Diplomacy&Trade 2022 March by Diplomacy&Trade

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VICTIMS OF A POINTLESS WAR A HUGE WAVE OF UKRAINIAN REFUGEES TO HUNGARY AS SEEN BY A HUNGARIAN VOLUNTEER SEE INTERVIEW ON page 16

Hungary

country

FOCUS

In connection to the March 15 national holiday, Diplomacy&Trade presents a Hungarian Focus, featuring several Hungarian businesses. The lead article features the CEO of the Hungarian Export Promotion Agency who explains their programs to be a reliable and active partner for Hungarian SMEs in the field of export development, thereby contributing to domestic export success by making selected firms ‘export-ready’. see compilation on pages 10-15

Shadow of Power and Money This February, global and regional geopolitical and economic trends were presented through the lens of various experts at the 23rd Financial Summit 'Superpowers: in the shadow of power and money'. It was organized by the Hungarian Business Leaders Forum (HBLF), an organization that celebrates its 30th anniversary this year and has the aim of promoting sustainable development in the country. see article on page 17

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

ASPIRING TO FINE FORM

for a future generation

The Russian invasion of Ukraine has brought about a mass refugee situation at the Hungarian-Ukrainian border. In border villages, locals are helping out with whatever they can, mayors have opened gyms and community centers, and many are bringing clothes and food to refugees. Diplomacy&Trade spoke with an experienced volunteer about the work of how civilian charity organizations assist those in need. In this issue, Diplomacy&Trade publishes a Hungarian Focus in the month of the national holiday that commemorates the 1848 Hungarian revolution. In the leading article, the head of the country’s export promotion agency talks about the program in which they aid selected Hungarian firms to develop export markets and how the agency takes part in training a new generation of foreign trade professionals. In addition to presenting well-known Hungarian brands, you can read about the completion of the renovation of the Hungarian State Opera House to start the new season. It is 25 years this year that the United Kingdom and the People’s Republic of China signed an agreement on Hong Kong becoming a Special Administrative Region within the People’s Republic of China (PRC) in a ‘one country, two systems’ setup, providing a 50-year long transitory period, during which Hong Kong would be enjoying fairly extensive independence for its internal affairs. However, the ’honeymoon’ between Communist China and its democratic and free-economy part did not last long. As our international analyst puts it, Hong Kong is likely to be assimilated into mainland China well before the end of the transitory period as Hongkongers have already received certain doses of what is means to live in an authoritarian society. On the business page, you can read about the latest event of the Hungarian Business Leaders Forum as global and regional geopolitical and economic trends were presented through the lens of various experts at the 23rd Financial Summit 'Superpowers: in the shadow of power and money'. This month, WittyLeaks is authored by the Indonesian ambassador who is widely known in his country as an artist, having been the bassist of a pop band there in the 1980s. In Budapest, he took advantage of his artistic vein to put together a musical performance of Indonesian and Hungarian musicians. He sincerely believes that when building friendship and cooperation, which is one of the jobs of ambassadors, “you never fail with music.” BalatonBor is made of the Olaszrizling type, it’s an easy-to-drink wine that nevertheless shows good weight and is aimed mainly at the region’s restaurants and local customers. Our wine page reveals the wines that - according to the professional jury - met the requirements for the BalatonBor certification from the latest vintage. This time of year, we should be enjoying the ‘rites of spring’, flowers blooming, terraces opening, outdoor concerts and festivals. Instead, after a two-year long pandemic, we are facing an even harsher reality of war in Europe. Once again, we are eyewitnesses to the cruelty of man and the significance of defending freedom. Pray for an end to this madness. Act to support the displaced!

Peter Freed PUBLISHER

AND DON’T FORGET

monthly in print - daily on the web

www.dteurope.com

BalatonBor, a guarantee of quality

Event guide to the Hungarian capital

page 18

Ambassador's vision comes true with a joint musical performance

page 09

page 19

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

17 BUSINESS

23rd Financial Summit by the Hungarian Business Leaders Forum China imposes its authoritarian system 18 WINE Jury reveals latest BalatonBor on Hong Kong certified wines 09 WITTYLEAKS 19 WHAT’S ON by the Ambassador of Indonesia Concerts, festivals, events and 10-15 HUNGARIAN FOCUS exhibitions in and out of Budapest HEPA; Tungsram; State Opera House renovated; Törley 16 VOLUNTEER Hungarian aid worker at the Ukrainian border

PUBLISHER: Peter Freed EDITOR: Sándor Laczkó PHOTO EDITOR: Dávid Harangozó CONTRIBUTORS: Sándor Laczkó, Tamás Magyarics, Dimas Wahab PHOTO CONTRIBUTORS: Musienko Vladislav/Unian (cover), depositphotos.com, Court of Justice of the European Union, Wikipedia, Sándor Bródy Library Eger, Hungexpo,

bosch.hu, Studio Incendo/Wikipedia, Embassy of Indonesia, HEPA, Tungsram, Törley, Courtey of Antal Marosi, Z. László Nagy/nagyzl.hu, Péter Bagi, IFC Films, Dániel Dömölky, Edouard Brane, David T. Kindler, MTI Photos: Zsolt Czeglédi, Noémi Bruzák, Tamás Kovács, János Vajda, Szilárd Koszticsák

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BELGIAN FOCUS – COMING SOON

In its upcoming issue, Diplomacy&Trade is going to present a special Focus section on relations between Hungary and Belgium to mark the 100th anniversary of diplomatic relations between the two countries. Belgium is among the ten largest foreign investors in Hungary with Belgian companies having invested nearly EUR two billion in Hungary so far, while the volume of trade between the two countries is around EUR five billion annually. The leading article of the compilation will be an interview with the Belgian ambassador to Hungary, Siegfried Peinen. Organizations like the Representation of Wallonia and the Brussels Capital Region, the Flanders Investment & Trade and the Belgian Business Club will also be included in this Focus along with a number of Belgian companies present in Hungary.

We welcome inquires for advertising in this issue. PLEASE CALL TAMÁS VARGA FOR FURTHER INFORMATION +36 209 350 250 - tvarga@budapestweek.com 2 0 2 2 / III

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SALES & MARKETING DIRECTOR: Tamás Varga ADMINISTRATION: Éva Madarász

PÉTER BAGI, IFC FILMS, DÁNIEL DÖMÖLKY, EDOUARD BRANE, EMBASSY OF INDONESIA, DEPOSITPHOTOS.COM

letter from the publisher

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on the record EU COURT OF JUSTICE RULES AGAINST HUNGARIAN GOVERNMENT

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ZSOLT CZEGLÉDI/MTI, NOÉMI BRUZÁK/MTI, COURT OF JUSTICE OF THE EUROPEAN UNION, WIKIPEDIA, TAMÁS KOVÁCS/MTI, SÁNDOR BRÓDY LIBRARY EGER

HUNGARIAN REACTIONS TO THE RUSSIAN INVASION OF UKRAINE "Russia attacked Ukraine this morning. Together with our European Union and NATO allies, we condemn Russia's actions", Hungarian Prime Minister Viktor Orbán said in a statement published on a social media site on February 24. Hungary must stay out of this war, the most important thing is the security of the Hungarian people, he continued. There is no question of deploying soldiers and military equipment to Ukraine. “Of course, we will provide humanitarian aid,” he added. The Prime Minister stated that "our military and police units have started working at the Ukrainian border. We expect the number of asylum seekers from Ukraine to increase after today's attack, and that we are prepared to take care of them, and will be able to meet this challenge quickly and effectively." In the evening, a few hundred people, with leading figures of the Hungarian opposition parties among them, gathered in front of the Russian Embassy in Budapest to protest against the Russian aggression on Ukraine, chanting the slogan “Russians go home!” The prime ministerial candidate of the united opposition at the April 3 parliamentary elections, Péter Márki-Zay called for PM Orbán to stop the Russian participation in the enlargement of the Paks nuclear power station in Hungary and expel the “Russian spy bank” by which he referred to the Russian-led European Investment Bank in Budapest.

NATIONAL BANK ORDERS SBERBANK HUNGARY TO CLOSE Beginning February 28, the National Bank of Hungary (MNB) ordered two bank holidays at the Hungarian Sberbank at the request of the credit institution, the ultimate mother institution of which is Sberbank, a Russian majority stateowned banking and financial services company headquartered in Moscow. During this period customers were able to make bank card transactions and can receive incoming items on their accounts but were not able to perform account transactions. In view of the sanctions introduced against Russian for its invasion of Ukraine, the MNB said “it is reviewing the state of the credit institution following the failing or likely to fail situation of the European parent bank announced by the EU resolution authority. The situation has no effect on the other members of the Hungarian financial institution system, which serve their customers stably and in the usual order.” The Single Resolution Board (SRB), the resolution organization of the European Union has announced that Sberbank Europe AG, Austria, has experienced serious liquidity problems as a result of the Russo-Ukrainian war, the credit institution is probably unable to meet its debts or other obligations as they fall due in the near future, and as a result it is failing or likely to fail. The Austrian bank is the owner of Sberbank Magyarország Plc. in Hungary and several other Central European subsidiaries. w w w . d t e u r o p e . c o m

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With measures for the protection of the European Union budget in mind, the Court of Justice, sitting as a full Court, dismissed – on February 16 – the actions brought by the Hungarian and Polish governments against the conditionality mechanism which makes the receipt of financing from the Union budget subject to the respect by the Member States for the principles of the rule of law. According to the Court, the regulation is intended to protect the EU budget from effects resulting, in a sufficiently direct way, from breaches of the principles of the rule of law and not to penalize those breaches as such.

