Tag: companies

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Hungarian fund managers find new top pick

February 8, 2019, 12:36 pm
The first months of 2019 was bustling for capital markets, and as stock market indices overseas rose the Budapest Stock Exchange (BSE) also kicked off the year with gains, although the BUX index was unable... 

Common e-ticket system for MÁV, Volán, BKK - Budapest mayor

February 8, 2019, 9:23 am
If the Centre for Budapest Transport (BKK) does not contract for the new electronic ticket system, chances are high that the BKK will be abolished, Budapest mayor István Tarlós told daily newspaper Magyar... 

UniCredit has smashing year-end, profit beats expectations

February 7, 2019, 3:49 pm
UniCredit posted 1.73 billion euro after-tax profit in the fourth quarter of 2018, greatly beating expectations. The Italian banking group’s Hungarian arm had EUR 177 mn annual profit (nearly HUF... 

Hungary Richter quarterly profit plummets

February 7, 2019, 8:23 am
Beating the market’s call, revenues of Hungarian drugs maker Richter rose to a new quarterly high in October-December 2018, as both domestic and U.S. sales showed double-digit growth. Whereas Richter’s... 

Reporting season to kick off in Hungary - What to expect?

February 6, 2019, 5:06 pm
The reporting season is in full swing around the world, and Hungary’s listed companies are also going to start releasing their earnings reports for October-December 2018 shortly. Richter will be... 

Yet another strike in Hungary's automotive sector

February 6, 2019, 12:41 pm
The National Trade Union of Employees Designed for Life (ÉTMOSz) has announced a two-our strike to be held at the Miskolc-based (northeast Hungary) plant of SEG Automotive. The trade union has failed... 

Bosch learns from strike at Audi Hungaria, nods on union demands

February 6, 2019, 11:44 am
A wage agreement has been reached at the Hungarian plant of German automotive supplier Bosch in Hatvan (some 60 km east of Budapest), and its terms are similar to those demanded by the trade union, local... 

Raiffeisen 2018 profit disappoints, bank to pay higher dividend

February 6, 2019, 9:20 am
Raiffeisen Bank International (RBI) has published its preliminary results for 2018, reporting after-tax profit of 1.27 billion euros. Although the management of the Austrian banking group is extremely... 

Strike begins at Tesco Hungary

February 6, 2019, 9:00 am
More than 17,5000 employees of Tesco Hungary are expected not to receive their January salary on time because the remuneration section of the closure-slated Győr-based (northweste Hungary) bureau have... 

Hungary's OTP buys bank in Moldova

February 6, 2019, 8:16 am
Moldovan press reports were right: Hungary’s OTP Bank has announced on Wednesday that it has acquired a majority stake in the country’s fourth-largest bank, Mobiasbanca, from Societe Generale... 

Tesco to eliminate non-recyclable packaging also in Hungary

February 5, 2019, 4:01 pm
Tesco is taking another step towards environmentally friendly operation. It has announced that it has committed to making all packaging fully recyclable or compostable by 2025 in Hungary. As regards... 

Hungary ordered to pay Sodexo about EUR 73 million

February 5, 2019, 10:48 am
The Hungarian state has been ordered by an arbitration court to pay Sodexo an award of about 73 million euros for forcing the vouchers company out of the Hungarian market via regulations in 2012. The decision... 

One-week strike in Hungary causes major loss for Audi

February 5, 2019, 9:08 am
More than ten thousand cars were never made in Audi AG’s central manufacturing plant in Ingolstadt, Germany due to the one-week strike held at the Hungarian unit of Audi in Győr, northwest Hungary... 

Change in the executive management of Hungary's Richter

February 5, 2019, 8:31 am
Gedeon Richter, Hungary’s leading pharmaceutical producer, has announced on Tuesday that from 5 February, CEO Gábor Orbán will act as chief of technical services, until the appointment of a new technical... 

Will Budapest Bank be sold to a foreign investor?

February 4, 2019, 3:19 pm
Although Erste and KBC had both expressed interest in buying Budapest Bank from the Hungarian state, it is unlikely that Prime Minister Viktor Orbán’s cabinet would pick a foreign buyer. If it did... 

Hungary's OTP seen entering a new market

February 4, 2019, 11:11 am
Hungary’s OTP Bank may acquire a majority stake in Moldova’s Mobiasbanca, member of Societe Generale Group, according to Moldovan press reports. OTP’s management is expected to hammer... 

Hungary Richter signs license and supply deal

February 4, 2019, 8:12 am
Gedeon Richter, Hungary’s leading pharmaceutical producer, has announced on Monday that it has inked a license and supply deal with Pantarhei Bioscience BV to commercialise the Dutch company’s... 

Cut-throat competition for first place among Hungarian brokerages

February 1, 2019, 4:30 pm
After some turbulence at the end of 2018, stock markets in developed economies started to rise slowly at the start of 2019, and the BUX index of the Budapest Stock Exchange (BSE) fared downright great... 

Noerr has advised AEW Europe on acquisition financing of retail unit Luxus Aruhaz in Budapest

February 1, 2019, 3:58 pm
Noerr has advised AEW Europe on the acquisition financing of the prestigious "Luxus Aruhaz" retail unit at Vorosmarty square in the heart of Budapest. The transaction was financed by UniCredit Bank AG... 

New Partner Appointment at Noerr in Budapest

February 1, 2019, 3:57 pm
Viktor Füzi (39) has been appointed Associated Partner at Noerr’s Budapest office. Viktor has been with Noerr for over 2,5 years and has been advising major international clients on a range of... 
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