February 5, 2012 Sunday
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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.
 photos 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.
 photos Aviation industry
| January 31, 2012
Under a government decree, Hungary’s state-owned airliner Malév is now classified as a company of key strategic importance as of 07 a.m. this Tuesday. This means the company has been taken under bankruptcy protection.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.”
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos Innovation
Sándor Laczkó | August 27, 2011
Sunshine Garage requires little ground space but offers unrivalled technical safety and speed as well as safety of valuables - in congested cities or as a P+R facility. Also, it offers the quickest return on investment in the non-residential sector.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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).
 photos 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.
 photos 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%.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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.
 photos 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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