Media specialist Piroska Bakos is the new Head of Communications at the Hungarian oil and gas giant MOL Co. Ltd. She holdsthe position of the Group's communications manager in Hungary as of April 15. Piroska Bakos leads MOL Hungary's team responsible for Hungary's external and internal communications, as well as acting as spokesperson, under the […]
The international furniture and home retail chain JYSK has announced to build a distribution center in Ecser, southeast of Budapest, to provide stores in seven countries with goods. Due to this investment worth EUR 200 million, the Danish furniture company is going to create 300 new jobs. Following the opening of its first shop in […]
Audi Hungaria resumes production at its Győr plant as of this Tuesday. In consultation with the Volkswagen Group, Audi has developed a comprehensive package of measures to prevent the spread of the pandemic in the factory, in line with the regulations of the Hungarian health authorities, the local daily Kisalföld reports. One of the cornerstones […]
Magyar Telekom has begun its commercial 5G data transmission service. Initially, it is available in certain parts of Budapest and Zalaegerszeg, SW Hungary. 5G technology, allowing data transmission rates significantly higher than earlier, low latency, and the connection of a vast amount of network devices shall open up a number of new possibilities for residential […]
Due to the coronavirus pandemic the Gál Tibor winery in Eger, east of Budapest has lost all its sales channels: restaurants, wine bars, wine stores are all closed down and the restaurant which served guests and direct sales is, of course, no exception. “However, life must go on,” winemaker Tibor Gál says. “Spring is here, […]
The National Association of Television Program Executives (NATPE), the premier global business association for content producers, distributors, streamers and buyers across all platforms has announced the rescheduling of NATPE Budapest International to August 25th through 27th, 2020, and NATPE Streaming Plus to September 15, 2020 as a result of the Covid-19 pandemic. NATPE Budapest International […]
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. […]
