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.
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.
