Hungary

From orphanage to Notre Dame: A Hungarian carpenter’s incredible role in the restoration of the cathedral

In 2019, Notre Dame Cathedral in Paris was ravaged by a catastrophic fire that severely damaged iconic parts of the historic structure, such as the central tower and roof. The restoration of this centuries-old masterpiece quickly turned into a monumental international effort, drawing on expertise from around the world.

Among those involved was Árpád Rostás, a Hungarian master carpenter whose exceptional talent came to the attention of the French Embassy. The embassy encouraged him to apply for the Notre Dame restoration project, and Rostás did not disappoint. To demonstrate his skills, he restored a crumbling chair from 1880. His impeccable craftsmanship impressed the French experts, who received his work with deep appreciation and admiration.

Notre Dame
Source: Pixabay

The path to Notre Dame

According to Origo, Árpád Rostás’s path to international recognition was anything but smooth. Raised in an orphanage, he discovered his passion for carpentry at a very young age. His early fascination with woodcarving became the foundation of his future career. However, passion alone was not enough. Over decades, Rostás honed his craft by studying under master carpenters, learning their secrets and refining his artistry. Rostás’s perseverance, unique vision and deep knowledge eventually earned him a reputation as one of the world’s finest craftsmen.

More than just a carpenter, Árpád Rostás is a master restorer of antique wooden furniture and a leading expert in inlay work. His creations and restorations grace some of the world’s most prestigious landmarks, including the Carmelite Monastery, the Louvre in Paris, Schönbrunn Palace and the Palace of Versailles. He even designed an exquisite cradle for Princess Catherine’s daughter, further cementing his reputation as a craftsman of unrivalled calibre.

Notre Dame
Source: Pixabay

The restoration of the cathedral

For the restoration of Notre-Dame, Rostás sourced centuries-old wood from Hungary, salvaged from the ruins of a castle cellar he had purchased. This rare, meticulously selected wood was essential to ensure the authenticity of the restoration. Rostás’ meticulous attention to detail and commitment to restoring the furniture to its original splendour brought the pieces back to their golden age.

Árpád Rostás’ work on Notre Dame has become a source of immense pride, not only for French professionals, but also for the people of Hungary. Rostás’s contributions extend beyond the Notre Dame project; his exceptional skill has left its mark on some of the world’s most treasured landmarks. More than a craftsman, Rostás is an artist whose dedication and talent are a testament to the enduring power of human ingenuity. Árpád Rostás’ legacy is a reminder that the work of skilled artisans can create a legacy that resonates on a global scale.

One of France’s most iconic cultural symbols, Notre Dame is set to reopen to the public in December 2024, five and a half years after the devastating fire. Although the Notre Dame project was originally scheduled to be completed before the Paris Olympics, precision was more important than speed. The reopening ceremony, attended by President Emmanuel Macron and other dignitaries, marked a triumph of craftsmanship and determination. Funded by more than EUR 840 million in donations, the restoration of the cathedral also serves as a beacon for future investment in cultural heritage.

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Hungarian FM Szijjártó: Hungary, Turkiye outline ‘new strategic milestone’ in bilateral cooperation

Cooperation between Hungary and Turkiye is better and more mutually beneficial than ever, and the two countries have also outlined a new “milestone” target for the coming years, Péter Szijjártó, the minister of foreign affairs and trade, said in Ankara on Thursday.

Hungary–Turkiye cooperation

Prime Minister Viktor Orbán had talks with President Recep Tayyip Erdogan today as part of the Hungarian peace mission, “which is especially important as the only really successful attempt at mediation in the war in Ukraine in the past thousand days is connected to Turkiye,” Szijjártó said, according to a ministry statement.

“Hungary has stuck to the same stance for a thousand days. It has become certain that there is no solution on the battlefield, that a settlement is possible only at the negotiating table, and that we need a ceasefire and peace talks as soon as possible,” he said.

At the meeting, they welcomed the unprecedented heights of bilateral cooperation which, he said, benefited both countries.

