Hungarian industrial solar power generation reached a new historic record on February 21, with 2,030.5 megawatts (MW) of energy produced by industrial-scale solar power plants at the midday peak, breaking the previous record of 1,953 MW set on February 10, the Hungarian Independent Transmission Operator Co. Ltd. (MAVIR) said on its website. According to the […]
ADVANTAGE AUSTRIA is the Austrian Federal Economic Chamber's external trade agency in charge of trade development and Austria's largest provider of foreign trade services. The new head of the organization’s office in the Hungarian capital, Philipp Schramel tells Diplomacy&Trade about the tasks performed – and services provided – by the Budapest office. “We have three […]
The number of cars registered in Hungary is growing rapidly, but so is their average age. The latter has been rising steadily since the 2008 crisis, according to recent data from the Hungarian Central Statistical Office (KSH). As the business news site portfolio.hu points out, a turnaround would certainly require a rise in the living […]
The stock index of the Budapest Stock Exchange (BSE) declined this week, closing at 45,268.11 points on Friday, down 358.81 points or 0.79% from a week earlier, MTI reported this Sunday morning along with a brief analysis. The weekly turnover of the stock market was HUF 23.26 billion, up from HUF 35.72 billion the previous […]
Bácska-Logistik of Baja, S Hungary, has won a grant of almost HUF 300 million for the construction of a new gas station and a self-service restaurant exclusively for trucks. The company received a grant of HUF 290.5 million from the Széchenyi 2020 program for the investment, which cost a total of HUF 437.8 million, with […]
The railway passenger transportation company MÁV-Start has put into service all 40 KISS double-decker multiple units delivered to the company by Stadler under the framework contract signed in 2017, completing the railway company's fleet of double-decker multiple units. Zoltán Pafféri, Chairman and CEO of the mother company MÁV, stressed at a press conference at the […]
Unregulated storage of small boats on Lake Balaton is leading to more and more conflicts; Gábor Lombár, the president of the Balaton Association of local authorities wants to see a change in the law. The president pointed out that according to the Central Transdanubian Water Management Directorate (KDTVÍZIG), the Lake Balaton basin manager, 32 underwater […]
On Friday, 5,003 people entered Hungary at the Ukrainian-Hungarian border, while 6,924 of those entering at the Romanian-Hungarian border said they had come from Ukraine, the National Police Headquarters (ORFK) said. Of those who entered, police issued 69 people with temporary residence permits valid for 30 days. They will have to go to the office […]
Kayakfirst Ltd., a manufacturer of sports equipment for the indoor practice of the sport of kayak canoeing, has expanded its capacity in the southeastern Hungarian city of Szeged with a grant from the European Union. József Weimper, who founded the company and is an active kayaker himself, said at the Friday event to present the […]
Austria is Hungary's second most important trading partner in terms of trade volume and the third largest investor in Hungary. As the Austrian Ambassador to Hungary, Alexander Grubmayr highlights to Diplomacy&Trade, bilateral political relations mainly focus on European and cross-border cooperation. He also talks about neutrality as a fundamental element in Austria's foreign policy ever […]
Hungary’s interest rates are the highest in the European Union. Even though market sentiment is improving, as evidenced by the rapid appreciation of the Hungarian currency, the central bank is expected to keep rates unchanged for a long time to ensure that fundamentals are solid enough for monetary easing to commence. The National Bank of […]
KOSTAL Group, a German family-owned company, opened its new sustainable flagship office in the Hungarian capital, bringing a new way of working into the KOSTAL Family, the Hungarian Investment Promotion Agency (HIPA) reports. The company's EUR three million training program was supported by the Hungarian state with EUR 1.56 million through HIPA. The new business […]
18% of Hungarian motorists would like to buy an electric or hybrid vehicle within one or two years, compared to 16% last year, according to a representative survey conducted by Generali Insurance in January, the results of which were published by the company this Thursday. According to the statement, those who do not intend to […]
The 45th Travel Exhibition and 31st Budapest Boat Show opened at the Hungexpo Budapest Exhibition and Congress Center this Thursday. At the opening ceremony, the President of the Hungarian Tourism Association Foundation, Péter Princzinger stressed that although the world is facing new challenges, tourism is an industry of peace even in the midst of difficulties. […]
As result of the negative economic effects also in connection with construction industry and shrinking markets the building insulation materials firm Masterplast's sales decreased by 17% in Q4 compared to the base period, the company has reported on the website of the Budapest Stock Exchange. Despite that, during base quarter, Masterplast with strategic inventory had […]
