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28th August, 2025
4iG to co-operate with Condor
4iG announced that its space and defence subsidiary has signed a non-binding memorandum of understanding with Brazilian firm Condor Industria Quimica – Condor NonLethal Technologies, a member of the United Arab Emirates-based EDGE Group.
The parties agree to jointly explore and develop the possibility of establishing a regional centre in Hungary for non-lethal, traumatic defence solutions.
The co-operation may include training and research programmes, technology transfer, and logistics activities.
Condor is a global leader in limited-effect defence equipment and technologies, developing and manufacturing rubber bullets, tear gas grenades, electroshock devices, and pyrotechnic products in more than 80 countries around the world. (portfolio.hu; novekedes.hu; mfor.hu; economx.hu; magyarnemzet.hu)
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28th August, 2025
Wizz Air shifts focus back to Central and Eastern Europe
Wizz Air is redirecting capacity from the Middle East to Central and Eastern Europe, CEO Jozsef Varadi told Penzcentrum in an interview published on Wednesday.
The carrier, which has exited the Abu Dhabi market, will expand operations at a second airport in Bucharest and Warsaw and open a new base in Bratislava. The aim is to lift its regional market share from roughly 25% to above 30%.
Varadi described the summer of 2025 as “incomparably better” than last year, noting almost no cancellations and stronger punctuality. Spare aircraft, crew and parts were added to reinforce operations.
Wizz Air resumed flights to Israel in August, citing strong demand and acceptable safety, but Varadi ruled out any return to Ukraine until a ceasefire or the end of the war.
The company’s passenger volumes are still expanding by 10-12% a year, though growth targets have been tempered by the grounding of Pratt & Whitney engines, a constraint likely to weigh on operations for another one to two years. (penzcentrum.hu; portfolio.hu)
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28th August, 2025
Heads roll at SAP Hungary amid alleged sex scandal
CEO Szabolcs Pinter of SAP Hungary has stepped down with immediate effect, the software company confirmed to Telex.
Index reports that not only Pinter but the entire senior management of the Hungarian unit of the German-owned firm have also been dismissed in a case that involves prostitutes at a SAP event
The dismissals follow an internal investigation launched across the group after a sexual-abuse case surfaced in the US last year, which led to the dismissal of two senior executives.
No abuse was reported in Hungary. However, internal correspondence revealed troubling references to a company event, prompting the leadership change, Telex writes.
SAP declined to comment on “rumours and speculation regarding personnel or event decisions”.
Pinter joined SAP in 2007 and became chief executive of the Hungarian subsidiary in 2019.
Allegedly prostitutes and drug use may have featured at one of the firm’s conferences, Index adds. (telex.hu; index.hu; forbes.hu; portfolio.hu; economx.hu; mfor.hu)
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28th August, 2025
Erste pulls Budapest Pride imagery from advertisement
Austria’s Erste Group has removed a segment from its latest AI generated commercial that placed Budapest Pride alongside historic milestones such as the fall of the Berlin Wall.
The video dramatizes defining European moments, from Joan of Arc’s battles to the Prague Spring of 1968 and Marie Curie’s scientific discoveries.
“Understanding and respecting Erste Bank Hungary’s request, we are replacing those segments that do not mean the same thing to all Hungarians and that could be better represented by other historical events in Hungary”, a company spokesperson told Telex.
The original advertisement still remains available in “non-public” form on the bank’s website. (telex.hu; 24.hu; nepszava.hu; index.hu; 444.hu; hirado.hu)
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28th August, 2025
Property sale boosts Raba profits
Raba’s second-quarter profit surged, buoyed by a one-off gain from real estate sales, though modest signs of stabilisation in its core operations are emerging, Portfolio sums up.
After-tax profit, including the property sale, reached Ft 2.1 billion, up from a Ft 258 million loss in the same period last year.
Group sales were broadly stable at Ft 14.3 billion, down just 0.8% from the prior year.
Three of Raba’s four manufacturing subsidiaries posted higher turnover, but Raba Vehicle Parts, operating in the passenger car segment, saw sales decline 16.9%.
One-off proceeds from real estate totalled Ft 2.6 billion, lifting operating profit to Ft 2.7 billion.
Including this item, ebitda reached Ft 3.5 billion; without it the adjusted ebitda rose from Ft 183 million to Ft 824 million. (portfolio.hu; economx.hu)
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