December 15, 2017 Friday
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Commerce
| December 13, 2017
Businessman László Baldauf, the founder of the CBA retail store chain in Hungary, has confirmed to the news agency 'Független Hírügynökség' that seven CBA stores (two of them in Budapest) would be taken over by the German retailer Lidl.
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Aviation industry
| December 13, 2017
Wireless internet availability has been significantly improved in passenger areas of Liszt Ferenc International Airport. The new system promises better coverage and a stronger signal, offering a multiplication of capacity to passengers using Wi-Fi.
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Tourism
| December 8, 2017
According to the trivago Rating Index (tRI), the southeastern town of Makó tops the list of Hungarian settlements as the town's hotels received the best reviews from travelers. Hungary was 13th in the ranking of European countries, MTI reports.
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Airline industry
| December 7, 2017
Traffic at Budapest Airport has broken another record, as the number of passengers exceeded 12 million by the end of November. Thanks to the dynamic growth, more than one million passengers used the terminals in November, for the first time ever.
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Airline industry
| November 30, 2017
Wizz Air, the largest low-cost airline in Central and Eastern Europe, announces that, following the acquisition of a number of take-off and landing slots from Monarch Airlines, it will increase its fleet at London Luton by two aircraft to a total of seven.
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Automotive industry
| November 17, 2017
The Indian-based automotive supplier Samvardhana Motherson Peguform (SMP) has established a bumper manufacturing plant in Kecskemét, E Hungary, in an area of 96,000 square meters. The greenfield development is to create about 500 jobs.
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Service center
| November 16, 2017
19 robots help the staff working in GE Hungary’s Budapest shared service center. By automating certain elements of financial, accounting, procurement, logistics, IT, and HR processes, GE aims to improve the quality and efficiency of administrative processes.
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Banking
| November 15, 2017
Following the successful operation of its first ATM in Hungary with the possibility of Bitcoin transactions (in Budapest), the Hungarian firm Shinrai Ltd. put into operation another such machine in Mosonmagyaróvár, NW hungary, close to the Austrian and Slovak borders.
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Construction industry
| November 14, 2017
In September 2017 and in the period January-September 2017, the volume of industrial sector output grew by 5.4% and 5.2% year-on-year, respectively. Since January 2010, the sector’s output has been up by more than 35%.
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Packaging industry
| November 9, 2017
Edelmann Hungary Packaging Co. Ltd. is upgrading its fleet of machines. With the more than EUR 10 million project, the German company can not only increase its capacity, but can also supply higher quality and added-value products.
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Construction industry
| November 9, 2017
Bodrogi Bau Ltd. saw the opening of its doors and windows and insulation material production plant in Szeged, SE Hungary this Thursday. Nearly HUF 500 million of the total cost of over HUF one billion was financed from EU funding.
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Agrarian industry
| November 8, 2017
As a result of the largest food industry project in Hungary recently, the grain processing plant of KALL Ingredients has been completed in Tiszapüspöki, eastern Hungary. The plant will process GMO-free maize purchased from Hungarian producers.
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Electronics industry
| November 7, 2017
The Infogroup Real Estate Development Group is building a EUR 11.5 million logistics center in the Tiszaújváros Industrial Park. The almost 17,000 sqm facility will be rented by the US-owned manufacturer of electronic products, Jabil Circuit Hungary.
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Telecommunications
| November 6, 2017
Telecommunications service provider UPC Hungary saw its sales of digital services boosted in the third quarter of 2017. During this period, UPC Hungary surpassed the 2 million subscriptions milestone and delivered an impressive revenue growth of 10,2%.
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Transport industry
| November 6, 2017
International express delivery world market leader DHL Express has opened a new 13,000-sqm Center at the Budapest Airport Business Park joining DHL's other two divisions, a DHL Global Forwarding and DHL Freight, which moved in 2013.
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Automotive industry
| November 3, 2017
Spinto Hungária Kft. is constructing an automotive tool factory in Miskolc. With the about EUR 19 million project, a unit manufacturing large tools will be established in Hungary, for the products of which there is huge demand throughout the region.
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Service center
| November 3, 2017
The Hungarian Investment Promotion Agency (HIPA) organized in Budapest the Hungarian Shared Services Gala, during which awards were given to top companies and managers of 2017 in three categories and the latest SSC market survey was published.
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Banking
| November 2, 2017
UniCredit Bank Hungary had a very successful year in 2016. As the Deputy CEO of the bank and Member of the Management Board, Marco Iannaccone explains, this profitable result has made it possible for the bank to extend its support activities to new areas.
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Real estate
| October 31, 2017
The international real estate consultancy firm Cushman & Wakefield has chosen Budapestas the new venue for its Portfolio Services Center (PSC) department. The new investment, supported by the Hungarian government, is expected to create 250 new jobs.
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Airline industry
| October 31, 2017
Hungarian low-cost airline WizzAir has launched flights to a new destination from Budapest: Agadir in southern Morocco. The airliner operates this flight twice a week with Airbus A320 aircraft. The first flight was fully booked as the plane left the Hungarian capital.
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Automotive industry
| October 26, 2017
Japanese tyre manufacturer Bridgestone had its HUF 85 billion forint (EUR 274 million) capacity-expanding investment project officially inaugurated in Tatabánya, west of Budapest this Thursday. It is expected to create 500 new jobs.
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Automotive industry
| October 20, 2017
The new plant of CSABAcast has been officially opened in Apc, E Hungary. It has been equipped with state-of-the-art technology and fleet of machines of the highest quality. Themanufacturing baseserves the expansion of the activities of the company.
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Medical industry
| October 19, 2017
World-leading global medical technology company, Becton Dickinson's (BD) new plant has been inaugurated in Tatabánya where the manufacturing of research reagents required for the production of medical products will be launched.
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Telecommunications
| October 19, 2017
Ericsson and Magyar Telekom have held a demonstration of the first 5G New Radio at the Ericsson R&D centre in Budapest on Thursday. The first implementation of its kind in Hungary achieved download speeds of 22 gigabits per second (Gbps).
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Construction industry
| October 17, 2017
According to end of summer figures by the Central Statistical Office, the volume of construction output in Hungary was 36.8% higher in August 2017 than the low base a year earlier. construction output grew by 9.8% in August compared to the previous month.
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Transport industry
| October 17, 2017
Knorr-Bremse Rail Systems, the German company manufacturing eailway brake and air systems had it new manufacturing hall in Budapest inaugurated this Tuesday. A training workshop was also presented at the company's premises in the Hungarian capital.
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Food industry
| October 16, 2017
More visual experience and more surprises are needed at Hungarian festivals to keep up with the competition on international level. That was the view shared by the participants of the recent Festival Season Valuation Roundtable organized by HEINEKEN Hungária.
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Logistics
| October 12, 2017
The first facility in the Páty Industrial Park has officially been inaugurated. The 23,000-sqm logistics centre was developed by Inpark and serves as a regional car parts distribution hub operated by logistics service provider Kühne+Nagel.
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Logistics
| October 12, 2017
As a result of the development implemented from EUR 28 million by Révész-Nyírlog Ltd., a more than 52,000-square meter logistics center has been established, supplemented with a warehouse hall, an office building and accessory rooms.
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Packaging industry
| October 10, 2017
German family venture Krones AG has announced the establishment of a plant that will manufacture pieces of food industry equipment in Debrecen, E Hungary, with an investment of close to HUF 15 billion, close to 40% of which is covered by the Hungarian government.
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Energy industry
| October 5, 2017
General Electric aims to double the volume of the products and services bought from Central-Eastern European SMEs, including Hungarian enterprises. The firm has approximately 6.000 suppliers in the region and its procurement value exceeds USD 1.7 billion.
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Automotive industry
| October 3, 2017
The Hungarian subsidiary of the Swiss Maxon, Maxon Motor Hungary Kft. will extend - with a cash subsidy from the Hungarian government - its electromotor plant in Veszprém with an investment worth some HUF 4.2 billion, and the project will create 102 new jobs.
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Transport industry
| September 22, 2017
The first two electric buses have been manufactured at the plant of the BYD Electric Bus and Truck Hungary Ltd. in the local industrial park in Komárom, west of Budapest. The Chinese company opened its Hungarian plant in April this year.
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Real estate
| September 19, 2017
South African real estate investment firm NEPI Rockcastle announced that, on September 15, 2017, it acquired all the issued shares of Aréna Plaza shopping center in Budapest through its subsidiary, Arena Property Ltd. for EUR 275 million.
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Engineering
| September 15, 2017
German multinational engineering and electronics company Bosch, the world's largest supplier of automotive components is to establish a new regional center for which the foundation stone was laid in the industrial park in Hatvan, east of Budapest this Friday.
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Food industry
| September 13, 2017
Coca Cola HBC has established Hungary's largest food industry warehouse in Dunaharaszti, south of Budapest with an investment of HUF two billion (appr. EUR 6.5 million). The 6,500-sqm warehouse can store 8,4 million liters of goods.
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Engineering
| September 12, 2017
The Hungarian Government is providing HUF 968 million (EUR 3.15M) in funding towards Diehl Aircabin Hungary Ltd’s HUF 2.76 billion (EUR 9M) project to develop an engineering center in Debrecen, eastern Hungary, creating 150 new workplaces.
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Transport industry
| September 12, 2017
German-owned passenger transport company FlixBus has opened a Central Eastern European regional office at the Népliget Bus Station in Budapest in order to coordinate its Hungarian, Romanian and Bulgarian networks.
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Transport industry
| September 8, 2017
The Hungarian trucking company WABERER’S INTERNATIONAL Plc. has announced on the website of the Budapest Stock Eschange (BUX) that its series “A” dematerialised, registered ordinary shares are to be included in the BUX basket with a weight of 0.91%.
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Airline industry
| September 6, 2017
Iberia, the Spanish national airline, has announced that, unlike in previous years, it will operate flights between Budapest and Madrid in the winter season from 2017, with three weekly flights on Wednesdays, Saturdays and Sundays.
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Automotive industry
| September 6, 2017
SPA Profiles Ltd. is constructing a new pressing plant in Székesfehérvár, SW of Budapest. The HUF 6.8 billion forints (EUR 22.2 million) investment by one of the world’s leading automotive industry suppliers is expected to create 120 new jobs.
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Oil industry
| September 1, 2017
The Hungarian oil and gas trust MOL celebrates the 80th anniversary of its first exploratory drilling that took place in Budafapuszta, Zala County in SW Hungary. In the rest of the year, MOL is to start drilling for oil and gas in eastern Hungary.
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Airline industry
| August 30, 2017
As of next April, the Irish low-cost carrier Ryanair will start a new route between Budapest and Santander in northern Spain after an agreement with the government of the province of Cantabria, according to the daily El Diario Montañés.
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Automotive industry
| August 30, 2017
SMR, a global automotive supplier from India, starts two projects eastern Hungary. The one worth EUR 10 million covers a new manufacturing hall for rear-view mirrors, while a EUR 16 million development is to expand the bumper part manufacturing capacity.
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Travel
| August 29, 2017
The website of Lonely Planet, the largest travel guide book publisher in the world, has picked five Budapest neighborhoods as recommedned for those visiting the Hungarian capital - all of them districts in the downtown area along the river Danube.
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Food industry
| August 24, 2017
The Hungarian Univer Product Co. Ltd. has opened Central Europe’s largest tomato processing plant in Kecskemét, southeast of Budapest. The Hungarian government contributed almost half of the investment costs of the project.
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Pharmaceutical industry
| August 23, 2017
The latest development by the Danish pharmaceutical company Xellia Pharmaceuticals has been completed at its Kőbánya site in Budapest. The laboratory constructed as part of a development of EUR 11 million will operate as a testing centre for active ingredients.
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Energy industry
| August 21, 2017
Mártrai Erőmű, the second largest power plant in Hungary, will implement the country's largest solar farm with a capacity of 3×20 MegaWatts, according to the Hungarian political daily Népszava. Two of the three units will be completed in 2018.
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Information technology
| August 18, 2017
An international jury of more than 200 executives worldwide awarded NNG with three International Business Awards for one of its development solutions, as well as its recent marketing and internal communication campaigns.
