Pharmacenter Hungary has developed two oncology drugs in a HUF 535 million project, supported by a HUF 298m grant from the National Research, Development and Innovation Fund, the company said in a statement. The project started in October 2021 and was completed in September 2025. One of the resulting products is used in the therapy […]
South Korean Shinheung's capacity expansion in Monor has created 700 jobs, further strengthening Hungary's role in the electric car industry revolution. That is according to Péter Szijjártó, Minister of Foreign Affairs and Trade, who spoke at the handover of the project in Monor, southeast of Budapest. The South Korean battery component manufacturer's HUF 45 billion […]
The electricity distributor company OPUS TITASZ inaugurated an HUF 18.2bn substation in Nyíregyháza (NE Hungary) this Friday. The investment, supported by European Union funding, is said to boost the electricity distributor's capacity by 45%, allowing it to meet fully demand at the local industrial park. At the inauguration ceremony, Energy Minister Csaba Lantos highlighted the […]
Mercedes-Benz is improving its manufacturing efficiency to prepare its plants for the most comprehensive product offensive in the company's history, the company told MTI on Friday. The German carmaker is investing more than EUR 2 billion in modernizing its European factories, with automation and digitalization expected to reduce costs by 10%. According to the announcement, […]
Citibank will continue to expand its activities in Hungary, the Ministry of Foreign Affairs and Trade said in a social media post on Friday. According to the Ministry, an agreement on this was reached at a meeting with the group's CEO that Citibank would continue to expand its activities in Hungary, creating jobs, with the […]
AutoWallis has moved to new offices. The region's leading car dealership and mobility company has found a new home in the Liberty office building, located at one of the capital's busiest transport hubs. According to the announcement, the move is a significant step towards more efficient operations, which is an important part of the company's […]
Matild Palace, a Luxury Collection Hotel Budapest, has announced the appointment of Suzanna Zourabyan as the property’s Director of Sales, effective September 2025. In this role, she will oversee and coordinate the work of the sales team to ensure the achievement of the hotel’s sales objectives, while also providing effective training and development. As Sales […]
Hungarians are increasingly embracing digital payment methods, with 93% of the population now owning a bank card, according to new research by Gránit Bank. The study highlights the growing shift from cash to digital transactions, a trend mirrored across Europe. While traditional card payments remain the dominant method, one in ten Hungarian bank customers already […]
A true global sensation will arrive on the stage of the Palace of Arts (Müpa) in Budapest at the end of October: Jung Jaeil, the South Korean composer who composed the unforgettable music for Squid Game and Parasite, will perform in Hungary. Of the two productions mentioned, Parasite won an Academy Award and a Palme […]
Genetic matches have shown that some Hungarians living in the 10th century had Uralian origins, research led by the Budapest-based Eötvös Lóránd University Research Center for the Humanities (ELTE RCH) shows. In the 'milestone study' published in The Cell journal, ELTE RCH's Institute for Archaeogenomics analysed 120 genomes from western Siberia to the River Volga […]
Business confidence measured by the Confederation of Hungarian Business (VOSZ) in Hungary stood at 50% in the third quarter, unchanged from the previous quarter and 2 percentage points down from the same period a year earlier, VOSZ said on Thursday. As MTI reports, the index is based on responses of the some 400 VOSZ member […]
HelloParks recognized the market trend early and began developing industrial and logistics business parks in 2020 at three strategic locations around Budapest — in Fót (Budapest North), Maglód (Budapest Airport), and Páty (Budapest West). Following the preparatory work, the company delivered its first two warehouses in 2022 with a total area of 92,000 sqm, which […]
AutoWallis Group’s vehicle sales rose significantly, by 8.4% in the first nine months of the year. The growth was primarily driven by the Retail Business Unit, which expanded by more than 21%, while the Distribution Business Unit also outperformed last year’s figure by 2.5% after catching up with earlier quarters. The strong sales performance of […]
Rail Cargo Hungaria, a member of Rail Cargo Group, Acemil Holding and China's Taitong International Transport, have signed an agreement strengthening their cooperation, Rail Cargo Hungaria said on Wednesday. The statement says the partners discussed a new freight service between Baoding, a city of 12 million people in China's Hebei province, and Budapest, via Turkey. […]
English singer and songwriter Calum Scott is to perform this October in Budapest, returning to the Hungarian capital with a solo concert after stealing the hearts of the Hungarian audience by opening Ed Sheeran's concert last year. He tells Diplomacy&Trade how he tries to help sensitive people with his songs while remaining an everyday person […]