In that regard, the Court pointed out that compliance by the Member States with the common values on which the European Union is founded – which have been identified and are shared by the Member States and which define the very identity of the European Union as a legal order common to those States – such as the rule of law and solidarity, justifies the mutual trust between those States. Since that compliance is a condition for the enjoyment of all the rights deriving from the application of the Treaties to a Member State, the European Union must be able to defend those values, within the limits of its powers. In reaction from the Hungarian government, Minister of Justice Judit Varga, claimed that a political decision has been taken on the mechanism. "The decision is living proof that Brussels is abusing its power. The judgment is another pressure against our country, because we adopted our child protection law during the summer." However, members of the Hungarian opposition pointed out that what the government calls ‘child protection law’ appeared in political discourse half a year after PM Viktor Orbán turned to the EU Court, asking for the annulment of the mechanism that can withhold EU funding from member countries where the government does not adhere to the rule of law, which is a basic principle in the European Union.

HUNGARIAN WIKIPEDIA REACHES 500,000 ENTRIES IN FEBRUARY The Hungarian version of Wikipedia, the best-known free encyclopedia, reached half a million entries in the middle of February after 19 years of work and nearly 25 million edits. The crossing of this milestone (with an article about diplomat Károly Szarka) was announced by the Wikimedia Hungary Association in a statement sent to the state news agency MTI on February 19. With 500,000 entries, the Hungarian version is the twentysixth largest lexicon among the Wikipedias (by comparison among the largest Hungarian encyclopedias: Révai's Great Lexicon contains 230,000 entries, while the Great Lexicon of Pallas and the Hungarian Great Lexicon contain 150,000 entries). According to the information provided, the Hungarian version of Wikipedia is regularly visited from around 10 million devices and hundreds of millions of entries are viewed every month. About 5,000 occasional or regular editors are involved in expanding and improving the Hungarian edition every month. T R A D E

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UPCOMING NATIONAL DAYS 1 March 3 6 15 17 20 21 25 17 April 18 27 30

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National Day National Day Independence Day National Day Independence Day Independence Day Independence Day National Day Independence Day Independence Day Freedom Day National Day

FIRST INDIVIDUAL WINTER OLYMPIC TITLE FOR HUNGARY Shaoang Liu won the men's short track speed skating 500-meter race at the Beijing Winter Olympics on February 13, making him Hungary's first individual gold medalist at the Winter Games. The Hungarian world champion, who was already Beijing bronze medalist in the mixed relay and in the 1,000-meter individual event, as well as fourth in the 1,500 meters, started from the most advantageous position on lane one thanks to his time in the semi-finals. From there, he won all his races this season on the sprint track. The 23-year-old speed skater of Hungarian mother and Chinese father took the repeat start with flying colors, set a great pace and fought off all overtaking attempts – especially from European champion Konstantin Ivlyev competing for the Russian Olympic Committee – to score a historic victory. The Hungarian Olympic delegation won three medals altogether at the Beijing Winter Olympics. Apart from this gold won by Shaoang Liu, while the mixed relay team of Petra Jászapáti, Zsófia Kónya, Shaoang Liu and his older brother, Sándor Shaolin Liu finished third with Shaoang Liu also taking the individual bronze medal in the 1,000-meter events.

BUSINESSMAN ALEXANDER BRODY PASSES AWAY Renowned Hungarian-American businessman, author and marketing executive Alexander Brody, the grandson of Hungarian writer Sándor Bródy, passed away in Budapest on February 13, two weeks after reaching the age of 89 years. Born as Sándor Bródy in Budapest, he grew up in the Hungarian capital and went to the United States at the age of fifteen, where he took the name Alexander Brody. After graduating from Princeton University, he joined the advertising firm Young and Rubicam, where he went from a delivery boy to international director of the company in just thirty-four years. Between 1984 and 1987, he was President of the World Advertising Federation. He retired in 1993, spending more and more time in Hungary.

company briefs

ERSTE HUNGARY INTERNATIONAL BONDS OVERSUBSCRIBED This February, Erste Bank Hungary completed the first international bond auction in its history, issuing EUR 350 million worth of securities with a significant oversubscription of more than 40%, the financial institution stated. A statement by the bank said that the bonds, with a fixed interest rate of 1.25% per annum and a maturity date of February 4, 2026, were sold at a yield of 1.307%. The auction took place because banks are required to raise funds under the central bank's MREL requirements, the first such bond issue in Hungary, they noted. It was recalled that the MREL requirements apply to own funds and to liabilities that can

be written off or converted. The proceeds of the issue will be used only to meet these MREL requirements, they said. Gábor Kosárszky, head of asset and liability management at Erste Bank, said in the statement that the success of the bond issue is a recognition of the bank's solid performance. "The pricing of the bonds, the interest and the broad investor base confirm that we are on the right track with our strategy," he stated. Erste Bank's after-tax profit jumped to HUF 45.1 billion in the first nine months of 2021 from HUF 12 billion in the same period last year, according to the financial institution's latest prospectus. Loans and bonds were 10% higher than a year earlier at HUF 1,978 billion, while new lending rose 6% to HUF 344 billion.

SCHNEIDER ELECTRIC EXPANDS RANGE OF DOMESTIC SUPPLIERS

VODAFONE HU REINFORCES NETWORK ON UKRAINE BORDER In the framework of international cooperation, a Czech Vodafone team arrived on February 26, two days after the start of the Russian invasion of Ukraine, from Prague with two extra mobile base stations to reinforce Vodafone Hungary’s network capabilities. The measure aimed for Vodafone to be ready to serve customers in case of an extreme increase in border traffic or other special communication challenges in Northeastern Hungary. In view of the situation in Ukraine, the company also wishes to support its customers to stay in touch with their relatives, and thus – until withdrawal –, Vodafone Hungary will offer free roaming, SMS, data and calls to all its residential and business (SME) mobile customers in Ukraine. The free distribution applies to calls and SMS to Hungary as well as to distribution

within Ukraine. Vodafone also wants to help those who call their loved ones in Ukraine from home, so calls and SMS from Vodafone residential and business (SME) mobile subscriptions to Ukrainian numbers from home will also be free of charge.

HUNGEXPO EXPANDS ITS INTERNATIONAL RELATIONS

Hungexpo Plc. is expanding its international relations, establishing a network of partners in eighteen new countries, including Great Britain, Germany, Spain and France, the Budapest-based exhibition organizer has announced. Hungexpo has so far been present in Italy, Turkey, Romania and Slovakia, and will now have a permanent representation in 22 countries. A statement by the company emphasizes that their expanding network of international agents and representatives will help to increase awareness of the Hungexpo Budapest Congress and Exhibition Center, which will offer unique opportunities

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WELLIS EXPANDS JACUZZI MANUFACTURING CAPACITY IN ÓZD A new manufacturing center will be established by Wellis Magyarország Plc. for a EUR 5.7 million investment. As a result of the project to be implemented in Ózd, NE Hungary, 100 new jobs will be created thanks to which the company can increase its global market share in the hydro massage pool segment. Over 30% of the investment costs are covered by Hungarian taxpayers through a government decision. Wellis Magyarország Plc. a company in 100% Hungarian ownership became market leader on the European hydromassage pool market due to its organic growth by relying on its exclusive Hungarian manufacturing base. Globally, it has made the top five following the developments of the past years. Its jacuzzis are made with state-of-the-art machinery equipped with robotic technology. The short- and mid-term objective of the company is to carve out more market share in the U.S. by adding to its existing network of fifty American partners. The investment announced marks the beginning of building the third production line as a continuation of previous developments which will be fully automated just like it is the case in the automotive industry. Several new quality assurance stations will also be installed to serve the highest needs of clients. Besides, they are further proceeding with building an automated warehouse of 20,000 sqm.

after the renovation, and to offer more foreign companies the opportunity to participate in trade fairs. The announcement recalls that Hungexpo has undergone a major renovation and now offers more than 70,000 square meters of indoor space and 36 hectares of outdoor space to its partners. By 2021, a conference center with 26 section halls and a plenary hall for up to 2,000 people were built, filling a decades-old gap. With the renewal of Hungexpo, Budapest will be able to host international congresses and conferences of virtually any size, it added. Hungexpo Plc. is Hungary's and the region's leading international trade fair and conference organizer and the operator of the Kőbánya Fairgrounds. According to the latest public company data, Hungexpo Plc. achieved a net sales revenue of HUF 2.67 billion in 2020, down from HUF 8.3 billion in the previous year, and the company's profit before tax exceeded HUF 1.07 billion in 2020, compared to HUF 1.1 billion in 2019.

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DÁVID HARANGOZÓ, DEPOSITPHOTOS.COM, HUNGEXPO, JÁNOS VAJDA/MTI

1,500 people, but we would like to increase this number significantly. Our initiative will open up EUR tens of millions of business opportunities for Hungarian companies and others this year." Schneider Electric has been present on the Hungarian market for more than 30 years, and the company, a pioneer in the digitization of energy management and industrial automation, currently has a team of 150 people working in its regional procurement center in Budapest, who are in contact with a total of 6,000 suppliers. It is bolstering the center in the next period, with nearly 300 people working there by 2023. The company employs around 2,000 people in its four factories (two in Zalaegerszeg, one in Gyöngyös and one in Kunszentmiklós), and in its logistics center (CEElog Szigetszentmiklós), which serves more than 20 countries in the region, and its headquarters in Budapest, and invests EUR millions in Hungary every year.

