German phone carrier Deutsche Telekom's Hungarian unit Matav is looking at a bid for Montenegro's state phone company, which is being privatised, a German newspaper reported on Thursday.

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Hungary's GDP rose 4.2% in the first quarter of 2004, according to preliminary data released by the Central Statistical Office (KSH) Wednesday. The figure is significantly above consensus expectations of 3.53-3.59% growth (Napi Gazdasag, Reuters).
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Israel's second largest bank, Bank Leumi, is planning to open a branch in Budapest in the near future, according to Israeli daily Haaretz. The new branch will have no employees except Oded Shorer, husband of Israel's ambassador to Hungary, Judith Varnai Shorer.
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The Employment and Labor Ministry has drafted a proposal to the government to give preference to companies with a flawless tax profile when allocating state grants and other forms of discretionary funding to promote legal employment, senior official János Kutas said.
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China came from behind to score a morale-boosting win over Hungary in an international friendly in Tianjin on Tuesday. A last minute penalty by Zheng Zhi gave the home side a 2-1 win after they had trailed to an early goal by the eastern European side.
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The opposition conservative Citizens Party (Fidesz) continues to lead all political organizations in Hungary, according to a poll by Gallup. 32 per cent of respondents would support Fidesz, a one per cent increase since October 2003.

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Austrian strategic investor DDSG and the Ukrainian-Swiss Donbass-Duferco consortium made the highest of five bids in the privatization tender of river shipping corporation Mahart Duna-Cargo Rt, unnamed sources have reported.
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The Swedish Skanska Group has sold its Hungarian subsidiary Skanska Hungária Construction Kft to Finnish-Hungarian Tranzit Ma-Finn Construction Kft. Tranzit was established by the management of Skanska.
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Hungary's economy grew an annual 4.2% in the first quarter, the fastest in three years, as companies boosted production and investment. Gross domestic product rose 1.1% from the previous quarter, while investment by all companies rose an annual 18.9%, the highest in more than five years, up 4.6% from the previous quarter. Hungary's exports rose 11 % in March.
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The Hellenic Telecommunications Organisation (OTE) vehemently denies reports that its Olympic overhaul of the Greek telecoms infrastructure is badly behind schedule, stressing that all relevant technology is in place, Athens News reports.
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Hungarian telecom firm Invitel said on Tuesday it appointed Martin Lea as chief executive officer from 2 June. With a background in Sales and Marketing, he has spent the last 12 years leading businesses with sales of up to EUR 450 million, within the support services, telecommunications and network integration sectors. His international management experience extends across America, Europe and Asia, Invitel said in a statement.

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Leading Hungarian telecom group Matáv said on Wednesday it signed a loan agreement with its majority owner Deutsche Telekom for a HUF 60 billion loan. The loan will be used to partially finance Matáv’s recently announced dividend payment, the company said in a statement.

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Hungary’s gross domestic product (GDP) rose by 4.2% year on year in the first quarter of 2004, according to preliminary figures, said the Central Statistics Office (KSH) on Wednesday.
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MOL Hungarian Oil and Gas Company is not a takeover target, CEO Gyorgy Mosonyi told news agency Bloomberg in an interview.

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ING Real Estate Investment Management has launched a property fund for central Europe which aims to have a portfolio of 600 million euros ($733.1 million), the company said in a statement.
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