Christian Keszthelyi

History

Varga: Borrowers’ relief won’t break the banks

National Economy Minister Mihály Varga dismissed speculation that the borrowers’ relief package will bring banks to the brinks of bankruptcy,...

Ticket sales down for Hungarian Grand Prix race

In line with expectations, ticket sales for this year’s Hungaroring – the Hungarian Grand Prix – were down to 169,000...

In Hungary

NAV audits electronic tills, fines 3,000 users

The National Tax and Customs Authority of Hungary (NAV) levied fines worth HUF 260 mln as a result of the...

Hotels

EU, state help fund hotel expansion

The Arabian-themed Hotel Meses Shiraz in the northern Hungarian town of Egerszalók expanded capacity with a HUF 470 mln European...

Tourism

HUF 13 bln deposited in tax-free accounts in Q2

Hungarian banks opened "Stability Savings Accounts" with deposits of HUF 12.942 bln in Q2, and the amount deposited doubled from...

Deals

Mapei: Sales grow as building market improves

Mapei Hungary, the subsidiary of the Italian building material manufacturer of the same name, said today that its 32% growth...

EU

Website says it prodded Lázár into billing EC

János Lázár, head of the PM’s Office, today ordered the State Treasury to send Brussels the invoices for the past...

Issues

Raiffeisen Bank: borrowers relief to cost €160 mln

Raiffeisen Bank expects to have to pay out €120-160 mln to compensate borrowers because of the new law on FX...

Analysis

K&H: 2% inflation expected; beware of bonds

The trend of depressed prices in Hungary will reverse by the end of the year, and inflation will reach 1.5-2%,...

Telco

Magyar Telekom to lay off 1,700 workers

Magyar Telekom, the subsidiary of Deutsche Telekom, declared 1,700 workers redundant following negotiations with worker-advocacy groups, the Hungarian service provider...

Automotive

Audi producing new coupe in Győr (update)

German carmaker Audi is launching serial production of its third-generation Audi TT Coupe in Hungary, Audi Hungária Motor announced today....

Deals

OTP Bank to defend contracts in court

OTP Bank and its subsidiaries decided to defend their decision to make unilateral changes to loan contracts in court, the...

Pharma

Ceva-Phylaxia turns out 50 bln poultry vaccines

Hungary-based and French-owned veterinary company Ceva-Phylaxia marked the production of its 50-billionth dose of poultry vaccine at a ceremony today....

Telco

KSH: May retail sales grow at slower rate

Retail sales in Hungary rose 4.9% in May as compared with a year earlier, according to calendar-adjusted figures, the latest...

Transport

Wizz Air now flies from 5 Romanian airports

Hungary-based low-cost airline Wizz Air now flies out of Craiova, Romania, which is the company's fifth destination in that country,...

Analysis

Done Well, 4-day Week Could Boost Productivity, Employee Happiness

At face value, a four-day workweek looks tempting for the employee, but what about the employer? It could significantly benefit...

Manufacturing

Ganz Intelligent Solutions Launches new Tech for Transformers

Storied Hungarian manufacturer Ganz has introduced new technology that helps transformers reach their peak performance, saving costs and contributing towards...

Analysis

Banks Enjoy Digital Advances, Serving Increasingly Tech-savvy Customers

If anything, the adage of technology disrupting every industry is amplified in banking. Beyond the usual suspects of AI and...

Analysis

Economic Strains Grow, but Banks Will Weather the Storm

Rising inflation, the escalating energy crisis, interest rate freezes, and extra taxes have increased the strain on banks operating in...

Automotive

Global Energy Crisis Increases Electric Vehicle Expenditure

With motorists eyeing greener transport options, electric vehicles are gaining ground in Hungary. Yet, driving a pure EV has gotten...

Analysis

Chameleon Smart Home Solutions Developer Enters BSE Xtend

Innovative home solutions are rising in Hungary, even if the market lags internationally. Chameleon Smart Home Plc. recently floated its...

Automotive

Investment Prospects from China to Lift Automotive Sector in 2023

2023 comes with a challenging outlook, and the automotive industry seems likely to remain vulnerable to economic headwinds. However, for...

