Croatian oil pipeline operator Janaf and the Mol Group have signed an agreement for the delivery of 2.05 million metric tons of crude oil by 2026, the Croatian company announced on Thursday. Under the contract, a total of 2.05 million metric tons of crude oil will be transported via Janaf’s pipeline system between January 1 […]

Spar Hungary spent more than HUF 1.8 billion to modernize two of its supermarkets in Budapest and one in nearby Dunakeszi, the grocery chain said on Thursday. On Thursday, the company reopened a store in Budapest’s 13th district, which was renovated with an investment of HUF 677.5 million. The sales area has been expanded to […]

Output of Hungary's industrial sector rose 10.1% year-on-year in June, a first reading of data released by the Central Statistical Office (KSH) on Thursday shows. Output rose 4.1% when adjusted for the number of workdays, of which there were two more than in the base period. Output rose in most branches of manufacturing. Among the […]

Erste Bank Hungary’s operating profit rose by 11%, while its net income fell by 20% in the first half of this year compared to the same period last year due to higher tax burdens, the bank’s chairman and CEO, Radován Jelasity announced at a press conference on Wednesday in Budapest. Erste’s operating revenues were 10% […]

A consortium led by the Hungarian Tourism Certification Body has launched a project to develop a digital center that will help industry insiders better visualize and interpret professional data, the body said on Wednesday. The project, which will also produce digital learning materials and offer competency development and mentoring services, is supported by close to […]

Second-quarter after-tax profit of OTP Bank, Hungary's biggest commercial lender, fell 7% year-on-year to HUF 305.8 billion, an earnings report released ahead of the opening bell on Wednesday shows. OTP noted that it had booked the full-year amount of sectoral taxes in the first quarter. Had those items been booked evenly within the year, Q2 […]

The housing construction market is picking up, but it is highly uneven across regions; for example, in Budapest, 83% of new apartments were built in just four districts during the first half of the year, as highlighted in an analysis by Mapei Ltd. Nationwide, 6,278 new homes were built in the first half of the […]

The value of new leases in Hungary rose 8.7% year-on-year to HUF 520 billion in the first half, the Hungarian Leasing Association said on Tuesday. The number of new contracts increased 5.3% to 42,536. Leases of passenger cars, light commercial vehicles and motorcycles accounted for HUF 319 billion of the new financing, up 8.5%. New […]

The Hungarian Minister for the Living Environment, László Gajdos, announced the launch of a probe of Hungary's battery industry in a social media post on Tuesday. The probe, extending to the battery industry's entire supply chain, will scrutinize capacities, use of materials, emissions, water use and waste management, he said. According to the minister, the […]

Home sales in Hungary fell 2.1% year-on-year to 9,292 in July, a monthly estimate by listed real estate broker Duna House shows. For the period January-July, home sales fell 9.7% year-on-year to 65,846. July saw the more subdued activity typical of the summer months in the Hungarian real estate market: 9,292 sales took place, which […]

4MW/8MWh energy storage systems operated by FEH Solar One Ltd. (a subsidiary of Futureal Energy Partners) have begun operating at five locations within HelloParks’ logistics parks in Maglód, Fót and Páty, all in the outskirts of the capital. According to a Monday announcement by Futureal Energy Partners, the green investment — with a combined capacity […]

Hungary's seasonally-adjusted Purchasing Managers Index (PMI) stood at 51.4 points in July, slipping from 51.6 in the previous month, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim) said on Monday. The PMI was over the 50-point threshold, signaling expansion in the manufacturing sector. Among the PMI sub-indices, the new orders index fell 1.7 […]

The Budapest Stock Exchange’s stock index rose to a new all-time high by the end of the week. The BUX closed at 146,688 points, up 2.24% for the week, while trading volume also exceeded the previous week’s level. Leading stocks all ended the week in positive territory. Weekly trading volume totaled HUF 120.5 billion, up […]

There is enough motor fuel in Hungary; supply is secure and the goal is to ensure that it remains secure tomorrow and the day after tomorrow, the chairman-CEO of Hungarian oil and gas company MOL, Zsolt Hernádi has announced. He said water levels in the Danube, which provides both cooling and industrial water for the […]

The forint was introduced in Hungary on August 1, 1946. The issuance of the new currency was necessitated by the pengő’s incredible rate of inflation following World War II — a level of inflation unprecedented in world history. The forint entered circulation in Hungary on August 1, 1946. By that year, the pengő due to […]

Factory gate prices in Hungary edged down 0.4% year-on-year in June, data released by the Central Statistical Office (KSH) show. Prices for domestic sale were up 1.8% while export prices decreased 1.4%. Domestic prices of the manufacturing sector, which have a 67.6% weight in the PPI, rose 1.1%. Domestic energy prices, which account for 30.0% […]