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Xiaomi Opens Representation Office in Hungary

Nov 15, 2019

Big changes are expected in the mobile market - this was a promise made to competitors this past Wednesday night at Xiaomi's press conference in Budapest. The event was held on the occasion that the Chinese manufacturer is now entering the Hungarian market with an official representation office, reports. The manufacturer’s country manager for […]

GSK vaccine plant in Gödöllő

Vaccine Manufacturing Volume Increases in Gödöllő

Nov 14, 2019

As a result of the latest development of GlaxoSmithKline (GSK), the operations of its Hungarian factory in Gödöllő, east of Budapest have been extended to manufacture diphtheria and tetanus vaccine components for a new area of application. GlaxoSmithKline was established in 2001 by the merger of GlaxoWellcome, a company with a century-long history, and SmithKline […]

KPMG Launches Tax Tracker Mobile Application

Nov 14, 2019

A KPMG smartphone application is now available for download, giving users first-hand insights on tax issues in any country in the world, as well as professional analysis and reports prepared by KPMG. KPMG Digital Economy Tax Tracker runs on iOS and Android, as well. Developed by KPMG Global Services Hungary Ltd., KPMG Digital Economy Tax […]

AI Knowledge Center at the Budapest University of Technology and Economics

Microsoft AI Knowledge Center Program in Hungary

Nov 13, 2019

With its AI Knowledge Center Program, Microsoft Hungary launched a strategic partnership with Hungary’s top universities, Jean-Philippe Courtois, Executive Vice President and President, Microsoft Global Sales, Marketing and Operations announced. Within the framework of this collaboration, universities will develop high-utility applications based on artificial intelligence using cutting-edge Microsoft technologies. The strategic partnership between Microsoft and […]

Ceramic flower pot by István Gádor

Ceramic Artist's Bequest Auctioned

Nov 12, 2019

István Gádor, the creator of modern Hungarian ceramics, will have his bequest auctioned at the BÁV Auction House and Pawnshop in Budapest within the framework of the 75th Art Auction. In addition to István Gádor's most accomplished pieces, the collection to go under hammer includes outstanding paintings and sculptures created by some of his friends, […]

Trade Union Calls for Shorter Shop Opening Hours

Nov 12, 2019

The Independent Trade Union of Retail Workers (KDFSZ) has called on Budapest Mayor Gergely Karácsony to put forward a proposal limiting Sunday shop opening hours in Budapest, daily Magyar Nemzet reported. The trade union wants supermarkets with a floor area exceeding 400 square meters to be open only until 2 pm on the last day […]

The Hungary pavilion at the Second China International Import Expo

Innovative Hungarian Presence at China Expo

Nov 7, 2019

Chinese audience will learn about the innovative side of Hungary at the second China International Import Expo (CIIE), said Balázs Hendrich, CEO of the Hungarian Export Development Agency (HEPA) in Shanghai at the opening of the Hungarian Country Pavilion, the Hungarian news agency MTI reports. In addition to the tourist attractions, investment environment and trading […]

Huawei to Take Part in Building Hungary’s 5G Network

Nov 5, 2019

Hungary’s fifth-generation (5G) network will be built by Huawei, Vodafone and Deutsche Telekom, new portal reports, citing Minister of Foreign Affairs and Trade Péter Szijjártó. Hungary does not differentiate between companies based on their country of origin, Szijjártó said at the International Economic Forum organized in Shanghai. The U.S. government seeks to bar the […]

MOL Buys Stakes in Azeri Oil Field and Pipeline

Nov 4, 2019

MOL today signed an agreement with Chevron Global Ventures and Chevron BTC Pipeline to acquire their non-operated exploration and production as well as mid-stream interests in Azerbaijan for USD 1.57 billion (subject to adjustments at closing), the Budapest-based company said in a press release. The deal includes a 9.57% stake in the Azeri-Chirag-Gunashli (“ACG”) oil […]

The Future ‘Made in CEE’

Sándor Laczkó
Nov 1, 2019

Central and Eastern Europe will play an increasingly important role in the European Union's economy in the future. The current technological changes can give the region additional impetus. These are the core statements made at an international conference in Budapest this Thursday. Organized by the ‘Netzwerk Digital’ initiative and the organization ‘United Europe’, the event […]

Solare Park at Környe, Hungary

New Solar Park in Hungary

Oct 30, 2019

Hungarian-owned Eurotrade has inaugurated its 5-MW solar park in Környe, in north-western Hungary. According to the company's executive, Attila Szűcs, the HUF 1.6 billion (EUR 5m) investment, whose cornerstone was laid in April this year, was financed with the company’s own funds (30%) and a ten-year loan from the savings bank 'Takarékbank'. Eurotrade installed nearly […]

Slovenian Business and Tourist Event in Budapest

Oct 28, 2019

Slovenian Prime Minister Marjan Šarec addressed representatives of the Slovenian and Hungarian tourism industry Monday at the traditional Slovenia Tourism Promotion Event organized by the Slovenian Tourist Board. The politician highlighted that 24% more Hungarian tourists visited Slovenia in 2018 than in the previous year. "Slovenia is a green country with a wealth of natural […]

Tamás Nádasi

Understanding Chinese Business Culture

Sándor Laczkó
Oct 22, 2019

From introductions to negotiating tactics, the business culture in China, the world’s largest market, is different from European business culture. Being aware of cultural details is vital for commercial success, says Tamás Nádasi, President of the Chinese Committee established by the Hungarian Chamber of Commerce and Industry. Nádasi stresses that cooperation among Hungarian businesses and […]

Large Office space Supply in Budapest

Oct 21, 2019

The largest supply of modern office space in 15 countries of Central and Eastern Europe (CEE) was recorded in Warsaw, Budapest and in Prague, while the biggest increase of new supply in the first half of 2019 was noted in Bucharest. The most active tenant sectors are IT, professional services, banking and BPO/SSC. More and […]

ChinaCham president Ernő Pető

A Professional Voice

Sándor Laczkó
Oct 21, 2019

The Hungarian-Chinese Chamber of Economy (ChinaCham) aims to enhance Hungary’s role as a logistics and distribution center of Chinese goods for the region. In a previous interview with Diplomacy&Trade, ChinaCham President Ernő Pető stressed that “Europe needs China very much and China also needs Europe.” When asked whether he still stands by this statement, the […]

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