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 "The Company Court has officially registered Webbank, founded to assist borrowers in converting their foreign-currency mortgage loans. The bank is to have Ft 3 billion of capital, 49% of that provided by the state and 51% by private investors. Webbank will have only one branch, but its operations will be based entirely on the internet, to keep operating costs low. more » "Fitch Ratings downgraded its rating of four Hungarian banks, as a consequence of its decision to reduce Hungarian state debt to junk status on January 6. Specifically, the long-term debt of CIB and K&H banks is lowered to “BBB”. Fitch also downgraded the support of the parent concerning CIB, K&H, Erste and Raiffeisen banks. more » "The European Commission yesterday ordered Malév to repay almost Ft 100 billion to the state, after ruling that government financial assistance for the airline during 2007-10 constituted illegal state aid. In essence, the EU competition authority found that Malév could not have obtained such financing from the market on similar conditions as offered by the state. more » "Country marketing, work morale, the education system and bureaucracy are the main areas where Hungary needs improvement in order to increase its attractiveness as an investment target, according to the participants of a workshop organized by the American Chamber of Commerce and the Ministry of Public Administration and Justice. more »|
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