Diplomacy&Trade 2021 August by Diplomacy&Trade

AUGUST 2021 HUF 1710

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HUNGARIAN FORINT: INTRODUCED 75 YEARS AGO… … BUT HOW LONG BEFORE REPLACED BY THE EURO? SEE ANALYSIS ON page 10

Modern Governance Diligent Corporation, the leading modern governance company with a platform used by nearly 700,000 board directors and leaders around the globe, opened nominations for the third annual Modern Governance 100 program. The program, launched in 2019, will recognize the contributions of the world’s top governance, risk, compliance, audit and IT professionals. Diligent Corporation invested HUF 11.3 billion to establish a Center for Global Product Innovation in Budapest last year. see article on page 11

Dreher Opens Beer Workshop Dreher Breweries have built a Beer Workshop, operating independently of its historic brewhouse, to serve as creative recipe workshop as well as the home of a new Hungarian brand. The mission of the ANTL brand brewed in the workshop is to build and redefine the company’s heritage. The new brand, focusing on the hospitality sector, pays homage to its founder, Antal Dreher, with its first two beers: the Vienna Style Lager and the English Style Summer Ale. see article on page 14

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When it comes to world records, Hungarian fans are justifiably proud of their athletes. However, there is an old Hungarian world record that no one is proud of: after World War II, the country recorded the highest inflation to that date in history. The situation was consolidated with the introduction of a new stable currency, the Forint, 75 years ago, on August 1, 1946. Today, the question is how many more years before it is replaced by the common European currency. At this anniversary, our expert, a former governor of the National Bank of Hungary, is not optimistic regarding the adoption of the euro as the current state of the Hungarian economy is far from complying with the requirements (budget deficit and debt figures are too high) and the political will on the part of the current Hungarian government is also missing. Apropos, lack of optimism. It very much applies to what our international analyst has to say about the future of Afghanistan following the withdrawal of NATO (that is, mainly American) troops from the Central Asian country after two decades. He says there is quite a strong likelihood that the moment the last American troops leave, the future – with the return of the Islamic extremist Taliban – will be quite like the past, stating that Operation Enduring Freedom in Afghanistan has not been ’enduring’ and has not brought about freedom either. It will be remembered as another failed nation/state-building effort in societies in faraway lands with totally different histories, cultures, political structures and ways of life. The American Diligent Corporation that established a Center for Global Product Innovation in Budapest last year announces the ‘Third Annual Modern Governance 100 Program’ with new award categories to honor global governance, risk, compliance and audit professionals across all industries. Details are on our business page. This month, WittyLeaks is authored by the Belgian ambassador who – on the occasion that in 2022, Belgium and Hungary will celebrate the 100th anniversary of their diplomatic relations – recalls the historic ties before 1922, going back more than seven and a half thousand years(!) when tribes from what is now Hungary got as far as what is now Belgium. Going in the other direction, the best example is Walloon settlers introducing viticulture to the Tokaj wine region in medieval times. Moving on to another renowned wine region in northeastern Hungary, that of Eger, our wine page presents the 2017 St. Andrea Nagy-Eged Egri Bikavér Grand Superior, which won a ‘Best in Show’ medal at the Decanter World Wine Awards, making this Bull’s Blood one of the top 50 wines in the world. The award is considered by the St. Andrea management a shared victory for all Eger winemakers. Wishing you all a safe and pleasant summer days in Hungary or were ever your holiday travels take you!

Peter Freed PUBLISHER

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Bikavér among the Top 50 wines page 15 in the world

Belgian-Hungarian ties before the diplomatic relations

Event guide to the Hungarian capital

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contents 05 ON THE RECORD 06-07 COMPANY BRIEFS 08 ANALYSIS

Western troops leave Afghanistan 10 ANNIVERSARY 75 years of the Hungarian Forint 11 BUSINESS Diligent announces Third Annual Modern Governance 100 Program 12 WITTYLEAKS by the Ambassador of Belgium

13 WHAT’S ON

Concerts, festivals, events and exhibitions in and out of Budapest 14 HOSPITALITY Beer workshop at Dreher Breweries; Crowne Plaza opens first Budapest hotel

15 WINE ‘Best in Show’ medal for St. Andrea winery's Egri Bikavér

PUBLISHER: Peter Freed EDITOR: Sándor Laczkó PHOTO EDITOR: Dávid Harangozó SALES & MARKETING DIRECTOR: Tamás Varga ADMINISTRATION: Éva Madarász

SWISS FOCUS – COMING SOON

CONTRIBUTORS: Sándor Laczkó, Tamás Magyarics, Péter Ákos Bod, Edith Balázs, Siegfried Peinen PHOTO CONTRIBUTORS: Dávid Harangozó (Cover), Máté Czabán (cover), depositphotos.com, HungaroControl, HIPA, Staff Sgt. Kylee Gardner, Embassy of Belgium,

Diplomacy & Trade is preparing a special Focus section on Switzerland in cooperation with the Embassy of Switzerland and the Swiss-Hungarian Chamber of Commerce (SwissCham) as the Alpine country is represented in Hungary by an old-new ambassador and this August, the Swiss Federal Councilor reciprocates the visit of the Hungarian foreign minister earlier in the year. In an extensive interview, the Swiss ambassador to Hungary, Jean-François Paroz highlights some of the aspects of successful bilateral relations and the experience he can you build on from his previous tenure here between 2011 and 2015. Swiss-Hungarian economic relations have developed on the corporate level over the past year with Stadler, Roche, Nestlé, etc. hitting the news headlines with their activities. We talk to Swisscham and some of the corporate actors present themselves and their activities.

Municipality of Tállya, SpeedLight Photo Agency, Betty 1977 Oil on canvas 30 cm × 40 cm Museum Ludwig Cologne (permanent loan from a private collection, 2007)© Gerhard Richter 2021, Abstract Painting (Abstraktes Bild) 2017 Oil on canvas 200 × 200 cm Loan from the Gerhard Richter Art Foundation © Gerhard Richter 2021, Live Nation, Máté Czabán, Gergely Jancsó, Attila Busák, MTI Photos: Tibor Illyés, Balázs Mohai, Zsolt Szigetváry, Péter Komka

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letter from the publisher

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on the record HUNGARY'S ÁRON SZILÁGYI WRITES OLYMPIC HISTORY

Just like in London in 2012 and Rio de Janeiro five years ago, Áron Szilágyi won the men's individual event at the Tokyo Olympics, and with his triple victory he made sporting history. Szilágyi put up a stunning performance all day, and in the final, he produced a superb fencing display to beat Luigi Samele of Italy 15-7.

