BBJ

Retail

Retail Sales See Modest Growth in December, but Monthly Decline Reflects Seasonal Trends

Retail sales showed slight year-on-year growth in December 2024, but saw a month-on-month decline, reflecting early holiday shopping and rising...

Industrial

The Future of Domestic Factories: Companies Compete for Employees With Their Facilities

Nearly 2/3 of employees are dissatisfied with the condition of their workplace, according to a representative study conducted by Frame...

Trade

Hungary Posts EUR 387 mln Trade Surplus as Imports Decline in December

Hungary’s external trade in goods recorded a surplus of EUR 387 million in December 2024, as imports fell at a...

Figures

Hungary’s Population Decline Accelerates as Birthrate Drops in 2024

Hungary’s population continued to shrink in 2024 as births declined at a faster rate than deaths, according to preliminary demographic...

Office Market

Quality Office Spaces Remain in High Demand Despite Rising Vacancy Rates in Budapest

Accessibility, cleanliness, air quality, and the ever-important issue of heating and cooling—these are the top concerns for office users, according...

Manufacturing

Industrial Producer Prices Rise 9% in December, Driven by Weaker Forint

Industrial producer prices in Hungary increased by approximately 9% year-on-year in December 2024, according to fresh data from the Central...

Appointments

New Managing Director Appointed at MSD Hungary

MSD Hungary, the local affiliate of the global innovative pharmaceutical company MSD, announced the appointment of Sean R. Smith as...

Residential

Budapest’s New Housing Market Surges, but the Boom May Be Just Beginning

The second half of 2024 saw a major surge in Budapest’s new housing market, with 5,300 newly built apartments sold...

Tourism

Tourist Arrivals and Overnight Stays Increase in December, Marking Strong End to 2024

Hungary’s tourism sector ended 2024 on a strong note, with both tourist arrivals and overnight stays rising significantly in December,...

Banking

MBH Bank: Extraordinary Interest in New International Bond

MBH Bank saw strong investor interest in its new int'l MREL-eligible bond this month. More than EUR 1.6 bln was...

Deals

Corvinus University and Mastercard Enter Collaboration

A thematic mini-course, a student team competition, and a new scholarship are among the opportunities outlined in the memorandum of...

EU

Szijjártó Claims Victory, Critics Call Bluff as Hungary Approves EU Sanctions Against Russia

The EU Council extended sanctions against Russia on Monday after Hungary refrained from exercising a potential veto. Péter Szijjártó stated...

HR

Hungary’s Unemployment Rate Steady at 4.3% in December

In December 2024, Hungary's unemployment rate remained steady at 4.3%, with approximately 210,000 people unemployed, according to the latest data...

Transport

Hungary Exploring Purchase of Swiss Trains Amid Rail Modernization Efforts

Hungary is in discussions to acquire a significant fleet of Swiss trains as part of its ongoing efforts to modernize...

Art

David S Sutherland’s Flabbergast Exhibition Coming to Nyitott Galéria

Nyitott Galéria will soon host Flabbergast, an exhibition of paintings, assemblages, and works on paper by artist David S Sutherland,...

Culture

Patience Still Required From Those Wanting Cultural Funding Reform

Dávid Zsoldos, president of the Hungarian Music Council, talks to the Budapest Business Journal about how cultural funding has evolved...

Social

Annual Bonfire Night Charity Celebration Returns Nov. 5

The team behind expat portal XpatLoop.com will host its annual Bonfire Night charity fundraiser Thursday, Nov. 5, combining an evening...

Pollution

Dongwha Plant’s Environmental Permit Revoked in Hungary

The environmental permit for South Korea’s Dongwha electrolyte manufacturing and NMP recycling plant in Sóskút has been revoked following an...

Energy

Large-scale Energy Storage Enters Center Stage

The role of storage in Hungary’s energy supply system was neglected for far too long. Now things are moving fast,...

Patience Still Required From Those Wanting Cultural Funding Reform

Dávid Zsoldos, president of the Hungarian Music Council, talks to the Budapest Business Journal about how cultural funding has evolved...

EU Fast Track to Unicorn Status Thru Little-known State Aid

An EU state subsidy that has long been under the radar allows companies to make it big on the European...

Upcoming German-Hungarian Business Forum at Kecskemét

What opportunities does the next chapter of German-Hungarian economic cooperation hold? The German-Hungarian Business Forum will explore the challenges and...

Hungary to Open Communist-Era Secret Service Files on November 4

Hungary’s government will make communist-era secret service documents public on Nov. 4, fulfilling one of the ruling Tisza Party’s main...

House of Music Hungary Takes Programs Beyond Budapest

House of Music Hungary marked International Music Day on Oct. 1 with a press conference outlining plans to expand its...

Michelin Celebrates 30th Anniversary of Presence in Hungary

Michelin celebrated the 30th anniversary of its presence in Hungary at an anniversary event at its Nyíregyháza facility (231 km...

Magyar Congratulates Serbia’s Student List on Election Victory

Prime Minister Péter Magyar congratulated the leaders of Serbia's opposition Student List in a phone call after their victory in...

Budapest’s Castle District Proposes Short-Term Rental Ban From 2028

Budapest’s District I council has published a draft decree that would ban short-term rentals in the Buda Castle area from...

Citi Appoints Zoltán Schwardy as Country Officer and Banking Head for Hungary

Citi has announced the appointment of Zoltán Schwardy as Citi country officer (CCO) and banking head for Hungary, effective Sept....

Hungary’s Gross Wages Rise 8.4% to HUF 740,600 in August

Average gross monthly earnings for full-time employees in Hungary rose 8.4% year-on-year to HUF 740,600 in August, according to the...

Annual Bonfire Night Charity Celebration Returns Nov. 5

The team behind expat portal XpatLoop.com will host its annual Bonfire Night charity fundraiser Thursday, Nov. 5, combining an evening...

Dongwha Plant’s Environmental Permit Revoked in Hungary

The environmental permit for South Korea’s Dongwha electrolyte manufacturing and NMP recycling plant in Sóskút has been revoked following an...

Budapest Mayor Announces ‘Wave of Development Projects’

A “wave of development projects” will begin in Budapest soon, Mayor Gergely Karácsony said this week. Investments will proceed with...

Large-scale Energy Storage Enters Center Stage

The role of storage in Hungary’s energy supply system was neglected for far too long. Now things are moving fast,...

Budapest Reaches 100 Short CAF Trams as Fleet Expansion Continues

Budapest’s 100th short CAF tram has entered service, marking a milestone in the capital’s fleet renewal program, the Budapest Transport...