Erste Bank closed a successful first half of the year in Hungary with an operating profit of more than HUF 120 billion, up from HUF 93 billion in the previous year, and a nearly 60% increase in profit after tax to HUF 74.4 billion, Erste CEO Jelasity Radovan said at a press conference in Budapest […]
From June 2024, Anna Orosz has been appointed as Director of Corporate Affairs and Communication at HEINEKEN Hungária Breweries Plc. Over the past fifteen years, she has gained extensive experience in the field of corporate communications at Egis Pharmaceuticals, Lufthansa Systems,and Bristol Myers Squibb, among others. Anna Orosz was appointed as the new Director of […]
Mike James, a British specialist, became the CEO of Dreher Breweries on August 1, taking over the position from former manager Gábor Békefi, who announced in March that he was retiring from the company's leadership. The new CEO came to head Dreher Breweries from the UK and Ireland business of Asahi Europe & International. His […]
Liberty's technology partner, CISDI, will receive financial support for the major investment in the Dunaújváros steelworks, for which CISDI Engineering and the Chinese Export and Credit Insurance Company (Sinosure) have concluded a credit insurance agreement in principle. The agreement covers an amount of EUR 1.3 billion and paves the way for the financing of Liberty's […]
Romanian courier service company Sameday has acquires the Pactic group, the transaction has been approved by the relevant authorities. Pactic, based in Budapest, is a company providing integrated logistics services, which handled around 3.5 million deliveries in 2023. "We believe in borderless delivery services that provide the same high-level experience to customers in Romania, Hungary […]
The OTP Group closed the sale of OTP Bank Romania and other Romanian subsidiaries with the buyer Banca Transilvania (BT). The transaction was approved by the Romanian Competition Authority and the Romanian National Bank. The purchase of OTP Asset Management by Banca Transilvania is in the final approval process. In February of this year, the OTP Group and Banca Transilvania announced […]
OXO Technologies merges with 3TS Capital Partner after acquiring majority ownership in the Finnish private equity and venture capital firm. Based on the agreement, OXO Technologies can first acquire a minority stake by purchasing shares after financial and legal due diligence is completed. Majority ownership can be acquired next year, according to the announcement, the […]
As a financial and strategic investor, the Hungarian state designates the development directions of Budapest's Ferenc Liszt International Airport, National Economy Minister Márton Nagy said at a press conference in Budapest on Tuesday. In the minister's view, even with a conservative estimate, the airport can reach an annual passenger traffic of 20 million by the […]
The Hungarian-Japanese Economic Club (MJGK) was founded in 1971 to provide information, events and networking opportunities for companies and individuals interested in improving economic cooperation between the two countries. The current President of the Club, Dr. László Urbán, who assumed this position at the beginning of last year, summarizes to Diplomacy&Trade the current activities of […]
The Budapest office of the Japan External Trade Organization (JETRO) looks back at the history of over three decades now. The office’s General Director, Yasunari Miyauchi tells Diplomacy&Trade how the organization helps widening Japanese corporate presence in Hungary and promoting trade and investment between the two countries. The Japan External Trade Organization is a government-related […]
The Zwack Unicum Plc., the biggest player in Hungary’s spirit market, had total gross sales of HUF 36 938 million in the 2023-2024 financial year – a year-on-year increase of HUF 1,574 million (4.5%). Net sales (sales revenues excluding excise tax and public health product tax [NETA]) were HUF 22 496 million, a year-on-year increase […]
The private healthcare services group Doktor24 Medicina Plc. expects a turnover of HUF 16 billion this year, compared to HUF 14.5 billion in 2023, the company said after founding owners János Kóka and Róbert Lancz bought out financial investors and decided to make improvements. It currently employs around 1,100 staff and contributors, including 700 doctors […]
Airport Service Budapest Plc. (AS Budapest) and Menzies Aviation Hungary Ltd. will merge their activities to provide ground handling, cargo and lounge services at Budapest’s Ferenc Liszt International Airport as one company, pending approval by the competition authority, in order to provide more efficient and competitive services, AS Budapest told MTI. AS Budapest Plc. acquired […]
A consortium of financial investors, which also owns the Czech parcel delivery service Packeta, has bought the sector's competitor Foxpost from its Hungarian owners, the parties informed MTI on Wednesday. According to the information, the Wallis Group and Trueway (formerly Finext) sold the operator, which was the first player in the Hungarian parcel delivery market, […]
The Japanese automaker Suzuki plans to introduce five electric models by 2030 as part of the green transition of the automotive industry, and Magyar Suzuki is aiming to have the Esztergom plant participate in the production of these models, said Magyar Suzuki Plc. CEO Masato Atsumi at a press conference in Budapest on Wednesday. Assessing […]
