HungaryTrends – The most important business and finance news from Hungary
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See below main business and financial news from the previous week:
BUDAPEST FLAT PRICES ARE LOW COMPARED TO EU AVERAGE
Budapest flats count as cheap among European cities, according to Otthon Centrum and Global Property Monitor’s study concerning real estate markets in capitals and significant financial centres. Read more HERE.
MIDDLE-EAST HOTELIER LEADS BUDAPEST RITZ-CARLTON
Rahim Abu Omar, a professional with experience in hospitality of more than three decades, will be responsible for controlling the hotel, and for further increasing its outstanding position in local, regional, and international markets. Read more HERE.
BUDAPEST-BASED STARTUP AIMOTIVE RAISES USD 38M IN FUNDING
AImotive, a self-driving technology startup headquartered in Budapest, announced the closing of a 38 million dollar Series C funding round. The funding round was led by B Capital Group and Prime Ventures, with participation from Cisco Investments, Samsung Catalyst Fund, and Series A and B investors Robert Bosch Venture Capital, Inventure, Draper Associates and Day One Capital. AImotive will use the funding to continue to develop its proprietary autonomous driving technology which applies the same methodology that supports the high level of safety in the aviation industry.
NEW DIRECT BUS LINE STARTS FROM BUDAPEST TO VIENNA FOR 9 EUROS
A new direct line starts from RegioJet, which connects the capital cities of Hungary and Austria – Budapest and Vienna. Read details HERE.
VEOLIA ACQUIRES POWER PLANT IN HUNGARY
Veolia Energia Magyarország acquired a 98 percent stake of Bakonyi Erőmű, the operator of a power plant in western Hungary that has capacity to generate 132MW of electricity and 360MW of heat energy. Veolia wants to reduce the amount of coal burned at the plant which is fueled mainly with biomass. Veolia owns two other biomass-fueled power plants in Hungary.
NEW PASSENGER CAR SALES SET TO REACH 125,000 IN 2018
The Hungarian Association of Vehicle Importers (MGE) said it expects new passenger car sales in Hungary to rise by 7.5 percent to 125,000 this year. Last year, new passenger car sales jumped 20 percent to 116,000.
HUNGARY JOBLESS RATE FALLS TO 3.8 PC
Hungary’s rolling average three-month jobless rate dropped to 3.8 percent in November, the Central Statistical Office said. The rate fell from 4.0 percent a month earlier and from 4.5 percent a year ago.