Property market turnover in August was weaker than the usual, producing the weakest summer season of the past four years. Because of a strong year start, the complete data of the first eight months shows no major decrease when compared to previous years, according to the latest Duna House Barometer report.On the Buda side of […]
The number of smartphone users in Hungary is 5.3 million, which equals 89% of all internet users in the country. The number of people using a mobile internet connection has increased by 1.7 million to almost 4.5 million between 2017 and May 2019. The major role that smartphones play in our lives is proven by […]
Following a strategic overview started earlier this year, Swedish home appliances manufacturer Electrolux has decided to initiate a plan to improve efficiency throughout the Group. This Tuesday, the company also announced a plan to outsource parts of its current manufacturing in Hungary and invest in its Nyíregyháza refrigerator plant. The efficiency measures and redundancies related […]
ITU Telecom World 2019, the global tech event for governments, corporates and small- and medium-sized enterprises, opened its doors this Monday in the Hungarian capital to four days of exhibition, debate, networking and awards amongst some of the most influential names from across the information and communication technology (ICT) sector. Hosted by the Hungarian government, […]
METRO PROPERTIES, the real estate company of METRO AG, sold the real estate of 11 Cash & Carry stores in Poland, Hungary and Czech Republic in a sale-and-leaseback transaction. The portfolio has been acquired by FLE GmbH, Vienna, a subsidiary of the French LFPI Group, investing on behalf of an AIF regulated fund. The transaction […]
The Hungarian Oscar Selection Committee has announced that it will enter Barnabás Tóth’s 'Akik maradtak' (Those who remained), "a lyrical story of the healing power of love in the midst of conflict, loss and trauma”, to be considered for nomination in the next “Academy Awards - Best International Film” category. Having survived the camps, 42-year […]
This Friday, the National Bank of Hungary issues a silver collector coin with a face value of HUF 10,000 and a non-ferrous metal coin with a face value of HUF 2,000 in order to commemorate the 250th anniversary of the start of organized medical training in Hungary. This Friday, the National Bank of Hungary (MNB) […]
Members of the Hungarian Defense Forces who took part in patrolling the airspace of Estonia, Latvia and Lithuania for four months have returned home. The Hungarian soldiers served in the Baltic Air Policing (BAP) NATO mission, protecting the airspace of the three Baltic states from May. Hungarians fulfilled the mission for the second time since […]
As a second step of Bridgestone's EUR 29.5 million investment project, the Japanese company has raised the warehouse capacity of its factory in Tatabánya by 50%, which now exceeds 600,000 tires. In addition to building a new warehouse, the company has also increased its manufacturing capacity and modernized its artificial intelligence-based tire production machines. As […]
Retail chain ALDI will expand the competence and headcount of its Information Technology service center in Pécs, southern Hungary, the Hungarian Investment Promotion Agency (HIPA) says. The headcount of the center is set to nearly double. The center supports the IT system operations of 3,800 European ALDI stores and 55 logistics centers. ALDI opened its […]
The first production line manufacturing potentially reduced-risk, innovative products has started operation at the British American Tobacco factory in Pécs, southern Hungary. In the framework of an EUR 23.8 million investment, tobacco-free nicotine pouches are soon to be produced on five additional production lines. As a result of the development creating 60 new workplaces, the […]
Budapest Airport hosted its annual Runway Run charity race for the seventh time this weekend. Running aficionados completed the race on a closed runway at Liszt Ferenc International Airport. Despite the summer heat, over 1,100 runners took part, including Minister of Foreign Affairs and Trade Péter Szijjártó and British Ambassador Iain Lindsay as well as […]
German businesses settling in Hungary have been important players in Hungary in the three decades since the fall of communism and contributed to the creation of market economy in Hungary, Finance Minister Mihály Varga said at the jubilee celebration of Continental Automotive Hungary Ltd. established in 1989. The Finance Minister highlighted that the performance of […]
Investments in the Hungarian economy surged by 18.8% in the second quarter of 2019 from a year earlier, driven by the private sector, according to data from the Central Statistical Office. The figure represents a 4.1% increase versus the first quarter. Dynamic growth rates were recorded in 15 out of 19 sectors. A 31% increase […]
The U.S. State Department cleared more than USD 4.2 billion worth of potential weapons sales for Japan, South Korea, Hungary, Lithuania and Denmark, defencenews.com reports. Hungary is seeking to spend an estimated USD 500 million on 180 AIM-120C-7 advanced medium-range air-to-air missiles. The prime contractor will be Raytheon. The weapons will be used to support […]