Meanwhile, the two countries reached a “strategic milestone” this year, when Hungary became the first non-neighbouring country to which Turkiye exports natural gas, Szijjártó said, adding that Hungary has already bought 275 million cubic meters.

“Today, we agreed to maintain that cooperation, and Hungary will receive natural gas next year too,” he said.

Turkiye and Hungary have also outlined a new milestone, to be achieved in the coming years, he said. “An agreement was made under which the leading oil companies of Hungary and Turkiye, MOL and TPAO, will start a new strategic cooperation that will enable MOL to be involved in exploring and tap new oil fields in Turkiye and also open an opportunity to the Turkish oil company to enter the Hungarian market,” he said.

“This is the new strategic goal we must achieve in the coming years,” he said.

Meanwhile, bilateral trade has hit new records, he said. “Cooperation also extends to new sectors, with cooperation between banks and in railway construction also on the list.”

Regarding energy security, Szijjártó said Turkiye was an important contributor to securing Hungary’s natural gas supply.

“More than 7 billion cubic meters of gas has arrived in Hungary through the Turkish Stream pipeline via Turkiye. This is a good deal more than the total [deliveries] last year. This year has shown that the Turkish Stream pipeline is capable of delivering more than 20 million cubic meters a day, which is good news regarding the energy security of the coming period,” he said.

Turkiye and Hungary also agreed on coordinating the measures they will have to take due to the US’s decision to put Russia’s Gazprombank on the sanctions list, Szijjártó said.

“Cooperation between Hungary and Turkiye continues to be very beneficial … and in view of current processes and trends, we can say that next year, Hungary will profit from it even more; and so will Turkiye,” he said.

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Willi Orbán vows to help RB Leipzig achieve ‘full potential’ after below-par start to the season

RB Leipzig have, slowly but surely, become one of the most consistent teams in the German Bundesliga and the Champions League.

But the Red Bull franchise hasn’t quite been at the races in 2024/25 so far… leaving their Hungarian ace and club captain, Willi Orbán, at a loss to explain their low-key start to the campaign.

However, the 32-year-old has vowed to do all he can to help the club unlock its ‘full potential’, and his performances so far this term confirm he’s leading from the front heading into a crucial chapter of the season.

Crisis on the Continental Front

One of the main casualties of RB Leipzig’s sluggish start has been their results in the revamped Champions League.

They lost all of their opening five games in the competition, leaving them trailing in the Champions League betting market to the likes of Liverpool (+450), Manchester City (+550), and Arsenal (+550).

Indeed, Champions League winner odds of +25000 suggest that Leipzig’s hopes of advancing in the continental showpiece are all but over.

And so attention will turn to domestic matters, where Die Rotten Bullen have their eyes fixed on another top-four finish… or better.

 

After 13 rounds of action, Leipzig find themselves in fourth place, albeit nine points behind the leaders Bayern Munich. However, a win – and other results going their way – could see Orbán and co leap as high as second in the table, which is more in-line with their ambitions.

However, the Expected Points table – which subtracts Expected Goals (xG) yielded from xG created – shows Leipzig’s ‘true’ position, based upon their performances, as a lowly ninth in the Bundesliga.

At least in Orbán they have a captain leading from the front…

Captain Fantastic

Increasingly these days in modern football, central defenders are athletic ball-players with an eye for a pass.

But that genre of player can sometimes struggle with the physicality of defending, which is why centre backs like the Hungarian are still worth their weight in gold.

Orbán prides himself on doing the ‘dirty work’ of defending, from making last-ditch tackles and blocks, to putting his head in where it hurts. No wonder his Leipzig teammates consider him to be such an inspirational leader.

After 13 rounds of Bundesliga games, Orbán ranks third amongst the division’s players for aerial duels won, third for successful blocks, and fifth for clearances made. He is, statistically speaking, the best defender in German football right now.

The powerhouse is also a handful in the opposition’s penalty area at set pieces, scoring four times in the Bundesliga so far this term.

