A Hungarian-Canadian joint venture will restart production of fridges, probably in spring depending on the amount of orders, at the Tata factory of Finnish Helkama Forste, which went into liquidation last August.

Drug manufacturer Egis saw its yr-on-yr revenue decline 5 per cent to HUF 30.4 billion (EUR 104.57 million) in the first quarter of its business year (Q4 of 2011), but after-tax profit rose 14 per cent to HUF 5.33 billion (EUR 18.33 million).

Hungary’s largest pharmaceutical company, Richter, passed the EUR 1 billion revenue mark for the first time last year but after-tax profit fell 23.8 per cent to HUF 49.26 billion (EUR 170.28 million).

In the period between September and November 2011 the unemployment rate stood at 10.6 per cent.

Hungarian low-cost airline Wizz Air recorded a 15 per cent rise in its continent-wide passenger numbers in 2011 compared with 2010, CEO József Váradi announced on Tuesday.

American investment fund Heitmann has announced the acquisition of category “A” Budapest office buildings…

Hungarian food retailers began adopting the European Union-wide standard of printing for “best before” and production dates on 1 January. The new format, in the day/month/year order, will replace the Hungarian year/month/day standard.

German car maker Audi will set up a vehicle development centre in its Gy?r factory, where 70 engineers could find new jobs…

Venture capital manager Primus Capital announced this week that it will invest HUF 400 million (EUR 1.33 million) in nanotechnology company BBS.

Tiszaújváros-based electronics manufacturer Jabil Circuit Hungary’s new repair and service unit will begin operating in January in Pécs…