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Airline industry
| August 17, 2017
Fourteen racehorses bred in Hungary were flown to China last week, on board Cargolux’s Boeing 747. The Friesian and Shagya Arabian horses, trained specifically for combined driving, took off from Budapest Airport in special freight containers.
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Airline industry
| August 16, 2017
As of May 4, American Airline, the world's largest airliner, will have scheduled daily flights between the Hungarian capital and the city of Philadelphia on the east coast of the United States, according to a communiqué by Budapest Airport and the US airliner.
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Tourism
| August 15, 2017
The northeastern Hungarian region involving the city of Debrecen, the town of Hajdúszoboszló, the Hortonágy National Park area and the Lake Tisza reservoir have been given HUF billions for development in a program lasting until 2030.
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Real estate
| August 11, 2017
According to information published at the website of the Budapest Stock Exchange, in the framework of the developments tby Graphisoft Park, there will be 20,000 m2 office space and underground parking for 750 cars constructed by 2018.
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Banking
| August 11, 2017
Lending is gaining more and more importance as the pace of economic growth is accelerating, Minister for National Economy Mihály Varga said at the opening of a Hungarian Development Bank (MFB) info point at an OTP Bank branch in the third district of Budapest.
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Economic forecast
| August 9, 2017
In July, the GKI real estate indices for Budapest and Hungary stood at 1 and 0 points respectively. Both figures dropped slightly by one point, compared to the previous survey. Both indices went up 2 points, compared to the survey made one year earlier.
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Tourism
| August 9, 2017
In June 2017, the number of nights spent by international tourists in Hungary increased by 16% and that of nights spent by domestic tourists by 8.8% compared to the level a year earlier, Hungary’s Central Statistical Office (KSH) has reported.
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Real estate
| August 8, 2017
The National Bank of Hungary has sold heritage protected Eiffel Palace, a downtown office building in the vicinity of the Nyugati railway station in the Hungarian capital, to the Luxembourg-based Corpus Sireo Real Estate investment fund for EUR 53.8 million.
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Banking
| August 4, 2017
The Serbian unit of the largest Hungarian Bank OTP has bought the Serbian Vojvodjanska Banka from the National Bank of Greece for EUR 125 million. The deal also includes other Serbian units of the National Bank of Greece.
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Energy industry
| August 3, 2017
The Hungarian energy services firm ALTEO could launch new projects in a total value of close to HUF ten billion (some EUR 32 million): three power plants utilizing a total of 18.1 MW of solar power, and a 2 MW wind power plant.
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Agrarian industry
| August 2, 2017
As of August 1, Matthew Prickard took over as the General Manager of Syngenta Hungary, replacing Tibor Czigány who moves on to work in Syngenta's African division. Matthew Prickard arrived to Hungary from the firm's Scandinavian division.
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Food industry
| August 1, 2017
Heineken, the world’s second-largest brewery company, has published its results for the first half of 2017 and the numbers are quite good. Strong sales in Europe were the main reason including a double-digit growth in Hungary.
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Hospitality
| July 31, 2017
Grupo Iberostar, one of the most important Spanish companies in the world, celebrated 60 years of history. Six decades working with its customers and employees on a journey has positioned it at the forefront of the industry with hotels in 16 countries.
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Construction industry
| July 28, 2017
Leier Hungaria Ltd., the Hungarian subsidiary of Austrian construction industry group Leier, is spending HUF 7 billion (EUR 23 million) on expanding its six Hungarian construction material plants, creating a hundred new jobs.
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Airline industry
| July 27, 2017
German air carrier Lufthansa will modify its timetable and increase its number of flights between Budapest and Frankfurt. Starting from 11 December 2017, it will fly on this route five times a day and will also have an adjusted timetable.
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Hospitality
| July 25, 2017
Özyer Group has announced that it signed an agreement with Marriott International to launch the acclaimed Luxury Collection brand in Hungary with Matild Palace, a Luxury Collection Hotel expected to open in Budapest in early 2019.
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Telecommunications
| July 24, 2017
Romanian telecom operator Digi Communications is to buy Invitel Telecommunications Co. Ltd., one of the key operators on Hungary’s telecom market, for EUR 140 million. The transaction will be carried out through Digi’s Hungarian subsidiary.
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Aviation industry
| July 24, 2017
The European Bank for Reconstruction and Development (EBRD) is taking part in a financial restructuring of Budapest Airport Co. Ltd. with the aim to attract greater international investment and improve the airport’s operational performance.
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Food industry
| July 21, 2017
The latest sustainability report by HEINEKEN Hungária says the company has recycled 98% of the generated waste and covers 22% of its energy consumption from renewable sources and has reduced its specific water consumption by 13.8% since 2008.
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Automotive industry
| July 21, 2017
The French automotive supplier specializing in metal foundry Sicta is on a roll implementing an about EUR 11 million project in Felsőzsolca, NE Hungary. The expansion, subsidized by the Hungarian government with an undisclosed amount, is to create 115 new jobs.
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Chemical Industry
| July 20, 2017
Half a year after the announcement of its 2030 strategy, Hungary's MOL Group has signed license agreements signed with Evonik and thyssenkrupp that will enable MOL to produce propylene oxide, a key component for the production of polyether polyols.
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Pharmaceutical industry
| July 19, 2017
The Hungarian pharmaceutical company Gedeon Richter Plc. has announced that the European Commission has granted marketing authorization to Reagila (cariprazine) a novel antipsychotic for the treatment of schizophrenia in adult patients.
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Hospitality
| July 18, 2017
The Four Seasons Hotel Gresham Palace in Budapest has been chosen as the Top European City Hotel by the tourism size travelandleaisure.com. It finished ahead of two hotels in the Bristsih capital, London: Hotel 41 and the Milestone Hotel.
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Toy industry
| July 14, 2017
Lego Manufacturing Kft., the Hungarian subsidiary of the Danish LEGO group increased its net sales by 11% and its profits by 13% last year, the company told the Hungarian news agency MTI. In 2016, the Group closed its best year in its 85-year history.
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Food industry
| July 13, 2017
Balogh Tészta Co. Ltd, one of the biggest pasta makers in Hungary, inaugurated its new plant in Tiszakécske in the presence of PM Viktor Orbán. The new plant, built with EU support, has the initial output capacity of 2,250 kilograms per hour.
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Commerce
| July 11, 2017
Fornetti has opened its FFB (Fornetti Food and Beverage) exhibition bakery at rhe Octogon in Budapest. The new store has a self-service system and will be an important part of international expansion in the future, the daily Világgazdaság writes.
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Airline industry
| July 7, 2017
LOT Polish Airlines has announced to create a direct air link between Budapest and the United States as of next May. Flights four times a week to New York City JFK and twice a week to Chicago O'Hare airports will commence in May 2018.
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Financial markets
| July 6, 2017
Trading of Waberer's shares were launched at the Budapest Stock Exchange with a ceremonial ring of the bell this Thursday morning. The ceremony was attended by the representatives of Waberer's, of the Stock Exchange and other officials.
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Airline industry
| July 3, 2017
TAP Portuguese airlines has relaunched its air connection (seven times over six days a week) between the Poruguese and Hungarian capitals. It takes 3.5 hours for the airline's Airbus A319 aircraft to fly the 2,478 kilometers between the two cities.
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Aerospace industry
| June 23, 2017
German aviation industry supplier Diehl Aircabin is expanding its existing capacities in Nyírbátor, NE Hungary with an investment of EUR 120 million (appr. HUF 37 billion). the Hungarian government is providing HUF 1.38 billion in funding.
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Energy industry
| June 21, 2017
Siemens expanding its gas and steam turbine blade plant at its Power and Gas plant facility in Budapest with an investment of EUR 32.5 million (some HUF 10 billion). The expansion is planned to create 150 new jobs for technicians.
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Commerce
| June 20, 2017
Hungary’s online retail trade closed an excellent year in 2016. According to a report by eNET, Hungarian webshops generated HUF 427 billion (about EUR 1.39 billion) in turnover, more than 5% of the total national retail trade volume.
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Energy industry
| June 14, 2017
General Electric is on its way to transform from a traditional industrial company (manufacturing machines and equipment) to a digital industrial company. Its Veresegyház factory enhances its production efficiency using its own digital technologies.
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Lighting industry
| June 12, 2017
General Electric (GE) has confirmed that it has started talks on the sale of its lighting branch. According to the company, the sale will affect most of the lighting division's plants in Hungary and about half of the local workers.
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Packaging industry
| May 12, 2017
Hungary’s leading plastic film manufacturing base, Material-Plastik, a family-owned company, begins a project worth EUR 10 million, a new 6,000-square-meter factory hall is established and the existing fleet of machinery is also developed.
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Tourism
| April 28, 2017
The number of tourists coming to Hungary has been growing in the past decades, due to affordable accommodation possibilities, low-cost flights, and the many tourist attractions. Budapest remains the leading destination.
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Marketing
| April 24, 2017
The 2016 BalatonBor (BalatonWine) show in Budapest went far beyond the wines and the usual tasting, it emphasized the importance of regional marketing. The food fitting the vintages were made by the staff of Costes Downtown restaurant.
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Consultancy
| April 18, 2017
India’s largest IT company, Tata Consultancy Services (TCS) is expanding its capacities in Budapest's 11th districvt by opening a new service center with 500 new employees and five thousand square meters of new office space.
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Automotive industry
| April 10, 2017
Apollo Tyres Chairman Onkar S Kanwar and Hungarian Prime Minister Viktor Orbán inaugurated Apollo Tyres' 6th global tire manufacturing unit in Gyöngyöshalász, east of Budapest, which is the first greenfield investment of the company outside of India.
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Automotive industry
| April 6, 2017
The American automotive parts producer Dana Incorporated broke ground on its new European gear manufacturing facility in Győr, NW Hungary to support new business in the region. Production is planned to start in 2018.
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Information technology
| April 3, 2017
The American multinational technology company IBM has announced the opening of an IBM Budapest Lab dedicated to developing new technologies for IBM Cloud Video to support the increasing demand for streaming video technology.
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Energy industry
| March 31, 2017
The foundation stone for Hungrana Ltd.’s latest biomass power plant has been laid in Szabadegyháza, this Friday. Hungrana’s existing biomass power plant burns 60,000 tons of hay and 12-15,000 tons of sunflower husk pellets annually.
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Automotive industry
| March 24, 2017
ZF, one of the largest automotive suppliers worldwide, and strategic partner of the Hungarian Government, has announced that its Car Powertrain Division invests nearly EUR 100 million in its Eger location (east of Budapest), creating 770 new job until 2019.
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Pharmaceutical industry
| March 16, 2017
GlaxoSmithKline (GSK) is launching a development worth EUR 57 million in its Gödöllő plant. Upon completion of the investment, the plant will have expanded activity, producing diphtheria and tetanus vaccine (DT and TT) components for new areas of use.
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Environment
Source: press release | March 9, 2017
Environmental blogger and bestselling author (‘Zero waste home’), Bea Johnson presents her show in Budapest on March 22. Hungarian green associations, municipal companies and authentic public persons will make the event even more colorful.
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Interview
Réka A. Francisck | March 7, 2017
Dutchman Rick Enders, General Manager of Budapest Marriott Hotel & Millennium Court, Marriott Executive Apartments is more concerned about the human factor than the tides. Diplomacy&Trade has recently published an interview with him.
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Advertorial
| March 2, 2017
A startup initiative of young Hungarian professionals enters the local market of laundry products and detergents. At first, the 100% Hungarian products will be sold in TESCO stores, then, according to plans, they will also be available in other retails chains.
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Aerospace industry
| March 1, 2017
RUAG Aerostructures, a major player in the aerospace industry, opened its new factory in Eger, NE Hungary. It is the Switzerland-based aircraft section producers third plant to complement the ones in Germany and Switzerland.
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Automotive industry
| February 21, 2017
The Spanish Segura Group invests over EUR 17 million to expand its automotive bodywork and engine metal component factory in Szolnok, Eastern Hungary and plans to create an additional one hundred jobs there. The Group has been operating in Szolnok since 2005.
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Agrarian industry
| February 17, 2017
Within the framework of a EUR 7.4 million project, the company GSI - a global leader in the grain and protein solutions - will purchase modern machinery and equipment and plans to double its current staff in the coming years.
