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Serbia agrees to sell Komercijalna Banka to Slovenia’s NLB

Sloveniaʼs Nova Ljubljanska banka (NLB) has become the third-largest bank in Serbia after acquiring an…

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Graphisoft Park shareholders approve share buyback

Shareholders of Graphisoft Park, a listed company that owns and operates a business park in…

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Home sales slightly down y.o.y. in February

Approximately 13,117 homes were sold in February 2020, about 3% fewer than in the same…

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Wizz Air cancels Debrecen-Tel Aviv flights for about a month

Hungarian low-fare carrier is canceling flights between Debrecen (about 195 km east of Budapest) and…

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Romania’s president appoints finance minister to form new government

Romania’s President Klaus Iohannis said late on February 26 he has tasked interim Finance Minister…

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State media staff need permission to report on Thunberg, EU politics

Hungarian state media bosses banned coverage of leading human rights organizations and told staff they…

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Wyser enters Hungarian market

Wyser, an international company within Gi Group, specializing in recruiting and selecting specialized middle and…

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EIB and EU signs EUR 204 mln infrastructure deals with Bosnia

The European Investment Bank (EIB) and the European Union will support Bosnia and Herzegovina (BiH)…

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GVH investigates Viber

The Competition Authority (GVH) has launched a competition enforcement investigation to determine whether certain commercial…

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Hungary PMI falls to 50.1 in February

Hungaryʼs seasonally-adjusted Purchasing Managers Index (PMI) fell to 50.1 points in February from 52.2 points…

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Slovenia annual retail sales rise in January

Slovenia’s retail sales turnover rose by 4.5% year-on-year in January, after decreasing by 6.6% in…

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Transit zone closed to migrants due to coronavirus risk

Hungary is closing transit zones along its border with Serbia to illegal migrants for an…

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Simply Red to play Budapest this year

Following the release of their funky new album, “Blue Eyed Soul”, Simply Red revealed the…

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Slovak consumer sentiment improves slightly in February

The consumer confidence indicator in Slovakia edged up to -11.1 in February from -11.9 in…

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Domestic SMEs can benefit from international consultation

Hungary is currently ranked 23rd on the European Innovation List, but SMEs can now be…

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Short-term Postings, Business Trips and Training: Even More Complicated Administration

Posting is not only a case of an employee working on a specific project abroad,…

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El Clásico viewing with tapas at The Ritz-Carlton, Budapest

LaLiga and The Ritz-Carlton, Budapest is set to hold an event tomorrow where fans of…

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Average pension half the average salary

On Wednesday morning, the Central Statistical Office (KSH) published earnings figures for December last year,…

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Govʼt earmarks HUF 30 bln to manage prison overcrowding

Hungaryʼs government has allocated HUF 30 billion to deal with prison overcrowding this year, Gergely…

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Nestle sells its Timisoara factory in W. Romania, Colliers says

Nestle Romania is looking for a buyer for its factory in Timisoara, in western Romania,…

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Hungarian on Diamond Princess infected with Coronavirus

A Hungarian citizen working on quarantined cruiser Diamond Princess has tested positive for Coronavirus, Ministry…

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Most Hungarians would support CSOs, according to study

A new study, commissioned by Civilisation coalition and Political Capital says that some 70% of…

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EU tenders called for Budapest rapid suburban railway upgrade

The renovation and expansion of Budapestʼs HÉV rapid suburban railway line network has been launched…

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Logiscool gets EUR 3.5 mln investment

Logiscool, an international leader in coding education for children, announced receiving a EUR 3.5 million…

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Insolvencies in Romania down in 2019

In 2019, there were 6,384 insolvent companies in Romania, 22% less compared to the level…

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MNB resolute but can do little to address FinTech complaints

The National Bank of Hungary (MNB) on Monday said it will take “determined measures” against…

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Former HIPO president joins Danubia Legal as partner

Danubia Legal announced the appointment of former Hungarian Intellectual Property Office (HIPO) president Viktor Łuszcz…

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Bosnia registered jobless numbers fall in 2019

The number of registered unemployed people in Bosnia dropped by 7.7% on the year to…

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Hungarian annual inflation highest in EU

The annual inflation rate in Hungary was 4.7% in January 2020, which is the highest…

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Students returning from Italy quarantined

The National Center for Public Health (NNK) says that 11 high school students, two bus…

