American technology has been leading the world for decades. Giants such as
General Electric (GE), Microsoft, Apple, HP and others have contributed much to the world and represent a huge added value. And spend billions of dollars for R+D and marketing to defy Asian competitors.
Growth prospects for the European economy are showing improvement in 2015, which creates greater business confidence in office tenants. This is already having an impact on the demand for offices, which increased by 4% year-on-year. The tightening supply of prime office space in Europe is causing prime rents to accelerate.
As the private investments' market heats up in Europe, owners of venture capital (VC) firms and private equity (PE) investors try to find good partners in Hungary too. Transactions happen every month and a good sign is that they happen not in the IT sector only but in the business products and services segment as well.
Neumann Society (NS), a transatlantic non-profit organization working to foster innovation among Hungarians and other Europeans in Silicon Valley announced the opening of Neumann House, its physical headquarters and community space in Redwood City, California on June 1, 2015.
After two years, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) has again held inspections in Hungary. A representative of the FSIS audited the monitoring system of Hungary’s animal-based food producers.
Nowhere in Europe is it this conspicuous that only those with good relations with the government can sell tobacco products. Hungary could be subjected to a commitment procedure in the near future, portfolio.hu quotes a Hungarian blog.
Hungary’s no-work Sunday law cost more than 2,000 people their jobs in commerce by the end of April 2015, the country's Central Statistical Office (KSH) data suggest. Additionally, the number of overtime hours rose to five-year highs.
As of November 1 this year, only two companies will be allowed to sell tobacco products directly to Hungary’s national tobacco shops. Portfolio.hu says the new legislation practically squeezes out all other players and wholesalers from this market.
The last private gas provider for residential consumers on the Hungarian market, Tigáz has given up its household gas provision business. Recently three other large providers did the same after accumulating heavy losses due to government decrees.
In an historic return, Spain's national carrier, Iberia, and its low-cost subsidiary, Iberia Express, have launched a six-days-a-week seasonal service between the capitals of Spain and Hungary, also facilitating access from Budapest to other cities in Span and Latin America.
South Korean tire maker Hankook has completed the third phase of a 313 million euro (HUF 4 billion) investment project in Hungary, in which it has expanded the production capacity of its local plant and added 950 jobs, portfolio.hu reports.
Podravka Group realized HRK 92 million net profit in 2014, mostly owing to strong growth of the profitable margins in the segments of food and beverages. The company is expanding in Hungary and taking further steps to strengthen its position in the Central European region.
The Croatian bakery chain Mlinar is a relative newcomer in Hungary. Seven outlets have been opened in Budapest. The company planes to enlarge its market position, mainly in the capital via franchise agreements requirement, since it can offer to every franchisor a proven business model, know how, logistic and marketing support.
Just like last year, Budapest is ranked 17th in the world according to the International Congress and Convention Association (ICCA), which lists the number of international events complying with the organisation’s criteria. Hungary is 31st among the countries.
It was 65 years ago on this day that the new airport of the Hungarian capital commenced operation. On May 7, 1950, a Li-2 passenger aircraft flew to Ferihegy from nearby Budaörs Airport. This marked the beginning of civil aviation at Budapest Airport.
