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Gloomy forecast for residential real estate

A steep 6%-8% rise in the price of construction materials, land for development and labor costs on the one hand and flagging demand on the other will put residential real estate developers in a double whammy next year, market research company GKI Rt and industry sources concurred.
more real estate news »

The “Best" of BSE in 2004: chosen best newsroom fifth time in a row - Thank you!

The Budapest Stock Exchange held its traditional year-end party on Tuesday evening, where it also presented awards to the best players on the capital market. Prime Minister Ferenc Gyurcsány, Finance Minister Tibor Draskovics and Minister of Economic Affairs János Kóka have also attended.

more current affairs news »

EU wheat export subsidies unlikely yet

The European Commission is unlikely to revive politically sensitive wheat export subsidies this week despite pressure from France to kick-start a sluggish shipment season, traders and analysts said on Wednesday.

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Hungary's Matav to cut management positions

Hungarian telecommunications group Matav said on Wednesday it will cut the size of its management and cut its organisational units from January 1, as a 25 percent headcount reduction requires smaller management.

more it & telco news »

Hungary's MOL to publish Warsaw prospectus Thurs.

Hungarian oil and gas firm MOL on Thursday will publish a prospectus detailing its planned listing in Warsaw, Central Europe's largest bourse, the company said late on Wednesday.
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1 in 10 emails infected with Christmas virus

The W32/Zafi-D worm, which was discovered on Tuesday posing as a Christmas greeting, has continued to cause problems for unprotected computer users.

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Visitors look to Huszti magic

Ferencváros trained at Murrayfield last night clinging to the faint hope they can still qualify for the last 32 of the UEFA Cup. They will have to beat Hearts at least 3-0 and hope Basle lose heavily against Feyenoord in Switzerland for that to happen.
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Revenue at GTS-Datanet jumps

Thanks largely to a Ft 1.5 billion investment implemented this year, revenues at GTS-Datanet Kft jumped 13% in 2004 exceeding the Ft 10 billion mark, the telecommunications company said. GTS is poised for more investments and acquisitions next year and hopes to boost its sales by 20%. Established in Hungary 11 years ago, GTS-Datanet currently has 65,000 clients, mostly small companies and private customers. (Nv 5, Vg 13) S.F.

more it & telco news »

Audi Hungária to up sales to EUR 4 bn in 2004 from EUR 3.7 bn in 2003

Audi Hungária Motor, the Hungarian subsidiary of Volkswagen AG's premium auto unit Audi, said on Wednesday that it would post sales of EUR 4 billion in 2004, up from EUR 3.7 billion last year, national newswire MTI reported.
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Hungary Szerencsejáték sees HUF 4.7 bn pre-tax profit in 2004

State-owned gambling company Szerencsejáték expects to post HUF 4.7 billion pre-tax profit in 2004, double the target, national newswire MTI quoted CEO Gábor Székely as saying on Wednesday.

more business & finance news »

Hungary govt signs wage deal with public employees

Hungary's public sector employees, who make up nearly a quarter of the country's workforce, accepted a wage agreement on Tuesday that will give them a six percent gross wage increase next year.

more current affairs news »

Hungary court orders referendum recount

Hungary's highest court has ordered a recount of two failed referendums -- on giving citizenship to ethnic Hungarians abroad and on healthcare privatisation -- but the outcome was unlikely to change.

more current affairs news »

Hungary farmers offered 2.7 mln T grain to EU -MTI

Hungarian farmers have offered 2.7 million tonnes of grains into the EU's intervention stocks so far, which accounts for about 60 percent of all EU intervention offers, local news agency MTI said on Tuesday.

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Vodafone to move

In this year’s largest office lease deal, Vodafone Hungary Rt has decided to move to offices in the Millennium City Center in District 9 from May 2006, the BBJ learned last week.

more it & telco news »

Synergon gets Ft 400 mln contract

IT company Synergon Rt has signed a Ft 400 million contract to further develop the IT platform of MOL Földgázszállító Rt, Hungarian oil and gas company MOL’s gas transmission company. The project should be completed by next year
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