GalCap Europe, the real estate asset and investment manager specializing in Austria and Central Europe, has acquired another asset in Budapest for a German pension fund’s portfolio: the Rumbach Center. Rumbach Center now expands the existing CEE portfolio within the investor's specialized fund structure, which is under the administration of 2IP Institutional Investment Partners. It […]
The leaders of the Újpest Torna Egylet (UTE), along with past and present athletes, solemnly remembered this Tuesday the founding of the purple-white club 135 years ago, on June 16, 1885. As exercise basically meant gymnastics in Hungary at that time, it was natural that the first gathering of athletes from Újpest (now District 4 […]
The German Thyssenkrupp is postponing the construction of its production plant in Pécs, southern Hungary by one and a half to two years, Forbes magazine has learned. According to the original plans, production would have started in mid-2020 in the plant where engine parts will be produced for hybrid and fully electric vehicles. This later […]
As a result of the restrictions caused by the COVID-19 epidemic, Hungarian society made progress in the field of digitization in a quarter of a year – progress that otherwise would have taken a year and a half, according to Deloitte Digital’s 1,000-person representative customer survey. Changes in the utilities sector have also significantly transformed […]
Aldi's logistics center in Hungary will be expanded with an 8,800-square-meter cold store, doubling its cold storage capacity in the country, according to an interview with Bernhard Haider, the Hungarian managing director of the discount chain. The company can thus provide a much larger range of refrigerated products to customers, while at the same time […]
Vodafone Hungary has launched a new company information service for small and medium-sized enterprises. Partner Control and Partner Monitoring services support business decisions, risk analysis, and tracking of key financial data for new and existing customers with a comprehensive, international company database, data, and reliable facts. Vodafone Hungary's new business information service, which supports business […]
Qatar Airways has announced that it is resuming services to Budapest from June 15, 2020. Hungary’s capital resumes scheduled services with three weekly flights operated by a Boeing 787 Dreamliner. As one of the only global airlines to have maintained a significant schedule throughout this crisis, Qatar Airways is uniquely positioned to monitor trends in […]
More than a third of the Hungarian population has been using less cash since the outbreak of the COVID-19 pandemic, according to a recent representative poll conducted by Pulzus Kutató for Napi.hu. One in six people switched to another payment solution because of the coronavirus, but most have replaced traditional payments because of new services, […]
A woman has died in a sudden flood caused by a thunderstorm in Tótvázsony, north of Lake Balaton in Western Hungary on Sunday afternoon. A spokeswoman for the Veszprém County Police Headquarters told the Hungarian news agency MTI that the 66-year-old woman and her husband wanted to clean the bridge pillar at the end of […]
With the easing of the coronavirus epidemic, the front part of the buses and trolleybuses in the Hungarian capital will no longer be cordoned off from Monday, June 15, 2020, thus allowing passengers to keep a greater distance from each other by making full use of the passenger compartments of vehicles. A statement by the […]
In April, 2020 the volume of industrial production declined by 36.8% year-on-year. Based on working-day adjusted data, production fell by 36.6%. The economic effects caused by the coronavirus epidemic were significant in this period. According to data by Hungary's Central Statistical Office, the manufacture of transport equipment fell outstandingly, to one-fifth, due to the temporary […]
János Áder, the President of Hungary honored Sameer Hamdan and Zuhair Awad with the Knight’s Cross, Order of Merit of the Republic of Hungary Medal for Civilians. The award was decreed in February in the official journal of Hungary, 'Magyar Közlöny' (Hungarian Gazette), however, due to the global circumstances the recipients received their award in […]
More than 2,250 solar panels of 270 watts each have been installed on the 6,500-square-meter roof of the logistics center in Cegléd of Gépész Holding that sells building engineering products. The new system produces the annual electricity demand of 160-170 detached houses – a smaller village if you like. In 2017, the building services company […]
The number of confirmed people infected with the coronavirus in Hungary now stands at 4,064. There are 8,472 people in compulsory home quarantine, 2,476 recovered and 559 deceased. The total number of active COVID-19 cases is 1,029. The official government site finds it important to note that 40% of those infected, 60% of the deceased, […]
The coronavirus pandemic led to a sharp fall in housing market activity at the end of March 2020; and construction activity is also expected to slow. Looking ahead, the market of new homes may be supported by the preferential, 5% VAT rate applicable in brownfield zones, says a report by the National Bank of Hungary […]
