Tag: companies

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BMW Group Hungary appoints new CEO

July 16, 2019, 11:50 am
As of 1 August, Maciej Galant will be appointed CEO of BMW Group Hungary, the company announced on Tuesday. Maciej Galant has been CEO of BMW Group Slovenia for the past three years. He joined BMW in... 

Payment deadlines getting shorter in Hungary

July 16, 2019, 11:16 am
Hungarian companies set extremely tight payment deadlines, which is why many customers are forced to apply for extensions, international collection agency Intrum said in its latest European Payment Report... 

Hungary to buy stake in mobile provider

July 16, 2019, 10:08 am
The Hungarian government could acquire a25% stake in mobile phone provider Telenor Hungary before the end of the year, the daily Népszava reported citing several sources. According to sources, the government... 

Visitors leave HUF 100 mn on festival cards

July 16, 2019, 8:58 am
Festival organiser Sziget Zrt. had more than HUF 104 million revenue last year from money left on the FestiPay cards used exclusively to pay at its events, Világgazdaság reported on Tuesday based on the... 

Japan's Toray Industries to invest EUR 390 million in Hungary

July 12, 2019, 5:57 pm
Japan’s Toray Industries, a global supplier of battery separator film (BSF) for lithium-ion secondary batteries, is to build a manufacturing plant in Nyergesújfaul, Hungary with an investment of... 

AI projects fail 85% of the time

July 12, 2019, 11:08 am
85% of all artificial intelligence projects are failures, owing to resistance from employees, lack of budget or mistakes in technical implementation. Using AI will be a key topic at the Portfolio-MAGE... 

Lidl to install hundreds of charging points for e-cars in Hungary

July 12, 2019, 8:40 am
Retail chain Lidl will build a network of nearly 400 charging points for electric cars near its Hungarian stores, the daily Világgazdaság reported. According to Világgazdaság, Lidl Hungary has received... 

Hungary gov't discusses Budapest Bank sell-off

July 11, 2019, 3:45 pm
The deadline Hungary’s Prime Minister Viktor Orbán has given to minister Andrea Bártfai-Mager to conduct negotiations on the privatisation of Budapest Bank has passed on 30 June. The only thing we... 

Let's see the wood for the trees! EU automobile industry on a collision course

July 11, 2019, 1:47 pm
The European Automobile Manufacturers Association (ACEA) has published an exciting ‘Pocket Guide’ on the automobile industry, which reveals how many people worked in the sector, how many vehicles... 

U.S. corporate coalition to help Hungary eliminate labour shortage

July 11, 2019, 9:31 am
Four American financial institutions started cooperating under the umbrella of the United States Chamber of Commerce to cultivate Hungarian talent, support universities and attract Hungarians back from... 

Bavaria to invest HUF 45 bn in Hungary in near future

July 11, 2019, 9:14 am
Bavarian companies are preparing to invest HUF 45 billion in Hungary in the short term, Minister of Foreign Affairs and Trade Péter Szijjártó told state newswire MTI on Wednesday. Szijjártó was speaking... 

Hungary 4iG has regional plans following T-Systems acquisition

July 10, 2019, 11:29 am
As reported yesterday , exchange-listed IT group 4iG is buying T-Systems Hungary, the IT unit of Magyar Telekom. We sent a number of questions to both 4iG and T-Systems regarding the deal; below are the... 

Hungary OTP Bank raises capital of Montenegrin unit

July 10, 2019, 10:51 am
The Montenegrin Court of Registration registered a capital increase at Crnogorska komercijalna banka, the Montenegrin subsidiary of OTP Bank, OTP announced on the Budapest Stock Exchange website on Wednesday.... 

Hungary's private health industry continues to grow

July 10, 2019, 10:29 am
Healthcare can be a good business in Hungary: according to our data, private health providers had a fine year in 2018 even though it fell short of the outstanding 2017. Revenue growth slowed, but net profit... 

How will the sale of T-Systems change Hungary's Magyar Telekom?

July 9, 2019, 5:07 pm
In view of the how T-Systems fared over the last few years, the sale of its subsidiary to 4iG could reduce its sales revenue by nearly one sixth, whereas its profit is not seen changing meaningfully. ... 

How large will Hungary's new IT giant be?

July 9, 2019, 3:40 pm
By taking over T-Systems, Hungary’s 4iG is becoming a big shot on the country’s IT market. Annual turnover of the new company is likely to be close to 150 billion forints in the short term.... 

Hungary 4iG is buying T-Systems

July 9, 2019, 12:22 pm
Rumours proved to be truet, 4iG is buying one of the Hungarian IT market’s largest player, T-Systems that is a market leader in several segments. Magyar Telekom’s subsidiary is immense compared... 

Branches may be doomed as Hungarians visit banks less and less

July 9, 2019, 9:22 am
As a result of digitalisaton, the number of both customer visits and daily transactions have decreased in Hungarian bank branches, although the increased value attributed to consulting may keep some of... 

Hungary Wizz Air announces new flight to Kazan, Russia

July 8, 2019, 4:58 pm
Hungary-based no-frills airline Wizz Air is going to offer a new service from Budapest to Kazan, Russia. The new route will have two flights a week by Airbus A320 aircraft as of the end of October. The... 

OTP saves EUR 5 mn on Montenegrin bank

July 8, 2019, 8:54 am
OTP announced back in February that it was buying Societe Generale's unit in Montenegro. It now turns out that OTP can buy the bank for substantially less than the originally agreed price. The local... 
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