Austrian-owned Erste Bank Hungary booked a first-quarter loss of HUF 5 billion as new rules required the lender to book the full-year windfall profit tax in Q1, chairman-CEO Radovan Jelasity said on Wednesday. Erste Bank had after-tax profit of HUF 20 billion in the base period, he noted. Retail lending stock rose 17% to HUF […]
Geology scholar and university professor Mihály Pósfai has been elected president of the Hungarian Academy of Sciences (MTA) for the next three years. The closed session at the 200th general assembly on Tuesday also elected MTA literature scholar Gábor Kecskeméti as secretary-general, while psychologist Ilona Kovács will take up post of deputy secretary-general. Deputy presidents […]
The Novohrad-Nógrád Geopark, in the border region between Hungary and Slovakia, has won EUR 3,951,000 in funding from the European Union's INTERREG program for supporting territorial cooperation, the managing director of the Nógrád Development Agency, Lilla Körmendy told MTI on Monday. She said the proposed UNESCO site, the Novohrad-Nógrád Geopark and its surrounding area, is […]
A compromise solution that benefits the Hungarian Academy of Sciences (MTA) and all members of the scientific community will be found, Prime Minister-elect Péter Magyar said on Monday, attending the 200th re-election convention of the MTA in Budapest. Péter Magyar told the press after delivering a speech at MTA's 200th general assembly that consultations were […]
Hungarian households’ net financial savings as a percentage of GDP stood at 4.6% in 2025, which continues to exceed the averages of regional and EU countries, the National Bank of Hungary (MNB) reports. Households’ net financial wealth continued to grow over the course of last year, reaching 117% of GDP by year-end. To ensure sustainable […]
For Cordia International SE, the developer of residential properties and seller of residential units, 2025 was a year of very strong operational performance, reaffirming the resilience of the company's strategy and the sustained demand for high quality residential developments across its markets. Tibor Földi, Chairman of the Board, Cordia International SE stated in a report […]
Balázs Horváth, a journalist for the Hungarian business news portal Economx, received the HUF 1 million grand prize in Provident Financial Ltd.’s “Provident Press Award for the Invisible” competition. The award, presented at a formal ceremony, was granted based on the decision of a professional jury to the professional who most authentically and effectively drew […]
The number of days it took homes in Hungary to sell after they were listed averaged 95 days in January-April, up from 84 days in the same period a year earlier, real estate broker Duna House said on Tuesday. This turn is also indicated by longer sales cycles and a shift in market conditions that […]
Katalin Karikó, the first Hungarian woman to win a Nobel Prize, will be awarded an honorary doctorate in Oxford in June and at two American universities in May, the Public Relations Office of the University of Szeged (SZTE) informed MTI on Monday. According to the announcement, Katalin Karikó, a professor at SZTE, will be among […]
Ball Corporation, a global manufacturer of sustainable aluminum packaging, is expanding its workforce at its recently acquired plant in Makó, SE Hungary, the company’s communications partner informed MTI. According to the announcement, the local company Ball Italcsomagoló Magyarország [Drink Packaging Hungary] Ltd. plans to hire more than forty new employees in the first phase, with […]
The jobless rate in Hungary for people between the ages of 15 and 74 stood at 4.5% in March, data released by the Central Statistics Office (KSH) on Friday show. The rate was up from 4.3% in March 2025, but down from 4.8% in February. In absolute terms, there were 219,000 unemployed in March. The […]
The Property Developers Roundtable Association (IFK) is hoping the new Tisza government’s economic policy directions will include a predictable and stable regulatory environment and is focusing on future professional cooperation with it, the association told MTI. IFK said development decisions are made several years in advance, so predictable and sustainable economic conditions are key for […]
Rába will not pay dividends and will allocate last year’s profit to retained earnings, the Győr-based vehicle manufacturer announced on the Budapest Stock Exchange’s website following its annual general meeting. The decision is in line with the proposal of the board of directors of Rába Automotive Holding Plc. The general meeting made this decision based […]
The number of new passenger car registrations in Hungary rose 10.8% year-on-year to 36,455 in January-March, data compiled by the European Automobile Manufacturers' Association (ACEA) show. Hybrid electric and plug-in hybrid vehicles accounted for 62% of sales, cars with petrol engines made up 20% and vehicles with diesel engines 9%. Fully-electric vehicles accounted for close […]
Hungary's commercial property market is past its cyclical low point, but weak economic growth is holding back a recovery and geopolitical uncertainty is weighing on outlooks, the National Bank of Hungary (MNB) said in a report on the market released on Tuesday. The report augurs an increase in the vacancy rates on the office and […]
