Christian Keszthelyi

Star local pilot switches from Hungarian plane

The following story is from the April 10-23 print edition of the Budapest Business Journal....

EU

Official: EU could continue funding if issues are solved

Despite reports of concerns in the European Commission about corruption, Jyrki Katainen of Finland, the ECʼs Vice-President for Jobs, Growth,...

Banking

Surge in NAV inspections raises revenue by HUF 1.5 bln

Hungary’s National Tax and Customs Authority (NAV) said that inspections based on an electronic monitoring system for road haulage companies,...

Sights

Analysts expect MNB to cut base rate further

Reuters-polled analysts anticipate the National Bank of Hungary’s (MNB) rate-setting Monetary Council will cut the current 1.95% base rate by...

Telco

Hungary’s Naturtex signs contract with Chinese partner

Hungarian pillow and duvet manufacturer Naturtex and its Chinese partner Luolai Home Textile Co. yesterday signed a contract under which...

Industrial

Coloplast doubles size of base in Nyírbátor

Danish medical supplies company Coloplast yesterday inaugurated a HUF 7.9 bln production hall at its base in Nyírbátor, northeastern Hungary,...

EU

Report: EC suspects ‘corruptionʼ in tenders

European funding for construction on a stretch of M4 highway was blocked because the European Commission found overpricing in the...

Initiatives

Employment in Hungaryʼs banking sector falls 2%

The headcount in Hungary’s banking sector declined by 2% last year, down to 37,816, Hungarian economic daily Világgazdaság said today,...

Pharma

Emerson Process Management opens new plant

Emerson Process Management Magyarország, the Hungarian unit of the U.S.-founded manufacturer of the same name, yesterday inaugurated its new 25,000...

Transport

Turkish Airlines eyes four daily Budapest-Istanbul flights

Turkish Airlines yesterday announced it would raise the number of its daily flights between Budapest and Istanbul to four as...

History

Government scraps M4 funding contract

The Hungarian government yesterday decided at a cabinet meeting to cancel a contract for European Union funding for a planned...

Construction

Hungaryʼs construction sector output growth slows to 5.1%

Output of Hungary’s construction sector saw a year-on-year rise of 5.1% in February, slowing from an 8% increase in the...

Visits

Report: Habony could become media mogul

Modern Media Group Befektetési és Vagyonkezelő Zrt. (MMG) was reportedly founded on April 9, with Árpád Habony as one of...

History

Varga urges Brussels to provide more credit for Hungary

Hungary’s National Economy Minister Mihály Varga urged Brussels to give Hungary more credit for the impact of structural transformations on...

Initiatives

Liget Project welcomes two top finishers

The plans of two separate designers Snøhetta and Sanaa (Sejima and Nishizawa and Associates), both Pritzker prize awarded firms, were...

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...