Singapore Airlines Limited (SIA) will offer all shareholders SGD 5.3 billion in new equity and up to a further SGD 9.7 billion1 through a 10-year Mandatory Convertible Bonds (MCB). Both will be offered on a pro-rata basis via a rights issue, and both issuances will be treated as equity in the Company’s balance sheet. SIA […]
Handling the Covid-19 coronavirus situation seems to be one of the biggest challenges of our post-’89 new world – but also a possibility to rethink and recalibrate European co-operation and maybe the entire European project. The end of a period and hopefully the beginning of another one. Ruling by decree in a war-style fashion sounds […]
Magyar Telekom, Telenor and Vodafone have paid HUF 128.49 billion altogether for the 15-year use of bandwidths suitable for 5G standard data transmission. The bandwidths were auctioned by the National Media and Infocommunications Authority (NMHH) late March. According to the Authority, the auction, held under stringent precautionary measures, saw "intensive competition," although, only the three […]
Humanity is facing the greatest challenge of the 21st century: this coronavirus differs from the hitherto known influenza that we learned to live with. It is an epidemic that already takes its toll on our daily lives and has significant impact on our work. The Hungarian Government has also slammed on the brakes and introduced […]
The restrictions on movement are introduced as of this Saturday through April 11 for the the whole territory of Hungary. During this period, people will only be allowed to leave their homes "for good reason." According to the decree, these "good reasons" include going to work, performing occupational duties, pursuing economic, agricultural and forestry activities, […]
A six-point financial package designed to offset the negative financial and economic impact of the coronavirus epidemic was drawn up at the Budapest Chamber of Commerce and Industry (BKIK) on the basis of direct feedback from small and medium-sized enterprises. The President of the Budapest Chamber of Commerce and Industry (BKIK), Elek Nagy, proposes to […]
Hungarian energy giant MOL has started production of hand and surface sanitizers to offer protection against the COVID-19 coronavirus. Both products are in short supply in Hungary. Lubricants producer and MOL Group member MOL Lub managed to shift production of a windshield washer production line at its Almásfüzitő plant in just two week. The unit […]
With millions of jobs at risk as the pandemic hits tourism harder than any other sector, the World Tourism Organization (UNWTO), with the support of the World Health Organization (WHO), calls on innovators and entrepreneurs to put forward new solutions to help the tourism sector recover from the COVID-19 crisis. The 'Healing Solutions' global call […]
The Deputy Head of the British Embassy in Budapest, Steven Dick is the 10th person to die of the Covid-19 coronavirus pandemic in Hungary. Steven Dick joined the team of the British Embassy in Budapest as its new Deputy Head of Mission in November 2019. Before his arrival, he served British diplomacy in Saudi Arabia […]
Qatar Airways says it is is continuing to keeping the skies open and getting as many people home as they possibly can in these challenging times. "Our state-of-the-art aircraft with their advanced air filter systems, combined with strict bio-security screening of our staff mean that we can continue operating a significant number of flights to […]
Approximately 10% depreciation of most of the CEE currencies in February and March 2020 puts both landlords and tenants in a very unfortunate predicament, according to a fresh report by Colliers International. Countries that have not adopted the Euro, or are not pegged to it, have each seen about 10% depreciation in currency value, during […]
In a message to the public, the President and Rector of the Central European University (CEU), Michael Ignatieff explains that with its highly international student body, CEU is facing the extraordinary challenge of supporting students from over 100 countries in their efforts to either return home while the institution’s campuses in Vienna and Budapest are […]
The Hungarian banking system is prepared for the extraordinary situation and the attached special measures such as the debt repayment moratorium, the government website quotes Finance Minister Mihály as saying following a meeting with representatives of the Hungarian Banking Association. The minister said the debt repayment moratorium announced on Wednesday – as part of which […]
A man of 80 years of age with chronic illness passed away this Monday as a result of Covid-19 coronavirus infection, bringing the number of fatalities related to this disease to eight in Hungary with the number of people recovering from the virus infection increasing to 21. As of this Monday evening, 167 people are […]
Tourism and hospitality are among the first victims of the economic storm caused by the COVID-19 coronavirus. Businesses in the sector began feeling the negative economic effects directly after the first domestic disease was reported. The government announced early on that some support would be needed to help the sector survive the difficult period ahead. […]
