Hungarian telecommunications group Magyar Telekom beat expectations in the first half as the mobile segment performed above forecasts and amortisation costs fell sharply.

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The European Union's expansion into ex-communist eastern Europe last year has not opened a feared floodgate of cheap labour from new member states seeking jobs in the rich West, a study showed on Wednesday.

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Software developer Freesoft Rt published its financial figures for the first six months of this year.
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In the first half of the year, 1.5 million foreign visitors spent 4.4 million guest nights in commercial accommodation facilities in Hungary. Compared to H1 2004, the number of visitors grew by 10 % but the number of guest nights increased by 4 %. Visitors from the European Union accounted for 70% of all tourists. They spent 3.3 million nights in Hungary in January-June, the Central Statistics Office (KSH) reported on Wednesday.

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As Hungary’s three mobile operators knuckle down and prepare for the introduction of third-generation mobile telephony by the end of the year, the market remains finely poised.


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In 2005, 3 brands distributed by Beiersdorf were recognized as “Superbrands” by the organization Superbrands Hungary—NIVEA, the expert of skin care; Labello, the specialist of lip care; and Hansaplast, famous for its sticking plasters. This recognition acknowledges Beiersdorf’s expertise in skin care, allowing the company to secure a high standard on a permanent basis. The comprehensive body care family of Nivea has been recognized since 1911.

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Hungary's inflation will rise by 3.8% year on year in July, showed the median in a poll of 18 analysts by Portfolio.hu on Tuesday. The consumer price index will be +3.9% in December year on year and the base rate will be trimmed by a total of 50 basis points to 6.25%, according to the median data.

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Hungary has received nine indicative bids for Budapest Airport, the operator of Budapest's main international airport, in what is set to be the country's biggest privatisation deal of 2005, the government said.

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Hungary's incumbent operator Magyar Telekom will report HUF 155 billion revenues, EBITDA of HUF 65 billion and net income of HUF 21.6 billion for the second quarter of the year, Credit Suisse First Boston analysts István Máté-Tóth said on Monday.

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Austrian Gaming Industries GmbH (AGI), one of Europe's leading gambling manufacturers, will relocate its electronics production to its Hungarian subsidiary in Veszkény, west Hungary, unnamed sources said.


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Valeant Pharmaceuticals International today announced that it has sold its raw materials and manufacturing operations in Hungary to Sun Pharmaceutical Industries Ltd. of India. The operations sold were previously reported by Valeant as discontinued operations. Terms of the transaction were not disclosed.

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IT rights ombudsman Karoly Juhasz has initiated an investigation by the National Communications Authority (NHH) into T-Online’s cancellation of the internet access contracts of 50 clients who made what it deemed excessive downloads of up to 150-200 gigabytes per month. The clients in theory have contracts for unlimited access.

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Manchester United begin their annual pursuit of Champions League glory with the third round qualifier against Debrecen of Hungary this Tuesday (August 9).
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German automaker Audi's Hungarian unit had revenue of Euro 2.11 billion in the first half of the year, slightly less than Euro 2.15 billion in the same period a year earlier, Audi Hungária Rt said yesterday.

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Fund managers have never been so pessimistic about the short-term perspectives of the Budapest Stock Exchange (BSE) in the past six months, a portfolio.hu poll showed on Monday. Over 60% of the respondents expect a 5-15% correction on the bourse in the next three months.

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