OVER 30,000 NEW CORONAVIRUS FATALITIES IN HUNGARY

ATTILA BUSÁK, MUNICIPALITY OF TÁLLYA, SPEEDLIGHT PHOTO AGENCY, DEPOSITPHOTOS.COM

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A 60-year-old man with high blood pressure and tumor who passed away on July 7 was the 30,000th on the list of COVID-19 victims in Hungary. As telex.hu noted, it is more accurate to say that since March last year, 30,000 people died with the coronavirus in their bodies. The daily number of new cases in Hungary rose again from 2,000 at the end of February to over 4,000 in a matter of days, with the number of new deaths per day almost continuously above 100 from February 18 and 200 from March 18. While the Russian Sputnik V and the Chinese Sinopharm vaccines (none of them authorized by the European Medicines Agency) put Hungary in the lead in vaccination coverage, for weeks from March until the beginning of May, Hungary was also the leader in another statistical indicator among countries with a population of over one million: the daily new death rate per million. The 30,000th fatality was reported just five days after mask wearing obligation was abolished in Hungary where – unlike in other countries –, tightening or easing pandemic restrictions are tied by the government not to the number of infected or hospitalized people but to the number of those vaccinated, this time 5.5 million. Masks no longer have to be worn in shops and on public transport, only in hospitals and social services; it is possible to enter catering establishments, accommodation, leisure facilities, and cultural events and performances with pre-booked tickets and seating without protection certificate; restrictions on shops are abolished: there is no distance rule and no limit on the number of persons per square meter; and for family events and private functions, the previous limit of 50 people was increased to 100, and for weddings, the limit of 200 increased to 400.

HUNGARIAN PM PROHIBITS AIR TRAFFIC CONTROLLERS' STRIKE

According to a government decree published in the official Hungarian Gazette at the end of July, "there is no room for a strike (…) at the organization responsible for air traffic control services", and the decree will remain in force until the end of the emergency. Signed by Prime Minister Viktor Orbán, the decree came out after a newspaper report that one of the three trade unions at the Hungarian air traffic control company HungaroControl did not accept the employer's offer for salary increase (5% for each of the next three years) and was considering strike at the Ferenc Liszt International Airport in Budapest. The union wanted to limit the number of planes landing between 12 and 15 pm every day between July 24 and 28 in protest, not affecting, among others, military flights and those carrying vaccines. Eventually, the strike was called off, according to EuroControl.

Apart from Áron Szilágyi, four of his great predecessors – Hungarians Jenő Fuchs and Rudolf Kárpáti, Viktor Krovopuskov of the Soviet Union and Jean-Francois Lamour of France – managed to defend their men's sword titles at the Olympics, but no one has ever managed to triple in the individual event. In fact, in the other men's disciplines, there has never been a anyone who has won three times in the same event in the individual competition either. "I have yet to realize what I did today to become a three-time Olympic champion in the individual event. I don't think I'm the biggest legend in this sport, but I'm certainly very proud of what I've achieved today and in the last nine years," Szilágyi said.

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ZSAZSA GABOR'S ASHES LAID TO REST IN BUDAPEST

Nearly five years after her death, part of the ashes of Hungarian-born American actress Zsazsa Gabor (originally known as Sári Gábor and the winner of the Miss Hungary title in 1936) were laid to rest in the Artists' Plot of the Fiumei Road Cemetery in Budapest this July. Prince Frédéric von Anhalt, widow of Zsazsa Gabor, in cooperation with the National Heritage Institute and the Hungarian Hollywood Council, brought some of the ashes of the world-famous actress home from America to be laid to rest in her native country, in accordance with her will. She died from sudden cardiac arrest on December 18, 2016 after which a memorial service for the artist was also held in Los Angeles. Frédéric von Anhalt, the Hungarian-born Hollywood star's ninth husband, said in his eulogy at the ceremony that the service was not a funeral but a celebration of Zsazsa Gabor's life, as the actress would have wanted. Balázs Bokor, President of the Hungarian Hollywood Council, said that Zsazsa Gabor had become a celebrity without Facebook and Instagram. "It's OK if it's not true, just talk about me," he quoted the diva's famous saying. He added that the story of Zsazsa Gabor will not end with the final resting place of his ashes. The Council considers it important to preserve the memory of the Hungarian-rooted Hollywood personality and to make her widely known, and plans to make a film about the life of Zsazsa Gabor.

Dénes Kemény, the head coach of the water polo team, when he and his players jumped into the water to celebrate their victories after winning the finals, as well as the original manuscript of Ferenc Mező's 1928 art competition Olympic gold medal and Henrietta Ónodi's own design dress in which she performed her gold medal-winning gymnastics routine. The relics come from more than 100 individuals and institutions, collected in 25 towns and villages over the course of six months. The guest of honor at the opening ceremony was five-time Olympic gold medalist gymnast Ágnes Keleti, who turned 100 on January 9 this year. The exhibition is open until October 10.

TWO HUNGARIANS INVITED TO THE AMERICAN FILM ACADEMY

Hungarian cinematographer Marcell Rév ('Malcolm & Marie', 'White God') and animation film director Réka Bucsi ('Solar Walk', 'Symphony No. 42') are among the new class of 395 artists and executives who have been invited to join the Academy of Motion Picture Arts & Sciences. Animation filmmaker Réka Bucsi is a regular guest at Berlinale. Three of her animated short films made their debut at the A list festival in Germany and she was also a jury member of the festival. This spring, she was asked by Netflix animation studio to design a scene for a fantasy musical, 'The Witch Boy'. She also has a feature-length film project, the sci-fi movie 'The Great Silence'. Cinematographer Marcell Rév has been working overseas for some time now. He has worked as a cinematographer on several of Kornél Mundruczó's films, shot the HBO hit series Euphoria with Zendaya, and photographed Ildikó Enyedi's upcoming Cannes debut, 'The Story of My Wife'.

EXHIBITION OF HUNGARIAN OLYMPIC HISTORY IN BUDAPEST

An interactive Olympic history exhibition entitled 'Our Sensational Champions – 177 Fabulous Victories' opened in Millenáris Park in Budapest in July. The exhibition commemorates the Hungarian victories in the Olympic Games so far. Among the 305 artefacts on display are three shirts worn by

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company briefs SUNGEEL HITECH HUNGARY OPENING NEW PLANT In 2019, the world-leading company established a 3,400-square-meter plant in Szigetszentmiklós as its first European investment. In its new recycling park in Bátonyterenye, SungEel Hitech Hungary Ltd. mainly utilizes the waste products of the Samsung SDI battery factory in Göd, north of Budapest, in an environmentally friendly way with cutting edge technology. Thanks to the new plant, the current annual recycling amount of 7,000 tons of discharged lithium-ion batteries and scrap metal may increase by 50,000 tons per year.

SungEel Hitech Hungary Ltd. is to expand its presence in Hungary with another battery processing plant. After the plant in Szigetszentmiklós, which was handed over in 2019, an 8,700-square-meter recycling park opened in July this year in Bátonyterenye, Nógrád County, north of Budapest. With an investment of EUR 25.75 million, 30% of which is to be covered by Hungarian taxpayers through a government decision, 100 new jobs are promised to be created. The South Korean SungEel Hitech recycles rechargeable batteries.

ALTEO AND AUTOWALLIS COORDINATE E-MOBILITY SERVICES

MONO EXPANDING IN IPOLYTÖLGYES

decor elements for premium category cars. Their clientele includes Aston Martin, Audi, BMW, JaguarLand Rover, Mercedes-Benz, Lamborghini and Porsche, for instance. MONO-Ipolyfabric Kft., which designs, develops, and manufactures premium-quality wood, aluminum, and carbon interior decor elements, is launching a multi-segment investment in Hungary. During the project, the company will expand its existing production capacity, introduce new aluminum painting technology, and set up an R&D center in Ipolytölgyes, which will facilitate product and process development for the entire group, the Hungarian Investment Promotion Agency reports.

