Hungarian-owned Pek-Snack group, which makes frozen bakery products, had after-tax profit of HUF 619 million in 2025, up 5% from HUF 589 million a year earlier, the company told MTI. Revenue was HUF 12.7 billion, almost unchanged from a year earlier. Exports accounted for 42% of the total. Pek-Snack has an extensive franchise network. It […]
Hungary's seasonally-adjusted Purchasing Managers Index (PMI) stood at 51.5 points in June, rising from 50.2 in the previous month, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim) said on Wednesday. The PMI was over the 50-point threshold, signalling expansion in the manufacturing sector. Among the PMI sub-indices, the new orders index rose 3.7 […]
Zoltán Gazsi, the founder of the 'Day of Selflessness' initiative and former managing director of Eisberg Hungary, has passed away after a long illness borne with dignity. He appeared frequently in the pages of Diplomacy&Trade over the past 12 years. Zoltán Gazsi was 60 years old. Zoltán Gazsi graduated from the University of Agricultural Sciences […]
Braving soaring temperatures, thousands of revelers set off from outside the State Opera House on Saturday for the 31st Budapest Pride Community Festival march, a vibrant celebration winding through the heart of the capital. The event was also attended by the European Commissioner for Equality, Preparedness and Crisis Management, Hadja Lahbib. A float blaring music […]
Hungary has lowered its terrorism threat level from high to moderate, MTI quoutes a statement from the interior ministry this Thursday. The deputy director-general of counter-terrorism force TEK convened the Anti-Terrorism Coordination Committee, where experts reviewed the security situation and recommended the change, the ministry said in a statement. Interior Minister Gábor Pósfai subsequently approved […]
On the 35th anniversary of the Visegrád Declaration, the heads of government of the Czech Republic, Hungary, Poland and Slovakia met at the Royal Palace in Gödöllő, east of Budapest, this week and relaunched the Visegrád Four (V4) partnership among the four countries. Following the Hungarian parliamentary elections in April 2026, with high-level political cooperation […]
The ZalaZONE automotive test track, located in SW Hungary, will be re-nationalized from July at the latest, Márta Nagy, an MP of the governing Tisza Party said on social media on Wednesday, MTI reports. The ZalaZone is expected to be overseen by the Ministry of Science and Technology, although there is no final decision yet, […]
Hungary took 14th place on the 2025 International IP Index ranking of the US Chamber of Commerce, the Hungarian National Intellectual Property Office (SZTNH) said on Wednesday. Hungary has moved up one place in the ranking compared to 2023 and 2024, and is ahead of regional countries like Austria, Poland and Ukraine, SZTNH noted. Progress […]
Hungary’s GDP could grow by 1.5% this year and inflation could average 2.3%, ING Bank chief analyst Péter Virovácz said on Wednesday presenting the lender’s latest forecast. Péter Virovácz said GDP growth would be supported by consumption in 2025. By next year all segments of the economy could contribute to growth, bringing more balanced expansion […]
Hungarian Parliament passed legislative amendments on Tuesday to scrap motor fuel price caps. The amendments to the acts on the establishment of prices and the security stockpiling of imported crude oil and petroleum products were passed with 130 votes in favor, 36 votes against and five abstentions. Minister of Economy and Energy István Kapitány, the […]
The E.ON Hungária Group has commissioned a new 132/22-kilovolt transformer substation in Répcelak, W Hungary. The project, which was implemented with EU funding and cost approximately HUF 2 billion, improves the reliability of electricity supply for more than 15,000 customers in the northern part of Vas County. The investment was carried out as part of […]
Hungarian citizenship was sold to Canadians for tens of thousands of dollars with the knowledge and support of leading Hungarian politicians during the previous government, György László Velkey, state secretary at the foreign ministry, said on Facebook on Tuesday, outlining the findings of an investigation conducted by his office. Velkey announced last Friday that an […]
Hungary's national interest will always be a priority, and the government will advance its interests within its system of alliance, Foreign Minister Anita Orbán said in an interview ahead of the European Union foreign ministers' meeting in Luxembourg on Monday, adding: "Hungary will once again behave like a European country." She emphasized that at the […]
First-quarter sales of new farm machinery in Hungary rose 44% year-on-year to HUF 54.3 billion, a report by the Institute of Agricultural Economics (AKI) shows. Individual farms and agricultural cooperatives purchased new agricultural machinery and equipment worth HUF 54.3 billion during the first three months of this year, and spent HUF 24.5 billion on spare […]
According to K&H’s SME Confidence Index, labor market planning for the coming period among company executives is characterized by a wait-and-see attitude and heightened caution; they are striving for stability in workforce levels, while a decline is observed in salaries and fringe benefits, and wage growth expectations have fallen to levels not seen since 2021, […]
