February 5, 2012 Sunday
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Top News
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 Hungarians abroad
Sándor Laczkó | February 1, 2012
 Lynch atmosphere emerged in Guinea Bissau between government officials and a group of Hungarians who participated in a marathon rally between Budapest and West Africa. The dispute concerned the sale of rally cars to the locals. 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 EU affairs
| January 30, 2012
 Ensuring the independence of the central bank (NBH) and guaranteeing the normal functioning of the judiciary are preconditions for the start of formal talks with the IMF and the EU on financial assistance for Hungary, EU Commissioner László Andor says. photos National day
| January 26, 2012
 Australia Day, commemorating the arrival of the First Fleet at Sydney Cove in 1788 and the proclamation at that time of British sovereignty over the eastern seaboard of New Holland, was celebrated this Thursday in Budapest. photos Employment
| January 24, 2012
 The world faces the “urgent challenge” of creating 600 million productive jobs over the next decade in order to generate sustainable growth and maintain social cohesion, says the 2012 annual report of the International Labor Organization. photos Investment
| January 19, 2012
 Danish toymaker Lego will start construction of an 80,000-sqm plant in Nyíregyháza, NE Hungary this summer, according to, the general manager and vice-president of Lego Manufacturing Ltd., Lego’s Hungarian subsidiary. photos Terrorism
| January 18, 2012
 Two Hungarians have been killed in an attack in northern Ethiopia and another Hungarian was slightly injured, Interpol's office in Ethiopia said. Two Germans and an Austrian were killed with two Germans and two Ethiopians kidnapped. photos | January 16, 2012
 Hungarian Foreign Minister János Martonyi is of the view that the key among the Hungarian laws objected by the European Commission is the new Central Bank Act, and also the most important for start the talks with the IMF and the EU. photos Business club
Rudolf Sárdi | January 10, 2012
 To develop the relations between Latin America and Hungary, the Latin American Union, named LATIMO, was founded on Nov 28, 2011 by former diplomats, business people, commercial and economic experts and technical specialists. photos Aviation industry
| January 9, 2012
 The European Commission found that financing granted to Hungarian flag carrier Malév between 2007 and 2010 in the context of its privatisation and renationalisation constitutes illegal state aid and must be repaid to the state. photos Domestic issues
| January 6, 2012
 Hungarians are most concerned about losing their jobs or becoming poor, an international survey by the Ipsos group conducted in 27 countries late last year and now released to the Hungarian news agency MTI shows.  photos Hungarian economy
| January 4, 2012
 EU executive José Manuel Barroso has called on Hungarian Prime Minister Viktor Orbán to ensure that the nation’s Central Bank remains independent despite a controversial reform that gives the government more control over the bank. photos Economy
| December 30, 2011
 The governing Fidesz majority of Hungarian Parliament has ruled that from now on, the National Bank of Hungary may get a government-appointed Vice Governor, the headcount of the rate-setting Monetary Council can be increased. photos Economy
| December 29, 2011
 The Hungarian government’s "insistence on its unorthodox policy mix, together with an ill-founded hope that international lenders will eventually drop their provisions," Roubini Global Economics sums up Hungary's current situation in its latest research. photos Int'l relations
| December 27, 2011
 Coming on the heels of a warning message from European Commission President José Manuel Barroso, Hungary's Prime Minister Viktor Orbán has now received another tough message - this time from no other than US Secretary of State Hillary Clinton. photos Int'l relations
| December 19, 2011
 The Governments of Hungary and the United States issued a joint press release on the occasion of the ninetieth anniversary of the establishment of diplomatic relations. Bilateral relations are "based on qualitatively new foundations" since 1989. photos Budget policy
| December 16, 2011
 Preparatory talks between Hungary's government, the IMF and the European Union on a precautionary loan were interrupted on Friday, Amadeu Altafaj Tardio, spokesman for Economic and Financial Commissioner Olli Rehn said. photos Int'l relations
Sándor Laczkó | December 15, 2011
