http://www.bbj.hu/ Complete and independent daily business news from Hungary. en-us bbj@bbj.hu webmaster@bbj.hu PHP RSS Feed Generator The proposed the suspension for Hungary for 2013 should be seen as a strong incentive for Hungary to conduct sound fiscal policies and put in place the right macro-economic and fiscal conditions, said the European Commission on Wednesday. http://www.bbj.hu/economy/ec-proposes-suspension-of-eur495-mln-in-cohesion-fund-allocation-for-hungary_62699 2012-02-22T13:50:00Z http://www.bbj.hu/economy/ec-proposes-suspension-of-eur495-mln-in-cohesion-fund-allocation-for-hungary_62699 After an in-depth investigation, the European Commission has approved a 2009 recapitalization of HUF 30 billion and a loan of HUF 120 billion for the Hungarian bank FHB. http://www.bbj.hu/finance/ec-approves-2009-support-measures-for-hungarian-bank-fhb_62698 2012-02-22T13:35:00Z http://www.bbj.hu/finance/ec-approves-2009-support-measures-for-hungarian-bank-fhb_62698 The suspension of EU cohesion fund disbursements is "far from being a done deal and, in our view, is still unlikely", according to London-based JP Morgan. http://www.bbj.hu/economy/hungary-cohesion-fund-freeze-unlikely-says-city_62697 2012-02-22T13:25:00Z http://www.bbj.hu/economy/hungary-cohesion-fund-freeze-unlikely-says-city_62697 The Government Debt Management Agency sold a combined HUF 14.5 billion of 2012/B and 2012/C bonds before maturity at a repurchase auction on Wednesday. http://www.bbj.hu/economy/akk-buys-back-huf-145-bln-of-bonds-at-reverse-auction_62696 2012-02-22T13:20:00Z http://www.bbj.hu/economy/akk-buys-back-huf-145-bln-of-bonds-at-reverse-auction_62696 The average yield for investors on Hungary's property market is 7.5%, rising over the rate of return in Prague and Warsaw. http://www.bbj.hu/business/hungary-property-market-yield-higher-than-prague-warsaw_62695 2012-02-22T13:10:00Z http://www.bbj.hu/business/hungary-property-market-yield-higher-than-prague-warsaw_62695 About 80,000 employees at state-owned companies are eligible for HUF 22 billion in wage compensation this year, the Hungarian National Asset Management Company said on Wednesday. http://www.bbj.hu/economy/employees-at-state-owned-companies-due-huf-22-bln-in-wage-compensation_62694 2012-02-22T12:55:00Z http://www.bbj.hu/economy/employees-at-state-owned-companies-due-huf-22-bln-in-wage-compensation_62694 The government has decided to take necessary measures to meet Hungary's deficit targets for this year and 2013 by reducing state subsidies for medications and cutting central funds for BKV. http://www.bbj.hu/economy/govt-to-reduce-subsidies-for-medicines-public-transport-to-meet-deficit-target_62693 2012-02-22T12:20:00Z http://www.bbj.hu/economy/govt-to-reduce-subsidies-for-medicines-public-transport-to-meet-deficit-target_62693 Rail Cargo Hungaria, a unit of Austrian railway company OBB, signed two big contracts in January, and now wants to raise its market share from 80%. http://www.bbj.hu/business/rail-cargo-hungaria-seeks-to-boost-market-share-over-80percent_62692 2012-02-22T11:45:00Z http://www.bbj.hu/business/rail-cargo-hungaria-seeks-to-boost-market-share-over-80percent_62692 Hungarian vehicle instrument maker KMGy will soon start production with 20 workers at unit Tamgép's base in Tamási. http://www.bbj.hu/business/automotive-industry-supplier-kmgy-puts-new-capacity-online_62691 2012-02-22T11:35:00Z http://www.bbj.hu/business/automotive-industry-supplier-kmgy-puts-new-capacity-online_62691 90% of Hungarian borrowers with foreign currency-denominated mortgages could join a scheme that caps the exchange rates for repayments, Hungarian Banking Association chief secretary said late Monday. http://www.bbj.hu/finance/fx-mortgage-exchange-rate-limit-scheme-participation-rate-could-reach-90percent_62690 2012-02-22T11:35:00Z http://www.bbj.hu/finance/fx-mortgage-exchange-rate-limit-scheme-participation-rate-could-reach-90percent_62690 Hungarian bookseller Libri acquired 80.5% in online portal PORT.hu and announced a tie-up http://www.bbj.hu/business/bookseller-libri-and-online-portal-porthu-announce-tie-up_62688 2012-02-21T16:45:00Z http://www.bbj.hu/business/bookseller-libri-and-online-portal-porthu-announce-tie-up_62688 Seven times more one-week motorway vignettes have been sold since