Hungary narrowly avoided slipping into recession in the second quarter of 2025, but fresh economic data and a downgraded growth forecast point to mounting challenges for Prime Minister Viktor Orbán ahead of next year’s general election. Gross domestic product rose by 0.4% in the April–June period, following a revised 0.1% contraction in the first quarter, […]
Hungary’s leading innovative pharmaceutical company, Novartis has been present in this country since the early nineties. The head of the local subsidiary, Novartis Hungary Ltd., Colette Matz tells Diplomacy&Trade about the company’s activities on the Hungarian market with special regard to the company’s contribution to Hungarian healthcare. The General Manager states that Novartis is proud […]
STOBAG Group, a leading Swiss manufacturer of sun protection systems, is build-ing its largest production facility in Hungary through a capacity expansion investment supported by the Hungarian Investment Promotion Agency (HIPA). As a result of the EUR 21.5 million development, the company’s factory in Sülysáp, southeast of Budapest – in operation for ten years – […]
The personnel of the 69th rotation of the Hungarian Defence Forces Baltic Quick Reaction Alert (QRA) Detachment – stationed in a lead nation role at Šiauliai Air Base, Lithuania – are about to start performing air policing tasks for the fourth time as of August 1, the Hungarian defense website honvedelem.hu reports. The airmen are […]
Virág Csiszár, Sziget’s International Booking Manager, presented — at a recent press conference — the music programs for the festival’s major stages, highlighting that this year’s lineup is both incredibly current and highly diverse. Among the Main Stage headliners are Kid Cudi, who is one of the most intriguing figures in American hip-hop and R&B […]
Hungary’s Bonafarm Group signed an agreement to acquire Friesland Romania S.A., the Romanian subsidiary of Dutch multinational dairy company Royal FrieslandCampina, the company told MTI on Thursday. The transaction is expected to be completed at the end of the year, following competition law and regulatory approvals. No information was provided on the expected value of […]
Industrial producer prices were 5.1% higher on average in Hungary in June 2025 than one year earlier. Domestic output prices were 3.3% and non-domestic ones 6.0% higher than in June of the previous year. The price rise was primarily caused by the annual weakening of the HUF exchange rate against the EUR, as well as […]
The most important task of the Hungarian Investment Promotion Agency (HIPA) is to provide professional assistance to foreign and Hungarian companies wishing to invest in Hungary. In 2024, with the help of HIPA, foreign investors decided to launch 77 projects in Hungary, which is estimated to bring more than EUR 10 billion in fresh capital […]
Building on more than 150 years of industrial tradition, Hungarian-owned Ganz is launching a major capacity expansion at its Tápiószele plant. Supported by the government’s '150 New Factories Program',the EUR 50.4 million investment will not only double the company’s production volume, but also create 300 new jobs in the region. The development further strengthens Ganz’s […]
The three largest Hungarian mobile internet service providers have increased the roaming data allowance in their price plans, changed the composition of their subscription packages, and there has been no inflation-linked price adjustment this year, the National Media and Infocommunications Authority (NMHH) told MTI on Wednesday, based on its first-half summary of changes in mobile […]
A new chapter is beginning in the life of Sziget Festival — one that preserves its unique atmosphere and diverse programming while introducing a range of spectacular new features. Visitors can expect a refreshed program structure, creative innovations, and non-stop experiences available around the clock. Several venues are being relocated, and new 'districts' within the […]
The volume of Hungary’s gross domestic product grew by 0.1% according to raw data and by 0.2% according to seasonally and calendar adjusted and reconciled data in the 2nd quarter of 2025 than in the corresponding period of the previous year, the country's Central Statistical Office (KSH) reports. Compared to the previous quarter, the economic […]
In compliance with its obligation of extraordinary disclosure of information according to the relevant regulations, the Hungarian energy services provider ALTEO has announced on the website of the Budapest Stock Exchange that the closing preconditions of the sale and purchase contract for the acquisition of ÉLTEX Trade and Shipment Ltd., signed on December 20, 2024 […]
The Embassy of Switzerland in Budapest, in cooperation with the Budapest City Administration, Swisscham Hungary, Budapest Global Association and other partners, has launched the "Switzerland in Budapest 2025" program. This project aims to highlight the deep historical, cultural, and economic ties between Switzerland and Hungary by showcasing the many Swiss traces that can be discovered […]
Plant modernization, increased efficiency, the full utilization of existing capacity, flexible adaptation to future demands and the achievement of carbon-neutral operations are at the center of the plant developments that were inaugurated at Magyar Suzuki Plc.’s Esztergom site. The latest project of the Japanese company, which regularly reinvests in Hungary, is valued at nearly EUR […]