 Hungarian Foreign Minister János Martonyi held talks on closer cooperation with Libya and Hungary's involvement in post-war reconstruction in the Libyan Tripoli in mid-December. Hungary would like to actively join in the reconstruction of Libya. 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 Budget policy
| December 13, 2011
 Talks between the Hungarian government and international organizations about a financial safety net began this Tuesday. Despite earlier government statements, Hungary is likely to get a credit facility with the same conditions as in 2008. photos Government
| December 8, 2011
 The Hungarian Minister for National Development Tamás Fellegi announced that he had tendered his resignation, asking the prime minister to relieve him of his post so that he has time to perform other important duties. 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 Finance
| November 29, 2011
 Hungary’s central bank (MNB) has raised its key policy rate by 50 basis points to 6.50% on Tuesday, in line with expectations. Although today’s rate call was in line with expectations, it does represent a turnaround in monetary policy. photos Finance
| November 25, 2011
 Moody's Investors Service has downgraded Hungary's government bond rating by one notch to Ba1 from Baa3, and is maintaining a negative outlook. The Hungarian government considers the move as “a series of financial attacks.” photos Economic relations
| November 23, 2011
 Hungary is striving to expand its strategic cooperation with India both in terms of trade and joint investments, Deputy State Secretary in Hungary’s National Economy Ministry, Balázs Hidveghi told a conference on India this Wednesday. photos Chamber
| November 21, 2011
 The American Chamber of Commerce in Hungary (AmCham), established in 1989, aims “to be the leading representative for US and international business in Hungary, and to promote the global competitiveness of the country”.  photos Finance
| November 18, 2011
 Hungary expects to sign a new agreement with the International Monetary Fund (IMF) and the EU early next year, the country's Economy Ministry said on Friday. Hungary, in a reversal of policy, wants to see the IMF act as an "insurance". photos Ambassadors in Budapest
Sándor Laczkó | November 17, 2011
 “Nothing makes me more proud than serving my country in this capacity, it is a tremendous honor,” the Ambassador of the United States of America to Hungary, Eleni Tsakopoulos-Kounalakis tells Diplomacy and Trade.  photos Finance
| November 15, 2011
 The National Bank of Hungary believes the recent depreciation of Hungary’s forint is not justified by the fundamentals of the country’s economy a gradual tightening of monetary conditions may become necessary in Hungary. photos Budget policy
| November 11, 2011
 Attaining the 1.5% GDP growth targeted for 2012 will be "extremely difficult", Hungarian Prime Minister Viktor Orbán said at the London School of Economics on Thursday. The EU projects Hungarian GDP to be 0.5% next year. photos National day
| November 10, 2011
 Hundreds of guests gathered Wednesday evening in the Museum of Fine Arts in Budapest's Heroes' Square to celebrate the Day of Polish Independence at the invitation of Poland's Ambassador to Hungary, Roman Kowalski.  photos Accident
Sándor Laczkó | November 7, 2011
 11 Hungarian tourists were killed and 29 others injured when their bus overturned in the Egyptian resort city of Hurghada, 510 kms from the capital Cairo. Four of the injured - a man and three children - are in serious condition. photos Finance
Sándor Laczkó | November 3, 2011
 Hungarian-born American billionaire investor György (George) Soros said in Budapest this Thursday that the current euro crisis has the potential to destroy the cohesion of the European Union, mainly due to its political nature. photos Chamber
Sándor Laczkó | November 2, 2011
 The chairman of the Portuguese-Hungarian Chamber of Commerce, László Hubay Cebrian talks to Diplomacy and Trade about how the organization wishes to enhance business ties between the Potuguese-speaking world and Hungary.  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 Ambassadors in Budapest
Sándor Laczkó | October 26, 2011
 Distinct courses of history have enriched bilateral relations, says the Portuguese Ambassador to Hungary in an interview published in a recent issue of Diplomacy and Trade, adding that the two countries explore ways of enhancing cooperation. 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 Int'l relations
Sándor Laczkó | October 21, 2011
 Hungary lost in the first round of vote for non-permanent membership in the United Nations Security Council. For a seat for Eastern Europe, both Azerbaijan and Slovenia gathered more votes than Hungary in the first round. photos Finance
