Tag: budapest

  • SPAR Hungary offers ten products made from recycled materials

    SPAR Hungary offers ten products made from recycled materials

    SPAR Hungary products made from recycled materials include seven Re-Generation bags made from recycled PET bottles as well as fully recyclable food containers.

    The bags’ outer fabric, lining, shoulder straps, and handles are produced using 100% recycled PET bottles.

    The bags carry a clear indication showing how many PET bottles were used to produce each item. For example, the backpack is made from the recycled material from 20 bottles.

    The organic reusable food containers from the brand Koziol include a two-piece food box set, a two-piece lunch box set and a flask with a projected lifespan of over ten years.

    A total of 90% less energy is used during the production of these containers compared to that used when producing their equivalents using glass, ceramic, and aluminium.

    As part of a popular loyalty programme SPAR Hungary is running until 27 September, the items in the range can either be purchased at full price or at 66-70% of the original price when using loyalty points.

    Customers earn a loyalty point for every HUF1,000 spent. With 20 stickers, it is possible to buy one of the ten products at the indicated reduced price.

  • First eMAG showroom outside Romania, in Budapest

    First eMAG showroom outside Romania, in Budapest

    • eMAG opened the first showroom outside Romania, in Hungary.
    • eMAG Hungary targets sales of € 300 million by the end of 2020 and sales of € 1 billion over five years.

    Located in the center of Budapest, the showroom offers customers access to the latest products in the electro-IT field such as mobile phones, tablets, TVs, small appliances, but also personal care products, toys and accessories.

    Moreover, customers will be able to pick up orders placed online from the showroom.

    To diversify personal pick-up options, the company will install 100 easyboxes by next Black Friday, of which 50 will be operational by September.

    eMAG Hungarian team currently has 500 employees, and by the end of the year it will reach 550.

  • Which are the best CEE universities in QS World University Ranking

    Which are the best CEE universities in QS World University Ranking

    Politecnico di Milano, ranking 137, with 37.226 students registered is the first university in CEE, followed by University of Vienna, 45.623 students, ranked 150, latest QS World University Ranking shows.

    The latest QS World University Ranking includes around 1,000 universities.

    Massachusetts Institute of Technology (MIT) is the first ranked university in the world and University of Oxford is the first European university (ranked 5 in the world).

    Other 36 universities from Italy in top 1000

    Top 500 include the following universities from Italy, Alma Mater Studiorum – University of Bologna (160), Sapienza University of Rome (171), Università di Padova (216), University of Milan (301), Politecnico di Torino (308), University of Pisa (383), University of Naples – Federico II (392), Università Vita-Salute San Raffaele Milano (392), University of Trento (403), University of Florence (432), Università Cattolica del Sacro Cuore Milano, University of Rome “Tor Vergata” (511-520), University of Turin, University of Milano-Bicocca (521-530).

    Other Italian institutions in top 1000 are Free University Bozen, Bolzano, Università degli Studi di Pavia (601-650), University of Genoa, University of Siena (651-700), University of Trieste (701-750), Politecnico di Bari, Ca’ Foscari University of Venice, University of Modena and Reggio Emilia, Università degli Studi di Perugia, University of Brescia (751-800), Catania University, Universita’ degli Studi di Ferrara, University of Salerno, Università degli Studi di Udine, Università degli studi Roma Tre, University of Calabria, Universita’ Politecnica delle Marche, Ancona, University of Palermo, University of Bari, University of Parma, Verona University (801-1000).

    7 other Austrian universities in the top

    Austria has other universities in top: Vienna University of Technology (191), Universität Innsbruck (265), Graz University of Technology (275), Johannes Kepler University Linz (362), University of Klagenfurt (511-520), Karl-Franzens-Universitaet Graz (581-590), Paris Lodron University of Salzburg (751-800).

    Czechia has 8 universities in Top 1000

    Charles University Prague, 48,623 students, ranked 260, is the first Czech university in QS World University Ranking, followed by University of Chemistry and Technology, Prague (342), Masaryk University Brno (531-540), Brno University of Technology, Mendel University in Brno (701-750), Technical University of Liberec (751-800), Czech University of Life Sciences in Prague, University of Pardubice (801-1000).

