Hungary's struggling economy may find relief in 2025 as automotive giants BYD and BMW prepare to launch production at their new facilities, marking a significant expansion of the country's automotive sector. Chinese Ambassador Gong Tao announced during a recent visit to Szeged that BYD's first European plant will begin manufacturing vehicles in November 2025. Meanwhile, […]
The Hungarian automotive trading company AutoWallis Plc. has informed its investors on the website of the Budapest Stock Exchange that it intends to acquire a 100% stake in the holding company MILAN KRÁL HOLDING of the Czech Republic, for which it has submitted a request for preliminary approval to the Czech competition authority. MILAN KRÁL […]
There is a high degree of uncertainty in the target markets of the Hungarian economy, and the expected economic policy of the next US President also poses a number of risks for Germany and thus Hungary. Due to the weak economic situation, the German economy is not able to stimulate the Hungarian economy, said András […]
As part of its commitment to expanding its presence in Hungary, global animal vaccine producer Ceva-Phylaxia has announced an EUR 75 million investment, establishing a state-of-the-art unit in Monor dedicated to manufacturing inactivated, multicomponent vaccines, the Hungarian Investment Promotion Agency (HIPA) reports. Following the official groundbreaking ceremony for the 7,000-square-meter facility, production is expected to […]
Mol Petrochemicals is expanding its green power production with a 48-megawatt solar park, creating one of the largest solar parks connected to consumers, Mol Hungary's Managing Director announced on Thursday in Tiszaújváros, NE Hungary. Speaking at a press conference at the company's existing 6-megawatt solar park, György Bacsa said the new solar park will directly […]
Housing prices rose by 2.5% in October compared to a month earlier, compared to a monthly increase of only 0.9% in September; the year-on-year increase accelerated from nearly 7% in September to almost 10% in September, according to the latest housing price index from the Hungarian real estate site ingatlan.com. According to the portal's Thursday […]
Group revenue increased by 13.8% year-on-year in Q3 2024, reflecting continued growth in service revenue driven by customer base expansion and ARPU increases as well as impacts from the inflation-based fee adjustment at the Hungarian operation. Higher equipment sales and SI/IT revenue also contributed to the quarterly increase, Magyar Telekom reported on the website of […]
The Corvinus University of Budapest and KPMG, an audit, tax and business consulting firm, have signed a strategic agreement, a three-year partnership document signed by Bruno van Pottelsberghe, the university's president-rector, and Rezső Rózsai, the company's CEO, KPMG has told MTI. According to the information, the partnership serves to ensure that the latest technologies and […]
Consolidated sales of Richter Gedeon Plc. amounted to HUF 636.4 billion in the first nine months, up 5.7% year-on-year, the pharmaceutical company announced on the website of the Budapest Stock Exchange on Tuesday. The company posted a 42.2% increase in profit after tax to 175.9 billion forints in the first three quarters. The report underlined […]
Office park operator Graphisoft Park SE's pro forma net profit for the first three quarters of 2024 amounted to EUR 6.18 million, up 11% year-on-year, the company announced on Tuesday on the website of the Budapest Stock Exchange (BSE). According to the executive summary of the report, this growth is partly due to the office […]
An exhibition of photographs by André Erdős, former UN ambassador of Hungary, opens on Tuesday in the Black House at the Móra Ferenc Museum in the city Szeged, SE Hungary. As, Anita Hegedűs, press officer of the public collection, told MTI, the public can see photographs from the 1960s until 2004 of the ambassador's assignments […]
MBH Bank Plc. is further increasing its stake in Fundamenta-Lakáskassza Plc. after signing a sale and purchase agreement with Generali Biztosító Plc.. for the purchase of a 14.88% stake in the housing savings bank; after obtaining the necessary regulatory approvals, the credit institution will hold a total of 91.23% of the company. MBH Bank said […]
E.ON Hungária is spending HUF 8.4 billion on the development of the electricity network in Kaposvár and its surroundings, with the aim of ensuring a long-term stable and secure electricity supply, the group's investments, which started last year and will last until 2026, E.ON informed MTI on Monday. The group, which operates the electricity networks […]
The Shopper Park Plus Group's profit after tax for the first nine months of 2024 amounted to EUR 16.1, significantly higher than the EUR 8.3 million profit in the same period of the previous year, due to a property revaluation gain, also due to new leases signed. The SPP Group's gross profit improved by 10.5% […]
On Friday, the Budapest Stock Exchange (BSE) commemorated the 30th anniversary of the listing of the pharmaceutical giant Richter Gedeon Plc. with a ceremonial opening bell Participation on the stock market has made a significant contribution to the success of the pharmaceutical company both at home and abroad, a BSE statement to MTI said, explaining […]