Sándor Laczkó | October 18, 2011
 Hungary will have the crisis taxes phased out as of 2013, a National Economy Ministry deputy state secretary confirmed earlier reports on Tuesday. The sectoral taxes are expected to generate HUF 1 billion in 2012.  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 Economic relations
Sándor Laczkó | October 13, 2011
 Hungary hassigned new partnership agreements on EUR 153 million in funding from the European Economic Area (EEA) and the Norwegian Financing Mechanisms the country is getting in the years 2009-2014. photos Int'l relations
Sándor Laczkó | October 9, 2011
 The Presidents of the Visegrad Four group made up of the Czech Republic, Hungary, Poland and Slovakia met tooncluding a two-day summit in Visegrad, just north of Budapest, where the cooperation alliance was established twenty years earlier. photos Employment
portfolio.hu | October 7, 2011
 New regulations took effect on 1 August 2011 concerning the entry, residence and employment of third-country nationals in Hungary. PricewaterhouseCoopers has summed up they key changes in its latest Tax & Legal Alert.  photos Hungarian economy
Sándor Laczkó | October 6, 2011
 Former minister of industry, Péter Ákos Bod, has told an audience of businesspeople in Budapest that - unlike the government - he does not expect economic growth next year, and the level of consumption is likely to remain low. photos History
Tamás Katona | October 5, 2011
 In his article for Diplomacy & Trade, historian Tamás Katona, also a former Hungarian ambassador to Poland, looks at Hungarian-Polish cooperation from a historical perspective - from the birth of the two states to their EU presidencies.  photos Sports
Sándor Laczkó | October 3, 2011
 A record number of participants took part this year in the annual Budapest Marathon Run in the Hungarian capital this Sunday. Organized by the Budapest Sports Bureau, the annual run took place for the 26th time. photos Census
Sándor Laczkó | September 30, 2011
 The population census in Hungary is going to be held between October 1st and 31st 2011. Population censuses in today’s sense of the word have been held in Hungary since 1869, the one to be held this year will be the 15th of them.  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 Cultural Interview
Réka A. Francisck | September 28, 2011
 The Polish Institute in Budapest is one of the world’s oldest Polish Institutes and one of the oldest foreign institutes in Hungary. Director Arkadiusz Bernas talks about the present, the past and the future of the institution. photos Ambassadors in Budapest
Sándor Laczkó | September 21, 2011
 In an interview with Diplomacy & Trade, the Polish Ambassador to Hungary, Roman Kowalski, says that a year after arriving to Hungary, it is a good moment to take the first look back at his activity as ambassador here. photos 
Travel
Réka A. Francisck | January 27, 2012
Despite its prosaic name, Hévíz (the word translates to thermal water) is a magical place. A trip here is an excellent way to brighten up the winter months. Managed by Hévíz Thermal Bath Ltd., the lake is considered a national treasure.
 photos Cultural Interview
Rudolf Sárdi | January 25, 2012
Contributing to social change, engaging with people at a human level, fostering advancement in education and developing intercultural dialogue are only a few of the goals that the British Council has sought to accomplish in recent years.
 photos Culture
Réka A. Francisck | January 23, 2012
Opened in 1999, Hungarian Cultural Centre in London, a multifaceted institute provides a forum for people and ideas, enabling Hungarian artists to introduce themselves in Britain. The piece on it appeared in the December issue of Diplomacy & Trade.
 photos Business club
| January 20, 2012
The Diplomacy and Trade Business Club ('The Club') held its latest networking event at the Hotel Kempinski Corvinus in Budapest, presenting the latest issue of ‘Diplomacy and Trade’ that features a supplement on the Nordic countries.
 photos Exhibition
| January 17, 2012
In remembrance of the Swedish diplomat who saved the lives of tens of thousands of Hungarian Jews in World War II, a series of events called the 'Wallenberg Year' was launched in Budapest on the day he was last seen in 1945.
 photos Sports
| January 13, 2012
Hungarian football (soccer) referee Viktor Kassai has been voted the world’s top football (soccer) referee in 2011 in a survey by the organization IFFHS, pushing previous year’s winner English Howard Webb to second place.