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Tesco to raise salaries in 2 steps

Tesco-Global Department Stores Zrt. will increase its employee wages in two steps this year, with…

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Poland industrial production rises in January

Polandʼs industrial production rose unexpectedly in January, and producer price inflation slowed, figures from the…

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Ministry urges ʼcareful considerationʼ before travel to Northern Italy

Hungaryʼs Ministry of Foreign Affairs and Trade on Sunday urged “careful consideration” before traveling to…

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Business sentiment worsens, consumer confidence up

Economic research company GKIʼs combined gauge of consumer and business confidence edged down to -2.6…

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City Hall calls on Praguers to report Airbnb flats to municipal police

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Hungary, Slovakia sign MoU on gas interconnector expansion

Hungary and Slovakia signed a memorandum of understanding on Friday on expanding gas interconnector capacity,…

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JCR upgrades Hungary

The Japan Credit Rating Agency (JCR) on Friday upgraded Hungaryʼs foreign currency long-term issuer rating…

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Real estate discounts getting bigger

According to the latest sales data of OTP Real Estate, between November 2019 and the…

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Researchers gain greater access to intʼl resources

Researchers in the Hungarian social and natural sciences have access to an increasing number of…

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5th Defence Logistics CEE coming in 2 weeks

In less than two weeksʼ time, doors will open to the highly anticipated Defence Logistics…

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Croatia real GDP growth slows in Q4, c.bank says

The available monthly indicators suggest that Croatia’s real gross domestic product (GDP) growth slowed in…

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Hungary farm sector output reached HUF 2.789 tln in 2019

Gross output of Hungaryʼs agriculture sector rose 3.56% to HUF 2.789 trillion last year, state…

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Enterprise birth rate above EU average

The enterprise birth rate in Hungary stood at 12.9% in 2017, well above the European…

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Bulgaria average gross monthly wage rises in Q4

The average gross monthly wage in Bulgaria has increased by an annual 12.1% to BGN…

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Hungary state debt at 64.8% of GDP at the end of 2019

Hungaryʼs state debt (without Eximbank data) stood at 64.8% of GDP at the end of…

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Romania January inflation at 3-month low

Romania’s consumer price inflation eased to its lowest level in three months in January after…

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Orbán announces climate plan, blasts Soros in address

Prime Minister Viktor Orbán delivered his annual state-of-the-nation address yesterday at the Castle Garden Bazaar,…

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Wizz Air suspends flights to Odessa

Low-cost airline Wizz Air will suspend flights to Odessa from late March to early June…

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S&P changes outlook on Hungary rating to ʼpositiveʼ from ʼstableʼ

S&P Global Ratings on Friday changed the outlook on Hungaryʼs “BBB” sovereign rating to “positive”…

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Fitch affirms Hungary ʼBBBʼ rating; outlook ʼstableʼ

Fitch Ratings on Friday affirmed Hungaryʼs ʼBBBʼ sovereign rating, two notches over the investment grade…

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Number of yearly marriages above EU average

The average number of marriages per 1,000 inhabitants stood at 5.2 in Hungary in 2018,…

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Hungary to extend USD 50 mln in tied aid to Rwanda

Hungary will extend USD 50 million in tied aid to Rwanda, Minister of Foreign Affairs…

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Hungary could start taking deliveries of Azeri gas from 2023

Hungary could start taking deliveries of 1 billion-2 bln cubic meters of gas from Azerbaijan…

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Construction output increased by 21.7% in 2019

According to raw data, construction output was 2.7% higher in December 2019 than a year…

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50 SMEs Eligible for Hungarian Multi-Program

About 50 micro, small and medium-sized enterprises are expected to enter this year’s Hungarian multi-program…

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Czech ČEZ plans to build car battery ‘gigafactory’

Czech power company ČEZ plans to build a “gigafactory” for batteries for cars in North…

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More Hungarians open securities accounts with Treasury

The balances of retail government securities accounts at the Hungarian State Treasury rose to HUF…

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AutoWallis discloses theft at BMW dealerships

Listed car seller AutoWallis on Friday disclosed that inventory with a value of “at most…

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Lamborghini order lifts Schäfer-Oesterle Kft. revenue

Net revenue of leather car interior maker Schäfer-Oesterle Kft, based in Bonyhád (139 km southwest…

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Bosnia retail trade grows in December

