Austrian-owned Erste Bank Hungary booked a first-quarter loss of HUF 5 billion as new rules required the lender to book the full-year windfall profit tax in Q1, chairman-CEO Radovan Jelasity said on Wednesday. Erste Bank had after-tax profit of HUF 20 billion in the base period, he noted. Retail lending stock rose 17% to HUF […]
Christian Dickert has been appointed CEO of Mercedes-Benz Manufacturing Hungary and head of production at the German car maker's plant in Kecskemét from May 1, the company's local unit said on Wednesday. A mechanical engineer by training, he has been with Mercedes-Benz since 2011. Over the course of his career, he has gained extensive management […]
Output of Hungary's industrial sector rose 6.7% year-on-year in March, a first reading of data released by the Central Statistical Office (KSH) on Wednesday shows. Output climbed 3.7% when adjusted for the number of workdays. Output increased in most branches of manufacturing, KSH said. Among the biggest, output in the computer, electronic and optical products […]
The 35th Valley of Arts festival, to be held between July 24 and Aug 2 this year in three villages north of Lake Balaton, will feature some 4,500 programs and 5,000-6,000 artists, organizers said on Tuesday. Festival director Natália Oszkó-Jakab stated the festival was built on partnership, respect and a love of diversity. the village […]
The head of the Hungarian Banking Association, Radovan Jelasity called for "more professional discourse" with economic policy makers at a conference organized by business news portal Portfolio. "The time has come again to become much, much more professional, and to acknowledge that economics also has its laws," he said. With the new government set to […]
Geology scholar and university professor Mihály Pósfai has been elected president of the Hungarian Academy of Sciences (MTA) for the next three years. The closed session at the 200th general assembly on Tuesday also elected MTA literature scholar Gábor Kecskeméti as secretary-general, while psychologist Ilona Kovács will take up post of deputy secretary-general. Deputy presidents […]
The number of guests at commercial and private tourism accommodations in Hungary edged up 0.6% to 1,158,000 in March from the same month a year earlier. Meanwhile the number of guest nights inched 0.9% higher to 2,703,000, data released by the Central Statistical Office (KSH) on Tuesday show. The number of domestic guests rose 1.8% […]
Hungary's banking system is capable of boosting its lending to HUF 40,000 billion, National Bank of Hungary (NBH) governor Mihály Varga said at a conference organized by business news portal Portfolio on Tuesday. Local banks' liquidity position is stable and their lending capacity is sufficient, Varga told the conference on lending. The latest data from […]
The Novohrad-Nógrád Geopark, in the border region between Hungary and Slovakia, has won EUR 3,951,000 in funding from the European Union's INTERREG program for supporting territorial cooperation, the managing director of the Nógrád Development Agency, Lilla Körmendy told MTI on Monday. She said the proposed UNESCO site, the Novohrad-Nógrád Geopark and its surrounding area, is […]
Meat processing company Pick Szeged Plc.’s revenue increased, while its net profit decreased in 2025 compared to the previous year, the meat processing company announced in its annual report published on the Budapest Stock Exchange (BSE) website. The company’s net revenue rose from HUF 85.2 billion to HUF 86.2 billion, while its net profit after […]
A compromise solution that benefits the Hungarian Academy of Sciences (MTA) and all members of the scientific community will be found, Prime Minister-elect Péter Magyar said on Monday, attending the 200th re-election convention of the MTA in Budapest. Péter Magyar told the press after delivering a speech at MTA's 200th general assembly that consultations were […]
After a period of relative stability, the Budapest Stock Exchange regained momentum following the parliamentary elections. The BUX index closed April at 133,787.99 points, representing a 10.2% increase compared to March. Stock market activity picked up even further, with trading volume exceeding the previous month’s level. In terms of the most popular stocks, OTP Bank, […]
Hankook’s 2025 Tire Donation Program has yielded tangible results in day-to-day operations: with the support of the Korean tire manufacturer, approximately 130 domestic nonprofit and charitable organizations were able to carry out their work more safely last year. Among others, the company’s tires have made the daily lives of Hungarian water rescue teams easier – […]
Industrial producer prices in Hungary were 1.2% higher on average in March 2026 than in the same period of the previous year, the country's Central Statistical Office reports. Domestic output prices went up by 1.2% and non-domestic ones by 1.3% compared to March 2025. Compared to the previous month, domestic output prices were 3.3% and […]
The nationwide initiative known as the Tourism eAcademy has been launched, aimed at strengthening the digital competencies of micro, small, and medium-sized enterprises operating in the tourism sector. The project is funded by a non-repayable European Union grant of HUF 1.2 trillion from the Digital Renewal Operational Program Plus (DIMOP Plus), the Hungarian Tourism Association […]