Analysis

SSCs Mature Into GBSs as They Provide Higher Added-value Functions

As shared services centers have graduated to business services centers and now, increasingly, to global business services centers, the industry’s...

Automotive

AutoWallis’s new Partnership, Acquisition Boosts 2023 Business Outlook

In less than 24 hours, the AutoWallis Group announced an acquisition (and hence entrance to anew market) and asustainable energy...

Telco

Consolidating Telcos Battle Challenges as Data Thirst Grows

The consolidating Hungarian telecommunications market is shaped by a handful of drivers mainly fuelled by technological advancement, changing customer behavior,...

Automotive

Speeding Automotive Sector Lifts Industrial Output but Future ‘Uncertain’

The automotive sector, Hungary’s leading manufacturing segment, has shown accelerated growth recently, boosting the headline industrial figure. While the improved...

Sustainability

Green Transition Comes with Challenges, Many Long-term Benefits

As Europe grapples with its energy crisis, more businesses in Hungary are thinking about making their operations greener and more...

Analysis

Challenges Await in Booming IT Integrators’ Market

The pandemic gave a much-needed push for businesses toward digital transformation, which has lifted the profile of IT integrators and...

Automotive

Incentives Boost E-car Adoption but Raise tax Uncertainties

Incentives and benefits created to bolster the broader adoption of electric vehicles are helping lift sales. But as rules and...

Telco

Normalizing 5G Sentiment Opens way to Expanding Services

Even as the Hungarian market is getting used to fifth-generation technology on the residential side of the business, the corporate...

Done Well, 4-day Week Could Boost Productivity, Employee Happiness

At face value, a four-day workweek looks tempting for the employee, but what about the employer? It could significantly benefit...

Ganz Intelligent Solutions Launches new Tech for Transformers

Storied Hungarian manufacturer Ganz has introduced new technology that helps transformers reach their peak performance, saving costs and contributing towards...

Banks Enjoy Digital Advances, Serving Increasingly Tech-savvy Customers

If anything, the adage of technology disrupting every industry is amplified in banking. Beyond the usual suspects of AI and...

Economic Strains Grow, but Banks Will Weather the Storm

Rising inflation, the escalating energy crisis, interest rate freezes, and extra taxes have increased the strain on banks operating in...

Global Energy Crisis Increases Electric Vehicle Expenditure

With motorists eyeing greener transport options, electric vehicles are gaining ground in Hungary. Yet, driving a pure EV has gotten...

Chameleon Smart Home Solutions Developer Enters BSE Xtend

Innovative home solutions are rising in Hungary, even if the market lags internationally. Chameleon Smart Home Plc. recently floated its...

Investment Prospects from China to Lift Automotive Sector in 2023

2023 comes with a challenging outlook, and the automotive industry seems likely to remain vulnerable to economic headwinds. However, for...

SSCs Mature Into GBSs as They Provide Higher Added-value Functions

As shared services centers have graduated to business services centers and now, increasingly, to global business services centers, the industry’s...

AutoWallis’s new Partnership, Acquisition Boosts 2023 Business Outlook

In less than 24 hours, the AutoWallis Group announced an acquisition (and hence entrance to anew market) and asustainable energy...

Consolidating Telcos Battle Challenges as Data Thirst Grows

The consolidating Hungarian telecommunications market is shaped by a handful of drivers mainly fuelled by technological advancement, changing customer behavior,...

Speeding Automotive Sector Lifts Industrial Output but Future ‘Uncertain’

The automotive sector, Hungary’s leading manufacturing segment, has shown accelerated growth recently, boosting the headline industrial figure. While the improved...

Green Transition Comes with Challenges, Many Long-term Benefits

As Europe grapples with its energy crisis, more businesses in Hungary are thinking about making their operations greener and more...

Challenges Await in Booming IT Integrators’ Market

The pandemic gave a much-needed push for businesses toward digital transformation, which has lifted the profile of IT integrators and...

Incentives Boost E-car Adoption but Raise tax Uncertainties

Incentives and benefits created to bolster the broader adoption of electric vehicles are helping lift sales. But as rules and...

Normalizing 5G Sentiment Opens way to Expanding Services

Even as the Hungarian market is getting used to fifth-generation technology on the residential side of the business, the corporate...