But the Leipzig captain appreciates that there’s more work to be done, and while he was feeling bullish after his side’s 2-0 victory over Holstein Kiel early in December, Orbán confirmed that he and his teammates still had higher levels to strive for.

“We didn’t manage to play to our full potential in November, both as a team and as individual players,” he said.

But the belief is still there… and why wouldn’t it be, with Orbán leading from the front.

Navigating Senior Living: Retirement Homes vs. Independent Living

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Seniors often have numerous decisions to make. One question that must be answered is where they will live and how they will spend their time. Retirement homes and independent living are two options they will need to consider. While there are some similarities between these two options, men and women must be aware of the differences.

Retirement Homes

Retirement homes are frequently known as assisted living facilities. When looking into retirement home arrangements, families must understand that residents tend to be self-sufficient but need help. They can no longer live alone because they cannot complete essential daily activities of living without help.  Unlike a nursing home, a retirement home does not offer 24-hour care 7 days a week. Residents live on their own and have staff members come in and help them with specific tasks. They complete most things independently. 

Amenities found in most retirement homes include dining services, housekeeping, maintenance, and transportation. The community typically offers assistance with healthcare tasks, including medication delivery and management, nurse assistants, and fitness and wellness programs. The community may also provide an on-site fitness center and other amenities to keep residents active and improve their physical, mental, and emotional health.

The staff will help residents coordinate their care. In addition, these communities offer social programs and events, common areas where residents can socialize with one another or family and friends, and security on site. Each location determines which amenities it offers, so families must learn more whenever they visit a community to see if it is a good fit for their loved one.

Independent Living

Independent living, in contrast, is for men and women who can live independently while benefiting from community activities, amenities, and services. People often refer to independent living communities as supportive, retirement, or congregate communities. Residents benefit from being surrounded by their peers and may have some services on-site to make their lives easier. The services vary by community, so families must ask when visiting each community. However, some amenities are more common than others. 

Services and amenities frequently found in independent living communities include dining services, housekeeping, maintenance, and transportation. The community plans social programs and events while offering communal areas for residents and guests. However, monitoring and emergency support are typically the only healthcare services in an independent living community. Residents can call for help if they have an accident or injury, and staff members will check on them regularly, but the services are limited in this area.

Independent living is much like aging in place. Residents have their own living spaces and can gather with fellow residents and communal areas. They can still have privacy and time alone when desired, but they know someone is always around if they want companionship or need help. Residents may also benefit from on-site fitness centers, golf courses, tennis courts, and other amenities to stay active and healthy.

Men and women must realize that these communities differ in other ways. Each community determines what it offers residents. Families should visit multiple locations to find the right fit for their loved ones. Seniors don’t want to move regularly, so finding this community is very important. Once they settle in, they will want to remain there because they are thriving. In their final years, they have everything they want or need for the highest quality of life.

Disclaimer: the author(s) of the sponsored article(s) are solely responsible for any opinions expressed or offers made. These opinions do not necessarily reflect the official position of Daily News Hungary, and the editorial staff cannot be held responsible for their veracity.

Top Hungary news: SHEIN, tax benefits, HUF 15,000 coin, unhappy Hungarians, 101-year-old grandma, Schengen, passports ranked – 12 December, 2024

We’ve rounded up today’s best Hungary news; check them out below!

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National Bank of Hungary launches HUF 15,000 coin

The National Bank of Hungary has issued a commemorative coin collection to celebrate 150 years of the Hungarian Chamber of Notaries. Released on 12 December 2024, the coins include a silver collector’s version with a face value of HUF 15,000 and a non-ferrous metal edition valued at HUF 3,000. Both coins, designed by sculptor Balázs Pelcz, honour the establishment of modern notarial services in Hungary.

