Dubai Times

Britain Nationalises British Steel to Protect Scunthorpe Production and Strategic Supply

The government has become British Steel’s sole shareholder after concluding that the loss-making company could otherwise fail, threatening thousands of jobs, essential infrastructure and Britain’s remaining capacity to manufacture primar...

Hungarian Men’s Water Polo Team Reaches Tournament Final After Defeating Italy

Hungary’s national water polo team secured a place in the final after a dramatic penalty shootout victory over defending champions Italy, generating strong domestic support ahead of the decisive match.

Richter Gedeon Expands North American Presence With New Women’s Health Product

Hungarian pharmaceutical company Richter Gedeon has received US regulatory approval for a new women’s health product, supporting its expansion in the North American market.

Hungary Launches Major Water Infrastructure Program to Combat Drought in Southern Regions

Authorities have begun a large-scale project to improve water supply in the Homokhátság region by redirecting water resources from the Danube and Tisza rivers to protect agricultural areas affected by worsening drought.

Hungary Opens Public Consultation on Artificial Intelligence Strategy

The Economy Ministry has published a draft AI strategy focused on industrial automation, algorithm regulation, and retraining workers affected by technological change.

Wizz Air Receives More Than Three Hundred Million Forint Fine Over Pricing Practices

Hungary’s competition authority has fined Wizz Air after finding that the airline’s booking process imposed hidden costs on passengers during the final stages of ticket purchases.

Hungary Hosts Central European Defence Industry Summit to Expand Regional Manufacturing

Military officials and defence companies gathered in Budapest to coordinate ammunition and drone production capabilities as European countries seek to strengthen regional defence capacity.

Hungarian Hospitals Face Rising Debt as Energy and Medicine Costs Increase

Hungarian State Treasury data shows hospital arrears have exceeded one hundred twenty billion forints, raising concerns among suppliers about pressure on daily healthcare operations.

MOL Converts Half of Danube Refinery Capacity to Non-Russian Oil Processing

Hungarian energy group MOL has completed technology upgrades allowing its Százhalombatta refinery to process fifty percent non-Russian crude oil sourced through the Adriatic pipeline, improving supply diversification.

Budapest Opens Artificial Intelligence and Cybersecurity Startup Hub

Budapest University of Technology and Economics has opened a major technology incubator focused on artificial intelligence and cybersecurity development, supported by state and European Union funding.

Hungary Expands Housing Support for Young First-Time Buyers Amid Affordability Crisis

The government has announced a new low-interest loan program for people under thirty buying their first homes as housing prices and rents in Budapest and major cities continue rising.

Hungary Blocks New EU Military Aid Package for Ukraine Over Minority Rights Dispute

Hungary has again blocked a five hundred million euro European Peace Facility payment for Ukraine, demanding guarantees from Kyiv regarding the rights of the Hungarian minority in Transcarpathia.

OTP Bank Reports Record Quarterly Profit After Regional Expansion Success

Hungary’s largest bank has reported quarterly after-tax profits exceeding three hundred billion forints, driven by strong performances from its Slovenian and Uzbek subsidiaries and improving domestic lending conditions.

Hungary Tightens Rules on Foreign Guest Workers Amid Labor Market Concerns

The government has introduced new quotas and stricter oversight for third-country workers, particularly from Asia, following social tensions in industrial regions and calls to protect domestic employment opportunities.

Hungarian Agriculture Faces Major Losses After Drought and Extreme Heat Damage Crops

The Agriculture Ministry estimates that severe heat and limited rainfall have caused significant damage to corn and sunflower production in the Great Hungarian Plain, raising concerns over food prices and agricultural exports.

European Retail Groups Challenge Hungary’s Price Controls and Special Taxes in EU Court

Spar, Aldi, and Lidl have filed a joint legal challenge at the European Union Court of Justice, arguing that Hungary’s retail regulations and tax policies violate single-market competition principles.

Hungary’s MVM Signs Long-Term LNG Supply Deal With Qatar to Diversify Energy Sources

State energy company MVM has agreed a long-term liquefied natural gas supply arrangement with Qatar, with deliveries expected through Croatia’s Krk terminal as Hungary seeks to reduce dependence on traditional Russian energy supplies.

Budapest Airport Reveals More Than One Billion Euro Expansion Plan After State Takeover

Hungary’s Economy Ministry and French airport operator Vinci Airports have unveiled plans for a new terminal expansion at Budapest’s Liszt Ferenc International Airport, aiming to strengthen the capital’s role as a regional aviation and t...

US Raises Security Concerns Over Hungary’s Expanding Chinese Investments

The US ambassador to Hungary has criticized Budapest’s policy of expanding economic ties with China, warning that extensive Chinese telecommunications and infrastructure involvement could create risks for NATO information-sharing.

BMW Prepares Production Launch of Next-Generation Electric Platform in Debrecen

BMW has completed new assembly facilities at its Debrecen plant, preparing the site for production of its fully electric Neue Klasse models and further strengthening Hungary’s position in premium vehicle manufacturing.

Hungary Announces Five Hundred Billion Forint Budget Adjustment Package to Reduce Deficit

The Hungarian Finance Ministry has introduced spending controls and maintained special taxes on multinational companies as part of efforts to bring the country’s budget deficit closer to the European Union’s three percent target.

CATL Receives Stricter Environmental Approval Before Debrecen Battery Plant Launch

Chinese battery manufacturer CATL has received updated environmental requirements for its Debrecen facility, including tighter limits on water use and emissions following local concerns over resource consumption and environmental impacts.

