In the third quarter of 2019 the number of payment cards and within this, that of cards facilitating contactless payments continued to grow, according to a report by the National Bank of Hungary. The expansion in the volume of electronic payments primarily continues to be a result of the dynamic growth of the number and […]
Transitioning to a circular economy is one of the leading business opportunities of our era. Although the core concept is not yet thoroughly understood or followed by most economic actors, the use of this model can increase the resilience of the world economy and facilitate the achievement of the Paris Climate Change Agreement and the […]
October was the fastest growing month of 2019 in terms of guest arrivals and guest nights in Budapest, an analysis by the Budapest Festival and Tourism Center (BFTK) notes. Sales of commercial accommodation in Budapest were close to HUF 25 billion. For the first time in a long time, not only lodging revenues have increased […]
The Hungarian oil and gas company MOL Plc. has notified the market on the website of the Budapest Stock Exchange that the Supervisory Board of its Croatian subsidiary, INA granted its prior agreement this Friday for the Rijeka Refinery Residue Upgrade project and the INA Management Board unanimously approved the investment. The decision was supported […]
The joy of giving - FREYWILLE Charity Campaign for IGAZGYÖNGY foundation. Glamorous paintings of the Children of the IGAZGYÖNGY Foundation were reborn on scarves by the Vienna-based jewelry maker FREYWILLE. The scarves will now directly support art education and creative self-expression of children in need. “Children are taught to express their thoughts as much as […]
The Women's Tennis Association (WTA) has announced the Player Award Winners for 2019 and the recipients include Hungary's top female player, Tímea Babos who shares the Doubles Team of the Year title with France's Kristina Mladenovic. Their achievements this year included claiming back-to-back titles at the TEB BNP Paribas Istanbul Cup, followed by their second […]
French company Suez is expanding its water purification membrane factory in Oroszlány, west of Budapest with an investment of HUF 9.6 billion, creating 85 new jobs. As the Hungarian Minister of Foreign Affairs and Trade, Péter Szijjártó stressed at the announcement of the investment in Budapest, the products of the Oroszlány plant are already used […]
Consumer prices were 3.4% higher on average in November 2019 than a year earlier. Significant price rises were measured over the past year for alcoholic beverages and tobacco as well as food, the country's Central Statistical Office reports. Food prices went up by 5.5% (including a 14.8% rise for pork prices), the price of other […]
Széchenyi Prize-winning historian Mária Ormos passed away on December 8, in the 90th year of her life, the Hungarian Academy of Sciences has announced. A regular member of the Hungarian Academy of Sciences, a professor emerita of the Department of Modern History at the Faculty of Humanities of the University of Pécs, she was a […]
APG Network is the world’s leading platform for airline services. With over 100 offices covering more than 170 countries, APG is the world's largest general sales agent (GSA) network, partnering with over 200 airlines to help them optimize revenue flows. APG Network is the global ‘go to’ service provider for air carriers and it offers […]
Magyar Telekom, the leading Hungarian telecommunications service provider has announced that the its Board of Directors resolved to streamline its management structure by re-allocating the tasks and responsibilities of the Management Committee to the Chief Officers and to the Board of Directors of the Company with effect from January 1, 2020. Additionally, the Board of […]
The Hungarian air ticket portal repjegy.hu conducted a survey among the Hungarian public this fall, as to what destinations Hungarians would prefer to travel to. This is the fourth time this survey has asked tens of thousands of internet users: “If you could travel anywhere in the world, what place would you choose? Based on […]
The importance of 4G networks continued to grow in the second quarter of 2019 with over 95% of mobile Internet traffic and 17% of domestic call traffic already on 4G , showing an increase of 1.4 percentage points and 5 percentage points, respectively, compared to the end of 2018, says the latest mobile market report […]
In October 2019, the volume of industrial output grew by 6.1% year-on-year. Based on working-day adjusted data production rose by 6.4%, according to figures published this Friday by the Hungarian Statistical Office. The report says the majority of manufacturing subsections contributed to the increase. The rate of growth significantly slackened in the largest weight representing […]
On the occasion of the 30th anniversary of the establishment of diplomatic relations between the Republic of Korea and Hungary, Hungarian central bank (MNB) President György Matolcsy has received a delegation headed by his South Korean counterpart. A joint discussion was conducted about cooperation between the two institutions. No visit has been paid by representatives […]
