Top Manager in Discussion: Frank Klein, CEO of Mercedes-Benz Manufacturing Hungary.
The fact that the investment of Daimler AG in Kecskemét is progressing so well is due in no small part to Frank Klein, who has been in charge of the factory development since February of this year as CEO of Mercedes-Benz Manufacturing Hungary Kft. The Budapest Times spoke to him on-site about how the construction work is going and the milestones to come.
Top Manager in Discussion: Dr. László Balázs CEO, director of corporate & treasury and Zoltán Kiss Deputy CEO, director of retail from Volksbank Hungary.
Volksbank Hungary is predicting that big banks will get bigger in the next five years while only those niche players with an appropriate business model will remain in Hungary.
Top Manager in Discussion: Margit Labancz, director of MKB Bank’s financial institutes, syndicates and business development division
MKB Bank assists logistics companies in their domestic and foreign trade activities with advice, selection of the appropriate payment method and mediation between sellers and buyers, says Margit Labancz, director of MKB Bank’s financial institutes, syndicates and business development division.
Interview with Christian Beck, marketing director of Cora Magyarország Kft.
The economic crisis has had a significant effect on the product range policy of the seven Hungarian Cora hypermarkets. The Budapest Times spoke to the French marketing director of Cora Magyarország Kft. Christian Beck, who has lived in Hungary for 11 years, about this development and other consequences of the crisis.
Interview with Jürgen Grunert, commercial director of IT Services Hungary Kft.
Almost in the shadow of Magyar Telekom, another Deutsche Telekom company in Hungary has also grown to a considerable size. The 100% T-Systems subsidiary IT Services Hungary Kft. currently employs 2,000 staff at its two sites in Budapest and Debrecen. That number is to grow by a further 20% within a year. The Budapest Times spoke to the company’s commercial director Jürgen Grunert about that process and the significance of the firm in terms of division of work within the Deutsche Telekom Group.
Ken Baines, Headmaster at Britannica International School.
Last year it was the American International School of Budapest that was making the bold moves in the international schools market, consolidating all its students on an expanded campus in Nagykovácsi, about 5 km west of leafy Buda. This year it is the turn of UK firm Orbital Education, owners of Britannica International School on Aga utca in District XI. (Kevin McNeany is director of Orbital and Brian Frakes is the firm's International Education Development Officer).
Hungary is leading the way in Europe in terms of telecommunication networks. The Budapest Times spoke to Magyar Telekom CFO Thilo Kusch about the resulting business opportunities as well as Hungary’s responsibility as a regional pacesetter.
Top Manager in Discussion: Kevin McNeany, director of Orbital Education, owner of Britannica International School.
While much of the Hungarian economy appears to be marking time according to GDP figures, a British entrepreneur is returning to Budapest in order to take advantage of a new opportunity. Kevin McNeany, best known as the talent behind Nord Anglia, the firm which built up the British School here in Budapest and others around the world has bought back into the market. He aims to take Britannica International School from the ranks of the handful of smaller international schools in and around Budapest to the top of the table; from District XI to District XII. This week he announced significant changes in the school. Britannica will move to new premises in District XII in September. McNeany has acquired a lease on the premises which up to recently were occupied by the American International School of Budapest in Kakkuk.
Vodafone Hungary Zrt. will soon have its first shop catering to English-speaking expats in Aréna Plaza. One of the key driving forces behind the change is CFO Frank Krause. We spoke to him about the reasons for the initiative and its prospects.
After almost two decades of unsuccessful attempts by
newly appointed managers, since the start of this year two arrivals
from Germany have been doing their best to get Hungarian airline Malév
out of the red: Martin Gauss as Chief Executive Officer and Karim
Makhlouf, chief commercial officer. Long-time Lufthansa manager
Makhlouf told The Budapest Times how they intend to rehabilitate Malév,
and why they are convinced that they will be the ones to succeed.
