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 "Shares tumbled 4.2% on the Budapest Stock Exchange in the first trading session of the week, on Wednesday, led by MOL and OTP, both shedding more than 6% of their value. The markets reacted with a sharp sell-off to news that Greece is to hold a referendum on the bailout package agreed last week. more » "The EBRD has trimmed its projection of Hungary's GDP growth this year to 1.0% from the earlier 2.7% in its latest report and expects only 0.5% growth in 2012, compared to a 2.8% estimate in July. More generally, the EBRD sees a risk that the eurozone crisis may spread to Eastern European and Baltic countries, and lowers its 2012 growth forecast for the region to 1.7% from 3.5% projected in July. more » "It is nonsense to say that that the government is against banks or credit and insurance companies, Prime Minister Viktor Orban declared Wednesday at an insurance conference. Addressing a gathering organised by insurance association Mabisz, he acknowledged the uncertainty facing the sector but said insurance companies will play a larger role in the economy after the crisis than they did earlier. more » "Auto parts maker Robert Bosch laid the foundation stone of a Ft 6 billion development centre in Budapest. The first phase of construction of the 32,000m2 centre will be completed in the first part of 2013, and the project will be finished in 2014, creating 1,000 jobs. more »|
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