In a competition organized by the Hungarian organization Autós Nagykoalíció as well as automotive sites Zöldjárműipar.hu and Járműipar.hu, a jury of automotive journalists selected the BMW iX3 as the Hungarian-manufactured vehicle of the year. As in previous years, BMW was honored in the seventh season of the Hungarian Car of the Year competition: this year, […]

From an economic perspective, demographic trends are vital, as they determine the size of the workforce, tax revenues, pension expenditures and the future trajectory of healthcare spending. Declining population – and its possible impact on employment – is one of the longer-term challenges faced by the new Hungarian government, headed by Péter Magyar, coming to […]

Gauges of sentiment by the German-Hungarian Chamber of Industry and Commerce (DUIHK) show an improvement in business confidence after the April 12 election. Presenting the results of the surveys on Thursday, communications director Dirk Wolfer said the share of respondents who expected to see an improvement in the local economy rose from 7% before the […]

Retail sales in Hungary rose 10.6% year-on-year in March, data released by the Central Statistical Office (KSH) on Thursday show. Retail sales rose 8.2% when adjusted for calendar year effects. Adjusted food sales increased 2.6%, non-food sales climbed 8.4% and turnover at petrol stations rose 20.6%. Online and mail-order sales volume, which accounted for 8.8% […]

German carrier Lufthansa has entered a codeshare agreement for flights operated by Skyhub PAD and Danish Air Transport connecting Pécs, S Hungary, and the southern German city of Munich, the head of the Pécs-Pogány Airport, Márk Dragovácz said at a press conference in Pécs. This move by Lufthansa to be an official codeshare partner, thereby […]

A 47-megawatt battery energy storage facility is being built at a cost of 12.5 billion forints on the grounds of the Oroszlány Power Plant through a joint effort by four companies, the project manager Gábor Jeszenszky told MTI. The facility is capable of meeting the needs of MAVIR Plc., which balances the Hungarian electricity system, […]

The American Hungarian Foundation (AHF) has recognized Nobel laureate Katalin Karikó with the George Washington Award, the University of Szeged told MTI on Wednesday. The award was presented to Katalin Karikó at the Hungarian American Coalition's gala marking the United States' 250th anniversary. Hungarian-American biochemist Katalin Karikó – along with American physician-scientist Drew Weissman – […]

Austrian-owned Erste Bank Hungary booked a first-quarter loss of HUF 5 billion as new rules required the lender to book the full-year windfall profit tax in Q1, chairman-CEO Radovan Jelasity said on Wednesday. Erste Bank had after-tax profit of HUF 20 billion in the base period, he noted. Retail lending stock rose 17% to HUF […]

Christian Dickert has been appointed CEO of Mercedes-Benz Manufacturing Hungary and head of production at the German car maker's plant in Kecskemét from May 1, the company's local unit said on Wednesday. A mechanical engineer by training, he has been with Mercedes-Benz since 2011. Over the course of his career, he has gained extensive management […]

Output of Hungary's industrial sector rose 6.7% year-on-year in March, a first reading of data released by the Central Statistical Office (KSH) on Wednesday shows. Output climbed 3.7% when adjusted for the number of workdays. Output increased in most branches of manufacturing, KSH said. Among the biggest, output in the computer, electronic and optical products […]

The 35th Valley of Arts festival, to be held between July 24 and Aug 2 this year in three villages north of Lake Balaton, will feature some 4,500 programs and 5,000-6,000 artists, organizers said on Tuesday. Festival director Natália Oszkó-Jakab stated the festival was built on partnership, respect and a love of diversity. the village […]

The head of the Hungarian Banking Association, Radovan Jelasity called for "more professional discourse" with economic policy makers at a conference organized by business news portal Portfolio. "The time has come again to become much, much more professional, and to acknowledge that economics also has its laws," he said. With the new government set to […]

Geology scholar and university professor Mihály Pósfai has been elected president of the Hungarian Academy of Sciences (MTA) for the next three years. The closed session at the 200th general assembly on Tuesday also elected MTA literature scholar Gábor Kecskeméti as secretary-general, while psychologist Ilona Kovács will take up post of deputy secretary-general. Deputy presidents […]

The number of guests at commercial and private tourism accommodations in Hungary edged up 0.6% to 1,158,000 in March from the same month a year earlier. Meanwhile the number of guest nights inched 0.9% higher to 2,703,000, data released by the Central Statistical Office (KSH) on Tuesday show. The number of domestic guests rose 1.8% […]

Hungary's banking system is capable of boosting its lending to HUF 40,000 billion, National Bank of Hungary (NBH) governor Mihály Varga said at a conference organized by business news portal Portfolio on Tuesday. Local banks' liquidity position is stable and their lending capacity is sufficient, Varga told the conference on lending. The latest data from […]

The Novohrad-Nógrád Geopark, in the border region between Hungary and Slovakia, has won EUR 3,951,000 in funding from the European Union's INTERREG program for supporting territorial cooperation, the managing director of the Nógrád Development Agency, Lilla Körmendy told MTI on Monday. She said the proposed UNESCO site, the Novohrad-Nógrád Geopark and its surrounding area, is […]