British McLaren driver Lando Norris, second in the world championship standings, won the 40th Formula One Hungarian Grand Prix ahead of his teammate, Oscar Piastri of Australia at the Hungaroring circuit this Sunday. Finishing third in the 70-lap race was George Russell, the British Mercedes driver, while Charles Leclerc of Monaco, who started from pole […]
Switzerland-based pharmaceutical company Sandoz came to be an independent company in October 2023. For 20 years prior to that, it was the generic businesses division of Novartis. Now, Sandoz is a global leader in generic pharmaceuticals and biosimilars with the focus on bringing high quality medicines early to patients at affordable cost. The local subsidiary, […]
The second month of summer was also positive on the Budapest Stock Exchange, as the BUX index reached the psychological threshold of 100,000 points for the first time, the financial website penzcentrum.hu reports. The second month of summer was also positive on the Budapest Stock Exchange, as the BUX index reached the psychological threshold of […]
Stadler Trains Hungary Ltd., a subsidiary of Stadler Rail Group, the Swiss manufacturer of railway rolling stock, celebrates its 20th anniversary this year as it was established on December 1, 2005, after winning the public procurement procedure for the purchase of 30+30 suburban trains from MÁV Hungarian Railways. As Chairman Dr. Róbert Homolya describes to […]
The Swiss publishing company Ringier entered the Hungarian market over 30 years ago, in 1993, with the establishment of a subsidiary. The Chief Executive Officer at Ringier Hungary, Tibor Kovács tells Diplomacy&Trade about the common values that Swiss-based companies operating in Hungary share and represent to all their stakeholders; the firm pillars Ringier Hungary is […]
US-based GE Vernova is launching a major investment at its Hungarian plant, aimed at expanding manufacturing capacity, enhancing technology and improving the energy consumption efficiency, the Hungarian Investment Promotion Agency (HIPA) reports. The project costing EUR 22.5 million, almost 30% of which is covered by Hungarian taxpayers through a government desision, will see the modernization […]
SAP Hungary and the Faculty of Informatics of the Budapest university ELTE signed a cooperation agreement to develop modern business technology platforms that combine university and corporate knowledge and can be configured to meet specific needs. SAP is one of the world's leading companies in business applications, data management, and artificial intelligence-based solutions, combining more […]
Hungary narrowly avoided slipping into recession in the second quarter of 2025, but fresh economic data and a downgraded growth forecast point to mounting challenges for Prime Minister Viktor Orbán ahead of next year’s general election. Gross domestic product rose by 0.4% in the April–June period, following a revised 0.1% contraction in the first quarter, […]
Hungary’s leading innovative pharmaceutical company, Novartis has been present in this country since the early nineties. The head of the local subsidiary, Novartis Hungary Ltd., Colette Matz tells Diplomacy&Trade about the company’s activities on the Hungarian market with special regard to the company’s contribution to Hungarian healthcare. The General Manager states that Novartis is proud […]
STOBAG Group, a leading Swiss manufacturer of sun protection systems, is build-ing its largest production facility in Hungary through a capacity expansion investment supported by the Hungarian Investment Promotion Agency (HIPA). As a result of the EUR 21.5 million development, the company’s factory in Sülysáp, southeast of Budapest – in operation for ten years – […]
The personnel of the 69th rotation of the Hungarian Defence Forces Baltic Quick Reaction Alert (QRA) Detachment – stationed in a lead nation role at Šiauliai Air Base, Lithuania – are about to start performing air policing tasks for the fourth time as of August 1, the Hungarian defense website honvedelem.hu reports. The airmen are […]
Virág Csiszár, Sziget’s International Booking Manager, presented — at a recent press conference — the music programs for the festival’s major stages, highlighting that this year’s lineup is both incredibly current and highly diverse. Among the Main Stage headliners are Kid Cudi, who is one of the most intriguing figures in American hip-hop and R&B […]
Hungary’s Bonafarm Group signed an agreement to acquire Friesland Romania S.A., the Romanian subsidiary of Dutch multinational dairy company Royal FrieslandCampina, the company told MTI on Thursday. The transaction is expected to be completed at the end of the year, following competition law and regulatory approvals. No information was provided on the expected value of […]
Industrial producer prices were 5.1% higher on average in Hungary in June 2025 than one year earlier. Domestic output prices were 3.3% and non-domestic ones 6.0% higher than in June of the previous year. The price rise was primarily caused by the annual weakening of the HUF exchange rate against the EUR, as well as […]
The most important task of the Hungarian Investment Promotion Agency (HIPA) is to provide professional assistance to foreign and Hungarian companies wishing to invest in Hungary. In 2024, with the help of HIPA, foreign investors decided to launch 77 projects in Hungary, which is estimated to bring more than EUR 10 billion in fresh capital […]
