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METRO store just outside Budapest

METRO Leases Back Property

D&T
Sep 9, 2019

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 […]

Continental Automotive Celebrates 30 Years in Hungary

Continental Automotive Celebrates 30 Years in Hungary

D&T
Aug 30, 2019

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 […]

AIM-120 advanced medium-range air-to-air missiles

Hungary Plans to Buy Missiles from the United States

D&T
Aug 29, 2019

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 […]

GreenGo in Prague

GreenGo Starts Foreign Expansion

D&T
Aug 28, 2019

Hungarian electric car sharing service GreenGo is entering the Czech market, offering the chance to environmentally-conscious drivers to use their cars in the Czech capital, according to a press statement by the company. Budapest-based GreenGo was the first service provider to introduce electric community driving in Eastern Europe at the end of 2016. Their fleet […]

SMP in Kecskemét

Welcome to Hungary

Edith Balázs
Aug 23, 2019

Indian companies have invested close to USD two billion in Hungary over the past three decades, making the Asian country one of the most prolific sources of capital from the East. Diplomacy&Trade takes a look at the most significant corporate investments that hail from the subcontinent. The 2014 announcement of India’s Apollo Tyres, the world’s […]

Prabal Datta, Head of Tata's Global Delivery Center in Hungary

Serving the Globe from Hungary

Edith Balázs
Aug 17, 2019

An increasing number of businesses are implementing digital technologies in their daily business processes, driving demand for IT service providers that help their customers to bridge the digital gap, Prabal Datta, Head of Tata’s Global Delivery Center in Hungary says. A worldwide leader in IT services, Tata Consultancy Services (TCS) set up its Global Delivery […]

Farmer Expo in Debrecen

Farmer Expo Opens in Debrecen

D&T
Aug 15, 2019

The largest agricultural trade exhibition and fair in Eastern Hungary is held between August 15 and 18 this year at the agricultural campus of the University of Debrecen with 300 exhibitors. Farmer Expo is one of the leading international agricultural and food trade fairs in Hungary, which, from the very first moment, purposefully seeks to […]

Aston Martin logo

Aston Martin Salon to Be Opened in Hungary

D&T
Aug 1, 2019

Hungary's Gablini Group signed an agreement with the luxury brand to open an Aston Martin salon in Hungary next May, state news service MTI reported. Hungary will be the first country in central and eastern Europe where the brand is available and the salon will serve the Slovenian, Croatian, Serbian, Romanian, and Albanian markets. The […]

LOT's Chief Executive Officer Rafal Milczarski

Poland’s LOT to Launch 5 New Flights From Budapest

D&T
Jul 31, 2019

Polish airline LOT will start operating direct flights to Seoul, Prague, Belgrade, Stuttgart and Sofia, Hungarian state news service MTI reported, citing Rafal Milczarski, LOT’s Chief Executive Officer. The new Seoul service, to be operated 3 times a week from 22 September, will be the first direct air connection between Hungary and South Korea, Milczarski […]

SMEs in agricultural sector

Small Agriculture Businesses Falling Behind

D&T
Jul 30, 2019

Service providers and construction companies are the most successful enterprises in the Hungarian SME sector whereas agricultural companies are struggling to cope in today's business environment, according to a study commissioned by UniCredit Bank and carried out by Inspira Research. Industrial enterprises have the highest business potential and their ratio within the SME segment remained […]

Richter's Antipsychotic Drug to Be Sold in the Middle East and North Africa

D&T
Jul 25, 2019

Hungarian pharma firm Gedeon Richter has signed an exclusive license agreement with Hikma Pharmaceuticals Plc. to sell Richter's anti-psychotic drug ‘cariprazine’ in some Middle Eastern and North African (MENA) markets. Under the terms of the agreement, Richter will be responsible for product supply and Hikma will proceed with the registration and commercialization of the product […]

Audi Hungaria assembly hall

AUDI HUNGARIA Expands Capacities in Győr

D&T
Jul 24, 2019

AUDI HUNGARIA is to launch a comprehensive development at its plant in Győr, NW Hungary: it will expand the e-motor production capacity as well as the engine development center and the vehicle manufacturing infrastructure. The complex investment program worth EUR 127 million is the first step in the preparation to the challenges triggered by electro-mobility, […]

Bumchun

Bumchun Precision Comes to Hungary

D&T
Jul 24, 2019

South Korea's Bumchun Precision will build its first foreign plant in Hungary with an investment of HUF 13.3 billion . The new factory in Salgótarján, NE of Budapest, will manufacture aluminum battery connectors and will operate as a first-tier supplier to electric car manufacturers . At the official announcement, Hungarian Minister of Foreign Affairs and […]

Production line

Labor Shortage Causes Severe Revenue Loss for CEE Businesses

D&T
Jul 24, 2019

Lack of skilled workforce costs EUR 358 billion to companies in the region, PwC says Business leaders in central and eastern Europe are growing increasingly concerned about talent and skills shortages and their hampering effect on growth. The loss in revenue resulting from the increasing lack of skilled workforce is estimated to amount to a […]

The would-be Doosan factory in Tatabánya

Copper Thin Foil Manufacturer Chooses Hungary

D&T
Jul 23, 2019

South Korean Doosan lays foundation stone of manufacturing unit in Tatabánya Industrial Park. South Korea's Doosan will construct a new manufacturing unit in Hungary with a capacity to produce 50,000 tons of red copper foil on a year. The investment is part of the EUR 100 million project unveiled in November 2018. The annual amount […]

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