From this edition onwards the research department of
Takarékbank Zrt led by Zoltán Ádám will evaluate current macro-economic
developments and their likely effects on this page. We spoke to him
about the work of an analyst and asked him for a general view of the
current economic situation.
A diversification strategy adopted a few years ago has
significantly cushioned the effects of the crisis for Hungaropress,
which originally was solely a newspaper and magazine importer. CEO
Hinnerk de Boer spoke to The Budapest Times about the strategic
realignment of his company.
Budapest is home to one of the Bosch group’s most
important research centres. The Budapest Times spoke to general manager
Thomas E. Beyer about cars of the future and integrated energy concepts.
In a recently released global study by the World Bank,
the Hungarian agency for investment promotion and trade development,
ITD Hungary came 14th out of 220 agencies. The company's CEO György
Rétfalvi spoke to The Budapest Times about how the agency had been able
to outperform most of the others.
At first glance the property industry is one of the
major victims of the economic crisis. Looking more closely, however,
attractive business opportunities remain according to Róbert Csűri,
country manager of real estate conglomerate A1.
This week Luther Gobert, Fest & Partners Attorneys
at Law and Tax Advisors will celebrate its membership of international
tax consultancy network Taxand. That step was preceded by the addition
of a tax consultancy department to what was originally solely a law
firm. Managing partner Dr Arne Gobert and the leader of the new
department Lilla Stricca spoke to The Budapest Times about the reasons
for the change.
The New Year has brought little in the way of legal
changes apart from those on taxation. There are so many uncertainties
regarding the new Civil Code scheduled to come into force this spring
that it is premature for company leaders to concern themselves with it.
The Budapest Times also spoke to lawyers Dr. Ákos Erős and Dr. Ákos
Mester, partners of the Hungarian office of the American law firm
Squire, Sanders & Dempsey about current economic trends.
Although there are some new hurdles, EU funding
continues to be available as an alternative financing source for
investments and there are even reasons to apply for such money
precisely now, according to Nils Blunck, director and owner of Blucron
Kft, which has supported companies in obtaining EU funding for more
than ten years. The Budapest Times also spoke to Blunck about the black
sheep operating in the sector.
There has been plenty in the press in recent weeks about
the global economic downturn taking its toll on the car industry. In
conversation with Regina rent-a-car’s founder and owner in Hungary,
Jenő Bánki, we found that this situation is no different for rental
agencies. The reasons, however, are different than one might imagine.
This week the bnt Szabó Tom Burmeister law firm combines
the officially opening of its office in Stefánia Park, formerly home to
the German embassy, with a celebration to mark its fifth birthday. The
positive business development of the firm and its growth prospects
despite Hungary 's economic situation are also reasons to celebrate.
Solicitor and partner Tom spoke to The Budapest Times about the reasons
for his confidence.
Competition in private banking is tough and chiefly
fought out over the investment products available and the level of
service. Sven Doernbrack, Department Director of MKB Bank Zrt. Private
Banking, spoke to The Budapest Times about MKB Bank's strategy and the
outlook for this year.
Laurent Bétourné has been general manager of the
Budapest Sofitel since last winter. The Budapest Times spoke to the
Frenchman about hotels, luxury and life as a professional expat.
The Bosch “Életre tervezve” prize was recently awarded.
The Budapest Times spoke to Jan Peter Stadler, leader of Bosch’s
development department about the company’s innovation.
While the large banks have to overcome problems of
varying severity and staff cuts are also on the agenda due to the
economic crisis, the situation at the relatively small Sopron Bank Zrt
is fairly relaxed. The bank’s CEO spoke to The Budapest Times about the
reasons.
It is still widely assumed that the number of western
foreigners in Hungary has been decreasing since the boom years of
development in the ‘90s. “My figures paint a different picture,” Zoltán
Tóth, CEO of relocation company Herber Hausner Kft said.
