Industrial producer prices were higher by 6.4% on average in June 2023 compared to one year earlier. Domestic output prices were up by 29.8% and non-domestic output prices lessened by 5.0%. The large difference was primarily due to the domestic output prices of energy industry – producing goods basically for the domestic market, within which […]
The stock index of the Budapest Stock Exchange (BSE) rose this week amid declining turnover, closing at 53,339.84 points on Friday, 64.33 points or 0.12% lower than a week earlier, MTI reports along with a brief analysis of the week’s trading… The stock market's weekly turnover was HUF 41.61 billion, up from HUF 56.15 billion […]
Due to several recent events, the state of the Hungarian railways has once again come to the forefront of public interest, so it is worth examining the issue from an international perspective, the financial portal portfolio.hu writes. The OECD has statistics on investment in the segment and the main infrastructure indicators for a number of […]
The European Commission says it has approved a EUR 2.36 billion (approximately HUF 880 billion) Hungarian scheme for accelerated investments in strategic sectors to foster the transition towards a net-zero economy, in line with the Green Deal Industrial Plan. The scheme was approved under the State aid Temporary Crisis and Transition Framework, adopted by the […]
All over the world, tax havens are causing massive losses to countries' budgets. The tax avoidance practices of corporations are costing USD hundreds of billions in lost revenue, but the flight of individuals' offshore assets is also causing massive losses. Hungary is a tax haven for companies, but the wealthiest have saved nearly 5% of […]
The emergence of artificial intelligence (AI) has become an unstoppable force, revolutionizing industries and transforming workplaces across the globe. The demand for AI-powered projects and solutions is growing at an unprecedented rate, and it is becoming evident that harnessing the true potential of AI requires more than just skilled software developers. From managers to entry-level […]
Following the largest order ever received by the Hungarian transport industry, a wide-ranging Hungarian-Egyptian railway vehicle manufacturing cooperation could be launched in the future, taking advantage of the market opportunities in Africa, the Minister of Foreign Affairs and Trade said in Budapest on Thursday. According to a statement by the Ministry of Foreign Affairs and […]
OMV Petrom, the largest integrated energy company in South-East Europe, has announced a project that will connect the region with a network of ultra-fast charging stations for electric cars along the Trans-European Transport Network (TEN-T), the company said in a statement. The project, which has received approval for a European funding contract with the European […]
The Hungarian EV ecosystem is going to be enriched by yet another battery manufacturer that is ranked top 10 in the world, according to the Hungarian Investment Promotion Agency (HIPA). The announcement by Sunwoda of an initial investment of EUR 245 million marks a new chapter in the history of the Chinese firm to set […]
The winners of Generali's sustainability competition have been announced, with the jury selecting the best projects from more than 120. In its Wednesday press release, Generali Insurance recalled that in order to support the stability and efficiency of small and medium-sized enterprises (SMEs) and their transition to sustainable operations, the Generali Group launched the EnterPrize […]
The number of MOL Bubi bike trips has exceeded six million, the Budapest Transport Center (BKK) told MTI on Wednesday. They wrote that the capital's residents have doubled the number of MOL Bubi trips in less than a year. They said that in the past year, the system added around 800 bicycles, new stations were […]
Suzuki is making a further investment of HUF 9.3 billion in Hungary, as part of which the Japanese company is expanding its production capacity and taking a major step towards the carbon neutral conversion of its Esztergom plant, this, the Ministry of Foreign Affairs and Trade informed MTI on Wednesday. According to Minister Péter Szijjártó's […]
A new hotel brand has been launched in Hungary after QPR Properties opened its 151-room luxury hotel, the W Budapest Hotel, in the Drechsler Palace on Andrássy Avenue in Budapest. The conversion of the landmark building, which once housed the State Ballet Institute, into a hotel was completed in two and a half years by […]
At its meeting on 25 July 2023, the Monetary Council of the National Bank of Hungary (MNB) reviewed the latest economic and financial developments and decided to leave unchanged the central bank base rate at 13% with effect from July 26, 2023. MNB’s primary objective is to achieve and maintain price stability. Without prejudice to […]
On the initiative of the Hungarian Bathing Association, the Night of the Beaches will be held again this year on July 29, with half a hundred baths from all over the country joining the national event. As the Bathing Association told MTI on Tuesday, the Hungarian baths are looking forward to welcome the lovers of […]