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Real estate
| February 7, 2017
In January 2017, the Budapest and the Hungarian real estate market indices of GKI-MGYOSZ stood at +4 and +2 points respectively. The index figure in Budapest was slightly up (within the error margin), while the national index has increased 3 points.
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Agreement
| January 23, 2017
China’s biggest commercial bank, the Bank of China (BoC) have concluded a number of cooperation agreements with Hungarian partners in Budapest. Bank of China's Chairman has announced the issuing of a yuan debit card in Hungary.
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Telecommunications
| January 10, 2017
Hungarian telecoms group Magyar Telekom has signed an agreement with Hrvatski Telekom d.d. for the sale of its majority (76.53%) stake in Crnogorski Telekom A.D. Podgorica. The value of the package is about HUF 38 billion (some EUR 123.5).
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Award
| January 4, 2017
Erik Bogsch, the CEO of the Hungarian pharmaceutical giant Gedeon Richter, has been chosen as the 2016 'Man of the Year' in Hungary by the business weekly Figyelő that recognizes positive examples to be followed morally and financially.
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Banking
| December 21, 2016
OTP Bank Plc. has announced that its Croatian subsidiary OTP banka Hrvatska, signed an acquisition agreement on purchasing 100% shareholding of Splitska Banka, member of Société Générale Group, portfolio.hu reports.

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Tourism
| December 16, 2016
The Dubai Tourism Bureau has officially opened its Budapest office. The emirate sees significant potential in Hungary and therefore would like to achieve notable growth in the number of Hungarian tourists visiting Dubai.
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Insurance
| November 10, 2016
As the risk environment for companies is changing, the insurance firm Allianz Hungária, in close cooperation with AON Hungary in the field of risk analysis, and the IT systems firm Duna Elektronika, jointly provide expert help in case of an unexpected disaster.
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Health
Réka A. Francisck | November 9, 2016
Even though it is one of the city’s newest dental clinics, Helvetic Clinics Budapest already has an excellent reputation. Through recommendations of satisfied clients, it has quickly developed a high-profile clientele seeking exceptional dental care.
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Aerospace industry
| October 25, 2016
Lufthansa Technik AG, Germany’s leading aircraft maintenance and engineering company has opened a new Aircraft Engineering Services Center at Budapest Airport. The new center will focus its activities around the Boeing 737 aircraft.
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Automotive industry
| October 19, 2016
Executives of German carmakers Audi and Daimler complained about labour shortage in Hungary this Wednesday, adding that efforts to improve worker mobility and local infrastructure were needed, the financial website portfolio.hu reports.
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Transport industry
| October 14, 2016
Chinese automobile manufacturer BYD is establishing Europe’s first electric bus factory in Komárom, NW Hungary with an investment of HUF 6.2 billion forints (EUR 20 mn). Production is expected to already begin early next year.
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Food industry
| October 12, 2016
Nestlé Hungária organized a conference in Budapest at the 25th anniversary of its establishment and the 150th anniversary of the founding of Nestlé. Nestlé’s investments in Hungary total more than HUF 100 billion (EUR 330 mn).
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Commerce
| October 6, 2016
Home improvement and do-it-yourself goods hypermarket chain Praktiker has opened its 20th - and the largest - store in Hungary. The 12,000-square-meter facility, secured with a long-term rent contract, has been built in the place of a similar store.
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Hospitality
| September 14, 2016
Kempinski Hotel Corvinus has been voted Hungary’s Leading Business Hotel by World Travel Awards - a global recognition by the travel, tourism and hospitality industry as the definitive acknowledgement of excellence -, for the third time.
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Aviation industry
| August 24, 2016
Budapest Airport and DHL Express have signed a strategic agreement about the development of a new facility for the Deutsche Post DHL Group company in Hungary. This is the second large-scale investment by Budapest Airport and DP DHL.
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Automotive industry
| August 15, 2016
Hungary is changing into higher gear in the field of electromobility as the Ministry for National Economy (NGM) announces a tender offering HUF 1.25 billion of non-refundable grants for establishing charging stations for electric vehicles in the country.
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Pharmaceutical industry
| August 10, 2016
Hungary’s leading pharmaceutical company, Gedeon Richter Plc., has signed an exclusive license agreement with Recordati to commercialize cariprazine, a novel atypical antipsychotic in Western Europe and in Algeria, Tunisia and Turkey.
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Commerce
| August 4, 2016
The Sunday turnover of the biggest retail chains in Hungary has recovered to the level from before the implementation of the Sunday shopping ban only by now - after about four months, the financial website portfolio.hu reports.
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Automotive industry
| July 29, 2016
German carmaker Mercedes-Benz is building a new plant next to its existing factory in Kecskemét, eas-central Hungary. The capacity of the new plant, built with an investment of EUR 1 billion, will be 150,00 cars a year and the project will create 2,500 new jobs.
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Tourism
| July 26, 2016
The Budapest city council has invited tenders to operate "hop-on, hop-off" sightseeing buses in the city, the Hungarian news agency MTI reported. The concession is for 20 years and guarantees a monopoly on a market worth 1.5 billion annually.
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Airline industry
| July 21, 2016
Hungary-based budget airline Wizz Air reports a jump in profits for the first quarter of 2016. The airline also saw halving of its intended second half growth to the UK and re-deploying this capacity to other non-UK routes due to the outcome of the Brexit vote.
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Oil industry
| July 18, 2016
Hungarian oil and gas group MOL has announced that it is selling its minority stake in Energopetrol to INA, its own Croatian subsidiary. The share purchase agreement with INA concerns the sale of MOL's 33.5% equity stake in Energopetrol.
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Transport industry
| July 13, 2016
On-demand ride share service company Uber is suspending its services in Budapest as of 24 July when new legislation enters into effect, facilitating the blocking of platforms that offer "illegally operating taxi services."
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Aviation industry
| June 30, 2016
Budapest Airport Co. Ltd. will make a HUF 50 bn investment over the next five years. The program includes a new passenger pier, and the construction of an airport hotel as well as a series logistics and security-related investments will all begin shortly.
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Oil industry
| June 17, 2016
Hungarian oil and gas group MOL has announced on Friday a new oil and gas discovery in the TAL Block it operates in Pakistan. This marks the 8th discovery in the block and Mol's 12th discovery in the country, portfolio.hu reports.

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Banking
| May 4, 2016
The European Bank for Reconstruction and Development's (EBRD) Board of Directors has approved taking a 15% stake in the Hungarian unit of Erste Group Bank, an EBRD spokesman is quoted by portfolio.hu as saying this Wednesday.
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Automotive industry
| April 29, 2016
Luxury carmaker Mercedes-Benz has announced a HUF 185 billion (some EUR 595 mn) worth of investment at its Hungarian plant in Kecskemét. This amount already includes the EUR 250 mn to be spent on a new bodywork unit there.
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Renewable energy
| April 28, 2016
Hungary's carbon-dioxide emission can be reduced by as much as 15,000 tons with the introduction of a new photo-voltaic plant that has been inaugurated near the southern Hungarian city of Pécs. It is an investment of HUF 4 billion (most of it EU funding).
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Gastronomy
| April 20, 2016
The first full week-end this May will see the third Food Truck Show Budapest in the Kincsem Park horse racing venue. The main is to present food trucks offering the best quality meals and drinks to the audience who can also enjoy several horse races.
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Automotive industry
| April 18, 2016
German engineering giant Siemens and French automotive supplier Valeo will manufacture engines for electric and hybrid cars. The venture will be headquartered in Germany with facilities in China, France, Norway, Poland and Hungary.
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Information technology
| April 12, 2016
International financial software developer firm Misys has partnered with Dorsum, an innovative investment software provider in Hungary, to integrate online brokerage functionality in its Misys FusionBanking Essence digital channels software
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Logistics
| March 29, 2016
The Central and Eastern European region has achieved a significant improvement in its desirability as a logistics location. 8 sites from the region have successfully made it to the top 20 list of most popular European locations - a 100% increase since 2013.
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Aerospace industry
| March 24, 2016
Hungary's ADMATIS Ltd. has designed and procured mechanical and thermal equipments for a high resolution Multi-Spectral Imaging Instrument, such as brackets for electronics (with radiators), thermal shields and baffles for the satellite Sentinel 2.
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Automotive industry
| March 23, 2016
German carmaker Daimler will invest a further EUR 250 million at its Mercedes manufacturing base in Kecskemét, east-central Hungary by 2018. The company will invest in technology developments as well as expand its production capacity.
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Viticulture
| March 19, 2016
27 types of wine from 19 producers in Hungary's historical wine production region Tokaj will go under the hammer at the 4th Grand Tokaj auction this April. All 27 are special items that cannot be purchased anywhere else currently.
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Tourism
| March 18, 2016
Following last year, when several tourism indicators hit new highs, this year also promises to be a record-breaking one in Hungary: dynamic growth experienced in the number of tourism nights by domestic guests and arrivals by foreign guests have also picked up.
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Airline industry
| March 17, 2016
Budapest Airport says it has achieved a unique triple success as it won the title of 'Best Airport in the Eastern Europe region' for the third consecutive year. The award was handed over at the ‘Passenger Terminal EXPO’ in Cologne, Germany.
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Commerce
| March 2, 2016
The SPAR supermarket chain has been present in Hungary for 25 years. Austria SPAR International AG purchased a Hungarian chain of stores in 1991. The national network is now of 32 hypermarkets, 349 supermarkets and 75 franchise stores.
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Commerce
| February 26, 2016
The European Commission has opened infringement proceedings against Hungary over the ban on loss-making in the retail sector, in the form of a Formal Notice, arguing that it may restrict the freedom of establishment for businesses.
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Pharmaceutical industry
| January 23, 2016
Hungary’s largest drugs producer, Gedeon Richter Plc., has announced that it bought out its Chinese partner, obtaining its outstanding 50% stake, further strengthening its presence in China, the Hungarian financial website portfolio.hu reports.
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Transport industry
| January 18, 2016
Hundreds of taxi drivers blocked roads in downtown Budapest to demand the banning of the Uber service that syphons away customers from them. They claim the Uber service is illegal as it does not conform to the requirements cab drivers must adhere to.
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Tourism
| January 10, 2016
The number of visitors in Budapest’s thermal baths increased by 15% and revenue was up by 17% in 2015 compared to the previous year. As the operator had an operating profit in 2015 of around 2 billion forints, this opens up investment opportunities.
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Tourism
| January 9, 2016
Hungarian travelers, investors, business people, and tourism professionals are among the target audience of the ASEAN Tourism Forum that takes place in Manila(January 18-25), as a cooperative regional effort to promote tourism to the 10 member states.
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Education
Advertorial
| January 4, 2016
British families often remark that the English Garden Nursery and Pre-school seems as if it has been transported over from the United Kingdom which reflects the English Garden’s motto “A British Style education in an International Atmosphere!”
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Public transport
| December 15, 2015
The Hungarian Minister for National Economy Mihály Varga signed a financing agreement with Budapest’s public transport company BKV, under which 20 Hungarian-made electric midibuses and the necessary charger technology will be purchased.
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Aviation industry
| December 10, 2015
At noon this Wednesday, the number of passengers at Budapest Airport this year officially reached 10 million – the number of people who used the airport in 2015 equals the population of Hungary, which is the highest traffic record of all time, so far.
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Finance
| November 24, 2015
The National Bank of Hungary (MNB) announced on Tuesday that it increased its ownership in the Budapest Stock Exchange (BSE) to 75.8% by acquiring a total stake of 68.8% from Austrian CEESEG AG and Österreichische Kontrollbank AG.
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Nuclear industry
| November 19, 2015
The European Commission has opened infringement against Hungary for lack of compliance of the Paks nuclear power plant project with EU public procurement rules. Portfolio.hu says the move is not unexpected, as press reports have already heralded it.
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| October 26, 2015
Restaurants, bars and cafes in shopping centers have become the new magnets for other businesses as shopping centers across Europe are the preferred destination for eating and drinking.
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Oil industry
| October 21, 2015
Mol Group signed an agreement on the purchase of Eni Hungaria Zrt., which operates 183 fuel stations under the brand Agip in Hungary and it is engaged in wholesale business, dailynewshungary quotes the popular Hungarian news portal index.hu.