New coin released by the National Bank of Hungary

The National Bank of Hungary has issued commemorative coins celebrating 150 years of the Hungarian Chamber of Notaries, tracing its modern origins to the Act XXXV of 1874. This legislation redefined the notarial office, transitioning from its medieval roots under papal and imperial authority to a public service role under judicial reform. The silver collector coin, valued at HUF 15,000 (EUR 36.63), and its non-ferrous counterpart, worth HUF 3,000 (EUR 7.33), highlight the notarial coat of arms and honour Bálint Ökröss, a pioneering figure in Hungarian notarial history. Ökröss, a key drafter of the 1874 Act and a leader in the profession, also founded the Hungarian Gazette, which continues to be published.

The obverse

The commemorative coin released by the National Bank of Hungary features the notarial coat of arms as the central motif on the obverse. Inspired by an archaic-style seal with a cord, the design symbolises the act of authentication by notaries. The obverse also includes the inscription “150 ÉVES A MAGYAR POLGÁRI KÖZJEGYZŐSÉG” (150 Years of the Hungarian Chamber of Notaries) and essential coin elements such as “MAGYARORSZÁG” (Hungary), denominations of HUF 15,000 and 3,000, and the mint mark “BP.” with the year “2024.”

National Bank of Hungary launches HUF 15,000 coin
Photo: MNB

The reverse

The reverse of the commemorative coins issued by the National Bank of Hungary features a portrait of Bálint Ökröss, based on a historical photograph, as its central motif. The design includes Ökröss’s signature and an inscription in the upper legend recognising him as the drafter of the 1874 Act on Royal Notaries. Sculptor Balázs Pelcz, the coin’s designer, has placed his mark to the left of the portrait, further enhancing the tribute to this pivotal figure in Hungarian notarial history.

Photo: MNB

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American man found in Syrian prison after going missing in Budapest

An American man who went missing in Budapest earlier this year has been found in Syria after months of imprisonment. Travis Pete Timmerman, 29, was detained after entering Syria on a spiritual pilgrimage without permission and was discovered walking barefoot in Damascus following a mass release of detainees.

American man went missing in Budapest

As CNN reports, Travis Pete Timmerman, a 29-year-old man, was reported missing in June 2024. Hungarian police identified him in a bulletin as “Travis Pete Timmerman,” stating he was last seen at a church in Budapest‘s District 2, while a separate notice from the Missouri State Highway Patrol listed him as Pete Timmerman, with his last known contact occurring in Budapest on 2 June 2024. Timmerman previously worked for the Chicago-based Goldberg Law Group between 2020 and 2021, where Managing Partner Michael Goldberg described him as a “super nice guy” and “pretty smart.”

Travis Pete Timmerman American man went missing in Budapest, found in Syrian prison
Photo: police.hu

Missing man found in Syria

The missing American man, Travis Timmerman, has been found in Syria after months of imprisonment. Timmerman, who entered the country on a spiritual pilgrimage without permission, was detained in a Syrian prison after crossing the border from Lebanon. He was discovered walking barefoot in southern Damascus following a large-scale release of detainees this week, sparked by the overthrow of former president Bashar al-Assad. Speaking to CBS News, the American man recounted his experience, describing the conditions as tolerable, though he was restricted in his movements. His cell door was reportedly broken open by armed men on Monday, prompting his escape with a group heading toward Jordan.

Repatriation in progress

The Syrian government has confirmed the American man’s release, and US officials are working to repatriate him. US Secretary of State Antony Blinken stated efforts are underway to bring Timmerman home but withheld specific details. The discovery comes amid ongoing searches for Austin Tice, an American journalist missing in Syria since 2012. The interim Syrian government reaffirmed its commitment to finding Tice, with officials stating that the search continues.

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FDA accepts submission for Hungarian pharmaceutical company Richter denosumab biosimilar

Hungarian pharmaceutical company Gedeon Richter and UK-based peer Hikma on Thursday announced that the United States Food and Drug Administration (FDA) accepted an application for Richter’s denosumab biosimilar candidate.

Richter application accepted by FDA

The candidate, RGB-14, comprises two biosimilar products referencing Prolia and Xgeva. Richter‘s denosumab is a human monoclonal antibody for the treatment of osteoporosis and fractures due to bone metastasis.

