Hungary, Serbia and China signed an agreement on the modernization of the Budapest-Belgrade railroad on Wednesday. It will be part of a transit route to allow the fastest transportation of Chinese goods form Greek harbors to Europe.
Hungary, Serbia and China signed an agreement on the modernization of the Budapest-Belgrade railroad on Wednesday. It will be part of a transit route to allow the fastest transportation of Chinese goods form Greek harbors to Europe.
Hungary’s state-owned power company MVM and Russia's Nizhny Novgorod Engineering Company Atomenergoproekt have signed three implementation agreements for two new 1,200 megawatt nuclear reactors to be constructed at the Paks power plant.
Jost Lammers, the chief executive officer of Budapest Airport received a high-ranking accolade from the Hungarian National Association of Entrepreneurs and Employers. He was named “Entrepreneur of the Year” at an award gala held at the Palace of Arts.
The Hungarian unit of Japanese carmaker Suzuki Motor Corp returns to two-shift production this December from one shift, CEO Ryoichi Oura has announced, adding that the serial production of the new Vitara model will be launched in January next year.
In recent years, companies have undergone a transformation, adapting to the changing market conditions. The role of information technology has also been transformed, it has become a “public utility”, which is essential for the functioning of companies.
The Hungarian viticulture company SmartVineyard finished 8th among the 20,000 competitors participating in Intel's prestigious Global Challenge competition in San Francisco, California, earlier this month.
Home building seems to start taking off in Hungary, the latest release of the Central Statistical Office suggests. The trend which started in early 2014 continued and in the first nine months of the year 27% more new homes were built than in the same period of 2013.
The German multinational engineering and electronics company Siemens has opened a vocational training center at its Budapest headquarters. The facility is to accommodate up to 100 students: would-be welders and industrial engineers.
In the third quarter of 2014, the total Budapest office stock (including owner-occupied and speculative buildings) reached 3,219,380 square meters. The vacancy rate came in at 16.9% in Q3, down 0.7% quarter on quarter and 1.7% year on year.
Along with the publishing of its third-quarter earnings report this September, Citigroup also announced its intention to exit its consumer businesses in 11 markets, including Hungary. The sale the units is to be completed in 2015.
Flame Spray Hungary, an Italian-owned company engaged primarily in applying special coating on gas turbine and aircraft engine parts, has inaugurated a new 3,000-sqm hall, built with an investment of HUF 500 million, at its base in Szada, east of Budapest.
The number of new car registrations continued to rise in Hungary by 18% year on year in September. The favorable picture is slightly overshadowed by the fact that the market remains driven by company purchases and re-export, and not private buyers.
Exit from Hungary is not on Raiffeisen’s agenda. CEO Heinz Wiedner told a newspaper that Raiffeisen Hungary was profitable in every business segment in the first half of the year, but still incurred serious losses due to government measures.
The Hungarian government has launched a campaign calling for Hungarians to consume more apples after a predicted record crop of 780-800,000 tons and the EU embargo against Russia. One of the oppositon parties have come up with alternative proposals.
Professionals see significant opportunities in the financing of export activities of companies, says István Fetter, the Head of Trade Finance at CIB Bank Hungary. He also explains how his bank is able to provide prefential loans for different firms.
