Lack of skilled workforce costs EUR 358 billion to companies in the region, PwC says Business leaders in central and eastern Europe are growing increasingly concerned about talent and skills shortages and their hampering effect on growth. The loss in revenue resulting from the increasing lack of skilled workforce is estimated to amount to a […]

South Korean Doosan lays foundation stone of manufacturing unit in Tatabánya Industrial Park. South Korea's Doosan will construct a new manufacturing unit in Hungary with a capacity to produce 50,000 tons of red copper foil on a year. The investment is part of the EUR 100 million project unveiled in November 2018. The annual amount […]

The Bavarian premium brand has signed a cooperation agreement with two Debrecen vocational schools. BMW Group is launching a dual vocational training program at the BMW plant in Debrecen, northeastern Hungary from September 2021, based on a model that has already proved successful in Germany . The Bavarian company and the Debrecen Vocational Training Center, […]

European Commission Clears Vodafone's Bid to Buy Liberty Global Units The European Commission granted approval for Vodafone to acquire Liberty Global's cable business in Czechia, Germany, Hungary and Romania in exchange for full compliance with commitments previously undertaken by Vodafone. As a result, the U.K.-based telecommunications giant will become the new owner of UPC Hungary. […]

Budapest Bike-Sharing Data to be Available in Google Maps Google is launching a new service in 25 cities worldwide, including the Hungarian capital, showing users the exact location of bicycle-sharing docking stations, mediapiac.com reported. The service, offered by Google’s Map function, will also provide real-time information on the number of available bikes in a particular […]

Budapest hotel offering sees new unit Spain’s Barceló Group opened its first four-star hotel in downtown Budapest, state news service MTI reported, citing the developer company Sunbelt Group. Barceló operates more than 250 units in 22 countries worldwide. The Barceló Budapest, which was developed at a cost of close to EUR 46 million, has 5 […]

Hungarian energy company Mol will expand its community car sharing service Mol Limo with 50 new electric cars from the middle of July, state news service MTI said. The new 20 Smart EQ fortwo and 30 forfour models are smaller and easier to park. Following the expansion, the number of available cars will rise to […]

Magyar Telekom, the leading Hungarian telecommunications service provider, has announced that it has signed Heads of Terms with Hungarian company 4iG about the sale of its fully-owned subsidiary T-Systems Hungary, which offers a full range of ICT solutions. Under the Heads of Terms, 4iG will purchase all the shares of T-Systems by the close of […]

Japanese firm Toray Industries is boosting its operations in Hungary by investing more than EUR 407 million in the construction of a new plant in Nyergesújfalu, a town on the River Danube, northwest of Budapest. The new unit will manufacture separator films for lithium-ion batteries from the second half of 2021. Toray first came to […]

The short-term outlook for the banking industry in Central and Eastern Europe is reassuring, but the financial industry has grown more cautious with respect to lending despite a supportive macroeconomic and industry backdrop, Kevin A. Murray, Chief Executive Officer for Central Europe and Country Head for Hungary tells Diplomacy&Trade. In recent years, countries in Central […]

Bridgestone EMEA is injecting EUR 36 million into its eight European plants, including the one in Hungary, transforming them into smart factories, the EMEA business of the world’s largest tire and rubber company has announced. In the company’s Hungarian factory in Tatabánya, west of Budapest, where tire production is already digitalized, the entire manufacturing process […]

The Business Council for Sustainable Development in Hungary (BCSDH) has announced the ‘For a Sustainable Future’ prize in 2019, with the purpose of recognizing the achievements of leaders and companies on advancing Sustainable Development Goals (SDGs). In the 'Leading Women' category, BCSDH is looking for an outstanding female leader in a company who is working […]

The construction of the first Center for University-Industry Cooperation (FIEK) of Hungary has been completed in Győr. The new complex implemented with the cooperation of Audi Hungaria, Széchenyi István University (SZE) and the Municipality of Győr, will be transferred into the possession of the teachers and students in order to work on joint research and […]

ExxonMobil expressed its thanks to its partners and oldest colleagues for the past fifteen years' achievements in Hungary in the framework of a ceremonial event. The Budapest business service center of the US-based company, whose employee number has grown five-fold since its opening in 2004, mainly provides financial and controlling assistance to the parent company, […]

TLC Kft., which belongs to the German Sennebogen company, is building a new plant in Hungary. As an expert in welded heavy steel structural component production, TLC is investing more than EUR 30 million in capacity expansion and machinery modernization, which will also involve the creation of 80 new jobs. The Germany-based family-run business of […]