Similarly to Turkish Şişecam Automotive, Italian Novation Tech, also engaged in the automotive sector, also announced its latest investment this week as well. Close to 35% of the HUF 1.3 billion investment cost is covered by Hungarian taxpayers through a government decision. The project that promises to create at least 50 jobs is also related […]
To counter the economic effects of the pandemic, competitiveness boosting programs have been gradually launched under government subsidy schemes (VNT) in Hungary which triggered developments in up to 30 different industries. Turkish Şişecam Automotive announced its latest investment this week related to the most recently initiated VNT3 incentive improving schemes which concern capacity expansion and […]
A new manufacturing center will be established by Wellis Magyarország Plc. for a EUR 5.7 million investment. As a result of the project to be implemented in Ózd, 100 new jobs will be created thanks to which the company can increase its global market share in the hydro massage pool segment. Over 30% of the […]
Hungexpo Plc. is expanding its international relations, establishing a network of partners in eighteen new countries, including Great Britain, Germany, Spain and France, the exhibition organizer announced on Friday. Hungexpo has so far been present in Italy, Turkey, Romania and Slovakia, and will now have a permanent representation in 22 countries. A statement by the […]
LogMeIn Inc., a developer of telecommuting and remote access software with annual sales exceeding USD 1.3 billion last year, will now operate as GoTo and plans to expand its workforce in Hungary by at least 20% this year, John Ford, GoTo's Hungarian managing director announced at a background meeting in Budapest on Wednesday. LogMeIn, which […]
Erste Bank Hungary has completed the first international bond auction in its history, issuing EUR 350 million worth of securities with a significant oversubscription of more than 40%, the financial institution informed the state news agency MTI on Wednesday. The statement said that the bonds, with a fixed interest rate of 1.25% per annum and […]
The real estate investment company S IMMO Hungary, which manages the property, will install more than 400 solar panels on top of the Blue Cube office building in the Hungarian capital. The company, which is also listed on the Austrian stock exchange, aims to minimize its ecological footprint, including the transformation of the Blue Cube […]
The largest investment ever made by tyre distributor MARSO Ltd., the firm's logistics center in Dunaharaszti, was inaugurated this week. MARSO Ltd, one of the largest tire distributors in Hungary and owner of the MARSOPONT service network, has taken advantage of the positive economic effects and processes of the past years. Especially in the field […]
Hungarian real estate developer and investor Wing Plc. has acquired the Airport City logistics park, a business facility located next to Budapest’s Ferenc Liszt International Airport. The park is situated on a nearly 12-hectare plot of land comprising 44,000 square meters of modern warehouses and 8,000 square meters of office space in six existing buildings […]
The Swiss multinational food and drink processing conglomerate corporation Nestlé has announced a new plan to tackle child labor risks in cocoa production. At the center is an innovative income accelerator program, which aims to improve the livelihoods of cocoa-farming families, while also advancing regenerative agriculture practices and gender equality. A cash incentive will be […]
A waterfowl further processing unit will be added to the plant in Mélykút, Southern Hungary and efficiency boosting investments will be carried out by Hunent Víziszárnyas Feldolgozó ('Waterfowl Processing') Plc. in value of HUF 6.5 billion, about a third of which is to be covered by Hungarian taxpyers through a government decision. As a result, […]
The Kistelek and Region Industrial Park, where an industrial wastewater treatment plant and sewerage network were built, was developed with EU funding of more than HUF half a billion, the municipality informed the state news agency MTI. According to the statement, the HUF 517 million investment has provided the industrial park, which is located next […]
A strategic cooperation agreement has been concluded by the Hungarian government and Autoliv Kft., the Hungarian subsidiary of the largest passive safety product manufacturing group in the world, the Hungarian Investment Promotion Agency reports. Autoliv, a business that was founded in Stockholm, Sweden nearly seventy years ago, develops, produces and distributes airbags, safety belts, steering […]
In line with its strategic plans, AutoWallis sales set new records in all areas in 2021. The Group is present in 14 countries in the region and tripled its figures from the previous year, selling more than 25,000 vehicles last year. Within this figure, the sales of the Retail & Services Business Unit more than […]
The stock index of the Budapest Stock Exchange (BSE) rose on rising turnover this week, closing at 52,675.9 points on Friday, 719.16 points or 1.38% higher than a week ago. Turnover on the stock market was HUF 77.70 billion, up from 52.44 billion last week, with the leading shares, with the exception of Richter, gaining. […]