 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 Sports
Sándor Laczkó | January 5, 2012
Hungarian Grand Master Judit Polgár is the best female player in history. An article in the 2011 December issue of Diplomacy & Trade featured an article of the youngest Polgár sister who has ruled the world of women's chess for over two decades.
 photos Tourism
Rudolf Sárdi | January 3, 2012
Lao Minister of Industry and Commerce Dr. Nam Viyaketh delivered a presentation at the Lao Embassy in Vienna about the manifold possibilities and endless business opportunities the country can offer to future investors.
 photos Constitution
| January 2, 2012
Hungary‘s new constitution, which took effect on January 1, omits "republic" from Hungary's official name, and includes several controversial paragraphs objected to by Amnesty International, as well as American and EU officials.
 photos Ambassadors in Budapest
Sándor Laczkó | December 28, 2011
“I am proud of much of our work here – on the environment; the economy and commerce; transparency; and tolerance," Greg Dorey who left his position as British Ambassador to Hungary early December told Diplomacy & Trade.
 photos Domestic issues
| December 23, 2011
Former Hungarian premier Ferenc Gyurcsány - and several Members of Parliament who chained themselves outside parliament in an anti-government protest - were detained Friday among 26 demonstrators, police announced.
 photos Tourism
Rudolf Sárdi | December 22, 2011
In recent years the number of tourists opting for Brazil as their destination has increased considerably as a result of the country’s continued promotion on the Hungarian market. In order to further boost tourism, a tourist workshop was organized recently.
 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 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 bilateral agreement
Rudolf Sárdi | December 9, 2011
Lao and Hungarian government officials discussed cooperation in development projects between the two countries. Laos and Hungary have agreed to boost cooperation in trade, agriculture, education, health, tourism, energy and transport.
 photos Crisis management
| December 7, 2011
In a piece for the 'European Voice', Hungarian Foreign Minister János Martonyi voiced his opinion that governments must force the markets to change their perceptions of the eurozone and bear more common responsibility.
 photos EU affairs
| December 2, 2011
In a recent speech in Berlin, Polish Foreign Minister Radoslaw Sikorski called for deeper solidariity and much closer economic integration in the EU, including greater supervisory powers for the European Commission over national budgets.
 photos Ambassadors in Budapest
| December 1, 2011
The Diplomacy and Trade Business Club ('The Club') held its latest networking event at the British Embassy in Budapest this Thursday to say farewell to the Ambassador of the United Kingdom to Hungary, Greg Dorey.
 photos Ambassadors
Source: press release | November 30, 2011
Laurent Vandenameele, Executive Chef of Le Meridien Budapest's Le Bourbon restaurant was recently honored by the French President for his contribution to French gastronomy. The prestigious award was presented by HE René Roudaut, French Ambassador to Hungary.
 photos law enforcement
| November 28, 2011
Due to an increasing level of international crime with many of the criminal enterprises having their roots in the CEE region, the United States and Hungary established the International Law Enforcement Academy (ILEA) in 1995.
 photos Education
Réka A. Francisck | November 24, 2011
Since its inception in Hungary 33 years ago, the Fulbright program has brought some 900 American scholars, students, artists, and scientists to Hungary, and an equivalent number of Hungarians to America, for research, teaching, and different joint projects.
 photos | November 22, 2011
The newly opened Iberostar Hotel presented itself to the partners of Diplomacy & Trade. The Spanish Iberostar hotel chain opened its first city hotel in the heart of Budapest. The creations of the Spanish chef, Juan Carlos González were a great success.
 photos Science
| November 16, 2011
Earlier than originally planned, the first satellite made entirely in Hungary, Masat-1 may be launched into orbit on the first mission of the new Vega rocket of the European Space Agency from Kourou, French Guyana at the end of January 2012.
 photos EU Presidency
| November 14, 2011
Hungarian Foreign Minister János Martonyi decoratedon Saturday several officials from foreign countries for their efforts to contribute to the success of Hungary’s European Union Presidency during the first half of 2011.
