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.
The Croatian government is urging talks on a secured loan to buy back shares of oil and gas company INA from Hungarian counterpart MOL, Croatian Economy Minister Ivan Vrdoljak was reported by portfolio.hu as saying.
Microsoft Corp announced on Thursday that it plans a "phased exit" from the town of Komárom, W of Budapest, where Nokia employs 1,800 people. The Hungarian arm of German carmaker Audi said they might be able to help those that will be laid off.
German car-maker Audi is to introduce a three-shift operation in the middle of August, this year at its plant in Gyõr, Northwest Hungary. The company says the reason for the change is growing demand for its premium models, especially the TT and the TTS Coupé.
RTL is prepared to "fight tooth and nail" against Hungary's advertising tax, the words of CEO of the most popular Hungarian commercial TV channel RTL Klub Dirk Gerkens is quoted by portfolio.hu from his interview with the Reuters news agency.
Recognizing difficulties on the real estate market in Sierra Leone, West Africa, the Hungarian firm TWD Investments Plc. - drawing on the knowledge of its owners about local conditions and the experience of its management - plans various projects in that country.
The China Smart Expo 2014 in Budapest aims to bring together Central and Eastern European enterprises with their potential Chinese partners. The exhibitions and trade fairs provide great opportunity to directly meet with the Chinese manufacturers.
The governing party Fidesz and the far-right nationalist Jobbik party have passed a bill on a new advertising tax to be imposed on media companies, publishers, billboard users and online advertisers. Experts claim the measure is politically motivated.
A biometric ID system has started operating at border control in Budapest's Liszt Ferenc International Airport. Zoltán Török, head of the Airport Police Directorate, said that the system operated on the departure side in order to ensure fast border control.
Air France-KLM is one of the most important airlines in Hungary. Since customer comfort in Business Class services is very important for both Air France and KLM. Therefore, there have been a lot of innovations in this field.
ING Investment Management, which was the third-largest on the Hungarian market in 2010 with HUF 1.2 trillion worth of funds managed, is winding up its local operation. The company’s foreign owner decided to cease operation of the Hungarian unit as of July 2014.