    First university in the Baltic States is ranked no 285

    University of Tartu (Estonia), ranked 285, is the best university in the
    Baltic States, followed by Vilnius University (Lithuania), ranked 423 and Riga
    Technical University (Latvia), ranked 701-750.

    Other two Estonian universities are in Top 1000, Tallinn University of
    Technology (TalTech) is ranked 651-700 and Tallinn University is no 801-1000.

    Lithuania has three more universities in Top 1000, Vilnius Gediminas
    Technical University (651-700), Kaunas University of Technology and Vytautas
    Magnus University, Kaunas (801-1000).

    Other two universities in Latvia are present in QS World University Ranking,
    Riga Stradins University and University of Latvia, Riga (801-1000).

    Poland has 15 universities in the first 1000

    According to the latest QS World University Ranking, University of Warsaw (321) is the first Polish institution ranked.

    Other Polish universities included in the ranking are Jagiellonian University (326), Warsaw University of Technology (511-520), Adam Mickiewicz University, Poznań, AGH University of Science and Technology, Krakow, Cracow University of Technology (Politechnika Krakowska), Gdansk University of Technology, Lodz University of Technology, Nicolaus Copernicus University, Poznań University of Technology, Silesian University of Technology, Gliwice, University of Gdansk, University of Lodz, University of Wroclaw, Wroclaw University of Science and Technology (WRUST) (801-1000).

    First Greek university is ranked no 477

    National Technical University of Athens, ranked 477, is the first Greece university in QS World University Ranking, followed by Aristotle University of Thessaloniki (571-580), National and Kapodistrian University of Athens (651-700), Athens University of Economics and Business, University of Crete (801-1000).

    University of Szeged, the first in Hungary

    First Hungarian institution in the QS World University Ranking is University of Szeged (ranked 501-510), followed by University of Debrecen (521-530), Eötvös Loránd University (601-650), University of Pecs (651-700), Budapest University of Technology and Economics, Corvinus University of Budapest, Szent Istvan University, University of Miskolc, (801-1000).

    Bulgarian and Slovenian universities, at the same level

    Sofia University “St. Kliment Ohridski”, home for 19.086 students, is the only Bulgarian University in the top, ranking 601-650.

    First ranked Slovenian University is University of Ljubljana (601-650), followed by University of Maribor (801-1000).

    Slovakia has 4 universities in QS World University Ranking

    Pavol Jozef Šafárik University in Košice is the first university from Slovakia in the QS World University Ranking and is ranked 651-700, followed by Comenius University in Bratislava (701-750), Slovak University of Technology in Bratislava, Technical University of Kosice, (801-1000).

    Romania and Croatia are at the bottom

    Romania and Croatia are the worst ranked countries from CEE region with Babes-Bolyai University Cluj-Napoca and University of Bucharest (Romania) and University of Rijeka or University of Zagreb ranking 801-1000.

  • Industrial production decreased by 36.8% in Hungary

    Industrial production decreased by 36.8% in Hungary

    In April 2020 the volume of industrial production declined by 36.8% year-on-year in Hungary, as KSH data shows.

    Based on working-day adjusted data, production fell by 36.6%.

    The economic effects caused by the coronavirus epidemic were significant in this period.

    The manufacture of transport equipment fell outstandingly, to one-fifth, due to the temporary total or partial production stoppage.

    The manufacture of food products, beverages and tobacco products declined to a lesser degree, while the manufacture basic pharmaceutical products and pharmaceutical preparations grew almost by one-fifth.

    The volume of industrial export dropped by 43% year-on-year. Transport equipment export, representing a 15% weight within export sales in manufacturing fell outstandingly, by 77%, while the export in manufacture of computer, electronic and optical products accounting for a 19% weight declined by 23%.

    Industrial domestic sales decreased by 18.6%, within it domestic sales in manufacturing were 25% lower compared to the same month of the previous year.

  • World Bank sees the deepest recession since the Second World War

    World Bank sees the deepest recession since the Second World War

    According to World Bank forecasts, the global economy will shrink by 5.2% this year. 

    That would represent the deepest recession since the Second World War, with the largest fraction of economies experiencing declines in per capita output since 1870, the World Bank says in its June 2020 Global Economic Prospects.

    Economic activity among advanced economies is anticipated to shrink 7% in 2020 as domestic demand and supply, trade, and finance have been severely disrupted.