MONO-Ipolyfabric, which designs and manufactures premium automotive interior decor elements will expand its production capacity and will set up a new R&D center at its site in Ipolytölgyes, on the SlovakHungarian border, north of Budapest. Thanks to the investment of almost EUR 17.5 million, 100 new jobs are expected to be created. The Belgian-owned Mono Group is a world-class company group engaged in the production of interior

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The vehicle importer Porsche Hungária is to establish an Innovation and Education Center in Hungary with an investment of HUF 2 billion. The cornerstone laying ceremony took place next to the company's Budaörs component center outside the Hungarian capital. At the event, László Mosóczi, Minister of State for Transport Policy at the Ministry of Innovation and Technology (ITM), praised the fact that the Hungarian importer of Volkswagen Group brands is playing its part in innovation and professional training by setting up this center. He stressed that the Hungarian government's intention is to steadily increase the share of research and development capacity in new investments in the sector. The Managing Director of Porsche Hungária, Balázs Németh, said that the HUF 2 billion investment will be carried out by the company from its own resources. The innovation center will be home to the importer's training and technical education, primarily for the 1,000-strong sales and service staff. It is planned to provide more than 2,000 training days per year to the network of authorized car repairers. Porsche Hungária is thus actively supporting vocational training in the automotive industry. The investment will enable Porsche Hungária to expand its multifunctional training capacity. The center, which will be completed next year, is expected to create 5-10 new jobs in the company in the field of education. Balázs Németh also said that the Volkswagen Group is committed to greening and that by 2030, 50% of its vehicle sales will be electric vehicles. To this end, the company is introducing new models every year. Porsche Hungária is one of Hungary's largest importers of motor vehicles with 74 service points and 95 sales outlets. Its sales revenue in 2020 was HUF 361 billion, up from HUF 403 billion a year earlier. After-tax revenue was HUF 4.7 billion in 2020 and HUF 2.3 billion in 2019.

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PORSCHE HUNGÁRIA INNOVATION AND EDUCATION CENTER

Hungary in the first half of this year than in the same period last year, experts say that this growth should be followed by an increase in the charging infrastructure. "E-mobility is becoming part of our everyday lives and vehicle charging is increasingly linked to investments in sustainability and energy efficiency," Dénes Novotny, head of ALTEO's e-mobility business said. According to the expert, charging at home and at work is the most convenient way to charge vehicles, but it can only be truly costeffective if charging equipment is deployed as part of a sustainable solution. ALTEO's stand-alone charging equipment operation and e-mobility services business, ALTE-GO, offers sustainable solutions for the construction and operation of electric charging equipment, covering the full range of services required for e-mobility.

Two Hungarian companies, the energy service provider firm ALTEO and the vehicle importer AutoWallis have signed a strategic cooperation agreement to coordinate their e-mobility services in the future. The agreement between the two firms is based on their commitment to sustainable and transparent operations and the transition to a green economy. The agreement also covers the sale of innovative energy solutions for charging e-cars. The cooperation agreement between the two companies, which are listed in the Premium category of the Budapest Stock Exchange, will further strengthen the spread of electric car use in Hungary and green mobility services in general. ALTEO and AutoWallis will also support the development of the market by developing charging infrastructure and further strengthening the distribution of e-cars. While nearly 50% more electric vehicles were registered in

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company briefs

RECORD HALF-YEAR AT BUDAPEST AIRPORT CARGO TRAFFIC

Air cargo continues to boom at Budapest Airport; the aerodrome handled 86,798 tons of cargo during the first six months of 2021, which is the strongest half-year ever in its history. Thanks to the record half-year, cargo volume projected over 12 months also jumped to unprecedented heights, the airport management company reports. The airport handled 15,233 tons of air cargo in June 2021, which constitutes 52.6% growth from the same month of 2020 and 41.2% compared to the same period in 2019. Thanks to consecutive months of outstanding cargo figures, volumes reached an unprecedented level during the first half of this year as well; 86 798 tons of cargo passed through Budapest’s Ferenc Liszt International Airport from January to June 2021, which is 35.9% more than during the first six months of last year. The dynamic growth in cargo not only produced a record half-year, but also a record 12 months; during the period from June 2020 to July 2021, the airport crossed the dream threshold of 150,000 tons, taking another huge step towards becoming the air cargo hub for the region. Chris Dinsdale, the CEO of Budapest Airport emphasized in connection with the results that “this is the first time in its history that Ferenc Liszt International Airport has crossed this threshold. Performance over the past 12 months confirms our belief that the cargo business is of key importance for us, and the Cargo City, handed over last year, is indeed able to energize and encourage freight forwarders to use Budapest Airport for air freight, which is a very attractive solution for the collection and distribution of air cargo.”

WHC Group, one of the leading temporary placement and recruitment companies of the country, expands its activities in Debrecen, Eastern Hungary. According to a statement by the company, the economic activity of Debrecen and its region is developing dynamically, a number

This year's World Overeating Day (the date by which mankind has used up the Earth's natural resources for a year) fell on July 29 and served as a wake-up call for the consumerist lifestyles. It was on that day that the Worldwide Fund for Nature (WWF) and the retailer chain Tesco launched a unique collaboration to promote affordable and sustainable food consumption in the Czech Republic, Hungary and Slovakia in the long term. “This means that we need 1.7 Earths to sustain our current way of life, while we only have one planet. So, if we want to secure our future, we need to change the way we live,” a joint statement by the two organizations points out. It adds that “the size of our ecological footprint is fundamentally determined by how we produce, distribute and consume food. Today, the impact of food production from farm to fork is responsible for the largest share of greenhouse gas emissions, while 40% of food produced ends up in the bin. Internationally, 10% of greenhouse gas emissions are attributed to food waste, and food production is a major contributor to biodiversity loss. In East-Central Europe, around 61.5% of natural habitats are under the influence of agriculture.” Tesco and WWF are therefore now working together to raise awareness of sustainable food consumption habits and to promote healthy living and reduce the environmental impact of food. "Our food supply is based on nature, but nature is in trouble. Today, World Overeating Day draws attention to the fact that we are literally consuming our future - and much of the problem is caused by the food we grow and eat. That's why I welcome WWF's partnership with Tesco, one of the leading retail chains in Hungary, Slovakia and the Czech Republic, with the common goal of promoting a shift to sustainable and affordable everyday food consumption in these countries," according to Andreas Beckmann, WWF Director for Central and Eastern Europe. Commenting on the cooperation, Matt Simister, Tesco's CEO for Central Europe, said he was "delighted that WWF's expertise and dedication will now be supporting our work. We share a common goal of reducing the environmental impact of food and helping the transition to more sustainable food consumption and production. Food choices are key to our health and the health of the planet, and our customers expect us to support them in making these choices. Our partnership with WWF is helping to promote more sustainable food consumption by raising awareness of healthy alternatives and encouraging change from farm to table."

