The European Commission has approved €654 million to Spain and Hungary under REACT-EU following the modification of two European Social Fund (ESF) Operational Programs (OP). According to an announcement by the European Commission, in Hungary, the national OP 'Human Resource Development' will receive an additional EUR250 million for purchasing 13 million doses of COVID-19 vaccines […]
EY Global Delivery Services (EY GDS) is establishing a new global service center in Budapest, where services related to tax consultancy will be in focus. The Budapest center of EY GDS will primarily support EY companies operating in EMEIA countries. By the end of 2024, the company, which has been present in Hungary since 1993, […]
Record weak forint puts Hungarian central bank in tight spotThe Hungarian forint weakened to a record level against the euro this week and Hungarian government bond yields jumped amid a souring of international market sentiment and a surge in COVID-19 cases. The central bank raised the interest rate on its one-week deposit facility in an […]
By Friday morning, the death toll from the epidemic in Hungary had risen by 162 to 33,866. 6,913 patients with coronavirus are hospitalized. Of these, 695 need mechanical ventilation. By Friday, another 11,871 people had been diagnosed with the new coronavirus, bringing the total number of confirmed cases to 1,068,888 in Hungary, according to official […]
Industrial gas supplier Linde opens its new research and development center 'Linde Advanced Operations Services' (LAOS) in Budapest, the Hungarian Investment Promotion Agency reports. The digital center aims to provide services and solutions using Industrial IoT, cloud services and artificial intelligence, which make processing plants sustainable and profitable. The volume of the R&D project to […]
Implementing the strategies for achieving a circular economy would reduce global greenhouse gas emissions by 39%. How to achieve climate goals through the circular transition? – this burning issue was at the heart of the fourth Circular Economic Summit, which was held with the participation of almost 150 people this Thursday. The world as a […]
In October 2021, 8,289 children were born and 11,252 people died according to preliminary data published this Thursday by the Central Statistical Office. Compared to October 2020, the number of live births was up by 3.1% and that of deaths decreased by 10%. 5,293 couples got married, which was 19% less than in the same month of […]
Swiss Metoxit AG and Saphirwerk AG manufacturing special ceramic products launches an investment of more than CHF 7 million (EUR 6.6 million) in Székesfehérvár, southwest of Budapest. In the first phase of the project, 40 new jobs will be created, which can increase to 80 people two years later. Ceramic components will be produced in […]
The tourism sector has been one of the hardest hit areas by pandemic restrictions all over the world – and Hungary is no exception. Therefore, the main aim this year of the organizers of the annual informal event of this profession, T-DAY (to be held at the Marriott Budapest Hotel early December), is striking an […]
Ceva Phylaxia, one of the world's leading animal vaccine producing companies, will set up a new vaccine factory along with the associated infrastructure by developing a new site under a greenfield investment in Hungary. With the technology-intensive investment of more than EUR 26 million in Monor, the 44-hectare site will store frozen and semi-finished vaccines […]
This year, the Italian Gastronomy Week in Hungary will take place for the sixth time from November 22 to 28, 2021. Launched by the Italian Ministry of Foreign Affairs and International Cooperation as part of a comprehensive country promotion program called 'Italian Lifestyle' and implemented by the Italian diplomatic-consular network, cultural institutions and foreign trade […]
This September, the municipality of the southern Hungarian city of Pécs lifted the ban on tango dancing introduced in 1922. On this occasion, a ‘Tango Feast’ was held and I had the pleasure to visit the city. Among other activities, I had the opportunity to talk about my country and my people at the University […]
Groundbreaking ceremony has been held at the future Chervon Auto factory in Miskolc, NE Hungary. With Bilfinger Tebodin on board, the Chinese automotive components producer received the building permit and starts the construction of their new factory. The EUR 50 million euro investment is a greenfield facility of 27,000 square meters. Once operational, it will […]
Despite the National Bank of Hungary (MNB) raising the policy rate by a total of 70 basis points in two steps last week, the Hungarian forint (HUF) fell to a new historic low against the common European currency (EUR) on Monday morning. In one day, the euro exchange rate broke through the psychological barrier of […]
One of the international exhibitors at the World of Hunting and Nature Exhibition held in Budapest recently was the Saudi Falcons Club. Its CEO, Hussam Bin Abdulmohsen Al-Huzaimi talked to Diplomacy&Trade about the strong historical bond between humans and falcons, how falconry can be used as a tool of biodiversity, among other issues. The Saudi […]