Despite the tight budget situation the Finance Ministry
granted some relief to taxpayers at the start of the year. The Budapest
Times spoke to Zoltán Lambert, founder and CEO of HLB Klient Holding
about the extent to which the changes will really make a perceptible
difference or are merely of a cosmetic nature. His company specialises
in accounting, auditing and tax and legal consultancy.
The German chemicals
giant BASF is present in Hungary in all of its 14 business areas. Dr.
Herbert Fisch, CEO of BASF Hungária Kft for Hungary and regional
director for Romania, Bulgaria and the former Yugoslavian countries
told The Budapest Times that he is cautiously confident about about
2010.
In a few weeks’ time HLB Klient Kft will celebrate its
tenth anniversary and officially open in the smart new StefániaPark
office building. Last year the firm moved into the light-flooded top
two floors of the freshly refurbished building that formerly housed the
German Embassy. The company, which started out specialising in
accountancy, has since expanded its profile to include auditing, tax
consultancy and legal advice. The Budapest Times spoke to the founder
of the company and CEO Zoltán Lambert about the challenges that the
sector currently faces.
Conditions on the electricity market will not get any
easier. Nevertheless the German owners of the Budapest Electric Works
(ELMŰ), RWE and EnBW are continuing to invest heavily in Hungary. The
Budapest Times spoke to Emmerich Endresz, CEO of ELMŰ Nyrt about the
challenges of the economic crisis and the still too unpredictable
general conditions of the energy business in Hungary.
Since 1 January, 2008 the business unit of Magyar
Telekom, T-Systems – which is dedicated to corporate customers – has
dealt with SMEs as well as large companies. István Papp, head of this
business unit and chief officer of Magyar Telekom Nyrt, believes that
the financial crisis offers the opportunity of expanding his
outsourcing model more quickly. “In the medium-term we will be among
the winners in the crisis,” he says.
John Smith, CEO of Recruitment International Kft, saw
panic in the economy and a recovery that was just as quick with the
Bokros austerity package in the mid ’90s
The advertising industry is undoubtedly one area that is
significantly affected by the financial and economic crisis. The
Budapest Times spoke to György Kertész, managing partner of PR
consultancy firm Eurolex Consulting Kft about why that is so and the
future of the industry.
Hungarian
law firm Luther – Gobert Fest & Partners, which belongs to the Pinsent
Masons Luther Group (PMLG), believes that the current financial and economic
crisis also offers opportunities. We spoke to managing partner Dr Arne Gobert,
who sits as an executive member on the PMLG board, about the possibilities and
challenges presented by the crisis. Gobert also gave advice on how clients
should go about selecting the optimal law firm.
The
property investments of foreigners in Hungary a few years ago created the
need for a new service. Managerent responded to this need by starting to manage
the apartments purchased by foreigners in the new build developments of Autóker
Holding. We spoke with Judit Szelevényi, the director of Managerent, which
manages apartments in Autóker projects, about the experiences of the company in
the last three years and the latest property market trends.
For roughly
a month now companies have only been able to register or amend their data at
the company registry electronically. The system used was developed by Microsec.
We spoke with development director Márton Hegedüs about the changeover and how
the use of electronic signatures could be extended in Hungary.
Countless announcements
and ideas on reforming the Hungarian tax system have hardly made it easier to
gain a clear view of this issue. Gabriella Erdős, senior partner at PricewaterhouseCoopers
Kft, helps to clear up the confusion and provide a realistic look at the future
of the tax system in an interview with The Budapest Times.
The international law
firm Salans with just four years of practice in Hungary counts as one of the
newcomers on the Hungarian market. Nevertheless, its Hungarian partners have
set themselves ambitious targets, one of which is to develop the strongest
German desk in the medium-term. We spoke to the founder of the law firm, Tamás
Tercsák, and the head of the German desk, Andreas Köhler, about the challenges
of the Hungarian market.
Takarékbank Zrt officially celebrates its 20th
anniversary this week. The Budapest Times asked CEO Péter Csicsáky, who
has worked for the bank since 1994, about the effects of the crisis and
the future of the Hungarian cooperative sector.