In December 2021, Hikma entered into an exclusive license agreement to commercialise denosumab in the US.

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Csaba Pecsenye appointed head of National Judicial Council in Hungary

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The National Judicial Council (OBT) has elected Csaba Pecsenye as its head for a three-year term, the body said on Thursday.

Csaba Pecsenye appointed

Ahead of the meeting on Wednesday, the OBT received a letter from representatives of the Hungarian Judicial Association and the Res Iudicata Association protesting against the appointment, the statement said.

In response to several comments that the agreement “lacked legal grounding” and that the OBT had no mandate from judges to enter into an agreement, Pecsenye said the payment of judges and judicial employees, the preparation of legislation in connection with the judicial system, as well as opinions on relevant legislation was under the purview of the directing bodies of the judiciary, and so the agreement was compliant with the Fundamental Law and the law on the organisation and management of courts, Pecsenye said.

“The agreement itself doesn’t harm judges’ independence, although legislation as a means to achieve a certain goal does carry the danger that legislation harms judicial independence,” he said.

Commenting on the letter after a council discussion on the judges’ proposals on the agreement, Pecsenye said the decision was not “an insult to the honour of the body”. “It is possible that the OBT makes bad decisions from time to time, but that in itself doesn’t harm anyone’s honour. Rather than whipping up emotions, it would be better to find solutions to any possible bad decisions,” he said.

“A small portion of the comments” referred to the need to tackle the issue, and that the judicial system needed a reform, Pecsenye said. He noted that under the Fundamental Law, parliament is the main body of the people’s representation in Hungary, which drafts laws, adopts the budget and its implementation and elects the prime minister, among other tasks. The legislative and executive powers have a right to define the framework of the system of courts, but must obtain the opinion of courts when shaping the judicial system; one of the ways to do that is by involving judicial bodies, including the OBT, in the legislative process, he said. Accordingly, the OBT is part of the process of legislative preparation for which it obtains the opinions of ogranisations representing the interests of judges in the process, he said.

“Our goal is to concentrate on … giving our opinion on the legislation before us … the OBT will also channel the opinion of ogranisations representing the interests of various groups,” Pecsenye said.

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Hungarian passport among the world’s 10 strongest

The Hungarian passport is soaring in global rankings, offering visa-free access to 155 countries and surpassing major nations like Germany and the UK, cementing its place as a powerful travel asset for Hungarian citizens and a boost for Hungary’s tourism appeal.

Hungarian passport among the top 10

As Turizmus Online writes, the Hungarian passport has climbed the global rankings, reflecting its growing strength in providing visa-free or visa-on-arrival access to its citizens. As of December 2024, Hungarian citizens can travel to 155 countries without a visa, with an additional 23 requiring e-visas and 17 necessitating traditional visas. This places Hungary ahead of notable countries such as Germany, Portugal, Switzerland, Croatia, Greece, and the United Kingdom. Meanwhile, the Singaporean passport remains the world’s strongest, achieving a top score of 91.27, followed by Finland, Spain, Denmark, and Italy, which round out the top five.

hungary passport hungarian people leaving at historic high
Photo: Daily News Hungary

Destinations that require visas

Despite the advantages of the Hungarian passport, there are still destinations requiring visas for Hungarian citizens, including Afghanistan, Algeria, Chad, Cuba, North Korea, Sudan, and Turkmenistan. However, the rising rank of the Hungarian passport is poised to enhance Hungary’s appeal in international tourism, encouraging Hungarian travellers to explore more accessible destinations. This success not only strengthens Hungary’s global standing but also boosts the visibility of Hungarian tourism and travel on the world stage.

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Pakistani unit of MOL celebrates 25th anniversary

Since entering the market, MOL Pakistan has produced more than 400 million barrels of oil equivalent, making a significant contribution to Pakistan’s energy supply, Hungarian oil and gas company MOL said on Thursday in celebration of its Pakistani unit’s 25th anniversary.

MOL Pakistan celebrates anniversary

MOL said that as a fully-owned subsidiary, the unit is a key player in the company’s international portfolio and is responsible for around 7pc of its total hydrocarbon production.

