Legrand, a world leader in the manufacturing of products and systems for electrical installations and information networks in terms of sales, has been present in Hungary for close to three decades through its acquisition, in 1992, by way of a privatization deal of the Hungarian Kontakta company, which had been operating in Szentes, SE Hungary […]
BUX, the stock index of the Budapest Stock Exchange (BSE) closed the first trading week of 2022 with a rise, closing at 5,956.74 points on Friday, up 2.44% on the previous week, or 1,236.03 points. The turnover of the stock market was HUF 52.44 billion, up from 24.88 billion in the previous four days of […]
Duna House Group reports having reached record volume levels in Q4 2021. Franchise real estate brokerage grew by 29%, own office real estate brokerage by 39% and loan brokerage by 74% on a year-on-year basis. In Hungary, the residential real estate market performed in H1 2021 at levels unseen in the last 10 years, which […]
Early this year, the French multinational healthcare company Sanofi announced the establishment of EUROAPI, a future leading European company dedicated to the development, production and marketing of active pharmaceutical ingredients (API). The standalone company will combine Sanofi’s API commercial and development activities with six of its European production sites, one of which is in Újpest, […]
The Hungarian real estate development firm Futureal Investment Partners has acquired three properties totaling nearly 70,000 square meters, two shopping centers and an office building in Poland, the real estate investment and asset management company announced in a statement sent to the state news agency MTI on Wednesday. The company also acquired the 30,300 sqm […]
TÜV Rheinland Intercert Ltd., an internationally renowned technical testing, inspection, surveillance and certification company, has completed a multi-million-euro investment in the last two years. Last year, the company moved to new, larger and more modern premises, and a new managing director has been appointed as of December 1, 2021. The new head of the company, […]
The French-Hungarian Chamber of Commerce and Industry (CCI France Hongrie) celebrated its 30th anniversary in 2021. On this occasion, the President, László Károlyi and the Director, Ágnes Ducrot talked in the December issue of Diplomacy&Trade about the chamber, the anniversary and the services the organization offers to its members and partners. The Chamber's website says: […]
The stock index of the Budapest Stock Exchange (BSE), the BUX, closed the year at 50,720.71 points on Thursday, with a turnover of HUF 6.6 billion, up 8,613 points, or 20%, in 2021. The annual turnover of the BSE is estimated by the state news agency MTI to have exceeded HUF 3,360 billion this year, […]
Schneider Electric is expanding its regional procurement center in Budapest, which has been operating since 2017, and the number of employees there could rise from the current 150 to nearly 300 by 2023, the company told the state news agency MTI. According to the information, Daniel W. Bartel, the head of global procurement at the […]
The commercial part of Horizon Development’s LEED Platinum certified premium mixed-use Budapest downtown property; Szervita Square Building was purchased by Union Investment for one of its institutional real estate funds. The parties agreed not to disclose details of the purchase price. Ádám Irányi, Head of Investment Management Office, Europe, reflected on the benchmark deal by […]
Indian-owned automotive supplier Motherson Group has invested around EUR 16 million to develop its Hungarian sites in Győr, Mosonmagyaróvár, Mosonszolnok and Túrkeve, and has expanded its Kecskemét plant with a new hall. More than a third of the investment will be covered by Hungarian taxpayers due to a government decision. The new hall, which was […]
Surpassing all previous Hungarian auction records, Tivadar Csontváry Kosztka's painting ‘Mysterious Island’ sold for HUF 460 million at the Judit Virág Gallery's auction in Budapest. The Mysterious Island, painted in 1903, is one of Csontváry's most mysterious works, the meaning of the title has still not been deciphered by art historians. The painting reached a […]
MetMax Europe Plc., a metalworking company, has founded a new site in Töltéstava, NW Hungary. With a total investment of EUR 14.5 million retaining 132 jobs and creating 50 new ones, production equipment was purchased for the new plant and storage facilities of nearly 10,000 square meters. Anout one third of the investment costs are […]
The volume of construction output in Hungary in October 2021 surpassed the previous year’s level by 14.5% according to raw data. Output was 19.7% higher in the construction of buildings and 9.7% larger in civil engineering compared to October of the pandemic year 2020. According to data published by the country's Central Statistical Office, in […]
As a result of the development of about EUR 88 million, the large aluminium and energy company Hydro will create 70 new jobs by building a foundry with a capacity of 90,000 tonnes next to its Hungarian pressing plant. Hungarian taxpayers contribute to the costs with about EUR seven million according to a government decision. […]