After a relatively long
time with the same logo – by Hungarian standards – the Hungarian savings
cooperatives have created the TakarékPont brand. We spoke to Levente Szabó,
board member at Takarékbank, about the changes and current challenges on the
Hungarian market.
The German
property giant IVG has been present in Hungary for ten years through IVG
Development Hungary. The Infopark project in District XI serves as a billboard
for the company. The Budapest Times spoke to IVG Hungaria’s CEO Kay-Uwe Blandow
about the company’s further construction projects, as well as the increasingly
problematic aspects of doing business in Hungary.
Building materials
producer Baumit Kft is the main sponsor of the nationwide “facade of the year”
competition, which has been held since 2002. The Budapest Times spoke with
Gábor Illy, who took up his post as managing director on 1 January, about
winning facades and dodgy dealings in the building sector.
Since the
start of this year financial service providers which offer operative vehicle
leasing have been able to breathe a sigh of relief. Thanks to the deductibility
of the VAT on the vehicles they purchase, their service has become a fifth
cheaper. The Budapest Times spoke to Nigel Storny, who has been commercial
director of the Hungarian market leader LeasePlan Hungária for two months,
about the resulting growth opportunities and operational leasing in general.
This spring
Fiege Kft will complete its integration into the German Fiege Group, bringing
to a close the over one-year transition period from Rewico to Fiege. We spoke
to Árpád Vásárhelyi, CEO of Fiege Kft, about the current trends in logistics.
The
five-year-old AsiaCenter, and in particular the efforts of its Austrian owner,
Strabag, are responsible in no small part for flourishing trade relations
between Hungary and the Far East. ÁsiaCenter Managing Director Rudolf Riedl
speaks about the origins and perspectives of the roughly 120,000 square metre
Far Eastern trade complex in Budapest.
Volksbank’s numerous links to corporate clients have
not only given the 15-year-old bank impressive growth figures, but have also
put its CEO László Balázs in a position to talk authoritatively on the state of
the economy and the most urgent economic policy tasks facing the government.
Hungaropress Kft., with its Relay and Inmedio newsstands, is responsible for foreign titles in newspaper and magazine distribution company Lapker Zrt. It is seeing a shift in the market to English from German.
Bucking hard times This year DIY outlet Praktiker Magyarország Kft. celebrates its tenth anniversary in Hungary. The company continues to be led by its original CEO Karl-Heinz Keth.
HOCHTIEF Development Hungary, the local subsidiary of the German construction services provider HOCHTIEF, laid the corner stone of its first project in Hungarylast October: the huge
Capital Squareoffice complex with a gross floor area of some 38,500 square metres. We spoke to Sven Göller, CEO of HOCHTIEF Development Hungary, about this and follow-up projects.
Whilst the state wholesale monopolist Magyar Villamos Művek (Hungarian Electricity Works – MVM) can keep a low profile regarding the January price increases, Hungary’s private electricity traders have to present the higher prices to the outside world. The Budapest Times spoke with ELMŰ CEO Emmerich Endresz about the difficulties of further liberalising the electricity market.
The German Business Club (DWC) welcomed one of Hungary’s most prominent business personalities Gábor Széles as its guest speaker at its September event. During his talk, the industrialist made no bones about his uncompromising rejection of the Hungarian government and Prime Minister Ferenc Gyurcsány. He painted a grim picture of Hungary’s current economic and political situation.
“It is a fact, however, that Siemens signed
consultancy contracts with firms, which were in the name of homeless people. We
did not know the homeless people. Our contact person was a certain Mr Schrödl,
who has been on the run since his cover was blown. He was our direct contract partner.
