TDK Hungary Components Ltd., a subsidiary of the Japanese TDK Corporation inaugurated its new plant in Szombathely. The company's operational scope will now include the production of signal transmitters and sensors, marking the first time these products have been manufactured in Europe. According to the Hungarian Investment Promotion Agency, the EUR 70 million investment will […]
Renowned chef Wolfgang Puck recently hosted a dazzling red-carpet event at Spago Budapest, drawing luminaries from the Hungarian film industry. Known for his long-standing role in crafting the menu for the Governors Ball following the biggest award ceremony of the international film industry, Puck created an unforgettable evening alongside his star culinary team. The guests […]
The management company of the Hungarian capital's Ferenc Liszt International Airport, Budapest Airport ended 2023 with a net profit of EUR 74 million on net revenues of EUR 337.8 million, and over the past two years, it has reduced its losses accumulated under the new coronavirus epidemic to EUR 47 million. The company says it […]
Mol has once again discovered oil in Vecsés in central Hungary, the Hungarian oil and gas company announced on the website of the Budapest Stock Exchange (BSE) on Friday. The company said that another exploration well was drilled in Vecsés to further explore the oil field discovered in 2022. The drilling, which started in January, […]
Hungary's decision to veto European Union plans to provide billions in military aid to Ukraine is causing increasing frustration in Brussels. As Budapest digs in its heels, refusing to wave through the assistance packages, dismay is spreading among fellow member states. When EU foreign ministers convened recently, tensions quickly boiled over. Even before the meeting […]
The Robert Capa Contemporary Photography Center in Budapest will commemorate the 80th anniversary of the landing in Normandy with guided tours and screenings of never-before-seen photographs on June 5 and 6. Hungarian-born American photojournalist Robert Capa's life's work is marked by his capture of the Normandy landings of June 6, 1944. The photographer arrived on […]
The aircraft that will carry the Hungarian Olympic team and fans to the Paris Olympics, which start on July 24, has been given a unique livery and design. The plane was unveiled at Budapest's Liszt Ferenc Airport on Thursday. At the inauguration, Minister of State for Sport Ádám Schmidt thanked Wizz Air and the airline's […]
TritonLife, a Hungarian-owned private healthcare services group, doubled its revenues and significantly expanded its network last year, the group told MTI. According to the statement, the group achieved net sales of almost HUF 35 billion in 2023, up from HUF 17.5 billion a year earlier. TritonLife added three diagnostic centers and a new private hospital […]
Mercedes-Benz Manufacturing Hungary Ltd. in Kecskemét, east-central Hungary, continued to increase its revenue in 2023, from almost EUR 4 billion in the previous year to more than EUR 5 billion last year; and its profit before tax also increased, from more than EUR 96 million in 2022 to about EUR 103 million last year, the […]
The discount chain Lidl Hungary has sold more than 200 million bottles of Hungarian wine in the past ten years, half of which in its international stores, and the annual sales volume has increased fivefold since 2014, the company informed MTI on Wednesday. According to the statement, since the food retail chain launched its supplier […]
The company has been commissioned to supply more than 150 low-voltage power distribution units for new offices in the residential and office building development Dürer Park located next to the City Park in Budapest. As part of the Dürer Park project, a 3.7-hectare area adjacent to Ajtósi Dürer Avenue in District XIV is being completely […]
The first phase of the renovation work on the Hungaroring race track east of Budapest has been completed, with a spectacular transformation of the paddock and the spectator area behind the main stand. According to the website of the facility hosting the Hungarian Formula One Grand Prix, the last five months have seen the focus […]
While visitors spent some ten million tourism nights in Hungary in the first four months of the year, the number of tourism nights in April decreased by 4.7% and that of tourist arrivals in the same month was down by 1.3% compared to a year earlier, the country's Central Statistical Office reports. In April 2024, […]
The new climate-neutral plant will be the French company's fifth factory in Hungary, where it will produce medium-voltage devices for electrical distribution equipment. The investment, worth a total of HUF 31 billion and supported by Hungarian taxpayers through a government decision to the tune of HUF 4 billion, is expected to create five hundred new […]
The Hungarian banking system remains stable and its resilience to shocks is strong, but after last year's outstanding profitability, its profits will decline in 2024, Bálint Dancsik, head of the National Bank of Hungary's (MNB) Financial Stability Report, said on Tuesday. Last year's outperformance in profitability was mainly due to the high interest rate environment […]
