Chinese car brand MG manufacturer SAIC Motor is to buy out the Hungarian import activities of Duna Motors Distribution Ltd., the parties announced in Budapest on Thursday. Under the agreement with Duna Autó Group, SAIC Motor CEE will take over the management and operation of the importer business, a move that is in line with […]
Hungarian Prime Minister Viktor Orbán has called for a revised European strategy on the Ukraine war following the Republican victory in the United States. Speaking at the Turkic Council summit this week, Orbán suggested that with the changing political landscape in Washington, Europe must now reassess its approach to supporting Ukraine, both militarily and financially. […]
Consolidated earnings at the Hungarian financial institution were HUF 826 billion profit after tax in January-September 2024 with an ROE of 24.9%; 3Q profit expanded by 19% q-o-q on the back of higher revenues and moderating impairments; 2% q-o-q organic increase in both performing loans and deposits, improving capital adequacy ratios. The Group’s cumulated profit […]
Profit before tax at the Hungarian oil and gas company MOL reached USD 503 mn in the third quarter of 2024, lower by 24% year-on-year but on track to meet annual guidance, the company reports on the website of the Budapest Stock Exchange. Main points of the report include: Chairman-CEO Zsolt Hernádi commented the result […]
The Hungarian-Chinese Investors Roundtable (MKBKA) was established at the end of October with the participation of key business players and business interest groups in order to ensure the efficient and successful implementation of Hungarian and Chinese cooperation, the body told MTI on Thursday. The Hungarian-Chinese Investors Roundtable is an independent group of experts that helps […]
What can European level cooperation help European and domestic companies to achieve their climate goals and climate adaptation? What partnerships can promote the domestic delivery of the Green Deal's sustainability objectives and the spread of clean technologies and green industries? The high-level delegation meeting held on November 5, 2024, in Hungarian Parliament's office building, timed […]
MOL Plc. has notified the capital markets on the website of the Budapest Stock Exchange that third Vecsés oil well (just outside Budapest), adds another 600 barrels of oil a day to MOL's Hungarian production. In the Vecsés oil field, discovered two years ago, there are three wells already operating. They produce about 4,000 barrels […]
The Casa del Caffé Vergnano, a Coca-Cola-owned company, has become a catering partner of the Félegyházi Family Bakery, which can now develop its services with a premium coffee brand, the Italian coffee company has told MTI. Based on the long-term cooperation, Coca-Cola HBC Hungary will support the bakery with modern equipment, expert advice, professional training […]
MET Danube Energy Storage Ltd., a member of the Swiss-based MET Group, is building an energy storage system with a total nominal capacity of 40 megawatts (MW) and a storage capacity of 80 megawatt hours (MWh) in Százhalombatta, south of Budapest, for which it has won more than HUF 4 billion in non-refundable EU funding, […]
A flood adventure, the brainchild of 11-year-old Adél Leila, which will reach sick children in the form of a comic book - the stories will be printed on the packaging of pastries that will be sent to medical institutions that treat children, in a charitable collaboration between the Magic Lamp Foundation, Provident Financial Ltd., Ludwig […]
Total gross sales of the Hungarian liqueurs and spirits producer Zwack Unicum were HUF 18,234 million, a year-on-year increase of HUF 1,014 million (5.9%), according to the half-year report of the company. During the first half of the business year, they amounted to HUF 165 million. Net sales (that is, sales revenues minus excisetax and […]
Compared to the previous month, the level of export of goods increased by 15%, and that import grew by 7.8% in Hungary's external trade balance in September 2024, the country's Central Statistical Office (KSH) reports. However, the value of export was 5.0% lower, that of import decreased by 4.0% in EUR terms in September 2024 […]
The Real Estate Developers Round Table (IFK), an association of the largest Hungarian real estate developers, has called attention to the over-design of Hungarian "A" and "B" class office buildings, their oversized energy capacities and the resulting higher operating costs and carbon emissions. Together with the ABUD Engineering Office, the interest grouping has formulated professional […]
Suzuki Motor Corporation has unveiled its first series-production electric (BEV) model, the e-Vitara, which is of strategic importance for the company, the communications manager of Magyar Suzuki Plc., Zsuzsanna Bonnár-Csonka told MTI on Monday. She added that the vehicle, presented in Milan, Italy, will go into production in India in spring 2025 and will be […]
Krisztina Bogdán has been appointed the new CEO of ING Bank from November 4, 2024, taking over the post from Gyula Réthy, the bank's interim CFO since July 1, after Tibor Bodor, CEO, left the bank at the end of June, the company told MTI on Monday. With more than 25 years of experience in […]
