Gross electricity consumption in Hungary decreased by 2.3% in September compared to the same period of the previous year, according to a September report published by the Hungarian Energy and Public Utility Regulatory Authority (MEKH) this Friday. Maximum system load was also 3.8% lower than in September last year. The development of domestic production was […]
The Hungarian construction material production company's sales increased by 9% in Q3 compared to the base period – in economic recession fears environment – driven by strong sales performance related to insulation products. A statement published on the website of the Budapest Stock Echange highlights that the impact of increased inventory levels at higher prices […]
The Hungarian oild and gas company MOL has successfully closed the previously announced deal with Waldorf Production Limited (“Waldorf”) regarding the sale of its entire E&P portfolio in the United Kingdom. The company said in a statement that the divested offshore assets include MOL’s 20% stake in the Catcher field, a 50% stake in Scolty […]
The general level of trust in the construction industry among contractors in Hungary has improved slightly, but is still at a medium level, the CEO of Mapei Ltd., Béla Markovich said, at an online press conference presenting the results of this year's Construction Industry Confidence Index survey on Wednesday. This year's Construction Industry Confidence Index […]
In honour of Imre Kertész, the National Bank of Hungary (MNB) is issuing a silver collector coin with a face value of 7,500 forints and its non-ferrous metal version of 2,000 forints on the writer’s birthday to mark the 20th anniversary of his receiving the Nobel Prize. Imre Kertész (1929 -2016), Hungarian writer and translator, […]
The Swiss Contribution Fund Framework Agreement for the second period, including national co-financing, has been signed with Hungary for the use of nearly HUF 40 billion in funding. The agreement, signed on Tuesday in Budapest, will enable the implementation of developments over the next ten years and will contribute to Hungary's economic growth, the catching-up […]
The real estate market in Hungary in 2022 presents a changing picture: after a strong first and a slightly softer second quarter, the segment closed its weakest quarter ever this year, thanks to a subdued first autumn month, according to the latest Duna House barometer published on the website of the Budapest Stock Exchange this […]
The rental revenue for the first three quarters of 2022 reached EUR 11.59 million, and the pro forma net profit reached EUR 4.31 million, which is about 6% and 18% higher than the same period of the previous year respectively, according to the third quarter report published by the Budapest industrial park Graphisoft Park. The […]
The Hungarian light bulbs and electronics manufacturer Tungsram's bankruptcy negotiations with creditors were unsuccessful, and the company will be liquidated, a Tungsram representative confirmed to the Hungarian news portal Mérce. Tamás Mehlhoffer, the company's PR and communications director, said that Eximbank, the largest creditor, did not accept Tungsram's debt settlement offer, "and their vote is […]
Toolstyle Szerszám- és Alkatrészgyártó Kft.[Tool and Spare Parts Production Ltd.], based in Miskolc, NE Hungary, has won EUR 119.26 million EU subsidies under the Széchenyi Plan Plus program, which will help it move towards robot-driven production, the company told the state news agency MTI. According to the statement, the HUF 238.5 million investment will be […]
The stock index of the Budapest Stock Exchange (BSE) increased on an upward trend in the just three trading days of the week, closing at 42,629.68 points on Friday, 1,575.97 points – or 3.84% – higher than a week earlier, the state news agency MTI reported Sunday morning along with a brief analysis. The weekly […]
High energy prices are further complicating the situation for Hungarian farmers: this year's weather means that the season will bring less income due to a smaller than average harvest, but this can be offset by higher storage costs, Vg.hu reports. Ferenc Ledó, head of the vegetable production sub-department of the National Chamber of Agriculture, told […]
It is increasingly apparent that Hungary’s inflation is the steepest in the European Union. Although the official inflation indicators of the Baltic countries are higher than those of Hungary, EU data from the summer show that the core inflation indicator, which contains much less distorting effects, is the worst in Hungary. The inflationary pressure intensified […]
In the presence of the President of the Republic, Katalin Novák and the Commander of the Hungarian Defense Forces, Romulusz Ruszin-Szendi, the national flag was raised and lowered to half-mast on the anniversary of the invasion of the Soviet troops and the start of the crushing of the 1956 Revolution on Friday, in front of […]
13,617 new homes were built in the first three quarters of 2022 in the capital, 7.7% more than a year earlier. The number of dwellings to be built under construction permits issued and simple declarations was 25,984, 16% more than in the same period of 2021, the Central Statistical Office reports. In the first three […]