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Schneider Electric, the world leader in energy management and automation, will significantly increase the number of its suppliers in the region, including Hungary, creating EUR tens of millions in business opportunities. Launched at the end of 2020, its supplier program is creating a dedicated team at the company's regional procurement center in Budapest to support the project, with the aim of increasing the role and number of its suppliers in the region. Before the launch of the program, the company's European plants mainly received components and raw materials from suppliers in Western European countries and China, with the two regions accounting for 62% of total value at the end of 2019. The remainder were coming from emerging markets including South-East Asia, India and Eastern Europe. Since the launch of the program, emerging markets’ share has increased to 40%, with the aim of reaching 50% by the end of the year. “The fact that Schneider Electric wants to expand the number of its suppliers in the region, including in Hungary, demonstrates that we are committed to Eastern Europe.” That is according to Márton Oltvai, Director of Purchasing at Schneider Electric's Regional Purchasing Center, leader of the new team executing the supplier program. “So far, we have certified around 100 Hungarian suppliers, about a fifth of them met our quality and other requirements. We currently work with eight domestic suppliers, employing around

company briefs AUTO PART MANUFACTURING PLANT INAUGURATED BY REHAU

PEX AUTOMOTIVE INVESTMENT IN SZIGETSZENTMIKLÓS

photo by

DEPOSITPHOTOS.COM, BOSCH.HU, SZILÁRD KOSZTICSÁK/MTI, DÁVID HARANGOZÓ

PEX Automotive Systems Ltd. is expanding its manufacturing capacity with an investment of EUR 15 million. In addition to the manufacturing of existing product lines, such as brake wear signals and cables, e-mobility and intelligent automotive related production will be added. Up to 35 new jobs will be created as part of the project. PEX Automotive is part of one of the largest Chinese automotive supplier corporate groups, Baolong, which employs over 4,500 staff and had revenues close to HUF 150 billion in 2020. PEX Automotive develops and manufactures brake lining wear signals, distance measuring sensors and exhaust gas temperature sensors for the

automotive sector. The greenfield investment aims to establish a production site of 7,500 sqm, office space of 2,100 sqm and storage area of 2,500 sqm. The new facility is scheduled to be up and running in early 2023. “This investment is a consistent continuation of Baolong’s European Growth Strategy after the foundation of the Joint Venture BH SENS and the acquisition of PEX Automotive Systems Kft.,” according to Zuqiu (Charles) Zhang, CEO of Shanghai Baolong Automotive Corporation. The company plans to make the Szigetszentmiklós site the European hub of its automotive sensors division.

As a result of a HUF 50 billion (EUR 150 million) investment, a new production hall has been added to the existing site of REHAU-Automotive Ltd. in Újhartyán, SE of Budapest. Close to 15% of the investment cost is covered by Hungarian taxpayers through a government grant. In the plant of 63,000 square meters, plastic bumpers will be made with cutting-edge robotic technology primarily for Mercedes-Benz’s operation in nearby Kecskemét. REHAU, a German family business seated in Switzerland, has purchased the most modern production technology, and it has installed a painting line that is suitable to cover an area of two million square meters per year. Having a tradition of over seventy years, REHAU is active in several industries. In automotive polished

elements are produced at 50 sites in ten countries for five leading car manufacturers. REHAU is known for being among the global market leaders of painted plastic components. The most modern factory of the corporation’s global network started its operation in Újhartyán in early 2020, which is its second site in the country on top of the one in Győr. Up to 900 workers are employed by the corporate group in Hungary which number is set to go up by 300-350 in the following 2-3 years.

GRAPHISOFT PARK AFTER TAX PROFIT UP 9% IN 2021 Graphisoft Park that includes industrial and office facilities in Budapest produced a rental revenue of EUR 14.7 million in 2021, while the pro forma net profit reached EUR 4.84 million, which is almost EUR 140,000 higher than the forecast. Accordingly, the Board of Directors plans to propose to the General Meeting the payment of EUR 4.4 million dividend, or approximately 43 eurocents per ordinary share, corresponding to 90% of the 2021 pro forma profit. According to the executive summary of the interim management report, “due to the fact, that properties in Graphisoft Park are rented by stable companies engaged mainly in research & development activities less affected by the crisis caused by the coronavirus epidemic, the utilization of the office park decreased only slightly in 2020 as a direct effect of the crisis.” In the second half of 2021, occupancy began to increase again based on tenant demand, rising to 96% by the end of 2021, while the average vacancy rate in the Budapest office market remained around 9%, partly due to increased office supply. “As a result of the favorable occupancy rate and the continuous Diplomacy-n-Trade.ai 1 2017. 02. 11:22:30 extension and renewal of the leases, we27. expect

a further increase in revenues of approximately EUR 300,000 in 2022, so in addition to the expected rental revenue of EUR 15 million, the pro forma net profit could reach EUR 5.1 million, which is an additional 5% increase compared to 2021,” the summary points out. Due to the coronavirus, the changing use of offices and the rise of the ‘home office’ have a noticeable effect on the overall demand for offices. At the same time, there were still no significant space reduction needs among the Park's tenants, and smaller reductions provided an opportunity to meet the growth needs of other tenants and to move in more new, smaller tenants, resulting in an overall 2% increase in office occupancy over the past six months.

BOSCH DEVELOPS R&D AND PRODUCTION IN HUNGARY German engineering giant Bosch will strengthen its electromobility research and development (R&D) and production activities in Hungary. “Our goal is to make Budapest a center in central and eastern Europe for the development of electric and hybrid drivetrains as well other technical solutions,” the top Bosch official in Hungary, István Szászi points out. The Bosch group already produces electric drivetrains and e-mobility parts at three plants in NE Hungary, in Miskolc, Maklár and Hatvan. It employs about 3,000 people in Budapest working on future automotive industry technologies, including several hundred engineers tasked with electromobility developments. Bosch expects that a new campus it is building in Hungary will open its doors in the second half of 2022. It is expected to undertake research and development tasks in electromobility and autonomous vehicles. In Hungary, Bosch continues its development in active cooperation with industry w w w . d t e u r o p e . c o m

and academia, closely linking applied research in universities and industrial development. In 2021, the Group worked on several important development projects related to electromobility. A joint project between Robert Bosch Energy and Body Systems C Ltd. in Miskolc and the University of Miskolc has M resulted in a new manufacturing process and component that represents a major step forward inY the creation of the vehicles of the future, they said.CM In addition to its R&D activities, the company's automotive site in Miskolc is also an important MY production center for Bosch's electromobility CY efforts. New-generation products from Robert CMY Bosch Energy and Body Systems Ltd., such as the brake assist motor and the traction stabilizer, are K essential components for hybrid and electrically powered vehicles. In addition to automotive components, another important product of the factory is the electric drive for eBikes, for which the batteries are developed and manufactured by Robert Bosch Power Tool Ltd.

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analysis

LIVING ON BORROWED TIME? CHINA IMPOSES ITS AUTHORITARIAN SYSTEM ON HONG KONG

Suppressive Chinese law

BY TAMÁS MAGYARICS

The most serious attack on Hong Kong’s democracy came in 2020 in the form of a national security act passed by the Beijing rubberstamp legislation. The wording of the document can be said to be a classic example of similar Communist pieces of legislation insofar as it is so vague that anything and everything can be interpreted as violating the provisions included. It gives expansive powers for the Beijing and Hong Kong authorities to oversee and manage schools, social organizations, media and the internet, and to suppress any material that is deemed subversive, assisting terrorism, advocating secession, and ‘collusion with foreign forces’. The maximum penalty for any of these ’crimes’ is life sentence. Moreover, suspects can be removed to the mainland for interrogation, and can be put on trial in a court over there. The passing of the bill accelerated emigration from Hong Kong: the U.K., among others, offered visas for Hongkongers who had been born under British rule.

It is the 25th anniversary that Hong Kong became a Special Administrative Region within the People’s Republic of China (PRC) in a ‘one country, two systems’ setup. The deal in 1997 between the United Kingdom and the PRC provided a 50-year long transitory period, during which Hong Kong would be enjoying fairly extensive independence as for its internal affairs, and the city received quite a large elbow room even in such so-called soft external relations as, for instance, trade, communications, tourism and culture. The ’honeymoon’ between Communist China and its democratic and free-economy part did not last long though.

New sheriff in town The frictions between them seems to have started with the ascendance of Xi Jinping, who assumed the presidency of the PRC, and the positions of the General Secretary of the Chinese Communist Party, as well as that of the Chairman of the Central Military Commission, with an extremely ambitious program. It incorporated the acceleration of the construction of the virtual and real ‘silk road’ (Belt and Road Initiative); increased defense spending and modernization of the military; a more assertive foreign and security policy in the South China Sea and the East China Sea; a strategic goal of catching up with the United States economically and in other fields too – that is, an attempt to redistribute power in general in the world. President Xi Jinping also wished to demonstrate early on that a ‘new sheriff had arrived in town’ who was not willing to tolerate too much dissent in the country.

Barely a year after Xi Jinping assumed full power, the National People’s Congress of the PRC introduced a bill that would have required the pre-screening of candidates for the 2017 election of Hong Kong’s chief executive. That is, in plain English (Mandarin), only candidates approved by Beijing might have been running for the leadership in Hong Kong. The resulting so-called umbrella protests and demonstrations ultimately forced Beijing to drop the election reform plan. However, the writing appeared on the wall: the Communist leaders would not tolerate a democratic system inside the PRC for a long time. It took only five years when the next constitutional crisis erupted in Hong Kong. This time, masses of the Hongkongers protested against a proposed extradition bill that would allow Hong Kong to detain and transfer people wanted in countries and territories with which it has no formal extradition agreements, including Taiwan and the Chinese mainland” and Macau alike. (The New York Times, June 10, 2019). The Beijing government also overreached itself in its attempts to bring Taiwan under Chinese Communist jurisdiction through the back door; Taipei rejected the proposed legislation out of hand. The first female chief executive of Hong Kong, Carrie Lam was ultimately forced to withdraw the bill in the fall of 2019 – the protests succeeded once more.

