trade

Increasing fuel prices in Hungary – When will the trend stop?

It was two and a half months ago that fuel prices last fell in Hungary, since then petrol and diesel have also become significantly more expensive. On November 6, the average price of petrol was HUF 348 (~EUR 0,97), that of diesel was HUF 363 (~EUR 1,02), compared to the current average of HUF 386 (~EUR 1,08) and HUF 401 (~EUR 1,12).

According to 24.hu, after the rise in Brent oil prices earlier this year, the price of oil per barrel hovered around the $55 level this week, and the inauguration of the new US president did not have a significant impact on the price. It might be the result of this that the dollar weakened somewhat in the market, the rate of weakening was 2 percent against the forint: one dollar is currently around 293 forints.

Due to this, experts do not expect a drop in fuel prices, neither do they see a chance of another increase next week.

However, due to changes in other factors, they predict that the retail price of petrol will change. after the finalization of the minimum wage agreement (there is no agreement yet, if an agreement is reached, it will apply to the minimum wage for February at the earliest).

If it rises, petrol stations will probably include the difference in the selling price of petrol and diesel.

Read alsoIs it really true that Hungarian petrol is worse than the Austrian? – here is the answer

January 24, 2021

Jobbik MEP Gyöngyösi on Biden’s presidency: The world expects normalcy

Remarks by Jobbik MEP Márton Gyöngyösi:

Almost exactly a hundred years ago, then presidential candidate Warren G. Harding said in a campaign speech:

“America’s present need is not heroics, but healing; not nostrums, but normalcy; not revolution, but restoration; not agitation, but adjustment.”

Just a few years after World War 1 officially ended but cannons were still being fired in several points of the world, and when humanity was just beginning to recover from the shock and the losses caused by the Spanish flu, President Harding’s position hardly needed any further explanation. Everybody could very well remember how the world had suddenly become a volatile and dangerous place after the “happy times of peace”. This change was an unwelcome one. People were exhausted and longed for stability.

We may be having similar feelings nowadays. We have an eventful (albeit more peaceful and happier than the 1910s) decade behind us: we have seen the rise and then the more and more spectacular failure of political populism as well as a pandemic with its consequent social and economic tensions.

Normalcy and stability have never been more sorely needed than now. The question is: can we get there?

Just a few days after the inauguration of US President Joe Biden, we can hardly know how the future generations will remember his presidency, so we can only hope that we are facing a calmer period than the term of President Donald Trump. All of us, but especially the people of the United States need it more than anything. However, it cannot happen without temperance and self-restraint.

Unfortunately, certain triumphant voices are still looking forward to taking a revenge for their real or imagined grievances and political attacks suffered during the Trump era. I find these voices deeply concerning. Not because I shed a single tear for Trump’s presidency or his methods, but because the past weeks and months have clearly shown where political incitement and revanchism may lead. The “siege” of the Capitol has made us all realize how fragile democracy is and how easily a few remarks or allegations can trigger social disruption and unrest with human casualties.

That’s why I hope the new Biden administration will feel the responsibility bestowed upon them by the trust of the American citizens, and spare no effort to unite the nation. In order for that to happen, you sometimes need to be generous and rise above the grievances or political conflicts. If the new president and his administration keeps its eyes on the past or engages in altercations with the members and the supporters of the previous leadership, the loser will be the entire American nation while the winner will be the very same populism that we would love to finally forget.

In the upcoming period, all eyes will be on America to see how it copes with the legacy of the past years. Besides moderate politicians, populists will also watch intensely because every conflict, every disgruntled or ignored citizen will be yet another political opportunity for them. In our present, pandemic-ridden situation, it is especially important for us to realize that we need to reinforce democracy by involving people as partners in governance.

I am convinced this is the only way to move forward and give our citizens what they so deeply long for after this turbulent period: normalcy.

Read alsoPM Viktor Orbán to have nightmares because of President Biden?

January 23, 2021

Foreign minister sends congratulatory letters to new US State, Commerce, Energy Secretaries

Foreign Minister Péter Szijjártó has sent letters of congratulations to three incoming secretaries of the new US administration of President Joe Biden.

In his letter to Antony Blinken, the new Secretary of State, Szijjártó said the United States is the most important ally and strategic partner of Hungary outside the European Union, adding that Hungarian-US relations have progressed and reached new heights in recent years.

Szijjártó said he is convinced that “the current exceptional relationship provides both countries with the best framework to face the new challenges arising from the pandemic situation, as well as to further strengthen the transatlantic relationship, which is vital to the security of Europe”.

“This year Hungary and the United States will celebrate the 100th anniversary of the establishment of diplomatic relations. On this grandiose occasion, I especially look forward to fostering the bilateral ties between our two countries,” the foreign minister said.

Szijjártó said the Hungarian government is looking forward to cooperation with the United States based on shared values, mutual interests and mutual respect between the two nations and he personally will work towards promoting political, security, economic and cultural cooperation.

