Tag: companies

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Budapest Bank skyrockets, privatisation on track

March 19, 2019, 12:29 pm
Budapest Bank reported a decline in its annual profit in 2018 but that was expected, and its lending growth was over the Hungarian banking sector’s average, the bank told a press conference on Tuesday.... 

Hungary's OTP addresses report on Slovenian bank acquisition

March 19, 2019, 11:32 am
According to a Slovenian daily newspaper, Hungary’s largest bank by assets OTP has submitted the highest bid of EUR 300 million for the third-largest bank of the country, Abanka. OTP has partly rejected... 

ANALYST VIEW - Morgan Stanley sets target price for OTP to HUF 13,500

March 19, 2019, 8:48 am
Morgan Stanley has raised its target price for Hungary’s OTP Bank. The new TP offers a 5% upside potential compared to OTP’s closing price on the Budapest Stock Exchange (BSE) on Monday. ... 

Hungary Magyar Telekom to pay HUF 25 dividend per share

March 19, 2019, 8:22 am
The Board of Directors of Magyar Telekom, Hungary’s leading telecommunications group, proposes a dividend distribution in total HUF 26.068 billion to be approved by the Annual General Meeting of... 

German automotive firm ditches 2019 profit target, announces job cuts

March 18, 2019, 4:42 pm
German automotive cable and wiring system specialist Leoni has given up its 2019 profit target it issued a little more than a month ago, unveiled staff reductions as well as possible divestments and said... 

Hungarian retail chain could be paralysed soon

March 18, 2019, 4:08 pm
Unless the management of the retail chain Metro strikes a deal with the trade union on the demanded wage hike by 2 April, there will be a strike at the company, broadcaster Atv reported on Monday. A... 

German group boosts Hungarian headcount by 30%

March 18, 2019, 9:20 am
Germany’s industrial services specialist Leadec Group hired 150 people in its Győr-based (northwest Hungary) plant, boosting its headcount there by 30%, the company told state-owned newswire MTI... 

Massive shift of wealth is in progress globally

March 14, 2019, 3:36 pm
Within a decade, the Y and Z generations will have greater assets than all the other generations combined. And in the meantime, the older generations are also increasingly opening towards the digital world... 

Hungary vies for 18 large German investment projects - minister

March 14, 2019, 9:01 am
Hungary is competing for 18 large potential investment projects by German companies operating mainly in the automotive and services centre sectors, said Minister of Foreign Affairs and Trade Péter Szijjártó.... 

Hankook Hungary talks about impact of ongoing strike

March 13, 2019, 1:50 pm
The Hungarian operation of premium tyre maker Hankook has been unaffected only moderately by the ongoing strike so far, the company said on Wednesday. More than 70% of those in the morning shift went to... 

Raiffeisen will need to "re-evaluate Romania", says RBI CEO

March 13, 2019, 12:06 pm
Due to a new “greed tax" Romania imposed on banks, Raiffeisen Bank International (RBI) will need to re-evaluate its presence in the country, Chief Executive Officer Johann Strobl said in the bank’s... 

Raiffeisen Hungary posts annual profit over HUF 20 billion

March 13, 2019, 10:19 am
Raiffeisen Bank International (RBI) reported 1.27 billion euro after-tax profit for 2018 on Wednesday, in line with a preliminary report released on 6 February. The Hungarian operation of the Austrian... 

Hankook workers go on strike at Hungarian plant

March 12, 2019, 4:08 pm
Following a two-hour warning strike staged last week, the workers at the Rácalmás-based plant, some 50 kilometres south of Budapest, of tire producer Hankook have started an open-ended walkout at 2 P.M.... 

Tesco to create 800 new jobs in Hungary

March 12, 2019, 3:19 pm
UK-based retail chain Tesco Group will be opening a new business and technological service centre in Hungary, creating 800 new jobs, Minister of Foreign Affairs and Trade Péter Szijjártó announced in Budapest... 

Three-day strike starts at automotive company in Hungary

March 12, 2019, 11:50 am
A three-day strike has started at the Oroszlány-based plant of Chinese-owned manifold maker Westcast Hungary Autóipari Zrt. at 8 A.M. on Tuesday. None of the shifts will start during the walk-out and the... 

Aldi pays the most to store staff in Hungary - portal

March 12, 2019, 9:15 am
Germany retail chain Aldi offers the highest salaries for store staff in Hungary, according to the latest data cited by blokkk.com on Tuesday. There is a cut-throat competition for shop staff, as every... 

OTP chief Sándor Csányi may receive partner on top of bank

March 12, 2019, 8:22 am
OTP, Hungary’s largest bank by assets, is going to hold its annual general meeting on 12 April, its invitation for the AGM showed on Tuesday. The agenda includes the amendment of the Articles of... 

Dutch solar power company connects new units to Hungarian grid

March 11, 2019, 12:20 pm
Global solar power solutions provider Photon Energy has announced that its Hungarian subsidiary has built and grid connected eight photovoltaic power plants with a combined capacity of 5.5 MWp in Almásfüzitő.... 

K&H Bank posts all-time high profit, awaits details on gov't scheme

March 7, 2019, 4:43 pm
K&H Bank, the Hungarian arm of Belgium’s KBC Group, posted a record profit of nearly 58 billion forints in 2018, which resulted in a 21% return on equity (ROE), well above the local banking sector’s... 

French GMD to build EUR 46 million car parts plant in Hungary

March 7, 2019, 1:39 pm
France’s GMD Group is to set up a vehicle parts plant in Dorog, northern Hungary. The company is to spend 14.5 billion forints (EUR 45.99 mn) on the project, while the Hungarian government supports... 
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