The ground-breaking ceremony of EcoPro BM’s cathode material plant in Debrecen indicates that the EUR 728 million project of the South Korean company is going to plan, according to the Hungarian Investment Promotion Agency (HIPA). The investment will allow the manufacturing of 108,000 tons cathode material for lithium-ion batteries on a yearly basis, and 631 […]
The stock index of the Budapest Stock Exchange (BSE), the BUX, closed the week up 1.88% or 815.64 points at 44,100.87 points, MTI reported Sunday morning along with a brief analysis of the week’s trading. Total turnover fell from HUF 28.879 billion the previous week to HUF 21.09 billion, with the leading shares gaining on […]
This Saturday, I Bike Budapest held a bicycle march in Budapest to stand up for the newly renovated, congestion-free, passable Chain Bridge. According to the organizers and police, around 15,000 cyclists took part in the event, which was held in sunny weather of 20 degrees Celsius. The parade started from Heroes' Square, where the Ambassador […]
The inauguration of Ineton Ltd.’s new automated plant in Alsónémedi, just south of Budapest, marks an important chapter of the domestic reinforced concrete manufacturing market. The HUF 16 billion investment allows to produce special-purpose precast concrete which enhances construction efficiency to a large extent. As a result of the extension headcount surges to 140, the […]
To commemorate the 50th anniversary of the establishment of the first national park in Hungary, the National Bank of Hungary (MNB) issues a silver collector coin of HUF 15,000 and its non-ferrous metal version with a face value of HUF 3,000 on the occasion of Earth Day. The special rectangular commemorative coins are part of […]
Two new pig farms by Danish-owned FirstFarms Hungary Ltd. were inaugurated on Friday in Telekgerendás and Pusztaföldvár, both in Békés county, SE Hungary. Over 30% of the HUF eight billion investment cost was covered by Hungarian taxpayers through a government decision on state aid. The investment will create 20-30 new jobs in the region. The […]
Hungarian-owned Wellis Hungary Plc., a manufacturer of hydromassage tubs, outdoor pools and sanitary ware, reported a 32% increase in sales last year to more than HUF 50.8 billion compared to HUF 38.4 billion in 2021, while its profit after tax decreased to about HUF 1 billion from HUF 3.8 billion in the previous year, the […]
Hungary’s government announced a ban on the import of grain, oilseeds, and several other products from Ukraine and later expanded the list of banned items, citing market pressures on Hungarian farmers. Budapest called for "progressive" aid from the EU to help move Ukrainian grain through central European countries where farmers are competing with cheaper imports. […]
China Construction Bank (CCB), the world's second largest credit institution by assets, has opened a branch in Hungary, it was announced at the opening ceremony in Budapest. Minister of Economic Development Márton Nagy said he hoped CCB's presence would open up space for further development. He believes that China will be a major player in […]
From Friday to Sunday, the Budapest Zoo offers a wide variety of programs for the Earth Day Earth Festival. The institution and its partners are preparing for the festival with a variety of attractions and experiences at 16 locations, and will also hold the usual animal shows, spectacular displays and experience programs of the high […]
Gyermelyi Plc. has inaugurated an egg production unit in Máriahalom, some 20 kms west of Budapest, with an investment of HUF 1.4 billion, making it the largest egg production plant in the country. The managing director of the egg production firm Gyermelyi Tojás Ltd., Csaba Réthy, stressed that the site in Máriahalom had previously had […]
The engineering office BUILD IT Mérnökiroda Ltd. will build a prefabricated housing production line and plant in Sóskút, SW of Budapest, with EU funding of HUF 1.556 billion, the company told MTI on Thursday. The company won the conditionally non-refundable grant from the Economic Development and Innovation Operational Program (Ginop) Plus. The total cost of […]
Data recorded in the first quarter of this year shows that 10.2% less motor gasoline and 22.4% less diesel were consumed in Hungary than in the same period last year, with fuel consumption falling by an average of 18.2% compared to the first quarter of last year, the Hungarian Petroleum Association (MÁSZ) said on its […]
According to preliminary data from DataHouse, 72,300 cars changed hands in March, up 12% from 64,600 in February. For the first time since August, the number of domestic transfers exceeded the 70,000 level, the trading portal JóAutók.hu said in a statement. The statement points out that 204,631 passenger cars changed hands on the used car […]
The retail chain Spar Hungary achieved gross sales of HUF 915.7 billion in 2022, 15.6% more than in the previous year, the company's CEO, Gabriella Heiszler said at a press conference in Budapest on Wednesday. There was a minimal year-on-year decline in the volume of products sold last year, with a very strong first half […]
