VOL. 32. NUMBER 23 | DECEMBER 13, 2024 – JANUARY 9, 2025
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SPECIAL REPORT INSIDE THIS ISSUE
Deals of the Year
2024 Saw Hungary’s Largest Business Deal to Date This year saw an even bigger staterelated transaction than the 2023 deal to acquire Vodafone Magyarország, albeit one that had been in the pipeline for a long time. But it is not only the state that has been active in the M&A market in 2024. 13
Restrained Real Estate Activity the Story of the Year It remains a question when the investment market will become more liquid in Hungary after a subdued period due to numerous concerns, says the BBJ’s real estate editor Gary J. Morrell. 16
Áder Slams UN COP Process
SOCIALITE
Hungarian Artist Gabriella Kiss and the new Surrealism When Buda-based artist Gabriella Kiss began painting in a Surrealist style around 10 years ago, it raised eyebrows. With the revival of interest in Surrealism, however, Kiss’ work is now attracting admirers worldwide. 20
NEWS
Industry Finally Shows Some Vital Signs Although Hungary’s industrial production fell year-on-year in October, it was up 2% from the previous month. Nevertheless, 2024 could be the second year in a row that industrial production has fallen, and the downward trend is not expected to reverse anytime soon. 3
NEWS
Hungary’s former President János Áder lambasts the annual UN Climate Conferences as a “circus” and argues their role should be taken by the G7 or G20 to achieve meaningful success. 6 BUSINESS
Hungary Aims to Host the Region’s Leading Tech Summit Budapest became the epicenter of Central Europe’s technological innovation as Techxpo 2024 opened its doors at the Millenáris from Nov. 21-24 to industry leaders, government officials, and tech enthusiasts. 10