MASS P ROTES T I N H O NG K O NG I N 2019 A GA I NS T THE E XTRAD I T I O N B I L L PRO PO S E D BY TH E C H I NE S E A U T H O RI T I E S

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STUDIO INCENDO/WIKIPEDIA

Successful protests

Besides these specific infringements of the democracy and individual liberties in Hong Kong, the ‘mainlandization’ of the city is under way in full speed. Thus, Mandarin is promoted to replace English, which is the language of choice of the majority of the Hongkongers; self-censorship is spreading the media; infrastructural projects are integrated; academic freedom is curtailed; judicial independence is being undermined; the election candidates are screened. With reference to the constraints put on the political process, an electoral reform law was passed in March 2021 which reduced the number of directly elected representatives (from 70 to 35) in Hong Kong’s Legislative Council. Moreover, the prospective candidates will be vetted by an Orwellian sounding body, a ‘candidate qualification review committee’. Xi Jinping’s New Year Address (December 31, 2021) stressed ’stability’ in Hong Kong and Macau – read, in Communist Party ’newspeak’ – the suppression of any political dissent in the former British and Portugal territories. His call for a ‘common prosperity’ may also be ominous for the Hongkongers: at the moment, the per capita income is roughly 4.7 times higher in Hong Kong than in mainland China (USD 47,000 versus USD 10,000). Xi Jinping’s goal – dream – is to be the global leader in 2049, on the 100th anniversary of the establishment of the People’s Republic of China. Hong Kong is set to be integrated fully into the PRC two year earlier, in 2047. However, as things are standing at the moment, and if we can make projection based on the events in the past few years, Hong Kong is likely to be assimilated into mainland China by that time. The Hongkongers have already received certain doses of what is means to live in an authoritarian society. They’d better adjust themselves to the new norms and standards in time. Tamás Magyarics is a foreign policy analyst

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‘Mainlandization’

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

LE A K S FROM INDONESIA ALL THE WAY TO HUNGARY AMBASSADOR'S VISION COMES TRUE WITH A JOINT MUSICAL PERFORMANCE BY THE INDONESIAN AMBASSADOR, DIMAS WAHAB

It’s still a very fresh memory how I came to visit Hungary for the first time, as a tourist of course. It was in 1989. I was already amazed with the beautiful landmarks and grandiose streets topped with very fine and classic architectural buildings. I viewed that Hungary, or more precisely Budapest, truly represents the splendor and glory of Europe. Back home, I know everyone would talk about Paris or Rome, but for me, from the very first time I laid my eyes on Budapest, it was obvious that this is the real beauty. That is also the reason why, after my first visit, I kept returning to Budapest, in 1992, 2005 and 2017.

Artist-turned-ambassador

Assistance coming all the way from Indonesia

I only had a few months, actually, less than five months to prepare the musical collaboration that I envisioned back in 2017. I called a prestigious Hungarian chamber orchestra and held an online meeting together with our Indonesian musicians. It was a very rare moment to see them practice together through online meeting, and as I can remember it wasn’t even in pandemic season, but we managed to do it. In September 2019, in the Hungarian Heritage House, one of the most beautiful and classical venues, we combined orchestral instruments with Indonesian traditional percussions to produce a harmonious and unique melody that everybody seemed to enjoy very much. The room was packed with people from different nationalities. The performers were so satisfied with the collaboration, and I can proudly add that this has become a role model for our embassies worldwide. That vision came true. What is a true calling of an ambassador, aside of promoting his/her own country? I can say that we are called to build friendship and cooperation, a collaboration to strengthen our ties, and to enhance our understanding of one another, and this I believe, never can fail with Music.

Back home in Indonesia, everybody knows me as an artist, art lover and doer. Most people recognize me from their television screen as I used to be part of an 80’s pop band as a bassist. Some also recognize me as a talent promoter or music producer. I was entrusted to lead the Indonesian Recording Association, as well as the Football Association. Back home, I was known as someone who lives inseparably from music and sports. I can tell it’s true. My late father told me that through sports, one can learn fairness, and through music, one can learn to have a peaceful mind.

Musical collaboration

2017 was a significant year of my true calling to Hungary. Few months before September, I was contacted by the Indonesian Ambassador in charge at that time to help her preparation for

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EMBASSY OF INDONESIA

the diplomatic reception, held annually by each embassy in the accredited country. It was my wife who’s in charge of the dance and cultural team. We brought all our artists all the way from Indonesia to Hungary to perform Indonesian traditional dances. All I can say it was a very memorable evening with all the invitees dancing altogether with us and I could witness how much Indonesian culture is appreciated in Hungary. Throughout my visits in Hungary, I also witnessed how splendid and unique the Hungarian culture is. In my mind I envisioned a collaboration that can be beautifully done between Indonesia and Hungary through music, dance, or even fine arts. I never thought that only two years later my vision can turn into reality, because in 2019, I was appointed to be the Indonesian Ambassador to Hungary.

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THE HUNGARIAN EXPORT PROMOTER HEPA ASSISTS HUNGARIAN FIRMS TO BE SUCCESSFUL ON EXPORT MARKETS

A declared aim by the Hungarian Export Promotion Agency (HEPA) is to be a reliable and active partner for Hungarian SMEs in the field of export development, contributing to domestic export success. The CEO of the organization, Dr. Kristóf Szabó explains to Diplomacy&Trade how they wish to achieve this goal and make selected firms ‘export-ready’.

One other tool that HEPA uses to facilitate domestic export successes of SMEs is the ongoing non-refundable subsidy programs. In response to either constant or instant needs

2021 ACHIEVEMENTS

Training professionals

emerging also from the SME sector, HEPA has launched different funding schemes over the past years. The main goal of the External Market Access Support was to aid countering the damages caused by the COVID-19 pandemic in terms of foreign market activities of Hungarian companies. The Brexit Adjustment Reserve was designed to help offset the negative effects of Brexit experienced by Hungarian firms. The External Market Growth Support and its successor scheme, the External Market Growth Support Program, are aiming to provide larger scale financial assistance to Hungarian companies willing to invest in foreign markets, while the Western Balkans Investment Scheme intends to realize the same goal specifically in the Western Balkan countries. In addition to the above, HEPA currently has one funding program open that is focusing on providing non-refundable financial assistance

Population-wise, Hungary is ranked 95th among all the countries of the world, however, the country’s export performance, which resulted a EUR 119 billion record-height export turnover in 2021 puts it into the 34th position globally. “So, it is safe to say that the existence of a professional export supporting institution under the governance of the Ministry of Foreign Affairs and Trade is not a ‘nice-to-have’, but a ‘must’ if we would like to keep and enhance our respective global positions. The vast majority of the companies seeking for HEPA’s support are indeed from the SME sector,” the HEPA CEO points out.

Stakeholders of small and medium sized enterprises, who consider expanding their business activities toward a foreign market, faces several unforeseen difficulties. “We realized that there is a market gap in export related online and offline programs for those who intend to become professionals in short time in that field or would like to update their knowledge. Therefore, we launched a complex e-learning program, ‘Basics of export’ in January 2022. The main purpose of the program is to draw attention of the Hungarian SMEs to the growth and innovation opportunities of the foreign markets, through introducing potential benefits given by international business activities. The other purpose is to contribute to the increasing number of domestic export professionals through providing up-to-date, practical knowledge in that field,” the CEO says. In almost 100 hours, HEPA provides e-learning and video lectures introducing the basics of export, international marketing and branding, international trade contracts and transactions, intercultural knowledge, finance and risk management. “We are aware that mastering comprehensive knowledge doesn’t happen overnight, it takes time. Therefore, we didn’t set up any time limitation, everyone who enrolls the course, proceeds according to their own free time. Videos can be watched during a coffee break or on their way to work. We believe, this leads to a more effective learning experience and on a long term to hopefully better business decisions,” he adds. Enrolling this course, which is free of charge, is a great opportunity for everyone who is looking for an introductory course in the field of export. This year, HEPA is also planning to launch a more profound training, which will prepare attendees to oversee international trading and export activities in a complex way.

to Hungarian firms intending to invest in export markets. The subsidy granted in the External Market Growth Support Program (EMGSP) can be used to implement a foreign investment, to expand an existing foreign enterprise or to acquire and develop a company otherwise destined for closure. The amount of the grant is between HUF 500 million and 4 billion, from which the program provides up to 50% financing of the total project cost. If meeting the eligibility criteria set by the respective ministerial decree, the EMGSP is open to SMEs as well as to large enterprises. All industries not excluded by the applicable EU legislation are eligible for the subsidy, however, investments in sectors defined by the Hungarian National Export Strategy will be given priority, such as health, food and construction economy, water management and environmental sustainability, creative industry, accommodation development and digitalization. The main project indicator the supported companies must undertake is that the revenue growth of the Hungarian parent company from the activities carried out within the framework of the project reaches at least 100% of the awarded support during a maximum period of ten years of compulsory maintenance of the business activity abroad. 2 0 2 2 / III

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HEPA

Non-refundable subsidy programs

Preparing a Hungarian company for being successful on export markets is just the first phase of the job. Dr. Kristóf Szabó explains that a beginner-phase exporter can easily make some unintentional mistakes, which, in the end, might result even in business loss to a certain extent. Such problems can be the lack of qualified and experienced sales personnel within the company apart from the managing director, the lack of good-quality marketing materials in the language of the target country, the lack of respective product permits or quality assurance systems, the lack of production capacities, the lack of a clear export strategy prioritizing the target markets and the reluctancy of bearing the costs of market entry. “The good news is that all the techniques and information necessary for tackle such issues are provided during our export academy programs and export consultancy services,” he points out.

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“Throughout the years, we have developed an extensive service portfolio, free of charge, that can help Hungarian companies in various fields, let them be at any stage of export maturity. For those of early export maturity, we offer international trade trainings through our so-called Export Academy, with a wide range of topics of, for example, logistics, marketing, intercultural business conduct, legal, transactional risk management or finance,” the CEO highlights. HEPA can also provide foreign market information through tailor-made market research, for instance, which greatly helps companies to reduce the risk and cost of entering foreign markets. “In order to define the export-readiness of any given company, we offer our personal advisory/consultancy services for those interested in enhancing their positions in the export markets. Also, if the ideal potential customer is well-defined for us during the export consultancy occasions, based on that profile, we conduct international partner searches, with the desired outcome being new business opportunities for our partners. Additionally, we put great efforts on export promotion, meaning that we organize business forums, B2B events, international exhibitions, conferences and all the related programs for outbound and incoming business delegations,” he adds.

