Listed building materials maker Masterplast had first-half after-tax profit of EUR 5.2 million, improving from a loss of EUR 4.6 million in the base period, an earnings report released ahead of the opening bell on Thursday shows. Despite the challenging environment, Masterplast Plc. posted one of the strongest first-half performances in its history this year. […]
The Hungarian Competition Authority (GVH) has cleared the acquisition of Sofidel's private-label paper products business in Hungary by Vajda-Papír, Hungary's biggest maker of hygienic paper products, Vajda-Papír said on Wednesday. The watchdog established that the merger would not reduce competition on the affected markets to a significant degree. The transaction is expected to close when […]
Hungarian oil and gas company MOL announced on Tuesday the expansion of its Plugee network of EV charging stations with European Union support. Mol Plugee, the Mol Group’s electric mobility service provider, is establishing and developing ultra-fast charging infrastructure at nine Mol charging stations in Hungary; the company has secured 396 million forints in funding […]
The US-owned energy equipment manufacturing and services company GE Vernova is upgrading its base in Veresegyház, on the outskirts of the capital. According to the announcement, the upgrade includes a large-scale solar park development, the installation of new production lines, and the commissioning of high-performance, precision machinery. A solar farm is being built at the […]
Appeninn Asset Management Holding Public Limited Company, based in Budapest, has informed investors in an extraordinary announcement on the website of the Budapest Stock Exchange that the Polish project companies owned by Appeninn Project-EGRV Ltd. have signed a loan agreement with Erste Group Bank AG. The purpose of the loan agreement is to finance the […]
Japanese car maker Suzuki is set to invest HUF 76 billion into manufacturing of electric vehicles and battery packs at its base in Esztergom, the Hungarian Minister for Economy and Energy István Kapitány said in a social media post on Friday. The minister noted that, along with Prime Minister Péter Magyar, he met Toshihiro Suzuki, […]
Business and consumer sentiment in Hungary improved in July, a monthly gauge by economic research institute GKI shows. GKI's business confidence index rose by three points and the consumer confidence index climbed by two points, edging into positive territory, chief researcher Raymund Petz said. He acknowledged the advance of the business sentiment index in April, […]
MOL Plc. has notified the capital markets on the website of the Budapest Stock Exchange that according to Act XVIII of 2026 on the amendment of certain laws required for access to European Union Funds, non-university related public interest trusts performing public duties (hereinafter: KEKVA) shall be dissolved by July 31, 2026. "According to the […]
Provident Financial Ltd. has reached another milestone: it has officially opened its 20th customer service center in Hungary, located in District IX, which is also the company’s second customer service center in Budapest. The company says that thanks to the new customer service center, residents of South Pest and the surrounding metropolitan area can access […]
Based on May data from the Hungarian Central Statistical Office (KSH), there are no signs of a turnaround in the construction industry yet: production volume fell by 10.7% year-on-year and by 6.5 % compared to the previous month. However, according to the local unit of Italian building materials manufacturer Mapei, the statistics do not yet […]
Hungary's largest lender, OTP Bank Plc. announces that it signed a share purchase agreement to acquire 100% of the shares of Luminor Holding, the parent company of Luminor Bank, operating in the Baltic region. In an extraordinary announcement, OTP Bank Plc. said on the website of the Budapest Stock Exchange that the shares of Luminor […]
Nestle Hungária has confirmed it will shut down production at its factory in the Diósgyőr area of the city of Miskolc (NE Hungary) by year-end because of a decline in demand for seasonal chocolate figurines. Staff were informed of the decision early in July, Nestlé Hungária said. Talks on the sale of the factory and […]
Nestlé has finished a HUF 900 millin upgrade of the road connecting to its plant in Bük (NW Hungary). The company widened a more than half-kilometer section of the road and built dedicated lanes for lorries and buses. The entire project took seven months to complete, and the new road will be opened to public […]
Hungary is reopening its doors to the film industry as the registration limit for tax rebates imposed by the previous government has been lifted, Ervin Nagy, the deputy state secretary for culture, said in a video posted on social media on Thursday. The registration limit for tax rebates was a cap imposed in 2025 by […]
Listed Hungarian insurer CIG Pannonia has signed a blanket purchase agreement on the acquisition of the Czech and Slovak businesses of YOUPLUS Assurance, based in Liechtenstein, the company said in an announcement on the website of the Budapest Stock Exchange. The acquisition will provide a "stable foundation" for CIG Pannonia's entry onto the Czech and […]