Only he appeared as the representative of his companies...We only learnt that
the companies were inactive when the investigation began against Mr Schrödl and
a little later against the homeless people. It’s an extremely unpleasant story
for us.” László Szentkuti, CEO
Growth tied to ability to integrate new workers Thomas
Beyer, the CEO of Robert Bosch Kft., who has been in charge of the
German engineering giant’s Hungarian activities for six months, last
week spoke to The Budapest Times about the opportunities Hungary offers
and the difficulties of doing business here as a result of the
government’s austerity package.
Review: Kredenc Borbisztró, Balatonfüred. Strolling through the elegant quarter of Balatonfüred built during the Reform period (beginning of the 19th century), visitors will come across the Kredenc wine…
Interview with master sushi chef Nobu “They are acting as though I were a film star!” joked Nobuyuki Matsuhisa at a press conference in the Kempinski Hotel ahead…
Review: Hotel President’s Panorama Terrace, District V. The Hotel President’s glamorous helipad restaurant above the rooftops of Budapest can hardly be beaten as a venue for a romantic dinner.…
Review: Café Briós on Pozsonyi út. Brioche is traditionally eaten for breakfast in France. In Budapest it can also be enjoyed at the recently-opened Café Briós (briós is…
Review: “bq” Beer & Barbecue Grill Terrace and Fashion Lounge on Fashion Street. It is well known that cafés and restaurants near the main tourist streets in big…
Café Eckermann closes. For some 11 years Café Eckermann had been a fixed point on Budapest’s cultural landscape, attracting students, tourists and intellectuals. The café made…
Review: Corinthia Hotel Budapest Sunday BrunchThe Corinthia Hotel Budapest located on the Nagykörút (Grand Boulevard) not far from Oktogon is rightly lauded as one of the capital’s most…
Since the beginning of the year Pécs, the European Capital of Culture 2010, has been the focus of attention. Now alongside the large-scale festivals, exhibitions, concerts and other events,…
Review: Café A.P.A. Cuka, District VIII. Once you’ve seen one, you’ve seen them all, one might think when it comes to the ruin pubs in Budapest. In addition…
Few have the drive & dollars to chase a Michelin star. According to the Michelin Guide exceptional, innovative cuisine is rare in Hungary. One exception is the…
Review: Part II – Peppers! Mediterranean Grill in the Marriott Hotel. Entering the lobby of the Marriott Hotel you could wonder whether you are still in Budapest. Palm…
Review: Chef's table at Peppers! Mediterranean Grill in the Marriott Hotel. A special menu was served to ten select guests on 22 April in the Hotel Marrriot's Mediterranean…
Review: Culináris restaurant, District V. Anyone wanting to buy international gourmet products in Budapest should visit one of the three Culináris shops, in Perc utca (District III), on…
Review: Vakvarjú, District VI. Vakvarjú on Paulay Ede utca sees its role as a restaurant as much more than simply preparing and serving meals. It sets out…
Russian weeks at the Mirror Café & Restaurant. A few years ago Budapest boasted a number of Russian restaurants. Of those only Arany Kaviár (“Golden Caviar”) in…
Review: Zsivágó Café, District VI. It would be possible to while away whole days in the Zsivágó Café in the manner of an Anton Chekov character, laughing through…
Review: Poncichter. On Friday at 10pm the noise level is considerable. There is discussion, debate and laughter. Young and old, regulars and first-time guests speak above each other…
Relaxed, not rushed. The Café Jubilee opened a stone’s throw from Jászai Mari tér on Szent István körút at the end of February. Its owner Alex Scicluna hopes…
After two successful years in Bécsi utca, the German-Italian fast food chain Vapiano opened a new branch in Budapest on Bécsi út at the end of last year.…
Spájz is a Hungarianised abbreviation of the German Speisekammer, meaning larder. Árpád Horváth gave that name to his pub/restaurant in Lázár utca, evidently in reference not to the…
Sercli’s name translates as the “bread crust”, but this attractive restaurant serves a far greater range of food. Situated near Ferenciek tere in Veres Palné utca in a…
Olíva, which opened in 2003, is centrally located on the corner of Bajcsy Zsilinszky út and Lázár utca. The warm, dimmed lighting, an abundance of wood and rustic,…
The lengthy queues outside the cellar restaurant in Vigyázó Ferenc utca every lunchtime must say something: the small self-service restaurant Govinda offers one of the most authentic experiences…
On entering Master Wang’s Kitchen (Wang mester konyhája) customers can happily throw away any preconceptions they had of Chinese gastronomy in Eastern Europe. Tucked away in the rather…
Even in winter Szentendre is worth the trip. Anyone who loves hearty dishes such as pork knuckle will be in their element at Erm’s restaurant. Jazz fans will…
Top Manager in Discussion: Frank Klein, CEO of Mercedes-Benz Manufacturing Hungary. 
