David Pressman, the diplomat nominated to head the U.S. Embassy in Budapest, arrived in the Hungarian capital Friday morning. “These are complicated times, and in complicated times, it is more important than ever for friends to pull each other closer. The United States is a friend of Hungary and of the Hungarian people,” he told […]
An investment of EUR 49 million at its site in the village of Bugyi, located near Budapest, is set to boost the growth of electric installation manufacturer OBO Bettermann. The German company that celebrates 110 years of operation will build a new surface treatment plant, expand its logistics capacity, and create 100 new jobs as […]
The National Bank of Hungary raised borrowing costs to an 18-year high this week, taking the European Union’s highest interest rate to 11.75%. Policy makers vowed to tighten monetary conditions further, in contrast with other central banks in the region. The Monetary Policy Council of the National Bank of Hungary delivered yet another massive interest […]
Erste Bank has received regulatory approval to acquire the Hungarian subsidiary of Commerzbank. Migration preparations are already underway and the transaction is expected to be completed in the second half of 2022 with the integration of Commerzbank's Hungarian subsidiary, which will allow Erste to further expand its corporate business. According to a statement by Erste […]
The second cycle of the Program for the International Assessment of Adult Competencies (PIAAC), the most comprehensive international survey of adult skills, will start in Hungary on September 1, the Hungarian Central Statistical Office (KSH) has announced. The survey will examine the basic competences used in everyday life and work – reading comprehension, elementary reading, […]
The National Public Health Center (NNK) has confirmed monkeypox infection in six more people. Including them, it is 70 people who have been diagnosed with the disease in Hungary, the NNK told the state news agency MTI on Thursday. The Center said the cases confirmed last week were men aged between 29 and 43 living […]
The work of researchers in Szeged, SE Hungary, may in future allow specialists to diagnose early cancer with nano-gold injected into the body, the state news agency MTI learned from the Hungarian Academy of Sciences (MTA) this Thursday. According to the release, Edit Csapó Juhász, a researcher at the University of Szeged (SZTE) and her […]
Consumption growth was the most significant factor in the second quarter GDP growth figure of 6.5%, which exceeded expectations, with the tourism and logistics sectors leading the expansion. For the third quarter, analysts expect a significant contraction, the business news site napi.hu reports. In the first half of 2022, economic output was 7.3% higher than […]
Duna House Group reported its strongest quarter ever in Q2 2022. The Italian acquisition has delivered the expectations, while giving stability via the euro exposure, it contributed more than 50% of revenue and more than 60% of EBITDA. The Group faces a period of challenges and opportunities in the current market environment. Following tripling the […]
Industrial producer prices were up by 37.9% on average in July 2022 compared to pandemic figures one year earlier. Domestic output prices were 52.7% and non-domestic output prices 30.4% higher, the Central Statistical Office reports. The higher rate of increase in domestic output prices was owing to the larger proportion of the energy industry, where […]
In the first half of 2022, PannErgy's consolidated sales revenues grew by 7% to HUF 3,686 million year on year, representing an increment of HUF 242 million. HUF 3,093 of the total sales revenue of HUF 3,686 million originates from the sale of heat, up 5% year-on-year. According to the executive summary of the H1 […]
The number of fatalities related to the new coronavirus infection in Hungary last week was 100, over 12 times the previous week’s figure (8 deaths), according to the government website koronavirus.gov.hu. Last week's outbreak data from the official information site also states that the number of new infections was 12,157 (compared to the previous week: […]
‘Balloon’, a painting by renowned Hungarian artist Pál Szinyei Merse has been reproduced on a 500m² firewall in the courtyard of the Budapest high school named after the painter. “It is unique not only in Budapest, but also in Hungary, to put an authentic reproduction of a famous painting on a firewall. In nearly 20 […]
At its meeting on August 30, 2022, the Monetary Council of the National Bank of Hungary (MNB) reviewed the latest economic and financial developments and decided on raising the central bank base rate by 100 basis points to 11.75% - the highest in 18 years - with effect from August 31, 2022. This means that […]
The overwhelming majority of Hungarian society rejects the government's plan to tackle the energy emergency by easing logging. This is according to a representative opinion poll commissioned by Greenpeace Hungary and conducted by Policy Solutions and ZRI Závecz Research. “The government's scandalous firewood decree of August 4 was cosmeticized by a subsequent ministerial order, but, […]
