3.5 million Suzuki models were manufactured in about 30 years at the Esztergom (NW of Budapest) plant of the Hungarian subsidiary of the Japanese company – and sold to people in 123 countries. The international automotive company has come a long way in Hungary from its 1991’s beginnings to the jubilee reached recently, having been […]
Two surveys, published in PwC’s 11th Global Consumer Insights Survey, examine the shopping habits and behavior of urban consumers before and after the COVID-19 pandemic, and how the global breakthrough has led to the faster spread of digital life. “At present, it is not clear at either global or local level how long the uncertainty […]
Budapest Airport welcomes a new airline: Luxair starts its direct service between Budapest and Luxembourg at the beginning of August. The schedule of the seasonal flight is adjusted to the needs of recreational travelers and is ideal for short city breaks as well as longer trips. A new airline is to commence services from Liszt […]
Vodafone Hungary has recently completed network development in three Central Hungarian regions under the Superfast Internet Program, making high-speed broadband Internet access available at more than 18 000 end-points. Thanks to the development, the company can offer Internet access with speeds of hundreds of megabits to consumer and business customers, schools and public administration institutions […]
The OECD has set itself the goal of taking further steps to bring about a fair and equitable transformation of the global tax system within the framework of its new program, often referred to as BEPS 2.0, by developing two new tax concepts, referred to as pillars. "The first pillar of the program would allow […]
The production of the CLA 250 e Coupé and CLA 250 e Shooting Brake hybrid models begins at the Mercedes plant in Kecskemét, southeast of Budapest. Christian Wolff, Managing Director of Mercedes-Benz Manufacturing Hungary Ltd. emphasized that "the Kecskemét plant will gradually switch to the use of green energy", so, from 2022, the factory will […]
The National Bank of Hungary (MNB) has warned that HUF 2,000 and 5,000 banknotes issued before 2016 may not be replaced with the new banknotes free of charge at every bank and postal office after July 31, 2020. A statement by MNB says that after July 31, 2020, post offices and credit institutions may continue […]
The number of car ownership changes confirms what the market-leading hasznaltauto.hu ('used cars') searches have shown since mid-May: buyers have returned to the used car market. In June, the market strengthened: 11.5% more used car ownership changes were registered than in June last year, and 66% more than in April. The three most sought-after models […]
The European Commission (EC) has approved the application for the inclusion of 'Csopak' / 'Csopaki' wines in Hungary in the Register of Protected Designations of Origin (PDOs), the EC said in a statement. It has also been geographically determined from which areas wines are protected, according to which the production area of 'Csopak' / 'Csopaki' […]
The M25 motorway connecting Eger with the M3 motorway was handed over to motorists this Monday. The 19-kilometer section, built in two phases, cost about HUF 50 billion. Driver can use the M25 road free of charge until January 1, 2021 after which it becomes part of the national toll road network. The road and […]
Hungarian-owned 77 Elektronika Ltd. a company exporting self-developed medical diagnostic devices to more than 100 countries, increased its foreign market turnover by HUF 24.5 billion last year, the company told the Hungarian news agency MTI. According to public company data, the firm's net sales revenue was HUF 31.2 billion in 2019 after HUF 30.7 billion […]
The National Bank of Hungary (MNB) extended its Green Preferential Capital Requirement Program that does not only recognize discounts for interest rates but also for fees in the future, which provides incentives to introduce additional mortgage loans for energy efficiency purposes. The program is extended by one year, until the end of 2024. An MNB […]
Economists and policy makers are still struggling to assess the scope of the global economic fallout that the coronavirus epidemic is leaving in its wake. Some analysts argue that central and eastern Europe, and consequently Hungary, could emerge from the economic malaise stronger than before. The jury is still out as to the shape and […]
Defending champion and six-time world champion Lewis Hamilton, a British driver of the Mercedes team, won the 35th Formula One Hungarian Grand Prix – held without spectators – this Sunday at the Hungaroring, where he triumphed for the 8th time in his career. This is the 35-year-old driver’s second win this year and his 86th […]
In the WittyLeaks series, Diplomac&Trade regularly publishes the personal accounts of ambassadors and other diplomatic mission leaders accredited to Budapest. This time, the Malaysian Ambassador shares his thoughts of living through periods of epidemic. The rapid and sudden global spread of the novel coronavirus, the cause of the COVID-19 disease, has been disruptive and played […]
