The world’s leading manufacturer of electric and plug-in hybrid cars, BYD, is planning to make a historic investment in Szeged, SE Hungary. The Chinese company aims to develop its first European electric vehicle manufacturing plant on a ca. 300-hectare site in Hungary. Due to the investment, thousands of high-added value jobs will be created, and […]
The volume of export increased by 3.0% in October 2023 and that of import lessened by 2.5% compared to the same period of the previous year. The surplus was EUR 1.0 billion, the balance improved by EUR 1.9 billion year-on-year, the Central Statistical Office reports. Compared to September, the seasonally and working-day adjusted volume of […]
Hungary has unexpectedly vetoed a €50 billion EU aid package earmarked for Ukraine, dealing a significant blow to Kyiv's ongoing struggle against Russian aggression. The move follows Hungary's earlier threat to veto accession negotiations with Ukraine. "Summary of the night shift: veto for the extra money to Ukraine," remarked Hungarian Prime Minister Viktor Orbán after […]
Under an agreement signed this Wednesday, MVM Green Generation Ltd. will acquire the 63 MWp Tázlár solar power plant in S Hungary, according to a statement issued by the MVM Group. The transaction is expected to close in the first quarter of 2024. The announcement comes just after the publication in Thursday night's OFFICIAL Hungarian […]
The Monetary Council of the National Bank of Hungary (MNB) cut the base rate by 75 basis points to 10.75% at its last interest rate decision meeting of the year on Tuesday, and also cut the two edges of the interest rate corridor by the same amount. Although the decision was in line with analysts' […]
The Hungarian state-owned Corvinus International Investment Ltd. has concluded agreements on the sale of its 25% stake in Yettel Hungary Plc. and Yettel Real Estate Hungary Plc. and its 20% stake in CETIN Hungary Plc, the Ministry of Economic Development (GFM) told MTI on Tuesday. According to the information, the buyer is the Dutch holding […]
A leading supplier of electric drivetrains, Schaeffler has announced to launch a major R&D project in value of HUF 5.2 billion at its Szombathely site. The development that also creates 94 new jobs will help the German company solidify its market position. Schaeffler Group has been a pioneer of a series of inventions in the […]
Located in the stunning surroundings of the Turracher Höhe, Hotel Hochschober provides luxury, elegance and an experience close to nature at the same time. Visitors can admire the view from the hotel heated pools separated from Lake Turrach, from the panoramic saunas, or even from the nearby mountain railway Panoramabahn, and the new Wildkopfbahn cable […]
RÁBA Automotive Holding Plc. informed the participants of capital markets on the website of the Budapest Stock Exchange this Monday that "on October 31, 2023, it published an extraordinary announcement that on October 31, 2023, a Memorandum of Understanding was signed by RÁBA Plc., N7 Holding Zrt., an internationally significant Turkish defence company, Nurol Makina […]
UniCredit CEO Andrea Orcel has confirmed that the Italian banking group is interested in acquisition opportunities, especially in Central and Eastern Europe, but will continue to take a disciplined approach, the financial portal portfolio.hu quotes Reuters news agency as saying. In an interview with the Frankfurter Allgemeine Zeitung (FAZ), Orcel said that “we are likely […]
The work of Lajos Tihanyi, which has not been seen for 100 years, was bought for HUF 130 million and a painting by Lajos Gulácsy for HUF 140 million at the winter auction of the Judit Virág Gallery, the gallery's communications agency told MTI on Sunday. According to the statement, one of the most anticipated […]
The stock index of the Budapest Stock Exchange (BSE) rose this week, with the BUX 60 closing at 369.18 points on Friday, up 1,699.35 points or 2.90% from a week earlier, MTI reported Sunday morning, along with a brief analysis of the week. Weekly turnover on the stock market was HUF 84.86 billion, up from […]
HelloParks has handed over four new buildings covering 174,000 square meters this year, leasing more than 150,000 square meters of warehouse space in its warehouses in 2023, the industrial property developer, which is part of the Futureal Group, told MTI. Among the new buildings that have been handed over, MG3 is located in Maglód, FT6 […]
Leading Korean automotive thermal solution supplier Hanon Systems invests EUR 117 million to develop three of its sites in Hungary in Székesfehérvár, Pécs and Rétság. The projects promises to create 250 new jobs, whilst a large scale training program is also in the pipeline. Hanon Systems is one the only two full-line automotive thermal solution […]
Germany-based technology group ZF invests EUR 62.5 million to implement two large-scale projects in Debrecen and Kecskemét, two automotive strongholds in Hungary. The investments that promise to create 313 new jobs are set to provide capacities to manufacture auto parts in the EV segment. Global technology group ZF is expanding its operations by setting up […]
