MOL Group has announced its financial results for 2020 that shows operating earnings without one-off special effects and adjusted by the current cost of supply decreasing but still a bit above USD two billion. Despite the much challenging pandemic and economic crisis, MOL Group generated USD 464 million Clean CCS EBITDA in the fourth quarter, […]
3,093 new infections (more than in any single day this year) were found and 110 people died in the past 24 hours in Hungary, according to official figures. The number of people recovered from the infection is currently 302,689, and that of active infections is 80,282. 4,024 patients with coronavirus are being hospitalized, 352 of […]
Defying all expectations, the Hungarian economy expanded in the fourth quarter of 2020. This gives a significant boost to the 2021 outlook. Expectations had not been particularly high for fourth-quarter economic activity in 2020. Nevertheless, Prime Minister Viktor Orbán suggested the economy probably contracted by 5.1% to 5.2% in 2020 as a whole, meaning borderline […]
In part, it was the outstanding performance of the pet food business that determined the global organic growth of the Nestlé group of companies in 2020. In addition, the 3.6% year-on-year growth was due to the U.S. markets and Nestlé’s health science business. The trading operating profit margin increased by 210 basis points year-on-year to […]
Untreated mine water spilled from the flooded shafts of a closed mine in Maramures, Romania caused metal contamination of the River Szamos flowing into NE Hungary. The Maramures County branch of the Szamos-Tisza Water Directorate said that streams and rivers in the area flooded due to the heavy rainfall on Wednesday. As a result, in […]
The new coronavirus infection (COVID-19) was detected in another 2,853 new Hungarian citizens in the apst 24 hours. There have not been so many new infections a day since January 7. This increased the number of infected people identified in Hungary to 394,023, koronavirus.gov.hu said Thursday morning. The number of deaths related to the new […]
Deloitte Hungary announced the Green Frog Award for the 20th time to recognize companies that excel in the field of non-financial reporting in Hungary. Following the autumn application period, a 13-member independent expert jury evaluated such reports received on the basis of a pre-defined system of criteria and points, and two companies, both of which […]
Vajda Papír has put into operation the modern production lines that will be used to make one million medical masks a day in Dunaföldvár, south of Budapest. The Hungarian government contributed HUF 1.1 billion (close to 80%) to the HUF 1.4 billion investment carried out within the framework of the Health Industry Support Program. The […]
Despite economic growth, the concentration of income of the Hungarian population has remained virtually unchanged over the past 10 years, according to the Central Statistical Office. In 2019 – as in 2010 –, the richest 10% had nearly a quarter (23%) of the total income of the population and the top 30% about half of […]
This year, the Furmint February event was organized for the third time, at which 39 Hungarian wines were presented in an online master course jointly organized by the Hungarian Agricultural Marketing Center (AMC) and the Wines of Hungary UK communication agency. The aim of the event, which served as a wine tasting, business development meeting […]
Although, economic performance in Hungary grew by 1.1% compared to previous quarter but it decreased by 3.7% compared to a year earlier. The gross domestic product of Hungary went down by 3.7% according to raw data and by 4.3% according to seasonally and calendar adjusted and reconciled data in the 4th quarter of 2020 compared to […]
The new coronavirus infection (COVID-19) was detected in another 823 Hungarian citizens in the past 24 hours, thus increasing the number of infected people identified in Hungary to 389,622. 85 patients died, bringing the official number of deaths to 13,837. The number of recovered people is constantly increasing, currently 298,773 people, the number of active […]
Roche expands its Budapest business solutions center portfolio with strategic HR services. The company opens 150 new positions in March, further growth of around 100 roles expected for later in the year. By bringing complex People & Culture (formerly known as Human Resources) positions to Hungary, Roche expands its services & solutions center in Budapest […]
The Music Hungary Association, the Hungarian Festival Association and the Hungarian Association of Event Organizers and Service Providers have compiled a package of expert proposals to help the Hungarian tourism and hospitality sectors. The proposal also calls for the introduction of a cultural VAT. So far, more than 370 people have signed up to the […]
Construction output volume in December 2020 in Hungary decreased by 0.3% in one year, and by 3.1% compared to the previous month. The volume of construction output in December 2020, based on raw data published by the Central statistical Office this Monday, was 0.3% lower compared to the previous year. Output of the two main […]
