During the epidemic and under the conditions of temporary production shutdown, Denso Manufacturing Hungary Ltd. managed to save all jobs in the plant of Székesfehérvár's largest employer. They were not satisfied with the government's wage support plan first but now, they use the modified version. The crisis forced the Hungarian plant of the Japanese company […]

Hungarian liquor producer Zwack Unicum Plc. has published the results of the company for the 2019-2020 business year: slight increase in gross sales and significant decrease in net sales. According to audited data, total gross sales of the company were HUF 26,358 million – practically the same as in the previous business year (+HUF 17 […]

In the period since the start of production in 1982 until this Tuesday, May 19, the Paks Nuclear Power Plant has generated a total of 500 terawatt hours, or more than 500 billion kilowatt hours of electricity. Such an amount of electricity would be able to supply the entire world with electricity for a full […]

Wescast Industries Inc., the world's leading supplier of cast exhaust manifolds for passenger cars and light trucks lays off 250 employees from its factory in Oroszlány, west of Budapest, the Hungarian news agency MTI reports. The news agency learned from the Vasas (Iron Workers') Trade Union that 250 of the 800 employees will be made […]

Hungarian airlines will receive a tax credit, according to the Hungarian Gazette published Friday night. According to this, the tax credit is available to companies with at least 10 employees whose main activity is one of the following: manufacture of aircraft and spacecraft; aircraft, spaceship repair; or air passenger transport - and sales fell by […]

Preparatory processes related to the construction of the BMW Group's future plant in Debrecen, E Hungary have reached another important milestone: after the successful land preparation works commissioned by the city of Debrecen, the BMW Group will officially take over the area by the end of May, according to a press release by BMW Hungary. […]

Life is slowly returning to airports from May; aviation has restarted in several European countries, amidst heightened safety measures. From May 1, traffic has resumed at Budapest Airport as well, albeit only gradually, as more and more airlines announce the relaunch of flights to Budapest.  According to the latest Airport bulletin, the coronavirus pandemic had […]

Total revenues at the Magyar Telekom Group in the first quarter of 2020 amounted to HUF 159.333 billion, which is 0.2% higher compared to the corresponding period in 2019, according to the Group’s latest financial report. The operating profit in the first three months of the year was HUF 12.723, 1.1% more than a year […]

Hungary produced the largest increase in new passenger car registrations in the first quarter of 2020 among the member countries of the EU and EFTA in the alternatively powered vehicles (APV) category that includes all vehicles not running on petrol or diesel (that is, electric chargeable, hybrid and other alternative powered ones. According to the […]

Hungary's OTP Bank Plc. has announced that the summary of its first quarter 2020 results has been prepared on the basis of its non-audited separate and consolidated IFRS financial statements for March 31, 2020 or derived from that. Q1 2020 results were shaped mainly by the surging risk costs due to the assumed negative impact […]

There is ample scope for a ‘green’ recovery of the Hungarian economy. That is the conclusion drawn by the National Bank of Hungary (MNB), which, at the end of March, initiated a call for consultations with environmental experts, non-governmental organizations and institutes on the environmentally sustainable restart of the economy following the epidemic caused by […]

Developed by the Hungarian company ID&Trust, the solution 'GoodID COVID-19 Green', which is being tested for the first time at the Róbert Private Hospital in Budapest, is making its debut these days. Thanks to this, one can get a free digital certificate about the result of the coronavirus test performed by the healthcare institution. The […]

Sales and profit grew well above analysts' expectations in the first quarter of this year for the Hungarian pharmaceutical company Richter Gedeon Plc. The firm achieved a consolidated after tax profit of HUF 29.1 billion, which is 34.6% higher than in the same period of the previous year, and its sales revenue increased by 16.3% […]

Qatar Airways has announced that it will begin a phased approach to expanding its network in line with passenger demand evolution and the expected relaxation of entry restrictions around the world. It is going to operate again from June 2020 between Budapest and Doha three times a week. A press release by Qatar Airways says […]

"In light of the current situation, we will be delaying a number of projects, like the plant in Hungary. Other projects will be carefully reconsidered. Now, more than ever, our investments need to be targeted and based on sound judgement," Nicolas Peter, Member of the Board of Management of BMW AG has announced. A press […]