In a last-minute move, the European Commission has unfrozen €10.2 billion in EU cohesion funds allocated for Hungary just a day before European leaders convene to discuss new aid to Ukraine and the commencement of accession negotiations for Kyiv. Ukraine’s acceptance into the bloc is a matter vehemently opposed by Hungarian Prime Minister Viktor Orbán. […]
The ibis & TRIBE Budapest Stadium Hotel has opened in Ferencváros, Budapest’s District 9, the first hotel in Hungary of TRIBE, one of the Accor Group's fastest growing European hotel brands. Under a management agreement between Accor Hospitality Group and WING Real Estate Development and Investment Group, the dual-branded TRIBE and ibis hotel is owned […]
The Pizza Hut fast-food chain plans to expand further in Hungary, opening new restaurants through franchise partners primarily in rural towns with a population of 30-50,000, the company told MTI on Thursday. The company opened its first franchised restaurant in Szeged in June 2023. Under the franchise system, AmRest, which operates Pizza Hut restaurants, will […]
The Buda Landscape Protection Area, also known as the ‘lungs of the capital’, crossed by the mountain ranges covered with native forests, and the backbone network built by the electricity firm E.ON in the 1970s and ‘80s, which provides electricity to the surrounding settlements, is seeing improvements that will make the grid almost invisible, removing […]
The National Bank of Hungary (MNB) has for the first time carried out a thematic examination of the IT, privacy and other risks of artificial intelligence and machine learning used by banks and insurance companies, the supervision found no violations, but risks that need to be addressed, the MNB told MTI on Wednesday. According to […]
In the first quarter of next year, 31% of domestic employers plan to expand their current workforce, while 21% expect to reduce it. Jobseekers can expect a brisk demand for labor in this period, especially in IT, financial and real estate companies, according to a labor market forecast published by Manpower Hungary on Tuesday. There […]
Erste Group Bank AG has repurchased EBRD's 15% stake in Erste Bank Hungary (EBH), making it the sole 100% shareholder of Erste Bank Hungary. In mid-November, it was announced that the European Bank for Reconstruction and Development (EBRD) would also return its 15% stake in Erste Group's Hungarian subsidiary to the Austrian banking group. The […]
The two Hungarian scientists awarded the Nobel Prize this year, Katalin Karikó and Ferenc Krausz, received their prizes at a ceremony at the Royal Swedish Academy of Sciences in the Swedish capital, Stockholm this Sunday as December 10 is the anniversary of the death of Alfred Nobel, the founder of the prize. Hungarian-American biochemist Katalin […]
The stock index of the Budapest Stock Exchange (BSE) rose this week amid falling turnover, closing at 58,669.83 points on Friday, 658.84 points, 1.14% higher than a week earlier, MTI reported Sunday morning along with a brief analysis of the week’s trading. The weekly turnover of the stock market was HUF 36.65 billion, up from […]
The American credit rating agency Standard and Poor's has affirmed debt rating for Hungary as "BBB-/A-3' Ratings Affirmed; Outlook Stable." The agency projects the Hungarian real economy will expand by 2.6% in 2024 and average 2.8% growth in 2025-2026, after a mild full-year recession whereby real GDP contracted by 0.5% this year. These projections are […]
The state-owned energy group MVM is significantly expanding its portfolio of solar power plants, according to a transaction closed on December 7, when its renewable energy subsidiary MVM Green Generation Ltd. acquires the 100 MWe solar power plant in Kaposvár, Hungary, one of the largest photovoltaic power plants in Hungary, built and owned by CMC, […]
Hungarian Prime Minister Viktor Orbán vehemently opposed the inclusion of Ukraine's accession talks in the upcoming European Council summit on December 14-15, potentially derailing a decision that could shape Ukraine's European future. Orbán's objections introduce an element of uncertainty to Ukraine's aspirations and the broader dynamics of EU decision-making. Hungarian premier Viktor Orbán took to […]
The recently appointed Managing Director of Porsche Hungaria (PH), Tamás Wachtler expects an increase in sales of its brands next year. This, he says, will further strengthen the company's share of the Hungarian new car market, which already exceeds 20%. At a press conference in Budapest on Thursday, Tamás Wachtler said that this is partly […]
In 2022, the expansion of BUD Cargo City, which was opened three and a half years ago and features a 32,000 square metre cargo handling and forwarder building and its own apron, began. In addition, Budapest Airport, the international airport of the Hungarian capital, is continuing to develop its passenger areas. René Droese, Deputy Chief […]
A nearly 200-year-old bottled rarity arrives at the Michelin-plate recommended restaurant Avalon Park in Miskolctapolca, NE Hungary. The auction of 40 bottles of Scotch whisky, dubbed the oldest in the world and discovered by accident, ended on December 5. Avalon Ristorante won bottle number 8 in the auction - for a record GBP 18,000, the […]