of new job-creating investments have arrived and will arrive in the city in the near future, all of which are projected to establish 20,000 new jobs in the county seat by 2030. Responding to the revival of the regional labor market, WHC Group, one of the leading HR services companies of Hungary, being already active in a total of five countries, opens its 9th Hungarian office in Debrecen. In addition to Hajdú-Bihar county, the

new branch office will also serve the companies of neighboring Szabolcs-Szatmár-Bereg and Borsod-Abaúj-Zemplén counties. The Hungarian-owned WHC Group, being active in Austria, Serbia, Slovakia, and Ukraine in addition to Hungary, has opened its newest office in the Debrecen in response to the growing labor market needs of companies present or appearing later in the region. “Serious investments have been and will be carried out in the near future in Debrecen, which will pull the economy of the whole region with them. Thanks to the dynamic development, thousands of new jobs will be created in the coming years, which will fundamentally reshape the labor market in the region. WHC Group is currently working with a number of large companies, mainly in the automotive, electronics and other machinery industries in the region, and we also support the HR activities of several small Diplomacy-n-Trade.ai 1 2017. 27. 11:22:30 and medium-sized companies. We02.considered

it reasonable to serve our existing and future customers locally with a local team in the future, thus making our activities more efficient,” highlighted Benedek Tóth, Branch manager of WHC Group. As Viktor Göltl, the Group’s Managing Director added, “one of the cornerstones of WHC Group’s strategy is to serve our clients, as far as possible, directly through our local representative offices in each region, thus ensuring the required flexibility and efficiency. It is a great achievement that we are now opening our ninth Hungarian office in Debrecen, thus further strengthening our decisive role in the domestic market. This Debrecen office will provide services to our local partners primarily in the field of temporary employment, physical labor placement, student, pensioner, and intellectual labor placement. Our further plans include opening a local office in Veszprém this year, which is justified by the revival of the economic activity in the region.”

CMY

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BUDAPEST AIRPORT/RÓBERT BARANYI, WWF, NORBERT PORCIÓ/TRILITE STUDIO

WHC GROUP EXPANDS IN DEBRECEN

TESCO-WWF PARTNERSHIP FOR HEALTHY FOOD CONSUMPTION

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analysis

DEJA VU ALL OVER AGAIN? OPERATION ENDURING FREEDOM: NOT ’ENDURING’ AND HAS NOT BROUGHT ABOUT FREEDOM

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The U.S. intervention in 2001 after the terrorist attacks against targets in New York City and Washington, D.C. was absolutely justified legally, politically, and militarily. However, the original plan to destroy the local al-Qaeda, which was responsible for the attacks, was soon converted into a nation/state-building effort, though the idea was not to impose a ’Jeffersonian democracy’ on a society which – using Robert Cooper’s categorization – can best be described as a premodern society. It is a complex, and for outsiders, an almost impenetrable web of religious and ethnic relations. For instance, the Pashtu, who comprise some 59% of the total population, are far from unified, despite the fact that they are frequently lumped together; there are at least two major factions which are at each other’s throats. Besides them, the major ethnic groups are the Tajiks (27% of the total population), Uzbeks (9%). To make matters even more complicated, the latter two of these groups have a ’mother country’ over the northern borders of Afghanistan, while millions of Pashtu live in Pakistan – which, by the way, is one of the major players in this new ’game’.

Fragmented power centers

The American goodwill of installing democratic institutions, stable central government, a sort of civil society, women empowerment through, among others, education, all seem to have been a ’one size fits all’ approach designed by bureaucrats in the American capital.

The 20-year-long mission is not accomplished in the sense of eliminating al-Qaeda either. The Islamic organization and its rival, the Islamic State of Khurasan Province are back in Afghanistan (if ever they left it at all). It is more than questionable whether the leftover U.S. forces and the Afghan security forces will be able to contain them. As for the Afghan central authority, it is much of the same as the one under Hamid Karzai, who – according to contemporary widely shared opinion – was just not more than the mayor of Kabul in reality. The individual warlords in the different provinces are the ones who actually call the shots, and if their interests should dictate to reconcile or even support the Taliban, they would do it with an exception of one or two.

Back to the past There is quite a strong likelihood that the moment the last American troops leave by September 11, 2021, the future will be quite like the past. The Taliban are bound to reintroduce the Sharia law over the areas which are under their control; in fact, they intend to take Kabul sometime later, and turn the whole country into an Islamic Emirate. The genie of elections, education for women and the like is likely to be put back into the bottle. If one can believe the reports, the Taliban have already reintroduced harsh punishments (beheading, etc.) against their perceived enemies. It seems more than possible that they regard the Doha agreement only as a tactical compromise; one also suspects that the Americans are also very much aware of the true designs of the Taliban, and the Doha deal for them is just a face-saving step.

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Failed mission not to be repeated

It is not an extremely bold statement that Operation Enduring Freedom has not been ’enduring’ and has not brought about freedom either. Afghanistan has raised the specter of Vietnam with some differences. The goals were more or less the same, to help build a westernstyle stable government in South Vietnam and Afghanistan respectively. In both cases, the real or underlying purpose was to deny the perceived strategic enemy, Communist North Vietnam (and, by extension, international communism), and transnational terrorism countries, which were deemed important for U.S. national security. The U.S. failed in both cases. The difference is that the war in Vietnam claimed many more victims on both sides than the armed conflict in the Central Asian country. The difference might also be that international communism was a much more dangerous and strategic challenge than the one posed by al-Qaeda and international terrorism, which is arguably not a strategic threat at all. In both cases, one of the issues at stake was the credibility of the U.S. Again, giving up the war in Vietnam had more widespread global repercussions than leaving Afghanistan; radical Islamism does not have such an appeal now than communism enjoyed in the 1960s and 1970s. The preparations for the evacuation of locals who were working for or cooperating with the Americans are more thoughtful in Afghanistan than in Vietnam: we are not likely to see people fighting to get aboard helicopters which take them to safety from the vengeance of the enemy in the very last minute. The U.S. Congress has authorized the issuance of 7,000 visas, and the number of Afghans who are allowed to leave for the U.S. is expected to be altogether much higher. A similar enterprise like Afghanistan (and Vietnam) is not conceivable in the near future, or even in the medium term. The U.S. was fooled once in Vietnam, was fooled for the second time in Afghanistan (and Iraq); shame on its decision makers if it is fooled into a similar costly nation/ state-building efforts in societies in faraway lands with totally different histories, cultures, political structures, and ways of life in the future.

STAFF SGT. KYLEE GARDNER

In modern history, first it was the British and the Russians who had wished to rule Afghanistan in the contest known as ’The Great Game.’ Both failed after much bloodletting. The Soviets made another attempt to subjugate Afghanistan in the 1980s – and they were also forced to retreat with heavy losses. Then, it was the turn of the United States in 2001 and – surprise, surprise – the Americans had to admit after 20 years of efforts which claimed the lives of thousands of American troops, tens of thousands injured – some of them remain disabled physically and psychologically for life –, while hundreds of thousands of Afghans got killed or injured, while possibly millions have been dislocated. However, this balance sheet has almost taken us back to square No. 1: the Taliban, according to some estimates, control 85% of the territory. Arguably, it is only a matter time when it becomes 100% – formal and informal rule of the Taliban. So, is it possible that Yogi Berra is right, and the legions of politicians, strategists, military men and women are wrong?

