In the second quarter of this year, OTP Bank exceeded expectations, achieving a consolidated adjusted after-tax profit of HUF 330.015 billion, which is 23% higher than in the same period last year, according to information published on the Budapest Stock Exchange (BÉT) website early Tuesday morning. The consolidated adjusted after-tax profit for the second quarter […]
This Monday, Shopper Park Plus Plc. (SPP), which owns 14 grocery-anchored retail parks in Hungary through its subsidiary, with Tesco as the leading anchor tenant, signed a letter of intent with Dome Facility Services Group Ltd. to extend the cooperation regarding the technical operation of retail parks. Dome Facility Services Group Ltd. has been responsible […]
Givaudan, a global leader in flavors and fragrances, has significantly increased the production capacity at its Makó manufacturing site in southeast Hungary following HUF billions in investments. With the successful transfer of specialized technology from its Swiss facility, the Makó plant has emerged as a regional hub for special reaction-based technologies. “Our company growth strategy […]
British McLaren driver Lando Norris, second in the world championship standings, won the 40th Formula One Hungarian Grand Prix ahead of his teammate, Oscar Piastri of Australia at the Hungaroring circuit this Sunday. Finishing third in the 70-lap race was George Russell, the British Mercedes driver, while Charles Leclerc of Monaco, who started from pole […]
Switzerland-based pharmaceutical company Sandoz came to be an independent company in October 2023. For 20 years prior to that, it was the generic businesses division of Novartis. Now, Sandoz is a global leader in generic pharmaceuticals and biosimilars with the focus on bringing high quality medicines early to patients at affordable cost. The local subsidiary, […]
The second month of summer was also positive on the Budapest Stock Exchange, as the BUX index reached the psychological threshold of 100,000 points for the first time, the financial website penzcentrum.hu reports. The second month of summer was also positive on the Budapest Stock Exchange, as the BUX index reached the psychological threshold of […]
Stadler Trains Hungary Ltd., a subsidiary of Stadler Rail Group, the Swiss manufacturer of railway rolling stock, celebrates its 20th anniversary this year as it was established on December 1, 2005, after winning the public procurement procedure for the purchase of 30+30 suburban trains from MÁV Hungarian Railways. As Chairman Dr. Róbert Homolya describes to […]
The Swiss publishing company Ringier entered the Hungarian market over 30 years ago, in 1993, with the establishment of a subsidiary. The Chief Executive Officer at Ringier Hungary, Tibor Kovács tells Diplomacy&Trade about the common values that Swiss-based companies operating in Hungary share and represent to all their stakeholders; the firm pillars Ringier Hungary is […]
US-based GE Vernova is launching a major investment at its Hungarian plant, aimed at expanding manufacturing capacity, enhancing technology and improving the energy consumption efficiency, the Hungarian Investment Promotion Agency (HIPA) reports. The project costing EUR 22.5 million, almost 30% of which is covered by Hungarian taxpayers through a government desision, will see the modernization […]
SAP Hungary and the Faculty of Informatics of the Budapest university ELTE signed a cooperation agreement to develop modern business technology platforms that combine university and corporate knowledge and can be configured to meet specific needs. SAP is one of the world's leading companies in business applications, data management, and artificial intelligence-based solutions, combining more […]
