Şişecam's glass factory in Kaposvár, SW Hungary, is scheduled to start production in September 2024, the Turkish company's technical manager Burcin Isguden said on Wednesday. Speaking at a press conference at the site of the factory's construction in the Eastern Industrial Park, he said that the project will cost EUR 400 million instead of the […]
HelloParks has expanded its warehousing capacity in Fót and Maglód, both just outside Budapest, and six companies have agreed with the developer to lease almost 18,000 square meters of space in the 26,000-square-meter and 46,000-square-meter buildings, the industrial real estate developer told MTI on Wednesday. The two new warehouses of HelloParks were inaugurated in the […]
As part of its global renovation program, JYSK opened its 2,000th remodeled store in Gödöllő this Wednesday, and the home furnishing chain also opened its 92nd store in Hungary in Nagyatád. According to the company statement released on Wednesday, the Danish retail chain started one of the largest renovation programs in its history in 2021, […]
Chinese-owned Huayou Cobalt has announced to set up its very first European plant in Ács, Komárom-Esztergom county, Hungary. As a result of the almost EUR 1.3 billion investment, substantial cathode material production capacities will be created for electric vehicles. The project that will receive Hungarian government support, the amount of which is to be made […]
Employment in the small and medium-sized enterprise (SME) sector is stable, and 7 out of 10 of the companies concerned are preparing to raise wages, by an average of 9%, K&H said on Wednesday, based on its latest SME Confidence Index research. They added that the survey indicates the expectations of micro, small and medium-sized […]
Many companies in Hungary are unaware that their activities may qualify as research and development (R&D) activities, which could qualify them for tax breaks or cash grants to boost their competitiveness, Deloitte said in a statement sent to MTI. R&D is based on some scientific or technical uncertainty, and is also a novel and methodical […]
The National Bank of Hungary (MNB) has cut its key lending rate by 1 percentage point to 16%, while leaving the base rate unchanged at 13%. The latter is expected to be lowered when the two converge. According to central bank vice-president Barnabás Virág, there are already signs of improvement in inflation, with a figure […]
For the fourth year in a row, the supermarket chain Lidl Hungary supports the Heim Pál Pediatric Institute in Budapest through its foundation: the company has now increased its related annual budget from HUF 78 million to almost HUF 100 million. Lidl Hungary told MTI on Tuesday that as part of its support program, in […]
The economic challenges intensified last year, but Hungary continued to catch up with the EU average, with GDP growth of 4.6%, the Hungarian Central Statistical Office (KSH) said in its publication ‘Hungary 2022’, MTI reports. According to the summary published on the KSH website on Tuesday, geopolitical tensions have worsened energy security, increased inflation and […]
The Hungarian road logistics company Waberer's has rejuvenated its fleet, reducing the average age of its tractor units in the international transport segment to under 2.5 years, the company told MTI on Tuesday. It was recalled that the Waberer's Group has set a target to reduce the average age of its fleet to between two […]
E.ON CEO Leonhard Birnbaum has taken the reins of Eurelectric, the trade body representing the European electricity industry in Brussels. Joined by Vice Presidents Markus Rauramo (CEO of Fortum) and Georgios Stassis (CEO of PPC), the new Presidency makes a strong call to put in place the necessary enablers for a radical ramp up of […]
Holcim Hungary Ltd.'s Open Day for stone mine visits in June was a great success with a record number of participants. The event gave visitors an insight into the daily life of the Bükkösd Quarry, the history and process of limestone extraction, and a first-hand look at the machinery used for extraction. According to a […]
A tourism and cultural visitor center showcasing the world heritage values of the Tokaj wine region has been built in Mád, Borsod-Abaúj-Zemplén county, with HUF 1.493 billion of EU funding, the Tokaj Wine Region Development Nonprofit Ltd. told MTI. The center will be located in the former fire station building in the village of Mád […]
The stock index of the Budapest Stock Exchange (BSE) rose this week, closing at 50,083.93 points on Friday, up 763.23 points or 1.55% from a week earlier, MTI reported this Sunday morning along with a brief analysis of the week’s trading. The weekly turnover of the stock market was HUF 79.06 billion, up from HUF […]
This year’s MHB Bank Gourmet Festival in the Hungarian capital focused on a new generation of culinary professionals. One of them is Edina Makai, the sous chef of the Michelin-starred Budapest restaurant ‘Salt’. She tells Diplomacy&Trade how she ended up in fine dining – something that seemed quite remote many years ago when she studied […]
