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Singapore Airlines: Capital Increase and Bond Issue

D&T
Mar 30, 2020

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 […]

5G frequencies sold in Hungary

D&T
Mar 30, 2020

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 […]

Chamber Proposal to Cope with COVID-19 Crisis

D&T
Mar 26, 2020

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 […]

MOL Starts Producing Sanitizers

D&T
Mar 26, 2020

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 […]

Opportunities and Challenges in Extraordinary Times

D&T
Mar 25, 2020

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 […]

Immediate Help for Those in Need

D&T
Mar 20, 2020

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. […]

MOL Discovers Oil and Gas in the North Sea

D&T
Mar 19, 2020

MOL Norge AS, a wholly owned subsidiary of Hungary' MOL Group, and its joint venture partners have discovered oil and gas in an offshore field located about 200 kms west of Stavanger in the Norwegian part of the North Sea. A statement by the company says the exploration well in the 820S licence area was […]

Airlines in Need of Government Help

D&T
Mar 18, 2020

The International Air Transport Association (IATA) expects the global airline industry to need USD 150-200 billion in various forms of government financial assistance to survive the current COVID-19 crisis, the association’s director general and CEO Alexandre de Juniac is quoted by AVIATION WEEK. Losses the industry is facing will “certainly” be around USD 40 billion […]

Production line at the Mercedes plant in Kecskemét

Major Mercedes-Benz Investment at its Kecskemét Location

D&T
Mar 16, 2020

Mercedes-Benz AG increases flexibility in the global production network of Mercedes-Benz cars by building a new press shop on an area of ​​around 23,000 square meters in the company’s plant in Kecskemét, SE of Budapest. The new press shop will set standards in digitization in metal forming while design, development, planning, tool manufacturing and production […]

Electric Vision

Sándor Laczkó
Mar 4, 2020

Honda is accelerating its electrification plans for Europe by moving forward its goal for all of its European mainstream models to feature electrified powertrains by 2022. The bold new target, recently announced during the 'Electric Vision' event in Amsterdam, is three years ahead of the previously announced 2025 goal, demonstrating the confidence Honda has in […]

Going Premium

Sándor Laczkó
Mar 3, 2020

The history of Dreher Breweries dates back to 1854 when local brewer Peter Schmidt produced his first beer in Kőbánya. Antal Dreher, dubbed the ‘King of Beer’, bought Schmidt’s brewery eight years later and turned it into an iconic establishment. Antal Dreher was a revolutionary figure in the history of beer. In 1841, he unveiled […]

New Lufthansa Systems office in Szeged

Lufthansa Systems Hungária Opens Office in Szeged

D&T
Mar 2, 2020

One of the leading aeronautical information technology companies, 25-year-old Lufthansa Systems Hungária, is expecting Java and Javascript developers, testers and data engineers to join its newly opened office in Szeged. The company does not leave the recruitment to chance, either: in the summer of 2019, it signed an agreement on applied and industrial research cooperation […]

Shine a Spotlight on CEE

Sándor Laczkó
Feb 26, 2020

CEE Business Media operates the English-language BiznesPolska.pl, and is the organizer of several international award events, including the Japan – Central Eastern Europe Investment Awards, which will take place in Tokyo on April 23. The Founder and Editorial Director of CEE Business Media, Thom Barnhardt tells Diplomacy&Trade that “our focus is on connecting international investors […]

Bridging Businesses

Sándor Laczkó
Feb 24, 2020

The Japan External Trade Organization (JETRO) established an office in Budapest in 1991. And, according to the General Director of the office, Ms. Akiko Okumura, they have been receiving requests for investment consultation from Japanese companies non-stop ever since. “JETRO's strengths lie not only in its networks overseas, but also in every prefecture in Japan. […]

First Seoul-Budapest Cargo Flight Launched

D&T
Feb 21, 2020

Budapest Airport welcomed the first direct Seoul-Budapest cargo flight this Thursday; Korean Air’s Boeing 777F type cargo aircraft taxied to the apron of BUD’s logistics base at 10:40. A press release by the airport management company says this aerial connection is not only an excellent opportunity for the large Korean companies operating in Hungary, but […]

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