Business

Retail

Praktiker revenue climbs over HUF 84 bln in 2021

Revenue of Hungarian-owned DIY chain Praktiker rose more than 10% to HUF 84.1 billion last year, the company told MTI...

HR

Student workers in high demand this summer

More and more student worker ads are being posted on Hungary's most visited job portal. Compared to the previous year,...

Competition

Application for cybersecurity challenge now open

Applications for the cybersecurity challenge of the National Institute of Cyber Protection (NKI) are now open, the deputy spokesman of...

Fintech

Average level of digitalization in finance still ‘medium’

In addition to further developments at credit institutions at the forefront of digitalization, less well-performing banks also managed to catch...

Automotive

Audi to build HUF 120 bln electric drive plant in Hungary

German carmaker Audi will add a HUF 120 billion electric drive plant at its base in Győr, Minister of Foreign...

HR

30% of Hungarian companies plan to expand their workforce in Q3

Thirty percent of domestic employers forecast an expansion in their current workforce in the third quarter of 2022, while 17%...

Office Market

ExxonMobil Hungary moves HQ into Pillar office building

ExxonMobil moved its largest office in Europe into the Pillar office building in Budapest, according to a press release sent...

Innovation

Hungary moves up to 39th place in IMD competitiveness ranking

Hungary has moved up three spots to 39th place in this year's IMD World Competitiveness Ranking, according to a report...

Automotive

Share Now fleet expanding to 500 cars from July

From July, car-sharing company Share Now will operate with 500 cars in Budapest, making it the largest car-sharing fleet in...

Deals

OTP, MOL extend share swap agreement till 2027

OTP Bank and Hungarian oil and gas company MOL have extended a share swap agreement initially concluded in 2009 until...

Innovation

TIM establishes industrial cooperation with Pécs Uni

The Ministry of Technology and Industry (TIM) has established industrial cooperation with the University of Pécs for the sake of...

Manufacturing

Moldova industrial output contracts in April

Moldova's industrial production declined by 10.4% year-on-year in April, following an upwardly revised 2.9% rise in the previous month, Trading...

Fintech

Hungary Fintech sector continues to expand

Hungary's Fintech sector has grown to 146 companies employing more than 8,000 people, state news wire MTI writes, citing a...

Residential

Less than 20% living in overcrowded homes

The percentage of Hungarians who live in overcrowded homes reached 19% in 2020, less than half of the 45.5% rate...

Telco

Vodafone to provide limited customer service in mid-July

Due to an IT service transition, Vodafone clients will only have access to limited customer services from July 11 to...

Transport

Lake Balaton Cycling Upgrades to Add Wider Paths and New Bridges

Nearly 20 km of the Lake Balaton cycling circuit will be renovated under two programs financed through EU and domestic...

Pharma

Rooftop Breakfast Offers Helicopter View of AI’s Impact on Pharma

About 50 guests began their day in the beautiful setting of the Duchess Rooftop Bar of the Matild Palace Hotel...

Interview

Rethinking Data Strategies From Storage to Recovery

As Hungarian businesses manage increasingly fragmented data and face more sophisticated cyberthreats, reliable recovery is becoming a board-level priority....

Retail

Resident Evil Game Prices Rise Around Film Premiere

Physical console editions of several Resident Evil games rose in price around the film’s Sept. 17 theatrical release, according to...

Pharma

FDA Accepts Richter’s Fylrevy Menopause Therapy Application for Review

The U.S. Food and Drug Administration (FDA) has accepted Gedeon Richter’s new drug application for Fylrevy, the Hungarian pharmaceutical company...

Interview

DUIHK Central to the German-Hungarian Bilateral Economic Relationship

Róbert Keszte became president of the German-Hungarian Chamber of Industry and Commerce (DUIHK) in 2025. In this interview with the...

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...