Real estate venture Duna House Group says its crisis-resistant model has exceeded expectations by returning to its previous growth trajectory in the middle of the COVID-19 pandemic. A report by the Group on the website of the Budapest Stock Exchange highlights that net sales revenue increased by 11%, cleaned core EBITDA (earnings before interest, taxes, […]
Diplomacy&Trade has recently published a special section on the occasion of the Czech National Day with special emphasis on beer. This piece about the Czech Republic being the second major hop producing country in Europe has been provided by the Czech Embassy. In the Czech Republic, there are three regions where hops are grown, of […]
Hungary's largest commercial financial institution, OTP Bank has announced on the website of the Budapest Stock Exchange that the sale of its Slovakian subsidiary, OTP Banka Slovensko. has been financially completed. According to the announcement, the transaction, based on the share purchase agreement signed with KBC Bank NV on February 17, 2020, has been financially […]
The Hungarian-Algerian Business Council was established in 2018, based on an agreement between the Hungarian Chamber of Commerce of Industry (MKIK) and the Algerian Chamber of Commerce and Industry. The objective of the Council is to increase the bilateral trade volume while developing economic relations between Hungary and Algeria and to provide business opportunities to […]
In the 3rd quarter of 2020, investments in Hungary decreased by 12% compared to the same period of the previous year and by 2.1% in comparison with the previous quarter. Based on raw data published by the Central Statistical Office, investments declined in most sections, however in relation with the pandemic situation in healthcare they […]
The American Diligent Corporation is bringing its new global R&D center to Budapest. The investment worth over EUR 31 million is said to create more than 300 high added value jobs. The company is a market leader among SaaS (software as a service) providers. This service assists managers in the public and private sector, as […]
Vajda-Papír, the leading Hungarian-owned manufacturer in the market of hygienic paper products, has announced the investment totaling HUF 16 billion investment at a digital foundation ceremony. According to the announcement, the investment project will help retain 600 workplaces and create 50 new jobs. The Hungarian government will provide HUF 5.5 billion, about a third of […]
The Hungarian oil and gas company MOL Plc. has announced that it has again qualified for inclusion in the Dow Jones Sustainability World Index (DJSI) in the Upstream & Integrated Oil & Gas category following the 2020 assessment process. A statement by the company says this is the fifth consecutive year that MOL has been […]
Despite the pandemic,the Hungarian energy service provider firm ALTEO continued to grow, reaching sales of nearly HUF 5.5 billion in the 3rd quarter of 2020. A quarterly report by the company says that since a significant portion of the profitability of ALTEO’s activities is less vulnerable to changes in the economic cycle, the principal focus […]
Swisscham Hungary, which is 25 years old this year, has recently planted 25 seedlings in the Népliget park in Budapest. This way, the Swiss-Hungarian Chamber of Commerce not only contributes to the protection of the environment and a sustainable future, but also strengthens the joint work with the participating member companies. A statement by the […]
The Hungarian business weekly HVG has prepared the list of the country's corporate entities with the highest revenues in 2019. The oil and gas group MOL continues to top the list of 500 companies but the largest anual revenue increase was produced by Audi Hungaria. According to hvg.hu, the combined sales of the 500 companies […]
As the first production unit of the SEMCORP Group outside China, a lithium-ion battery separator film plant will be established in the Debrecen South Industrial Park. According to a report by the Hungarian Investment Promotion Agency, the 97,000 m2 plant will start operations in early 2023, increasing the company's annual film production capacity by approximately […]
During the pandemic and economic crises, Clean CCS EBITDA at the Hungarian oil and gas group MOL strongly rebounded from the second quarter lows and came in at USD 610 mn in Q3 2020, only 12% lower than in the same period last year. According to a press release by the Group, this result brought […]
Magyar Telekom's consolidated after-tax profit increased by 50.9% to HUF 19.7 billion in the third quarter of this year, exceeding analysts' expectations, and sales increased by 1.8% to HUF 167.7 billion. In the first nine months of this year, Magyar Telekom's group-level sales remained unchanged at HUF 484.2 billion, and after tax profit decreased by […]
In the third quarter of this year, the Erste Bank Hungary made a profit. There was no need to make as many provisions, revenues also increased, for example, housing loans sold much better than expected, the news site napi.hu reports, Erste Bank's first nine months' results show the impact of the coronavirus epidemic. Between January […]
