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HungaryTrends – The week in business and finance
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See below main business and financial news from the previous week:
DIRECT FLIGHTS TO BE ANNOUNCED BETWEEN BUDAPEST AND SEOUL IN 2019
South Korean low-cost airline will launch flights to Budapest, to the Balkan and to Eastern Europe. Read more details HERE.
EUROPEAN PARLIAMENT HOSTS INTERNATIONAL CONFERENCE ON WAGE UNION
Meeting in a conference called “Equal Pay for Equal Work”, economists, professors, experts, Members of the European Parliament and trade union leaders discussed such issues as the income gap in the EU, the problems of competitiveness, the benefits and drawbacks of labour mobility as well as how the demographic crisis affects the labour market. Read more details HERE.
SK INNOVATION TO BUILD EV BATTERY PLANT IN NW HUNGARY
South Korean SK Innovation will build a plant making lithium batteries for electric vehicles in Komárom (NW Hungary). The company plans to start construction in February 2018, test operation is due to begin in summer 2019, and commercial production from January 2020.
THE PRICE OF THE HUNGARIAN SOIL IS HEAVILY INCREASING
The price of soil in Hungary has increased by 10% in 2016. The value of the Hungarian soil has surpassed the level of the previous year by 11.2 % thus, on average, 1 hectare of land in Hungary was worth around 1.22 million forints (4,067 euros) in 2016. That is what is revealed by the Soil Index of TAKARÉK.
CHINESE PREMIER LI KEQIANG ARRIVES IN BUDAPEST FOR 16+1 SUMMIT
Chinese Premier Li Keqiang arrived in Budapest on Sunday ahead of a summit with the heads of government of 16 countries in the region. The China-Central and Eastern European countries (China-CEEC) summit was held next day.
CHINESE OBSESSION AROUND FLATS IN BUDAPEST
The demand for Hungarian flats in China was increased by 40% compared to last year. Potential Chinese buyers search for flats in Districts II and III for 54-80 million HUF, and in Districts XIV, XVI, XVII for 47-69 million HUF.
TENDER FOR BUDAPEST-BELGRADE RAIL LINE UPGRADE PUBLISHED
The deadline for the submission of tenders or requests to participate is January 19, 2018 in a two-phase tender Hungary called for the upgrade of the Hungarian stretch of the Budapest-Belgrade rail line. The contracting entity is Chinese-Hungarian Railway Nonprofit Ltd, the tender invitation, published on the website of MÁV shows. Read more details HERE.