Barnabás Virág, Vice President of the National Bank of Hungary (MNB), spoke about the 4+1 factors determining the inflation process in Hungary in a podcast of the Hungarian Competition and Financial Markets Authority, infostart.hu reports. The world has been going through a serious inflationary wave since 2021, the vice-president of the National Bank of Hungary […]
Electricity consumption in Hungary continued to fall in May, continuing a negative trend for almost a year. For the first time, the monthly production of domestic solar parks was already higher than that of natural gas-fired power plants, portfolio.hu reports. In the last month of spring this year, total gross monthly consumption of the domestic […]
For the first time, Visa has awarded women-owned businesses in Hungary, with the five winners receiving HUF 2 million each and one-year mentoring, Visa told MTI on Friday. Visa's She's Next program provides financing, management and development assistance to women-owned businesses. Almost 400 businesses applied to the competition, which was launched in Hungary in March, […]
Magyar Telekom accounted for 2.4% of the turnover of the Hungarian online retail market in 2022, making it the sixth largest online player among Hungarian e-retailers with operations, the company told MTI on Friday, referring to a survey by the GKID analysis and consulting firm. According to the analysis, the growth rate of e-commerce in […]
A top Republican senator is blocking an arms deal between the US and Hungary over the latter’s delay of ratifying Sweden NATO accession. The move is testament to the continuous souring of relations between Washington and Budapest due to Hungary’s stance over the war in Ukraine. Senator James E. Risch, the top Republican on the […]
The majority of companies operating in Hungary are focusing on digital transformation, and only 34% of them do not consider it a significant challenge. K&H's innovation survey, the results of which were communicated to MTI this Friday, measured the most significant increase in the use of machine learning, especially in personalized offer, service and product […]
Electronic payments infrastructure further expanded in 2023 Q1. In addition to the more than 50,000 new accounts, the number of cards in active use also increased. On the acceptance side, the number of acceptance points both in the physical and online space increased by 4-5% in a quarter, the National Bank of Hungary (MNB) reports. […]
The Esztergom plant of Magyar Suzuki Plc produced 129,022 cars in 2022, an annual increase of 20%, while net sales rose by 22.3% to EUR 2.144 billion, the company's executives said at a press conference in Budapest on Thursday. Róbert Krisztián, the company's deputy CEO, added that last year, due to the disruption in logistics […]
Prior to the recent visit to the Hungarian capital by Pope Francis, there were numerous requests to the Apostolic Nunciature in Budapest for an audience by the Pope. One of these came from the Argentine Embassy in Hungary. Their request was accepted and the Embassy issued a statement about the audience the circumstances of which […]
31% of Hungarian employers are planning to expand their current workforce in the third quarter of this year, while 18% are planning to reduce their workforce, Manpower Hungary said on Thursday, based on its labor market forecast. ManpowerGroup conducted its quarterly survey among almost 39,000 employers in 41 countries around the world, asking a representative […]
Hungarian consumers attach importance to sustainability and are even more open to technological innovations than people in other European countries, according to research by GWI, a global consumer behavior research company, presented at an event organized by the Publicis Groupe in Budapest on Wednesday. The London-based audience research company GWI surveyed the habits of internet […]
The Museum of Fine Arts in the Hungarian capital is reopening its renewed exhibition space for graphic art with an exhibition of reproductions of prints by a contemporary German and a 16th-century Venetian painter. With the opening of the new exhibition space on the ground floor of the Museum of Fine Arts, the museum's graphic […]
The Budapest Stock Exchange (BSE) has supported the development of 255 Hungarian-owned medium-sized companies with a total of HUF 2.1 billion through its mentoring program, BSE announced on Wednesday. The statement recalled that the BSE's program for the development of the small and medium-sized enterprise sector was launched in 2018 with EU funding. The mentoring […]
The analysis and development of the innovation ecosystem and the development of a competitive and productive business ecosystem are essential for Hungary's successful and sustainable economic catch-up, András Balatoni, Director of the Economic Forecasting and Analysis Directorate of the National Bank of Hungary (MNB), said at the launch of the Growth Report 2023 on Wednesday. […]
The volume of industrial production in Hungary declined in April 2023 by 8.3%, year-on-year, MTI reports quoting data published this Wednesday by the Central Statistical Office. Based on working-day adjusted data production fell by 5.8%. Production dropped in the great majority of the manufacturing subsections, at the same time the production volume increased in the […]