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Tourism
Nándor Mester | October 17, 2015
The export of Austrian goods and services to Hungary is increasing and some Austrian companies are committed to expansion. There are also Hungarian entrepreneurs attempting to find their fortune in Austria.
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Telecommunications
| October 12, 2015
The International Telecommunication Union (ITU), which marks its 150th anniversary this year, has began a four-day World Congress in the Hungarian capital. The event focuses on the solutions, policies, projects and initiatives accelerating ICT innovation worldwide.
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Andrew L. Urban | September 26, 2015
With this year’s harvest, Villány is on the eve of a new marketing campaign, with cabarnet franc leading the way. In a drive to raise the profile of the region, premium Villanyi Franc will be the signature of the region’s already acclaimed reds. Indeed, in time, the words Villanyi Franc may become as globally recognised as the words Tokaji Aszu.
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Tourism
| September 21, 2015
Hungarian Tourism Ltd. has decided to make a short campaign movie along with a photo series to show tourists how safe the country still is, despite of what they call negative propaganda, Hungary Daily News quotes the online portal of the daily Népszabadság.


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law enforcement
| September 17, 2015
The „Police Academy”. in Budapest turned 20 years. There is no change in goals: to protect and serve more effectively and fight criminal groups which have become more global, sophisticated and technically advanced than ever before.
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Andrew L. Urban | September 11, 2015
Csaba Malatinszky could well be tagged Hungary’s Monsieur Cabarnet Franc. London’s respected Decanter magazine declared his 2010 Serena the best old world white wine of Europe.
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Telecommunications
| September 10, 2015
Chinese multinational networking and telecommunications equipment and services company Huawei has been awarded, without a public procurement tender, the job of setting up Hungary’s fourth mobile network in the 450 MHz frequency band.
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Science
| September 9, 2015
“We support the utilization of EU structural funds for innovation projects; we cooperate with partners from regions in the neighboring countries, says Béla Kardon, Chief Scientific Officer of the Regional Center for Information and Scientific Development.
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| September 8, 2015
Turkish Airlines continues to grow globally and now serves more destinations than any other airline. The company is increasing its presence in the U.S., adding new gateways to its network across North America.
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Businesspeople
Andrew L. Urban | September 7, 2015
Since 2010, the Gere vineyards have been organic, officially certified in 2014, and the results are exceptional, says Attila Gere, one of the famous winemakers in Villány region.
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Real estate
| September 6, 2015
More commercial real estate portfolios are changing hands than ever before as international investors rush to obtain first class assets in Europe and Budapest is getting in on the trend.
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Commerce
| September 3, 2015
In 1995, SPAR established a new category of commercial outlet in Hungary by opening its first Interpar hypermarket in the country. 20 years ago, it was great novelty here to have a shopping center with department store, bank, travel agency and restaurant.
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Banking
| September 2, 2015
As expected, Erste Group is going to acquire the consumer business (retail banking and cards business) of Citibank Europe Plc. in Hungary. The transaction is subject to regulatory approvals, which are expected by the end of 2015, portfolio.hu reports.
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| August 24, 2015
Business Lease Hungary is the first leasing company that can offer Teslas in collaboration with Tesla in a market that they have no representation. Later Business Lease Slovakia and Czech Republic will follow the Hungarian office.
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| August 23, 2015
Singapore Airlines just recently has added a new class, more destinations and upgraded services. The national carrier has unveiled its new Premium Economy Class seats with new in-flight offerings available to customers.
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| August 22, 2015
Automotive component manufacturer PATEC is going to built a new plant in Miskolc. As part of a EUR 5 million project the company will establish a 15,000 sqm production facility which will create some 400 jobs in a region.
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| August 22, 2015
Peter Stračár, head of GE Central Europe thinks it is the task of his team to make the region, including Hungary, visible within the global company while also promoting the benefits of free trade to stakeholders in this part of the world.
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| August 21, 2015
Asian expansion creates more business opportunity to the Hungarian based Cellum.
The mobile payment provider has just opened its newest subsudiary in Singapore and planes to capitalize on its strategic location in the region.
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Businesspeople
Andrew L. Urban | August 16, 2015
The atmosphere generated at Hooters is critical to its success, says Alex Hemingway. He is proud of the fact that when it opened the place eraged just 10% female customers.
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Hospitality
Andrew L. Urban | August 15, 2015
Thousands of Indians are coming to Budapest each year on corporate incentive tours, encouraged and welcomed by the Budapest Marriott, whose General Manager Rick Enders has even adapted his kitchen for the curry consuming guests. It’s helping to build a social bridge between the cultures.
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Réka A. Francisck | August 13, 2015
“How does a country that up until 25 years ago did not even know what the global market was, make a hit internationally in the wine business?” the question bursts out of me the moment I meet Nimród Kovács, whose great mission is to put Hungarian wines on the world stage.
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Tourism
| August 12, 2015
In June 2015, more than 1 million guests spent 2.5 million tourism nights at Hungarian accommodation establishments. The number of guest and tourism nights grew by 6.7% and 4.9%, respectively, year-on-year. Occupancy ratios also increased.
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Transport industry
| August 11, 2015
There is no better start to an interview than the interviewee asking a question to the interviewer. It instantly provokes a vibrant, open minded and straight forward atmosphere. This is exactly what occurred when D&T sat down to interview Dror Harel, country manager of Air France KLM in Budapest.
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Information technology
| August 9, 2015
On a recent business tour to Singapore a group of Hungarian technological startups were given a chance to attract local venture capital firms and meet high ranking officials of the state administration. The feedback was positive, and preparations are now underway to make business deals in the upcoming months.
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| August 8, 2015
Singapore is a good place for Hungarian companies to make money locally and elsewhere in South-East Asia. Diplomacy&Trade asked Miklós Horváth, president of the Hungarian Foreign Trade Association (HFTA) how to prepare successful business deals in this city state.
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Food industry
| August 7, 2015
Hungarian frozen bakery products company Fornetti has been bought by Switzerland’s Aryzta for an undisclosed sum, the financial website portfolio.hu reported former Fornetti managing director József Szabó as saying. Aryzta is to invest into Fornetti EUR 1 mn this year.
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Tourism
Andrew L. Urban | August 5, 2015
More than just superficially trendy, Hungary is trending – that’s the phenomenon when a topic in online and social media or a stock on the sharemarket shows high levels of public interest and activity.
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Public transport
| August 3, 2015
Engineers at the Center for Budapest Transport (BKK) have assembled the world's largest tram produced by the Spanish company CAF in Beasain, in the Basque Country province of Spain. Budapest ordered 12 of these 56-meter-long Urbo models.
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Businesspeople
Andrew L. Urban | August 1, 2015
From young program coordinating producer on The Tonight Show With Jay Leno in Los Angeles to owning and running the iconic, 101 year old Déryné Bistro and Grill in Budapest, is not an average career path. Nor is 41 year old Kristóf Kovács an average sort of tv producer or indeed restaurateur.
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Aviation industry
| July 31, 2015
Budapest Airport has welcomed its one millionth passenger in a single month, for the first time in its history. Tamás Hadik and his wife, from the Qatar Airways flight from Doha, were in for a special surprise as the passenger count reached 1,000,000 in July.
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Businesspeople
By Andrew L. Urban | July 28, 2015
"I came back from the US to Hungary with a business plan for an IT company, and it is highly satisfying to see that idea now a thriving business with almost 100 employees." says Peter Freed, founder of Duna Elektronika.
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| July 26, 2015
LogMeIn, a Hungarian born startup company has grown to become one of the world’s leading SaaS companies with over 800 employees in eight offices around the world. Its Budapest-office remains one of the most important development base.
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Service sector
| July 25, 2015
In the early 1990s, market based privatization was the main incentive for foreign investment in Hungary. With privatization virtually complete, Hungary’s main focus in attracting FDI has increasingly shifted to products and services incorporating high value added elements. That is the case with the American investors as well.
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Andrew L. Urban | July 24, 2015
George Hemingway is a self confessed opportunist, an autocrat – “a benign one” he quickly qualifies – but above all, a builder, not so much of buildings, though that, too with a new Bozsik stadium on the way, but of “organizations, businesses".
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Information technology
| July 23, 2015
American technology has been leading the world for decades. Giants such as
General Electric (GE), Microsoft, Apple, HP and others have contributed much to the world and represent a huge added value. And spend billions of dollars for R+D and marketing to defy Asian competitors.
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Real estate
| July 22, 2015
Growth prospects for the European economy are showing improvement in 2015, which creates greater business confidence in office tenants. This is already having an impact on the demand for offices, which increased by 4% year-on-year. The tightening supply of prime office space in Europe is causing prime rents to accelerate.
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Investment
| July 21, 2015
As the private investments' market heats up in Europe, owners of venture capital (VC) firms and private equity (PE) investors try to find good partners in Hungary too. Transactions happen every month and a good sign is that they happen not in the IT sector only but in the business products and services segment as well.
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Information technology
| July 19, 2015
Neumann Society (NS), a transatlantic non-profit organization working to foster innovation among Hungarians and other Europeans in Silicon Valley announced the opening of Neumann House, its physical headquarters and community space in Redwood City, California on June 1, 2015.
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Agrarian industry
| July 10, 2015
After two years, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) has again held inspections in Hungary. A representative of the FSIS audited the monitoring system of Hungary’s animal-based food producers.
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Tobacco industry
| June 26, 2015
Nowhere in Europe is it this conspicuous that only those with good relations with the government can sell tobacco products. Hungary could be subjected to a commitment procedure in the near future, portfolio.hu quotes a Hungarian blog.
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Commerce
| June 22, 2015
Hungary’s no-work Sunday law cost more than 2,000 people their jobs in commerce by the end of April 2015, the country's Central Statistical Office (KSH) data suggest. Additionally, the number of overtime hours rose to five-year highs.
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Tobacco industry
| June 18, 2015
As of November 1 this year, only two companies will be allowed to sell tobacco products directly to Hungary’s national tobacco shops. Portfolio.hu says the new legislation practically squeezes out all other players and wholesalers from this market.
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Utilities
| June 15, 2015
The last private gas provider for residential consumers on the Hungarian market, Tigáz has given up its household gas provision business. Recently three other large providers did the same after accumulating heavy losses due to government decrees.
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Aviation industry
| June 2, 2015
In an historic return, Spain's national carrier, Iberia, and its low-cost subsidiary, Iberia Express, have launched a six-days-a-week seasonal service between the capitals of Spain and Hungary, also facilitating access from Budapest to other cities in Span and Latin America.
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Automotive industry
| May 26, 2015
South Korean tire maker Hankook has completed the third phase of a 313 million euro (HUF 4 billion) investment project in Hungary, in which it has expanded the production capacity of its local plant and added 950 jobs, portfolio.hu reports.
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Interview
| May 16, 2015
Podravka Group realized HRK 92 million net profit in 2014, mostly owing to strong growth of the profitable margins in the segments of food and beverages. The company is expanding in Hungary and taking further steps to strengthen its position in the Central European region.
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Interview
| May 15, 2015
The Croatian bakery chain Mlinar is a relative newcomer in Hungary. Seven outlets have been opened in Budapest. The company planes to enlarge its market position, mainly in the capital via franchise agreements requirement, since it can offer to every franchisor a proven business model, know how, logistic and marketing support.
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Tourism
| May 14, 2015
Just like last year, Budapest is ranked 17th in the world according to the International Congress and Convention Association (ICCA), which lists the number of international events complying with the organisation’s criteria. Hungary is 31st among the countries.
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Anniversary
| May 7, 2015
It was 65 years ago on this day that the new airport of the Hungarian capital commenced operation. On May 7, 1950, a Li-2 passenger aircraft flew to Ferihegy from nearby Budaörs Airport. This marked the beginning of civil aviation at Budapest Airport.
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Oil industry
| April 29, 2015
Hungarian fuels group MOL has entered Norway by acquiring 100% ownership in Ithaca Petroleum Norge (IPN) from Ithaca Petroleum Ltd. for USD 60 million to extend its presence in the North Sea region and enhance its international exploration portfolio.