    Emerging market and developing economies (EMDEs) are expected to shrink by 2.5% this year, their first contraction as a group in at least sixty years.

    Per capita incomes are expected to decline by 3.6%, which will tip millions of people into extreme poverty this year.

    In CEE, Serbia has the slowest GDP decline this year and Croatia the biggest growth in 2021

    For the Bulgarian economy, the forecast is a decline of 6.2% for 2020 and a recovery next year to a growth of 4.3%. 

    Croatia will suffer a GDP decline of -9.3% in 2020 and a recovery of 5.4% in 2021.

    Hungarian economy will have a decline of -5.0% this year and a rise of 4.5% next year.

    Poland is in a better situation with an economic decline of -4.2% in 2020, but a slower recovery, of just 2.8% in 2021.

    For Romania, GDP will decrease by -5.7% this year and a rise of 5.4% in 2021.

    Serbian GDP will decline by -2.5% in 2020 and a recovery of 4.0% in 2021.

  • Hungary: Prices increased by 2.2% in May

    Hungary: Prices increased by 2.2% in May

    • Consumer prices were 2.2% higher on average in May 2020 than a year earlier, KSH data show.
    • Significant price increases were measured over the past year for food as well as alcoholic beverages and tobacco.

    Compared to May 2019, food prices went up by 8.4%, within which the price of other meat preparations became 22.0%, pork prices 20.7%, the price of seasonal food items (potatoes, fresh vegetables and fruits) 19.1%, that of sugar 15.0% and salami, sausages and ham prices 12.6% higher.

    The price of alcoholic beverages and tobacco rose by 6.7% on average, within which tobacco prices by 11.1%.

    Consumers paid 2.6% more for services, within which the price of repairs and maintenance of dwellings increased by 11.7% and the price of repairs and maintenance of vehicles by 9.3%. Motor fuel prices were cut by 22.0%.

  • The number of nights spent by international tourists fell by 99% in Hungary

    The number of nights spent by international tourists fell by 99% in Hungary

    As a result of the coronavirus epidemic, in April 2020 the number of nights spent by international tourists fell by 99% and that of nights spent by domestic tourists by 95% compared to the same period of the previous year in commercial accommodation establishments (hotels, boarding houses, camping sites, bungalow complexes and community hostels).

    Total gross sales revenues declined by 97% at current prices in commercial accommodation establishments, latest data gathered by Hungarian Central Statistical Office shows.

    In April 2020, compared to the same month of the previous year both the number of foreign guests and tourism nights fell by 99%, with 3 thousand guests spending 17 thousand tourism nights in accommodation establishments.

    Guest turnover was negligible for all accommodation types and regions, with the number of tourism nights not reaching 1% of the April value of the previous year in Budapest and the Balaton region.

    18 thousand domestic guests (96% decrease) spent 52 thousand tourism nights (95% decrease), with boarding houses accounting for nearly half of all tourism nights, showing a below average 81% decline.

  • Sales of retail shops decreased by 10.2% in Hungary

    Sales of retail shops decreased by 10.2% in Hungary

    In April 2020, the volume of sales in retail shops, according to both raw and calendar-adjusted data, decreased by 10.2% compared to the same period last year, KSH data shows.

    The volume of sales decreased by 0.4% in specialized and non-specialized food shops, by 14.8% in non-food retail shops and by 26.3% in automotive fuel retailing.

    In January–April 2020, the volume of sales – also according to calendar adjusted data – was 2.5% higher than in the corresponding period of the previous year.

    Declining retail sales in April 2020 were entirely driven by the impact of the coronavirus epidemic, with epidemic emergency explaining 17 percentage points from the calendar adjusted, year-on-year volume change.

    The volume index for non-food retail shops was 26% lower, while automotive fuel retailing was 30 percentage points lower than previously estimated. Food store sales were only slightly affected by the impact of coronavirus.

  • Hungarian GDP rises by 2.2% in the 1st quarter of 2020

    Hungarian GDP rises by 2.2% in the 1st quarter of 2020

    Gross Domestic Product was 2.2% higher in Hungary in the 1st quarter of 2020 than in the corresponding period of the previous year, KSH latest data shows.