In the context of foreign policy, Szijjártó stated Hungary’s continued support to the United States’ and Israel’s efforts towards bringing about sustainable peace in the Middle East and fighting against antisemitism in Europe and elsewhere in the world. He said that as a long-time supporter of the EU accession of the countries in the Western Balkans, the Hungarian government also welcomes efforts by the United States to promote peace and prosperity in the region.

Highlighting the importance of cooperation as allies in NATO, Szijjártó noted Hungary’s participation in several international military missions. He said Hungary had made significant efforts to boost its defence spending over the past few years and will reach the 2 percent target by 2024 at the latest. He further noted that the country has increased the proportion of defence investment well above the 20 percent threshold, adding that several bilateral agreements promote military partnership between the US and Hungary.

As regards economy and trade, Szijjártó said partnership in those areas has progressed significantly in the past years.

He noted that there are 1,700 US companies employing around 106,000 employees in Hungary with bilateral trade growing by an annual 2.3 percent to 5.8 billion dollars in 2019.

He said he will work closely with the new US administration to identify additional areas of economic and business cooperation and expressed hope to meet the new state secretary in person as soon as possible.

In his letter to Gina Raimondo, Secretary of Commerce, Szijjártó said that the Department of Commerce will play an essential role in post-pandemic economic recovery. He said that Hungary highly values the successes the two countries have achieved in bilateral trade in recent years and will continue to look for possibilities of cooperation.

“Maintaining strong ties with our global economic partners such as the United States will always be a priority for Hungary,” he said.

In his letter to Jennifer Mulhern Granholm, Secretary of Energy, Szijjártó said that US-Hungarian cooperation in the field of energy has improved considerably over the past years. He stated the Hungarian government’s commitment towards fighting against climate change, and underlined the importance of renewables and enhanced role of nuclear energy.

“I am convinced that we will find ample common ground to enhance our cooperation in the field of energy, based on mutual respect and cooperation,” Szijjártó said.

Read alsoHungarian opposition: Biden presidency ‘end to populism’

January 21, 2021

Hungary to assist in rebuilding in Azerbaijan

Hungary will assist in rebuilding in Azerbaijan in the aftermath of the Nagorno-Karabakh conflict, Foreign Minister Péter Szijjátto said on Thursday.

Szijjártó said on Facebook that it was a realistic target for Hungary to buy Azeri gas starting from the mid-2020s.

He said he had held a video conference with Sahil Babayev, minister of labour who is the co-head of the Hungarian-Azeri economic mixed committee.

Besides the coronavirus pandemic, the Nagorno-Karabakh conflict was clearly another important event in the international press in recent weeks, he said.

“Hungary has always stood up for Azerbaijan’s territorial integrity, and we support the resolution of conflicts through talks,” he said. He added that his talks with Babayev focused on ways for Hungarian companies to participate in the rebuilding of former war-torn areas.

Exim Bank has opened a 100 million dollar credit line for Hungarian companies that wish to participate, he noted, adding that the Hungarian government has offered a 25,000 euro contribution for clearing landmines in the country.

Hungarian companies have increased their presence in the Azeri market to a large degree in the recent period, with oil and gas company MOL having carried out a record investment, Wizz Air ready to relaunch flights, Hell holding 25 percent of the Azeri market, while beef exports have been relaunched, he said.

Szijjártó said gas supplies were critically important for central Europe. “It is important for us that we are able to buy gas from as many sources as possible,” he added.

A direct gas transport link has been established between Azerbaijan and Europe, and Hungary’s MVM has started preparing contractual ties with the Azeri gas company. It is realistic to expect that Hungary will buy gas from Azerbaijan from the middle of the current decade, he added.

Read alsoNagorno-Karabakh: Why did the war break out? What happens next? – The Azerbaijani Ambassador in Budapest answers – Exclusive interview

January 14, 2021

Budapest Airport cargo ends 2020 with record quarter

In spite of the global challenges caused by the pandemic, cargo traffic at Budapest Airport proved very strong in 2020. The airport handled 134 459 tons of air cargo last year and registered a record quarter at the end of 2020. The BUD Cargo City welcomed more than 6100 cargo flights, and has been operating at full swing since January 2020, as a stronghold in the fight against the coronavirus pandemic. Preparations for the second phase of the cargo handling complex will begin already this year.

Cargo traffic at Budapest Airport proved very strong in 2020, in spite of the difficulties caused by the pandemic. Ferenc Liszt International Airport handled 6118 air cargo flights last year, 17.6% more than in 2019. Cargo volume thus reached 134 459 tons in 2020, registering just a 0.8% decrease from last year. Cargo traffic, anyhow flying high, surged even higher towards the end of the year. The 38 868 tons of air cargo transported in the last quarter of 2020 not only exceeded the volume handled during the same period of the previous year by 4.28%, but is also the strongest quarter ever in the life of BUD cargo.

