By investing EUR 180 million, MOL Petrolkémia builds a new plant in Tiszaújváros where its foundation stone laying ceremony took place this Wednesday. 7-8% of the investment costs are covered by Hungarian taxpayers through a government decision. The production unit, which has an annual manufacturing capacity of 100,000 tons of propylene per year, covers a […]
Although he refused to do so last year, Viktor Orbán has now sent a letter to European Commission President Ursula von der Leyen asking for more money for Hungary from the EU's EU's Recovery and Resilience Facility (RRF). In addition to the non-repayable aid, the government would also draw on the loan facility - the […]
The Merzse marsh, the only wetland habitat in Budapest, located in Rákosmente, in the southeast of of the Hungarian capital, has been threatened by a shortage of water for years, in spite of rehabilitation efforts by the Municipality of Rákosmente. Budapest Airport, the operator of Ferenc Liszt International Airport, says it has joined the leadership […]
The Monetary Council of the National Bank of Hungary (MNB) raised the base rate by 100 basis points to 4.4% this Tuesday, and pushed up the interest rate corridor by a similar amount. MNB says in a statement that its primary objective is to achieve and maintain price stability. Without prejudice to its primary objective, […]
52% Hungarians believe policies to tackle climate change will remove more jobs than they create; 52% think climate policies will worsen their quality of life and 51% of them believe climate policies will slow down economic growth. These are some of the results from the latest release of the 2021-2022 Climate Survey conducted in September […]
"Construction material prices have already increased by 15-25%, much more intensively than originally expected, due to the impact of the war, and construction is becoming even more expensive as manufacturers continue to announce increasingly drastic price hikes," the business daily Világgazdaság writes. Raimund Wiesinger, president of the Hungarian Building Materials Trade Association (ÉKE), told the […]
Over the past three days, 134 patients have died, bringing the official number of new coronavirus related deaths in this country to 45,095. The government website koronavirus.gov.hu also reports that 5,839 new cases have been confirmed in this period. This is 1,946 more per day than the last figure the previous weekend. Since the beginning […]
The Hungarian government has ordered the evacuation of the refugee reception stations at Budapest's Keleti and Nyugati railway stations, where NGOs have been helping refugees from Ukraine since the beginning of the Russian invasion. These stations will now be used only as information points, and refugees fleeing the war will be transferred by bus from […]
Makó-based Váll-Ker Ltd., a manufacturer of fireplaces, is increasing its production capacity by 75% with a HUF 3 billion investment, with the support of the European Union, the company informed the state news agency MTI. EU support will cover HUF 1.515 billion of the development under the ‘Hungarian multi’ program. The main activity of the […]
The Budapest Stock Exchange's (BSE) share index, the BUX, closed the three-day trading week at 43,935.56 points, up 2.40% or 1,030.01 points compared to last Friday, the state news agency MTI reported this Sunday morning. The turnover was HUF 110.943 billion, compared to HUF 190.623 billion the previous week. Leading stocks rose, with the exception […]
The Hungarian air traffic service HungaroControl is committed to helping those in need, so at the beginning of March it organised a collection among its employees to help those fleeing the war. The company doubled the donation of around HUF 4 million, giving a total of HUF 8 million to help refugees in Ukraine through […]
The awards for the world’s largest competition for food and drink culture publications, the Gourmand International Awards were presented in Paris at the recent World Cookbook Fair with a resounding Hungarian success. Gergely Ripka’s bilingual Tokaj Guide that earlier made it to the Top 4 in the European Wine Book category in February 2021 and […]
"OTP Group is supporting Ukraine using all means available to us. We are working under wartime conditions to keep the country's financial infrastructure, and thereby the economy as a whole, operational," the Group said in a statement this Friday. In addition to maintaining the operations of the Group's subsidiary in Ukraine, "we are contributing to […]
Delivery platform Wolt has made a substantial donation of EUR 1,500,000 to support aid organisations working in the war in Ukraine. Wolt Hungary has also made it possible for users to directly support UNICEF's work to help children trapped in Ukraine or displaced by the war. Wolt is deeply saddened by the war situation in […]
Following weeks of protests in the form of civil disobedience, teachers in Hungary called a nationwide strike demanding higher wages and a fairer workload. While acknowledging some of their demands, the government called on teachers to postpone their strike in view of the war in neighboring Ukraine. Following weeks of protests in the form of […]
