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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).

more travel news »

OTP Managers Trade Own Shares

Top executives of Hungary’s largest bank OTP Bank Rt. have been buying and selling large numbers of OTP shares recently, cashing in on skyrocketing share prices.

more business & finance news »

Auto dealers set to sue state

The National Associations of Hungarian Auto Dealers (MGOE) announced that it would sue the Hungarian state, claiming that the registration fee introduced last year and fees imposed on used cars of 4–8 years old 50% higher than on new ones, should be paid in proportion to the value of the car.
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Hungary OTP EPS upped,target dropped

Investment bank JPMorgan has raised its earnings per share forecasts for Hungary's biggest private sector bank, OTP , but has suspended its price target for the stock after its strong rally.

more business & finance news »

MOL consortium makes 2nd Pakistan Tal find

Hungary's MOL said a consortium in which it holds a 10 percent stake had made a second discovery of oil and gas in the Tal Block, located in the Northern Western Frontier Province of Pakistan.

more business & finance news »

Hungary Nov industrial output beats expectations

Hungary's industrial output rose faster than expected in November as exports remained steady and domestic sales bucked a recent slower trend to produce modest growth, the Central Statistical Office (KSH) said.

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Hungary trio won't beton on for Livi yet

LIVINGSTON have failed to bring in three Hungarian players in time to play in tonight's tricky Scottish Cup tie against Morton.
more sports news »

Businessman Nobilis buys 49% stake in portal site Index for HUF 1 billion

Hungarian businessman Kristof Nobilis, one of the country's richest men, has acquired a 49% stake in Rt, the operator of portal site Index, according to the daily Nepszabadsag. The purchase price was reportedly around HUF 1 billion.

more business & finance news »

PM Criticized For Pope Visit

Prime Minister Ferenc Gyurcsány was loudly criticized by Hungarian opposition for his statements during his recent visit to Pope St. John Paul.

more current affairs news »

K&H Ordered To Compensate Clients

The arbitration court of the stock exchange ruled that K&H Equities Rt. has to pay Budapest’s District 10 Municipality HUF 3.4 billion in compensation for damages.
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Citizens Advisers Analyst to Lecture at Central European University

Today Citizens Advisers announced Dr. Vesela Veleva, social research analyst, will conduct a series of lectures and a seminar for graduate students and faculty at Central European University (CEU) in Budapest, Hungary, on January 11 through January 18, 2005.
more community & culture news »

Ericsson selected to deliver T-Mobile's UMTS network in Hungary

Ericsson has been selected by T-Mobile Hungary, a mobile operator in Hungary who recently have been awarded a 3G license, to roll out its 3G network. A letter of intent is signed for a framework agreement where Ericsson will provide radio access and core network systems and equipment, including related network roll out services.
more it & telco news »

Rock 'n' roll diplomacy shakes up a New York club

The U.S. ambassador to Russia really rocked _ on drums.
And the Hungarian ambassador to the United States rocked, too _ on lead guitar.
more entertainment news »

Siemens excluded from MÁV tender

Siemens Rt has been excluded from the tender of Hungarian Railways MÁV Rt to supply trains for its suburban lines, according to unnamed sources. MÁV announced the tender last September and will spend Ft 40 billion on the purchase of new trains.
more getting around news »

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