The Financial Stability Council of the National Bank of Hungary (MNB) has discussed and approved the 2022 Payment Systems Report. The Council found that payment service developments in 2021 returned to pre-pandemic trends, bringing about dynamic development in terms of the further spread of electronic payments. The development of the electronic payment infrastructure in Hungary […]
In May, consumer prices were on average 10.7% higher in Hungary than a year earlier. Over the past year, food and consumer durables have seen the biggest price increases. Consumer prices rose by an average of 1.7 % in one month, the country's Central Statistical Office reports. In 12 months, compared to May 2021:A price […]
The Soudal Group is the largest independent European manufacturer of sealants, adhesives and polyurethane foams for professional and private users. The Belgian family business was founded by Vic Swerts in 1966, with its Hungarian branch set up 33 years later, in May 1999, in Budapest. As Country Manager János Oltyán explains to Diplomacy&Trade, “at that […]
Budapest's first Information Point for the Elderly opened in the City Hall building on Tuesday, offering help to elderly people with various issues. Budapest Mayor Gergely Karácsony said at the opening ceremony that the opening of the information point is a seemingly small but important step towards making Budapest "truly for all of us." The […]
The works of Roger Ballen, a leading figure in contemporary photography, who creates both documentary and staged images, will be on display from Wednesday at the House of Hungarian Photographers - Mai Manó House in Budapest. Born in the United States in 1950 and living in Johannesburg, South Africa for over 40 years, Roger Ballen […]
Bloomsday will be a two-day contemporary art festival in Szombathely, W Hungary on June 16 and 17 this year, celebrating the centenary of the first book-length publication of James Joyce's iconic work Ulysses. Soma Horváth, deputy mayor of Szombathely, who is also responsible for culture, said at a Bloomsday press conference on Tuesday that the […]
As a result of a government decree, since July last year, workers from already eleven non-EU countries can come to work in Hungary on simplified terms. The relevant provision expectedly will be maintained after the end of the pandemic emergency, since in order to keep Hungarian jobs, maintain the investment rate and the operation of […]
Hungary’s leading telecommunications service provider Magyar Telekom has announced that under Government Decree 197/2022. (VI.4.) on the extra profit taxes, the expected magnitude of supplementary telecommunication tax payable by Magyar Telekom Group for the year 2022 is approximately HUF 25 billion. The company statement highlights that on June 4, 2022 the Hungarian government issued a […]
Last year, domestic and foreign investors invested a total of EUR 225.3 million in venture and private capital in 241 transactions in companies based in Hungary, while the number of companies decreased by 0.4% compared to 2020, while the amount invested increased by 5%, resulting in a slight increase in the average investment amount, approaching […]
VPK Group looks back close to nine decades of history, providing the current management and staff with plenty of experience in this business. The company is present with production facilities all over Europe, offering economic and ecological packaging solutions to its customers. As Bart Dobbelaere, the Managing Director at VPK Packaging Salonta in Romania, also […]
The University of Szeged (SZTE) has concluded a cooperation agreement with thirty secondary schools to support talent management and further education, the public relations department of the higher education institution said. According to the press release, with the signing of the contract, the secondary educational institutions operating primarily in the South Great Plain region became […]
A consortium led by Salgglas Plc. of Salgótarján, NE of Budapest, has developed a smart windscreen, the project with a total cost of nearly HUF 1.5 billion was supported by the Economic Development and Innovation Operational Program (GINOP), the company told the Hungarian state news agency MTI. As they wrote, the pioneering solution allows the […]
The stock index of the Budapest Stock Exchange (BSE) rose on a downward trend this week, closing at 41,304.36 points on Friday, up 6.88% on the previous week's close of 2,659.79 points, the state news agency MTI reported on Sunday morning. Turnover fell from HUF 132.69 billion the previous week to HUF 99.98 billion, with […]
In honor of György Békésy, the National Bank of Hungary (MNB) issued a commemorative silver coin with a face value of HUF 7,500 and the non-ferrous metal version thereof with a face value of HUF 2,000 on the anniversary of the Nobel Prize-winning biophysicist's birth. The special oval-shaped collector coins augment the series presenting Hungarian […]
Porsche Hungaria Trading Co. Ltd. has a special, distinguished role in the domestic automotive distribution as it has been the market leader since its establishment three decades ago. Since January 2021, its CEO has been Balázs Németh, an experienced crisis manager who has spent almost his entire professional career at the company. After graduating from […]