Budapest Airport and the cargo handling complex operating from January 2020 called the BUD Cargo City functioned as a stronghold in the fight against the global pandemic. Cargo charter flights transporting medical equipment and other healthcare supplies accounted for approximately 6% of last year’s cargo traffic, which meant the handling of around 350 dedicated flights in 2020, supplementing the important role of scheduled air cargo connections. Since the spread of coronavirus pandemic in Europe, the BUD Cargo City was prepared for the arrival of medical supplies, and commenced preparations in good time to provide the conditions necessary for the delivery and storage of the vaccine.

“The fact that cargo traffic at Budapest Airport remained stable during this extraordinary year is attributable to the exemplary perseverance of the cargo community. It is our strong intention to maintain the organizing and supporting role of the airport in this work,” said Dr. Rolf Schnitzler, the CEO of Budapest Airport. He added: “It takes numerous players, precise coordination and a strong base like the BUD Cargo City to handle the cargo traffic of the airport. We remain committed to continuously developing air cargo and the BUD Cargo City; in 2021, we will commence preparations for the second phase, the design and construction of more cargo handling facilities, warehouses and offices.

József Kossuth, cargo manager for Budapest Airport continued: “We have numerous other development projects under way, including, for example, supporting digitization needs required for the work of the cargo community, or the introduction in Hungary of the IATA (International Air Transport Association) CEIV Pharma certification system for the aerial transportation of pharmaceutical products, which is in the implementation phase. We believe that the airport and the BUD Cargo City will serve as a world-class, efficient and sustainable cargo gateway to Central and Eastern Europe, and will continue to support the national economy.”

Due to the coronavirus and its economic impacts, the proportion of exports and imports shifted from the previous 50-50% to 40-60% in the first half of 2020, and then normalized at 45-55% by the end of the year. Traffic has also been transformed; with the sudden loss of long haul, wide body airliners, their lower deck cargo capacity also disappeared. Market demand was therefore primarily satisfied by dedicated cargo flights. In this respect, LOT’s weekly passenger flight to Seoul and the two Emirates flights per week to Dubai brought significant cargo capacities back during the second half of the year.

The traffic of the integrator companies (DHL Express, FedEx (TNT Express), UPS) grew further at the airport in 2020. Budapest Airport celebrated the launch of three new dedicated cargo flights in 2020; Korean Air launched a cargo service to Seoul, Cargolux to Shenzhen and Hainan Airlines to Zhengzhou. Turkish Cargo chose the BUD Cargo City as its Central and Eastern European hub in 2020, and, in parallel, increased the number of its flights to four a week. Qatar Airways Cargo announced at the end of the year that it will operate with a larger aircraft type, the Boeing 777, going forward. Budapest Airport expects the launch of additional new cargo routes in the near future, including already in 2021.

Read alsoBudapest Airport passenger numbers decline 76 pc in 2020

January 14, 2021

The largest intermodal railway terminal in Europe is being built on the New Silk Road in Hungary – VIDEO

The construction of the largest and most modern railway intermodal combi terminal in Europe has begun at the gates of the European Union in Fényeslitke (Hungary), near the Hungarian-Ukrainian border. The East-West Gate (EWG) will be the continent’s first land-based intermodal combi terminal based on green technology using its own 5G network. The theoretical capacity of the terminal is 1 million TEU per year. Built at one of the strategic points in the economic corridor of the Belt and Road Initiative, the EWG can play a key role in delivering goods between Asia and Europe on an alternative route, faster and in larger quantities than before.

On the EU side of the border of the European Union and Ukraine, in Fényeslitke, the construction of the largest and most modern intermodal combi terminal based on track change has started on 125 hectares – the construction of the substructure of the terminal and the normal railway connection are currently in progress.

Equipped with state-of-the-art technology, the EWG intermodal terminal, as the western gateway to the New Silk Road, offers a faster alternative route to Austria, Switzerland, Italy, Slovenia, Croatia and Germany for freight traffic from Asia than the current land and maritime routes.

The EWG, which is being built at the meeting point of the Russian wide-gauge and the European narrow-gauge railways in Hungary, is also a new, high-capacity opportunity for the export traffic to Asia from Western Europe.

In addition, it may also have an important role in the better utilization of the Trans-Siberian Railway Network which has undergone significant improvements in the recent years.

The trial operation of the facility is scheduled to begin in January 2022, while its final handover is scheduled for the first quarter of 2022.

The EUR 61 million investment is financed entirely from private sources. The Hungarian Government has provided EUR 8.2 million to EWG as job creation subsidy.

There will be built 5 wide-gauge and 5 narrow-gauge, 850 m long craneable tracks at the EWG terminal, therefore it will be possible to serve four 740 m long trains at the same time.

EWG is the first land-based intermodal combi terminal on the continent which will use its own 5G network for internal communication and operation of its technology devices.

The facility will be powered by green technology, in line with the EU’s rail and climate strategy. A high-performance solar park as well as a heat pump system will provide power, and only electric terminal tractors and e-cars will be used in the terminal area.

