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Audi to invest Euro 1 bln over 5 yrs

Audi Motor Hungaria Kft intends to invest Euro 1 billion in Hungary in the next 5 years, the company’s PR manager Péter Lore announced. In scope of the developments new motor producing equipments will be set up in Gyor and technological modernization will also take place besides investments related to Audi TT’s successor make’s introduction in 2006. The company also wants to increase its workforce with engineers and skilled labor. (Vg 15) R.G.

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Rahimkulov focuses Antenna holdings to avoid squeeze-out

Firthlion Limited, a company that boosted its stake by its 5.01% to 10.17% in Antenna Hungária on Wednesday, is one of the interests of Megdet Rahimkulov, the majority owner of Kafijat, the very company that sold the package to Firthlion, business daily Napi Gazdaság said on Thursday.

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Hungary announces winners of UMTS tender

Hungary's National Communications Authority (NCA) announced on Wednesday that local mobile carriers T-Mobile and Pannon GSM would be UMTS owners, adding that talks were still underway with the country's third mobile phone company Vodafone.

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Budget airline Wizz says suing easyJet over ad

Central European budget airline Wizz air has filed a lawsuit in a Hungarian court against bigger European rival easyJet alleging that it damaged the firm's reputation, Wizz said in a statement on Tuesday.

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EU lauds newcomers on euro zone entry efforts

The European Union on Tuesday praised efforts of new members states to meet economic criteria that would allow them to adopt the euro between 2007 and 2010.

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Hungary OTP wins Croatia's Nova Banka-paper

Hungarian retail bank OTP has won a contest to purchase a 95.6 percent stake in Croatian seventh largest retail bank, Nova Banka, newspaper Nepszabadsag reported.

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Scriptwriter, producer collaborating on Cold War-era water polo game film

Hollywood scriptwriter Joe Eszterhas and producer Andrew Vajna, both Hungarian-born, are collaborating on a film about a Cold War-era water polo game known as "blood in the water," a film company said.

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Hungary Graphisoft buys 33,000 own shares, corrects price

Hungarian architectural software firm Graphisoft announced on Wednesday that on 7 December it purchased 33,000 treasury shares on the Budapest Stock Exchange (BSE).

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Hungary Denies Finance Minister Report

The government on Tuesday denied a newspaper report claiming that Finance Minister Tibor Draskovics soon would leave his post due to Hungary's rising budget deficit.

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Kelly Services Opens Office in Budapest, Hungary

Global staffing solutions leader expands into 27th country to provide temporary and permanent staffing solutions
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Suzuki recalls 1.3-litre Wagon R+ models

Suzuki’s Hungarian subsidiary Magyar Suzuki Rt has recalled all of its 1.3-litre Wagon R+ models because the vehicle’s gasline blocks up after long-term use.
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Budapest-Miskolc Motorway Completed

The official opening of the remaining 16-kilometer stretch of the M30 highway last Thursday connected Miskolc, Hungary’s second biggest town, to the country’s motorway network.

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Economy Minster Exits Businesses

Former IT tycoon Economy and Transport Minister János Kóka has parted from all his ownership in businesses, keeping only his stake in a family-owned company.

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E.Europe budget airlines play down rival's collapse

A day after the collapse of peer Air Polonia, East Europe's budget airlines on Monday sought to reassure passengers that they had enough cash to survive cut-throat competition in the promising market.

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Hungary sees relations back to normal after vote

Hungary's relations with neighbouring east European countries should improve after a failed referendum to give Hungarian minorities abroad dual citizenship, foreign minister Ferenc Somogyi said on Monday.

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