MOL Pakistan currently has interests in four blocks in the country, of which it is present as an operator in the TAL and Margalla Blocks, and has a non-operated interest in the Karak and DG Khan Blocks.

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Featured image: depositphotos.com

Mercedes-Benz to shut down production for one month in its Hungarian base

Mercedes-Benz will be shutting down production at its base in Kecskemét (C Hungary) for a winter break from December 18 until January 20, 2025, the local unit of the German car maker said on Thursday.

Mercedes-Benz shuts down for a month

Mercedes-Benz Manufacturing Hungary said that during the break the plant is undergoing significant transformation work in preparation for the production of new models based on the MMA and MB.EA platforms.

The company said Mercedes-Benz is continuously optimizing its production network in order to operate at optimal capacity and to respond to fluctuations in demand using the available flexibility.

The Mercedes-Benz Group achieved stable sales in the third quarter despite model changes, a challenging market environment and tough competition, especially in China, it added.

Mercedes-Benz Manufacturing Hungary had EUR 5.1bn revenue last year. Headcount at the unit averaged 4,477 in 2023.

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Featured image: depositphotos.com

Fabulous 101-year-old Hungarian grandma has 3.8 million views on TikTok, even Paris Hilton likes her – VIDEO

In a heartwarming blend of generations, a 101-year-old Hungarian grandma is capturing hearts on TikTok alongside her grandson, Ryan. With her delightful accent and fabulous flair, she showcases her skincare routine and embraces the latest Gen Z trends, proving that age is just a number.

Hungarian grandma slays on TikTok

At 101 years old, this fabulous Hungarian grandma has become a TikTok sensation alongside her grandson, Ryan. Together, they create engaging videos where she shares her skincare routine and indulges in the latest Gen Z trends, showcasing her vibrant personality and charming Hungarian accent. Ryan takes her shopping, capturing their delightful adventures on camera, and she happily embraces the youthful spirit of TikTok culture. Her charisma and style have even caught the attention of celebrities like Paris Hilton, who frequently leaves supportive comments on her videos, celebrating this remarkable grandma’s enduring charm and influence in the digital age.

@ryanthomasroth the hungarian accent is popping #grandmasoftiktok #grandma #hungary ♬ Funny – Gold-Tiger

@ryanthomasroth Replying to @ParisHilton @ParisHilton shes sliving at 101 #grandmasoftiktok #grandma #parishilton ♬ original sound – Ryan Roth

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Orbán cabinet: Budget resources to climb for all important areas in 2025

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Raising support for families and strengthening businesses are the most important goals of next year’s budget, Gergely Gulyás, the head of the Prime Minister’s Office, said at a weekly press briefing on Thursday.

Supporting families, strengthening businesses

Gulyás said the government’s budget bill contained additional resources for all important areas. Lawmakers are set to take the final vote on the bill on Friday, December 20, he added.

Tax allowances for families raising children will double over a year, while the Demján Sándor Programme will make HUF 1,400bn available for scaling up SMEs, he said. The 2025 budget ensures the resources necessary to maintain the system of regulated prices for household utilities, while it will raise the value of pensions, adjusted for inflation, and guarantee the country’s physical security, primarily against illegal migration, he added.

He said HUF 3,750bn was earmarked for family support, HUF 3,717bn for healthcare and HUF 3,876bn for education. The 3.7pc-of-GDP deficit target is realistic, he added, auguring a reduction of the gap to under 3pc in 2026.

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Hungarian government raises age threshold for prenatal baby credit to 35

The government has decided to raise the age threshold for taking out subsidised prenatal baby loans from 30 to 35 years, Gergely Gulyás, the head of the Prime Minister’s Office, said at a weekly press briefing on Thursday.

Raised age threshold for prenatal baby credit

Gulyás said the modification of the age threshold — which applies to the wife of the couple applying for the credit — was made on the recommendation of the Young Families Club (Ficsak) and other family organisations. Borrowers availing of the new threshold have five years to have their first child to maintain eligibility, he added.

