Hungarian oil and gas group MOL has announced on Friday a new oil and gas discovery in the TAL Block it operates in Pakistan. This marks the 8th discovery in the block and Mol's 12th discovery in the country, portfolio.hu reports.

The European Bank for Reconstruction and Development's (EBRD) Board of Directors has approved taking a 15% stake in the Hungarian unit of Erste Group Bank, an EBRD spokesman is quoted by portfolio.hu as saying this Wednesday.

Luxury carmaker Mercedes-Benz has announced a HUF 185 billion (some EUR 595 mn) worth of investment at its Hungarian plant in Kecskemét. This amount already includes the EUR 250 mn to be spent on a new bodywork unit there.

Hungary's carbon-dioxide emission can be reduced by as much as 15,000 tons with the introduction of a new photo-voltaic plant that has been inaugurated near the southern Hungarian city of Pécs. It is an investment of HUF 4 billion (most of it EU funding).

The first full week-end this May will see the third Food Truck Show Budapest in the Kincsem Park horse racing venue. The main is to present food trucks offering the best quality meals and drinks to the audience who can also enjoy several horse races.

German engineering giant Siemens and French automotive supplier Valeo will manufacture engines for electric and hybrid cars. The venture will be headquartered in Germany with facilities in China, France, Norway, Poland and Hungary.

International financial software developer firm Misys has partnered with Dorsum, an innovative investment software provider in Hungary, to integrate online brokerage functionality in its Misys FusionBanking Essence digital channels software

The Central and Eastern European region has achieved a significant improvement in its desirability as a logistics location. 8 sites from the region have successfully made it to the top 20 list of most popular European locations - a 100% increase since 2013.

Hungary's ADMATIS Ltd. has designed and procured mechanical and thermal equipments for a high resolution Multi-Spectral Imaging Instrument, such as brackets for electronics (with radiators), thermal shields and baffles for the satellite Sentinel 2.

German carmaker Daimler will invest a further EUR 250 million at its Mercedes manufacturing base in Kecskemét, east-central Hungary by 2018. The company will invest in technology developments as well as expand its production capacity.

27 types of wine from 19 producers in Hungary's historical wine production region Tokaj will go under the hammer at the 4th Grand Tokaj auction this April. All 27 are special items that cannot be purchased anywhere else currently.

Following last year, when several tourism indicators hit new highs, this year also promises to be a record-breaking one in Hungary: dynamic growth experienced in the number of tourism nights by domestic guests and arrivals by foreign guests have also picked up.

Budapest Airport says it has achieved a unique triple success as it won the title of 'Best Airport in the Eastern Europe region' for the third consecutive year. The award was handed over at the ‘Passenger Terminal EXPO’ in Cologne, Germany.

The SPAR supermarket chain has been present in Hungary for 25 years. Austria SPAR International AG purchased a Hungarian chain of stores in 1991. The national network is now of 32 hypermarkets, 349 supermarkets and 75 franchise stores.

The European Commission has opened infringement proceedings against Hungary over the ban on loss-making in the retail sector, in the form of a Formal Notice, arguing that it may restrict the freedom of establishment for businesses.