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Automotive industry
| April 23, 2015
Apollo Tyres Ltd. will receive a job-creation training subsidy of HUF 606 million (cca. EUR 2 million). The Indian company is to spend the amount on providing Hungarians with vocational training in tire manufacturing between May 2015 and December 2019.
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Construction industry
| April 15, 2015
The volume of Hungary’s construction output grew by 3.2% month on month in February 2015, but the fall in orders data suggest that regardless of the strong start this year the floor will soon fall from under the sector, the business website portfolio.hu reports.

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Aviation industry
| March 20, 2015
Budapest Airport was declared the winner of the ‘Best Airport in Eastern Europe’ award by British aviation analysts Skytrax. The award was received by Péter Huszka, chief operating officer for Budapest Airport, at the Passenger Terminal EXPO 2015 in Paris.
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Nuclear industry
| March 13, 2015
The EU has, at least temporarily, blocked Hungary’s EUR 12 billion nuclear power station deal with Russia as Euratom refused to approve Hungary’s plans to import nuclear fuel exclusively from Russia. Other parts of the deal are also under investigation.
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Finance
| March 10, 2015
The National Bank of Hungary suspended the brokerage licence of the Hungarian Quaestor on Tuesday, citing regulatory shortcomings, and said the firm may also have issued many more bonds than permitted under its issuance program, the Reuters reported.
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Service center
| February 10, 2015
The Hungarian government and UNICEF announced this week that they agreed in principle to establish UNICEF’s first-ever Global Shared Services Center in Budapest. It will conduct a broad range of UNICEF’s financial and human resources operations worldwide.
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Banking
| February 9, 2015
Hungarian Prime Minister Viktor Orbán has announced that his government and the European Bank for Reconstruction and Development (EBRD) will seek to acquire 15-percent stakes in the Hungarian affiliate of Austria's Erste Bank.
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Utilities
| February 5, 2015
Hungary’s ruling Fidesz-KDNP caucus has authorised the government to launch the national utility service provider in March, said Fidesz caucus chief Antal Rogán on Thursday. The company will first offer natural gas and later electricity services, as well.
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Machinery industry
| February 3, 2015
Canada-based diversified global manufacturing company Linamar has set up a new factory facility with a EUR five billion investment in Orosháza, Hungary, 200 kilometres southeast of Budapest. The EU supported project creates 150 new jobs at the company.
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Service center
| January 28, 2015
As announced earlier this week, Saudi industrial and commercial service provider Sherbiny Holdings will establish an engineering service center in Gödöllő, just east of Budapest.The value of the investment exceeds HUF 150 million (EUR 481 000).
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Commerce
| January 22, 2015
Austrian home improvement center operator bauMax AG has announced its exit from Hungary. The decision, which follows "due consideration", was made due to difficult economic conditions in this country, the company’s management said on Wednesday.
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Automotive industry
| January 13, 2015
In 2014, the world’s largest car engine producer, the Hungary-based plant of German carmaker Audi, produced the biggest number of engines to date and the number of cars rolling out of the factory was the triple of the 2013 figure. The headcount has grown further.
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Banking
| December 19, 2014
The Bank of China has opened its new Central and Eastern European regional center in Budapest. The bank has had a branch office in Budapest since 2003, serving small and medium size enterprises (SME) sector as well as private individuals.
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Energy industry
| December 18, 2014
The European Investment Bank (EIB) is lending EUR 100 million to state-owned MVM Hungarian Electricity Ltd to finance the implementation of its investment program for the period 2013-2018. The EIB loan will facilitate development projects.
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Transport industry
| December 17, 2014
Hungary, Serbia and China signed an agreement on the modernization of the Budapest-Belgrade railroad on Wednesday. It will be part of a transit route to allow the fastest transportation of Chinese goods form Greek harbors to Europe.
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Nuclear industry
| December 9, 2014
Hungary’s state-owned power company MVM and Russia's Nizhny Novgorod Engineering Company Atomenergoproekt have signed three implementation agreements for two new 1,200 megawatt nuclear reactors to be constructed at the Paks power plant.
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Airline industry
| December 5, 2014
Jost Lammers, the chief executive officer of Budapest Airport received a high-ranking accolade from the Hungarian National Association of Entrepreneurs and Employers. He was named “Entrepreneur of the Year” at an award gala held at the Palace of Arts.
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Automotive industry
| November 21, 2014
The Hungarian unit of Japanese carmaker Suzuki Motor Corp returns to two-shift production this December from one shift, CEO Ryoichi Oura has announced, adding that the serial production of the new Vitara model will be launched in January next year.
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Information technology
| November 17, 2014
In recent years, companies have undergone a transformation, adapting to the changing market conditions. The role of information technology has also been transformed, it has become a “public utility”, which is essential for the functioning of companies.
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Information technology
| November 11, 2014
The Hungarian viticulture company SmartVineyard finished 8th among the 20,000 competitors participating in Intel's prestigious Global Challenge competition in San Francisco, California, earlier this month.
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Construction industry
| November 4, 2014
Home building seems to start taking off in Hungary, the latest release of the Central Statistical Office suggests. The trend which started in early 2014 continued and in the first nine months of the year 27% more new homes were built than in the same period of 2013.
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Education
| October 21, 2014
The German multinational engineering and electronics company Siemens has opened a vocational training center at its Budapest headquarters. The facility is to accommodate up to 100 students: would-be welders and industrial engineers.
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Real estate
| October 16, 2014
In the third quarter of 2014, the total Budapest office stock (including owner-occupied and speculative buildings) reached 3,219,380 square meters. The vacancy rate came in at 16.9% in Q3, down 0.7% quarter on quarter and 1.7% year on year.
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Banking
| October 14, 2014
Along with the publishing of its third-quarter earnings report this September, Citigroup also announced its intention to exit its consumer businesses in 11 markets, including Hungary. The sale the units is to be completed in 2015.
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Investment
| October 8, 2014
Flame Spray Hungary, an Italian-owned company engaged primarily in applying special coating on gas turbine and aircraft engine parts, has inaugurated a new 3,000-sqm hall, built with an investment of HUF 500 million, at its base in Szada, east of Budapest.
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Automotive industry
| October 1, 2014
The number of new car registrations continued to rise in Hungary by 18% year on year in September. The favorable picture is slightly overshadowed by the fact that the market remains driven by company purchases and re-export, and not private buyers.
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Banking
| September 22, 2014
Exit from Hungary is not on Raiffeisen’s agenda. CEO Heinz Wiedner told a newspaper that Raiffeisen Hungary was profitable in every business segment in the first half of the year, but still incurred serious losses due to government measures.
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Agrarian industry
| September 17, 2014
The Hungarian government has launched a campaign calling for Hungarians to consume more apples after a predicted record crop of 780-800,000 tons and the EU embargo against Russia. One of the oppositon parties have come up with alternative proposals.
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Banking
| August 15, 2014
Professionals see significant opportunities in the financing of export activities of companies, says István Fetter, the Head of Trade Finance at CIB Bank Hungary. He also explains how his bank is able to provide prefential loans for different firms.
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Oil industry
| July 23, 2014
The Croatian government is urging talks on a secured loan to buy back shares of oil and gas company INA from Hungarian counterpart MOL, Croatian Economy Minister Ivan Vrdoljak was reported by portfolio.hu as saying.
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Electronics industry
| July 18, 2014
Microsoft Corp announced on Thursday that it plans a "phased exit" from the town of Komárom, W of Budapest, where Nokia employs 1,800 people. The Hungarian arm of German carmaker Audi said they might be able to help those that will be laid off.
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Automotive industry
| July 15, 2014
German car-maker Audi is to introduce a three-shift operation in the middle of August, this year at its plant in Győr, Northwest Hungary. The company says the reason for the change is growing demand for its premium models, especially the TT and the TTS Coupé.
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Media
| July 4, 2014
RTL is prepared to "fight tooth and nail" against Hungary's advertising tax, the words of CEO of the most popular Hungarian commercial TV channel RTL Klub Dirk Gerkens is quoted by portfolio.hu from his interview with the Reuters news agency.
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Real estate
| June 19, 2014
Recognizing difficulties on the real estate market in Sierra Leone, West Africa, the Hungarian firm TWD Investments Plc. - drawing on the knowledge of its owners about local conditions and the experience of its management - plans various projects in that country.
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Trade
| June 12, 2014
The China Smart Expo 2014 in Budapest aims to bring together Central and Eastern European enterprises with their potential Chinese partners. The exhibitions and trade fairs provide great opportunity to directly meet with the Chinese manufacturers.
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Media
| June 11, 2014
The governing party Fidesz and the far-right nationalist Jobbik party have passed a bill on a new advertising tax to be imposed on media companies, publishers, billboard users and online advertisers. Experts claim the measure is politically motivated.
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Airline industry
| June 5, 2014
A biometric ID system has started operating at border control in Budapest's Liszt Ferenc International Airport. Zoltán Török, head of the Airport Police Directorate, said that the system operated on the departure side in order to ensure fast border control.
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Advertorial
| June 4, 2014
Air France-KLM is one of the most important airlines in Hungary. Since customer comfort in Business Class services is very important for both Air France and KLM. Therefore, there have been a lot of innovations in this field.
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Finance
| May 21, 2014
ING Investment Management, which was the third-largest on the Hungarian market in 2010 with HUF 1.2 trillion worth of funds managed, is winding up its local operation. The company’s foreign owner decided to cease operation of the Hungarian unit as of July 2014.
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Investment
| April 18, 2014
Ferdinand Gross Hungary Ltd., a German company affiliate, the wholesaler of screws and fasteners, small mounting parts and supplies, has inaugurated its logistics base in the Tatabánya industrial park, west of Budapest.
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Construction industry
| April 16, 2014
Hungary bought a 12,000-square-meter plot suitable for the purposes of Budapest's new convention center from a subsidiary of TriGránit, investor Sándor Demján's real estate development company, news site Napi.hu reported.
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Electronics industry
| April 9, 2014
Samsung SDI Hungary, located in Göd, northeast of Budapest, is closing down. It was was the second-largest local unit in the country that manufactured color picture tubes (CPT), plasma display panels (PDP) and mobile phone displays.
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Oil industry
| March 25, 2014
Hungarian oil and gas group MOL has announced that it has successfully closed its previously announced North Sea acquisition, adding that the region was a "very attractive area", the Hungarian financial website, portfolio.hu reports.
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Service center
| February 18, 2014
“Hungary's primary appeal is its well-trained workforce,” Ferdinando Beccalli-Falco, President and CEO of GE Europe pointed out as his company opened a Global Operations Center in Budapest. The opening was also attended by the Hungarian Prime Minister.
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Automotive industry
| February 11, 2014
Hungary’s vehicle manufacturing industry produced some EUR 18 bn last year, which amount constitutes 18% of the total Hungarian manufacturing industry output, 10% of Hungary’s GDP and 18% of total Hungarian exports.
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Information technology
| February 10, 2014
Hungary’s IND Group, which has grown from a garage company at the end of the 1990s into a leading innovator in digital channels solutions, has been acquired by Misys, a global giant of financial technology solutions, Mysis announced.
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Agrarian industry
| February 5, 2014
Hungary is represented by producers, processors, traders, research institutions and consultants at the "Fruit Logistica" international exhibition and fair in Berlin, the Hungarian Fruit and Vegetable Interprofessional Organisation (FruitVeB) announced.
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Tobacco industry
| February 3, 2014
BAT Pécsi Dohánygyár Kft., the subsidiary of British American Tobacco (BAT) in Pécs, southern Hungary, has announced that it will establishe a new factory there with an investment of HUF 9 billion (approximately EUR 30 million).
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Automotive industry
| January 20, 2014
Hungarian automotive group Rába has concluded an agreement with Germany’s Kirchhoff Group, It will supply components for western European passenger cars, generating annual sales revenues of HUF 500 million (EUR 1.66 million).
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Telecommunications
| January 10, 2014
In 2014 and 2015, all Hungarian state institutions will use Vodafone as their mobile service provider. The net value of the framework contract is HUF 4.5 billion (EUR 15 million), three times higher as Telenor received for the previous two years of services.
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Construction industry
| January 9, 2014
Hungary-based TriGranit Management has established a new company in the United Arab Emirates, TGM Consultants (Dubai) FZ LLC, as part of its endeavour to actively pursue new property/facility management and leasing mandates.
