The rapid improvement in the outlook for Hungarian micro, small, and medium-sized enterprises – which characterized the second quarter – stalled in the third quarter, but SMEs remain optimistic in their forecasts, according to the latest data from K&H Bank’s SME Confidence Index. In its Saturday announcement, the bank stated that the index fell by […]
The gap between the performance of Hungarian hotels and that of other types of accommodations is widening: hotel guest traffic remained stable nationwide during this year’s summer season, whereas private and other types of accommodations saw a significant decline – as noted by the Association of Hungarian Hotels and Restaurants (MSZÉSZ) in its latest analysis. […]
Analysts of Hungarian lender OTP said on Friday in a quarterly forecast that Hungary’s GDP could grow by 1.7% this year and increase by 2.5% in 2027. The director of OTP's analysis center, Győző Eppich said household consumption is expected to drive growth this year, but exports may also help following two years of decline. […]
The government aims to build a knowledge-based economy and the strategically important Hungarian pharmaceutical industry can serve as an example in this regard, Economy and Energy Minister István Kapitány said at a conference of the Hungarian National Association of Pharmaceutical Manufacturers (MAGYOSZ) on Friday. The minister emphasized that the Hungarian pharmaceutical industry is export-oriented and […]
German-owned discount chain ALDI will focus on a stricter discount model to improve profitability based on international experiences, Aldi Magyarország national managing director Bernhard Haider said on Friday. ALDI has examined the countries where the chain operates successfully and they will try to narrow the product range and develop a business model closer to what […]
Wing Group increased its revenue by 41% to HUF 130.26 billion in the first half of the year, primarily due to a higher volume of residential real estate project completions, the real estate development company has announced. EBITDA (earnings before interest, taxes, depreciation, and amortization) rose by 23% to HUF 19.5 billion. Losses from investments […]
The most important domestic economic “story” of the coming years will be Hungary’s planned adoption of the euro; the economic and financial significance of adopting the common European currency is comparable to Hungary’s accession to the EU in 2004. The adoption of the euro is a strategic step that fundamentally determines the future framework of […]
"Who will protect us from ourselves if letters and words abandon us, if sentences freeze into unspeakability and language shatters into fragments?" It was a strikingly dark question with which author András Visky opened the 31st Budapest International Book Festival on Thursday, but it set the tone for four days devoted to the defense of […]
E.ON Hungária Group has been awarded HUF 230bn from the European Union's Recovery and Resilience Facility (RRF) to scale up electricity grid capacity for an additional 2,323 MW of renewables by 2030, the utilities company's deputy-CEO, Ádám Katona said on Thursday. The deputy-CEO acknowledged the government for successfully lobbying to secure the release of Hungary's […]
In September, share turnover on the Budapest Stock Exchange’s spot equity market totaled HUF 566.6 billion, while the average daily trading volume rose to HUF 25.75 billion. The leading investment service providers remained unchanged, with Wood & Company, Concorde and Erste topping the rankings again in September, according to a BSE press release. International stock […]
