India's Liberty Steel has been selected as the winning bidder in the tender for the Dunaferr iron and steel plant in liquidation in Dunaújváros, central Hungary. The news was announced by the Ministry of Economic Development. The ministry's statement recalled the steps leading up to the tender and underlined that as the next step in […]
All Bosch Group products and solutions are planned to either incorporate artificial intelligence (AI)-based technology or will be developed and manufactured with the help of AI this year, the company told MTI on Monday. The company had originally set this as a target for 2025, but is on track to implement plans two years earlier, […]
The total Industrial & Logistics (I&L) property sector stock for the CEE-12 region has grown to exceed 65 million sqm, with 25 million sqm situated in and around the 12 capital city markets, the international property consultant company Colliers says in its latest report. Poland, as the largest country of the group covered in this […]
The value of Hungarian exports was 5.2% higher, while that of import 5.4% lower in EUR terms in May 2023 than in the same period of the previous year, the Central Statistical Office reports. The balance of the external trade in goods improved by EUR 1.3 billion. Compared to the previous month, the level of […]
The 5th International Family Firm Conference organized recently by the prestigious Corvinus University of Budapest, brought together experts and successful business leaders from Hungary and abroad to shed light on the immense potential of family businesses in Hungary and the challenges they are facing. The conference, where the main focus was HR activities, delved into […]
In the WittyLeaks series, Diplomacy&Trade regularly publishes the personal accounts of ambassadors and other diplomatic mission leaders accredited to Budapest. As I stepped into the role of the Ambassador of Egypt to Hungary, little did I know that this opportunity would lead me on a remarkable journey of discovery, cultural immersion, and friendship. From the […]
BUX, the stock index of the Budapest Stock Exchange (BSE) weakened this week amid falling turnover, closing at 49,891.95 points on Friday, 1.22% lower than a week earlier, MTI reported this Sunday, along with an analysis of the week’s trading. The weekly turnover of the stock market was HUF 32.04 billion, up from HUF 35.32 […]
The international credit rating agency S&P Global Ratings has affirmed its investment-grade rating of 'BBB minus/A-3' on Hungarian government debt obligations in foreign and local currency with long and short maturities. Two weeks ago, Fitch Ratings also affirmed Hungary's sovereign rating at 'BBB', also with a stable outlook. S&P explained its affirmation decision by stressing […]
The new Land Rover Defender is the modern reincarnation of the legendary off-roader that created the brand, the Land Rover Series I, inspired by American SUVs after World War II. The Defender, which has won a string of professional accolades, embodies the highest levels of performance, on-road and off-road capability and design. Ever since it […]
Among others, Kobo Town, Kommuna Lux, Gangar, Ti'Kaniki, Puuluup, Koza Mostra, Vinicio Capossela, Djely Tapa and Barrut will be among the world music acts on the Global Village stage at this year's Sziget Festival. From August 10 to 15, a wide range of genres and styles will line up, from Mexican cumbia punk to Celtic […]
Consumer prices were 20.1% higher on average in June 2023 than a year earlier, the Central Statisrtical Office (KSH) reports. According to a statement by the National Bank of Hungary (MNB), the 1.4% decrease compared to the prevous month was due to lower increase in the prices of food and industrial products. The highest price […]
The forint hit a losing streak this week, weakening to a two-month low against the euro, as investors got jittery over Hungary’s deteriorating finances and the central bank’s loosening monetary policy. Further interest rate cuts may add fuel to the fire, analysts warned. The Hungarian currency’s losses accelerated against the euro this week as markets […]
The oldest cultural relations organization in the world, British Council dates back 89 years and it has been continuously present in Hungary for six decades now. On this 60th anniversary, the recently appointed Country Director of British Council Hungary, Georgina Szilágyi tells Diplomacy&Trade about the organization’s role in the world, its activities in Hungary and […]
The MLS Raiffeisen Fifty-Fifty, driven by Márton Józsa, beat its own previous record – according to the official results list – with a time of 5:03:56 to win the 55th Kékszalag [‘Blue Ribbon’] Raiffeisen Grand Prix on Lake Balaton on Thursday. Fifty-Fifty, a Hungarian-designed twin-masted catamaran, broke the course record of 7 hours 13 minutes […]
Trans-Sped logistics company's new 5,100-square-meter warehouse complex is part of an agreement with the state that will see Trans-Sped set up six new logistics centers between 2017 and 2023, three in Debrecen, one each in Nagytarcsa, Környe and Tata. The total investment value is close to HUF 8 billion, creating 270 new jobs. The government […]