Religious and ethnic complications

Tamás Magyarics is a foreign policy analyst

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BY TAMÁS MAGYARICS

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TAKENAKA EUROPE GmbH HUNGARY BRANCH OFFICE Architecture / Engineering / Construction www.takenaka.eu info@takenaka.hu

ASPIRING TO FINE FORM

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anniversary

HARSH DECADES OF THE FORINT HUNGARIAN CURRENCY ISSUED 75 YEARS AGO MAY HAVE A BUMPY ROAD AHEAD

Poor government tool Concerning monetary sovereignty, officials may declare that having a national currency is good for the country, yet sovereignty is, in fact, an illusion for a small, financially open, trade-dependent economy, such as middleincome Hungary with less than ten million inhabitants. Keeping a local currency is a source of additional risk to businesses and the public; just see how volatile is the external value of HUF, a floating currency exposed to all sorts of shocks. A fragile and inflationary currency is a poor government tool in times of crisis.

Losing purchasing power History proves that the value of the Forint throughout its existence has been shaped by both domestic politics and external events. Back in 1946, the Forint was declared to have an 11.74:1 exchange rate to USD under nominal gold content but, as Hungary remained outside the IMF and the Marshall Aid, it soon suffered a deep depreciation. Under decades of central planning, with artificial prices and frequent shortages, the Forint kept losing its purchasing power. Price liberalization during the regime change led to a further wave of price increases, yielding a 100 HUF/USD rate by 1993 (today, a US dollar costs HUF 300). Yet, the fact that we managed to avoid hyperinflation during the transition years, partly explains the lack of strong domestic pressures to drop Forint and adopt euro.

It was on August 1, 1946 that the National Bank of Hungary introduced a new currency, the Forint. The move came as after World War II, Hungary experienced the largest inflation to that date in world history. The new currency was issued to deal with a situation that had become unmanageable.

Far from compliance with EUR requirements The simplest point of departure is that Hungary doesn’t meet the so-called Maastricht criteria of euro adoption. The consumer price index is now about 5%, against 2% Eurozone average; budget deficit and debt figures are too high; HUF has not yet entered the Exchange Rate Mechanism in which a candidate currency must spend two years without stress. The European Central Bank may find some faults with the Hungarian

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No political intention And here start the complications. At present, there seems to be no political intention to replace the Forint. Well before the EU accession in 2004, it was understood in policy circles that Hungary would be among the first to adopt euro. However, fiscal policy slippages starting in 2001 forced consecutive governments to postpone the original 2006 date to 2008, and later to 2010. Then came the 2008 financial crisis that hit indebted Hungary particularly hard; the euro adoption process was quickly forgotten. It became clear soon that the incoming Orbán government had no intention whatever to give up ‘monetary sovereignty’. The new one-party constitution (‘Basic law’) of 2011 pointedly referred to Forint as the legal tender of Hungary – with the effect that a parliamentary supermajority would be needed to remove that section when a new government manages to fulfil the EZ entry tests.

Still a political choice Right now, we are in an intermediate situation: Hungary has no EZ target date, the currency is inflationary, Hungarian banks remain outside the protective cover of the Banking Union. One of the common themes of policy statements of opposition parties is to bring Hungary into the EZ, conditions permitting. Currency regime, at the end of the day, is a political choice. The elections of 2022 may be crucial also in this respect. Yet, given Hungary’s budgetary situation and inflationary trends, it will take time to say goodbye to the Forint.

part of the European core. In Hungary, in contrast, no such consensus has been forged. The euro issue has mostly remained a professional topic, defined in economic cost-benefit terms. Yet, it is noteworthy that, despite the euro-sceptic language of the official media, the general public is still predominantly in favor of adopting the euro. The attitude of the present management of the central bank (MNB) is rather skeptical in this respect. Instead of trying to fulfil the Maastricht criteria, MNB – and occasionally the prime minister – propose new and harder entry tests (“we join when our GDP/ capita is higher than x% of EU average”) – a not too subtle way of saying no to euro adoption.

Prof. Péter Ákos Bod is a former governor of the National Bank of Hungary

The public is in favor

DÁVID HARANGOZÓ

Seventy-five is not a round anniversary, yet, the fact that a new currency was successfully introduced to replace the hyperinflationary Pengő in war-torn, semisovereign Hungary in August 1946 provides an opportunity to look back at the history of the Forint (HUF). Still, amidst the celebration, obvious questions arise. Hungary, an EU member since 2004, with an economy highly integrated into European production chains, surrounded by countries using or preparing to use euro, remains outside the Eurozone (EZ) – why? Back in the 1990s, the then candidate countries regarded the adoption of the common European currency as part of their membership package; it was understood in the capitals that no member state may indefinitely retain the national currency. Thus, how long will the Forint exist as a legal tender?

central banking law. Honestly, Hungary is not ready yet to make good on the obligation to enter. No target date for entry is declared.

Thus, euro is not at the corner for Hungary, as it stands now. Hesitation and second guessing about the pros and cons of adopting the euro have been common in the region. The crucial factor is political will. Countries that have entered EZ so far had early reached national consensus on euro adoption and, in some way, becoming

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BY PÉTER ÁKOS BOD

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business

DILIGENT ANNOUNCES THIRD ANNUAL MODERN GOVERNANCE 100 PROGRAM

NEW AWARD CATEGORIES TO HONOR GLOBAL GOVERNANCE, RISK, COMPLIANCE AND AUDIT PROFESSIONALS ACROSS ALL INDUSTRIES

Diligent Corporation, the leading modern governance company with a platform used by nearly 700,000 board directors and leaders around the globe, opened nominations for the third annual Modern Governance 100 program. The program, launched in 2019, will recognize the contributions of the world’s top governance, risk, compliance, audit and IT professionals. U.S.-based Diligent Corporation is the pioneer of modern governance, empowering leaders to turn effective governance into a competitive advantage. Leveraging unparalleled insights from a team

of industry innovators as well as highly secure, integrated SaaS technologies, Diligent’s industryleading suite of solutions changes how work gets done at the executive and board levels. As the largest governance, risk and compliance

(GRC) SaaS provider, the company is serving more than one million users from over 25,000 organizations around the globe. Its modern GRC platform ensures boards, executives and other leaders have a holistic, integrated view of audit,

risk, information security, ethics and compliance across the organization. Diligent brings technology, insights and confidence to leaders so they can build more effective, equitable and successful organizations. It empowers 79% of the Fortune 500, 90% of the FTSE 100 and 83% of the ASX 200 companies to improve their bottom line, to keep pace with stakeholder expectations and to create a lasting, positive impact on the world. The company announced earlier this year that it signed an agreement to acquire Galvanize, a global leader in SaaS governance, risk, and compliance (GRC) software. The Galvanize transaction follows Diligent’s planned acquisition of Steele Compliance Solutions, Inc. (‘Steele’) a leader in ethics and compliance SaaS, which the Company signed in February 2021.