Helping from the beginning

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COPING WITH CHANGES AND CHALLENGES TUNGSRAM FACES CHANGING MARKET CONDITIONS

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TUNGSRAM

Tungsram, an internationally renowned multinational company headquartered in Budapest, offers lighting and intelligent lighting-based services, smart solutions for buildings and cities, as well as tailor-made ‘greentech’ solutions. The company looks back at a history of over 125 years. Its President & CEO Joerg Bauer tells Diplomacy&Trade about how Tungsram reacts to market changes and develops new markets as the skills, knowledge and experience created over the past decades translates to different industries. As a result of market changes, Tungsram is undergoing a restructuring process. As Joerg Bauer explains, “there are many manufacturing export companies in Hungary today that have been ravaged by the global economic crisis following the COVID-19 pandemic. The sharp rise in energy prices, the increase in the price of raw materials, the global problems of logistics, transport, and the shortage of chips, and most recently the devastating war in Ukraine with the uncertainties around Europe’s energy supplies have created an uncertain and unpredictable situation that has not been seen in recent decades. Tungsram has also been severely affected by these developments. In addition to all this, governments and municipalities around the world have suspended a number of large-scale investment projects, construction projects and tenders for the renovation of entire neighborhoods in anticipation of the end of the epidemic – and the company supplying lighting w w w . d t e u r o p e . c o m

and smart technology services based a big chunk of its business plans on them in 2021. Meanwhile, demand for traditional lighting products, which are Tungsram's strength, is also declining. We have to make some serious decisions as we are facing serious challenges. The solution would be a nationwide campaign to buy Hungarian products and innovation, including ours, of course, and also energy efficient investments as win-win situations.”

Into manufacturing aircraft engine parts In December 2021, a new company, Tungsram Aero Space Power Ltd., was established within the Tungsram Group with a share capital of HUF 2 billion. The firm is engaged in the repair and maintenance of aircraft engine parts and is about to enter a USD 100 billion market worldwide. According to the President & CEO, “Aero Space Power is a great example of how our knowledge, innovation and experience in the

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lighting industry can be translated into different industries. We have produced and repaired components for 125 years for the lighting factories. Therefore, Tungsram offers first class quality solutions and engine repair services to the largest turbine manufacturers and MRO (that is, maintenance, repair and overhaul) service providers.” MRO in the aircraft industry represents a USD 100 billion turnover globally, with a continuous growth potential according to the unanimous judgement of the industry players. Two other areas accompany this field: parts production for energy industry and renewables. The company aiming at those markets employs 125 people in the production hall of the Tungsram factory in Kisvárda in northeastern Hungary (mainly experienced engineers and qualified specialists). Tungsram Aero Space Power is currently the single aircraft engine part manufacturer in the region holding the certificates of both the European

and American Aviation Authorities (EASA and FFA). The Kisvárda plant is a regional center of excellence in the field of welding.

Offering a solution for food autonomy In May 2021, Tungsram's Budapest site saw the creation of the region's first commercialscale research and demonstration vertical farm with controlled climate conditions. As a sign of the company's commitment, it later signed a cooperation agreement with the Hungarian University of Agricultural and Life Sciences (MATE) to establish a joint research institute and a temporary chair. As to what this means for the future of agricultural innovation in Hungary, Joerg Bauer highlights that this is one of the tools by which Hungary may claim back its original position in the five biggest agricultural research countries based on its knowledge. “This technology that can be one of the solutions for the global food security problem is the opportunity of our generation. One of the factors of growth is that in ten years – because of climate change, urbanization and population increase – the world will need to provide 50% more food than now. All while arable lands are drastically decreasing. For this reason, indoor farming can serve as an alternative for the food security of the world, however, huge development is necessary to be able to mass produce grains, rice, corn this way. This is also a first step towards food autonomy that has become a key concept in the turmoil of global food security enhanced by the looming crop crisis because of the war in Ukraine. Food autonomy is essential, for example, in the Middle East where growing plants is impossible externally, you need hightech indoor farming solutions to eliminate the need for huge food imports,” he explains.

hungarian focus FOR A MORE COMPLETE MUSICAL EXPERIENCE

state-of-the-art equipment supplied by Bosch Rexroth can move the streets of the stage faster, higher, and silently, creating a slope from a flat floor at the touch of a button. “Set workshops from the 4th and 5th floor have been moved out to our new logistics base and venue, Eiffel Art Studios, and a ballet and an opera rehearsal stage were set up to replace them. For the first time in 138 years, the orchestra received a proper dressing room in the basement, replacing the two-story set carpentry workshop. The soloist dressing rooms have been expanded with bathrooms, the relaxation of the ballet ensemble is supported by a sauna, while the administration has been given more spacious, open-plan offices.” In addition, the roof was restored, the building was air-conditioned, a fire alarm system was installed, the basement, the windows and rainwater pipes were insulated, the utility network was upgraded and low-voltage systems covering the entire building were installed (public announcement, IT, mobile signal amplifier, stage-manager intercom and Wi-Fi network, security, and access control systems), he adds.

HUNGARIAN STATE OPERA HOUSE STARTS 139TH SEASON IN A RENOVATED BUILDING

After five years of renovation, the Ybl Palace, the building of the Hungarian State Opera House on Andrássy Avenue, close to the city center in Budapest, opens its doors to the public in March. The General Director of the Hungarian State Opera, Szilveszter Ókovács describes to Diplomacy&Trade the various aspects of the renewal and the scope of the renovation works. The General Director says the reconstruction of the Opera House was made necessary mainly by the decadeslong and inevitable replacement of the previous and now obsolete East-German stage technology. “In the last decade, we prepared a modernization program that was supposed to remedy the shortcomings of the house, with the replacement of the underground and overhead stage engineering, and other parts of the staff areas. In the meantime, we also planned to improve the accessibility of the public areas and the acoustics of the auditorium. During the modernization, the Hungarian government eventually decided that the designers and the contractors should not do a half-job, so the entire building, along with the historical public access areas, underwent a comprehensive reconstruction that surpassed even the last renovation in 1980-84.”

The building, itself, is a palace, a 19th century masterpiece by Miklós Ybl. As to how difficult it was it to renovate the building in the spirit of the original ideas, Szilveszter Ókovács highlights that since the original plans were lost, it was a serious challenge to decide what to consider as the original idea, so the designers of the Zoboki Architecture workshop relied on contemporary accounts, the findings of the restorers and their own imagination in this field. Several solutions have been created after outlines and sketches that have never been realized, such as a new covering of the Iron Curtain, painted by OPERA's set artists, or the creation of undivided, horseshoe-shaped stalls in the auditorium, which was once unfeasible for fire protection reasons. The historical restoration, like any other, was time consuming, meticulous, and costly craftsmanship.

With the renovation works over, artistic performance comes into the limelight again. “The exterior of the Opera House is indeed very beautiful, but this building, along with all its splendor, was designed by Miklós Ybl to be a theater, with all the state of the art architectural and artistic achievements of his age. All decorations, carvings and paintings ultimately serve the performing arts, and set the mood to enjoy theater,” the General Director points out. He stresses that with the opening of the Opera House, the Hungarian State Opera can once again put on its monumental productions that were missing from the repertoire in the last five years in the absence of a proper stage. “The monumental works of Wagner and Richard Strauss return to the repertoire. In the spring we will present the new arrangement of Parsifal and Götterdämmerung, and in the fall, we will perform the Ring Tetralogy in its entirety, interpreted by Hungarian artists. Die Frau ohne Schatten will also be on stage again in the upcoming weeks. The Hungarian National Ballet will feature Sir Kenneth MacMillan’s Mayerling, internationally acclaimed Hungarian choreographer László Seregi’s, Romeo and Juliet, and John Cranko’s Onegin,” he concludes.

For a more complete musical experience The difference in detail will be evident to those who had visited the Opera House previously and will attend performances there from this March, the General Director notes that upon arrival, the Opera House shows a renewed façade, the painted porcelain ornaments of the Zsolnay Manufactory and the golden paintings shine in a brighter color, which is even more emphasized in the evenings by the new decorative lighting. That vibrant freshness is also true in the interiors: the chandeliers and sconces of the public areas, as well as the three-ton Mainz chandelier in the auditorium, have regained their original form: the bulbs are now placed in candlestick imitations instead of the previously folded flower-cup-shaped lampshades. Both the ground floor stalls, the upstairs boxes, and the balcony can be reached by elevator for accessibility. In the auditorium, visitors are welcomed by more spacious, comfortable seating. Two rows of seats were removed after the orchestral pit regained its original size. On the balcony and in some parts of the stalls, smart chairs were introduced that present surtitles and other features. The acoustics have also improved noticeably: the enlarged, and tunable orchestral pit’s depth is adjustable, and is open to the resounding space below the stalls. All these features attribute to a more complete musical experience for visitors.

