The pharmaceutical firm Teva Gyógyszergyár Plc. has built a new, specialized production facility in Debrecen worth more than USD 2 million (HUF 673.6 million). The significance of the investment is increased by the fact that the development of the product manufactured in the facility was also carried out by researchers in Debrecen, the company told […]
The Hungarian e-commerce market is expanding with a new player: the OTP Group has announced the launch of its webstore fizz.hu. Forbes.hu reports that the bank's employees will start testing the webstore in a closed round next Tuesday. According to the newspaper's market sources, a sharp launch is expected by the end of the summer. […]
One of Europe's leading transport and logistics companies, Gebrüder Weiss (GW), will be the first tenant of the Pt2 warehouse in HelloParks Páty Megapark. The company will lease 22,000 sqm of the 42,000-sqm industrial property, currently under development as the second building of the industrial park, less than 10 kms west of Budapest, and will […]
The 17,000-square-meter production hall to be built in District 15 of the capital by Market Építő Plc. has reached its structural completion stage. The new hall will expand Siemens Energy's site and will be used to manufacture components for gas power plants. Construction is scheduled for completion in the last quarter of 2023, the construction […]
India's Liberty Steel has been selected as the winning bidder in the tender for the Dunaferr iron and steel plant in liquidation in Dunaújváros, central Hungary. The news was announced by the Ministry of Economic Development. The ministry's statement recalled the steps leading up to the tender and underlined that as the next step in […]
All Bosch Group products and solutions are planned to either incorporate artificial intelligence (AI)-based technology or will be developed and manufactured with the help of AI this year, the company told MTI on Monday. The company had originally set this as a target for 2025, but is on track to implement plans two years earlier, […]
The total Industrial & Logistics (I&L) property sector stock for the CEE-12 region has grown to exceed 65 million sqm, with 25 million sqm situated in and around the 12 capital city markets, the international property consultant company Colliers says in its latest report. Poland, as the largest country of the group covered in this […]
The value of Hungarian exports was 5.2% higher, while that of import 5.4% lower in EUR terms in May 2023 than in the same period of the previous year, the Central Statistical Office reports. The balance of the external trade in goods improved by EUR 1.3 billion. Compared to the previous month, the level of […]
The 5th International Family Firm Conference organized recently by the prestigious Corvinus University of Budapest, brought together experts and successful business leaders from Hungary and abroad to shed light on the immense potential of family businesses in Hungary and the challenges they are facing. The conference, where the main focus was HR activities, delved into […]
In the WittyLeaks series, Diplomacy&Trade regularly publishes the personal accounts of ambassadors and other diplomatic mission leaders accredited to Budapest. As I stepped into the role of the Ambassador of Egypt to Hungary, little did I know that this opportunity would lead me on a remarkable journey of discovery, cultural immersion, and friendship. From the […]
BUX, the stock index of the Budapest Stock Exchange (BSE) weakened this week amid falling turnover, closing at 49,891.95 points on Friday, 1.22% lower than a week earlier, MTI reported this Sunday, along with an analysis of the week’s trading. The weekly turnover of the stock market was HUF 32.04 billion, up from HUF 35.32 […]
The international credit rating agency S&P Global Ratings has affirmed its investment-grade rating of 'BBB minus/A-3' on Hungarian government debt obligations in foreign and local currency with long and short maturities. Two weeks ago, Fitch Ratings also affirmed Hungary's sovereign rating at 'BBB', also with a stable outlook. S&P explained its affirmation decision by stressing […]
The new Land Rover Defender is the modern reincarnation of the legendary off-roader that created the brand, the Land Rover Series I, inspired by American SUVs after World War II. The Defender, which has won a string of professional accolades, embodies the highest levels of performance, on-road and off-road capability and design. Ever since it […]
Among others, Kobo Town, Kommuna Lux, Gangar, Ti'Kaniki, Puuluup, Koza Mostra, Vinicio Capossela, Djely Tapa and Barrut will be among the world music acts on the Global Village stage at this year's Sziget Festival. From August 10 to 15, a wide range of genres and styles will line up, from Mexican cumbia punk to Celtic […]
Consumer prices were 20.1% higher on average in June 2023 than a year earlier, the Central Statisrtical Office (KSH) reports. According to a statement by the National Bank of Hungary (MNB), the 1.4% decrease compared to the prevous month was due to lower increase in the prices of food and industrial products. The highest price […]
