Hungary is teetering on the brink of an economic “crisis” and it is one of the “most economically vulnerable” countries in the world, the central bank governor warned. Adopting an unusually critical tone, György Matolcsy blasted the policy mistakes committed by the government of Prime Minister Viktor Orbán in handling the crisis. The Governor of […]
Mol Campus, the Hungarian oil and gas company's new headquarters in Budapest was opened this Thursday, the state news agency MTI reports. 2,500 people will work in the building to grow the company, as it is necessary to secure Hungary's energy supply, the CEO of the Mol Group, Zsolt Hernádi said at the opening ceremony. […]
As a result of an investment of some EUR 45 million, Nissin Foods substantially ramps up its manufacturing and logistics capacities at its Kecskemét site. Storage space and production volume of the Japanese instant noodle producer will be increased and 50 new jobs will be created. About 7% of the investment cost are covered by […]
The annual inflation rate in Hungary was 22.5% in November, another record high for more than twenty years. As in previous months, food and energy were again the most expensive items, but this figure does not include the impact of scrapping the capped gas(oline) prices, which will only be felt in January. In one month, […]
Yettel Hungary Ltd., one of the nationwide mobile phone operators in Hungary, is spending HUF tens of billions to modernize its mobile network nationwide, having acquired several spectrum parts at the national tenders for frequency. Diplomacy&Trade asked the Chief Legal and Reputation Officer at Yettel Hungary, Márk Erdélyi, what this modernization entails and in what […]
The governing majority of Hungarian Parliament adopted a law on the reform of higher education requirements on Wednesday that, among other things, abolished the language exam requirement for issuing university degrees. According to the new regulation, universities will be able to decide for themselves what language skills they expect their students to have, and the […]
Rail Cargo Hungaria (RCH) has already transported one million tons of Ukrainian grain this year, the rail freight company told the state news agency MTI on Wednesday. The share of grain consignments, consisting of 80% maize, in the freight traffic from Ukraine has increased from 2% last year to 30%, they added. According to the […]
The Hungarian oil and gas company MOL Plc. has notified market players on the website of the Budapest Stock Exchange that it is gradually restarting production at its Danube refinery. MOL initiated a planned shutdown of the Danube refinery in the first half of October 2022. During the restart, it was realized that further maintenance […]
There are 828 patients with the new coronavirus infection in hospital in Hungary, more than double the number from last week (336), according to the weekly report published this Wednesday morning on the related government website. According to statistics made public on the government information portal koronavirus.gov.hu, a total of 4,704 new infections were confirmed […]
Following long lines at Hungarian gas stations due to the shortage of supply of capped priced fuel in the past few days, the Hungarian government announced late Tuesday evening that the capped prices introduced in November 2021 are scrapped as 23.00 hours local time. The Hungarian oil and gas company Mol, the only company supplying […]
Most people in the eastern half of Europe have fond memories of ŠKODA's iconic models – the ŠKODA 100s and 120s –, while the newer models FABIA and OCTAVIA have been family cars for generations. The Czech brand has undergone a huge transformation in recent years, not only by becoming one of the leaders in […]
Several public collections, higher educational institutions, and research institutes are forced to close their doors in the coming winter months in Hungary. The library of Central European University in Budapest, however, remains open, CEU has announced. Furthermore, the leadership of the university decided to expand access to the library for the students and faculty of […]
The latest small satellite of the Budapest University of Technology and Economics (BME), the MRC-100, which will study electro smog around the Earth, has been completed. The spacecraft is scheduled to be launched into space in May 2023. The small satellite was built over three years in collaboration with teachers, researchers and students from the […]
In October 2022, the volume of retail trade in both raw and calendar-adjusted data was 0.6% higher than in the same month of the previous year in Hungary, the Central Statistical Office reports. Details reveal that that in October, calendar-adjusted sales volumes decreased by 5.6% in specialized and non-specialized food shops and by 0.9% in […]
The number of foreign used cars registered this past November did not move upwards either, the JóAutók.hu [‘GoodCars’] dealer portal said in its analysis on Monday, based on fresh data from Datahouse. The number of imported used cars was 9,663, which is 19% lower than the 11,963 registered a year earlier. The monthly sales of […]