The largest intermodal railway combi terminal of Europe is being built on the New Silk Road — Photo: East-West Gate (EWG)

In addition to its fast and efficient loading technology compared to similar terminals in Poland and Belarus, and its free areas for further development, the EWG will have the significant advantage of handling ATEX- and ADR-certified 45-tonne cranes with dangerous goods and special handling materials – such as gas tank containers and chemicals – can also be transshipped, furthermore the terminal is also suitable for craning conventional public road semi-trailers onto rail wagons. The theoretical capacity of EWG with the forthcoming Hungarian railway line developments (the railway line “V0” bypassing Budapest) will be 1 million TEU per year. At the time of handover, the container and combi capacity will be 300-500 thousand TEU units.

The terminal will provide a full range of logistics services and when the operations starts, it will offer customers 15,000 square meters of leasable warehouse space. On the available unbuilt areas, an additional 500,000 square meters of warehouse, assembly or production plant can be established if required.

Hungary’s first hybrid locomotive to be tested soon

Read alsoBudapest-Vienna railway line to be renovated soon!

January 11, 2021

Hungary posts EUR 811 m trade surplus in November

Hungary posted a trade surplus of 811 million euros in November, a first reading of data released by the Central Statistical Office (KSH) on Monday shows.

Annualised exports rose for the third month in a row, while imports increased for the first time since the start of the pandemic, KSH said.

Exports climbed 6.9 percent to 10.140 billion euros and imports rose by 1.9 percent to 9.329 billion euros.

Trade with other European Union member states accounted for 78 percent of exports and 70 percent of imports.

For the period January-November, exports fell by 5.5 percent to 95.951 billion euros and imports dropped 6.9 percent to 90.581 billion euros. The trade surplus reached 5.370 billion euros.

As we wrote last week, Hungary’s three-month rolling average jobless rate was 4.4 percent in Sept-Nov, rising 0.9 of a percentage point from twelve months earlier, details HERE.

Read alsoHungary wages up 8.8 pc yr/yr in October

January 11, 2021

Budapest listed among the world’s best cities for remote working in 2021!

As the global shift to remote working shows no sign of switching back, workers across the world are leaving behind the traditional office setup to WFH permanently – and for many, that means relocating! In the US, at least, 20% of the current workforce are freelance workers and that number has been predicted to grow to 40% by the mid-2020s. So, where will people want to answer emails from?

Global travel site Big 7 Travel has released the official list of the best cities (and islands!) to work from remotely in 2021.

With more and more yearning for an independent work environment coupled with the freedom to travel, remote working is on its way to the mainstream field. Not to mention, the ongoing pandemic has especially forced many to reconsider where they are basing themselves. Simply put, remote working is the future, and it’s on its way fast.

The core data of affordability and internet access has been gathered from Nomad List with many other variables taken into account, including countries which offer specific Digital Nomad visas, and where to find the coolest co-working spaces and expat friendly communities. Whether you are already living a digital nomad lifestyle, or are aiming for one, this list has you covered.

Big 7 Travel found that the best places to work remotely in 2021 include Tallinn, Estonia; Bali, Indonesia and Buenos Aires, Argentina.

Budapest is listed in the 38th place, coming before cities like Prague and Melbourne.

The site characterizes Budapest as a vibrant, quirky, historically rich melting pot of a capital. “When it comes to thriving cities for remote workers in central Europe, Budapest is a cut above the rest. The internet zooms at 34 MBPS, coworking spaces abound, and the overall cost of living shouldn’t set up back more than $2,000/month. Often referred to as the ‘Paris of the East’ it’s no wonder that Budapest is also a cultural hub just dying to be explored”.

You can check out the full list HERE!

Read alsoBudapest revealed as one of best cities for remote working!

January 7, 2021

Foreign minister: Japanese companies key to Hungary economic growth

Japanese companies play a key role in Hungary’s economic growth, with 19 Japanese companies having invested 21 billion forints (EUR 58.5) and created over 13,000 jobs since the start of the coronavirus pandemic, Foreign Minister Péter Szijjártó said on Thursday.

Szijjártó said on Facebook that he had met Japanese Ambassador Masato Ohtaka for an introductory meeting and thanked his country for giving Hungary the opportunity to buy 2 million favipiravir pills to help the recovery of coronavirus patients.

“Hungary has a vested interest in open and free global trade and we support the signing of an EU-Japan investment protection agreement,” he said.

He added that Hungary “observed with admiration” a free-trade agreement signed by China, Japan and Korea which he said created the largest free trade zone in the world.

Szijjártó said it was an important development that Hungarian pork products could return to Japanese markets after a ban due to African swine fever had been lifted for specific regions.

He also said that Hungary was looking forward to the Tokyo Olympics and noted that agreements had been signed with five Japanese cities to provide opportunities for the preparation of Hungarian athletes.

