April brought a temporary downturn in the domestic real estate market in Hungary, with a thousand fewer transactions compared to the previous month, according to the latest barometer report published by the real estate agency Duna House. Based on Duna House's own data, the number of sales nationwide was estimated at 6,787, which is still […]
The Automotive Research Center of Széchenyi István University in Győr, NW Hungary has signed a cooperation agreement with the Institute of Urban Studies of Seoul University, so joint research, publications and exchange visits can help their further development in the future. The Győr university press release says that Vice Rector and Vice President for Academic […]
The stock index of the Budapest Stock Exchange (BSE) declined on lower trading volumes, closing at 46,044.03 points on Friday, 286.69 points, 0.62% lower than a week earlier, MTI reported Sunday morning along with a brief analysis. The stock market's weekly turnover was HUF 39.02 billion, down from HUF 46.02 billion the previous week, with […]
The sailing season on Lake Balaton started on Saturday with the opening big boat sailing race and the wreath laying ceremony on the lake. This year, 235 people entered the race. The president of the Hungarian Sailing Federation, Csaba Haranghy, called the town of Balatonfüred the capital of Hungarian sailing in his speech before the […]
The Hungarian government may extend by three months energy subsidies available for micro-enterprises and SMEs until the end of March. Such a measure would help thousands of catering and accommodation establishments to manage their overheads, the business news site Napi.hu has learned. In the framework of the SME Energy Costs and Investment Support Program, businesses […]
The Gyula Flowers Festival is held again this weekend, with sixty exhibitors presenting their special plants and horticulture-related products in the southeastern Hungarian town of Gyula. The town's chief gardener, Adrienn Várkonyi Szász said that ten percent of the exhibitors com to the event for the first time. Most of them offer annual flowers, but […]
ITL Group proudly presents the most anticipated annual event of 2023, the Budapest Business Party (BBP23, http://rsvp.budapestbusinessparty.com/). Taking place on June 2nd, 2023, from 6:00 pm to 2:00 am aboard the luxurious "Spoon the Boat," this year's event promises to be bigger, better, and bolder than ever before. Budapest Business Party, organized by ITL Group (www.itlgroup.hu) and powered by Tecnocasa Group (www.tecnocasagroup.hu), is […]
Quarterly operating profit growth was 10.1% without FX effects driven by favorable changes in the product portfolio mix and a relatively slower increase of operating expenses, the pharma company Gedeon Richter reports. In addition, no windfall tax was recorded in 2022 Q1. Excluding FX effects Richter’s gross profit increased by 15.3%, driven by a 17.4% […]
In March, industrial production was 4.1% below the level of the corresponding month a year earlier, MTI reports based on data by the Hungarian Central Statistical Office (KSH). Adjusted for working day effects, production decreased by 4.0%, KSH confirmed in its second estimate on Friday. Production dropped in the majority of the manufacturing subsections, at […]
MOL Group delivered USD 714mn Clean CCS EBITDA in Q1 2023 (a 14% decrease compared to Q1 2022), despite regulatory headwinds and decreasing oil and gas prices, the Hungarian oil and gas conglomerate said this Friday morning, announcing its financial results for Q1 2023 on the website of the Budapest Stock Exchange. According to a […]
The interest rate cap on loans will remain in place until the key interest rate falls below 10%, and extra profit taxes may remain at least partially next year. The interest rate decision may cost the banking sector at least HUF 70 billion, and the special tax may cost the banking sector even more than […]
Since the country's largest wine festival first took place in Szeged, SE Hungary, in 1995, the largest number of exhibitors, 160, will be welcoming guests at the Szeged Wine Festival starting this Friday. As the managing director of Szeged Városkép és Piac Ltd., the organizer of the series of events, Attila Rácz told MTI, visitors […]
Up to EUR 50 million will be invested by Magna Metalforming GmbH to set up a new plant in Vecsés, southeast of Budapest, with the aim to produce structural bodywork items. The investment, which enjoys a 20% state support, is set to create 300 new jobs. Canada-based Magna International Inc. is a listed corporation that […]
As a result of the significant decline in the construction market and lower demand, the building insulation materials firm Masterplasts's revenue decreased by 27% compared to base in the first quarter. According to the company report published on the website of the Budapest Stock Exchange, in the sharply competitive market, Materplast was only able sell […]
Group revenue grew by 12.5% year-on-year in Q1 2023, thanks to continued strong demand for mobile data coupled with further increases in broadband revenues and higher system integration and IT revenues, the telecom service provider reported on the website of the Budapest Stock Exchange. Gross profit improved in line with revenue trends, growing by 13.1% […]
