Leaving behind the legacy of the 2007-2008 crisis, the Hungarian banking system is prepared to face the challenges likely to result from the COVID-19 pandemic with healthy balance sheets and adequate capital and liquidity reserves. That is according to the latest financial report by the National Bank of Hungary (MNB). The report states that "based […]
The EuCham - European Camber has again prepared a list of European countries where the conditions for conducting business are the best. The research is based on World Bank and Transparency International indexes. Hungary is ranked 31st of the 46 countries. EuCham, whose Central and Eastern European office is located in Budapest, ranks and analyzes […]
The Hungarian Open Air Museum ('Skanzen') reopened in Szentendre, north of Budapest this Saturday. For the time being, the museum is only accessible with a walking ticket in accordance with epidemiological and distance keeping rules. During the usual opening hours, from 9 am to 5 pm on Tuesday to Sunday, visitors to the ethnographic museum […]
During the epidemic and under the conditions of temporary production shutdown, Denso Manufacturing Hungary Ltd. managed to save all jobs in the plant of Székesfehérvár's largest employer. They were not satisfied with the government's wage support plan first but now, they use the modified version. The crisis forced the Hungarian plant of the Japanese company […]
It was on May 23, 1990 that Hungarian parliament, the first democratically elected one for over four decades, elected historian József Antall as the Prime Minister of the country to head a center-right coalition government that enjoyed a 60% majority in the national assembly. As part of the transition from one-party communist style rule to […]
During today's Operational Group press conference, Chief Medical Officer Cecília Müller said the epidemic curve is still pointing downwards. There are currently 483 patients hospitalized with the coronavirus. According to official figures, the number of confirmed people infected with the coronavirus in Hungary now stands at 3,678. There are 11,688 people in compulsory home quarantine, […]
The Hungarian Banking Association has elected as its new President Radován Jelasity, Chairman and CEO of Erste Bank Hungary. The previous President, András Becsei will stay in the leadership of the association as Vice President. Radován Jelasity has been Chairman and CEO of Erste Bank Hungary since June 1, 2011. He is a recognized banker, […]
The cylinder heads manufacturer Nemak Győr Alumíniumöntöde (aluminum foundry) Ltd., which employs about a thousand people, will have 180 of its employees laid off by the end of July, the Hungarian news agency MTI reports. In his statement to the news agency, the company's financial director, Gábor Mersich writes that the redundancy at the Mexican-owned […]
The debt of Hungarian hospitals increased by HUF 5 billion in April, according to recent data from the Hungarian State Treasury. This time, the increase may be due to the loss of income due to the discontinued care, as well as the additional costs of preparing for the care of Covid-19 patients. As of April […]
The Minister heading the Prime Minister’s Office, Gergely Gulyás, was of the view today that the measures taken to fight the coronavirus in Hungary have been successful, but the situation is still very fragile, so it is important to follow the rules. “A proposal will be submitted next Tuesday, which begins the process of abolishing […]
Hungarian liquor producer Zwack Unicum Plc. has published the results of the company for the 2019-2020 business year: slight increase in gross sales and significant decrease in net sales. According to audited data, total gross sales of the company were HUF 26,358 million – practically the same as in the previous business year (+HUF 17 […]
As part of its emergency support package to tackle the economic impact of the COVID-19 crisis, the EU has put in place a temporary instrument to help workers keep their jobs during the crisis. On May 19, the European Council adopted SURE (European instrument for temporary Support to mitigate Unemployment Risks in an Emergency), a […]
The out-of-class digital work schedule will remain in force in Hungarian schools until the end of the school year, that is, June 15, but kindergartens and nurseries will return to normal operation from the second half of May, according to the State Secretary for Education, Zoltán Maruzsa. The State Secretary said that from June 2, […]
While businesses in the Hungarian tourism industry very much hope that spending by domestic tourists after the coronavirus epidemic will help them survive the 2020 season, a recent poll shows that two-thirds of the people have no intention to travel from home in the summer. For companies in tourism and hospitality, the real salvation is […]
In the framework of the Social(i)Makers project, an international partnership of seven countries can create a Central European social innovation network whose members implement socially useful ideas. In the framework of this project implemented as part of the Interreg Central Europe Program, local pilot programs have been carried out in all participating countries over the […]