Read alsoCoronavirus in Hungary: Favipiravir arrives from China, expected from Japan

January 7, 2021

Hungarian fruits to conquer the world

Nomen est omen – the name is destiny, the name is a prediction. Tibor Novák founded and named his company Nobilis based on this Latin proverb in 1992, and he has been loyal to it ever since.

“Choosing a name was rather easy. Nobilis means someone with a good reputation, honest, noble. We lived our last 28 years based on these values” – says the owner whose company has its headquarters in Mátészalka but his products can be found on market shelves all over the world.

Tibor was born in the county of Szabolcs-Szatmár-Bereg and as he said in an interview with portfolio.hu “if you look out the window you see plum, sour cherry, apple and walnut trees. I asked the question, what could you do with all this? How could I supply the world’s most high-standard markets with these fruits?”
So he went on creating a big range of dried fruits and oil-seeds converted into complete desserts.

They utilise the newest and most modern equipment and methods during all phases of production in order to preserve the excellent quality of these delicious fruits before they can be consumed.

Tibor Novák adds that they always chose the most challenging way, the one everyone said was simply impossible. Ever since he started his business, they always took part in big expositions of the food industry to see their competitors and new trends and present themselves and their knowledge. It proved to be a successful effort as

today Nobilis products can be found in many countries from Brazil to Japan, including the United States.

The company is an authentic, family-owned business. They pay special attention to developing children products, so the manager’s own grandchildren also participate in the process. Without exception, every new idea has to be tested and tasted by the little ones whose feedback is taken into consideration and involved in the modification process.

Nobilis - Facebook — *A variety of chocolate-coated almonds – Facebook/NobilisZrt.*

Their most popular dessert – apple circles, covered in dark chocolate – is a creation of the owner’s daughter, Éva Novák, who came up with the idea and perfectioned it. She is in charge of innovation, while her sister, Mariann, works in the marketing and commerce of the company. Even their mother helps out the business.
Employees of their factory in Mátészalka are all considered family members and the owner is very proud that they technically never face any fluctuation in terms of employees. It is a principle for him that it is better to move slowly as a business then leave anyone behind, meaning that when the 2008 economic crisis and now the coronavirus hit the whole world, they always aimed for keeping all job positions.

Based on their motto, they always aim for the efficiency of the work put into production, and the investment put into the process; for the excellent quality of their products that always have to hit all international qualifications; for innovation and harmony. This last part is an essential element of their business as they want all employees to enjoy the work. He believes that

“the mood of our employees is packed into every bag of our products. We seek harmony with society and the environment so that our presence would be constructive in this world”.

Tradition plays a vital role in their lives. For almost 30 years they have been working with the same suppliers. Novák believes that mutual respect is the basis of this profitable partnership.

On the other hand, innovation and development are constant factors always to create something new. They now are in contact with universities and laboratories to work together with professionals on preserving the best and healthiest elements of fruits to provide consumers with the highest quality products.

If you would like to know more about Hungarian family-owned businesses, you should check out this list.

Read alsoThe history of a classic Hungarian cake, the zserbó

December 29, 2020

Hungary holiday spending could reach 2019 levels

With the government having suspended the night curfew for Christmas Eve, Hungarians have “stormed shops” and could end up spending as much during the holidays as last year, the daily Magyar Nemzet said on Wednesday.

Holiday shopping in Hungary typically picks up in the days leading up to Dec. 24, György Vámos, the chief secretary of national retailers association OKSZ, told the paper.

However, the government’s decision to soften restrictions for Christmas Eve, when Hungarians traditionally open their gifts, has now also encouraged spending, he said.

Vámos said it was possible that holiday spending in Hungary could even reach 2019 levels.

Though Hungarians appeared to be cutting back on their holiday spending in the period leading up to Christmas, retail trade was gaining momentum, Vámos said.

Shops in Hungary close at 7pm on Dec. 23 and at 2pm on Dec. 24 before reopening on Dec. 27, he noted.

How to have a Hungarian Christmas feast?

Read alsoSeveral churches cancel midnight mass, Christmas worship service in Hungary

December 23, 2020

LEVC appoints first dealer in Hungary – PHOTOS

Gablini Automotive Group serves Budapest as LEVC expands into new market. Dealer site will provide full sales and after sales support for LEVC’s TX taxi, TX Shuttle, and new VN5 van. LEVC’s EU-wide network will cover 21 markets by the end of 2020

LEVC (London Electric Vehicle Company) today announces its entrance into the Hungarian market with the appointment of its first dealer, Gablini Automotive Group. Located in the capital city of Budapest, the dealer group will provide full sales and after sales support for LEVC’s TX taxi and TX Shuttle and, from Spring 2021, the brand’s new electric van, VN5.

Joerg Hofmann, LEVC CEO, commented:

“Hungary has a clear e-mobility vision, with a number of incentives schemes in place to encourage operators to make the switch to zero emissions vehicles. In partnership with the Gablini Automotive Group, I look forward to establishing our brand and products in this progressive market.”