Modern Governance 100 The Modern Governance program was initially launched in 2019 to honor 100 exemplary governance leaders. The 2021 Modern Governance 100 will recognize the contributions of the world’s top governance, risk, compliance, audit and IT professionals. The governance leaders are awarded for their efforts in switching their organizations toward greater diversity, sustainable practices and digital transformation. This year, Diligent has evolved the Modern Governance 100 program by introducing six new categories highlighting important achievements in key areas. The new categories are: ESG & Diversity Trailblazer, Digital Transformation Innovator, Cyber Risk Leader, Driver of Audit Excellence, Risk & Compliance Visionary and Outstanding Community Ally. “Honoring the leaders that demonstrate good governance and all of the hard work that goes into pushing their organizations forward is one of my greatest privileges,” said Brian Stafford, CEO of Diligent. “To continue to support their efforts, we have evolved our technology to ensure our customers have the right data and insights to keep the board informed while navigating all of the complexities of leadership to thrive in their roles.” Recipients for the Modern Governance 100 will be selected by an expert panel of judges and announced during Diligent’s Modern Governance Summit on September 14, 2021. The Summit will bring together governance, risk and compliance professionals across all industries to explore key issues like digital transformation, stakeholder capitalism, climate action and sustainability, diversity and inclusion, and more.

Diligent in Hungary

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DEPOSITPHOTOS.COM

Diligent Corporation invested HUF 11.3 billion to establish a Center for Global Product Innovation in Budapest last year. Initially, the company said it would create 300 jobs with the investment. At the time of the announcement, Minister of Foreign Affairs and Trade Péter Szijjártó said that U.S. businesses are the second-biggest foreign investors in Hungary after German companies, with about 1,700 American-owned companies employing more than 100,000 people in the country. The new center is designed to help facilitate Diligent’s scalable long-term global product growth through greater collaboration between the product and technology teams. The company chose Szervita Square Building, a prime location in the heart of the Hungarian capital to open its new center. w w w . d t e u r o p e . c o m

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witty leaks WITTY

IN THIS SERIES, DIPLOMATS SHARE PERSONAL ACCOUNTS OF THEIR EXPERIENCES ON “EXCURSIONS” into Hungarian culture, art, gastronomy & scenery.

LE A K S ‘HUNGARIANS’ IN ‘BELGIUM’ FOR 7-8,000 YEARS… BELGIAN-HUNGARIAN RELATIONS BEFORE THE START OF DIPLOMATIC RELATIONS IN 1922 BY THE AMBASSADOR OF BELGIUM, SIEGFRIED PEINEN

Focusing on trade

In 2022, Belgium and Hungary will celebrate the 100th anniversary of their diplomatic relations. A joyous event that will certainly be a great opportunity to highlight the many bonds that unite our two countries in so many different ways. Badacsonytördemic (at Lake Balaton), we learn more about the visit of Queen Marie-Henriette (Maria-Hendrika), wife of the King of the Belgians Leopold II. She arrived there in 1871 in an ox-drawn carriage and had a pleasant time during her visit. For example, we read that she participated in a picnic there, played guitar and sang Hungarian songs. The foundation of the village of Badacsonytördemic still maintains good relations with the Belgian Embassy. They jointly inaugurated a memorial plaque there on August 30, 2012. Not only are there footprints of the Belgian monarchy in Hungary, the reverse is also true. The Cathedral of Saint Michael and Saint Gudula (in Brussels) has many references to the Hungarian branch of the Jagellonian royal family. In the southern transept of the cathedral, for example, we find the stained-glass window by Jean Haeck (after a drawing by B. Van Orley) dating from 1538. It shows Louis II of Hungary together with his wife Mary of Hungary, sister of Charles V, kneeling before a Trinity with St Louis and the Virgin Mary with Child.

Introducing viticulture

Royal relations In the same Early Modern Age, Mary of Hungary (Queen consort of Hungary and Bohemia in the 16th century) also governed the Netherlands. She was born in Brussels and made it a capital city. In Hungary’s 17th century liberation of the Turks, several Belgian generals participated (for example: Mansfeld, Bucqouy) as well as

BELGIAN-HUNGARIAN PLAQUE IN BADACSONYTÖRDEMIC IN REMEMBRANCE OF QUEEN MARIE-HENRIETTE'S VISIT

Literature and industry

Walloon gunners. The eighteenth and nineteenth century saw Belgians do the draining of the Hungarian Bánát swamps. Furthermore, the daughter of Archduke Joseph (Palatine of Hungary), Marie-Henriette of Austria-Hungary, became the wife of Belgian King Leopold II. Hungary’s 1848 failed revolution initiated Hungarian refugees, whom were warmly welcomed by Belgium among other countries. In the annals of the village church of

Famous Hungarian politicians-writers József Eötvös and Miklós Jósika both spent time in Belgium during the middle of the 19th century. The latter even moved to Brussels and wrote for local Belgian newspapers. Additionally, Belgian monetary capital was vastly present in Hungary during this period. Properties, (coal) mines and railway construction all serve as examples. In the 20th century, Hungary served as a foreign market for Belgian, to name but a few, weapons and (electrical) machines export.

The Belgian uprising of 1830-31 was a success, but the Hungarian 1848 ultimately ended in failure. In 1851, Kossuth was enthusiastically welcomed by many Belgians. His mother died in Brussels in 1852. The Belgians welcomed the Hungarian refugees of '48. József Eötvös spent his holidays in Ostend in 1852-53, and Miklós Jósika spent his emigration there, writing for local newspapers.

Indirect contacts before making ties formal The above gives the impression that, despite official bilateral (diplomatic) relations had not yet been initiated, numerous bilateral contacts already existed. The overarching geopolitical situation of the 19th century however, attached Hungary to Austria and prevented Belgium from attaching to any great power. Belgium did, nevertheless, have formal relations with Austria through representation in Vienna since 1833, which likely enhanced certain bilateral relations between Belgium and Hungary long before the official start of Belgian-Hungarian diplomatic ties.

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Moving on to the Medieval period, it is known that Flemish and Walloon peasants settled in the areas of certain Hungarian villages, introducing viticulture. One such example is the Hungarian village of Tállya, in the Tokaj wine region. Said village was likely inhabited by Walloon settlers, with the name of the village coming from the French word taille (‘cutting’, referring to aspects of viticulture). Additionally, Flemish painters in the (later) Medieval and early New Age reportedly had a significant status in Hungary. During this period, Flemish paintings and wall rugs were brought to Hungary in great amount, unfortunately these have been lost for a long time.

Revolutions

VINEYARDS IN TÁLLYA, NE HUNGARY

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EMBASSY OF BELGIUM, MUNICIPALITY OF TÁLLYA

One cannot help but wonder what happened before 1922. Our bilateral interactions and contacts between what are now Belgium and Hungary, have been going on for centuries. The very first of such interactions even go back to about 5,700 BC, with the Barchykephal tribe making their way from modern day Hungary’s Kárpát-medence (Carpathian Basin) to the area of what is now Belgium.

