The Belgian region of Flanders has one of the world’s most open economies and businesses established there are naturally inclined to expand abroad. The Hungarian representation of Flanders Trade & Investment (FIT), set up by the Flemish government in 2005, serves as a gateway to the Hungarian market for Flemish exporters. The FIT office in […]
Under Belgium’s federal system, the country’s three provinces of Flanders, the Brussels Capital region and Wallonia exercise independent powers as they strive to enshrine their economic autonomy. An area where this becomes markedly obvious is trade and investment promotion, and accordingly the regions operate separate trade representation offices in Hungary to facilitate bilateral business relations. […]
The Hungarian oil and gas company MOL Plc. has notified the market on the website of the Budapest Stock Exchange that the Supervisory Board of its Croatian subsidiary, INA granted its prior agreement this Friday for the Rijeka Refinery Residue Upgrade project and the INA Management Board unanimously approved the investment. The decision was supported […]
French company Suez is expanding its water purification membrane factory in Oroszlány, west of Budapest with an investment of HUF 9.6 billion, creating 85 new jobs. As the Hungarian Minister of Foreign Affairs and Trade, Péter Szijjártó stressed at the announcement of the investment in Budapest, the products of the Oroszlány plant are already used […]
APG Network is the world’s leading platform for airline services. With over 100 offices covering more than 170 countries, APG is the world's largest general sales agent (GSA) network, partnering with over 200 airlines to help them optimize revenue flows. APG Network is the global ‘go to’ service provider for air carriers and it offers […]
Magyar Telekom, the leading Hungarian telecommunications service provider has announced that the its Board of Directors resolved to streamline its management structure by re-allocating the tasks and responsibilities of the Management Committee to the Chief Officers and to the Board of Directors of the Company with effect from January 1, 2020. Additionally, the Board of […]
Magyar Telekom, the leading Hungarian telecommunications service provider, has announced that it has reached an agreement with the trade unions on a headcount reduction and wage increases at the company in 2020. The company agreed with the trade unions on the termination of the employment relationship of some 450 employees, with the majority of the […]
Startup Campus Hungary has organized and executed a high-level startup tour in Athens for the first time, where representatives of the Hungarian and Greek ecosystems were able to establish new business relationships in the areas of smart city and sustainable energy management. A delegation organized by Startup Campus Hungary, powered by HEPA (Hungarian Export Promotion […]
Lufthansa Systems Hungária will open a new division at its base in Szeged, southeastern Hungary, specializing in the development and testing of software used in the aviation industry, state news agency MTI reported.The division will initially employ 10-15 IT professionals but the company plans to increase headcount by 15-20 employees every year. Lufthansa Systems started […]
Russia’s International Investment Bank, which relocated its headquarters to Budapest in April, expects its loan portfolio to exceed EUR 1 billion by the end of the year, executives of the bank said at a press conference. The bank’s loan portfolio expanded by 11% in the six months since moving to Hungary and the value of […]
Hungary's currency, the forint weakened to a new historical low against the euro this morning with the exchange rate reaching HUF 337.24/EUR on the interbank market. The Hungarian currency has depreciated by 2.5% over the past month and by 5% since the beginning of the year. The US dollar is currently close to 306 forints, […]
Compañía Auxiliar de Ferrocarriles S.A. (CAF) was established in 1917 primarily as a manufacturer of freight wagons. However, the company’s beginnings date back to 1892, when the production of wagons started in Beasain in Basque Country and to 1897 with the manufacturing of tramways in Zaragoza, Aragón. Over the past century, the company has grown […]
The Campeonato Nacional de Liga de Primera División (LaLiga), or the top division of the Spanish football championship, is one of the most popular soccer competitions among Hungarian sports fans. Elisa Alvarez Martin, LaLiga’s representative for Hungary and the Balkans seeks to boost the popularity of the championship in this part of the continent. Elisa […]
9% net sales growth, nearly HUF 10 billion export sales, 37% export ratio – these are the main numbers characterizing the business results of Hungary’s ANY Security Printing Company PLC. In the first nine months of 2019, according to a report published on the website of the Hungarian Stock Exchange where the company is listed. […]
Hungarian business researcher András Tilcsik is the recipient of the Strategy category of this year's Thinkers50 Awards dubbed by the Financial Times as 'the Oscars of Management Thinking'. Tilcsik was recognized for his book 'Meltdown: Why Our Systems Fail and What We Can Do About It', written together with American Chris Clearfield. András Tilcsik is […]