Retail sales in Bosnia and Herzegovina jumped 7.3% year-on-year in December, up from a 4.1%…

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Wizz Air ends Budapest-Frankfurt flight

Wizz Air has announced that it will cease offering flights between Budapest and Frankfurt from…

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Deloitte Hungary appoints new tech advisory partner

Big Four firm Deloitte Hungary announced the appointment of Dániel Kiss as partner of its…

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Budapest One Business Park named Europa Design WELL Project of the Year

Budapest One Business Park was named the Europa Design WELL Project of the Year 2019…

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Czech c. bank hikes key interest rate unexpectedly

The Czech National Bank raised its key interest rate unexpectedly on February 6, after holding…

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Hungary gender pension gap below EU average

In 2018, women in Hungary received a pension that was on average 16% below that…

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KitKat Gold to debut in Hungary

Nestlé announced bringing KitKat Gold to Hungary, making the country one of the first European…

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Czech industrial production falls in December

The Czech Republic’s industrial production declined further and its trade deficit increased in December, figures…

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Opus makes offer for E.ON Hungária energy trader

Listed holding company Opus Global on Monday said it submitted a binding offer to buy…

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Trade surplus at EUR 134 mln in December

In EUR terms, the value of exports decreased by 0.8% and that of imports went…

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Labor costs weigh on construction companies in Poland more than ever

Business confidence among Polish construction companies tumbled early this year, with the heaviest burden, as…

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DUIHK Investment Climate Survey open for participation

The German-Hungarian Chamber of Industry and Commerce (DUIHK) is set to publish its Investment Climate…

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Hévíz 12th in European Destinations of Excellence ranking

The Hungarian spa town of Hévíz, home to Europeʼs largest thermal lake, has been voted…

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Poland to hold presidential elections in May

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Tourism nights, sales revenues up in December

In December 2019, the number of nights spent by international tourists increased by 13% and…

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Gen govʼt shows January surplus

Hungaryʼs cash flow-based general government balance, excluding local councils, had a HUF 90.4 billion surplus…

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Lithuania HICP inflation accelerates further in January

Lithuania’s EU measure of inflation accelerated for a third straight month in January, flash estimates…

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ChocoMe: from a home-grown enterprise to a globally renowned chocolate empire

You have probably heard the brand name “chocoMe”. Over the last few years the press…

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BBJ Expat CEO of the Year 2020 gala gallery

Pictures from the BBJ Expat CEO of the Year 2020 gala. More will soon be…

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Croatia retail sales rise in December

Croatia’s retail sales rose in December after easing in the previous month, data from the…

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Spar joins NKM EV charger network

Spar announced the integration of its 33 EV chargers built last year into the Mobiliti…

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Hungary PMI falls to 52.5 in January

Hungaryʼs seasonally-adjusted Purchasing Managers Index (PMI) fell to 52.5 points in January from 53.9 in…

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PPI rises 2.4% in December, up 2.1% in 2019

Industrial producer prices as a whole were 2.4% higher in December 2019 than in the…

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Qatar Airways suspends flights to China

Qatar Airways has taken the decision to suspend flights to mainland China starting today, until…

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The number of non-EU workers in Slovakia increases

About 78,300 foreigners worked in Slovakia in the end of 2019, local media reported citing…

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AutoWallis vehicle sales up 21.1% in 2019

Listed auto trader AutoWallis says that it managed to grow its total number of vehicle…

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Graphisoft seeks clearance for EUR 33 mln structured share repurchase

Graphisoft Park, a listed company that owns and operates a business park in the north…

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Romanian jobless rate falls to 4-month low in December

Romania’s unemployment rate edged down to 3.9% in December compared to 4% in the previous…

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Price of pork skyrockets

The price of pork has increased significantly in recent months and, according to the supermarket…

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400,000 Poles in UK without settled status, Polish daily says

About 400,000 Poles living in the United Kingdom have not yet applied for “settled status”,…

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Cisco: Tech Trends for 2020 and Beyond

The Budapest Business Journal talks with Cisco Hungary general manager Ottó Dalos about the tech…

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Mercedes Hungary: production at full capacity

Demand for Mercedes-Benz compact cars is buoyant worldwide, with a full capacity production program for…

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Hungary importing less electricity

Gross domestic electricity consumption reached 45.66 TWh in 2019, an increase of 243 GWh, or…