Belgium, after having declared independence in 1830 and after having been granted independence at the conference of London (1830) on the condition of “eternal lasting neutrality” could not (politically) align itself. Consequently, it focused its foreign policy on the commercial, trade and economic by for example searching for colonies and (consumer) markets. Nonetheless the King, namely Leopold I, still had a significant influence on political aspects of the foreign policy. Early results of Belgium’s foreign policy are Trade Agreements with the Netherlands (1846) and the United States (1845).

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photo by SPEEDLIGHT PHOTO AGENCY, BETTY 1977 OIL ON CANVAS 30 CM × 40 CM MUSEUM LUDWIG COLOGNE (PERMANENT LOAN FROM A PRIVATE COLLECTION, 2007)© GERHARD RICHTER 2021, ABSTRACT PAINTING (ABSTRAKTES BILD) 2017 OIL ON CANVAS 200 × 200 CM LOAN FROM THE GERHARD RICHTER ART FOUNDATION © GERHARD RICHTER 2021, LIVE NATION

what's on WORLD TOURING CAR CUP (WTCR) AUGUST 21-22 AT THE UNGARORING

The World Touring Car Cup first arrived to the Hungaroring in 2011, attracting huge crowds year after year, thanks to the spectacular side-by-side battles and the Hungarian drivers in the series. The Hungarian round is known for the best atmosphere and the biggest support from the stands. Mostly thanks to Norbert Michelisz, who claimed the championship trophy in 2019 achieving the biggest international success of Hungarian motorsport. Several young Hungarian drivers started to follow Michelisz’s footsteps, like Attila Tassi competing in a factory team and the talented young drivers of Zengő Motorsport. PURE ETCR is the world's first all-electric, multi-brand touring car championship, and uniquely gives the world's biggest and best-known brands the opportunity to compete for the official manufacturer title. Not only are the cars brand new, but so is the event itself, with a Hungarian team and driver on the grid. To get the maximum out of the high-powered 500kW PURE ETCR vehicles, each car must compete in a short, sharp, wheel-to-wheel battle, each driver must push their car to the limit without conserving energy. In the PURE ETCR series weekend, there will also be an electric car exhibition at the spectators’ area.

hungaroring.hu

GERHARD RICHTER. TRUTH IN SEMBLANCE

FROM AUGUST 27 IN THE MUSEUM OF FINE ARTS

– HUNGARIAN NATIONAL GALLERY Budapest is hosting an exhibition of works by the world-renowned contemporary German master Gerhard Richter, who turns ninety next year. Entitled Gerhard Richter. Truth in Semblance, the show is the artist’s first comprehensive exhibition in Hungary, featuring almost 80 works from Hungarian and international public and private collections, and representing every period in his career. The works range from his iconic photo-paintings of the 1960s, through the color-rich abstract pieces for which he is perhaps best known, to his most recent, intimate pencil drawings. The latter were produced after his announcement in the autumn of 2020 that he had finished his painted oeuvre – a fact that lends the Budapest show particular significance, according to the website of the National Gallery. Gerhard Richter. Truth in Semblance is the fourth in the series of exhibitions organized by the Museum of Fine Arts – Hungarian National Gallery, Budapest to showcase the trends in German art since 1945. The series began in 2012 with Material Becomes Picture, presenting the works of Günther Uecker, and continued in 2014 with an exhibition of works by Jörg Immendorff, entitled Long Live Painting! The third artist included in the series was Georg Baselitz, whose exhibition Preview with Review was held in 2017.The aim of the Hungarian National Gallery is to present to the public the diverse art phenomena and defining trends in Germany since World War II by focusing on the most emblematic and internationally celebrated figures from the German art scene.

mng.hu

SABATON

MARCH 13, 2022 IN THE BUDAPEST ARENA

In Spring 2022, SABATON will be visiting 26 cities in 17 countries, bringing their groundbreaking modern metal to the people and delivering breathtaking live shows in a setting that will once again set new bars for concerts of this kind. Good news for Hungarian fans is that the brand new ‘The Tour To End All Tours’ will stop in Hungary: SABATON will be live at Budapest Arena on Sunday, March 13, 2022, will be supported by Mongolian rock band THE HU and Finnish heavy metal veterans LORDI. SABATON is undoubtedly one of the most important modern heavy/power metal bands today, rising to the top with confident speed. Their latest album, ’The Great War’, has reached the Top Ten of the charts in 11 countries, and the number one spot in Switzerland, Germany and Sweden. SABATON have spent the period of closure working hard, resulting in this grand tour; and a new album, which has been in the works since February.

livenation.hu

BULLET FOR MY VALENTINE FEBRUARY 13, 2022

BARBA NEGRA MUSIC CLUB Since Bullet For My Valentine formed in 1998, the Welsh metallers have become one of the most popular bands in metal, selling over three million albums worldwide as well as defining British metalcore with their now classic debut album ‘The Poison’. Following the success of their last album, 2018's Gravity, the band announced their selftitled, seventh album, ‘Bullet For My Valentine’. It will be released on October 22, 2021 as the band’s heaviest, fiercest album so far. They have created an album that will cement their place at the very top of modern British metal. This time, the band went back to basics. Bullet For My Valentine is packed with wailing solos and huge riffs that will delight fans old and new. Hungarian fans will get the chance to hear the new music live on February 13, 2022 in Barba Negra in Budapest!

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hospitality

DREHER BREWERIES OPENS BEER WORKSHOP

THE MISSION OF THE NEW ANTL BRAND BREWED IN THE WORKSHOP IS TO BUILD AND REDEFINE THE COMPANY’S HERITAGE Dreher Breweries have built a Beer Workshop, operating independently of its historic brewhouse, to serve as creative recipe workshop as well as the home of a new Hungarian brand. The ANTL brand, focusing on the hospitality sector, pays homage to its founder, Antal Dreher, with its first two beers: the Vienna Style Lager is a modern interpretation of the beer style that earned Antal Dreher, the moniker ‘Beer King’, close to two hundred years ago, and the English Style Summer Ale recalls his study trip to England, which led to the knowledge sharing that came to characterize Dreher.

More freedom to experiment In Dreher’s iconic neoclassical brewhouse, a single brew means hundreds of hectoliters of beer, while in the old barrel filling building where the Beer Workshop is located, one brew is just a few hectoliters. The smaller size of the equipment

and greater flexibility of the technology gives the brewery team more freedom to experiment. "From its founding day, the history of Dreher Breweries has been one of continuous innovation. First, it was using the Kőbánya cellar system and, uniquely for its day, the artesian wells, to produce the lager beer invented by Antal Dreher. Then, the early use of steam and cooling technologies, and later for example, the pioneering introduction of glass bottling and aluminum kegs. We continued to build on this tradition in recent years through product innovations and fresh collaborations, and to all this we are now adding new momentum with the Beer Workshop and the ANTL brand," the CEO of Dreher Breweries, Gábor Békefi highlighted.

the professional development of the future ‘Beer King’. Eventually, the owner of a medium-sized brewery in England brought the young Dreher under his wings. As a result, Dreher decided to keep his factory open to anyone interested in the science of brewing. ANTL English Style Summer Ale is a tribute to this story. With a pleasant citrus and tropical fruit hop aroma, this top-fermented and unfiltered summer ale is characterized by harmonious bitterness, rugged hops, and a hint of malty sweetness. "Our team has had the opportunity to think more freely about new beer styles and recipes before, but we have always had to consider the huge scale of the factory. The Beer Workshop opens whole new dimensions of experimentation for us. We will introduce new brews several times a year, which means continuous experimentation and development for the ANTL brand," Innovation Brewer at Dreher Breweries and head of the Beer Workshop, Máté Mihály added. During the launch period, ANTL beers will be available on tap in limited quantities at more than 50 hospitality outlets in and around Budapest.

