Hungary AM

Politics

Magyar Opposes Allowing Illegal Migrants Into EU

The opposition Tisza Party "rejects the entry of illegal migrants into European Union territory," party leader Péter Magyar said in...

MNB

Rate-setters Agree ‘Cautious and Patient’ Approach Still Needed

Members of the Monetary Council of the National Bank of Hungary (MNB) agreed that their approach to monetary policy needed...

Manufacturing

Hydro Begins Operations at Aluminum Recycling Plant

Norway's Hydro has started operating a new aluminum recycling plant in Székesfehérvár (65 km southwest of Budapest by road), according...

Figures

Auto Owners Pay 10% More on Q2 Insurance Premiums

Hungarian auto owners paid a little more than HUF 57,200, on average, for their annual compulsory vehicle insurance premiums in...

Domestic

Matolcsy Calls for Turnaround of Economic Policy

National Bank of Hungary (MNB) governor György Matolcsy called for a complete turnaround in Hungary's economic policy at the 62nd...

Transport

Bahart Ferries Carried 1.23 mln Passengers This Summer

The ships of Lake Balaton ferry company Bahart had carried 1.23 million passengers by the end of the summer....

Figures

Acquisition Closures Boost Gloster in H1

Listed IT company Gloster's management expects a 35-45% higher sales revenue (around HUF 5.8 billion-6.6 bln) and a half-year EBITDA...

Analysis

Domestic Companies Unaware of ESG Requirements

A significant number of domestic companies are not aware of the environmental, social and corporate governance aspects they must comply...

Figures

Employers, Unions Hold Minimum Wage Talks

Representatives of employers' associations and unions have discussed drafting a multi-year minimum wage agreement and the possibility of consolidating the...

Tourism

More Guests Stay in Rural Accommodation in June-July

More guests stayed at rural accommodation in June-July than in last year's record year, according to data from the National...

In Budapest

Georgia Guest of Honor at 2024 Budapest Wine Festival

The 33rd Budapest Wine Festival, set to kick off on September 12 at the Buda Castle Royal Palace, will feature...

Green Energy

Total Solar Production Reaches 3,242 MW

The total production of solar systems above 50 kW reached 3,242 MW on Friday, the Ministry of Energy Affairs announced...

Residential

Budapest Sees Highest Rise in New Flat Prices Among EU Capitals

Budapest experienced the most significant rise in new flat prices among EU capitals last year, with an increase of 11.2%...

Innovation

Marketing the Most Common Application for AI

In a survey of 260 trademark user partners conducted at the beginning of August, Magyar Termék asked the extent to...

Weather

Second-degree Heat Alert in Effect Until Friday

The national chief medical officer ordered a second-degree heat alert for the entire country until midnight on Friday, August 30,...

Retail

Aldi Cuts Selection and Prices, Shifts toward Stricter Discount Model

Aldi has reduced its food assortment from 2,600 to 2,100 products as part of a data‑driven cleaning process that keeps...

Automotive

Budapest Cuts EV Parking Discounts but Keeps Benefits Until 2030

Budapest's City Assembly voted to reduce the parking discount for electric and hydrogen vehicles to 50%, keeping the benefit in...

EU

EU Grants Hungary 1‑year Exemption from Gas Market Rule

The EC approved Hungary's request for a temporary exemption from an EU gas‑market regulation at the Serbian border, allowing the...

Budapest Hotels Outperform Regional Rivals Despite Lower Guest Numbers

Budapest’s hotels delivered some of the strongest results in CEE, posting an 81.3% occupancy rate, and leading the region with...

Hungarian EV Market Continues to Grow, Leading CEE

Electromobility in Hungary continues to grow. In the first half of the year, 7,497 new all-electric passenger cars were registered,...

State and City to Renew Budapest’s Danube Waterfront

The gov't and Budapest will form a new 50–50 joint company to develop the Budapest section of the Danube, resolving...

Aldi Cuts Selection and Prices, Shifts toward Stricter Discount Model

Aldi has reduced its food assortment from 2,600 to 2,100 products as part of a data‑driven cleaning process that keeps...

18,000 Truck Drivers Near Retirement, Hungary Faces Shortage

Europe currently has more than 500,000 unfilled truck‑driver positions, and another 600,000 drivers are expected to reach retirement age in...

Budapest Cuts EV Parking Discounts but Keeps Benefits Until 2030

Budapest's City Assembly voted to reduce the parking discount for electric and hydrogen vehicles to 50%, keeping the benefit in...

EU Grants Hungary 1‑year Exemption from Gas Market Rule

The EC approved Hungary's request for a temporary exemption from an EU gas‑market regulation at the Serbian border, allowing the...

Budapest Office Supply Tightens, Vacancy Falls, Rents Flat

Budapest's office market is tightening, with the vacancy rate at 12.2% even as rental prices remain at EUR 25 per...

ÁKK: Euro Adoption May Cut Hungary’s Debt Costs by 50%

The Government Debt Management Agency (ÁKK) says Hungary could reduce its financing costs after adopting the euro, lowering annual interest...

Budapest to Raise Fare Evasion Penalties From Nov. 2

Budapest's public transport penalty fares will be raised by approximately 20–25% in several categories from November 2, daily newspaper Népszava...

Hungary to Formalize Gift of Lipizzaner Horses to King Charles III

Hungary will formally gift two Lipizzaner horses to the UK's King Charles III, resolving an ownership issue after the animals...

Varga Prioritizes Successful Euro Adoption Over Speed

Hungary should prioritize a successful transition to the euro over rapid adoption, MNB governor Mihály Varga said at the 64th...

Hungarian Homebuyers Secure Biggest Discounts in 2 Years

Homes in Hungary sold for an average of 6.4% below their final advertised asking price between June and August, the...

Hungarian Agricultural Concentration Accelerates, 35,000 Farms Disappear in 3 Years

Hungary's agricultural sector has undergone rapid consolidation, with the number of agrarian farms dropping by 41% over the past 10...

MVM Introduces Dynamic Electricity Tariff

From Sep. 1, households and microbusinesses under universal service can voluntarily switch to energy company MVM's new dynamic tariff, which...