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Audi Plans Further Expansion in Hungary
Audi, the luxury-branch of Volkswagen Group has more than doubled the territory of its Hungarian base, planning to develop it to a full-standing car manufacturing site, German magazine Automobilwoche reports.
The Gyoer-based site (which currently produces 1.38 million engines a year and hosts the assembly lines of Audi TT and A3 Cabriole) is said to be completed by a chassis manufacturing and a coating plant, and become one of the key elements in VW Group's 'Strategy 2020'.
The paper assumes that Audi has chosen Gyoer over a US contender. The decision might be explained by Gyoer's strategic location, strong Hungarian supply chains, abundance i
...Unemployment historic high in Hungary
Hungary’s rate of unemployment ticked further up to a record high of 11.8% in the first quarter of 2010 from 11.4% in the previous three-month period, the Central Statistics Office (KSH) has reported. The rate of employment has also continued to drop and reached a 12-year low. The three-month moving average seldom jumps as dramatically from one month to another as it did in December 2009-February 2010 (to 11.4% from 10.8%), but the 0.4% rise is almost as bad. Interestingly enough, an even sharper increase (0.6%) was observed in the very same period a year ago, as well. The Q1 print is up 1.3% from Q4 2009, which is considered a staggering increase even though we are aware that seaso
...Exciting week ahead for investors in Hungary, worldwide
World Cup news are not the only ones to make headlines in the week ahead; the coming days will likely abound with macro data that will keep investors focused on markets. US real estate and industrial reports will stand out in importance from a succession of confidence indices.
While Hungary’s industrial sector is slowly beginning to recover, the construction industry has been unable to return to a growth cycle, with 5.8% yr/yr setback witnessed even in March. Scheduled for release on Monday, the April construction industry report is expected to bring better news as suggested by a hefty 35.3% rise in new orders in March, although this was due to a few majo
...Hungary Stands Out In The European Union
"The European Union has broken up into four or five well-definable groups with respect to the health of their economy and the fiscal policy they had chosen to adopt in a bid to remain standing amidst the strong winds of the crisis. Hungary is not in any of these.
Hungary is in a uniquely strange position within the European Union. According to recently published data Hungary was the only one of the 27 EU member states that has managed to reduce its general government deficit since the onset of the crisis in 2007. The chart below clearly demonstrates that while every country let their respective purse strings rather loose, Hungary has just kept
...Summer university organized by KÖVET Association on Sustainability and Corporate Social Responsibility (CSR)
Date: 5-10th July, 2010
Venue: Keszthely, Lake Balaton, Hungary
Organizer: KÖVET Association
Target group:
- University and PhD students who are deeply interested in and devoted to the topics, and plan to work at forprofit organizations
- Junior managers, researchers graduated within five years
Programme of summer university:
Main topics:
- Sustainability: definitions and problems
- Companies vs. sustainability
- Global economic crisis vs. localization
- Environme
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