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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.
more business & finance news »

Pannon GSM Has Acquired a 3G License in Hungary


Telenor's mobile arm in Hungary, Pannon GSM (Pannon), has acquired one of the UMTS licences in Hungary, a "C" licence, for HUF 19 billion, equivalent to NOK 630 mill. The licence fee is payable with 5.5 billion HUF in 2004, and the
remaining in three yearly installments.

more it & telco news »

OTP buys Croatian bank for 236 mln euros


Hungary's OTP Bank won the bidding for Croatia's Nova Banka on Wednesday but analysts said the 236 million euro price tag for Croatia's seventh largest bank was anything but cheap.

more business & finance news »

More hurdles for Heineken acquisition


Heineken’s ongoing attempt to buy the remaining shares of Brau Union Hungaria is under threat. Hungarian financial watchdog PSZAF has called on the Dutch company to provide more information related to the public offer it made for the outstanding shares of the Hungarian brewery.
more business & finance news »

High price for high-speed mobile licenses in Hungary


The T-Mobile unit of Deutsche Telekom and the Pannon GSM unit of Telenor said Wednesday that they had won licenses to provide high-speed mobile phone service in Hungary, but analysts said they might have paid too much in their effort to stay ahead in the competition for customers in the new European Union member nation
more it & telco news »

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 »

New pipe works to be built at South Budapest site


In Hungary, SW Umwelttechnik will be extending its market shares by building an automated pipe works at its South Budapest site. This investment, scheduled for 2005, will double Hungarian capacity, enabling the company to take opportunities to export to neighbouring CEE countries as well as serving the local market. The new factory will also add to SW Umwelttechnik?s competitive edge by enhancing quality standards.

more business & finance news »

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.



more getting around news »

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.

more it & telco news »

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.

more it & telco news »

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.

more travel news »





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