phasing out the four-day stickers on January 1 http://www.bbj.hu/business/sales-of-one-week-motorway-vignettes-jump-after-four-day-sticker-phased-out_62687 2012-02-21T16:35:00Z http://www.bbj.hu/business/sales-of-one-week-motorway-vignettes-jump-after-four-day-sticker-phased-out_62687 HESI's profit reached up to HUF 1.2 billion last year http://www.bbj.hu/business/revenue-of-baked-goods-company-hesi-climbs-20percent_62686 2012-02-21T16:30:00Z http://www.bbj.hu/business/revenue-of-baked-goods-company-hesi-climbs-20percent_62686 E-commerce was practically the only segment that kept Hungary’s retail sector afloat in 2011. While retail sales in general were stagnating for the most part of the year, online retail sales data show that this segment was able to grow by 17% from the previous year; total online retail sales accounted for around HUF 155 billion in 2011. http://www.bbj.hu/business/the-power-of-the-masses-social-shopping-conquers_62433 2012-02-21T08:00:00Z http://www.bbj.hu/business/the-power-of-the-masses-social-shopping-conquers_62433 http://www.bbj.hu/business/govt-officials-discuss-consolidation-of-troubled-sausage-maker_62679 2012-02-20T11:35:00Z http://www.bbj.hu/business/govt-officials-discuss-consolidation-of-troubled-sausage-maker_62679 Sales and output of Hungary's Chinese-owned chemicals company rose last year, but it "failed to achieve the original targets", Wanhua BorsodChem CEO said in an interview on Monday. http://www.bbj.hu/business/wanhua-borsodchem-sales-rise-but-miss-target_62678 2012-02-20T11:30:00Z http://www.bbj.hu/business/wanhua-borsodchem-sales-rise-but-miss-target_62678 http://www.bbj.hu/business/debrecen-inaugurates-huf-106-bln-eu-funded-health-center-development_62677 2012-02-20T11:00:00Z http://www.bbj.hu/business/debrecen-inaugurates-huf-106-bln-eu-funded-health-center-development_62677 A European Union official on Sunday confirmed  that the European Commission is investigating the recently introduced Hungarian food voucher system. http://www.bbj.hu/business/ec-investigating-hungarian-voucher-system_62675 2012-02-20T10:55:00Z http://www.bbj.hu/business/ec-investigating-hungarian-voucher-system_62675 An unnamed player of the Hungarian mobile telecommunications market has appealed against the result of the fourth mobile frequency tender, Világgazdaság reported on Monday. http://www.bbj.hu/business/frequency-auction-appeal-causes-delay-for-state-owned-consortium_62674 2012-02-20T10:50:00Z http://www.bbj.hu/business/frequency-auction-appeal-causes-delay-for-state-owned-consortium_62674 Motor home maker Knaus Tabbert will invest €900,000 at its base north of Budapest by the end of summer. http://www.bbj.hu/business/knaus-tabbert-to-undertake-eur900000-capacity-expansion_62673 2012-02-20T10:25:00Z http://www.bbj.hu/business/knaus-tabbert-to-undertake-eur900000-capacity-expansion_62673 Hungary's state-owned Mecsek-Öko and Mecsekérc team up with Australia's Wildhorse Energy to start Uranium mining in the Mecsek hills. The project is expected to be one of Europe's biggest. http://www.bbj.hu/business/wildhorse-energy-to-establish-uranium-exploration-jv-in-hungary_62672 2012-02-20T10:20:00Z http://www.bbj.hu/business/wildhorse-energy-to-establish-uranium-exploration-jv-in-hungary_62672 The French Credit Agricole Bank is closing its branch in Hungary, the bank's press department in Paris announced on Monday. According to information by Napi Gazdaság, a Russian financial group is eyeing Credit Agricole's branch in Hungary. http://www.bbj.hu/finance/credit-agricole-bank-closes-branch-in-hungary_62671 2012-02-20T10:15:00Z http://www.bbj.hu/finance/credit-agricole-bank-closes-branch-in-hungary_62671 K&H Biztosító closed 2011 with after-tax profit of HUF 1.9 billion, up from HUF 800 million a year earlier. http://www.bbj.hu/finance/k-and-h-insurance-unit-profits-more-than-double-in-2011_62670 2012-02-20T10:10:00Z http://www.bbj.hu/finance/k-and-h-insurance-unit-profits-more-than-double-in-2011_62670 Cutting back on free college spots and funding, merging institutions and involving the private sector in public policy: this is the government’s answer to an underperforming higher education system and ranks of unemployed fresh graduates. http://www.bbj.hu/business/training-for-life_62207 2012-02-20T08:00:00Z