The Hungarian pharmaceutical company Gedeon Richter Plc. presented its results for the year 2022 this Tuesday. The report caused a price drop on the stock market, as it turned out that the always massively profitable company turned loss-making in the last quarter of the year (due to the special tax and the exchange rate change). […]
Companies in many countries around the world, including Hungary, are threatened by a significant proportion of employees quitting their jobs, according to a Deloitte survey, the findings of which were published in a statement on Monday. The consultancy firm pointed out that in Hungary, the situation is similar to international trends, with 57% of domestic […]
The earnings expectations and investment intentions of micro, small and medium-sized enterprises in Hungary improved slightly in November last year compared to the previous quarter, while their sales forecasts stagnated, according to the latest survey of the K&H SME Confidence Index. According to a K&H statement sent to MTI on Monday, the survey summarizing expectations […]
ADVANTAGE AUSTRIA is the Austrian Federal Economic Chamber's external trade agency in charge of trade development and Austria's largest provider of foreign trade services. The new head of the organization’s office in the Hungarian capital, Philipp Schramel tells Diplomacy&Trade about the tasks performed – and services provided – by the Budapest office. “We have three […]
Bácska-Logistik of Baja, S Hungary, has won a grant of almost HUF 300 million for the construction of a new gas station and a self-service restaurant exclusively for trucks. The company received a grant of HUF 290.5 million from the Széchenyi 2020 program for the investment, which cost a total of HUF 437.8 million, with […]
Kayakfirst Ltd., a manufacturer of sports equipment for the indoor practice of the sport of kayak canoeing, has expanded its capacity in the southeastern Hungarian city of Szeged with a grant from the European Union. József Weimper, who founded the company and is an active kayaker himself, said at the Friday event to present the […]
KOSTAL Group, a German family-owned company, opened its new sustainable flagship office in the Hungarian capital, bringing a new way of working into the KOSTAL Family, the Hungarian Investment Promotion Agency (HIPA) reports. The company's EUR three million training program was supported by the Hungarian state with EUR 1.56 million through HIPA. The new business […]
As result of the negative economic effects also in connection with construction industry and shrinking markets the building insulation materials firm Masterplast's sales decreased by 17% in Q4 compared to the base period, the company has reported on the website of the Budapest Stock Exchange. Despite that, during base quarter, Masterplast with strategic inventory had […]
Qatar Airways, the World’s Best Airline is now the Global Partner and Official Airline of Formula One (F1), the pinnacle of motorsport and the world’s most technologically-advanced racing series. Qatar Airways and F1 will be partners through the 2027 season, bringing thrills and exciting speeds to fans globally, the airline has announced. In addition to […]
Founded in 2008, ODD Consulting Ltd. has expanded its team on the third floor of the "A" category CityZen office building in Budapest, which has an excellent BREEAM rating, so the building on Váci Road has reached 100% occupancy, according to a statement by ConvergenCE investors, the owner of the office building. ODD Consulting has […]
In 2022, with a rental revenue of EUR 15.54 million, the Budapest industrial park Graphisoft Park achieved a pro forma net result of EUR 6.02 million, which is more than EUR 400,000 higher than the forecast published last November and 24% higher than our previous year's result. According to the company’s quarterly report published on […]
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 […]
