The U.S. Embassy in Budapest has announced that senior diplomat Robert Palladino will assume leadership as Chargé d’Affaires, ad interim, effective March 7. According to the statement, Robert Palladino will lead the Budapest Embassy’s engagement with the Hungarian government and people on behalf of the Trump Administration and the Secretary of State, pending the nomination […]
This year, seven Hungarian companies have been included in the Financial Times' (FT) list of Europe's 1,000 companies ranked by their growth, the British business daily told MTI on Tuesday. A1 Solar was ranked the top Hungarian company in the FT1000, with the photovoltaic systems provider coming 12th overall. DATAPAO, a data analytics company, was […]
The Chinese vehicle manufacturer Geely's van brand Farizon has entered the Hungarian car market, and its first dealership, Duna Autó, has started selling two models, the exclusive importer AutoWallis and Duna Autó announced at a press conference in Budapest on Tuesday. Chinese automotive holding Geely owns a number of car brands, including Volvo and Lotus. […]
The French electronics company is to expand its factory in Dunavecse in central Hungary with an investment of more than HUF 15 billion, creating 270 new jobs, with a HUF 1.5 billion subsidy from the Hungarian government. The investment will increase the floor area of the Duna Smart Power Systems (DSPS) smart factory in Dunavecse […]
We are pursuing a consistent and disciplined monetary policy, strengthening credibility and confidence. That is according to former finance minister Mihály Varga Mihály who officially took up his post as Governor of the National Bank of Hungary (MNB) after receiving his letter of appointment from President Tamás Sulyok on Monday. He was quoted in an […]
The oil and gas company Mol Plc. and the University of Miskolc (ME) in NE Hungary signed a new partnership agreement in the field of research, development and innovation on Tuesday. At a press conference in Miskolc, József Molnár, CEO of the Mol Group, said that the cooperation between the company and the university would […]
Géza Vincze took up the position of Managing Director of Auchan Hungary on March 1. He has almost 30 years of commercial experience at large international chains following different models, the retail chain has announced. During his career, Géza Vincze has held various positions in several international retail and wholesale companies. He started his career […]
Erste Bank Hungary Plc. closed last year with an improved profit profile, mainly due to the growth in the number of active customers and assets under management. Loan and bond volumes rose again in 2024, with new lending in retail loans up one and a half times, while corporate lending was 9% down on a […]
The Hungarian energy services firm ALTEO’s revenue in 2024 increased by 7% compared to the highly successful 2023 financial year, and its EBITDA reached HUF 19.7 billion, slightly higher than a year earlier, the company has announced on the website of the Budapest Stock Exchange (BSE). The results achieved by the company, listed in the Prime […]
In the 4th quarter of 2024, service exports calculated in EUR increased by 0.4%, their imports lessened by 1.6% compared to the same period of the previous year. The surplus amounted to EUR 2.7 billion, exceeding the 4th quarter value of 2023 by EUR 137 million, Hungary's Central Statistical Office (KSH) reported this Monday. In […]
iBanFirst, the leading global provider of foreign exchange and international payments, achieved 137% growth in transaction volumes in Hungary last year, with outgoing payments reaching EUR 1.5 billion, making Hungary the fastest growing market in the Central and Eastern European region, the company told MTI on Friday. iBanFirst received its operating licence from the National […]
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 […]
