All over the world, tax havens are causing massive losses to countries' budgets. The tax avoidance practices of corporations are costing USD hundreds of billions in lost revenue, but the flight of individuals' offshore assets is also causing massive losses. Hungary is a tax haven for companies, but the wealthiest have saved nearly 5% of […]
The emergence of artificial intelligence (AI) has become an unstoppable force, revolutionizing industries and transforming workplaces across the globe. The demand for AI-powered projects and solutions is growing at an unprecedented rate, and it is becoming evident that harnessing the true potential of AI requires more than just skilled software developers. From managers to entry-level […]
Following the largest order ever received by the Hungarian transport industry, a wide-ranging Hungarian-Egyptian railway vehicle manufacturing cooperation could be launched in the future, taking advantage of the market opportunities in Africa, the Minister of Foreign Affairs and Trade said in Budapest on Thursday. According to a statement by the Ministry of Foreign Affairs and […]
OMV Petrom, the largest integrated energy company in South-East Europe, has announced a project that will connect the region with a network of ultra-fast charging stations for electric cars along the Trans-European Transport Network (TEN-T), the company said in a statement. The project, which has received approval for a European funding contract with the European […]
The Hungarian EV ecosystem is going to be enriched by yet another battery manufacturer that is ranked top 10 in the world, according to the Hungarian Investment Promotion Agency (HIPA). The announcement by Sunwoda of an initial investment of EUR 245 million marks a new chapter in the history of the Chinese firm to set […]
The winners of Generali's sustainability competition have been announced, with the jury selecting the best projects from more than 120. In its Wednesday press release, Generali Insurance recalled that in order to support the stability and efficiency of small and medium-sized enterprises (SMEs) and their transition to sustainable operations, the Generali Group launched the EnterPrize […]
The number of MOL Bubi bike trips has exceeded six million, the Budapest Transport Center (BKK) told MTI on Wednesday. They wrote that the capital's residents have doubled the number of MOL Bubi trips in less than a year. They said that in the past year, the system added around 800 bicycles, new stations were […]
Suzuki is making a further investment of HUF 9.3 billion in Hungary, as part of which the Japanese company is expanding its production capacity and taking a major step towards the carbon neutral conversion of its Esztergom plant, this, the Ministry of Foreign Affairs and Trade informed MTI on Wednesday. According to Minister Péter Szijjártó's […]
A new hotel brand has been launched in Hungary after QPR Properties opened its 151-room luxury hotel, the W Budapest Hotel, in the Drechsler Palace on Andrássy Avenue in Budapest. The conversion of the landmark building, which once housed the State Ballet Institute, into a hotel was completed in two and a half years by […]
At its meeting on 25 July 2023, the Monetary Council of the National Bank of Hungary (MNB) reviewed the latest economic and financial developments and decided to leave unchanged the central bank base rate at 13% with effect from July 26, 2023. MNB’s primary objective is to achieve and maintain price stability. Without prejudice to […]
On the initiative of the Hungarian Bathing Association, the Night of the Beaches will be held again this year on July 29, with half a hundred baths from all over the country joining the national event. As the Bathing Association told MTI on Tuesday, the Hungarian baths are looking forward to welcome the lovers of […]
The number of companies in Hungary has fallen every month so far this year, with almost 10,000 fewer firms operating in June than in December last year, business information provider Opten told MTI on Tuesday. According to the information, almost 2,400 companies were founded in June, which is not an outstanding number, but not low […]
The monthly repayments are the main factor that Hungarians look at when considering whether to take out a loan to finance their plans. And for those who have been granted a loan by a financial institution in the past year, the total cost of the loan and how easy it was to borrow are the […]
The environmentally friendly, electric-powered fleet of Volánbusz has been expanded significantly in the last year and a half, with the company putting 100 new electric buses into service in the framework of the HUMDA Plc. Green Bus Program, the nationwide bus company Volánbusz said in a joint statement with the program's participants on Tuesday, MTI […]
In the first half of this year, the Hungarian Food Bank Association saved and donated 4.7 million kilograms of near-expiry and faulty packaging to people in need. In a statement sent to MTI on Tuesday, the association said that since their formation in 2005, they have collected more than 100 million kilograms of surplus food […]
