For the second time in two years, Hungary’s economy has slid into recession, as its gross domestic product (GDP) turned negative for two consecutive quarters. New data shows an unexpectedly sharp economic downturn, with Hungary returning to recessionary territory last seen during the 2022 energy crisis. Hungarian GDP fell by 0.7% in the third quarter […]
In Hungary, e-mobility is mostly associated with the electrification of passenger vehicles, though it holds significant potential for the logistics sector, as well. It's no coincidence that major manufacturers are showcasing e-trucks and e-vans at international trade fairs, while, in Hungary, the market is only beginning to shape up in this area. A fresh study, […]
Weerts Logistics Park (WLP), a Belgian-Hungarian owned company, has officially inaugurated its newest environmentally sustainable smart warehouse of nearly 40,000 sqm recently in Vecsés, just south of Budapest for Magna International Inc (Magna), one of the world's largest suppliers of automotive parts. A statement by Weerts says the project, one of Hungary's largest industrial investments, […]
MVM Démász Transmission Ltd. handed over a modern substation in Soltvadkert, central Hungary, to ensure a secure power supply and to serve the high energy demand of new investments, the company informed MTI on Wednesday. According to the statement, the MVM group's power grid companies are placing great emphasis on modernizing and expanding the existing […]
Domestic small and medium-sized enterprises (SMEs) are expecting rising profits, but are holding back, as their willingness to invest has declined, according to the third quarterly data of the K&H SME Confidence Index, which shows the expectations of domestic micro, small and medium-sized enterprises (SMEs) for the next 12 months. According to a statement sent […]
The Supervisory Center and Money Museum of the National Bank of Hungary (MNB) hosted a ceremony to mark the 75th anniversary of the establishment of diplomatic relations between Hungary and the People's Republic of China. The event included the presentation of a diplomatic medal issued by the MNB to mark the anniversary and the presentation […]
Repayment of outstanding loans is less of a problem than before, and reluctance to borrow has eased, according to a survey by Provident Financial Ltd.'s among its own customers. The data also shows that with their financial situation feeling more stable, more people are willing to spend on things such as health care, which was […]
According to the data of the Hungarian Central Statistical Office (KSH) and the National Tourism Data Service Center (NTAK), nearly 1.5 million people visited Hungarian accommodation establishments in September 2024, which is 2% higher than in the same period last year, the Ministry of National Economy (NGM) said in a statement on Tuesday. Hotels nationwide […]
At the World Expo 2025, which will be held between April 13 and October 13, 2025 with the participation of 161 countries and 9 international organizations, the Hungarian pavilion will mainly be responsible for the development of the country's image and the presentation of Hungarian gastronomy. The Expo 2025 Hungary Nonprofit Ltd. sent a statement […]
The bazaars of Marrakech, the Guggenheim Museum, Parisian romance, the famous Pink City are some of the new destinations offered by Budapest Airport’s winter schedule with nine new flights. As statement by the company, which is the operator of Budapest’s Ferenc Liszt International Airport, and is part of VINCI Airports, points out for the lovers […]
The Danish home furnishing chain JYSK Group's has opened its 100th store in Hungary in the eastern Hungarian city, Debrecen. JYSK CEO Rami Jensen recalled at the opening ceremony that their first Hungarian store was opened in Fót in 2005. And from their regional distribution center in Ecser, opened two years ago, they now serve […]
Hungary’s political landscape is shifting as emerging opposition leader Péter Magyar’s Tisza party continues to challenge Prime Minister Viktor Orbán’s ruling Fidesz party. Two opinion polls released this week show Tisza overtaking Fidesz ahead of the 2026 general elections, signaling a potential shake-up in the country’s long-standing political order. For the second time in as […]
The pharma companies AbbVie (headquartered in North Chicago, Illinois in the United States) and Gedeon Richter Plc. (headquartered in Budapest, Hungary) have announced a new discovery, co-development and license agreement to advance novel targets for the potential treatment of neuropsychiatric conditions. A statement on the website of the Budapest Stock Exchange highlights that this collaboration […]
The two millionth car was completed at the Mercedes-Benz factory in Kecskemét in October, a blue, five-seater EQB with pure electric drive, Mercedes-Benz Manufacturing Hungary Ltd. told MTI on Thursday. According to the information, the plant is currently producing Mercedes-Benz A-Class models, the CLA Coupé and Shooting Brake models, as well as Mercedes-Benz EQBs. Last […]
Low-cost airliner Wizz Air has announced that it will trial operations using Sustainable Aviation Fuel (SAF) in collaboration with Airbus. This positions Wizz Air at the forefront of compliance with the EU’s forthcoming RefuelEU aviation regulations, which are set to take effect in 2025. The joint initiative underscores Wizz Air’s proactive approach to decarbonising air […]
