• Hungarian forint
  • Budapest
  • Police news
  • HelloMagyar
The past week in Hungarian economic terms: motorway concessions, gas cap, FoodpandaThe past week in Hungarian economic terms: motorway concessions, gas cap, FoodpandaThe past week in Hungarian economic terms: motorway concessions, gas cap, FoodpandaThe past week in Hungarian economic terms: motorway concessions, gas cap, Foodpanda
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • News To Go
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Important
  • Ryanair summer schedule out: flights to 51 cities from Budapest, great prices

  • Budapest traffic paralysed by snowfall, public transport interrupted

Support us
Daily News Daily News · 29/08/2022
· Business

The past week in Hungarian economic terms: motorway concessions, gas cap, Foodpanda

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

CONCESSION WINNERS TO TAKE OVER OPERATION OF 1,237 KM OF MOTORWAY

The operation of 1,237 km of dual carriageways in Hungary will be transferred to five companies as the result of a concession procedure called earlier by the government, state roads company Magyar Közút Nonprofit said. MKIF Magyar Koncessziós Infrastruktúra Fejlesztő, AKA Alföldi Koncessziós Autópálya, M6 Duna Autópálya Koncessziós, M6 Tolna Autópálya Koncesszios and MAK Mecsek Autópálya Koncessziós will take over the operation of the motorways from September.

GOVT RAISES HEAT VALUE THRESHOLD FOR AVG GAS CONSUMPTION

Hungary’s government decided to raise the heat value threshold for regulated price gas consumption to 63,645 MJ/year, Gergely Gulyas, the head of the Prime Minister’s Office, said at a weekly press briefing. The threshold was raised from 59,132 MJ/year. Mr Gulyas said the adjustment reflects the varying heat values of gas used by Hungarian households, depending on whether it comes from Russia or sources in the West or is domestically produced.

RÁBA BOOKS H1 LOSS AS MARGINS NARROW, FINANCIAL LOSS WEIGHS

Hungarian automotive industry company Rába booked a first-half loss of 252 million forints as inflation squeezed margins and financial losses weighed, an earnings report showed. Revenue rose by 27 percent to 30.0 billion forints, but direct costs of sales climbed 31 percent to 24.7 billion forints. Other operating costs jumped 52 percent to 4.6 billion forints. A financial loss of over 0.9 billion forints bit into the bottom line.

supermarket store food inflation
Read alsoWhere is shopping cheaper: in England or in Hungary?

Rába said wartime inflation lifted all cost elements and exerted “record pressure” on the efficiency of operations.

CONTINENTAL DOHÁNYIPARI TO INAUGURATE HUF 10 BN EXPANSION IN DECEMBER

Hungarian-owned tobacco company Continental Dohányipari said it will complete a 10 billion forints upgrade and expansion at its base in Satoraljaujhely, in north-eastern Hungary, in December. Continental Dohányipari will start installing new production equipment and upgrading old equipment in a new 5,4000 sqm plant in September. When completed, the investment will boost capacity by around 25 percent.

CIG PANNONIA PREMIUMS REVENUE CLIMBS 37 PC IN H1

First-half gross written premiums of listed insurer CIG Pannonia rose by 37 percent year-on-year to 15.0 billion forints, an earnings report showed. CIG Pannonia said premiums growth of comprehensive vehicle insurance for corporate fleets was over 1 billion forints, while revenue from premiums for unit-linked policies increased more than 1.1 billion forints and climbed close to 1.2 billion forints for industrial property policies. Growth was supported by the relaunch of CIG Pannonia’s general insurance business EMABIT.

FOODPANDA TO RAISE COURIER PAY AS TAX CHANGE COMES INTO FORCE

Food delivery company Foodpanda said it will raise couriers’ remuneration by 18 percent on average. Foodpanda said it gave couriers’ pay “a rethink” after amendments to legislation on the Itemised Tax for Small Businesses (KATA). Lawmakers voted earlier in the summer to restrict KATA to sole proprietors.

fuel Hungary foreigners price cap
Read alsoFuel prices to increase significantly again in Hungary from today
If you would like to support the work of the Daily News Hungary staff and independent journalism,
please make a donation here
development economy Hungarian economy Hungary
Share

Hot news

  • What happened today in Hungary? — 30 November, 2023

  • Minister: AI can be breakout point for Hungarian economy

  • Transport megaprojects to start in Budapest next year

  • Hungarian FM wants to preserve stable and fair cooperation with Russia

  • Leading foreign newspapers rave about Budapest Christmas markets

  • Meteorological service issues freezing rain alert for Budapest and northern regions

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US
  • Facebook
  • Twitter
  • Instagram

Must read

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.

Thank you!

You have successfully joined our subscriber list.

.

Contact us

About us

Copyright rules

Privacy policy

Advertise with us

© 2023 DailyNewsHungary. All rights reserved! | Server and development by Svigelj Levente E.V
What happened today in Hungary? — 30 November, 2023

What happened today in Hungary? — 30 November, 2023

Read More
Minister: AI can be breakout point for Hungarian economy

Minister: AI can be breakout point for Hungarian economy

Read More
Transport megaprojects to start in Budapest next year

Transport megaprojects to start in Budapest next year

Read More
Hungarian FM wants to preserve stable and fair cooperation with Russia

Hungarian FM wants to preserve stable and fair cooperation with Russia

Read More
Leading foreign newspapers rave about Budapest Christmas markets

Leading foreign newspapers rave about Budapest Christmas markets

Read More
Meteorological service issues freezing rain alert for Budapest and northern regions

Meteorological service issues freezing rain alert for Budapest and northern regions

Read More
Minister: Hungary does not support EU budget amedment, Ukraine accession

Minister: Hungary does not support EU budget amedment, Ukraine accession

Read More
Luxor, Egypt and Hungarian town sign twinning agreement

Luxor, Egypt and Hungarian town sign twinning agreement

Read More
Ryanair summer schedule out: flights to 51 cities from Budapest, great prices

Ryanair summer schedule out: flights to 51 cities from Budapest, great prices

Read More
FM Szijjártó: Hungary’s interest lies in civilised cooperation

FM Szijjártó: Hungary’s interest lies in civilised cooperation

Read More
  • 0
  • 1
  • 2
  • 3
  • 4
Have you read it?