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 […]
The Hungarian energy firm PannErgy has announced on the website of the Budapest Stock Exchange to its shareholders and the participants of the capital market the establishment of a subsidiary company. The statement says that on account of the changed energy market environment and the resulting improved ROI opportunities, PannErgy intends to place greater emphasis […]
According to virus researcher Miklós Rusvai, the most effective way to protect against the coronavirus and the flu pandemic, which is likely to be more intense this year, in addition to vaccinations, is to wear a mask, which is recommended in closed spaces and especially on public transport. Miklós Rusvai told ATV's Start program that […]
6,760 people entered Hungary on the Ukrainian-Hungarian border on Saturday, while 4,184 of those entering the country on the Romanian-Hungarian border said they had come from Ukraine, the National Police Headquarters (ORFK) told the state news agency MTI on Sunday. Of those who entered the country, police issued 353 people with temporary residence permits valid […]
Shell Hungary Plc. will restructure the operation of another 17 petrol stations: from November 2, these will be available only to its contracted corporate partners with euroShell fuel cards, the company said on its website on Friday. According to the statement, Shell is converting in this process five of its 193 service stations in Budapest […]
The Hungarian postal service company Magyar Posta is temporarily suspending the operation of 366 post offices in 210 municipalities to reduce energy consumption. At the same time, the company announced on Friday a collective redundancy plan affecting 300 employees in management and service areas, the state news agency MTI reports. Magyar Posta said that in […]
A lion figure made of hundreds of thousands of Lego blocks were placed on Clark Ádám Square on Thursday morning, Budapest Transport Center (BKK) told the state news agency MTI. They wrote that the lion is an important symbol for the people of Budapest, and the stone lions on the bridgehead of the Chain Bridge […]
Students, parents, teachers and their supporters formed live chain of about ten kilometers in the Hungarian capital Thursday morning at the initiative of the Unified Student Front in support of Hungarian teachers’ fight for decent pay and better working conditions, state news agency MTI reports. Katalin Törley, founder of the Tanítanék ['I would teach'] movement, […]
BME Suborbitals, a team of engineering candidates from the Budapest University of Technology (BME), finished 5th in their category and 9th in the overall ranking at Europe's most prestigious international rocket competition, the European Rocketry Challenge. The competition, organized by the Portugal Space Agency (Agência Espacial Portuguesa) and the European Space Agency, was held in […]