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Energy industry
| January 8, 2014
The state-owned Hungarian Electricity Works (MVM) plans further rapid expansion after quick growth in recent years, more than doubling its revenue this year from 2010, the Chief Executive Officer of the company Csaba Baji told a press conference.
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Energy industry
| December 18, 2013
The Hungarian state struck a deal on buying out Germany utility RWE’s share in Főgáz, the capital city’s gas distributor. The buyer is the Hungarian Electricity Works (MVM) and the subject of the transaction is RWE’s 49.83% stake in Főgáz.
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Information technology
| December 17, 2013
Hungary's most powerful supercomputer is scheduled to be operating in Debrecen University, in the eastern part of the country, by the end of 2014. It is another project that will be realized in the country from European Union funds.
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Tourism
| November 20, 2013
Laos that has been named world's best tourist destination for 2013 by the European Council on Tourism and Trade. It’s natural beauties, gastronomy, and UNESCO World Heritage sites are attracting increasing number of tourists from Hungary, as well.
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Automotive industry
| November 15, 2013
The BMW Group has been in contact with over 200 suppliers in Hungary and currently, it purchases different components directly from 54 active partners in the value of about EUR one billion. These companies employ in Hungary a total of appr. 10,000 people.
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Construction industry
| November 5, 2013
A total of 4,077 new dwellings were built in Hungary in the first nine months of 2013, 37% fewer than a year ago, the Central Statistics Office (KSH) has reported. The number of dwellings put to use decreased in all regions, only the capital city saw a 3% rise.
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Oil industry
| November 4, 2013
Kalegran Ltd, a subsidiary of the Hungarian energy group MOL, found discoveries in the Akri-Bijeel block to be commercial grade, at the Bijell-1 and Bakrman-1 wells of the block, located in the Kurdistan region in the northern part of Iraq.
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Commerce
| October 30, 2013
A shop of products from India and other ‘exotic’ places, as well as a provider of Ayurvedic and Yoga services, in downtown Budapest caters to foreigners and Hungarians alike. It is also an 'institution' that helps attract Indian businesses to Hungary.
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Automotive industry
| October 28, 2013
This November will see two automotive exhibitions in Budapest: the traditional ‘Autótechnika’ (of automobile service and maintenance) and the new ‘Automotive Hungary’ that covers manufacturing and the affiliated fields in Hungary.
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Consultancy
| October 25, 2013
Tata Consultancy Services’ first Global Delivery Center, the company’s first such operation outside India, was established in Budapest in August 2001. It was one of the IIndian companies supporting the India country focus section in Diplomacy & Trade.
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| October 24, 2013
Hungarian bus and truck manufacturer Rába has received another order from Sweden's Vinga Bus for five S91 buses, thanks to positive feedback on quality and operability on earlier exports to Sweden, Rába said in a stock exchange statement.
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Automotive industry
| October 18, 2013
“There is no better proof of Peugeot’s imperturbability than that a small French firm, started more than 200 years ago, has grown to be a global concern,” the Managing Director (MD) of Peugeot Hungária, Gábor György Kutas points out to Diplomacy & Trade.
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Insurance
| October 15, 2013
Groupama Garancia was one of the companies supporting the publication of the recent France country focus of Diplomacy & Trade. The CEO of the company, Yann Ménétrier talked about the company’s presence on the Hungarian insurance market.
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Electronics industry
| October 10, 2013
Legrand, the world leader in the manufacturing of products and systems for electrical installations and information networks in terms of sales, has been present in Hungary for over two decades. A recent article published in Diplomacy & Trade.
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Energy industry
| October 4, 2013
Hungarian oil and gas company MOL says that if the company decides to sell its shares in its Croatian subsidiaryINA , it will consult with the Croatian government as a potential buyer. The issue is raised as MOL's CEO is wanted in Croatia for questioning.
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Energy industry
| October 2, 2013
E.ON has concluded an agreement to sell its 100% stakes in E.ON Földgáz Trade and E.ON Földgáz Storage to MVM Hungarian Electricity Ltd. The purchase price for both companies, including the assumption of debt, is around €870 million.
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Tobacco industry
| September 23, 2013
Cigarette sales have declined dramatically in Hungary, statistics published by the National Tax and Financial Control Administration (NAV) showed. In the meantime, there are more and more reports of illegal trading of tobacco in the country.
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Medical industry
| September 19, 2013
Danish medical supplies company Coloplast will expand its production capacities in Hungary over the next two years. "We're growing year by year and need therefore more space and more production capacity," said Coloplast CEO Lars Rasmussen in a statement.
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Heavy industry
| August 21, 2013
The Hungarian Ministry of National Economy has issued a press release, which reiterated plans to make a bid for ISD Dunaferr Duna Steel Works and re-privatize the struggling industry behemoth, the financial website portfolio.hu reports.
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Chemical Industry
| August 2, 2013
Procter&Gamble (P&G) is to build a new greenfield factory in Gyöngyös, northeastern Hungary, the corporation's second plant in this country, with an investment of HUF 19 billion (EUR 63.5 mn), the company’s representatives announced on Friday.
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Oil industry
| July 31, 2013
General Electric (GE) has announced this Wednesday that it will expand the activities of its Fót-based (Hungary) Oil & Gas business, east of Budapest, by a 6,000-square-meter new production hall and an office building to go with it.
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Media
| July 22, 2013
In partnership with Business Consulting & Media and its Hungarian branch, Mediarey Kft., Forbes’ latest local-language edition, Forbes Hungary will be published as of November 2013. They do not seem to believe in the decline of the printed press.
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Tourism
Rudolf Sárdi | July 1, 2013
The driving force behind ATF TRAVEX, the longest-running annual ASEAN leisure travel trade event is to boost regional cooperation and attract more tourists to all the ASEAN member countries, most importantly to Laos.
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Automotive industry
| June 24, 2013
Germany's ThyssenKrupp concern inaugurated a new plant in Győr, Northwest Hungary, which was completed with an investment of HUF 1.2 billion (EUR 4 million). Vehicle manufacturing, especially German companies, plays a key role in Hungary industry.
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Automotive industry
| May 31, 2013
Sales by Mercedes-Benz Manufacturing Hungary Ltd. were close to EUR one billion in its first partial year of production. According to company court data, only a fraction, EUR 2.5 million, was realized from the Hungarian market.
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Tourism
Réka A. Francisck | May 22, 2013
Located at the crossroads of Europe, Croatia has some 5,835 kilometers of coastline coupled with Mediterranean-style culture and food, not to mention seven UNESCO World Heritage sites, including the Old City of Dubrovnik and the Plitvice Lakes National Park.
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Food industry
| May 17, 2013
Kristijan Sabo, the new Managing Director (MD) of Podravka International Ltd., is spending his first weeks in Hungary, learning about his new business environment. He talks to Diplomacy & Trade about the work that awaits him in this position.
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Hospitality
| May 14, 2013
This year, Corinthia Hotel Budapest commemorates the 10th anniversary of its reopening. A major series of celebrations are staged throughout the year, the latest event being the Open Day on May 26 during which the hotel can be visited by the general public.
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Airline industry
| May 2, 2013
As of this week, El Al Airlines of Israel flies its Budapest-Tel Aviv route once a week with a Boeing 747-400 aircraft. The first Jumbo Jet landed at Budapest airport this Tuesday. The same type of plane will fly this route for the next seven weeks.
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Tourism
Rudolf Sárdi | April 30, 2013
A story of successes in the Balkans. That is how our author, Rudolf Sárdi describes this small country in the Western Balkans, based partly on his conversation with Delfin Pllana, Deputy Head of Mission at the Kosovar Embassy in Budapest.
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Information technology
| April 24, 2013
The American company well-known for its Internet search engine, Google, has announced the Hungarian launch of Google Street View, an online service that offers panoramic street-level imagery taken throughout the country.
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Automotive industry
| April 12, 2013
Germany's Knorr-Bremse Group, the world’s leading manufacturer for braking systems for rail and commercial vehicles, has laid the foundation stone of a new manufacturing and development base in Kecskemét, east-central Hungary.
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Food industry
| April 3, 2013
Fornetti, the Hungarian bakery known for its on-the-spot baked products from frozen base material, has opened a shop in the UK capital recently. The Hungarian company has signed a master franchise agreement with its British partner.
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Banking
| March 27, 2013
The European Bank for Reconstruction and Development (EBRD) has named Hungary's former central bank Governor András Simor as Vice President for Policy. Reporting directly to the President, he will also be a member of the Bank’s Executive Committee.
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Construction industry
| March 20, 2013
Hungary-based real estate mammoth TriGránit Management Corporation (TGM) announced to have won the full Property Management mandate for South Sofia Ring Mall, a unique project housing various facilities, portfolio.hu reports.
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Automotive industry
| March 4, 2013
Japanese car parts maker TS Tech Co. Ltd. is setting up a plant in Százhalombatta, south of the Hungarian capital, Budapest. The Hungarian subsidiary, TS Tech Hungary Ltd., is to be established with a capital of EUR 3 million.
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Travel
| February 28, 2013
The Travel exhibition, the biggest travel fair of Hungary, opened this Thursday at the Hungexpo fair site in the Hungarian capital, inviting visitors to get to know the attractions, the culture and gastronomy of several countries from the five continents.
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Food industry
| February 20, 2013
A regional center in Budapest will be responsible for operations in Hungary, the Czech Republic, Slovakia and Croatia in the new European organizational structure of French food group Danone, the company said in a statement.
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Automotive industry
| February 14, 2013
German car manufacturer Opel is expanding its engine factory in Szentgotthárd, southwestern Hungary. The project is worth EUR 130 million, which will create 160 new jobs and increase production space by 1600 square meters.
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Aviation industry
| February 1, 2013
Passenger traffic at Budapest Airport decreased by less than 4.7% last year, in spite of the loss of its base carrier and the protracted global economic crisis. The airport handled a total of 8,504,020 departing and arriving passengers in 2012.
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Telecommunications
| January 25, 2013
The European Commission has launched an infringement procedure against Hungary concerning a levy on phone calls and text messages introduced in 2012, the Hungarian news agency MTI learned from unnamed sources.

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Service sector
| January 24, 2013
Systemax, one of Europe’s largest computer products sellers, is to open a new service center in Budapest, from where it will provide support services for European, Middle Eastern and African markets. It is to open in the spring of 2013.
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Trade
| January 7, 2013
“I love this country with all its problems, I love all the people,” wine merchant Alessandro Balli, an Italian businessman, a prominent member of the Italian community in Hungary told the Italian Focus in a recent issue of Diplomacy & Trade.
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Automotive industry
| December 27, 2012
Factory-leaked photos have appeared about the upcoming Mercedes-Benz CLA model, a four-door version of the A-Class model, with coupe-like body. After the B-Class, CLA will be the second model, built in the Hungarian factory of Mercedes-Benz.
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| December 17, 2012
Celanese Corporation, a global technology and specialty materials company that engineers and manufactures a wide variety of products essential to everyday living, set up its Business Services Center in Budapest in 2007. Interview with Scott Thornton.
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Aviation industry
| December 13, 2012
The Aviation Authority has launched administrative proceedings to investigate the circumstances of a technical fault that forced Liszt Ferenc International Airport to shut down on December 7 from noon on Friday till Saturday morning.
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Aviation industry
| December 8, 2012
Traffic returned to normal on Saturday afternoon as Budapest Airport was re-opened following shutdown of its operation just before noon on Friday due to electric problems. The problem was fixed and flights resumed from 7 a.m. on Saturday
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Investment
| December 5, 2012
The 4th China Brands Exhibition and Forum opened on the 4th of December at AsiaCenter’s CBTC in Budapest. More than a hundred capital-intensive Chinese manufacturers exhibit their products for potential CEE business partners for three days.
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Electronics industry
| December 1, 2012
Flextronics International, the largest electronics manufacturing services provider in Hungary, has announced the layoff of 1,100 employees from its Zalaegerszeg plants. The staff cut starts on Monday and takes place in three stages.
