News and articles
PDD Holdings and Temu’s challenges: weakening results, increasing competition and EU strictness
PDD Holdings, the Chinese giant that operates online shopping platforms Pinduoduo and Temu, is going through a difficult period. Its third-quarter financial results fell short of analysts’ expectations, while the...
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LG announces organizational changes to achieve its 2030 vision
LG Electronics (LG) announced a number of organizational changes and executive appointments following approval by the board of directors. The reorganization aims to help the company achieve its mid- to...
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The golden age of board games: a billion-dollar industry in Hungary
The world of board games has experienced unprecedented development in recent years, including in Hungary. The market, which previously featured only a few players, now has more than twenty publishers,...
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Ministry of Agriculture: Strengthening direct producer sales in focus
Sustainability is a key issue in all areas of our lives these days. From an economic and social perspective, the development of food supply chains that, in addition to strengthening...
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AgroVIR Kft. acquires the Hungarian operation of NEXT Farming software
On November 13, 2024, AgroVIR Kft. acquired a 100% stake in FarmFacts Hungary Kft., the distributor of NEXT Farming software. FarmFacts Hungary Kft. was previously owned by BayWa AG and...
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Publication helps farmers apply for the new Agri-Environmental Management Support
A new agri-environmental management program (AKG) will be launched in Hungary from January 1, 2025. The National Chamber of Agriculture has summarized information about the AKG in a handbook so...
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Q-Commerce Shoppers Opt For Smaller Basket Sizes, Notes DIA
Quick-commerce shoppers in Spain purchase baskets of smaller volumes and value, but shop on a weekly basis, an analysis of customers by Glovo and DIA has shown. Shoppers who opt...
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Shiseido launches sign language beauty consultations
The service uses sign language, lip reading, and chat. Shiseido has officially launched a free online beauty consultation service tailored for customers with hearing impairments. The service, available through its...
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A new era in streaming: 2.4 million Hungarian gamers and brands meet
Publicis Groupe Hungary has joined the inStreamly platform as an exclusive partner in Hungary, bringing unique, interactive advertising opportunities to the world of live gaming streaming, the popularity of which...
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NAV: Several pounds of frozen food found in a Budapest warehouse was destroyed
Among spare tires, used furniture and clothes, the financial inspectors of the National Tax and Customs Administration (NAV) Directorate of Operations found several kilograms of frozen food in a warehouse...
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Carrefour Italia Focuses On Franchising And Italian Organic Products
Carrefour Italia is implementing a recovery strategy focused on franchising expansion and its Act for Food programme. This follows a disappointing summer and a 3.5% drop in first-half sales, to...
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Fertilizer prices fell by almost 30 percent
Fertilizer distributors sold 1,044 thousand tons of fertilizer directly to farmers in the first three quarters of 2024, which exceeded the volume a year earlier by 25.2 percent. In addition,...
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Holiday Shopping Study 2024: European Consumers Plan Ahead Amid Economic Pressures
The “Holiday Shopping Study 2024,” conducted by ShopFully and Offerista Group, surveyed 4,312 users aged 18 and older across eight European countries (Austria, Bulgaria, Germany, Spain, France, Italy, Romania, and...
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Nestlé Szerencs factory expands with new solar park
The 1.5 GW annual capacity solar park will come into operation next March at Nestlé’s Central European regional coffee and cocoa powder production and filling center, which will cover nearly...
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Oversupply in the office market, returning demand in retail properties and hotels expected in 2025
The Hungarian commercial real estate market is currently characterized by a decline in transaction numbers and a wait-and-see attitude, but experts at BDO Corporate Finance expect a recovery in the...
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The 3.01-liter soda bottle debate: Not a deliberate circumvention of the system, but a temporary solution
Regarding the controversy surrounding the 3.01-liter soft drink bottles appearing on the Hungarian market, the head of Üdítő Centrum Kft., Zsolt Fórián, clarified the situation. In a statement to the...
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Black Friday: From a one-day sale to a month-long shopping frenzy
Black Friday, the huge wave of price reductions that started in the United States, has now taken deep roots in Hungary. The shopping frenzy, which was originally limited to a...
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Hungarian family businesses invest in cooperation, not generational change
More than 20 percent of the 515,000 partnerships operating in Hungary today, or 130,000, are family businesses, where the owners are connected by some kind of kinship. Among them, there...
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Only two weeks left: thousands of Santas are running in downtown Budapest this year
The Santa Run season has begun, and after major cities around the world, such as Tokyo, Liverpool, Stockholm, Las Vegas, or even the Swiss capital, the red costumed running race...
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The #vadateszem campaign has been launched
The launch of the #vadateszem campaign, which also draws attention to a healthy and varied diet, is a new impetus in the promotion of game meat, said Dr. Beáta Olga...
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K&H innovation index: Hungarian corporate innovation at a low point
The results of the K&H Innovation Index for the second half of 2024 show a worrying decline in the innovation performance of domestic companies. The index, which measures the innovation...
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Chilean “seed guardians”: fighting to preserve traditional plant varieties
The Chilean “seed guardians” movement has taken on a unique and significant mission: to preserve the genetic diversity of traditional, ancient plant varieties. Global food production is increasingly shifting towards...
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A significant minimum wage increase is expected in Hungary: the gross amount will be 374 thousand forints by 2027
The minimum wage in Hungary will be increased by 9 percent next year, by 13 percent in 2026, and by a further 14 percent in 2027, according to Portfolio, which...
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Sándor Czomba: the minimum wage will increase by nine percent next year
The minimum wage will increase by nine percent next year, thirteen percent in two years, and fourteen percent in three years. It was not easy, but the wage agreement between...
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MOHU collected 700 million bottles in six months
By mid-November, 700 million bottles, jars and cans had been redeemed in Hungary in the new redemption system – MOHU told MTI. They highlighted that the waste of the redeemed...
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Revolut 2025: The fintech giant takes things to new heights
One of the most prominent players in the fintech world, Revolut, has announced its ambitious plans for 2025. The company, which has gained more than 10 million new customers this...
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Mihály Varga: the government stands by the interests of Hungarian farmers
The government views agriculture as one of the pillars of sovereignty, and therefore will continue to stand by the interests of Hungarian farmers in the future, the Minister of Finance...
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Májustól akár felszámolással is járhat az Oroszország elleni EU-szankciók megsértése
The European Union (EU) directive, adopted in April this year and to be implemented in Hungarian law by May 2025, obliges member states to introduce criminal and non-criminal measures in...
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A turbulent year for aviation: airlines worldwide declared insolvency
The difficulties of this year have posed a serious challenge for many airlines. While in 2023, high ticket prices and an increase in the desire to travel had a positive...
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Focus on strengthening direct producer sales
Sustainability is a key issue in all areas of our lives today. From an economic and social perspective, the development of food supply chains that, while strengthening the local economy...
Read more