The Independent Trade Union of Retail Workers (KDFSZ) has called on Budapest Mayor Gergely Karácsony to put forward a proposal limiting Sunday shop opening hours in Budapest, daily Magyar Nemzet reported. The trade union wants supermarkets with a floor area exceeding 400 square meters to be open only until 2 pm on the last day […]
Chinese audience will learn about the innovative side of Hungary at the second China International Import Expo (CIIE), said Balázs Hendrich, CEO of the Hungarian Export Development Agency (HEPA) in Shanghai at the opening of the Hungarian Country Pavilion, the Hungarian news agency MTI reports. In addition to the tourist attractions, investment environment and trading […]
Hungary’s fifth-generation (5G) network will be built by Huawei, Vodafone and Deutsche Telekom, new portal portfolio.hu reports, citing Minister of Foreign Affairs and Trade Péter Szijjártó. Hungary does not differentiate between companies based on their country of origin, Szijjártó said at the International Economic Forum organized in Shanghai. The U.S. government seeks to bar the […]
MOL today signed an agreement with Chevron Global Ventures and Chevron BTC Pipeline to acquire their non-operated exploration and production as well as mid-stream interests in Azerbaijan for USD 1.57 billion (subject to adjustments at closing), the Budapest-based company said in a press release. The deal includes a 9.57% stake in the Azeri-Chirag-Gunashli (“ACG”) oil […]
Central and Eastern Europe will play an increasingly important role in the European Union's economy in the future. The current technological changes can give the region additional impetus. These are the core statements made at an international conference in Budapest this Thursday. Organized by the ‘Netzwerk Digital’ initiative and the organization ‘United Europe’, the event […]
Hungarian-owned Eurotrade has inaugurated its 5-MW solar park in Környe, in north-western Hungary. According to the company's executive, Attila Szűcs, the HUF 1.6 billion (EUR 5m) investment, whose cornerstone was laid in April this year, was financed with the company’s own funds (30%) and a ten-year loan from the savings bank 'Takarékbank'. Eurotrade installed nearly […]
Slovenian Prime Minister Marjan Šarec addressed representatives of the Slovenian and Hungarian tourism industry Monday at the traditional Slovenia Tourism Promotion Event organized by the Slovenian Tourist Board. The politician highlighted that 24% more Hungarian tourists visited Slovenia in 2018 than in the previous year. "Slovenia is a green country with a wealth of natural […]
From introductions to negotiating tactics, the business culture in China, the world’s largest market, is different from European business culture. Being aware of cultural details is vital for commercial success, says Tamás Nádasi, President of the Chinese Committee established by the Hungarian Chamber of Commerce and Industry. Nádasi stresses that cooperation among Hungarian businesses and […]
The largest supply of modern office space in 15 countries of Central and Eastern Europe (CEE) was recorded in Warsaw, Budapest and in Prague, while the biggest increase of new supply in the first half of 2019 was noted in Bucharest. The most active tenant sectors are IT, professional services, banking and BPO/SSC. More and […]
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 […]