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Energy industry
| November 30, 2012
Hungarian Prime Minister Viktor Orbán and E.ON Chairman-CEO Johannes Teyssen have signed a letter of intent, which states that state-owned energy firm MVM will buy the German utility company's gas trading and storage units located in Hungary.
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Aviation industry
| November 27, 2012
Budapest Airport is set to develop a new business park area on the southern edge of the airport. Although, the area has been out of use for long time, it was marked in the development plans as the site of a future business and commercial park.
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Food industry
| November 21, 2012
French vegetable producer Bonduelle has built a new, 5,000-square-metre warehouse in Békéscsaba, southeast Hungary, in a EUR 1.5 million investment project. The company says it has further investment plans lined up.
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Automotive industry
| October 18, 2012
Hankook will expand its Hungarian facility in an over HUF 2.4 billion (EUR 8.7 m) investment project, co-financed by the European Regional Development Fund (ERDF), setting up a new production hall for a new compound mixing unit to increase effectiveness.
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Automotive industry
| October 8, 2012
Hungary’s industrial production rose by 2.6% month on month in August, according to data adjusted seasonally and by working days, the Central Statistics Office (KSH) has reported on Friday. This comes after a 1.2% decline in July.
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Automotive industry
| September 20, 2012
Hungarian Prime Minister Viktor Orbán and Deputy Chairman of Opel’s Management Board Thomas Sedran, inaugurated a new EUR 500 million flexible engine factory at the Opel plant in Szentgotthárd, W Hungary, creating 800 new jobs.
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Construction industry
| September 19, 2012
Hungary's TriGránit Development Corporation and the People’s Government of Putian City, Fujian Province in Southeast China signed a Letter of Intent on development and construction of a large urban center and a leisure complex.
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Automotive industry
| September 13, 2012
Investment expert Csaba Kilián has been named as the new General Secretary of the Association of the Hungarian Automotive Industry (MGSZ). He has long been involved with the industry during his activities as investment promotion director.
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Oil industry
| September 12, 2012
Croatian energy group INA has announced that it has made a new oil discovery with exploratory well Deletovci-1 Zapad within the oil field Privlaka near the town of Vinkovci. The latest tests show daily oil production of around 600 barrels per day.
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Household products
| September 7, 2012
The vacuum cleaner factory in Jászberény, SE of Budapest, that supplies the European market, has been committed to innovation for 14 years within Electrolux that celebrates the 100th anniversary of vacuum cleaner innovation this year.
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Legal industry
| August 29, 2012
bpv | JÁDI NÉMETH is the founding member of bpv | LEGAL alliance operating as an association of independent law firms with local offices in key locations such as Baden, Bratislava, Brussels, Bucharest, Budapest, Mödling, Prague and Vienna.
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Automotive industry
| August 21, 2012
The Hungary-based Mercedes-Benz plant of German carmaker Daimler plans to double its current 150,000-unit capacity. The expansion of the Kecskemét-based Mercedes plant, absorbing HUF tens of billions, may start in 2013.
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Information technology
| August 16, 2012
This summer, the Hungarian Mobile Wallet Association celebrated the first anniversary of its foundation. Diplomacy & Trade talked to a member of the Board, Norbert Hovanyecz about the technology used and the plans for the future.
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Nuclear industry
| August 7, 2012
This year, the Hungarian firm Ganz Engineering and Energetics Machinery llc. (Ganz ЕЕМ), part of Russia’s Atomenergomash, will supply a batch of pumps for the third reactor – under construction – of nuclear power plant in Rostov, eastern Russia.
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Machinery industry
| July 13, 2012
Linamar Hungary, a manufacturer of agricultural and construction machinery with a growing automotive parts division, opened a new manufacturing unit of 7,600 sqm at its Békéscsaba location in southeastern Hungary.
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Automotive industry
Sándor Laczkó | July 12, 2012
The Mercedes assembly plant, operated by Mercedes-Benz Manufacturing Hungary Ltd, in Kecskemét, east central Hungary, began production this spring. the June issue of Diplomacy and Trade carried an interview with the CEO.
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Hospitality
BOB | July 5, 2012
Hotel Le Meridien in Budapest has just introduced its brand new White Lounge champagne and wine bar. The opening celebration included a performance of Hungarian piano player László Pecek Lakatos and culinary specialties.
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Information technology
| July 3, 2012
Constantly developing and redeveloping is the key to a successful business, according to the management of Duna Elektronika, a dynamically growing IT firm that provides cost effective, modular IT services for both global accounts and SMEs.
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| June 29, 2012
The Canadian-listed energy company, which specializes in unconventional oil and gas exploration, is to move its technical operations from Denver, Colorado in the United States to the company's existing office Budapest in the coming months.
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Tourism
Press Release | June 27, 2012
On June 11, Lao Airlines received International Organization for Standardization (ISO) certification for ticket sales and booking services. The certificate presentation ceremony took place in Vientiane Capital, Laos.
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Tourism
| June 15, 2012
CITY TOUR Hop on Hop off Ltd. won the open procurement tender for the provision of daily ‘hop-on-hop-off’ sightseeing bus tours with a net amount offer of HUF 125.9 million. The tender announcement included an estimated net figure of HUF 200 million.
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Hospitality
| June 13, 2012
The owners of the Mellow Mood Group, Mr. Sameer Hamdan and Mr. Zuhair Awad were awarded the Gold Cross of Merit of Hungary for their activities in Hungarian hotel development in which they have long been involved.
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Automotive industry
| June 1, 2012
The number of new passenger car registrations has grown in Hungary in May compared to the same month of 2011. This was the 5th month in a row when a year-on-year increase was recorded. Suzuki's figures continue to be impressive.
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Aviation industry
| May 30, 2012
The last departing flight from Terminal 1 at Budapest Airport left for Stuttgart, Germany Tuesday night. The terminal is expected to be closed for five years for reduced traffic. So, as of May 30, all carriers use Terminal 2.
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Innovation
Réka A. Francisck | May 24, 2012
Carl Zeiss has been revolutionizing the eyeglass market since April 1, 1912 when it introduced PUNKTALŸ, the first precision eyeglass lens. The German company’s lens plant can be found in Mátészalka, Northeast Hungary.


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Automotive industry
| May 22, 2012
The Hungarian Opel engine production plant sees a jump in production volumes ahead, thus, it expects to hire hundreds new employees over the next three years to work in the company’s plant in Szentgotthárd, southeastern Hungary.
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Transport industry
| May 14, 2012
A transport authority in Florida ordered another contingent of Hungarian buses from the NABI company, following an order last year. Another Hungarian bus manufacturing company, Kravtex unveiled its new model.
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Investment
| May 11, 2012
Hungarian oil and gas group MOL is to invest further USD 250 million in Kazakhstan where an oil production project is expected to be launched in 2015. Preparatory works are led by MOL there, according to MOL Chairman-CEO Zsolt Hernádi.
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Aviation industry
| May 3, 2012
Budapest Airport has signed 5-year lease agreements with two of the surviving Malév subsidiaries, Malév Ground Handling and Aeroplex that carry on their service operations at the airport, serving their corporate partners.
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Investment
| April 19, 2012
Denmark’s Grundfos, one of the world's leading pump manufacturers, is to build its fourth Hungarian pump factory in Székesfehérvár (60 kilometres west of Budapest) in a HUF 4 billion (EUR 13.46 m) green-field investment.
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Automotive industry
| April 16, 2012
Johnson Controls, a global leader in automotive seating, overhead systems, door and instrument panels and interior electronics, has launched production at a new facility in Kecskemét for the local Mercedes plant.
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Tourism
Réka A. Francisck | April 11, 2012
Hotel Thermenhof Paierl features a quiet and tranquil atmosphere, gourmet cuisine, top service and a private spa and wellness center with an impressive selection of services to restore and pamper guests at the highest level.
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Energy industry
| April 4, 2012
PHI Group, Inc., a company focused on energy and natural resources, announced that it has signed an agreement to acquire a 51% equity interest in Vietnam-Hungary Technological Application Joint Stock Company (VHC).
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Automotive industry
| March 29, 2012
Mercedes’ new plant was inaugurated in Kecskemét, East Central Hungary, on Thursday in the presence of Prime Minister Viktor Orbán and Dr Dieter Zetsche, CEO of Daimler AG. The day also saw the start of the production of the new B Class models.
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Banking
Sándor Laczkó | March 23, 2012
On the occasion of this week's Hungary-Latin America Forum in Budapest, Jaime Gornsztejn of the Brazilian Development Bank gave an exclusive interview to Diplomacy & Trade about the business opportunities Brazilian firms look for in Hungary.
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Automotive industry
| March 21, 2012
New investors and Chinese-owned companies that are already active in Hungary but in different sectors show interest and can enter the local car parts production scene, the business daily Napi Gazdaság reported on Wednesday.
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Automotive industry
| March 2, 2012
Following an increase in the figures in January, the number of new passenger car registrations has grown in Hungary once again in annual terms in February, too, the financial website portfolio.hu quotes Datahouse data.
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Electronics industry
| February 8, 2012
Finnish electronics giant Nokia has announced the lay-off of 2,300 people from its smartphone factory in Komárom, northern Hungary. The Hungarian Ministry of National Economy and Nokia will establish a workgroup to help the laid off workers.
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Aviation industry
Sándor Laczkó | February 3, 2012
Based on the Board of Directors’ decision, Hungary’s national airline ceased its operation to minimize its losses. According to the company's statement, after nearly 66 years of continuous operation, Malév aircrafts will not depart from 6 a.m. on February 3.
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Telecommunications
| February 2, 2012
Three Hungarian companies and a consortium comprising three local enterprises have won frequency blocks in the 900 MHz frequency band in a tender for the country’s fourth mobile service provider. Winning bids total HUF 43.9 billion + VAT.
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Nuclear industry
| January 12, 2012
Hungary is the second safest country in the world regarding the storage of nuclear materials. That according to the Washington-based Nuclear Threat Initiative that has compiled a list after surveying hundreds of establishments all over the world.
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Real estate
| December 20, 2011
Hungary-based real estate developer TriGránit has sold a majority stake in four of its Budapest buildings for some HUF 45 billion (EUR 148.12 m). The buyer is U.S.-based Heitman European Property that alreadyí bought Croatian assets from TriGranit.
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Automotive industry
| December 14, 2011
Hungary's National Development Ministry and National Asset Management Agency (MNV) jointly announced that the the state has acquired controlling interest in the exchange-listed Hungarian automotive company Rába after a public tender.
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Tourism
Tamás Varga | December 12, 2011
The Business Class of Swiss Airlines has been awarded the title 'Best Business Class in Europe' at this year's World Travel Awards. Our travel expert, Tamás Varga took the Zurich-Chicago route to experience what this class has to offer.
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Automotive industry
| December 5, 2011
As announced on Monday, the Hungarian unit of German carmaker Audi is to invest over HUF 2 billion (EUR 6.64 m) in a new vehicle development division in the northwestern Hungarian town of Győr. The new facility will create 70 jobs.
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Sports
Réka A. Francisck | October 28, 2011
Golf is a great game: sometimes rewarding, sometimes frustrating but highly addictive. As the joke goes, “The man who takes up golf to get his mind off his work soon takes up work to get his mind off golf.”
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Printing
Sándor Laczkó | October 27, 2011
Managing Director György Németh says Océ is actively involved in all operations related to printer equipment: from the design and manufacture through to sales and service, to providing business services with financing.
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Telecommunications
Sándor Laczkó | October 25, 2011
Hungaro DigiTel endeavours to create a win-win situation in customer relations, says the company's general manager, António Felizardo in a recent interview with Diplomacy and Trade in the shadow of huge satellite antennas.
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Insurance
Sándor Laczkó | October 14, 2011
The Hungarian government plans to impose a new tax on vehicle owners. The new 'accident tax’, 30% of the current compulsory vehicle liability insurance would be paid by the car owners but collected by the insurer. 'Chips tax' is to be raised.
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Telecommunications
Sándor Laczkó | September 29, 2011
The European Commission has found Hungary's surtax on the telecom sector in breach of EU regulations but the Hungarian government says it will not revoke the tax and is willing to defend it before the European Court of Justice if needed.
