The managers of German companies operating in Hungary are more pessimistic than recent economic indicators would justify - this was the title of a survey presented by the German-Hungarian Chamber of Industry and Commerce, hvg.hu reports. The survey revealed that business leaders put the vision of the Hungarian economy at -40 on a scale of […]
Japanese-owned TDK Hungary Components Ltd. installs a new solar and heat pump system in the value of HUF 3.4 billion, which essentially enables the company to disconnect from the natural gas grid. The investment will be implemented from the company’s own funds and the incentives available under the Hungarian government’s Factory Rescue Program. TDK Hungary […]
At the end of 2023 Q3, the credit institution sector consisted of ten banking groups, eight solo credit institutions, two financial enterprises subject to prudential regulation affecting credit institutions, as well as nine branches. The decrease in the number of institutions included in the publication was caused by the consolidation of a single domestic credit […]
As the most magical time of the year arrives, the elegant and stunning halls of Budapest's premier luxury hotel, Matild Palace, come alive with a plethora of lavish programs and enticing offers. This year, the historic palace bids farewell to the year in a splendid circus-themed spectacle. Spago Budapest, Matild Café & Cabaret, and The […]
The joint venture between LG of South Korea and Magna of Canada is building its first European factory in Miskolc., MTI reports. The HUF 20 billion investment - over 30% of which is covered by Hungarian taxpayers in the form of non-refundable state subsidy - is expected to create more than 200 new jobs in […]
CE Glass Plc., a manufacturer of insulating and safety glass, has upgraded its production capacity at its plant in Szatymaz, on the outskirts of Szeged, SE Hungary, with the help of EU funding and an investment of HUF half a billion, the company informed MTI. According to the press release, the investment, which was implemented […]
Thanks to a EUR 59.6 million investment BorgWarner takes its Hungarian operation to the next level in Oroszlány, Hungary. The American automotive supplier will add new products to its portfolio to serve demand in the hybrid and electric drivetrain segment. According to a government decision, Hungarian taxpayers cover over a fifth of the investment costs […]
The Hungarian pharmaceutical company Gedeon Richter Plc. has announced on the website of the Budapest Stock Exchange that it expanded its partnership with Mithra Pharmaceuticals SA with a binding Head of Terms (HoT) agreement for the development and commercialization of the first estetrolbased combined oral contraceptive (15 mg estetrol (E4) / 3 mg drospirenone) and […]
In line with its commitment to sustainability and climate protection, the store chain is starting to transform its fleet with four electric and six LNG vehicles. This also means that Lidl has the largest fleet of alternative propulsion vehicles for in-store delivery of goods among the domestic grocery chains. For Lidl, as a responsible company, […]
The stock index of the Budapest Stock Exchange (BSE) strengthened this week, closing at 58,010.99 points on Friday, up 1,919.62 points or 3.42% from a week earlier, MTI reported Sunday morning. The weekly turnover of the stock market was HUF 66.37 billion, up from HUF 34.75 billion the previous week, with the leading stocks, except […]
The Austrian multinational integrated oil, gas and petrochemical company OMV has installed new electric chargers – one on the Buda side of the Hungarian capital and one in the northwestern part of the city of Szeged in SE Hungary. The devices are ultra-fast chargers with a total capacity of 250 kilowatts (kW), with two charging […]
The Finnish Santa Claus, Joulupukki is visiting Hungary again this year at the invitation of the Santa Claus Factory, attending celebrations this time in several towns in the countryside as well. The Santa Claus Factory Foundation said in a statement to MTI that one of the tasks of the guest from the Arctic Circle this […]
While third-quarter GDP data surprised on the upside, the underlying weaknesses of the Hungarian economy will mar the 2024 economic rebound, according to a report by BMI, a Fitch Solutions company. A challenging external environment and a tight fiscal position all point in the direction of suboptimal growth next year. In the third quarter of […]
Business service centers play an unquestionable role in maintaining the competitiveness of the Hungarian economy, István Joó, Government Commissioner and CEO of the National Investment Promotion Agency (HIPA) said at the organization’s Business Services Hungary 2023 conference in Budapest on Thursday. The government commissioner stated that there are already more than 200 business service centers […]
The Hungarian Tire Association (HTA), founded in 2011 by seven international tire manufacturers with manufacturing capacity and representation in Hungary, has published an interview on its website with the Managing Director of Michelin Hungária, Dr. Attila Nemes who says that they aim to produce 100% of their tires from bio-based, renewable or recyclable materials by […]