Hungarian Govt. launches new support program to help couples conceive - Hungary
Illustration: Pixabay / Bgmfotografia

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One of Hungary’s most wanted criminals captured

Hungarian authorities have successfully apprehended a man from Fejér County, one of the country’s top 50 most wanted criminals, in Romania. The 29-year-old suspect, from Zichyújfalú, was arrested in the town of Odorheiu Secuiesc (Székelyudvarhely), where he had moved to start a new life.

The arrest took place in cooperation with Romanian law enforcement agencies, Index reports. The man had been on the run since spring and was wanted for 29 criminal offences, including robbery, bodily harm, violation of personal freedom, road endangerment, harassment, misuse of unique identifiers, crimes against traffic safety, driving under disqualification, vandalism, and theft.

According to the police, the suspect had been living in Székelyudvarhely, where he had taken up manual labour. Romanian police arrested him on 5 December while he was at his workplace.

The man is now in custody, and Romanian authorities will decide on his extradition to Hungary at a later date, according to a report by Fejér County police.

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Hungarian finance minister: AI opens new era in taxation

Artificial intelligence will usher in a new era in taxation, Finance Minister Mihály Varga said at the Tax Administration European Union Summit (TADEUS) in Budapest on Thursday.

AI opens new era in taxation

Varga told the heads of the tax administrations in the EU that the Hungarian government had established one of the most competitive tax systems in the world over the past decade. The National Tax and Customs Authority (NAV) is at the forefront in terms of digitalisation, he added, pointing to electronic systems for invoicing and monitoring flow of goods, and its preparation of several million tax returns each year.

Since 2010, government measures to crack down on tax evasion have reduced the VAT gap from 22pc close to 4pc, while the tax-to-GDP ratio has fallen from 40pc to 35pc, the third-biggest decline in the EU, Varga said.

He said Hungary was in 7th place in the latest annual ranking by the Tax Foundation of OECD countries’ tax competitiveness.

Varga said the meeting, held in the framework of Hungary’s six-month presidency of the Council of the EU, was a good occasion to summarise results and plans, and exchange information.

Mihály Varga AI opens new era in taxation
Photo: Facebook / Varga Mihály

European Commissioner Wopke Hoekstra welcomed the participants in a video message.

Gerassimos Thomas, the director-general of the European Commission‘s DG for taxation and Customs Union, said the new EC was tasked with boosting the efficiency of taxation and fostering closer cooperation and more exchanges of information between tax authorities.

NAV president Ferenc Vagújhelyi said the two-day forum was an opportunity to share best practices.

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AutoWallis issues EUR 20m bond in private placement

Listed car seller AutoWallis on Wednesday announced the issue of a EUR 20m, ten-year bond in a private placement.

AutoWallis’ expansion

AutoWallis will use the proceeds from the issue to fund its expansion abroad and acquisitions. The car seller said it planned to make 2-3 acquisitions a year in the coming years.

AutoWallis is present in 16 countries in Europe and announced its biggest acquisition yet, of Czechia’s MILAN KRAL, in November. The company plans to plough around HUF 80bn into its business by 2028, boosting annual revenue to HUF 750bn and EBITDA to HUF 40n by 2028, double the levels in 2023.

AutoWallis counts Alpine, BYD, Dacia, Isuzu, Farizon, Jaguar, Land Rover, MG, Saab parts, Renault, SsangYong and Opel among the brands in its wholesale portfolio. Brands in the retail portfolio include BMW cars and motorcycles, BYD, Dacia, Isuzu, Jaguar, KIA, Land Rover, Maserati, MINI, Nissan, Opel, Peugeot, Renault, SsangYong, Suzuki and Toyota. It represents the Sixt rent-a-car brand in Hungary and operates its carsharing and fleet management business under the wigo aegis. AutoWallis also owns the vehicle listing sites JoAutok.hu and AUTO-LICIT.HU.

AutoWallis
Photo: Facebook / AutoWallis

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