DÁVID HARANGOZÓ

Renovating a 19th century masterpiece

Monumental productions awaiting the audience

Renovations behind the scenes

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Emphasizing again that the driving force behind the renovation was the renewal of stage technology, Szilveszter Ókovács explains that the 2 0 2 2 / III

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TÖRLEY: TRADITION AND QUALITY

technologies. First, there is the classic bottle fermentation technology (Méthode Traditionnelle). This has the peculiarity that the bottle in which the sparkling wine ferments is the one in which the consumer buys it. Then, there is transfer technology ('Méthode Transvasée'): there are special fermentation bottles in which the sparkling wine is fermented, but from which that sparkling wine is siphoned off into a bottle that the consumer will find on the shelf. In addition, there are two more technologies that are similar to each other: the tank fermentation technologies. One is where the sparkling wine is fermented from wine (Méthode Charmat), and there is another where it is fermented from must (Méthode Asti). What I see is that in recent years the Hungarian sparkling wine market is also developing more and more towards the premium segment, consumers are increasingly looking for higher value, bottle-fermented products. We see this in the development of the Törley and Hungaria product lines.”

SUSTAINABLE DEVELOPMENT, ENVIRONMENTAL PROTECTION AND CULTURED CONSUMPTION

Tradition and quality Törley is a brand that practically everyone knows about in Hungary. This is partly the reason why the company is very proud that Törley sparkling wine has become a ‘Hungarikum’, a term used for products of typically Hungarian attribute, uniqueness, specialty and quality. Consumers associate Törley with values such as tradition and quality, as well as reliability, professionalism and elegance. Gábor Csekei says “we are very happy when we hear these things back from consumers and we are particularly happy when we achieve very good results in international wine competitions. Last year, for example, we won gold medals at several contests of which I would like to mention two now. The company's top Törley sparkling wine, the bottle-fermented ‘Törley Chardonnay Brut’ received the Champion title, which means it was deemed the best of the gold medal winner sparkling wines at the Vinagora wine and sparkling wine competition. For the third year in a row, our Hungaria Rosé sparkling wine was among the top ten sparkling wines in the world at the French 'Effervescents du Monde' competition. I think this is a recognition that even József Törley would be proud of.”

The world-renowned Hungarian company Törley Sparkling Wine Cellar Ltd. celebrates its 140th anniversary this year. Its Managing Director, Gábor Csekei tells Diplomacy&Trade about how they cherish the traditions established by the founder, József Törley at the end of the 19th century. “The spirit of József Törley is still part of the company and its culture. He was an innovator who applied the most modern technologies of his time and introduced them to Hungary, both in the production of sparkling wine and in marketing, which was practically nonexistent at the time,” the Managing Director highlights. József Törley used steam engines and built a cellar system that ventilated itself, simply taking advantage of temperature differences to ensure a constant temperature without any additional assistance. “He used trucks, which was not common at the time – we are talking about 1882 – and he built elevators and hoists to operate this three-level basement system. Uncommonly for the time, he realized that it was an art not only to produce sparkling wine, but also to sell it. He collaborated with artists to design counting slips and advertisements that

were uncommon in Hungary during that period. We are very proud that this innovation has become part of our heritage, which we like to sum up as tradition and quality. We preserve what he created and what the previous generations, all of whom worked in Törley, created,” he adds. The facility where the Törley bottle-fermented sparkling wines are made is still almost at the same place where József Törley founded the factory. The company is preparing for the 140th anniversary by producing limited edition, uniquely labeled products, going back in time a little bit, and, of course, they will have a special event to go with it.

Just like the region of Champagne József Törley, who died 115 years ago, said that with great diligence and perseverance, he had managed to produce something far superior

Caring for the environment and the consumer

to the Champagne sparkling wines. "At the time, he came back to Hungary because he encountered a soil structure in the Etyek-Buda wine region that is typical of the Champagne wine region,” Gábor Csekei explains. The production technology in making wine and sparkling wine has changed a lot over the past 140 years and progress continues to be made. The most recent example of this technological development is that Törley Sparkling Wine Cellar Ltd. bought a filtering machine that can filter sparkling wine under pressure. At the time of József Törley, it was a mystery how the fermentation process itself went through in each bottle of fermented sparkling wine, as no one could see inside the bottle. Now, there is a machine that can look at the individual bottle to see how much pressure is in it, and thus, staff can tell whether fermentation has taken place or not.

Törley Sparkling Wine Cellar Ltd. is also committed to sustainable development, environmental protection and the cultured consumption of alcohol. “Here at the Törley Museum, we receive a lot of guests, and we

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hungarian focus community's sewage treatment plants, because these plants discharge already purified water. The Managing Director highlights that “our approximately 900 hectares of vineyards are the agricultural part of the company and here too we have in recent years been putting more and more emphasis on adding sustainability to the primary farming objective. Our aim is to achieve a livable environment in these areas that is not only good for the vines, good for the people who work there and visit them, but also good for the other flora and fauna that live there, in other words: for the environment. Our colleagues are committed to continually learn and implement new methods. So, there is not only pressure from outside, but also from within, to preserve the planet for our children. I am particularly pleased that anyone who visits our vineyards in Etyek can see an increasing bird population. So, it seems that the birds are getting more and more comfortable there, too. It's a very complex business how to manage the insects that feed the birds so that they don't damage the vines, but my colleagues have figured out the right way to do that, and we have increasingly populous bee-eater colonies. They are beautiful birds. On the vineyard side, we planted a vineyard three years ago, which is now being farmed organically. That's roughly ten hectares of vines, our first experiment, and we're very proud that we're now harvesting them so we can produce organic products.”

Guided tours The Törley Sparkling Wine Cellar organizes guided tours for interested visitors. "We have built a visitor center that tells the history of the Törley company from József Törley to the present day. After visiting this center, people typically take a cellar tour, walking through at least two floors of the cellar system. Here we explain how the sparkling wine itself is produced. Guests can find out what the characteristics of the tasted sparkling wines are, how they are produced, what flavors can be highlighted. It's becoming more and more popular, the number of people coming to us is increasing, which I'm very happy about because I believe that personal relationships really build the brand,” Gábor Csekei points out.

Successful in Hungary and abroad In terms of the company's international activities, he is also proud of the fact the company has good market positions not only in Hungary, but also in Europe and beyond. “We sell roughly one third of our sparkling wine production and more than half of our wines on foreign markets. What we are particularly proud of is that in Estonia – a country with a population

of one and a half million people – the similar amount of Törley sparkling wine is consumed per capita as here in Hungary, and we are of course the market leader in this respect there too. We are also very proud that in Quebec, a French-speaking province in Canada, we are market leader and sometimes second with our Hungaria sparkling wine. We, as a Hungarian sparkling wine brand, are delighted to be among the best in a French-speaking province. In general, you could say that, apart from Australia where we supply only rarely, we are present on every other continent.” The Managing Director stresses that their goal is to continue to be a major player in the Hungarian market in the coming years and, if possible, to improve their position among

sparkling wine producers. “We have also seen very good growth in our wine production in recent years and we will continue to work on this. As far as export markets are concerned, I must say that Hungary and Törley are a drop in the world market. So, our strategy is to achieve a significant position in two or three well-chosen markets. Of course, if there are requests from elsewhere, we are also happy to supply. In terms of production, in other words the technological part, the biggest development in the next few years will be the construction of a new grape processing plant in Etyek, based on the latest technology, so that we can try to make progress in that field too. We are confident that the quality impact will be felt by consumers,” he concludes.

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DÁVID HARANGOZÓ, TÖRLEY

also meet a lot of guests and consumers at festivals. We always emphasize that moderation is one of the cornerstones of quality sparkling wine consumption.,” according to the Managing Director. He adds that sustainability is a much bigger and much more complex story. “It is quite natural nowadays, after all, that in all our developments, we look at how we can be more energy efficient, how energy efficient the machines themselves are. We are always considering how we could switch to renewable energy in our development and how we could use it in full or in greater quantities. We also look at the packaging of our products in an environmentally conscious way, so, we work with our suppliers to use bottles that are as lightweight as possible, use packaging with as little plastic content as possible, and many of the cartons are now made from recycled paper.” The company also stresses the need for sustainability in its cooperation with its retail partners. Gábor Csekei says he is very proud that two of their plants have wastewater pretreatment systems. This means that Törley’s production is putting much less strain on the

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volunteer

VICTIMS OF ANOTHER POINTLESS WAR

to see what happens next. The bus will come, take them to the railway station in Budapest, and perhaps they will help you there to decide what to do next, Antal Marosi describes the situation. He adds that one evening, he met a very sympathetic woman, Tünde, who came to the border from Mohács, in the south of Hungary, to select a family to be put in a car and taken to Mohács. Tünde had already experienced a few war situations in the former Yugoslavia, bordering on southern Hungary. She knows what it all means and felt it was her duty to help someone in a similar situation. So, she took a woman home with her parents and two children. Of the family, the 18-year-old child has been left behind, fighting somewhere in Ukraine; her husband, hiding in a basement, is not only under 60 and thus in military age, but he is also deaf. He might be old enough to be a soldier, but his health rules him out. In this situation, he did not dare to leave. His wife left with his parents and their two children and they ended up in Mohács...

THE WORK AND EXPERIENCE OF A VOLUNTEER HELPING UKRAINIAN REFUGEES

The Russian invasion in Ukraine prompted a huge wave of refugees many of whom arrived to Hungary. On this side of the border, local people and civil organizations gathered to help those forced to flee their home. One of these volunteers is journalist Antal Marosi who tells Diplomacy&Trade about the work he and his fellow aid workers do on both sides of the Ukrainian-Hungarian border.

Everyone is right somewhere...

This is by far not the first time Antal Marosi has been involved in humanitarian aid. As previous experience is very useful in helping refugees in and from Ukraine, he mentions the professional experience that one learns as a firefighter. “Also, experience that we gained during the COVID-19 epidemic when we went to many places to perform disinfecting services. In addition, the things I've been through in my

Moment not waning It was heart-moving to read, to see in the news that people in the border villages, including NGOs as well as ordinary people came to help where they could. Regarding the atmosphere among the people helping the refugees, Antal says “it depends on how much time has passed. After the problem arose, there was an upsurge. Everybody wanted to help everywhere, then things settled down a bit, so now, for example, there is a separate aid organization at each point on the border, except for the Red Cross, which is present everywhere. There was a period of straightening out, of calming down, followed by fatigue, but the momentum is not waning, it's just that people are tired. The vast majority of volunteers have jobs. I know of a doctor in Kisvárda who is a gynecologist: she sees patients during the day and drives a small lorry with a consignment of goods across the border to Ukraine in the evening. From the first minute, you could expect an internal migration in Ukraine. In the western areas, there was a sudden increase in the population and the medicines ran out. This consignment

I mentioned was also a shipment loaded with medicines and other medical supplies.”

