Hungary’s economic performance stumbled at the end of last year, confirming analyst views that the economy was in a technical recession from the second half of last year. The government expects the economy to expand in 2023. Hungary’s statistical office reported a contraction for a second consecutive quarter this week. Gross domestic product (GDP) fell […]
Initial studies and surveys have found thermal water beneath Procter & Gamble's plant in Csömör, just outside Budapest, and thanks to the company's fortunate geographic location, it has embarked on a long-term planning process in collaboration with the Csömör Municipality to replace its entire natural gas consumption with geothermal energy. "In the current energy market […]
Hungarian freight forwarding and logistics firm Trans-Sped Kft. celebrated the inauguration of its brand-new logistics hall in Nagytarcsa. The investment is part of a seven-year development plan that mobilizes EUR 23 million and creates 257 new jobs. The Hungarian state covers 30% of the investment costs. Seated in Debrecen, fully Hungarian-owned Trans-Sped Kft. has been […]
MOL Group announced its financial results for Q4 and full year 2022 on the website of the Budapest Stock Exchange. Despite the unprecedentedly turbulent external environment, MOL Group generated USD 1.074 billion in the fourth quarter of 2022, bringing full-year EBITDA to USD 4.702 billion. Upstream and Downstream together provided 95% of this result in […]
Last year, the Hungarian Food Bank Association saved and distributed food worth around ten billion forints to the needy, helping around 240,000 people in need. Last year, the Association saved almost one and a half times as much food as in the previous year to keep up with the growing needs of the needy, the […]
Forbes Travel Guide ('FTG'), the only global rating system for luxury hotels, restaurants, spas and ocean cruises, today announced its 2023 Star Awards. Kempinski Hotel Corvinus Budapest earned a new Forbes Travel Guide Four-Star award. Kempinski Hotel Corvinus Budapest defines contemporary luxury in its outfitting, as well as service, in the heart of Budapest. Boldly […]
Gedeon Richter Plc. and Mithra Pharmaceuticals have announced that they signed a license agreement for the commercialisation of Donesta®, a novel product candidate for the treatment of post-menopausal symptoms, according to a statement on the website of the Budapest Stock Exchange. The completion of the agreement follows the signing of the Binding Term Sheet by […]
31, mostly elderly, chronic patients died last week (up from 30 in the previous week), bringing the official total number of deaths in this country to 48,738, the government's Coronavirus Press Center said on Wednesday. 830 new infections were confirmed in the past week (also slightly up from the previous week), bringing the total number […]
The 2022-2023 edition of the International Property Awards were held in London earlier this month with Matild Palace, a Luxury Collection Hotel Budapest winning seven awards. The International Property Awards is a world-renowned mark of excellence, celebrating the highest levels of achievement by companies operating in all sectors of the property and real estate industry. […]
The peak of solar panel electricity production has been broken, with domestic solar power plants producing nearly 2,000 megawatts more than ever before on February 10, the Ministry of Energy told MTI on Tuesday. Weather-dependent renewables accounted for more than a third of total domestic electricity consumption on the record-breaking day, the statement said. The […]
Hungary’s gross domestic product increased by 0.4% according to raw data and by 0.9% according to seasonally and calendar adjusted and reconciled data in the 4th quarter of 2022 compared to the corresponding period of the previous year, the Central Statistical Office reports. Compared to the previous quarter, the economic performance diminished by 0.4% according […]
Belotti Ltd., a company specializing in the construction of industrial floors, is building a factory hall of 600 square meters in Szekszárd, southern central Hungary with 50% support from the Economic Development and Innovation Operational Program Plus. The facility, which will be built as an extension of the company's existing 400-square-meter warehouse and production hall, […]
Two thirds of the EU's globally endangered Saker falcon population nest in Hungary. The work in the six-year project to protect this Hungarian bird of prey is being supported in 75% by the European Union's LIFE program with co-financing from the Hungarian state and project partners. The Saker is Hungary's cult bird, most probably the […]
Waberer’s International Plc. has announced on the website of the Budapest Stock Exchange that it signed a contract with Bayer Construct Construction Plc. this Monday for the construction of a warehouse complex in Ecser, east of Budapest. The size of the planned new warehouse is 47,000 square meters, the total investment amount of the warehouse […]
The first well at the hydrocarbon deposit discovered in the Sarkad region is put into operation this Monday, while drilling of the second well at the Nyékpuszta field will start in the coming days, the Ministry of Energy (EM) has informed MTI. The government is strengthening Hungary's energy sovereignty and security of supply by meeting […]