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Hungarian-based Global Automotive Software Supplier NNG on Automotive Industry Trends

The continuous development of the software industry is having a powerful impact on a growing…

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Melanie Seymour named Expat CEO of the Year

BlackRockʼs Melanie Seymour took home the BBJ Expat CEO of the Year award at the…

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Szentkirályi-Kékkuti celebrates year of record sales

Mineral water and soft drinks company Szentkirályi-Kékkuti Ásványvíz Kft. closed 2018 with HUF 17.2 billion…

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1 in 5 firms see compliance with GDPR as impossible – EY

Most companies are unable to fully satisfy the terms of the EUʼs General Data Protection…

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BP Szeged SSC headcount approaching 500

The headcount of BPʼs shared services facility in Szeged, southern Hungary, is closing in on…

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Investment fundsʼ net asset value up 5% in 2018

Net asset value (NAV) of investment funds in Hungary rose 5% to total some HUF…

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Business confidence down, consumer confidence up in February

Economic research institute GKIʼs Economic Sentiment Index, its combined gauge of consumer and business confidence,…

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Business confidence worsens, consumer confidence improves in February – GKI

Economic research institute GKIʼs combined gauge of consumer and business confidence fell 0.4 point to…

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Tarlós recommends flight ban between midnight and 5 a.m.

Mayor of Budapest István Tarlós said he would recommend closing Ferenc Liszt International Airport to…

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KKI presents roundtable on last 100 years of Austria

The Institute of Foreign Affairs and Trade (KKI) is organizing a pubic lecture titled “100…

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Fitch upgrades Hungary to ʼBBBʼ; outlook ʼstableʼ

Fitch Ratings raised Hungaryʼs long-term foreign and local currency Issuer Default Ratings (IDRs) from “BBB-”…

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More European funds to support energy efficiency in residential buildings

The European Local Energy Assistance (ELENA) facility will benefit from EUR 97 million of new…

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Govʼt decides on developments in 440-450 villages

Hungaryʼs government took decisions on “economic development matters” affecting 440-450 villages at a cabinet meeting…

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Oxford University Press opens Budapest tech center

Oxford University Press opened its most recent tech center in Budapest; it will strengthen OUPʼs…

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3 out of 10 Hungarians changed jobs due to workplace stress

About three out of ten employees in Hungary have already changed jobs due to workplace…

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Ticket sales for direct Shanghai-Budapest flights start in June

Sales of tickets for direct flights between Budapest and Shanghai are set to start on…

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Enmech Hungary invests HUF 6.4 bln in capacity expansion

Automotive parts manufacturer Enmech Hungary is investing HUF 6.4 billion in expanding production capacity at…

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Microsoft Hungary names Mattheisen new general manager

Microsoft Hungary has announced the appointment of former Magyar Telekom CEO Christopher Mattheisen as general…

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Gerald Grace named Invitech CEO

Business IT solutions provider Invitech has announced the appointment of Gerald Grace as Chief Executive…

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Hungaryʼs state debt 70.9% of GDP, including Eximbank

Hungaryʼs national debt as a percentage of GDP reached 70.9% at the end of last…

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ALLEA reinforces call for academic freedom of MTA

The European Federation of Academies of Sciences and Humanities (ALLEA) has repeated its call to…

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Slovenia to cancel hydroelectric plants along Mura

Sloveniaʼs Minister of the Environment Jure Leben has announced a decree that will cancel the…

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MNB sets date for old HUF 10,000 bill withdrawal

The National Bank of Hungary (MNB) will withdraw old HUF 10,000 bills at the end…

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The music of nations presents France

The concert series of the Sinfonietta Pannonica Ensemble, representing the style and tunes of various…

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S&P upgrades Hungary to ’BBB’; outlook ’stable’

Standard & Poor’s Global Ratings, one of the three big ratings agencies, has upgraded Hungary’s…

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Dunaferr raises wages by 13% on average

Iron- and steel group Dunaferr announced it will raise the salary of its employees by…

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Work permit quota for non-EU nationals set at 57,000 in 2019

Hungaryʼs Minister of Finance has set the quota for work permits issued to foreign nationals…

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Farmgate prices up 5.8% in December – KSH

Farmgate prices in Hungary were up 5.8% year-on-year in December 2018, the Central Statistical Office…

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