From Kiev to Mohács Antal notes that refugees “don't really want to talk. Refugees have a particular state of mind: to get as far away as possible from the trouble – at all costs.” He gives the example of a mother with two children who reached Hungary through Romania. “They actually managed to escape with the help of the Budapest Fire Brigade and our association. This mother had been travelling for four days with a huge backpack, with a one- and a three-year-old child, from Kiev to the external borders of Ukraine. She told us that what we see in the films or in the reports does not even come close to reflecting the actual situation in the Ukrainian capital.” He stresses that many of the refugees are very distrustful. A day or two goes by, and then they are stunned in the reception zone: "We're out of the woods now, it's OK, but what next?" Those who had friends and relatives have obviously found them, but those who have no one outside Ukraine sit on the bench and wait

COURTESY OF ANTAL MAROSI

An experienced volunteer

journalistic career, including the wars I've covered over the last 25 years.” One of those places was Kosovo, where he had several reporting assignments. "I was there when the country was formed. Then, I've been to crisis zones like Palestine, Lebanon and Afghanistan – just to name a few. I was in Iraq for four and a half months initially, and then spent a year and a half there in total. For example, I was there at the start of the second Gulf War,” he highlights.

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The Russian attack started on February 24 and the following evening Antal Marosi was already in Záhony, a major border-crossing point, reporting for the radio station that he works for. “We have a volunteer fire brigade association, and we were escorting an aid convoy across the border to the city of Lviv. It was an aid consignment worth HUF 100 million, and the organizers thought that if something went wrong, at least the fire engine could prevent a lot of damage. On another occasion, with the Catholic Charity Service, we got as far as Kőrösmező, the furthest village in Transcarpathia,” he says, adding that he has been trying to “make myself useful” ever since. A member of the fire brigade association has a number of ozone generators, and they use these machines to go to different places where there are large numbers of people and presumably there is a need to decontaminate the air. “We actually started this activity earlier and have been decontaminating many places since the beginning of the coronavirus outbreak. We cleaned the laundry of patients infected with coronavirus at that time,” he adds.

In the course of his volunteer work, Antal Marosi has been over to the other side of the border several times. Concerning those who stayed there, those who are not fleeing or have not yet fled, he points out that “those who haven't fled have done so because their house is there, their animals are there, their only value is there, the only thing they have put together in their lives.” He cites the example of an elderly woman who lives in a remote village, in Gyertyánliget: “75 years old, she can no longer move. You have to hire someone to sweep the snow off her pavement when it's winter, she has no one, she's out of her medication, in a week she might have antihypertensives, and I don't know what else she needs. Where to go? Well, she's staying, for one. Whoever leaves, I don't really know why they leave, because there is not so much danger in Transcarpathia, the region bordering on Hungary. Obviously, there was a hysteria once, and as a result of this, a lot of Hungarian-speaking people left and crossed the Hungarian border. I don't know what will happen to the houses they left behind when they return, whether refugees from the interior of Ukraine will move into the empty houses, and what condition these properties will be in. Otherwise, the big question is whether the internal refugees will have somewhere to move back to, because if not, they should stay where they have moved to. So, there will be a lot of questions that will arise later on, and we do not know what the right answer is. Everyone is right somewhere...” When asked what thoughts come to his mind about this situation, thoughts that he would share with ordinary people or politicians, Antal Marosi emphasizes that “the same thing that has occurred to me in all wars and is clear to me: it is completely unnecessary and pointless...”

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business

IN THE SHADOW OF POWER AND MONEY THE PLACE OF THE SMALL AND OPEN HUNGARIAN ECONOMY IN THE WORLD

The Hungarian Business Leaders Forum (HBLF), an organization with the aim of promoting sustainable development in the country, celebrates its 30th anniversary this year. The objective of the conference series they organize is to engage in a professional debate with national and international experts on the competitiveness of Europe and America, global challenges in the light of political and economic changes, among other issues. This February, global and regional geopolitical and economic trends were presented through the lens of various experts at the 23rd Financial Summit 'Superpowers: in the shadow of power and money'. Diplomacy&Trade summarizes some of the lectures. In his opening speech, Minister of Foreign Affairs and Trade Péter Szijjártó said that the Hungarian economy had set records in three areas: inward investment, employment and export surplus. He was of the view that the singlerate system introduced by the current government after 2010 for personal income tax and corporate tax has been a clear success, as unemployment has fallen while the number of people in employment has increased from 3.7 million to 4.8 million. He added that incentives have also been introduced in the area of investment, allowing the government to participate in the regional investment competition on better terms. In the last three years, East Asian countries have been the biggest foreign investors in Hungary: South Korea in 2019, China in 2020 and South Korea again last year, the latter with the largest volume of greenfield investments. He stressed that Hungarian economic policy in the post-epidemic recovery from the crisis was geared towards preserving jobs, and that “hundreds of thousands of jobs were protected through state support.” He added Hungary had set records in three areas of economic policy last year: the volume of foreign investment, the rise in employment and export surpluses.

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Z. LÁSZLÓ NAGY/NAGYZL.HU

Pandemic has made security more valuable In his speech, former Foreign Minister János Martonyi underlined Hungary's success in foreign investment. He stressed that the pandemic raised the profile of security, “which is no longer only important in the military sense, but also in the fields of cyberspace, energy and food supply, and health protection.” On the problems of the trading system, he said that the economic recovery has overloaded the system, which needs stability, predictability and transparency. Mentioning the regulatory challenges facing the EU, he said that changes are expected in several areas: wider regulation of public procurement and state aid rules for non-EU countries, security strengthened by pandemics, environmental and human rights considerations in the production of imported products, the ‘anti-coercion law’, which would eliminate cases such as the import restrictions imposed by China on Lithuania, and the requirement for corporate governance to comply with w w w . d t e u r o p e . c o m

However, higher interest rates do not necessarily mean a fall in equity markets, at least this has been the case in the four major rate hike cycles of recent periods. "When the Fed raises, the economy spins, which is why the S&P index hasn't fallen during the tightening. The reason for the current stock market swings is therefore much less about the Fed rate hike in March and much more about the difficulty for central banks to get out of quantitative easing, which is why equity markets are nervous," he said.

Inflation should not be a crisis problem The deputy governor of the National Bank of Hungary (MNB), Barnabás Virág predicted in his presentation that as the epidemic subsides, we can expect more prudent fiscal policies and fewer market volatility, adding that the current inflationary phase could be prolonged, with the 7.9% money deflation rate recorded in January close to its peak. He stressed that higher inflation is the price of the epidemic and crisis management. The peak in inflation may be prolonged and the decline will be slow, he warned. “The fight against inflation, the monetary tightening, was started early by the central bank and will continue until the fight against inflation seems to be won,” he added. “It cannot happen that high inflation becomes self-propelled and acts as a self-exciting process, this must be prevented at all costs.” He was of the view that even in a higher inflation environment, we need to return to a formula of balance and growth, while competitiveness and productivity should also be boosted by going green and accelerating digitalization.

Heal the world!

EU rules in the supply chain for products sourced from outside the European Union.

Fighting for artificial intelligence Most of the big companies that have grown out of tech start-ups are in the United States and China, with the EU lagging far behind. The battle for AI will decide who will become the global leader, according to Zoltán Cséfalvay, economist and former OECD ambassador, in his lecture ‘From globalization to technology, the new challenges of globalization’. “Technological development is exponential, and the competition for artificial intelligence between the major powers has become more intense. There is now fierce competition for technological advances, including those related to artificial intelligence, and the winner could be a geopolitical and military winner,” he added. In his lecture, he pointed out that artificial intelligence is transforming globalization, societies and economies, and that this competition is mainly between the US and China, while the European Union is increasingly being left out of the race.

With a view to the US dollar The American dollar could strengthen further this year due to the support of monetary and fiscal policy, Gyula Pleschinger, Director of MKB Bank Private Banking, said in his

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presentation on the impact of the US Federal Reserve's expected interest rate hike on equity markets and emerging market currencies. He pointed out that the yield on the two-year dollar bond is now 1.56% and the yield on 10-year bonds is 2.01%, with these rates expected to go up this year as the Fed starts to raise interest rates.

In his closing keynote lecture entitled 'Brave new world', Founder and Chairman of the Board at Concorde Securities Ltd., György Jaksity touched upon the subject of human development and its actual – sometimes quite false – perception by people due to the lack of education or false beliefs often spread in social and other media. In the Historical Index of Human Development (1870-2017), the audience could see Hungary being positioned in the middle of the ranking as far as average achievement in three key dimensions of human development: a long and healthy life, being knowledgeable and having a decent standard of living. Most of the world has shown development in that regard but there still is widespread poverty in the world, especially in Africa. The lecturer stressed that it causes more problems than inequality and the most important issue is to eradicate poverty. There are a lot of risk factors to human life – unhealthy air quality, the lack of good quality drinking water, lifestyle (tobacco, alcohol, lack of exercise, etc.) – and the key issue, apart from improving conditions, is how much the healthcare system can do to cure the ensuing illnesses and diseases, especially, that – with the aging population of the world – causes of death are increasingly linked to old age. So, it is not a worsening tendency but rather the unavoidable consequence that in an aging society, illnesses are more frequent. His conclusion is that it is much easier to achieve results in healing than in improving the circumstances.

wine the Dobosi Estate’s Head Office to taste the samples submitted by the wineries. By the end of the day, the list of the wines successfully passing the BalatonBor qualification test was complete. The following wineries have gained the right to bottle BalatonBor: Istvándy Cellars, Hujber Cellars, Zelna Winery, Szeremley Wine House, Dobosi Cellars, Gyukli Cellar, Koronczai Cellars, Pócz Cellars, Veszprémi Cellar, Feind Cellar, Tagyon Estate and Fata Cellar.