LEVC’s unique eCity technology offers numerous benefits for electric vehicle drivers in Hungary. The ‘green license plate’ in the country allows owners of EVs to save money with car tax exemption or rebates, reduction of VAT, personal income tax relief as well as subsidised loans. Electric vehicles can park for free in the Budapest region, and in other major cities.

Gábor Gablini, owner of Gablini Automotive Group, said:

“Gablini Automotive Group is excited to represent LEVC in Hungary. LEVC is known for its premium quality electric vehicles, while innovation and caring for a sustainable future is one of the cornerstones of Gablini Automotive Group. We are the first company in Hungary to start selling modern electric vehicles. We think that there is a demand for range extender LCV and taxi vehicles in Hungary, where the premium quality of the interior is a decisive factor. That is why we think that LEVC’s new, innovative products fit perfectly into our portfolio.”

LEVC, based in Coventry, UK has been manufacturing the official London black cab for more than 100 years and reinvented the iconic taxi as an electric zero emissions capable TX in 2018.Since launch, more than 4,500 units have sold worldwide, and its green credentials have prevented more than 36,000 tonnes of CO2 from entering the atmosphere and saved 21 million litres of fuel from use.

TX shuttle shares the same DNA as the TX electric taxi and is powered by the same eCity technology, a zero emissions capable taxi with a flexible range of over 316 miles (510 km) and a pure EV range of 63 miles (101 km). All TX Shuttles are purpose-built to keep all occupants safe and protected. Features include up to six passenger seats, wheelchair accessibility, a secure partition screen that separates the driver and passenger compartment, contactless payment in the rear, easy to clean surfaces and an intercom system that allows driver and passenger to always communicate clearly.

LEVC’s new electric van, VN5, is already on sale in the UK and will be launched in Europe from Spring 2021.

Operating in the one-tonne sector, VN5 shares the same bold, distinctive design and lightweight aluminium construction as TX, as well as its innovative eCity electric technology. VN5 can achieve a pure EV range of over 60 miles (98 km) and a total flexible range of over 300 miles (489 km) and, with up to 5.5m capacity, VN5 cargo capacity easily accommodates two Euro sized pallets with a gross payload of 830kg.

LEVC’s global network will cover 21 markets by the end of 2021 and across Continental Europe, more than 30 sales and service partners will be in place by the end of this year.

Mercedes invests EUR 141m to make fully-EV cars in Hungary

Read alsoEurope’s largest rooftop solar park inaugurated at Audi Hungaria’s logistics center in Győr

December 21, 2020

Hungary-Canada ties getting stronger, says foreign minister

Hungary and Canada have further strengthened their ties this year, particularly through continuing investments by Canadian businesses, Péter Szijjártó, the minister of foreign affairs and trade, said on Friday.

Szijjártó said on Facebook that he spoke by phone with François-Philippe Champagne, his Canadian counterpart, to review bilateral relations in absence of the possibility of an in-person meeting.

He said the fact that Canadian businesses today employ 6,000 people in Hungary was proof that bilateral relations were getting stronger.

“We have purchased our airborne reconnaissance radars from a Canadian firm and will open Hungary’s next consulate general in Montreal next year,” the minister said.

He noted excellent cooperation within the United Nations which is well illustrated by the fact that Montreal and Budapest are both aspirant cities for a new location for UN central functions.

In addition, Hungary has earmarked 30 million forints (EUR 84,400) for erecting a monument in honour of the victims of communism in Ottawa, Szijjártó said.

Read alsoA contemporary history of cordial relations between Canada and Hungary

December 19, 2020

Government’s dangerous plan against international food chains

It could have severe consequences if the government decided to strengthen the country’s network of food stores according to János Lázár’s plans. Consumers, producers and processors of the agricultural sector can get harmed.

The retail trade of grocery items has to be dominated by Hungarian businesses, and the power of foreign chains needs to be broken – said Lázár on an agricultural conference organised by Portfolio. The government commissioner imagines doing this by creating a new business group or by giving extra capital to already existing ones. According to him, chains of foreign retail trade need to be pushed out of the country in favour of independency, national autonomy and the reorganization of agriculture. He plans to do that by, among other means, taking advantage of additional taxes and levies. During the first wave of the coronavirus, the government already took some steps. It charged additional taxes to boost its plan protecting the economy of the country.

After the law entered into force in May, according to calculations of 24.hu, considering one year, Tesco could pay around 13 billion forints; Spar could pay 11 billion and Lidl 9 billion, increasing the pre-calculated revenues from 36 to 47 billion forints coming from the ten biggest food chains.

