Trade turnover between Hungary and Turkey reached a record high last year, and the two sides have taken important steps to further strengthen economic relations, Minister of Foreign Affairs and Trade Péter Szijjártó said in a statement issued by the Ministry of Foreign Affairs on Thursday after the inaugural meeting of the Hungarian-Turkish Joint Trade […]
The retail chain Auchan Hungary and Nhood Hungary, which manages the Auchan shopping centers, will install solar panels worth EUR 20 million on the roofs of their buildings to increase the energy efficiency of their properties, the companies informed MTI on Tuesday. The investment started in the second half of 2022, as a result of […]
In an effort to gear up for the transition, leading OEM Stellantis invests EUR 103 million to introduce production of electric drive modules (EDMs) at its plant in Szentgotthárd, Hungary. The investment is part of the company’s Dare Forward 2030 strategic plan that outlines ambitious electrification objectives. Stellantis’ preparations for the transition are going full […]
Europtec Ltd., a company with a Swiss background, is building its fourth production hall in Zalaegerszeg, SW Hungary, with an investment of about EUR 5 million, the company's managing director, Gábor Belső said at a press conference in the Zala county seat on Monday. He recalled that the company, which manufactures precision plastic components, has […]
The Budapest Stock Exchange's (BSE) share index, the BUX, fell by 307.33 points, or 0.47%, this week compared to last Friday, ending the week at 64,982.98 points, MTI reported this Sunday. Total turnover fell from HUF 70.775 billion to HUF 37.747 billion on a weekly basis, with the leading shares, with the exception of Richter, […]
Hungarian President Katalin Novák announced her resignation in a speech aired on television Sunday evening. The move comes after her decision to pardon a man last year who had been convicted of concealing a string of child sexual abuses in a state-run children’s home. "In April last year, I decided in favor of granting pardon […]
LIBERTY Dunaújváros, Hungary's largest steel producer, which was acquired by LIBERTY Steel Group in October 2023, has restarted production, according to a company press release. The company is continuously expanding production in order to serve its customers in Hungary and Europe at the highest possible level as soon as possible, the European President of LIBERTY […]
In January 2024, inflation continued to fall at a rapid pace, the National Bank of Hungary (MNB) says in an analysis published this Friday. Consumer prices rose by 3.8% in annual terms, thus 34 months after March 2021 the price index fell back into the central bank tolerance band. Core inflation and core inflation excluding […]
The European Commission has initiated legal proceedings against Hungary's newly passed "sovereignty law," underscoring the ongoing tensions between Brussels and Budaőest. The legislation, ratified by the Hungarian parliament in December, has sparked controversy for its potential to infringe upon fundamental democratic principles and rights. The contentious law introduces the "Office for the Defence of Sovereignty," […]
The 4 millionth car was produced at Suzuki's Esztergom plant, northwest of Budapest, on Thursday, with the company planning to produce 130,000 cars this year, following 160,000 in 2023, Magyar Suzuki Plc. told MTI. Deputy CEO Róbert Krisztián recalled to journalists at the factory that production at the Japanese carmaker's Hungarian plant started in 1992. […]
Zwack Unicum Plc. achieved gross sales of HUF 31.58 billion in the first three quarters of the 2023-2024 financial year, up 3.4% year-on-year, while its profit after tax was HUF 3.2 billion, a 16.4% decrease, the company announced on the website of the Budapest Stock Exchange (BSE) on Tuesday. According to the report, net sales […]
Two new items from the former Corvina Library of Hungary’s King Matthias and the earliest panoramic photograph of Istanbul, consisting of ten images, have been made available to the public in the digital collection of the National Széchényi Library (OSZK). The inclusion of the new items was announced at a press event, which was part […]
IHG Hotels & Resorts, one of the world’s leading hotel companies, announced during the HOTCO international hotel investment conference in Vienna its first Holiday Inn & Suites property in Europe with the signing of Holiday Inn & Suites Budapest Centrale – part of its Holiday Inn Hotels & Resorts brand. Set to open in late […]
The stock index of the Budapest Stock Exchange (BSE) rose this week, closing at 65,290.31 points on Friday, up 1,197.75 points or 1.87% from a week earlier, MTI reported on Sunday with a brief analysis of the week’s training. The weekly turnover of the stock market was HUF 70.77 billion, up from HUF 65.71 billion […]
For the eleventh time, Magyar Posta, the Hungarian Post Office, is issuing a stamp design with motifs of the Chinese horoscope, this time to greet the upcoming period between February 10, 2024 and January 28, 2025, the Year of the Dragon. According to Dr. Barnabás Balczó, Chairman and CEO of Magyar Posta Plc., "just as […]
