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EU commission calls for action against Greece, Hungary on deficits


The EU executive commission determined Wednesday that efforts by Greece and Hungary to control public spending had been insufficient and urged European Union finance ministers to approve disciplinary action against the pair.
more  news »

Hungarian PM Rejects EU Criticism


Prime Minister Ferenc Gyurcsany on Wednesday reacted defiantly to the European Union's criticism of Hungary's high budget deficit, saying the country remained on track to adopt the euro in 2010.

more current affairs news »

Britain is Europe's foreign languages dunce, study shows


Britain really is the languages "dunce" of Europe. Research to be published in the new year will show that fewer people in Britain can speak a second language than anywhere else in the continent. Only one in three Britons can speak a second language - compared with 98 per cent in Luxembourg, which tops the table.
more community & culture news »

U.S. denies extension of CompoBus "Buy America" waivers


The U.S. Federal Transit Administration (FTA) denied Hungarian busmaker NABI's request to extend the FTA's waivers of "Buy America" regulations as they applied to NABI's manufacturing of CompoBus, NABI said in a statement.

more business & finance news »

Holiday season indulgence worth every Ft


SORRY to all of those reading this review hoping for some cruel restaurant bashing. This week's outing is all hallelujahs:

I could not find a single fault with the Gresham Kávéház of the Four Seasons Hotel.

more dining guide news »

MÁV chairman resigns


László Udvari, Chairman of national railways company MÁV Rt tendered his resignation on 15 December to Transport Minister János Kóka, who accepted it, Internet portal www.magyarorszag.hu said.

more current affairs news »

OTP's Csányi eyes west European acquisition


Hungary's leading commercial bank OTP is looking at three possible acquisition targets in Western Europe, its Chairman-CEO Sándor Csányi told business weekly Figyelõ.

more business & finance news »

Open Workshop New Year's Eve


"Calling all English speaking jazz lovers in Budapest!"
more entertainment news »

Hungary court orders K&H to pay local govt $18 mln


An arbitration court ordered Hungary's second-largest bank, K&H Bank, to pay 3.4 billion forints ($18.5 million) to Budapest's 10th district in connection with a fraud case, the district's mayor said on Tuesday.

more current affairs news »

Vatican and Hungary clash over financing treaty


The Vatican has clashed with Hungary's centre-left government over the financing of Church-run public institutions in the former Communist country.

more current affairs news »

EU to announce deficit action against Greece, Hungary: source


The European Commission is set to pursue disciplinary action against Greece and Hungary Wedensday for breaching EU public deficit rules, an EU source said here.

more  news »

MOL debuts 2.8% firmer in Warsaw, pulls along price in Budapest


Oil group MOL shares opened with a 2.8% rise on the Warsaw Stock Exchange where they began to trade on Wednesday. The rise pulled along the price in the Budapest Stock Exchange as well, pushing MOL shares to above HUF 13,000.

more business & finance news »

Hungary rate cut heralds more easing, budget a risk


Hungary's central bank (NBH) delivered its seventh and last rate cut for 2004 on Monday, and monetary easing is set to continue next year when an enlarged Monetary Council may pursue a more dovish policy.

more business & finance news »

U.S. agrees to Nazi "gold train" settlement


The U.S. government has agreed to settle a lawsuit with tens of thousands of Hungarian Holocaust survivors over a trainload of gold, jewelry and other property seized by the U.S. Army at the end of World War Two, lawyers said on Monday.

more current affairs news »

Hungary 2nd EU member to ratify new constitution


Hungary approved the new European Union constitution in a parliamentary vote on Monday, becoming the second member in the 25-nation bloc, after Lithuania, to do so.

more  news »





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