Hungarian Forint Falls Beyond Four Hundred Twenty Against Euro Amid Energy Market Concerns

The Hungarian currency has weakened past the four hundred twenty forint level against the euro as higher global gas prices and weaker European economic expectations increased investor caution toward Central European currencies.

Hungary Begins New Phase of Paks Nuclear Expansion with Second Reactor Foundation Work

The Paks II nuclear project, led by Russia’s state-owned Rosatom, has entered a new construction phase with foundation work beginning for the second new reactor, as the Hungarian government cites the project as essential for long-term en...

Hungary’s Tisza Party Proposes New Anti-Corruption Package to Improve EU Fund Transparency

Opposition leader Péter Magyar’s Tisza Party has submitted legislative proposals to tighten oversight of public procurement and expand cooperation with the European Public Prosecutor’s Office, triggering a political dispute with governme...

Hungarian Central Bank Cuts Interest Rate to Six Percent as Inflation Pressures Ease

The Hungarian National Bank has reduced its benchmark interest rate by twenty-five basis points after better-than-expected inflation data, aiming to support lending activity and revive domestic consumption.

BYD Begins Assembly of First Test Electric Vehicles at New Hungary Plant

Chinese electric vehicle maker BYD has started assembling initial test vehicles at its Szeged factory, marking a major step in the company’s European expansion and strengthening Hungary’s role in the region’s electric vehicle manufacturi...

European Union and Hungary Reach Deal to Unlock Four Billion Euros in Cohesion Funds

The European Commission has approved the release of additional EU cohesion funding after Hungary adopted further judicial and public procurement reforms, providing financial relief for a government facing pressure over its budget deficit.

Dubai Authorities Deny Reuters Report of Explosions in Downtown Dubai

The Dubai Media Office rejected a Reuters report claiming explosions were heard in Downtown Dubai during heightened US-Iran tensions, with Reuters later withdrawing the report pending review and Dubai authorities warning against publishi...

UAE Condemns Iranian Missile and Drone Attacks Targeting Gulf Countries

The UAE Ministry of Foreign Affairs has condemned renewed missile and drone attacks by Iran against Bahrain, Kuwait, Qatar, and Jordan, describing the strikes as violations of regional sovereignty and expressing support for neighboring c...

Uber Acquires Talabat Parent Delivery Hero in $14.8 Billion Deal Reshaping Middle East Delivery Market

Uber has completed its acquisition of Delivery Hero, the parent company of Talabat, in a $14.8 billion transaction that strengthens the company’s position in the UAE and the wider Middle East’s expanding digital delivery and logistics se...

Louvre Abu Dhabi Opens Exhibition of Islamic Golden Age Artifacts

Louvre Abu Dhabi has launched a major exhibition featuring rare scientific, artistic, and cultural artifacts from the Islamic Golden Age, bringing together works from private collections and international museums.

UAE Tightens Emiratisation Requirements for Private Sector Companies

The United Arab Emirates government has increased mandatory Emiratisation targets for medium and large private companies, with financial penalties for businesses that fail to meet workforce requirements.

Dubai International Financial Centre Launches Five Hundred Million Dollar FinTech Fund

The Dubai International Financial Centre has introduced a five-hundred-million-dollar venture fund targeting financial technology, blockchain, and digital finance startups.

DEWA Completes Renewable-Powered Desalination Plant in Hassyan

Dubai Electricity and Water Authority has completed the Hassyan reverse osmosis desalination plant, a major renewable-powered water project designed to supply clean water to Dubai’s growing population.

UAE Federal Tax Authority Reports Strong Corporate Tax Compliance

The Federal Tax Authority has reported that more than ninety percent of eligible businesses have registered and complied with the UAE’s new nine percent corporate tax system.

Dubai Police Adds Luxury Electric Vehicles to Patrol Fleet

Dubai Police has introduced new electric patrol vehicles, including Tesla Cybertrucks and high-performance electric cars, as part of its efforts to expand the use of electric transport.

UAE Hosts Global Cybersecurity Summit on Rising Digital Threats

Government officials, cybersecurity leaders, and defence industry representatives gathered in Dubai for a summit focused on protecting critical infrastructure from increasingly sophisticated cyber threats.

Zayed University Opens Artificial Intelligence and Robotics College

Zayed University has launched a dedicated college focused on artificial intelligence, robotics, and advanced computing to support the UAE’s growing technology sector and develop local expertise.

Jumeirah Group Announces Expansion Into Maldives and Southeast Asia Luxury Resorts

Dubai-based hospitality company Jumeirah Group has announced plans to open five new ultra-luxury resorts across Asian destinations as it expands its international presence.

e& and Microsoft Partner on Sovereign Cloud and AI Services in the Middle East

UAE telecommunications group e& has formed a major partnership with Microsoft to provide localized cloud computing and artificial intelligence services for governments and businesses across the region.

UAE Space Agency Reveals Design for Next-Generation Lunar Rover Rashid Two

The Mohammed Bin Rashid Space Centre has unveiled designs for Rashid Two, an autonomous lunar rover equipped with advanced geological sensors as part of the UAE’s expanding space exploration programme.

DP World Expands European Logistics Network Through Major Acquisition

Dubai-based logistics company DP World has completed the acquisition of a European freight forwarding and warehousing network, strengthening its global supply chain operations and European trade links.