Hungarian pharmaceutical company Richter Gedeon has announced mass layoffs of more than 30 people over a 30-day period, the company announced in a statement on Monday. Richter is quoted by MTI to have said that the planned reductions will affect pharmaceutical manufacturing, particularly active ingredient manufacturing. Maintaining the competitiveness of active ingredient manufacturing is a […]

Hungarian property developer Indotek Group purchased the remaining 53% stake in Auchan Magyarország from Auchan Retail International to become sole owner of the company that owns and operates the retail chain, Indotek said on Friday. Indotek added that it the financed acquisition from internal funds. The sides did not reveal the value of the transaction. […]

Industries based on design are particularly vulnerable to counterfeiting: according to estimates, the fashion and apparel sector suffers annual losses of EUR 12 billion due to counterfeiting, while the handbag and jewelry sectors suffer losses of EUR 2.7 billion. In Hungary alone, counterfeit goods cause more than EUR 160 million in losses in design-based industries, […]

PHOENIX Pharma on Friday inaugurated a 6,550sqm logistics center in Győr (NW) Hungary built with investing HUF 8 billion of its own funds, MTI reports. PHOENIX Pharma board chairman Tamás Kaló said the center, established as a greenfield investment, serves the pharmacies, hospitals and the population of Győr-Moson-Sopron, Komárom-Esztergom, Veszprém and Fejér Counties. The base […]

Singapore-based Vulcan Shield, which supplies high-temperature insulation solutions to a range of industries and is building a plant in Békéscsaba (SE Hungary), has started test production with 12 workers at a plant rented from Linamar Hungary, executive manager of the Hungarian unit, Lóránt Komjáti is quoted by MTI as saying. Speaking at a local council […]

ContiTech Rubber International Ltd. has started recruiting more staff for its business service centre in Szeged (SE Hungary), the local unit of Germany's ContiTech said on Monday. ContiTech Rubber International Ltd. plans to hire 130 more white-collar workers at the BSC by the end of 2027, for positions in sales, business development, supply chain, engineering, […]

Ganz Transformers and Electric Rotating Machines has wound up a close to HUF 5 billion development project at its base in Tápiószele (E Hungary), the company said on Friday. As MTI reports, Ganz Electric upgraded its production equipment and expanded its capacity to deliver bespoke engineering solutions, paving the way for a bigger order book. […]

Hungarian oil and gas company MOL announced on Thursday that it successfully concluded negotiations with the government of Serbia on the conclusion of a shareholders' agreement for the acquisition of a majority stake in Serbian peer NIS. "Negotiations with the seller and the relevant authorities are ongoing in order to finalize the transaction," MOL's statement […]

The consolidated net profit of the Budapest Stock Exchange (BSE) for the first quarter of 2026, which includes the BSE's share of the KELER Group's results, is nearly HUF 1,64 billion, BSE announced on its website. The EBITDA value for the the first quarter of 2026 was HUF 613 million, which is 42% higher than […]

Hungarian pharmaceutical company Gedeon Richter announced the signing of a global collaboration agreement with Indian peer Hetero Labs on the joint development, registration and commercialization of a semaglutide injection, a generic of the anti-diabetic drug Ozempic, the Hungarian company has announced on thew website of the Budapest Stock Exchange. The agreement combines the companies’ complementary […]

Mass production has begun at South Korean-owned EcoPro BM Hungary's cathode materials plant in Debrecen (E Hungary), according to a company statement released and reviewed by MTI on Tuesday. The plant is EcoPro's first European manufacturing base. The 44-hectare complex has three units: EcoPro BM produces cathode materials, EcoPro Innovation processes lithium and EcoPro AP […]

Revenue of Hungary's Wallis Group rose 27% to HUF 912 billion in 2025, the company said on Tuesday. Foreign markets generated a little over 60% of turnover. Turnover at WING Group, the largest portfolio company of Wallis Group, rose by 53% to HUF 304 billion in 2025, while its EBITDA reached HUF 64 billion. The […]

István Szászi, head of the Bosch Group in Hungary and the Adria Region, received the 2025 Manager of the Year Award, while Sándor Csányi, chairman of OTP Bank, was honored with the 2025 Manager of the Year Lifetime Achievement Award, the National Association of Managers announced to MTI on Monday. The Managers’ Association held the […]

Logistics company STI Hungary has acquired a division of Hungary's Complex 3H that has developed a thermal system for maintaining temperatures of pharmaceutical shipments without an external power source for up to seven days, MTI reports. In a statement, STI Hungary managing director Péter Csipes said the technology could be used for shipments of biotechnology […]

First-quarter revenue from premiums of Hungarian insurers inched up 0.5% year-on-year to HUF 572 billion, data released by the National Bank of Hungary (MNB), and reviewed by MTI, show. Revenue from premiums on life insurance policies decreased 8.5% to HUF 212 billion. Revenue from premiums on general insurance policies climbed 6.7% to HUF 360 billion. […]