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 […]
Unilever Hungary will be expanding its household chemical goods production facility in Nyírbátor, NE Hungary with an investment of EUR 42 million (now cca HUF 15 billion), adding 30 new jobs to the existing 300. One of the most modern European plants of the British-Dutch parent company expands the floor area of its home care […]
Flisom, a developer and manufacturer of photovoltaic (PV) thin film solar cells, located near Zurich, Switzerland, has chosen Kecskemét, southeast of Budapest for the location of its first plant of industrial capacity. The Swiss technology company is going to produce ultra-thin, light and flexible solar cells using the most modern technology available. The 50 MW […]
The European Commission has issued a practical guide to facilitate the free movement of priority workers and frontier workers between EU member states. The Commission thus supports governments in creating the conditions under which cross-border commuters can cross borders, where appropriate, without circumventing controls, with proportionate health measures. It is a positive development in this […]
Wizz Air CEO and co-founder József Váradi donates over GBP one million for scholarship programs at the University of London where he completed his LLM postgraduate academic degree in 2014, specializing in International Business Law. "The Váradi Scholarships, open to all University of London flexible and distance learning programs, will offer up to 100 scholarships […]
Ferenc Liszt International Airport has lost more than 99% of its passenger traffic in April, on account of the crisis caused by the coronavirus pandemic and thus, headcount reduction among the employees has become inevitable, according to a statement by the facility's management company Budapest Airport. The document says that since the beginning of the […]
On April 29, Magyar Suzuki Corporation will restart production. While introducing healthcare and safety measures which will be more complex than any other measure before, the company will gradually restore production in one shift at the beginning. The Esztergom plant, NW of Budapest, continuously monitors the market needs and shapes production plan according to this. […]
The previous momentum in the construction industry still keeps the number of start-ups in the sector high. In March 2020, nearly 80% more businesses were launched in the sector than were closed. It was expected that the effect of the coronavirus would not be immediately apparent in the sector, but the March values refute all […]
By early April, Budapest Airport lost approximately 99.3% of its passenger traffic. Earlier, there were 320 aircraft movements, i.e. landings and takeoffs per day on average. Currently, this is just 35, of which only a few aircraft are airliners. In April 2019, the average daily passenger number (arriving and departing) was 44 000; this year, this […]
The stability of customers and suppliers is important for UniCredit Bank Hungary Co. Ltd. – as are liquidity-maintaining payments in economic life, a statement by the company says. With this in mind, UniCredit Bank supports its domestic suppliers by speeding up the payment of their invoices by settling them immediately after the usual checks. This […]