Top Manager in Discussion: Dr. László Balázs CEO, director of corporate & treasury and Zoltán Kiss Deputy CEO, director of retail from Volksbank Hungary. 
Interview with Christian Beck, marketing director of Cora Magyarország Kft.
Outsourcing as driving force behind growth. 
In interview: Jane Thompson, headmaster at British International School, Budapest and John Hart, BISB’s new Head of Secondary School
Ken Baines, Headmaster at Britannica International School. 
Thilo Kusch, CFO of Magyar Telekom NyRt. 
Top Manager in Discussion: Kevin McNeany, director of Orbital Education, owner of Britannica International School. 
Vodafone Hungary Zrt. will soon have its first shop catering to English-speaking expats in Aréna Plaza. One of the key driving forces behind the change is CFO Frank Krause. We spoke to him about the reasons for the initiative and its prospects. 
After almost two decades of unsuccessful attempts by
newly appointed managers, since the start of this year two arrivals
from Germany have been doing their best to get Hungarian airline Malév
out of the red: Martin Gauss as Chief Executive Officer and Karim
Makhlouf, chief commercial officer. Long-time Lufthansa manager
Makhlouf told The Budapest Times how they intend to rehabilitate Malév,
and why they are convinced that they will be the ones to succeed.
From this edition onwards the research department of
Takarékbank Zrt led by Zoltán Ádám will evaluate current macro-economic
developments and their likely effects on this page. We spoke to him
about the work of an analyst and asked him for a general view of the
current economic situation.
A diversification strategy adopted a few years ago has
significantly cushioned the effects of the crisis for Hungaropress,
which originally was solely a newspaper and magazine importer. CEO
Hinnerk de Boer spoke to The Budapest Times about the strategic
realignment of his company.
In a recently released global study by the World Bank,
the Hungarian agency for investment promotion and trade development,
ITD Hungary came 14th out of 220 agencies. The company's CEO György
Rétfalvi spoke to The Budapest Times about how the agency had been able
to outperform most of the others.
Top Manager in Discussion: Ákos Niklai, chairman of the Hungarian National Tourist Office
The Budapest Times spoke to Tibor Tatár
about the Corvin Promenade, projects
on the go and the effects of the
economic crisis.
At first glance the property industry is one of the
major victims of the economic crisis. Looking more closely, however,
attractive business opportunities remain according to Róbert Csűri,
country manager of real estate conglomerate A1.
This week Luther Gobert, Fest & Partners Attorneys
at Law and Tax Advisors will celebrate its membership of international
tax consultancy network Taxand. That step was preceded by the addition
of a tax consultancy department to what was originally solely a law
firm. Managing partner Dr Arne Gobert and the leader of the new
department Lilla Stricca spoke to The Budapest Times about the reasons
for the change.
The New Year has brought little in the way of legal
changes apart from those on taxation. There are so many uncertainties
regarding the new Civil Code scheduled to come into force this spring
that it is premature for company leaders to concern themselves with it.
The Budapest Times also spoke to lawyers Dr. Ákos Erős and Dr. Ákos
Mester, partners of the Hungarian office of the American law firm
Squire, Sanders & Dempsey about current economic trends.
