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Magyar Telekom Switches Off its 3G Mobile Network

D&T
Jul 1, 2022

Magyar Telekom, the leading Hungarian telecommunications service provider, has announced that it has switched off its 3G network, which is no longer available anywhere as of today. The Company is also preparing for the needs of the future and will continue its multiyear network modernization program launched in 2020. The purpose of the modernization is […]

Hungary Delivers Steepest Rate Hike Since 2008 Global Crisis

D&T
Jul 1, 2022

The National Bank of Hungary delivered the biggest rate cut since 2008, surprising the markets with the size of the move. The monetary decision came after the forint weakened to levels never seen before. The Hungarian central bank raised the base interest rate by 185 basis points to 7.75% this week and policy makers aligned […]

GKI: Higher Hungarian GDP in 2022 and Lower in 2023

D&T
Jun 30, 2022

The Hungarian Economic Research Co. GKI has revised its growth forecast for 2022, it raised its GDP forecast to 3.5-4% from the previous 2.5-3%y, and lowered its GDP forecast for 2023 to between 2.5-3% from 3.5-4%. The change is a consequence of faster-than-expected growth in the first quarter and stronger-than-expected austerity measures and inflation rate, […]

Industrial Producer Prices Up by 32.3% in Hungary

D&T
Jun 30, 2022

Industrial producer prices increased by 32.3% on average in May 2022 compared to one year earlier. Domestic output prices were higher by 43.3%, non-domestic output prices grew by 26.7%, Hungary's Central Statistical Office reports. The rate of increase of prices was influenced principally by the hike in base material and energy prices and by the […]

Daily Heat Record Broken in Hungary

D&T
Jun 29, 2022

Several heat records were broken in Wednesday's heatwave in Hungary, with temperatures reaching over 39 degrees Celsius, the National Meteorological Service has announced. According to their post, the early morning heat records were already broken. "After the hot daytime hours, the night-time, early morning hours did not bring any refreshment until Wednesday morning, with the […]

COVID-19: Still an Average of Three Fatalities a Day

D&T
Jun 29, 2022

3,042 new infections were confirmed in Hungary last week, bringing the total number of identified infections to 1,928,125 since the beginning of the epidemic. The death toll rose to 46,647 as 21, mostly elderly, chronic patients, passed away last week, according to the data by the related government site koronavirus.gov.hu. The website said on Wednesday […]

Nyíregyháza Zoo Receives Another Recognition

D&T
Jun 28, 2022

Nyíregyháza Zoo in NE Hungary, has been named Europe's best zoo in the category between 250 and 500 thousand visitors for the third time, according to an independent zoo expert. The prize was handed over at a ceremony in the Nyíregyháza Zoo where expert Anthony Sheridan said that 126 zoos in 29 countries had been […]

Sixt Opens New Technical Base Near The Airport

D&T
Jun 28, 2022

Sixt, a member of the AutoWallis Group, has built its new technical base in Vecsés, near Budapest's Ferenc Liszt International Airport. Of the HUF 705 million investment project, 40% (HUF 282 million) is covered by Hungarian taxpayers through a decision by the government. AutoWallis classified the construction of the new base a green project, devoting […]

Micro-Grid at the BME Industry 4.0 Technology Center

D&T
Jun 28, 2022

An autonomous electricity network, the so-called micro-grid system, will be built at the Budapest University of Technology and Economics (BME) Industry 4.0 Technology Center with the technical support of Schneider Electric, under a cooperation agreement between the two parties to further strengthen the relationship between the institution and the company in the field of education. […]

Second CSR Awareness Week

D&T
Jun 28, 2022

Last year, the Swedish Chamber of Commerce organized the first CSR Awareness Week in Hungary with great results. This year – between June 27 and July 3rd – many businesses and non-profits have the possibility to create awareness towards CSR and to start a cooperation within a company or between organisations. The aim of the […]

NATPE Budapest International Opens Its Doors

D&T
Jun 27, 2022

The National Association of Television Program Executives (NATPE), the premier global business association for content producers, distributors, streamers and buyers across all platforms, has launched NATPE BUDAPEST 2022 at the opened its doors at the Intercontinental Hotel in the Hungarian capital. President and CEO of NATPE, JP Bommel commented, “with buyer registrations at the 350 […]

Matild Palace Celebrates First Anniversary

D&T
Jun 27, 2022

This Tuesday, the Matild Palace in downtown Budapest celebrates the first anniversary of its opening with special gastronomic offers and surprises. Guests can spend up to a full day in the iconic building of the Belle Époque era, as the the special gastronomic venues of the palace have very rich and varied offers. Guests can […]

HUF vs. EUR: Yet Another Historic Low for the Forint

D&T
Jun 27, 2022

The Hungarian currency, the Forint (HUF) fell to a historic low against the euro again on Monday: after 10 a.m., it suddenly started to weaken sharply from the morning level of around HUF 400, and shortly after a quarter to 11, it was HUF 403.85 to the euro. Minutes later, however, it crossed the HUF […]

Consumer Expectations Significantly Deteriorating

D&T
Jun 27, 2022

After May, GKI’s economic sentiment index fell by five points in June as well to its 15-month low. According to the empirical survey conducted by GKI Economics Research Co. with the support of the EU, business expectations fell again by three points in June, while consumer expectations dropped again by around 10 points compared to […]

Waberer's Establishes a Joint Venture with Magyar Posta

D&T
Jun 26, 2022

WABERER’S INTERNATIONAL has announced on the website of the Hungarian Stock Exchange that – with Waberer's Group as the majority shareholder and Hungarian Post (Magyar Posta) as the minority shareholder (collectively the ‘Parties’) –, a joint venture will be established to serve the Parties' existing and future customers with full range of parcel logistics support. […]

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