HungaryTrends – The week in business and finance

See below the main business and financial news from the previous week:

LUXURY-THEMED HOTEL OPENS ITS DOORS IN THE HEART OF BUDAPEST 

After completing its initial trial period, the five-star luxury hotel Mystery Hotel Budapest has opened its doors to visitors in the capital, as reported by turizmus.com. Read more HERE.

FOREIGN WORKERS ARE FLOODING TO HUNGARY TO MEET LABOUR SHORTAGES 

In the last few years, the number of Hungarian workers has drastically decreased, meaning companies have no option but to employ foreign workers, reported 24.hu. Based on figures from Work Force, foreign workers are increasingly the solution to labour shortages. Read more HERE.

HUNGARY’S AVERAGE NET WAGES ARE STILL VERY LOW: 712 EUROS PER MONTHS! 

The average gross wage for full-time workers in Hungary rose by an annual 12.1 percent to 345,860 forints (EUR 1,070) in February, the Central Statistical Office (KSH) said on Tuesday. Read more HERE. 

MOL TO BUILD HUF 3 BN BITUMEN PLANT IN ZALAEGERSZEG

Hungarian oil and gas company MOL laid the cornerstone of a 3 billion forint (EUR 9.3m) rubber bitumen plant in the western Hungarian town of Zalaegerszeg. The plant will start production in 2020, turning out an annual 20,000 tonnes of rubber bitumen made from half a million old tyres.

TUNGSRAM ADDS AIRCRAFT ENGINE MAINTENANCE TO PALETTE WITH USD 1.5 M INVESTMENT

Hungary’s Tungsram group announced plans to spend 1.5 million US dollars to add an aircraft engine parts maintenance facility at its lighting plant in Kisvárda, northeast Hungary. GE Aviation Hungary, a unit of General Electric (GE), Tungsram’s former owner, will transfer all aircraft engine pipe and tube maintenance to Tungsram in the course of 2019.

Featured image: MTI

Source: MTI