HungaryTrends – The week in business and finance

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

GREAT! BUDAPEST AIRPORT EXPANDED BY MORE THAN 10,000 SQUARE METERS – PHOTOS 

Pier B, a brand new passenger terminal section of more than 10 000 square meters adjoining Terminal 2B, was inaugurated yesterday at Budapest Airport. Going forward, the facility will be used to handle non-Schengen flights, including the wide body aircraft flying interconwide-bodylong haul routes to North America, China and the Persian Gulf. Read more HERE. 

MORE AND MORE LUXURY HOTELS OPEN IN BUDAPEST 

It seems like a new luxury hotel will be opened on the famous Andrássy Avenue in Budapest. The designated spot- home to the old library – is close to 3000 square meters and is perfectly located for tourists. Read more HERE. 

HUNGARIAN INNOVATION REVOLUTIONIZES CAMPING 

The Hungarian innovators created a new way of experiencing camping – without a tent. As hvg.hu reports, camping can be comfortable thanks to the innovative ioCamper. Read more HERE.

EP APPROVES REPORT TRIGGERING ARTICLE 7 PROCEDURE AGAINST HUNGARY

The European Parliament approved a report triggering an Article 7 procedure against Hungary which could ultimately strip the country of its EU voting rights. MEPs voted to launch the procedure because of the “existence of a clear risk of a serious breach by Hungary of the values on which the Union is founded”. Prime Minister Viktor Orbán called the report “an insult to the Hungarian people”.

MOL SIGNS CONTRACTS WITH THYSSENKRUPP ON EUR 1.2BN POLYOL PROJECT

Hungarian oil and gas company MOL signed engineering, procurement and construction contracts with Germany’s Thyssenkrupp for a 1.2 billion euro polyol plant it is building at its base in Tiszaujvaros northeast Hungary. Construction will start in Q4 2018 and the plant will become operational by the second half of 2021.