The Hungarian subsidiary of JYSK, a retail chain of Scandinavian origin selling household goods, has donated 16 mattresses for the newly established center of the Szent-Györgyi Albert Clinical Center of the University of Szeged in Southeast Hungary for the treatment of coronavirus. The mattresses are for the convenience of short rest periods in the 12-hour […]
Tackling the present coronavirus situation is a challenge for all companies. They all seek answers to protect their employees and keep business flow. Eisberg Hungary, operating a 3,000-sqm salad factory in Gyál since 1992, just outside Budapest, has its own solutions. Tackling the present coronavirus situation is a challenge for all companies. They all seek […]
After consultation with Budapest companies, the Budapest Chamber of Commerce and Industry (BKIK) developed measures and proposals that can be introduced quickly but can be applied for a limited time to deal with the economic situation caused by the coronavirus epidemic. These proposals were also sent to the competent bodies of the Hungarian government. Following […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