    The corona virus pandemic had a negative impact on the performance of most sections, but market services and, to a lesser extent, industry continued to be the driving forces for growth in the 1st quarter as a whole.

    According to seasonally and calendar adjusted and reconciled data the performance of the economy was up by 2.0% compared to the corresponding quarter of the previous year and decreased by 0.4% compared to the previous quarter.

    Industry went up by 1.7%

    The performance of industry went up by 1.7%, within which that of manufacturing by 1.3% compared to the same period of the previous year.

    Among manufacturing branches, the largest contributors to the growth of industry were the manufacture of electrical equipment and the manufacture of computer, electronic and optical products.

    The value added of construction increased by 3.0%. The performance of agriculture decreased by 0.6% compared to the corresponding period of the previous year.

    The gross value added of services was up by 2.4% in total, the highest growth (8.8%) was reached by information and communication. The value added of wholesale and retail trade and accommodation and food service activities as well as professional, scientific, technical and administrative activities equally rose by 5.0%.

    The performance of financial and insurance activities went up by 4.4%. The total value added of public administration, education and health decreased by 2.8%.

    Services contributed by 1.2 percentage points, industry by 0.4 percentage point and construction by 0.1 percentage point to the 2.2% rise of gross domestic product in the 1st quarter of 2020. 

  • Unemployment rate at 3.8% in Hungary

    Unemployment rate at 3.8% in Hungary

    In the period of February–April 2020, the average number of unemployed people was 174 thousand, and the unemployment rate was 3.8%, latest Hungarian Central Statistical Office data show.

    Unemployment rate was lower for men than for women, with this indicator essentially stagnating for men and increasing for women.

    In April 2020, about 73 thousand people lost their jobs, of which 54 thousand became economically inactive and 19 thousand unemployed.

    In February–April 2020, compared to a year before

    Among men aged 15–74, the number of unemployed was 92 thousand, and the unemployment rate was 3.6%. In the case of women, the number of unemployed rose to 83 thousand and the unemployment rate to 4.0%

    Among people aged 15–24, the number of the unemployed was 35 thousand and their unemployment rate 11.2%. Nearly one fifth of the unemployed belonged to this age group. Unemployment rates for people aged 25–54, being in the so-called best working age grew by 0.4 percentage point to 3.5%, and for people aged 55–74 remained virtually unchanged, with 2.1%.

    The average duration of unemployment was 9.2 months; 25.7% of unemployed people had been searching for a job for one year or more, i.e. were long-term unemployed.

    In April 2020

    The average number of unemployed people was 187 thousand, and the unemployment rate was 4.1%

    Compared to the previous month, the number of unemployed increased by 19 thousand and compared to April 2019 by 29 thousand. The unemployment rate rose by 0.5 percentage point in one month and by 0.7 percentage point in one year.

    However, the number of jobless people increased significantly compared to the previous month, by about 73 thousand.

    The majority of people who lost their jobs did not actively look for work and / or could not start a new job within 2 weeks, mainly due to restrictions on personal relationships.

  • B+N Referencia Zrt is the newest Agora Budapest tenant

    B+N Referencia Zrt is the newest Agora Budapest tenant

    B+N Referencia Zrt, a property management company, has decided to move into a brand-new workspace in Agora Budapest, HB Reavis project in the Váci business corridor.

    Employing over 6,000 people, B+N Referencia Zrt. will occupy nearly 4.000 sq m of the Agora Tower building, an area more than half the size of a football pitch. Their workspace will spread across five floors.

    The decision to move was driven by B+N Zrt.‘s intention of bringing their teams into one building to increase productivity, as the company currently operates in several offices around the city.

    85% of the Agora Budapest spaces are already occupied

  • The gross domestic product of Hungary, up by 2.2%

    The gross domestic product of Hungary, up by 2.2%

    The gross domestic product of Hungary was up by 2.2% according to raw data and by 2.0% according to seasonally and calendar adjusted and reconciled data in the 1st quarter of 2020 compared to the corresponding period of the previous year, KSH shows.

    The extraordinary situation resulting from the corona virus pandemic had a negative impact on the production of most sections, but market services and, to a lesser extent, industry, continued to be the driving forces for growth in the 1st quarter as a whole.

    Compared to the previous quarter, the volume of gross domestic product decreased by 0.4%.