Aiming for quality level

BALATONBOR, A GUARANTEE OF QUALITY

CANDIDATES FOR THIS QUALIFICATION SHOW CONSTANT IMPROVEMENT YEAR AFTER YEAR

After tasting the samples provided by the winemakers, the jury revealed the wines that met the requirements for the BalatonBor certification from the latest vintage. The primary target this year is to break the 100,000-bottle annual production barrier and to place BalatonBor in an exalted position in the HORECA sector around Lake Balaton.

“At Lake Balaton, quality has never been more important than now and determining what quality level we should aim for is an important task for all of us. In previous years, stocks of BalatonBor have always run out before the next vintage was ready to be released and our winery is continuously increasing production. This is also true for all the other wineries. Our goal in 2022 is to win over even more wineries, small or large, to produce BalatonBor and by doing so break the 100.000 bottle annual production barrier. Each year, we are seeing improvements in quality, the style is more homogenous and more and more wineries pass the qualifying test with success and get the permission to bottle BalatonBor,” winemaker Győző Dobosi says summarizing his experience. “The restaurateurs in our region who were at first rather skeptical about the concept have by now changed their minds and often complain that they run out of stock too fast as Balatonbor is gaining popularity. I think that this is another really good form of communication between Lake Balaton enterprises and the local wines,” he adds.

“Producers now have a better understanding of the position BalatonBor should fulfil in the regional product pyramid as well as in finetuning the style that they have made great progress with over the years.” That is how Zsolt Pintér, the head of the project, the Managing Director of Kóstolom (‘I taste it’) and the Sales & Marketing Leader of the WineGroup project summarized the findings of the test in a few words.

An easy-to-drink wine BalatonBor is made from the Olaszrizling type, an easy-to-drink wine that nevertheless shows good weight and is aimed mainly at the region’s restaurants and local consumers. Beyond the objective parameters, the quality of the product is judged by a jury assembled by members of the Balatoni Kör (‘Balaton Circle’) and Rizling Generáció. At the beginning of 2022, the jury gathered at

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12TH FRANCOPHONE FILM FESTIVAL

SAVAGE DETECTIVES AT THE RADNÓTI THEATER

EARLY MUSIC FESTIVAL

VARIOUS VENUES IN BUDAPEST Deneuve and her 1 Catherine daughter, Chiara Mastroianni, Gérard Depardieu, Sophie Marceau, Audrey Tautou, Charlotte Rampling, Béatrice Dalle, Virginie Efira, Xavier Dolan, André Dussollier and the recently deceased Gaspard Ulliel – to name just the most prominent artists – all appear on the screen at the 12th Francophone Film Festival where the latest awardwinning films will be shown to Hungarian audiences. Organized by the French Institute, 23 contemporary francophone films – French, Belgian, Swiss, Tunisian, Moroccan and Canadian – will be screened in Budapest at the Uránia and Toldi cinemas, the Art+ Cinéma and the French Institute, in original language with Hungarian subtitles. Several films from the competition programs of the Venice, Cannes and Locarno International Film Festivals, as well as from the nominees and winners of France's most prestigious film prize, the César, are also on offer. The opening film of the event will be François Ozon's latest film, All's Well That Ends Well. In addition to French films, the 12th edition of the Francophone Film Festival will also feature Belgian, Swiss, Tunisian, Moroccan and Canadian films and promises to be a diverse event in terms of genre. Historical films, dramas, comedies, horror films, family films, thrillers, crime thrillers, music films and several documentaries will enrich the program.

RADNÓTI THEATER, BUDAPEST on the novel by the star of Latin 2 Based American literature Roberto Bolaño, ‘The Savage Detectives’ is a grandiose theatrical undertaking at the Radnóti Tesla Laboratory this season. Linked to the production this year, the Radnóti Theater starts a collaboration with the Embassy of Spain, the Instituto Cervantes and the Embassy of Chile. One part of the endeavor is to initiate engagement with English and Spanish speaking audiences in Budapest who are interested in seeing the Hungarian stage adaptation of the novel. With the support of the Embassy of Spain, the theater provides surtitles for four performances of ‘The Savage Detectives’: in April in English, in March and in May in Spanish. The surtitles are visible from Seats 33-144; therefore, the theater asks everyone who might be interested to book tickets accordingly. As part of the collaboration, a four-part series of post-show talks in Hungarian are held following the surtitled performances, discussing the links and parallels between Latin American and Hungarian culture and the topics of openness and diversity. The ‘BRIDGE Post-Show Talks’ are open to the public, and anyone can join in from 9.30 p.m. to participate and enjoy the fine wines offered by the Embassy of Chile. The talks will cover (among other topics) the neo-avant-garde movements in Hungary and Latin America and the legacy of the world-known author Roberto Bolaño, owing much of his fame to his novel, ‘The Savage Detectives’.

PALACE OF ARTS, BUDAPEST 2022, the Palace of Arts (Müpa) 3 In in Budapest welcomes lovers of Renaissance, Baroque and Viennese Classical music with a selection of special treats for the seventh time. Singers, instrumental soloists, orchestras, conductors: once again, the audience finds the cream of the crop of both the international and Hungarian music worlds among the performers. Müpa Budapest's artist of the season, the worldfamous soprano Emőke Baráth, has compiled a program of Handel arias for her performance. The interesting aspect of the evening is the fact that her fellow artist and friend Philippe Jaroussky joins the concert as the conductor of the Ensemble Artaserse. Rolando Villazón will visit Müpa Budapest as the soloist for Christina Pluhar's ensemble, L’Arpeggiata. The emblem of their craft is Monteverdi, and the visuals on the stage adorned with costumes and lighting effects will culminate in the duel between Tancredi and Clorinda. “Cherubini's opera Les Abencérages is an exceptional delicacy, which we will get to know under the baton of György Vashegyi. Partnering with the Purcell Choir and the Orfeo Orchestra in it will be world-renowned singers such as Anaïs Constans and Edgaras Montvidas. For us in Hungary, the Catalan Renaissance is an unknown world. The works of the 16th-century composers Vila, Milà, Brudieu, Flecha and De Pastrana can now be discovered courtesy of the singers and instrumentalists of Barcelona’s Cor de Cambra del Palau de la Música Catalana,” Müpa says. The audience of Le Mariage forcé will be able to imagine from this production of total art by Le Concert Spirituel, Les Malins Plaisirs and Compagnie d’Eventail and conducted by Hervé Niquet how two immortal artists, Molière and Lully, collaborated with each other. Metropolitan Opera mezzo-soprano star Joyce DiDonato, as before, will present a themed evening this time: in the company of her fellow artists, Il Pomo d'Oro, directed by Maxim Emelyanychev, she recalls the majesty of Nature in her show with the aid of works by Cavalli, Handel, Purcell, Gluck, Wagner, Mahler, Ives and Rachel Portman.

MARCH 17-27

MARCH-MAY

franciaintezet.hu

MARCH 2-22,

radnotiszinhaz.hu

mupa.hu

HOT WHEELS MONSTER TRUCKS LIVE

MARCH 19-20, PAPP LÁSZLÓ BUDAPEST SPORTS ARENA, BUDAPEST

Hot Wheels Monster Trucks Live returns to Europe, with more trucks than ever before! The all-new Mega Wrex™ truck towers with its 12-foot dinosaur design, bolstering 1800 horsepower to crush the competition. Fans will also be introduced to the new Bigfoot Midwest Madness™, as well as Race Ace™ as a new monster truck to the event series, bearing the iconic Hot Wheels flame design. The tour continues to bring audiences the only opportunity to see real-life versions of the famous Hot Wheels monster truck toys including returning favorites - Bone Shaker™, Tiger Shark, V8 Bomber™, and Demo Derby. Event performances will also feature a special appearance from the car-eating, fire-breathing transforming robot Megasaurus, and the high-flyers of Hot Wheels Monster Trucks Live, Freestyle Motocross! The popular Crash Zone Pre-Show Party is will begin 2-1/2 hours before every performance. The unique experience provides fans access to the competition floor to see the outrageous designs and epic size of the Hot Wheels Monster Trucks! Fans can make the day even more memorable with an adrenaline-fueled VIP Package – including amazing views of the action, merchandise, guided Monster Truck tours and more! There will be 3 shows in Budapest, the matinee will start at 11.30, the evening show will start at 18.30 on Saturday March 19, 2022 and the matinee will start at 11.30 on Sunday March 20, 2022 at Budapest Arena.

livenation.hu

photo by IFC FILMS, DÁNIEL DÖMÖLKY, EDOUARD BRANE, DAVID T. KINDLER

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Space for progress. The new Audi A8 TSFI e. Future is an attitude

The new Audi A8 TSFI e’s combined fuel consumption: 2,0–2,1 l/100 km, combined power consumption 19,6–20,5 kWh/100 km, combined CO₂ emissions: 45–49 g/km. The values specified are based on the default factory setuprecorded at the type approval and are valid at the time the ad is posted. The designated values were measured according to WLTP. They do not apply to individual vehicles and are not part of the information notice, but serve the purpose of comparing different types of vehicles, in accordance with the provisions of Regulation (EC) No 715/2007. These values are influenced by additional equipment, accessories, driving habits and other non-technical (e.g. environmental) factors.

Diplomacy&Trade 2022 March

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BalatonBor, a guarantee of quality