Spicy hops and malty sweetness ANTL launches with two beers initially, with the types of beers changing several times a year. The mildly bitter, unfiltered ANTL Vienna Style Lager is a modern take on the beer style that not only earned Antal Dreher the title of ‘Beer King’, but also brought him worldwide market success. Both its aroma and taste are characterized by the spicy hops in the background, contrasting its malty sweetness. During the young Antal Dreher's European study tour, most brewmasters were reluctant to help

CROWNE PLAZA OPENS FIRST BUDAPEST HOTEL HOTEL’S RECEPTION AREAS PAY HOMAGE TO THE ARCHITECTURE OF NYUGATI RAILWAY STATION

Crowne Plaza Budapest, inaugurated on July 28, 2021, will offer not only premium accommodation but also business services in the business district of the Hungarian capital.

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That is why the interior design that defines the hotel supports this, from the guest rooms to the co-working spaces in the lobby, which are free to guests and the home audience. Complementing the interior design and deepening the local cultural experience, the walls are decorated with works by leading figures in contemporary Hungarian geometric and abstract art. Axis Café and Lounge, a new-wave café with a terrace on Váci Road, also welcomes the Hungarian public for a delicious breakfast until 2 pm and serves seasonal cuisine all day. Here, the emphasis is on locally sourced, sustainable and healthy food. The suppliers are Hungarian brands that keep up with international gastronomic trends. In addition to local syrups, beers and Hungarian wines, new wave coffee is sourced from Hungarian-born Costa Rican coffee farm owner László Bányai, and guests are served cakes from Hysteria Confectionery, which also boasts the best cake of 2020. Histéria Confectionery is run by a multi-generational family of restaurateurs: grandparents started their careers in railway catering as youngsters and now have five premium bakeries. A U G U S T

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Interestingly, their cakes are now served on the legendary Orient Express trains. The next step in the hotel's renovation is the opening for guests in a few weeks of a fitness room with stunning views. The next major handover is scheduled for December when the refurbishment of meeting rooms, function rooms and ballroom will be completed, with the opening of the Club Lounge, a terraced community space overlooking the city, and the completion of the Cult, a restaurant with a large rooftop terrace, which will open to the public in 2022. MÁTÉ CZABÁN, GERGELY JANCSÓ

C R OW N E PL AZ A G EN ERAL MANAGE R MAURICE J A N S S EN ( ON THE L EFT); LÍDIA DE MJÁN, THE WI DOW OF F OR M ER CHAIRMAN OF THE TRIGRÁNIT D EV ELOPM EN T F I R M A ND MIKLÓS GY E RTYÁNFY, ASS ET M AN AG EM EN T DIRE CTOR OF GRÁNIT P ÓLUS

to meet the needs of the 21st century business traveler. The renovation is based on the designs of the Polish architectural firm Tremend, inspired by the iconic architecture, materials, textures and colors of the adjacent Nyugati railway station. The hotel's Sleep Advantage program, for example, focuses on a good night's sleep through acoustic solutions, darkening, bedding and aromatherapy to enhance the sleep experience. Beyond rest, business travelers want flexibility, an inspiring work environment, prompt service, nutritious food and the technology to get the job done.

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With 230 rooms and 13 event spaces, the property will operate only the reception areas and two floors in the first phase of the renovation during the soft opening period, and will open its specialty café ‘Axis Café and Lounge’ to foreign and Hungarian audiences. The entire building on Váci Road will be handed over in December by the owner of the building, Gránit Pólus, which also operates the Westend shopping center the hotel is situated in. The company is spending a total of EUR ten million to renovate the Crowne Plaza Budapest, part of IHG Hotels and Resorts,

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BIKAVÉR AMONG THE TOP 50 WINES IN THE WORLD ST. ANDREA WINERY MANAGEMENT CONSIDERS IT A SHARED VICTORY FOR ALL EGER WINEMAKERS The Eger Wine Region was put on the map of the wine world by the 2017 St. Andrea Nagy-Eged Egri Bikavér Grand Superior, which won a ‘Best in Show’ medal at the Decanter World Wine Awards, making it one of the top 50 wines in the world. That was the 18th edition of the prestigious wine competition with a record number of entries – over 18,000 – from 56 countries. Over a two-week period, the wines were assessed in blind tests by the world’s most respected judges.

A momentous victory A few years ago, St. Andrea Vineyards and Winery decided not to enter its wines in competitions any more. So, this wine was entered by one of their partners, Best of Hungary, a company specializing in the distribution of Hungarian wines in the United Kingdom. To honor this fruitful partnership, the winery’s management made an exception and did not veto their partner’s decision. And that was it, – as they put it – soon they had completely forgotten about the whole issue. It was one of their friends, a winemaker in Eger, Ferenc Csutorás who rang them one morning with the

wine news that two of their wines had won medals at Decanter World Wine Awards, what’s more, one of them has won a ‘Best in Show’ medal with a score of 97 points. “We were lost for words. And then journalists, friends started calling to congratulate and slowly the penny dropped and it dawned on us what a momentous victory and watershed moment this was for both the wine region and our winery,” György Lőrincz, the manager of the winery recalls.

Appreciation for all local winemakers Nagy-Eged is the outstanding vineyard of the Eger Wine Region boasting a very special terroir. A grand superior wine, which is the highest echelon of the Eger AOC, this Bikavér is based on the variety Kékfrankos supplemented by Merlot, Cabernet Franc and Cabernet Sauvignon. The wine was aged in oak barrels for 18 months. Another Bikavér of the winery, the 2017 Hangács-dűlő Egri Bikavér Grand Superior has won a silver medal at the same competition with a 93-point score. The award is considered by the St. Andrea management a shared victory for all Eger winemakers. There were several other Eger wineries winning silver and bronze medals at the Decanter World Wine Awards and this is a huge achievement for the whole wine region. The appreciation of the world’s top wine experts is something the region’s winemaking community can build upon and profit from. „Next year we celebrate the 20th anniversary of our winery’s foundation and this award is an important vindication showing that we are on the right track and we are assisted in our progress by family unity, hard work and strong belief. As the anniversary is edging closer, we are busy hatching plans for the future,” György Lőrincz adds, assessing the significance of the victory and hinting at the future.

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Diplomacy&Trade 2021 August

Articles inside

Event guide to the Hungarian capital

Bikavér among the Top 50 wines in the world