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Sunday 19 Apr 2015
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EU Parliament endorses first constitution

The European Parliament overwhelmingly endorsed the European Union’s first constitution on Wednesday but the treaty will only come into force if all 25 member states ratify it, several by referendums.

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Czink through in Canberra

MELINDA Czink of Hungary progressed to her first ever WTA semi-final with a straights win today at the Canberra Women's Tennis Classic.
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Will Fitch's downgrade affect 24 January rate decision?

Fitch Ratings, the international rating agency on Wednesday announced that it has downgraded Hungary's long-term local currency rating to 'A' from 'A+' and revised the outlook on the local currency rating to 'stable' from 'negative'. At the same time the agency affirmed the long-term foreign currency rating at 'A-' (A minus), the short-term rating at 'F2' and the country ceiling at 'A+'. The outlook on the long-term foreign currency rating remains negative. Budget woes are behind the downgrade. The National Bank of Hungary's Monetary Council will hold its next rate-setting meeting on 24 January. Analysts and fund managers have so far typically expected a 50 basis point cut. Now we asked market players whether Fitch's move would influence the outcome of the rate decision. The market is mixed about the possible impact of today's move."

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Allianz Hungary Expands Third Party Auto Coverage

Allianz Hungária announced that it has introduced new features to serve its motor third party liability insurance customers, and has further strengthened its position as the market leader in the country.
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Gov’t Hikes Drug Prices

Health Minister Jenõ Rácz announced that the government will not raise prices of about 6,000 types of prescription drugs.
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Sweden 3 Hungary 0

Fredrik Ljungberg, Henrik Larsson and Anders Svensson were all on target as a Sweden, without the injured Zlatan Ibrahimovic, brushed aside Hungary in Stockholm.
Ljungberg opened the scoring midway through the first half and that's the way it stayed until five minutes after the interval, when Barcelona striker Larsson made it 2-0.

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Three investor groups bid for Hungexpo

Three potential investors placed submitted their bids on Tuesday for a majority stake in exhibition organisation company Hungexpo Rt, state privatisation agency ÁPV said in a statement.

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Csányi acquires Alexand-Air

OTP chief Sándor Csányi has acquired exclusive ownership in Alexand-Air Kft, an aircraft hiring and carrier company, business daily Napi Gazdaság reported. Alexand-Air, which has registered capital of Ft 50 million, was jointly established by business tycoon Kristóf Nobilis in 2003 and sold to OTP Rt deputy-CEO Zoltán Spéder last year. Csányi is now said to have taken over the company through assignment. (NG 1) S.F.

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HP wins tender in Eger region

HP Magyarország Kft has won a procurement tender to set up an IT platform for the municipality of Eger and a number of surrounding towns for a gross Ft 617 million.
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New budget airline from March

Irish low-cost carrier EUjet is set to launch flights between Budapest and Manston, Kent, from March, the company confirmed last week. Starting on March 28, two weekly flights will connect Kent International Airport – 50 miles east of London – with Budapest’s Ferihegy Airport.

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Risks seen in Matáv’s new bid

Hungary’s largest telecom, Matáv Rt, is likely to acquire Montenegro’s state telecom company, but this might not be a very advantageous deal for Matáv and needs to be followed by some larger buyouts, analysts told the BBJ.

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Hungarian Finmin sees 2005 budget on track

Hungary's budget should stay on course both in January and all of 2005, Finance Minister Tibor Draskovics said on Tuesday, voicing confidence the new EU member will avoid overshoots that have plagued it in the past.

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UN Assembly to convene Auschwitz commemoration day

A majority of the 191-member General Assembly agreed to a special session this month to mark the 60th anniversary of the liberation of Nazi concentration camps, the United Nations announced on Tuesday.

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Hungary expects to spend HUF 15 trillion on EU-backed developments in 2007-2013

Hungary's second National Development Plan (NFT), a program governing the use of EU funds in 2007-2013, could facilitate developments totaling HUF 15 trillion (USD 79 billion) in the country over the period, prime minister Ferenc Gyurcsany said at a conference on national development.
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State Airline Gets No Bailout

Malév Hungarian Airlines Rt. will receive neither a capital raise nor other forms of subsidies from its 99.95% owner, the State Privatization and Asset Management Rt. (ÁPV).

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