Japanese instant noodle giant Nissin Foods is expanding its operations in Kecskemét with a new production facility, the Hungarian Investment Promotion Agency reports. The Tokyo-based company, manufacturing products of iconic brands, such as Smack and Soba, is investing approximately EUR 100 million to establish its second factory in Hungary. The development will take place on […]
Market Group's two real estate development subsidiaries, Market Asset Management and Property Market, won three prestigious awards at the 15th Real Estate Awards gala, the real estate group informed MTI on Friday. The BEM Center office building was named Commercial Development of the Year and Greenest Project of the Year, while the Kimpton BEM Budapest […]
Budapest-based pharmaceutical giant Gedeon Richter Plc. announced its Q4/FY 2024 financial results at the website of the Budapest Stock Exchange by stating that 2024 was an active year with business development across all segments, aimed at providing access to health by bringing solutions to unmet needs and by offering affordable medicines to a wide range […]
According to a survey conducted by the GKI Economic Research Institute with the support of the EU, the outlook of consumers remained unchanged in February compared to January, but the expectations of the business sector became slightly more optimistic. The GKI business climate index thus moved up from its 19-month low in January. Companies' employment […]
Industrial producer prices were 9.1% higher on average in January 2025 than one year earlier. Domestic output prices were 6.1% and non-domestic output prices 10.6% higher than in January 2024, the Central Statistical Office (KSH) reported this Friday. The price rise was primarily caused by the annual weakening of the forint exchange rate against the […]
The AutoWallis Group increased its sales to HUF 398.46 billion last year, which is 9% higher than the previous year, while EBITDA (earnings before interest, tax, depreciation and amortization) rose by 2% to HUF 20.175 billion, the company told MTI on Friday. Net profit fell to HUF 6.976 billion from HUF 9.842 billion in the […]
Hungary’s government has acknowledged that it is likely to miss its budget target for 2026, following a wave of pre-election fiscal promises by Prime Minister Viktor Orbán. The Economy Ministry confirmed on Thursday that the country’s budget deficit is expected to reach 3.5% of GDP, surpassing the earlier 2.9% goal, which would have brought it […]
The Sziget (or ‘Island’) Festival in Budapest has been awarded the "Recommended" rating by Greener Festival 2024. The recognition reflects the festival's commitment to sustainability, from reducing waste and using renewable energy sources to promoting inclusivity and responsible dining. Sziget also took home the Greener Innovation Award at the recent ‘A Greener Future’ (AGF) international […]
Hungary is further strengthening its position in the automotive industry as the Japanese Alpine announced a new investment worth nearly EUR 55 million at its Biatorbágy site, just west of Budapest, creating 100 new jobs, contributing to the long-term growth of the Hungarian economy, and promoting industrial innovation, according to the Hungarian Investment Promotion Agency […]
Provident Financial Services says it has been working for many years to reduce the number of people for whom there are no financial solutions available for temporary or permanent financial problems. An important aspect of the issue of widespread access to home loans is the conscious financial education of those affected. Provident has programs to […]
The Business Council for Sustainable Development in Hungary (BCSDH) elected its leadership for another three-year term at its renewal General Assembly. Attila Chikán Jr., the CEO of ALTEO Energy Services Plc., has led the four-member Board for nine years, during which time nearly 90 new companies joined the organization, BCSDH has announced. Today, BCSDH represents […]
At the February meeting of the Monetary Council of the National Bank of Hungary (MNB), the members of the Monetary Council unanimously decided to keep the interest rate at its current level for a longer period of time, according to the Deputy Governor of the MNB, Barnabás Virág. At the press conference following Tuesday's interest […]
Hungary’s Mol Group has taken another step towards the development of hydrogen mobility by upgrading its hydrogen filling station for buses and trucks in Bratislava, Mol told MTI on Tuesday. According to the statement, the filling station in the Slovakian capital, located on the territory of the group's subsidiary SlA Bratislava refinery, which was inaugurated […]
The hotel market in Budapest is expected to grow significantly in the coming years as tourism booms, the international real estate market service provider CBRE told MTI on Tuesday. CBRE recalls in its statement that last year there was a significant growth in the Budapest hotel market, with the number of guest nights increasing by […]
Budapest-based GANZ Switch and Device Manufacturing Ltd. (GANZ KK) and the University of Dunaújváros have developed an automated, robotic and remote-controlled system for group charging of e-cars, GANZ KK told MTI. The project, which is a significant innovation on an international level, received HUF 796 million in funding from the National Research Development and Innovation […]
