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The year's finest BEST BOOKS OF 2004


... Budapest by Chico Buarque, translated by Alison Entrekin (Grove Press; 183 pages; $19.95): Jose Costa, a rather self-absorbed professional ghostwriter who ...

more community & culture news »

''Hungary's Referendum on Dual Citizenship: A Small Victory for Europeanism''


As the European Union consolidates its expansion into Eastern Europe, its Western European core is forced to confront the consequences of its past as a competitive nation-state system.
more current affairs news »

BAT lowers Pall Mall price, deprives budget of revenues


British American Tobacco Hungary Kft, Hungary's leading tobacco firm, has recently reduced the price of its Pall Mall cigarettes by 12% from HUF 500 to HUF 440 per pack, business daily Napi Gazdaság reported on Monday.

more business & finance news »

Hungary says troops in Iraq must not risk combat


Hungary has told NATO that Hungarian troops training Iraqi army officers next year will carry out no tasks that involve a risk of combat, a government spokeswoman said on Wednesday.

more current affairs news »

Emerging FX-Rand soft ahead of rate decision, forint dips


The South African rand eased on Thursday weighed by a firmer dollar and nerves ahead of an interest rate decision later on, while the forint dipped after the Hungarian government repeated the currency was too strong. The dollar steadied against the euro and yen on Thursday after posting strong gains the previous session and the pause in the U.S. currency's steep decline induced caution among emerging market bulls.

more business & finance news »

Soccer-End of Champions League road for eastern European clubs


Eastern European clubs have again failed to make any impact on the later stages of the Champions League with none of the four who took part in the Group stage reaching the last 16.
more sports news »

Budget Airlines Boosting Hungary Tourism


The growing number of budget airlines serving Hungary have helped to significantly boost tourism revenues, government officials said Thursday.

more travel news »

MVM sells 679.4 GWh electricity in capacity auction


State power wholesaler MVM successfully auctioned 240 MW of generating capacity on Thursday, selling 679.4 GWh of electricity for the period from 1 January 2005 to 30 June 2005, MVM announced. The auction was approved and supervised by the Hungarian Energy Office.

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Hungary issues USD 100 million two-year bonds


The Government Debt Management Agency (AKK) launched a USD 100 million bond issue on Wednesday, managed by Deutsche Bank and Morgan Stanley. The two-year bonds will have variable interest rates, and mature on 15 December 2006.

more business & finance news »

BKV to increase tariffs


The Assembly of the Municipality of Budapest will decide next week on the tariff hikes BKV Rt will effect during 2005. The current plan calls for a 15% increase in January followed by a 5% increase in July.
more getting around news »

New logistics center for Kecskemét


Bertrans Freight, Storage and Commercial Rt is to open a new logistics center at the Kecskemét Industrial Park. The new center, built on a 9.1-acre land, consists of office buildings, customs inspection halls, and a reception desk and aims at providing service for Hungary based multinational subsidiaries as well as small and mid size firms of the region. The Ft 553 million investment has been partly sponsored by EU funds. (Vg 13) E.C.

more  news »

T-Mobile, Telenor win 3G Licenses


Deutsche Telekom AG's T-Mobile unit and Telenor ASA's Pannon GSM Rt won permits to provide high-speed mobile-phone licenses in Hungary as they look to stay ahead in the competition for the new EU nation's customers.
more it & telco news »

2005 changes in Hungary's tax legislation: Rules of Taxation - PWC


The purpose of the amendments to Act XCIII of 2003 on the Rules of Taxation (ART) that will take effect on 1 January 2005 is to simplify the procedural and administrative requirements applicable to taxpayers and to introduce modern tax administration procedures as part of the effort to better align Hungarian legislation with that of the European Union, PriceWaterhouseCoopers said in a comment on Thursday.

more business & finance news »

Hungary to open communist era police files


Hungary's ruling Socialists, heirs to the communists who were in power until 1989, announced plans on Wednesday to open communist era police archives in an attempt to face the truth about the country's past.
more current affairs news »

Hungary forint too strong, rates high-FinMin


Hungary's strong forint, caused by high interest rates, is damaging exports, and a flood of cheap imports is also hurting local firms, the country's finance minister told Reuters.
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