In 2023, Hungarian society is facing an uncertain economic environment with financial difficulties, so the population is typically saving, saving and many are changing jobs in the hope of better earnings. Hungarians are divided on the economic outlook for this year, according to a representative survey by the insurance company Generali Biztosító. 51% of respondents […]

K&H Bank's profit after tax decreased by 10% to HUF 67.6 billion in 2022, Attila Gombás, head of K&H Bank's financial division, said at an online press conference on Monday. He pointed out the decline was mainly due to the fact that their operating costs increased more than revenues, and the impact of special taxes […]

The main challenge for players in the Hungarian new car market since the end of last year is no longer a shortage of production capacity, but a decline in demand, Peugeot's brand director, Zsófia Bálint told MTI. She recalled that a year ago, sales were still constrained by a shortage of spare parts, and the […]

Gyermelyi Plc. inaugurated a new mill northwest of Budapest on Friday with an investment of more than HUF 6.5 billion, creating the largest single-site milling enterprise in Hungary. The Hungarian government provided HUF 1.7 billion, that is, over a quarter of the invested amount, in non-refundable state funding. The new mill is capable of grinding […]

With new investments worth nearly HUF 70 billion, a logistics and distribution center will be set up by German giant Bosch and the manufacturing capacity of its site in Miskolc, NE Hungary will be extended, the Hungarian Investment Promotion Agency reports. Bosch Group is known for being an exceptionally active investor in Hungary: it pumped […]

Hungarian freight forwarding and logistics firm Trans-Sped Kft. celebrated the inauguration of its brand-new logistics hall in Nagytarcsa. The investment is part of a seven-year development plan that mobilizes EUR 23 million and creates 257 new jobs. The Hungarian state covers 30% of the investment costs. Seated in Debrecen, fully Hungarian-owned Trans-Sped Kft. has been […]

MOL Group announced its financial results for Q4 and full year 2022 on the website of the Budapest Stock Exchange. Despite the unprecedentedly turbulent external environment, MOL Group generated USD 1.074 billion in the fourth quarter of 2022, bringing full-year EBITDA to USD 4.702 billion. Upstream and Downstream together provided 95% of this result in […]

Gedeon Richter Plc. and Mithra Pharmaceuticals have announced that they signed a license agreement for the commercialisation of Donesta®, a novel product candidate for the treatment of post-menopausal symptoms, according to a statement on the website of the Budapest Stock Exchange. The completion of the agreement follows the signing of the Binding Term Sheet by […]

Belotti Ltd., a company specializing in the construction of industrial floors, is building a factory hall of 600 square meters in Szekszárd, southern central Hungary with 50% support from the Economic Development and Innovation Operational Program Plus. The facility, which will be built as an extension of the company's existing 400-square-meter warehouse and production hall, […]

The turnover of Starschema Ltd. reached HUF 7.7 billion last year, an increase of 55% compared to 2021, the IT company has told MTI. The domestic market leader in data analytics and data visualization has boosted its growth rate despite the unfavorable economic environment, closing with a 20-25% increase in previous years, it said. This […]

PowerQuattro Plc. has developed a new railway safety device, which has received more than HUF 294 million in non-refundable EU funding for the project under the Széchenyi 2020 program, the company told MTI. The research and development project, which was carried out over a period of two and a half years, involved the development of […]

The new turning shop of Fábafém Ltd. in Mezőberény, SE Hungary, equipped with turning machines, has been completed with an investment of HUF 450 million. As MTI reports, Fábafém Ltd. in Békés county won almost HUF 314 million from the EU's Economic Development and Innovation Operational Program Plus (GINOP), which it supplemented with around HUF […]

The Komárom-based cleaning products manufacturer Well Done Ltd. has invested more than HUF 1 billion in environmental protection projects, including a heat pump system to replace gas consumption and the production of recycled bottles for packaging its products, the managing director of the Israeli-owned company told MTI on Friday. According to Zsolt Stefankovics, the company […]

German automotive parts and equipment supplier Robert Bosch GmbH increased its turnover and improved its profit in 2022, according to a report received by MTI on Thursday. According to the preliminary figures, Bosch Group sales totaled EUR 88.4 billion, an increase of 12% – or about 10% excluding currency effects – compared to the previous […]

Despite the economic challenges, 78% of Hungarian CEOs do not plan to cut staff and 97% do not plan to reduce employee compensation in the next 12 months, a partner of PwC Hungary's tax advisory business said at a press conference in Budapest on Wednesday. According to Barbara Koncz, the Hungarian CEO survey, which was […]