Swiss-owned Nestlé implements yet another investment in its pet food plant in Bük. As a result of the development in value of HUF 55 billion, 130 new jobs are expected to be created, whereas the output to go up by over 50,000 tons a year. The project marks the last phase of a series of […]
Hungary's economic landscape has shown signs of strain, with the last quarter's performance failing to meet analyst expectations and casting a shadow over the 2024 outlook. Despite previous rebounds, the nation's economy hit a snag, marking a concerning pause in its recovery trajectory. The Central Statistics Office (KSH) revealed a stagnant year-on-year output in the […]
54% of CEOs in Hungary are confident that the global economy will grow faster in 2024, while 60% are confident that the domestic economy will improve, after last year's record pessimistic year, according to the 13th edition of PwC's CEO survey in Hungary. The survey of 297 Hungarian CEOs found that 22-22% expect a slowdown […]
Driving habits are changing, with 25-30% more people using car-sharing last year than a year earlier, the Future Mobility Alliance told MTI on Thursday. According to their data, vehicles by the three big Hungarian carsharing providers – GreenGo, wigo and Mol Limo – have covered more than 70 million kilometers with their cars since their […]
Trade turnover between Hungary and Turkey reached a record high last year, and the two sides have taken important steps to further strengthen economic relations, Minister of Foreign Affairs and Trade Péter Szijjártó said in a statement issued by the Ministry of Foreign Affairs on Thursday after the inaugural meeting of the Hungarian-Turkish Joint Trade […]
The retail chain Auchan Hungary and Nhood Hungary, which manages the Auchan shopping centers, will install solar panels worth EUR 20 million on the roofs of their buildings to increase the energy efficiency of their properties, the companies informed MTI on Tuesday. The investment started in the second half of 2022, as a result of […]
In an effort to gear up for the transition, leading OEM Stellantis invests EUR 103 million to introduce production of electric drive modules (EDMs) at its plant in Szentgotthárd, Hungary. The investment is part of the company’s Dare Forward 2030 strategic plan that outlines ambitious electrification objectives. Stellantis’ preparations for the transition are going full […]
Europtec Ltd., a company with a Swiss background, is building its fourth production hall in Zalaegerszeg, SW Hungary, with an investment of about EUR 5 million, the company's managing director, Gábor Belső said at a press conference in the Zala county seat on Monday. He recalled that the company, which manufactures precision plastic components, has […]
The Budapest Stock Exchange's (BSE) share index, the BUX, fell by 307.33 points, or 0.47%, this week compared to last Friday, ending the week at 64,982.98 points, MTI reported this Sunday. Total turnover fell from HUF 70.775 billion to HUF 37.747 billion on a weekly basis, with the leading shares, with the exception of Richter, […]
Hungarian President Katalin Novák announced her resignation in a speech aired on television Sunday evening. The move comes after her decision to pardon a man last year who had been convicted of concealing a string of child sexual abuses in a state-run children’s home. "In April last year, I decided in favor of granting pardon […]
LIBERTY Dunaújváros, Hungary's largest steel producer, which was acquired by LIBERTY Steel Group in October 2023, has restarted production, according to a company press release. The company is continuously expanding production in order to serve its customers in Hungary and Europe at the highest possible level as soon as possible, the European President of LIBERTY […]
In January 2024, inflation continued to fall at a rapid pace, the National Bank of Hungary (MNB) says in an analysis published this Friday. Consumer prices rose by 3.8% in annual terms, thus 34 months after March 2021 the price index fell back into the central bank tolerance band. Core inflation and core inflation excluding […]
The European Commission has initiated legal proceedings against Hungary's newly passed "sovereignty law," underscoring the ongoing tensions between Brussels and Budaőest. The legislation, ratified by the Hungarian parliament in December, has sparked controversy for its potential to infringe upon fundamental democratic principles and rights. The contentious law introduces the "Office for the Defence of Sovereignty," […]
The 4 millionth car was produced at Suzuki's Esztergom plant, northwest of Budapest, on Thursday, with the company planning to produce 130,000 cars this year, following 160,000 in 2023, Magyar Suzuki Plc. told MTI. Deputy CEO Róbert Krisztián recalled to journalists at the factory that production at the Japanese carmaker's Hungarian plant started in 1992. […]
Zwack Unicum Plc. achieved gross sales of HUF 31.58 billion in the first three quarters of the 2023-2024 financial year, up 3.4% year-on-year, while its profit after tax was HUF 3.2 billion, a 16.4% decrease, the company announced on the website of the Budapest Stock Exchange (BSE) on Tuesday. According to the report, net sales […]