Although there are some new hurdles, EU funding
continues to be available as an alternative financing source for
investments and there are even reasons to apply for such money
precisely now, according to Nils Blunck, director and owner of Blucron
Kft, which has supported companies in obtaining EU funding for more
than ten years. The Budapest Times also spoke to Blunck about the black
sheep operating in the sector.
There has been plenty in the press in recent weeks about
the global economic downturn taking its toll on the car industry. In
conversation with Regina rent-a-car’s founder and owner in Hungary,
Jenő Bánki, we found that this situation is no different for rental
agencies. The reasons, however, are different than one might imagine.
This week the bnt Szabó Tom Burmeister law firm combines
the officially opening of its office in Stefánia Park, formerly home to
the German embassy, with a celebration to mark its fifth birthday. The
positive business development of the firm and its growth prospects
despite Hungary 's economic situation are also reasons to celebrate.
Solicitor and partner Tom spoke to The Budapest Times about the reasons
for his confidence.
Competition in private banking is tough and chiefly
fought out over the investment products available and the level of
service. Sven Doernbrack, Department Director of MKB Bank Zrt. Private
Banking, spoke to The Budapest Times about MKB Bank's strategy and the
outlook for this year.
Laurent Bétourné has been general manager of the
Budapest Sofitel since last winter. The Budapest Times spoke to the
Frenchman about hotels, luxury and life as a professional expat.
The Bosch “Életre tervezve” prize was recently awarded.
The Budapest Times spoke to Jan Peter Stadler, leader of Bosch’s
development department about the company’s innovation. 
While the large banks have to overcome problems of
varying severity and staff cuts are also on the agenda due to the
economic crisis, the situation at the relatively small Sopron Bank Zrt
is fairly relaxed. The bank’s CEO spoke to The Budapest Times about the
reasons.
It is still widely assumed that the number of western
foreigners in Hungary has been decreasing since the boom years of
development in the ‘90s. “My figures paint a different picture,” Zoltán
Tóth, CEO of relocation company Herber Hausner Kft said.
bs.jpg "Image")
Despite the tight budget situation the Finance Ministry
granted some relief to taxpayers at the start of the year. The Budapest
Times spoke to Zoltán Lambert, founder and CEO of HLB Klient Holding
about the extent to which the changes will really make a perceptible
difference or are merely of a cosmetic nature. His company specialises
in accounting, auditing and tax and legal consultancy.
The German chemicals
giant BASF is present in Hungary in all of its 14 business areas. Dr.
Herbert Fisch, CEO of BASF Hungária Kft for Hungary and regional
director for Romania, Bulgaria and the former Yugoslavian countries
told The Budapest Times that he is cautiously confident about about
2010.
In a few weeks’ time HLB Klient Kft will celebrate its
tenth anniversary and officially open in the smart new StefániaPark
office building. Last year the firm moved into the light-flooded top
two floors of the freshly refurbished building that formerly housed the
German Embassy. The company, which started out specialising in
accountancy, has since expanded its profile to include auditing, tax
consultancy and legal advice. The Budapest Times spoke to the founder
of the company and CEO Zoltán Lambert about the challenges that the
sector currently faces.
Conditions on the electricity market will not get any
easier. Nevertheless the German owners of the Budapest Electric Works
(ELMŰ), RWE and EnBW are continuing to invest heavily in Hungary. The
Budapest Times spoke to Emmerich Endresz, CEO of ELMŰ Nyrt about the
challenges of the economic crisis and the still too unpredictable
general conditions of the energy business in Hungary.
Since 1 January, 2008 the business unit of Magyar
Telekom, T-Systems – which is dedicated to corporate customers – has
dealt with SMEs as well as large companies. István Papp, head of this
business unit and chief officer of Magyar Telekom Nyrt, believes that
the financial crisis offers the opportunity of expanding his
outsourcing model more quickly. “In the medium-term we will be among
the winners in the crisis,” he says.
