A significant rise in food prices in Hungary could shift demand towards lower quality products. The supply of quality meat products may fall and lower quality products may appear in shops, Hungarian meat industry players say. Average inflation in Hungary was 23.1% year-on-year in November, according to Eurostat's Harmonized Index of Consumer Prices (HICP). Food […]
NEO Property Services, a subsidiary of AKKO Invest Ltd., has announced on the website of the Budapest Stock Exchange that it reached yet another milestone by entering the general contracting market in large residential projects. NEO’s first large general contracting work is the first phase of the 164-apartment Le Jardin housing complex, which may be […]
Celebrating its 75th business anniversary, Canada-based CAE Inc. has announced to add substantial R&D capacities to his Hungarian operation. The company that develops simulation systems in defense, civil aviation and healthcare will create dozens of new jobs under a nearly HUF 3.5 billion project. Founded 75 years ago, one of Canada’s largest aviation firms, CAE […]
The Hungarian pharma company Gedon Richter’s partner AbbVie has announced that the U.S. Food and Drug Administration (FDA) has approved VRAYLAR® (cariprazine) as an adjunctive therapy to antidepressants for the treatment of major depressive disorder (MDD) in adults. Supported by clinical data demonstrating efficacy and well-established tolerability, this additional indication provides a new option for […]
One of Hungary's biggest sandwich makers, Khell-Food is to be acquired by Orkla Foods of Norway. If the Hungarian authorities agree, the deal could be completed in the first quarter of 2023. Orkla Foods Europe will acquire all the shares of Hungarian sandwich maker Khell-Food, ESM Magazine reports. Khell-Food was founded in 1992 and sells […]
The consortium formed by ANY Security Printing Company PLC and the Hungarian Banknote Printing Shareholding Company has signed a contract with the National Tax and Customs Administration of Hungary for the production of excise and tax stamps for another two-year period, according to a communiqué published on the website of the Budapest Stock Exchange. The […]
Continental is a technology company with more than 190,000 employees around the world, develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transportation. In Hungary, the company operates six factories, four R&D […]
Hydro Extrusion Hungary Ltd. is continuing its automotive investments in Hungary and is increasing the extrusion capacity of its Székesfehérvár plant, SW of Budapest, with a EUR 35.7 million (HUF 14.6 billion) development, the company informed the state news agency MTI on Thursday. The company said the development will ensure the company's future growth potential […]
RAVAK has now been around for more than three decades and has managed to build up the largest bathroom furnishing manufacturer in the Czech Republic. István Pintér, Head of Marketing at RAVAK Hungary Ltd. tells Diplomacy&Trade, among other things, about the main milestones in the company's development and expansion and the newly built premises created […]
The main objective of the Cseh-Magyar Üzleti Klub (Czech-Hungarian Business Club), established in 2004, is to develop bilateral business relations and promote cooperation between Czech and Hungarian businesses. In addition, the Club aims to create a forum for its members – be they companies or individuals – to deepen their cultural and human ties in […]
As a result of an investment of some EUR 45 million, Nissin Foods substantially ramps up its manufacturing and logistics capacities at its Kecskemét site. Storage space and production volume of the Japanese instant noodle producer will be increased and 50 new jobs will be created. About 7% of the investment cost are covered by […]
CzechTrade is the state export promotion agency of the Ministry of Industry and Trade of the Czech Republic. Its aim is to develop international trade and cooperation between Czech and foreign companies. The Director the agency’s Budapest office, Dóra Egressy tells Diplomacy&Trade about the scope of their activities in Czech-Hungarian business relations. As the Director […]
Grand Tokaj, the most important wine producer in the Tokaj-Hegyalja wine region, expects an increase in turnover in the run-up to the holidays and stable profits in the longer term. The company's CEO, László Rábai told the state news agency MTI that by the end of December, revenue could reach or even exceed HUF 3 […]
Runaway inflation, rising energy prices and changing audience habits are posing extreme challenges for cinemas, including Cinema City. However, the country's biggest cinema chain has no plans to cut the number of screenings, but expects overheads to rise further after January, the business news site napi.hu reports. There are currently no plans to raise prices […]
Following the finalization of their contract with the Hungarian oil and gas company Mol, the Polish Orlen Group has entered the Hungarian fuel market and will operate a total of 143 domestic service stations, the company said in a statement. 79 of the stations are already owned by Orlen, but for the time being they […]
