The Hungarian-Chinese Chamber of Economy (ChinaCham) aims to enhance Hungary’s role as a logistics and distribution center of Chinese goods for the region. In a previous interview with Diplomacy&Trade, ChinaCham President Ernő Pető stressed that “Europe needs China very much and China also needs Europe.” When asked whether he still stands by this statement, the […]
Establishing a presence in a foreign market can often bring about unexpected diff iculties stemming from cultural and linguistic differences, divergent business cultures or lack of specif ic knowledge about market conditions. Hungary’s Export Promotion Agency offers decades of knowhow and expertise to businesses seeking to venture outside Hungary, even to far-flung countries like China, […]
The volume of industrial output grew by 0.3% year-on-year in August, Hungary’s Central Statistical Office reports. Based on working-day adjusted data, production rose by 2.7%. on a monthly basis, industrial output decreased by 1.2%, according to seasonally and working-day adjusted data. The volume of industrial exports increased by 2.0% year-on-year. Transport equipment exports, accounting for […]
Four hotels in Budapest made it to the list of the Readers’ Choice Awards published by Condé Nast Traveler. The ranking consists of the 20 best hotels in Central Europe, including Switzerland. The Aria Hotel Budapest by Library Hotel Collection ranks the highest among the Hungarian hotels in the 5th place, preceded by 4 Swiss […]
The Netherland’s FrieslandCampina, one of the most prominent dairy companies in Hungary, is the producer of the nation’s favorite dairy dessert. The company manufactures a chocolate-covered sweet curd snack that has been a household name in Hungary since 1968. In addition to manufacturing operations, the company also operates a service center in the capital. Ask […]
The volume of sales in retail shops increased by 5.8% in August from a year earlier, according to data adjusted for calendar effects, Hungary's Central Statistical Office reports. Sales rose by 3.4% in specialized and non-specialized food shops, by 9.8% in non-food retail shops and by 4.3% in automotive fuel retailing. In January–August, the volume […]
Using a service developed by Hungarians, Rakuten Viber and Mastercard have launched an instant money transfer service, called Moneytou, Hungarian state news service MTI said. Owners of credit cards issued by Hungarian banks will be the first in the world to use the service for immediate financial transactions. Viber users will be able to send […]
As health consciousness is gaining ground worldwide, brewers are hopping on the innovation wagon to keep up with shifting consumer demands. HEINEKEN Hungary is developing novel brewing techniques at its Sopron Brewery as focus shifts toward premium products and alcohol-free beers. Beer and Sopron share a history spanning several centuries. The western Hungarian city, which […]
GS Yuasa's first factory on the European continent is now complete. Through its EUR 28.8 million plant in Miskolc, the Japanese battery producer will supply its European automotive partners manufacturing electric vehicles (EV) with lithium-ion resources, further strengthening Hungary's position in electromobility, the Hungarian Investment Promotion Agency reports. The Hungarian government has contributed 465.3 million […]
Countries in Central and Eastern Europe display significant local differences in their healthcare systems and the delivery of healthcare services. Aging populations and the increase in chronic epidemic diseases shifted the focus at Philips to health and healthcare and the company relies on the latest developments in digitization, big data and artificial intelligence to design […]
Following a period of employee consultations, Rolls-Royce has completed the acquisition of the electric and hybrid-electric aerospace propulsion activities of Siemens (formerly known as the eAircraft business). As a result of the transaction, Rolls-Royce has established a subsidiary in Hungary, employing about 100 engineers taken over from Siemens. "The timely execution of the deal, announced […]
The Hungarian capital's largest exhibition site, Hungexpo will refurbish and modernize existing pavilions, build two new exhibition halls, a new reception building and a congress center by 2021, the company said. The budget of the investment project is HUF 55 billion. The foundation stone of Hungexpo's revitalization development was laid on Monday. The press release […]
The Dutch flag carrier is celebrating its 100th anniversary this October amid turbulent times for the aviation industry. The airline will need to rely on its commitment to adapting to shifting operational trends and embracing new technologies if it is to celebrate its bicentennial anniversary. The Dutch propensity for traveling and exploring the farthest corners […]
Staying ahead of the game in the digital age requires constant innovation and a flexible mindset when it comes to business opportunities, says Imre Sztanó, Chief Executive Officer of NN Insurance Co. Ltd. in Hungary. The country’s largest life insurance provider relies on cutting-edge technologies and innovative organizational changes to hold on to its leading […]
The American company Arconic that specializes in lightweight metals engineering and manufacturing has announced that its Hungarian subsidiary, Arconic-Köfém Ltd., received the 2019 Chain Bridge Budapest Award. Launched in 2017, this prize is awarded each year by the Hungarian Investment Promotion Agency (HIPA) to the company that makes the greatest contribution to the development of […]
