The Hungarian economy is once again strengthening in a strategic sector, with developments affecting the medical technology and pharmaceutical industries, according to István Joó, government commissioner and CEO of the Hungarian Investment Promotion Agency (HIPA), the agency informed MTI on Wednesday. He spoke at the groundbreaking ceremony for SCHOTT Hungary Ltd., which manufactures glass packaging […]
Following the signing of a Memorandum of Understanding with the State Oil Company of the Republic of Azerbaijan (SOCAR) last September to evaluate further potential cooperation opportunities in the area of hydrocarbon exploration in the Shamakhi-Gobustan region in Azerbaijan, the new agreement marks further progress in MOL’s strategic partnership with SOCAR. The agreement was signed […]
Predictable financial security is essential in sports. That is why it is so significant for Hungarian boxing as a whole that the Hungarian Boxing Association, which has a 100-year history of sporting success, has entered into a strategic partnership with Provident Financial Ltd., a key financial services provider in the field of personal loans. The […]
Hungarian fashion brand RETRO JEANS has signed a long-term lease agreement with HelloParks. The brand will establish its new central warehouse in the HelloParks AN1 facility in Alsónémedi (Budapest South), occupying 5,000 sqm. The site is the largest logistics and industrial hall developed so far by the Hungarian-owned industrial property developer and was built in […]
Mol Limo launched its classic car rental service this Monday. Mol Limo RENT A CAR is available 24 hours a day, the company told MTI. According to the statement sent by the car-sharing company to MTI says that it currently operates a fleet of around 600 cars and that the new service is based on […]
Chinese-owned Halms has once again chosen Hungary as the location for its latest strategic investment, according to the Hungarian Investment Promotion Agency (HIPA). Following the establishment of one of the country’s leading aluminum processing facilities in Debrecen, the company has announced the construction of a new automotive component manufacturing plant in Miskolc, NE Hungary. The […]
The real estate broker Duna House Group reached quarterly clean core EBITDA of HUF 1,281 million, 33% above the Q1 2024 level, and clean core profit after tax amounted to HUF 627 million, +19% year-on-year. 81% of EBITDA was generated by the financial intermediation segment and 64% outside of Hungary, the Group announced on the […]
In April 2025, industrial producer prices were on average 7.9% higher in Hungary than a year earlier. Domestic sales prices exceeded April 2024 values by 3.9%, while export sales prices exceeded them by 9.9%. The price increase was mainly due to the annual weakening of the forint against the euro and the increase in production […]
The Ideona consulting group has handed over another solar power plant integrated with an electrochemical energy storage system in Söpte, Vas County, according to a statement by Ideona Plc. to MTI. The energy is produced by 4,123 solar panels with a capacity of 3,300 megawatts per hour, which are capable of meeting the total annual […]
The building insulation materials firm Masterplast’s revenue (EUR 136 million) declined by 6.2% compared to the 2023 base due to the persistently weak industry environment, despite the successful entry into the market for Certified Energy Savings (HEM), which generated significant additional sales, the company reported on the website of the Budapest Stock Exchange this Friday. […]
Service exports calculated in EUR decreased by 3.6%, and imports by 2.6% in the 1st quarter of 2025, compared to the same period of the previous year. The surplus reached EUR 2.2 billion, EUR 141 million less than in the 1st quarter of 2024, the Central Statistical Office (KSH) reported this Friday. Export value lessened […]
Hungary’s central bank has decided to maintain its key interest rate at 6.5%, marking the eighth consecutive month without any changes. This move comes as policymakers remain focused on combating persistent inflation expectations, despite mounting challenges for the country’s export-driven economy. The decision to hold the benchmark rate steady was in line with expectations, with […]
Mercedes-Benz Manufacturing Hungary Ltd.'s 2024 revenue was EUR 4.171 billion, down by more than EUR 904 million from 2023, while the automotive company's profit after tax fell to EUR 57.596 million last year from EUR 95.661 million a year earlier, the company said on Thursday on the Budapest Stock Exchange (BSE) website. According to a […]
The Hungarian banking system is still characterised by high profitability, abundant liquidity and a strong capital position, and consequently the sector’s shock resilience remains outstanding. Banks’ lending capacity is abundant, and no general credit supply constraints can be identified. In the past period, credit risks did not rise despite the prolonged dynamization of the real […]
Gorenje Magyarország Ltd. achieved net sales of HUF 41.4 billion and a taxable profit of HUF 302 million in 2024, increasing its sales by 10% compared to the previous year, said Norbert Füle, managing director, at the company's press conference in Budapest on Wednesday. The Hungarian division of the Slovenian Gorenje Group expects sales of […]
