Business - Diplomacy & Trade

EU Funds Couls Help Hungarian Construction Industry

D&T — Mon, 20 Jul 2026 21:25:36 +0000

Based on May data from the Hungarian Central Statistical Office (KSH), there are no signs of a turnaround in the construction industry yet: production volume fell by 10.7% year-on-year and by 6.5 % compared to the previous month. However, according to the local unit of Italian building materials manufacturer Mapei, the statistics do not yet […]

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OTP Bank Signs Agreement to Acquire Luminor Bank

D&T — Mon, 20 Jul 2026 19:21:54 +0000

Hungary's largest lender, OTP Bank Plc. announces that it signed a share purchase agreement to acquire 100% of the shares of Luminor Holding, the parent company of Luminor Bank, operating in the Baltic region. In an extraordinary announcement, OTP Bank Plc. said on the website of the Budapest Stock Exchange that the shares of Luminor […]

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Nestlé to Close Chocolate Figurines Factory in Hungary

D&T — Sat, 18 Jul 2026 09:01:00 +0000

Nestle Hungária has confirmed it will shut down production at its factory in the Diósgyőr area of the city of Miskolc (NE Hungary) by year-end because of a decline in demand for seasonal chocolate figurines. Staff were informed of the decision early in July, Nestlé Hungária said. Talks on the sale of the factory and […]

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Nestlé Completes Investment at Hungarian Plant

D&T — Fri, 17 Jul 2026 07:58:22 +0000

Nestlé has finished a HUF 900 millin upgrade of the road connecting to its plant in Bük (NW Hungary). The company widened a more than half-kilometer section of the road and built dedicated lanes for lorries and buses. The entire project took seven months to complete, and the new road will be opened to public […]

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Hungary Reopening Its Doors to Film Industry

D&T — Thu, 16 Jul 2026 16:51:00 +0000

Hungary is reopening its doors to the film industry as the registration limit for tax rebates imposed by the previous government has been lifted, Ervin Nagy, the deputy state secretary for culture, said in a video posted on social media on Thursday. The registration limit for tax rebates was a cap imposed in 2025 by […]

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CIG Pannonia Signs Deal to Acquire YOUPLUS Units

D&T — Thu, 16 Jul 2026 08:21:15 +0000

Listed Hungarian insurer CIG Pannonia has signed a blanket purchase agreement on the acquisition of the Czech and Slovak businesses of YOUPLUS Assurance, based in Liechtenstein, the company said in an announcement on the website of the Budapest Stock Exchange. The acquisition will provide a "stable foundation" for CIG Pannonia's entry onto the Czech and […]

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AutoWallis H1 Sales Down as Wholesale Turnover Weighs

D&T — Wed, 15 Jul 2026 10:51:00 +0000

Listed car seller AutoWallis's vehicle first-half sales edged down 1% year-on-year to 26,125, falling on the performance of the wholesale division, a preliminary report released on Wednesday shows. Sales of the wholesale division dropped 4% to 17,946, although the decline slowed in the second quarter, AutoWallis said. A fall in KGM brand sales and production […]

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Mapei Ltd. H1 Domestic Turnover Climbs Close to 15%

D&T — Tue, 14 Jul 2026 15:43:00 +0000

First-half domestic revenue of the local unit of Italian building materials maker Mapei rose 14.6% year-on-year to HUF 20.6 billion, Mapei Ltd. said on Tuesday. Export revenue of the unit, mainly to Romania and Serbia, surged 183.2% to HUF 584 million. The press release quoted Béla Markovich, managing director of Mapei Ltd., who pointed out […]

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K+H Big Business Growth Index Rises in Q2

D&T — Mon, 06 Jul 2026 11:42:00 +0000

K+H’s large company growth index improved to 9 points in the second quarter from -3 points in Q1, Tibor Bodor, K+H’s corporate division said on Monday presenting the lender’s report. The macroeconomic subindex jumped 31 points in one quarter to a record high of 17 points. The corporate subindex increasing by 5 points to 6 […]

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OTP Group Bond Program on Hong Kong Stock Exchange

D&T — Wed, 01 Jul 2026 13:39:00 +0000

OTP Bank became the first European Union financial institution to launch a EUR 7 billion Medium Term Note (EMTN) program on the Hong Kong Stock Exchange, the bank said on Wednesday. The launch of the program was celebrated with a gong ceremony on June 30. As the first step of the new program, a EUR […]

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4iG Units' Ownership Deal with Colt CZ Group International

D&T — Tue, 30 Jun 2026 08:57:00 +0000

N7 Defence Holding, Arzenál Fegyvergyár ['Weapons Factory'] and Colt CZ Hungary signed a binding term sheet with firearms manufacturer Colt CZ Group International on Monday, parent company 4iG said on Tuesday, MTI reports. The term sheet sets out the framework for the recapitalization of Colt CZ Hungary, the restructuring of its ownership structure and the […]

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Richter Gedeon Announces Mass Layoffs

D&T — Mon, 29 Jun 2026 09:32:00 +0000

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 […]

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Indotek Group Acquires 100% of Auchan Magyarország

D&T — Fri, 26 Jun 2026 10:01:00 +0000

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. […]

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Counterfeit Design-Based Goods: Huge Losses in Hungary

D&T — Sat, 20 Jun 2026 17:05:00 +0000

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, […]

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PHOENIX Pharma Inaugurates HUF 8 Bn Logistics Center

D&T — Fri, 19 Jun 2026 11:52:00 +0000

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 […]

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