Business

Automotive

Rába Profit Falls on Slimmer Margins, Financial Loss

Hungarian automotive industry company Raba's after-tax profit fell 51% to HUF 0.6 billion last year, an earnings report published after...

Telco

Magyar Telekom Earnings Rise 7% in 2022

Net income of Magyar Telekom rose 7% to HUF 63 billion in 2022, parallel with climbing revenue, state news wire...

Retail

Poland Retail Sales Fall in January

Poland's retail sales, at constant prices, dropped 0.3% year-on-year in January, reversing a 0.2% slight rise in December, figures from...

Transport

Fuel Prices to Fall Further on Friday

The wholesale price of both gasoline and diesel in Hungary is set to fall by HUF 6 per liter on...

Construction

Slight Increase in Home Building, Construction Permits in Hungary

In 2022, 20,540 new dwellings were built in Hungary, 3.2% more than a year earlier. Based on issued dwelling construction...

Manufacturing

Polish Industrial Output Grows Further in January

Industrial production in Poland accelerated to 2.6% year-on-year in January, following a 1% gain in the prior month, the Warsaw-based...

Transport

56% of Hungarians Own a Bicycle

More than half of the Hungarian population already owns a bicycle or a scooter, according to OTP Mobil, writes the...

Ecosystem

Hiventures Plows HUF 24 bln Into Promising Firms in 2022

Hiventures invested HUF 24 billion in domestic companies last year, the venture capital arm of the Hungarian Development Bank (MFB)...

HR

Poland Employment Rises in January

Corporate employment in Poland rose 1.1% year-on-year to 6.530 million people in January 2023, the least since December 2021, data...

HR

34% of Companies Plan on Raising Headcount This Year

Around 34% of mid-sized and big companies in Hungary plan to raise headcount this year, according to an annual survey...

Residential

Home Rental Rates in Hungary Rise 20% y.o.y. in January

Home rental rates in Hungary rose 19.9% year-on-year in January, data compiled by the Central Statistical Office (KSH) from listings...

Retail

E-commerce Platform Wish to Compensate Hungarian Users

U.S.-based e-commerce platform Wish has agreed to compensate 100,000-150,000 Hungarian consumers in lieu of paying a fine, the Competition Office...

HR

Penny Market to Raise Wages by 17%

German-owned discount supermarket chain Penny Market will raise wages by 17% on average from April 1, the company said on...

HR

MÁV Raises Railway Worker Wages

The MÁV-Volán Group and representatives of its employees agreed on the level of wage development for 2023 on Friday at...

Incubators

Application for V4 Startup Force Now Open

Application for the V4 Startup Force program, organized by Design Terminal, DEX Innovation Centre, Campus Cowork, and Startup Hub Poland...

Pharma

Egis Opens Major Pharmaceutical Distribution Center in Fót

Egis has opened a distribution center in Fót with capacity for 30,000 pallets, expanding its finished-product logistics operations to support...

Construction

Civil Engineering Surge Masks Decline in Building Construction

Civil engineering output more than doubled in Hungary in August, while building construction declined and the volume of new contracts...

HR

Workload Outweighs Pay as Source of Workplace Distress

Workload, lack of recognition and job insecurity drive workplace distress among Hungarian employees, while pay remains their top priority, according...

Appointments

CBRE Hungary Expands China Desk as Chinese Clients Pursue European Projects

CBRE Hungary has appointed Tu Yunfeng as business development manager at its China Desk, expanding the Budapest-based team as Chinese...

Retail

Spar Files New EU Complaint Over Hungary’s Retail Tax

Spar has filed another complaint with the European Commission over Hungary’s retail sector tax, arguing that amendments offer relief only...

Inside View

Investing in Hungary’s Wind Renaissance: What Wind Tender Means for Stakeholders

Hungary has launched its most ambitious wind energy initiative in nearly two decades, opening a new chapter in the country’s...

Appointments

Géza Palocsay Named Managing Director of Douglas Central Europe

Géza Palocsay has been appointed managing director of Douglas Central Europe, overseeing the beauty retailer’s operations in Hungary, the Czech...

Manufacturing

Continest and Sweden’s Flexotrap Join Forces on Modular Shooting Ranges

As defense spending grows in importance across Europe following Russia’s full-scale invasion of Ukraine, local firm Continest Technologies Plc. and...

Residential

Hungary’s Housing Costs Drive Buyers Toward Garden Plots and Former Wine Cellars

Rising house prices and living costs are pushing more buyers toward properties on Hungary’s outlying garden plots and vineyard land,...

Inside View

Energy Efficiency Also a Tax Opportunity

Diversifying Hungary’s energy supply has been on the agenda for years. The rapid expansion of solar power is a major...

Residential

Budapest Castle District Voters Back Short-Term Rental Ban

Nearly 59% of participants in an online vote in Budapest’s District I supported a complete ban on short-term rentals, Castle...

Science

What Might Dogs Reveal About Human Communication?

A Hungarian-led research team working out of the Department of Ethology at ELTE in Budapest is working to discover what...

Real Estate

Erste Real Estate Investment Fund Buys H2Offices

Skanska has agreed to sell the second phase of its H2Offices complex to Erste Open-Ended Real Estate Investment Fund, represented...

Retail

Hungary Retail Sales Rise 2.4% in August

Hungary’s retail sales volume increased 2.4% year on year in August but fell 0.7% from July, according to data from...