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Banking
Sándor Laczkó | September 27, 2011
Erste Group would not invest resources earmarked for business development in Hungary. It will, however, ensure sufficient capital for capital adequacy and liquidity to its Hungarian unit, Erste Group chairman-CEO Andreas Treichl said.
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Construction industry
Sándor Laczkó | September 16, 2011
The long-lasting decrease in Hungary’s construction output also continued in July. The production volume the construction sector declined by 0.8% month on month in July, according to seasonally adjusted figures.
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Press Release | September 2, 2011
RE project development ltd launched a campaign for the safety of people working in office buildings with the title ‘REvive’. The aim is to provide defibrillator for employees of tenants in office buildings and to give life-saving skills and practical experience as well.
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Banking
Sándor Laczkó / portfolio.hu | September 1, 2011
Officers at the Hungarian Banking Association are not yet sure how to interpret Prime Minister Viktor Orbán's Wednesday morning statement that "splitting losses" will be a key priority task this fall, an official at the Association said.
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Airline industry
Sándor Laczkó | August 23, 2011
Hungarian Airlines Malév is to get a HUF 8.5 billion (EUR 31.17 m) capital injection from the state that is re-channeling this sum in the budget as an extraordinary government measure. The carrier already got an injection in June.
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Telecommunications
Sándor Laczkó | August 12, 2011
The latest "State of the Internet Report" says Hungary is among the top countries in the world regarding the average connection speed, the proportion of broadband connections and penetration from mobile networks, as well.
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Commerce
Sándor Laczkó | August 10, 2011
In early 2012, a new retail format, a multi-level Outlet Plaza will open its doors in central Budapest. The 10,000-square-meter retail center is a new retail format in Hungary, as outlets are usually located outside of the city.
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Gastronomy
Gábor Buday | July 12, 2011
Hungarian restaurateur George Lang passed away on the fifth of July in his home in New York City at age of 86. Born in Hungary, he learned music, his fate took him to New York city where he gave up music and got involved in gastronomy.
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Automotive industry
Sándor Laczkó | June 29, 2011
This week sees the end of production at the Miskin plant of the German automobile components manufacturer Bosch in South Wales as work is transferred to the company's plant Hungary where labor costs are lower.
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Innovation
Alica Árvay | June 28, 2011
ArchiCAD, a 3D architectural design software revolutionized architectural planning all over the world. As one of Hungary’s most important innovations, it has reaped great successes of all kinds for its inventor: rewards, recognition, profit.
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Aviation industry
portfolio.hu | June 10, 2011
A recent government decision has approved plans for Hungary to divest its stake in Budapest Airport, the company which operates the city’s Ferihegy Airport. The decision has appeared in the latest issue of the Hungarian Gazette.
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Automotive industry
Sándor Laczkó | June 1, 2011
New car registration in Hungary grew by 12.1% year on year in May 2011, Datahouse statistics showed on Wednesday. Some analysts suggest that the new buyers may be those well-paid who are favored by new flat-rate income tax.
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Aviation industry
Sándor Laczkó / portfolio.hu | May 27, 2011
Malév Hungarian Airlines incurred a loss of HUF 24.56 billion (EUR 91.32 m) in 2010, the carrier’s balance sheet approved by a shareholder meeting on Friday showed. The figure is a bit better than the year before but worse than projected.
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Energy industry
Sándor Laczkó | May 24, 2011
Hungary has bought back a 21.2% stake held by Russia’s Surgutneftegaz in fuels group MOL. The deal, to be completed August 31st this year, is worth EUR 1.88 billion and will be paid for from previously drawn IMF grants.
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Insurance
Sándor Laczkó | May 19, 2011
The insurance company Groupama Garancia confirmed its market position in Hungary in 2010, following its well-defined strategy. CEO Yann Menetrier gave an overview of the company’s situation, the business environment, and its plans.
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Gastronomy
Réka A. Francisck | May 17, 2011
A manufacturer of fine silver flatware and home accessories, the House of Christofle, possesses an exceptional heritage that retraces a rich history spanning nearly two centuries. Its clients in Hungary include the country's two Michelin star restaurants.
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Electronics industry
Sándor Laczkó | May 13, 2011
Half a century – the Legrand plant in Szentes, southeast Hungary, celebrates its 50th anniversary in 2011. If you also consider its legal predecessors in Hungary, the period to celebrate is over nine decades.
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Healthcare
Sándor Laczkó | May 12, 2011
A new EU task force met for the first time this week on the fringes of e-Health week in the Hungarian capital to assess the role of information and communications technologies (ICT) in health and social care.
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Innovation
Alica Árvay | May 11, 2011
For innovation social trust is needed and in Hungary, especially in a wider European context, it is much harder as this country faces dual challenges - says professor Elemér Hankiss, the founder of the Invent Hungary Again! movement.
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Telecommunications
portfolio.hu | May 4, 2011
Hungary’s Magyar Telekom, controlled by Deutsche Telekom, has announced on Wednesday that it has embarked on a large scale modernisation of its mobile network with its long-standing partner, Ericsson.
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Automotive industry
portfolio.hu | May 3, 2011
Hungary’s vehicle market has been stagnating for two months now and just like in March, new passenger car registrations have hardly changes in April compared to the same month of 2010, the latest figures of Datahouse showed on Monday.
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Transport industry
portfolio.hu | April 21, 2011
Hungary’s state-owned railway company MÁV has signed an agreement with China Railway Construction Coproration to receive technological, construction and financing tools for the modernisation of MÁV from the Chinese company.
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Aviation industry
Sándor Laczkó | April 20, 2011
The entire management and the offices of Malév Hungarian Airlines will move to Budapest’s international airport. According to plans, three modernized office buildings await the some 600 employees of the company.
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Automotive industry
Sándor Laczkó | April 12, 2011
Construction work of a new Opel engine factory began this Tuesday with the laying of the foundation stone in the southwestern Hungarian town of Szentgotthárd. The new plant will manufacture engines of the latest technology.
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Airline industry
Sándor Laczkó | April 6, 2011
US air carrier American Airlines has begun a new non-stop daily service between New York City's JFK airport and the Hungarian capital Budapest. The first flight landed in Budapest Wednesday morning and returned to JFK before noon.
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Corporate issues
| March 30, 2011
Krauthammer, a coaching, consulting and training company, has been operating for 40 years. The organization - with the slogan 'Keep it short and simple' - present in 23 countries in Europe, Asia Pacific, the United States and South America.
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Telecommunications
Sándor Laczkó | March 29, 2011
The National Development Ministry plans to auction the 900-megahertz band and the winning telecommunications operators are expected to have access to the frequencies in the third quarter in Hungary.
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Innovation
Alica Árvay | March 28, 2011
Innovation could be considered from the talent side. How much do we know about the specific needs of the talented, gifted people who have a great variety of endowments? We asked prof. Péter Csermely, the Head of the Hungarian Genius Program.
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Agrarian industry
Sándor Laczkó | March 23, 2011
The explosion of fodder prices resulted in tragic fate for tens of thousands of ducklings in two Hungarian counties as entrepreneurs raising ducks denied to receive them despite having ordered them weeks before.
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Electronics industry
| March 22, 2011
The main reason the Korean company Samsung SDI chose Hungary as a base in Europe ten years ago was that Hungary has the advantage of competitiveness in its infrastructure (manpower, local material suppliers).
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Aviation industry
portfolio.hu | March 22, 2011
Martin Gauss, chief executive of Hungarian airline company Malév, has tendered his resignation, the Hungarian State Holding Company (MNV) has announced on Tuesday. His departure is effective as of May 31.
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Automotive industry
| March 21, 2011
““A lot has changed in the past three years since Diplomacy and Trade visited Hankook” says Sang Il Lee, managing director of Hankook Tire Hungary ltd. He proudly states that in 2010, the company exceeded the original target by over 10%.
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Construction industry
portfolio.hu | March 21, 2011
Orders figures in the Hungarian construction industry are greatly disappointing, with no signs of a revival in the sector any time soon. Still, the 0.1% month-on-month contraction is an improvement compared to the 4.3% decline in December.

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Réka A. Francisck | March 18, 2011
Terminals 2A and 2B of Budapest's international airport are now linked with a new building, SkyCourt. Airport management and the architects hope that the new building will enchant foreigners visiting the Hungarian capital.
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Electronics industry
| March 17, 2011
From its inception as a small export business in Taegu, Korea, SAMSUNG has grown to become one of the world's leading electronics companies, specializing in digital appliances and media, semiconductors, memory, and system integration.
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Electronics industry
| March 14, 2011
“We endeavor to provide our customers with the best products of smart technology in stylish design.” The words of the Managing Director (MD) of LG Electronics Magyar Ltd., Young W. Lee, well describe the mission of the Budapest-based company.
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Automotive industry
| March 11, 2011
South Korea's HYUNDAI is now the world’s 5th largest car manufacturer. Zoltán Markó, the managing director of Hyundai Holding Hungary Ltd. proudly claims that 2010 was a good year for the brand, selling over 3.6 million vehicles globally.
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Chemical Industry
Source: Press release | March 10, 2011
Commemorating the achievements of one of the most important science fields of human kind, the UN decided to declare 2011 the International Year of Chemistry. To mark this program, a unique online chemistry knowledge base has been developed.
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Telecommunications
MTI | March 7, 2011
Internet subscriptions in Hungary exceeded 3.3 million at the end of December last year, up an annual 5.8%, down from a rise of 21.3% in 2009, the country's Central Statistical Office (KSH) said on Monday.
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Economic relations
Sándor Laczkó | March 7, 2011
The mission of the Korean Business Office in Budapest is helping Korean companies interested in penetrating Hungarian market and connecting Hungarian buyers interested in Korean products and/or services.
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Innovation
Alica Árvay | March 4, 2011
‘Recovery from this recession is dependent on innovation. The time to invest is now’ - said the EU Commissioner for Innovation, and yet, looking at Hungary's place at SII, it is obvious that there is a great room for development.

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Automotive industry
MTI/Heti Válasz | March 3, 2011
The website of Antro, a revolutionary Hungarian car design company, is more and more popular since Time magazine listed the company's super-light electric vehicle as one of the 50 best inventions of 2010, the weekly Heti Válasz says.
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Telecommunications
MTI | February 28, 2011
The government plans to help make broadband internet available in the whole of Hungary as part of competitiveness-boosting and IT development measures, the state secretary for infocommunications announced on Monday.
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Public transport
MTI/Napi Gazdaság | February 22, 2011
Ticket sales by the Budapest public transport company did not increase in the past year despite a significant rise in fuel prices over the same period, the Hungarian business daily Napi Gazdaság reported on Tuesday.
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Tourism
Sándor Laczkó | February 9, 2011
Six new hotels (including three-, four- and five-star hotels and an apartment hotel) with 400 rooms are due to be inaugurated in Budapest this year, real estate consultant Colliers International announced on Wednesday.
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Airline industry
MTI/Portfolio | February 8, 2011
American Airlines and Malev will launch a daily direct Budapest-New York flight on April 6, the vice president for the region at the American air carrier, Kurt Stache announced at a press conderence in Budapest on Tuesday.
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Tourism
MTI | February 4, 2011
Most Hungarians in Egypt have left the country by now, the embassy is not aware of any Hungarian citizens gotten into trouble in connection with the violent anti-government riots there, Ambassador Péter Kveck said on Friday.
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Tourism
Advertorial
Réka A. Francisck | January 19, 2011
Nestled amongst the stunning scenery of the Austrian Alps, Hotel Hochschober is renowned for its all-weather activities and facilities featuring unique attractions like a heated lake, a Chinese pagoda or even a Hamam bath.
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Airline industry
Sándor Laczkó | January 18, 2011
Qatar Airways operate four Airbus A320 aircraft a week on a route between Budapest and Doha International Airport with a short stopover in Bucharest as of this January. Direct flights will start in September.
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Nuclear industry
MTI | January 13, 2011
Hungary is mulling plans to build new blocks at its sole nuclear power plant in Paks, south of Budapest, to satisfy a large portion of domestic demand for electricity after 2030, business daily Világgazdaság said on Thursday.
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Foreign relations
Rudolf Sardi | April 21, 2010
Lao Airlines opens its first Hungarian Representation Office in Budapest to nurture the friendly relations between Laos and Hungary.
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