Nepszava.hu writes that it is a big question whether there is or there will be a big Hungarian company or group of enterprises to take over the market share of these multinationals producing almost 2000 billion forints of commerce a year. It will only be possible if they can weaken these large chains and make them sell their Hungarian stores. Still, it can only be done by governmental help and regulations such as the additional taxes and the closing of grocery stores on Sundays. Experts, however, say that there are few chances for this to happen as all previous attempts to do so had failed, since these international chains think in regions and not in countries. Economist Dávid Ferenc says that there is only one chain in Hungary whose commerce could possibly compete with these big networks. Still, it is questionable if this company has sufficient resources to make a transaction of this size.

Defining the market value of dozens of hypermarkets is tricky since it is complicated to find a new use for their establishments of several thousands of square metres. Furthermore, maintaining them is costly, and there is probably no Hungarian business that can make use of several of these properties. Since the number of those interested in purchasing these establishments is limited, the buyer would be in a favourable position. This fact also talks against foreign businesses leaving the country as they are not very keen on getting rid of their properties with a deficit. This will be less important since online commerce is developing unstoppably and fits easier into the lifestyle of cities with its smaller shops of 500-1000m². These properties can have several functions. Their value is higher if they are situated in a popular or useful area. Moreover, big properties that also have a green space can attract a large scale of buyers, increasing the power of the seller.

All these, however, are simple speculations until we know the details and the intentions of these multinational companies who have invested hundreds of billions of firings in the past decades to build up and develop their shops, technologies and logistics. It is safe to say that they will not give it over to anyone for free.

It would cost taxpayers a lot to nationalise these foreign chains.

The consequence of carrying out this plan would mean the abolition of competition that would result in an increase of prices, especially because Hungarian chains have a lower level of efficiency, logistical system, technology and a smaller circle of suppliers that results in higher product prices. Also, some Hungarian producers are not able to present the same quality or quantity of products than their foreign competitors.

If multinational chains had to leave the country, they would not only take their know-how, but their international circle of suppliers as well, and it is not sure if they would continue buying Hungarian products as they do now. Currently, the proportion of Hungarian products at these companies is around 70-80%, from which they ship to their network outside of the country as well. Moreover, they could take hundreds of thousands of employees with them to other countries where they would earn wages much higher than in Hungary.

Dávid says that Lázár’s plan is a terrible message to all investors and can make all the 80 strategic partners of the government question their policies.

Multinational companies influenced by the plan are awaiting details to comment on the issue.

Read alsoHungary debt management stable, says finance minister

December 17, 2020

Croatia, Italy to declare exclusive economic zone in Adriatic

The Croatian government on Monday adopted a draft decision to declare an Exclusive Economic Zone (EEZ) in the Adriatic Sea.

Foreign Minister Gordan Grlic-Radman explained at the government session that Croatia had reached an understanding with Italy and Slovenia, two other European Union (EU) member states with coasts on the Adriatic. He noted that Croatia and Italy will formally declare an EEZ in January 2021, after a trilateral meeting with Slovenia.

In November, the foreign ministers of Croatia and Italy met in Zagreb and agreed on declaring an EEZ in the Adriatic together. The EEZ will remain part of the EU’s common waters and the Common Fisheries Policy (CFP) which will continue to set rules for the European fishing fleets.

The Croatian parliament is expected to confirm the government decision this week at an extraordinary session.

As prescribed by the 1982 United Nations Convention on the Law of the Sea, an EEZ is an area of the sea where a state has special rights regarding the exploration and use of marine resources, including energy production from water and wind.

Back in 2003, Croatia declared an ecological and fisheries protection zone, which is similar to an EEZ.

Prime Minister Andrej Plenkovic has recently stressed that the EEZ brings two new elements: the possibility of building artificial islands and exploiting wind and sea power.

The minister of agriculture Marija Vuckovic said on Monday that the EEZ would improve Croatia’s already excellent cooperation with Italy on the issues of fishing fleets and resources management.

Croatia LNG terminal launch key step forward in Hungary gas supply, says Hungarian foreign minister

Read alsoLatest coronavirus numbers in Hungary’s neighbours – Dec. 14

December 14, 2020

Apollo Tyres to invest EUR 12.4m at Hungary plant

India's Apollo Tyres is investing 4.4 billion forints (EUR 12.4m) at its plant in Gyongyoshalasz, in northern Hungary

India’s Apollo Tyres is investing 4.4 billion forints (EUR 12.4m) at its plant in Gyöngyöshalász, in northern Hungary, Péter Szijjártó, the foreign affairs and trade minister, said on Monday.

The tyre maker is upgrading its production lines and expanding its product range, Szijjártó said. The Hungarian government is supporting the investment with a 1.4 billion forint non-refundable grant, he said, adding that the project will help keep 1,000 people employed.

Szijjártó said

the Indian company was a key player in the “success story” that was the government’s policy of opening up to the East.

Hungary’s trade turnover with the East has increased by 25 percent since it introduced the policy ten years ago, and

last year, for the first time, Hungary received more investments from the East than from the West, the minister said.

Some 60 percent of Hungary’s foreign investments last year were made by Eastern companies, accounting for 40 percent of the new jobs created, he said.

