The Electrical Insulation and Plastic Factory (VSZM) Ltd., a company specializing in the supply of plastic parts for the mechanical, electrical, construction and automotive industries, has upgraded its production capacity and image, the HUF 695 million investment was recently completed, the Siófok-based company informed the state news agency MTI in a statement. It said that […]
The Hungarian energy company ALTEO Plc. has announced on the website of the Budapest Stock Exchange that as buyer, it has concluded a quota purchase agreement for the acquisition of the registered capital representing the entirety of the business interest in EDELYN SOLAR Ltd. (‘target company’) amounting to forints HUF 3,000,000 (three million) from individuals, […]
The final statement of Jeddah Security and Development Summit, including the Members of the Gulf Cooperation Council (GCC), Jordan, Egypt, Iraq and the United States, is issued as follows, according to the Saudi Embassy in Budapest. 1.At the invitation of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, King of […]
Following the visit of U.S. President Joe Biden to Saudi Arabia, the following joint statement was issued according to the Saudi Embassy in Budapest. At the invitation of the Custodian of the Two Holy Mosques, King Salman Bin Abdulaziz Al-Saud, President Joseph R. Biden conducted an official visit to the Kingdom of Saudi Arabia July […]
There were over 21,000 people registered as actively infected with the new coronavirus in Hungary in the previous seven days with an increasing number of patients in hospital, according to the Wednesday report of aggregated figures published on the related government website koronavirus.gov.hu. COVID-19 figures on the site suggest that 10,255 new infections have been […]
The investment – over one third of which is paid for by Hungarian taxpayers with a non-repayable amount of HUF 5.5 billion through a government decision – took 15 months to complete and will create 50 new jobs while maintaining the existing 600 jobs. The factory in Dunaföldvár, south of Budapest, was built in 2018 […]
The ruling party majority of Hungarian Parliament adopted Hungary's 2023 central budget on Tuesday by 135 votes to 54. In next year's budget, the government expects economic growth of 4.1%, a deficit target of 3.5% and inflation of 5.25%. Earlier, Finance Minister Mihály Varga said the government was counting on several factors: a prolonged war […]
The changing economic situation is also affecting the real estate market. The Duna House Demand Index showed a steady decline in the second quarter of the year, with the number of transactions also lagging compared to the same period last year. However, price growth did not stop, and all price indices increased in nominal terms […]
Wellis Hungary Co. Ltd. is to cut part of its massage pool production at its plant in Dabas, southeast of Budapest, and will therefore shed 300 of its 950 employees, the business daily Világgazdaság reports. As part of the reorganization, a new development and service center will be established in Dabas with the expansion of […]
Hungary’s three-time Olympic champion Áron Szilágyi defeated France's Maxime Pianfetti 15:14 in the men's individual saber final of the World Fencing Championships in the Egyptian capital Cairo this Monday, taking a title hitherto missing from his impressive medal collection. For a place in the quarter-finals, Szilágyi competed with fellow Hungarian fencer András Szatmári. Szilágyi quickly […]
Hungary's OTP Bank Plc. has announced on the website of the Budapest Stock Exchange that the financial completion of the transaction to purchase 100% shareholding of Alpha Bank Albania SH.A., the Albanian subsidiary of the Alpha Bank Group was completed on July 18, 2022, based on the share sale and purchase agreement concluded between OTP […]
The Atlas World Community – members who share the same E.S.C. values: Ethics, Sustainability and Creativity, in the business world – had the opportunity to meet this July. The 'Atlas Award' revelation took place at the Aranybástya restaurant in Budapest. The event, organized by the founder, ITL Group, to present the masterpiece created by the […]
Bernarda Pera of the United States has won the USD 250,000 Hungarian Grand Prix women's clay court tennis tournament in Budapest, defeating Serbia's Aleksandra Krunic in two straight sets (6-3, 6-3) in Sunday's final. On the final day of the tournament at the Római Tennis Academy, the final was played in bright sunshine, 26 degrees […]
The summer plans of Hungarians have been substantially revised by inflation and the weakening of the Hungarian currency, the forint. Two-thirds of Hungarians have not been and do not plan to go on holiday this summer, according to a Publicus Institute survey conducted by phone and online between June 30 and July 7, commissioned by […]
The Budapest Stock Exchange (BSE) share index fell on a downward trend this week, with the BUX closing at 39,659.23 points on Friday, down 187.41 points or 0.47% on the previous week. Turnover fell from HUF 46.99 billion the previous week to HUF 40.24 billion, with leading shares performing mixed, the state news agency MTI […]
