The Hungarian forint has been one of the weakest performing currencies worldwide amid an international selloff. Despite government reassurances that the fundamentals of the Hungarian economy are strong and sound, the forint remain under massive pressure. Diplomacy&Trade takes a look at the specific reasons behind the forint’s underperformance and how the currency’s weakness threatens the […]
This year, the French Institute is once again celebrating the French National Day with a street ball. On July 9, there will be a gastronomic feast and concerts in front of the institute's Danube-side building, according to a statement by the Institute. Although the Institute was founded in 1947, it moved to its current building […]
Heading a delegation, the Commander of the Hungarian Defense Forces, Lieutenant General Dr. Romulusz Ruszin-Szendi visited Ukraine this Friday at the invitation of the Ukrainian Chief of General Staff, Colonel General Valerii Zaluzhnyi, the Hungarian defense issues website honvedelem.hu reported this Friday morning. During the visit, the main topics of discussion between the army commanders […]
The number of nights spent by domestic guests at commercial accommodation establishments (hotels, boarding houses, camping sites, bungalow complexes and community hostels) increased – mainly due to the low base caused by the pandemic restrictions – more than one-and-a-half-fold in May 2022 compared to the same month of 2021, however, it was 22% below the […]
An important supplier of the battery industry, South Korean-owned Nice LMS Hungary Ltd. sets up a new production plant of some 6,000 sqm for EUR 14.4 million in Vác, north of Budapest. The project will result in creating up to 60 jobs, and thus contribute to the already vibrant local battery cell producing ecosystem to […]
The real estate group Duna House says its international strategy has brought diversification benefits to the Group. Some of its markets are affected to varying degrees by interest rate increases and market expectations of such increases, thus dampening their combined impact. Activity is down in all of the Group's markets, with a sharp decline in […]
Large companies pay more attention to sustainability than smaller ones, but there are also differences in environmental awareness based on activity, GKI Economic Research Co. told the state news agency MTI on Thursday. According to the research institute's survey, the vast majority of companies strive to reduce their environmental impact, 56% of them do so […]
In May this year, the volume of industrial production in Hungary grew by 9.4% year-on-year, according to data published by the country’s Central Statistical Office. Based on working-day adjusted data, production rose by 3.4%. As for the significant difference, the Office points out that it is due to the fact that there were two more […]
A weaker Forint means that foreigners can shop cheaper in Hungarian shops. The Hungarian currency (HUF) is sinking to new lows, with the euro crossing the 410 forint level on Wednesday and the dollar above HUF 400. The weakening forint could make shopping in Hungary cheaper for consumers from neighbouring eurozone countries, such as Slovakia. […]
Leading full-service global clinical research organization PSI CRO will set up its new office on the 5th floor of Park Atrium Office Building from January 2023, a statement by Horizon Development says. The privately owned company that supports clinical trials of various pharmaceutical companies across multiple therapeutic areas and continents signed a long-term lease contract […]
The number of people hospitalized with the coronavirus has doubled in the past week. The number of infections also increased last week, with 1,600 more (4,663) infections than the previous week and more than double the number two weeks ago. In the past week, 14 patients have died. This compares to 21 in the previous […]
The common European currency, the Euro crossed the HUF 409 mark on Tuesday afternoon, setting a new record. At the same time, the Euro also reached a new low against the US currency, which was at HUF 398 forints to the dollar at one point, the popular news site telex.hu reports. On June 13, the […]
The fully Hungarian-owned Jász-Plasztik Ltd. in Jászberény, E Hungary has carried out a HUF 10 billion capacity expansion development. Over a third of the invested amount is covered by Hungarian taxpayers through the government’s Large Enterprise Investment Support Program. Jász-Plasztik Ltd. employs around 6,000 people at home and abroad, with production in six factories in […]
In September, Budapest Airport will launch its largest residential noise insulation program, featuring many services and a budget of around HUF 1.2 billion over three years. The aim of the program, which has been running for more than ten years and will be expanded from fall 2022, is to reduce the noise burden for people […]
The share of solar power plants in total energy generation in Hungary was 11.1% last year, the highest in the 27 countries of the European Union, the Hungarian Energy and Public Utility Regulatory Authority (HEA) said in its electricity market report for 2021. The aggregate electricity consumption of the 27 member states increased by 4.3% […]
