From this coming Monday, certain employees of the lighting production company Tungsram will be sent on leave due to partial plant shutdowns, because the company is facing an insoluble situation due to economic circumstances, the southwestern Hungarian newspaper Zalai Hírlap wrote on Saturday, referring to the company's CEO Joerg Bauer. Joerg Bauer said that after […]
The perception of the European Union is basically positive both in the EU and in Hungary. Almost half of people in Hungary have a positive opinion of the EU, and just over one in seven have a negative opinion, according to the latest findings by Eurobarometer that regularly conducts public opinion surveys on behalf of […]
The exhibition at the Museum of Fine Arts, Budapest, that is open till July 17, this year, showcases the art of the Netherlandish master, Hieronymus Bosch (ca. 1450 – 1516), who produced one of the most influential and emblematic artistic achievements in European painting. The museum says the Budapest show, with close to ninety works […]
Consumer prices were 8.5% higher on average in March 2022 than a year earlier. The last time the inflation was as high was in June 2007. The highest price rise over the last 12 months was measured for food. In one month, consumer prices increased by 1.0% on average, the Central Statistical Office reports. In […]
A photo exhibition entitled Budapest Vision opened this Friday in Budapest's City Hall Park as part of the 42nd Budapest Spring Festival, which starts on April 29. The pictures of the contemporary street photo exhibition were selected by a professional jury from a competition of more than 200 images, Szilvia Mucsy, director of the Budapest […]
The European Union’s decision to launch a new rule of law mechanism against the Hungarian government threatens to strip Hungary of billions of forints in much-needed funding. The move comes at a time when the government needs to rein in a swelling budget deficit and faces a slowdown in the economy. Hot on the heels […]
In parallel with the relaxation of restrictions introduced at European level in the wake of the coronavirus pandemic, the number of routes is increasing as Easter and the high season approach, offering more travel options from Hungary. The summer timetable is also expanding, with holiday flights connecting Budapest to the Adriatic. Meanwhile, FlixBus continues its […]
Automotive supplier Modine Hungária Gépjárműtechnikai (‘Automotive’) Ltd. responds to pandemic-induced challenges by expanding operations with an investment of nearly EUR 5.2 million in Gyöngyös and Mezőkövesd, both in eastern Hungary by using state subsidy (amounting to close to a quarter of the invested amount) to improve competitiveness. Modine Hungária Gépjárműtechnikai Ltd., which produces fridges and […]
AutoWallis Plc. is purchasing Renault Hungária Ltd. together with a major player on the European automotive market, the Portuguese Salvador Caetano Group, thus attaining exclusivity for sales of vehicles of Renault, Dacia and Alpine brands in Hungary. A statement on the website of the Budapest Stock Exchange says the transaction is submitted to the approval […]
122 destinations and 112 cities are directly accessible from Budapest’s Ferenc Liszt International Airport in the 2022 summer season, with flights operated by 35 airlines. According to a press release by Budapest Airport about the summer schedule, Izmir, Turkey, has become a new destination accessible directly from the Hungarian capital. Turkey’s third largest city is […]
The construction, operation, financing, development and acquisition of commercial property in 2022 and beyond will continue to be impacted by the price of fuel, energy and construction materials. This will be combined with challenges in the supply chain, the nearshoring of operations and rapidly rising inflation, culminating in a direct effect on sale prices and […]
Electronic product manufacturer RAFI Hungaria Ltd. is to carry out storage expansion related investments in value of EUR 6.5 million in Mezőtúr, eastern Hungary. Over a quarter of the investment amount is covered by Hungarian taxpayers through a government decision. The project should be completed by the end of the year. Founded in Germany over […]
According to the sale and purchase agreement, the sale price for all shares representing the stake is HUF 90 million. The name of the buyer was not disclosed. TT-Geotermia, 100% owned by PannErgy Plc., owns some, mostly rather obsolete, equipment and facilities that provide conventional utility distribution to PannErgy’s properties held for utilization and sale […]
In February 2022, the volume of retail trade in both raw and calendar-adjusted data in Hungary was 9.8% higher than in the same month of the previous year, the country's Central Statistical Office reports. In February, calendar-adjusted sales volumes rose by 3.4% in specialised and non-specialised food shops, by 14.6% in non-food retailing and by […]
The Ambassador of Spain in Budapest, Anunciada Fernández de Córdova has presented the Cross of Officer of the Order of Isabella the Catholic that King Felipe VI of Spain has granted to Péter Tóth, Director of the Spanish-Hungarian company ‘Olmos and Tóth’. At the proposal of Anunciada Fernández de Córdova, Ambassador of Spain in Hungary, […]
