The ratio of companies going bankrupt has never been as high as it is now (4.14%), corporate researcher Dun and Bradstreet Hungária says in a new report. While the construction segment continued its bad performance of the past years, the study published this week suggests that the record was powered by the hospitality industry, which… Continue »

Hungary’s first mobile police station, kitted out with round-the-clock police presence, telephone, fax, printer, bluetooth-enhanced radio and access to central criminal records, was unveiled on Tuesday. The container building at the corner of District VIII’s Sámuel Diószeghy and Korányi Sándor utca cost HUF 9 million and more are planned for other districts with high rates… Continue »

Belarus has denied that an airborne teddy bear invasion landed in its countryside on 4 July despite committing a photography student to a longer period of detention on Wednesday over online photos of one of the plush animals. Swedish Studio Total, which brands itself as “northern Scandinavia’s most notorious ad agency”, is behind the stunt… Continue »

Siófok’s reputation as Lake Balaton’s biggest party town will be reinforced when it plays host to the fifth Siófolk Festival between Friday 27 and Sunday 29 July. But rather than usual offerings such as those from Flört the Club which we found on “The city’s official tourism site” (This Friday it’s “Sex in the Club”… Continue »

The northern town of Heves has filed for bankruptcy, making it the second-largest after Esztergom of 19 Hungarian settlements that have gone bust so far. Creditors have claims amounting to HUF 1.5 billion (EUR 5.27 million), Heves mayor Zsigmond Csáki said. “In the coming months the town will be able to provide only the bare… Continue »

The government has earmarked HUF 600 million (EUR 2.07 million) to compensate farmers whose corn had to be destroyed in June 2011 when banned genetically modified seeds were found in  parts of the country. The Ministry of Rural Development ordered producers to destroy infested crops in more than 607 hectares. Continue »

American-owned automotive supplier Remy International is planning to relocate the activities of its Hungarian factory to Mexico, which would lead to 400 to 500 workers losing their jobs, news website origo.hu said this week. Remy said it had recently re-evaluated its manufacturing strategy. “Manufacturing volume in Europe continues to be below our previous expectations, thus… Continue »