John Smith, CEO of Recruitment International Kft, saw
panic in the economy and a recovery that was just as quick with the
Bokros austerity package in the mid ’90s
The advertising industry is undoubtedly one area that is
significantly affected by the financial and economic crisis. The
Budapest Times spoke to György Kertész, managing partner of PR
consultancy firm Eurolex Consulting Kft about why that is so and the
future of the industry.
The title "banker of the year" awarded by MasterCard
this year went to László Balázs, general director of Magyarországi
Volksbank Zrt.
Hungarian
law firm Luther – Gobert Fest & Partners, which belongs to the Pinsent
Masons Luther Group (PMLG), believes that the current financial and economic
crisis also offers opportunities. We spoke to managing partner Dr Arne Gobert,
who sits as an executive member on the PMLG board, about the possibilities and
challenges presented by the crisis. Gobert also gave advice on how clients
should go about selecting the optimal law firm.
The
property investments of foreigners in 
For roughly
a month now companies have only been able to register or amend their data at
the company registry electronically. The system used was developed by Microsec.
We spoke with development director Márton Hegedüs about the changeover and how
the use of electronic signatures could be extended in 
Countless announcements
and ideas on reforming the Hungarian tax system have hardly made it easier to
gain a clear view of this issue. Gabriella Erdős, senior partner at PricewaterhouseCoopers
Kft, helps to clear up the confusion and provide a realistic look at the future
of the tax system in an interview with The Budapest Times.
The international law
firm Salans with just four years of practice in Hungary counts as one of the
newcomers on the Hungarian market. Nevertheless, its Hungarian partners have
set themselves ambitious targets, one of which is to develop the strongest
German desk in the medium-term. We spoke to the founder of the law firm, Tamás
Tercsák, and the head of the German desk, Andreas Köhler, about the challenges
of the Hungarian market.
Takarékbank Zrt officially celebrates its 20th
anniversary this week. The Budapest Times asked CEO Péter Csicsáky, who
has worked for the bank since 1994, about the effects of the crisis and
the future of the Hungarian cooperative sector.
After a relatively long
time with the same logo – by Hungarian standards – the Hungarian savings
cooperatives have created the TakarékPont brand. We spoke to Levente Szabó,
board member at Takarékbank, about the changes and current challenges on the
Hungarian market.
The German
property giant IVG has been present in 
Building materials
producer Baumit Kft is the main sponsor of the nationwide “facade of the year”
competition, which has been held since 2002. The Budapest Times spoke with
Gábor Illy, who took up his post as managing director on 1 January, about
winning facades and dodgy dealings in the building sector.
Since the
start of this year financial service providers which offer operative vehicle
leasing have been able to breathe a sigh of relief. Thanks to the deductibility
of the VAT on the vehicles they purchase, their service has become a fifth
cheaper. The Budapest Times spoke to Nigel Storny, who has been commercial
director of the Hungarian market leader LeasePlan Hungária for two months,
about the resulting growth opportunities and operational leasing in general.
This spring
Fiege Kft will complete its integration into the German Fiege Group, bringing
to a close the over one-year transition period from Rewico to Fiege. We spoke
to Árpád Vásárhelyi, CEO of Fiege Kft, about the current trends in logistics.
The
five-year-old AsiaCenter, and in particular the efforts of its Austrian owner,
Strabag, are responsible in no small part for flourishing trade relations
between 
Volksbank’s numerous links to corporate clients have
not only given the 15-year-old bank impressive growth figures, but have also
put its CEO László Balázs in a position to talk authoritatively on the state of
the economy and the most urgent economic policy tasks facing the government.
Hungaropress Kft., with its Relay and Inmedio newsstands, is responsible for foreign titles in newspaper and magazine distribution company Lapker Zrt. It is seeing a shift in the market to English from German.
Bucking hard times
HOCHTIEF Development Hungary, the local subsidiary of the German construction services provider HOCHTIEF, laid the corner stone of its first project in 
The German Business Club (DWC) welcomed one of 
