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 […]
Spago Budapest, located in the majestic building of the Matild Palace, a Luxury Collection Hotel, Budapest, is preparing a special offer for St. Martin's Day. On November 11, goose will take center stage as the restaurant presents a carefully curated menu to mark the occasion, while a day before, Sunday Brunch courses will add a […]
The Hungarian medical device manufacturing sector sees further reinforcement through Karsai Alba Ltd.'s latest investment. As part of an EUR 10.86 million project, the fully Hungarian-owned company based in Székesfehérvár inaugurated a 2,100-square-meter, fully automated and robot-equipped facility this Monday, the Hungarian Investment Promotion Agency reports. The plant, specialized in manufacturing single-use laboratory and medical […]
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 […]
