The surplus of the external trade in goods amounted to EUR 366 million in April, the adjusted volume of exports decreased by 2.3%, that of imports lessened by 0.3%, compared to March, the Central Statistical Office says in its latest report released this Monday. In April 2023, the volume of exports declined by 1.1% and […]
Bilateral ties between Hungary and the UK have become of a different order of magnitude following Brexit, UK Ambassador to Hungary Paul Fox tells Diplomacy &Trade. Despite political differences over the war in Ukraine and Sweden’s NATO accession, the two countries are enjoying a more direct relationship and economic cooperation is growing dynamically. The Ambassador […]
In an exclusive interview with Andrea Solti, President of the Hungarian Business Leaders Forum (HBLF) and Country Chair of Shell Hungary Plc., Diplomacy&Trade explores HBLF's commitment to championing social causes and promoting diversity and equality in the business sector. With a focus on HBLF's involvement in the European Diversity Month, she sheds light on the […]
The stock index of the Budapest Stock Exchange (BSE) rose this week, with the BUX 50 closing at 505.73 points on Friday, 0.2% higher than a week earlier, MTI reported Sunday morning along with a brief analysis of the week’s trading. Weekly turnover on the stock market was HUF 35.325 billion, up from HUF 32.212 […]
Thibaut Drege has been the General Manager of the Four Seasons Hotel Gresham Palace in Budapest since January this year. He tells Diplomacy&Trade about the importance of creating bonding with the clientele who appreciate the prime location and comfort of the hotel but even more the friendly experience provided by the staff. “This hotel is […]
Within the framework of the international E.ON Group's ultra-fast charger installation program, the company has planned to install more than 1,000 ultra-fast charging points with a capacity of 150 kilowatts (kW) in nine European countries. Two of these charging stations were inaugurated in the parking lot of an Aldi supermarket in Székesfehérvár as the first […]
Intersnack Hungary Ltd., the manufacturer of Chio snack products, has invested HUF 1.5 billion in a new automatic packaging system at its factory in Győr, NW Hungary. Intersnack Hungary said that the new machines are part of the company's consistent development over the past 10 years. The company has invested nearly HUF 4.5 billion in […]
Key new facilities at BorsodChem Plc.’s site in Berente have been officially inaugurated as part of developments that started in 2019. The latest projects that added major production capacities and an on-site power plant to the chemical company’s operation were implemented for EUR 400 million. A member of the Chinese Wanhua Group, BorsodChem manufactures plastic […]
The inauguration of a fully automated high bay warehouse with increased co-pack capacity marked the completion of Unilever’s two-phase investment in a total amount of EUR 60 million in Nyírbátor, NE Hungary. Thanks to the capacity extension, potential output can soar by some 70%. For over 30 years, Hungary has been a very important manufacturing […]
Industrial producer prices rose by 11.2% on average in Hungary in May 2023 compared to one year earlier, the Central Statistical Office reports. Domestic output prices were up by 36.5% and non-domestic output prices lessened by 1.1%. The large difference was primarily due to the domestic output prices of energy industry – producing goods basically […]
Hungarian lawmakers will vote on Sweden’s NATO accession bid after parliament’s summer recess the earliest as the issue has not been put on the agenda of the last session before the summer break. Hungary is the only EU member state not to ratify Sweden’s bid after the latter’s criticism of eroding democratic values and a […]
The Eötvös Loránd University (ELTE) of Budapest and the Japanese instrument manufacturer JASCO Corporation have signed an agreement aimed at the development of the pharmaceutical industry, it was announced at the event of the University's Innovation Center's Territorial Innovation Platform (TIP) in the Hungarian capital on Thursday. Balázs Hankó, Minister of State for Innovation and […]
The business sentiment index regularly measured by the National Bank of Hungary (MNB) rose to -8 points from -10 in the previous month, the institution has reported on its website. The current situation index rose from -28 to -23 points in May, while expectations fell from +9 to +7 points, the lowest in 5 months. […]
The Hungarian construction material manufacturing company MASTERPLAST Plc. has informed investors that this Wednesday, it signed a joint document with the Polish firm Selena FM S.A. to implement an investment in the production of glass wool in the framework of a strategic cooperation. According to the statement, Selena FM S.A., a globally experienced Polish manufacturer […]
The general meeting of Zwack Unicum Plc. decided to pay a dividend of HUF 1,700 (about 9.5%) per share, totaling HUF 3.460 billion, the company announced on the website of the Budapest Stock Exchange (BSE) on Wednesday. At Wednesday's meeting, shareholders approved the company's financial statements for the 2022-2023 financial year. Zwack Unicum Plc's gross […]
