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 […]
Industrial producer prices were 9.1% higher on average in January 2025 than one year earlier. Domestic output prices were 6.1% and non-domestic output prices 10.6% higher than in January 2024, the Central Statistical Office (KSH) reported this Friday. The price rise was primarily caused by the annual weakening of the forint exchange rate against the […]
The AutoWallis Group increased its sales to HUF 398.46 billion last year, which is 9% higher than the previous year, while EBITDA (earnings before interest, tax, depreciation and amortization) rose by 2% to HUF 20.175 billion, the company told MTI on Friday. Net profit fell to HUF 6.976 billion from HUF 9.842 billion in the […]
Hungary’s government has acknowledged that it is likely to miss its budget target for 2026, following a wave of pre-election fiscal promises by Prime Minister Viktor Orbán. The Economy Ministry confirmed on Thursday that the country’s budget deficit is expected to reach 3.5% of GDP, surpassing the earlier 2.9% goal, which would have brought it […]
The Sziget (or ‘Island’) Festival in Budapest has been awarded the "Recommended" rating by Greener Festival 2024. The recognition reflects the festival's commitment to sustainability, from reducing waste and using renewable energy sources to promoting inclusivity and responsible dining. Sziget also took home the Greener Innovation Award at the recent ‘A Greener Future’ (AGF) international […]