 photos Sports
Sándor Laczkó | November 9, 2011
The President of the Hungarian Olympic Committee, Zsolt Borkai says the target to be achieved by Hungarian participants - whose number is estimated to be 140 athletes - at the Summer Olympic Gamesin in London in 2012 is ten medals.
 photos Charity
| November 8, 2011
Sunday, November the 20th, 2011 the Diplomatic Spouses of Budapest will organize a big Diplomatic Fair to raise money for its charity Institutions and to celebrate the 10th anniversary of the foundation of the organization.
 photos Ambassadors in Budapest
Chung-ha Suh | November 4, 2011
The former ambassador of the Republic of Korea to Hungary, Chung-ha Suh who left Budapest in September, wrote a lovely piece for Diplomacy and Trade about his fascination with music that connect lots Koreans and Hungarians.
 photos Exhibition
László Petrovics-Ofner | October 31, 2011
Hope and pride from one of the darkest periods of Hungarian history may also yield a permanent, positive mark in a new form of tourism, “Resistance Heritage Tourism,“ drawing largely on the Diplomatic Community of WWII Budapest.
 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 Culture
Réka A. Francisck | October 24, 2011
Liszt concerts in Bayreuth, Paris, Prague, Vienna, Vilnius and Seoul: It seems that the whole world has listened to Liszt tunes on the eve of the Hungarian pianist and composer's 200th birthday on October 22.
 photos Culture
Sándor Laczkó | October 17, 2011
Painter Paul Sarkozy, the father of French President Nicolas Sarkozy, has been made the Citizen of Szolnok, the town of his birth in East-Central Hungary, for his work as an artist and for enhancing the image of the town.
 photos Sports
Sándor Laczkó | October 10, 2011
In a preparation match in women's basketball and a farewell game for one of the local players, Hungarian champions Sopron, NW Hungary, received the American national team this past Sunday. The U.S.A. won the match 73-63.
 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 Ambassadors in Budapest
Cecilia Björner, former Swedish ambassador | September 26, 2011
Cecilia Björner whose term as the Ambassador of Sweden expired this summer, says she was fortunate enough to serve in a country so rich in musical traditions, the homeland of such composers of Liszt, Bartók, Kodály or Ligeti.
 photos Hungarians abroad
Sándor Laczkó | September 23, 2011
Former Hungarian water polo player Sándor Tarics, the oldest living Olympic champion in the world, has received the Middle Cross of the Order of Merit of the Republic of Hungary in his home in California in the United States.
 photos Defense
Sándor Laczkó | September 19, 2011
The Hungarian Army will be able to get free of charge military helicopters worth USD five million a piece, which have been withdrawn from service in the United States Marine Corps, and offered to partner countries.
 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 Budget policy
Sándor Laczkó | September 13, 2011
Brussels expressed its concerns over the Hungarian government’s plan to help people with foreign currency-denominated mortgages by allowing debt pay-off well under the market rate. Austria is infuriated and “firmly rejects” the measure.
 photos Crisis management
Sándor Laczkó | September 12, 2011
The latest plan by the government includes measures affecting the cost of borrowing, utilities prices and foreign currency-denominated mortgages. There may be a higher VAT rate for luxury purchases and the public jobs program expanded.
 photos Budget policy
Sándor Laczkó | September 8, 2011
The Hungary's Economy Minister György Matolcsy has proposed increasing the value-added tax on luxury items in a letter sent to European Tax Commissioner Algirdas Semeta, the Ministry of National Economy said in a statement on Wednesday.
 photos Economic relations
Sándor Laczkó | September 7, 2011
Hungarian government representative András Kármán and the British Ambassador to Hungary, Greg Dorey signed a Double Taxation Agreement in Budapest. The agreement reflects modern business developments between the two countries.
 photos Budget policy
Sándor Laczkó | September 6, 2011
Hungary is to further reduce its public debt in October and November, taking it down from 77% of gross domestic product to 73%, Prime Minister Viktor Orbán told a news conference after a cabinet meeting on Tuesday.
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