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Montenegro says Matav bid most for telecoms firm


Hungarian telecommunications group Matav made the highest bid for a 51 percent stake in Montenegro's state telecom company Telekom Crne Gore, officials said on Wednesday.

more it & telco news »

Szentkiralyi sees 2004 water sales soar


Szentkiralyi Asvanyviz has posted a huge leap in bottled mineral water sales. The water company sold over 40m bottles last year, compared to 10.5m in 2003, the year of the company’s formation.
more business & finance news »

Accenture and Indus to Help Paks Nuclear Power Plant Improve Core Asset Management Capabilities


Accenture and Indus International Inc. have signed a multi-year agreement with Paks Nuclear Power Plant, which generates 40 percent of Hungary's electrical energy, to help the Hungarian company improve its core asset-management capabilities by optimizing its plant operations, maintenance and information technology infrastructure. Financial terms were not disclosed.

more business & finance news »

Siemens wins contract for Bp metro


The Siemens group won a euro 26 million tender to help renovate a section of the Budapest underground, the German manufacturer said yesterday.
more getting around news »

How liberal is Hungary's economy?


Hungary ranks the 35th position with 2.4 points in the 2005 list of “Index of Economic Freedom" which covers 155 countries. Hungary is just behind the Czech Republic and Israel and just before Slovakia. Hungary was the seventh best improving country in one year with a 0.2 point advance, and can be considered “mostly free" on a scale from “free" to “repressed". Hong Kong retained its leading position ahead of Singapore on the list, prepared for the 11th year by The Wall Street Journal and The Heritage Foundation. The index is calculated by 10 factors and it has happened for the first time that the United States failed to be in the first 10 countries.

more business & finance news »

Freesoft buys up MoolTech


Hungarian software company FreeSoft announced on Wednesday that it would buy up IT company MoolTech Informatikai Szolgáltató és Fejlesztõ Kft.
more  news »

Tschibo moves production from Hungary


Barely a year after Kraft Foods Hungária Kft discontinued coffee production in Hungary, market leader Tschibo Budapest Kft also announced plans to close down its Hungarian coffee plant with and move production to Vienna and Hamburg in H1 2005.
more business & finance news »

Hit by puck, she slaps


A Manhattan woman went to a hockey game - and a lawsuit broke out.
more sports news »

Eastern bloc prospers as 'old Europe' falters


YOU could have doubled your money last year, had you invested in European stocks. Not in Frankfurt or in Paris, where an index tracking fund would have yielded niggardly returns of 4 per cent and 7 per cent, respectively. In order to realise the biggest gains you needed to move your money east.
more business & finance news »

Referendum blues


Last year, all 25 member states of the European Union solemnly signed up to a new constitutional treaty that is supposed to make the enlarged EU more democratic, more effective and more transparent. Now the 25 governments have to get that document ratified in their national parliaments. At least 10 are proposing to hold national referendums on what is a long (nearly 300 pages) and complicated document.

Barely a third of their voters say they are well informed about what it contains. It is high time that the member states launched a comprehensive programme to enlighten and explain if they want to win positive support for such a fundamental treaty.
more  news »

Springer Steps Up Its Eastward Push


Fakt, Poland's top tabloid daily, is published by a German company. And not just any German company: Its founder, Axel Springer, was such a rabid anticommunist that he chose to erect the company's West Berlin offices near the Berlin Wall so that he could look down, literally, on East Germany's leaders.
more current affairs news »

Aranypók faces liquidation


Aranypók Trading Rt may be liquidated, if an investor is not found. The clothing retail chain has a long history and has just been chosen from one of the 400 “Superbrands” - the most respected brands in Hungary, but still may end up like Keravill, another “post-socialist” retailer, which was closed few weeks ago. The company has 36 well-located shops in Budapest and a well-known brand name; which may attract an investor. (Nv 5) G.R.

more business & finance news »

Philip Morris shuts down factory in Eger


Philip Morris Hungary Kft shut down production, as planned, at its cigarette factory in Eger (NE Hungary) at the start of the year, a spokeswoman for the company said yesterday. Philip Morris has made cigarettes at the factory since 1992.
more business & finance news »

Books & Bytes in Budapest, Hungary


On a cold winter day there is nothing nicer than nestling down in a big armchair with a book and a cup of coffee or tea. Budapest now has several bookshops which offer just this service for visitors. Right in the center of the city, on the great boulevard of Andrassy ut, you will find the Irok Boltja (Writers Bookshop).
more community & culture news »

MÁV to lease vehicles for over HUF 6 bn


Hungarian railways MÁV is to lease passenger cars and trucks from LeasePlan Hungary for HUF 6.178 billion in the next four years, national newswire MTI reported on Tuesday.

more getting around news »





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