‘India-Hungary Dialogues’ video series launched

Read alsoApollo Tyres to invest EUR 12.4m at Hungary plant

December 14, 2020

Mercedes invests EUR 141m to make fully-EV cars in Hungary

Christian Wolff, CEO of Mercedes-Benz Manufacturing Hungary

German car maker Mercedes-Benz will invest 50 billion forints (EUR 141m) at its plant in Kecskemét, in central Hungary, to add fully electric vehicles to the production palette, Péter Szijjártó, the minister of foreign affairs and trade, said on Monday.

The government is supporting the investment, which will “cement the future of more than 4,400 jobs”, with a 15 billion forint grant, Szijjártó told an online press conference at the plant.

The minister called the investment “a milestone” for the Kecskemét plant, as well as for the Hungarian economy and car industry.

“One of the world’s largest car makers with cutting-edge technologies has decided to bring such a significant high-tech investment to Hungary at a time when the global car industry is not exatly about new investments,” Szijjártó said.

This new project has further strengthened Hungarian-German economic cooperation, he added.

Christian Wolff, CEO of Mercedes-Benz Manufacturing Hungary, said that

the production of Mercedes’s EQB brand fully electric vehicles could start in Kecskemét from Q4 in 2021.

The model will have its world premiere next spring, he added.

A new pressing plant, announced in March 2020, will start operation in 2022.

The plant in Kecskemét turned out about 190,000 compact vehicles last year.

As we wrote on July, important announcements were made at the Mercedes-Benz plant in Kecskemét: after the global pandemic, production will resume to normal in August, and for the first time in Hungary, Mercedes has started the production of plug-in hybrid cars. Details HERE.

Read alsoEurope’s largest rooftop solar park inaugurated at Audi Hungaria’s logistics center in Győr

December 14, 2020

Budapest Airport delivers record cargo traffic in November

In spite of the global challenges experienced in 2020, cargo traffic at Ferenc Liszt International Airport is seamless. What is more, the volume of goods handled last month was the highest on record in the history of the airport. Cargo traffic in November exceeded the quantity recorded in the same month last year by 6.3% and Budapest Airport’s total cargo volume during the year surpassed 120 000 tons.

Budapest Airport handled 13 864 tons of air cargo this November, which is 6.3% more than a year ago and the strongest monthly cargo performance on record. Meanwhile, the volume of goods received and launched from January to November 2020 has exceeded 120 000 tons. With year’s end approaching, we can state with certainty that cargo traffic at the Hungarian capital airport and the BUD Cargo City opened a year ago have proven immune to the pandemic. Dr. Rolf Schnitzler, the CEO of Budapest Airport highlighted that this is attributable not just to pandemic-related shipments, changed purchasing habits and the entire cargo community, but in particular to the 50 million EUR fully private investment undertaken by Budapest Airport into the world-class facilities of the BUD Cargo City, which attracts more and more cargo business.

“Seamless cargo traffic at the airport requires many players and precise coordination. Close cooperation between shippers, forwarders, airlines, ground handlers, authorities and all colleagues working at the airport is indispensable in this process,” emphasized József Kossuth, cargo manager for Budapest Airport.

“This year was extraordinary and full of challenges for everyone. The fact that cargo traffic at Budapest Airport has remained stable in this changed environment and even showed a significant increase in November is the result of our joint work and the exemplary perseverance of the cargo community. On behalf of BUD’s cargo team, I would like to thank everyone who supported air cargo in Hungary with their work,” he added.

The record traffic in November is attributable to several market factors. The year-end peak period usually starts in October in air cargo, and intensifies from November. The record cargo volume registered last month was partly ascribable to the Black Friday sales campaign, but this year has strengthened air cargo generally, irrespective of special promotions. Due to the restrictions introduced on account of the coronavirus pandemic, more companies are using air freight than ever and more people are choosing online shopping and delivery to their homes or to parcel lockers. In case of orders from other countries, most goods reach customers via the BUD Cargo City and the Hungarian Post Exchange Center located at the airport, or through international integrator companies, such as DHL Express, FedEx (TNT) and UPS.

The BUD Cargo City played a key role in the fight against the coronavirus pandemic in 2020. Throughout the year, Budapest Airport welcomed many flights transporting medical equipment, helping the work of the Hungarian government together with players from the logistics sector, and ensuring that vital healthcare material, such as personal protective equipment, ventilators, other medical devices and base materials, should get to where they are needed, as quickly as possible. After the first wave of the coronavirus pandemic, preparations commenced at the BUD Cargo City to provide the conditions necessary for the transportation and storage of the vaccine.

Budapest Airport welcomed three dedicated cargo flights in 2020; Korean Air launched a flight between Seoul and Budapest, Cargolux from Shenzen to Budapest and an aerial connection is once again available between Zhengzhou and Budapest.

Read alsoBuying the Budapest Airport would be like buying a mountain of debt

December 11, 2020