The German Chambers of Commerce and Industry (AHK) in 16 countries across Central and Eastern Europe in 2006 joined to establish a common survey on economic and investment conditions in the region. The aim of the survey is to provide unbiased, reliable, comparable and up‐to‐date information on these markets by asking managers of international companies operating in these countries. The detailed results of the 11th joint survey can be found here in Hungarian.
Support schemes under the current EU funding cycle (2014-2020) have either recently been launched or will be launched this spring. The government’s stated objectives are to speed up the contracting of the funds available for Hungary in this programming period. Therefore, there is obvious interest among business, including Commercial Chamber members, to learn about the avenues of developing and joining projects and partners running for support under various funding schemes.
Hungary has a medium-sized, high in come and open economy. Hungary has been a member of the OECD since 1995, the WTO since 1996, and the European Union since 2004. The service sector accounts for over 60% of GDP and its role in the Hungarian economy is steadily growing due to constant investments into transport and other services in the last 15 years. Situated in the heart of Central Europe, Hungary’s location plays a significant role in attracting investment into the country.
The British Chamber of Commerce in Hungary RECOGNISED AS AN INVESTOR IN PEOPLE
British Chamber of Commerce in Hungary, a non-profit organisation has been awarded the Investors in People accreditation, demonstrating their commitment to realising the potential of their people.
Investors in People Standard is the UK's leading accreditation for business improvement through people management, and provides a wealth of resources for businesses to innovate, improve and grow, with a focus on good people making great business.
For 2016, we would like to offer a new exciting initiative for our members. We are happy to announce the launch of the ”Coaching Excellence” Programme whereby one top management member, a C-level executive of every BCCH member company, such as a chairman/chairwoman, chief executive officer, managing director, president, executive director, executive vice president, and management members, may have the possibility to participate in a pro bono coaching programme.
Catalina Susan was appointed the new General Manager for the Courtyard by Marriott Budapest City Center, joining from her role as Director of Finance at the Warsaw Marriott Hotel. She has experience gained over 10 years career with Marriott International holding various executive positions. Her previous positions included Senior Assistant Controller at the JW Marriott Bucharest Grand Hotel and at the Warsaw Marriott Hotel where she had the opportunity to lead the entire Finance Department as Director of Finance, too. She has comprehensive experience and knowledge in new business development, strategic planning as well as strong leadership. She is bringing an enviable level of quality, service and innovation for business and leisure travellers in the city. In her spare time, she loves reading, travelling, and gardening. She is a native Romanian and fluent in English.
The “sharing economy” companies that are emerging on the back of radical changes in consumer habits – Couchsurfing, Airbnb, Uber and their peers – have overturned entire sectors with their so-called “creative disruption” in the space of only a few years. We can safely say that they are associated with one of the most important global trends and success stories of recent years and, with all certainty, of years to come, and – although controversial – they are going to bring profound changes to our business environment. Certain sharing economy players have grown into global companies in the space of only a few years. In July 2015, according to an analysis by the Wall Street Journal, Uber’s value had topped 50 billion dollars, making it worth more than 80% of the S&P 500 companies, while Airbnb was valued at 24 billion dollars. A related study by PwC shows that while in 2013 the sharing economy companies in the five sectors where the new business model is the most prevalent earned sales revenue of 15 billion dollars, by 2025 this will have risen to 335 billion dollars, so half of the revenues in these markets will go to companies with a sharing-based model.
Demonstrating that corporations no longer have to choose between ‘profit and planet', GE has delivered a cash-positive lighting infrastructure upgrade for the UK business of global banking institution Santander.
(SAN FRANCISCO – February 22, 2016) – Squire Patton Boggs and California-based Carroll, Burdick & McDonough today announce that they have reached a definitive agreement to combine firms.
The combination will create the world's premier product quality, brand protection and compliance practice, joining together Squire Patton Boggs’ leading global platform of over 1,500 lawyers spanning 45 offices in 21 countries in the Americas, Asia Pacific, Europe and the Middle East, with Carroll Burdick, a complex litigation and products risk management powerhouse with over 50 lawyers on three continents.
We are delighted to announce that First Title Insurance plc, a BCCH Member, has won ‘Professional Service Provider of the Year’ at EuropaProperty’s 8th annual CEE Retail Real Estate Awards Gala, which took place at Warsaw’s InterContinental Hotel.
These high-profile awards are recognised by the retail and commercial real estate market as the benchmark for retail success in CEE and the awards recognise and reward contribution to the development of the retail commercial real estate market throughout the CEE region. The award for ‘Professional Service Provider of the Year’ was considered by an independent jury comprised of experienced real estate professionals and it found that First Title Insurance lead the way in 2015.
There are a number of changes to the accounting and tax legislation of Hungary came into effect on 1 January 2016. To give you an overall view of these changes, TMF Group has summarized the articles we have recently published on our website.