The Hungarian energy conglomerate MVM Group has acquired a stake in one of the world's largest deep-sea natural gas fields, following the closing of a transaction between the MVM Group and Azerbaijan's state-owned Southern Gas Corridor CJSC on Friday, MVM told MTI. With the transaction, MVM has acquired a 5% stake in the Shah Deniz […]
This year’s travel season is still in full swing, but behind the scenes planning for next year is already well underway at Ferenc Liszt International Airport. In addition to attracting new exciting destinations and developing the airport, preparations are focused on celebrating a very important anniversary: Ferenc Liszt International Airport turns 75 on May 7, […]
More guests stayed in rural accommodation in Hungary in June-July than in last year's record year; according to data from the National Tourist Information Center (NTAK), 2.9 million foreign and domestic travelers spent 7.9 million guest nights outside the capital in the first two months of summer, the Hungarian Tourism Agency (MTÜ) told MTI on […]
PwC Hungary has announced the appointment of ten new directors. All appointments are effective as of September 1. The new directors are Andrea Csiszár, Liliya Meshcheryakova, Krisztina Sótonyi and Viktor Trubnikov in Assurance; Árpád Kelemen and András Szabó in Advisory and Technology Consulting; and Norbert Czilják, Rita Szalay, Zsolt Topánka and Péter Zalai in Tax […]
The acquisition of Foxpost has been closed following the receipt of clearance from the competition authority and the fulfilment of other conditions, the sellers, Wallis Group and Trueway (formerly Finext), told MTI. According to the statement, the growth plans of the Hungarian-based parcel delivery service provider will be supported by international ownership. Further growth is […]
Hungary’s central bank has taken a breather after a streak of 15 consecutive rate cuts, opting to leave interest rates unchanged at its latest policy meeting. However, policymakers hinted that the pause may be temporary, with room for further "cautious" rate cuts in the near future. This week, the central bank held the benchmark interest […]
In July 2024, 2.4 million guests spent 6.6 million nights in tourist accommodation (commercial, private and other). The number of guests was 4.1% higher and the number of nights 2.0% higher than a year earlier, the Hungarian Central Statistical Office (KSH) reported on Thursday. The number of nights spent by domestic guests decreased by 0.3%, […]
More and more people in Hungary have some money left over from their income at the end of the month, and fewer and fewer are forced to borrow from family, friends, relatives, financial institutions and financial service providers, according to a representative survey of 4,500 people commissioned by Provident Financial Ltd. However, recent data show […]
MET Group has inaugurated its second solar power plant in Hungary near Kaba in Hajdú-Bihar County, E Hungary, the company told MTI on Wednesday. The power plant, which operates with more than 33,000 solar panels, can cover the energy needs of almost 13,000 households. The 23.4 megawatt solar power plant was built using state-of-the-art technology […]
Around 178,000 guests stayed in the Hungarian capital's hotels during the Sziget festival, which took place between August 7 and 12. According to the National Tourism Data Service Center (NTAK), the capital's hotels registered a total of 336,000 guest nights, a tenth more than during last year's event, the Hungarian Tourism Agency (MTÜ) said on […]
Félegyházi Bakery, a 100% Hungarian-owned, two-generation family business, has been implementing a HUF 10 billion greenfield investment since the end of last year, Zoltán Magyar, the bakery's chief operating officer, said in a podcast interview. Hungarian bakery products are of high quality, but Hungary still imports more of them than it sells on foreign markets. […]
In the past few days, six million bottles and cans have been returned daily by customers, and the number of take-backs in Hungary has increased to 150 million in just a few weeks, Mol Waste Management Plc. MOHU has told MTI. In a statement, the company stressed that the return system, besides its positive environmental […]
The Hungarian energy services firm Alteo put a solar park into operation near Tereske in Nógrád county (northeast of Budapest). With the facility built with its own investment and construction, the company's solar power plant capacity has doubled. The solar power plant will be able to produce 31 gigawatt hours (GWh) of electricity annually, which […]
Budapest has rebuffed the European Union’s concerns insisting that its National Card scheme complies with the bloc’s regulations and adequately addresses security risks. The Hungarian government has responded to Brussels' request for clarification on its relaxed entry requirements for Russian and Belarusian nationals, brushing aside concerns that the policy could jeopardize the security of the […]
With a stable outlook, Moody's Investors Service has confirmed MBH Bank's recommended investment ratings: among other things, its long- and short-term bank deposit ratings, as well as its senior unsecured MTN program and senior unsecured debt ratings. Based on the analysis of the international rating agency, it was highlighted that the confirmation of the debtor […]
