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.

Hungarian fuels group MOL has entered Norway by acquiring 100% ownership in Ithaca Petroleum Norge (IPN) from Ithaca Petroleum Ltd. for USD 60 million to extend its presence in the North Sea region and enhance its international exploration portfolio.

Apollo Tyres Ltd. will receive a job-creation training subsidy of HUF 606 million (cca. EUR 2 million). The Indian company is to spend the amount on providing Hungarians with vocational training in tire manufacturing between May 2015 and December 2019.

The volume of Hungary’s construction output grew by 3.2% month on month in February 2015, but the fall in orders data suggest that regardless of the strong start this year the floor will soon fall from under the sector, the business website portfolio.hu reports.

Budapest Airport was declared the winner of the ‘Best Airport in Eastern Europe’ award by British aviation analysts Skytrax. The award was received by Péter Huszka, chief operating officer for Budapest Airport, at the Passenger Terminal EXPO 2015 in Paris.

The EU has, at least temporarily, blocked Hungary’s EUR 12 billion nuclear power station deal with Russia as Euratom refused to approve Hungary’s plans to import nuclear fuel exclusively from Russia. Other parts of the deal are also under investigation.

The National Bank of Hungary suspended the brokerage licence of the Hungarian Quaestor on Tuesday, citing regulatory shortcomings, and said the firm may also have issued many more bonds than permitted under its issuance program, the Reuters reported.

The Hungarian government and UNICEF announced this week that they agreed in principle to establish UNICEF’s first-ever Global Shared Services Center in Budapest. It will conduct a broad range of UNICEF’s financial and human resources operations worldwide.

Hungarian Prime Minister Viktor Orbán has announced that his government and the European Bank for Reconstruction and Development (EBRD) will seek to acquire 15-percent stakes in the Hungarian affiliate of Austria's Erste Bank.

Hungary’s ruling Fidesz-KDNP caucus has authorised the government to launch the national utility service provider in March, said Fidesz caucus chief Antal Rogán on Thursday. The company will first offer natural gas and later electricity services, as well.

Canada-based diversified global manufacturing company Linamar has set up a new factory facility with a EUR five billion investment in Orosháza, Hungary, 200 kilometres southeast of Budapest. The EU supported project creates 150 new jobs at the company.