http://www.bbj.hu/business/training-for-life_62207 Revised growth forecast for Germany has raised growth expectations for the CEE region. BNP Paribas now forecasts a 0.1% growth for Hungary, up from their previous prediction of a GDP fall of 0.9% in 2012. http://www.bbj.hu/economy/cee-hungary-growth-revised-up-by-city-analysts-on-stronger-german-outlook_62664 2012-02-17T17:55:00Z http://www.bbj.hu/economy/cee-hungary-growth-revised-up-by-city-analysts-on-stronger-german-outlook_62664 More than one million clients purchased new mandatory vehicle insurance contracts at the end of 2011, but only about 70% of them switched insurers, fresh PSzÁF data reveals. http://www.bbj.hu/business/more-than-1-mln-renewed-mandatory-vehicle-insurance-contracts_62663 2012-02-17T17:50:00Z http://www.bbj.hu/business/more-than-1-mln-renewed-mandatory-vehicle-insurance-contracts_62663 Hungarian Electricity Works approved on Friday a HUF 25 billion capital raise at its telecommunications unit. Shareholders decided to review the "possibility of playing a role" in preparations for the Hungarian stretch of the South Stream international gas pipeline. http://www.bbj.hu/business/mvm-shareholders-apportion-huf-25-bln-of-equipment-to-telco-unit_62660 2012-02-17T17:05:00Z http://www.bbj.hu/business/mvm-shareholders-apportion-huf-25-bln-of-equipment-to-telco-unit_62660 Members of the Hungarian Factoring Association bought 3.3% more receivables in 2011 than a year earlier, but the market grew at a slower rate than expected.  http://www.bbj.hu/business/hungary-factors-buy-huf-888-bln-of-receivables-in-2011_62659 2012-02-17T16:40:00Z http://www.bbj.hu/business/hungary-factors-buy-huf-888-bln-of-receivables-in-2011_62659 The answer of the Hungarian government addresses the independence of its central bank and data protection authorities, measures affecting the judiciary, and two further questions, brought up by the EU. http://www.bbj.hu/politics/hungary-responds-to-eu-infringement-procedures_62657 2012-02-17T16:30:00Z http://www.bbj.hu/politics/hungary-responds-to-eu-infringement-procedures_62657 The government's conditions on the capital's public transport company BKV were realistic and could be fulfilled, said Budapest mayor after a meeting with government officials on Friday. http://www.bbj.hu/economy/mayor-leaves-govt-talks-on-bkv-with-cautious-optimism_62656 2012-02-17T16:15:00Z http://www.bbj.hu/economy/mayor-leaves-govt-talks-on-bkv-with-cautious-optimism_62656 Russian Sberbank aspires to be Hungary’s leading retail bank, the new owner said at a press conference today in Budapest where the completion of the 100%/ acquisition of Volksbank International AG was announced. http://www.bbj.hu/finance/sberbank-completes-volksbank-acquisition_62654 2012-02-17T13:30:00Z http://www.bbj.hu/finance/sberbank-completes-volksbank-acquisition_62654 Hungary's government net financing requirement rose to 5.1% of GDP in the fourth quarter of 2011 and reached 4.5% of GDP for the full year, preliminary financial account data by MNB reveal. http://www.bbj.hu/economy/hungary-net-govt-financing-requirement-45percent-of-gdp-in-2011-without-pension-transfer_62653 2012-02-17T12:55:00Z http://www.bbj.hu/economy/hungary-net-govt-financing-requirement-45percent-of-gdp-in-2011-without-pension-transfer_62653 Hungarian insurers' combined revenue from premiums was down 2.7% in 2011, Hungarian Insurers Association data show. http://www.bbj.hu/finance/hungary-insurers-premiums-revenue-slips-to-huf-821-billion-in-2011_62652 2012-02-17T12:45:00Z http://www.bbj.hu/finance/hungary-insurers-premiums-revenue-slips-to-huf-821-billion-in-2011_62652 The net financing capacity of households was 7.7% of the GDP in Q4, boosted by the early repayment scheme, fresh data from MNB reveal. http://www.bbj.hu/finance/early-fx-mortgage-repayments-boost-net-household-savings-in-q4_62650 2012-02-17T12:35:00Z http://www.bbj.hu/finance/early-fx-mortgage-repayments-boost-net-household-savings-in-q4_62650 Prime Minister Viktor Orbán and his Georgian counterpart Nika Gilauri agreed on the significance of establishing a liquefied natural gas transporter pipeline that would run from Azerbaijan to Central Europe. http://www.bbj.hu/business/hungarian-georgian-pms-agree-on-importance-of-agri-pipeline_62651 2012-02-17T12:35:00Z http://www.bbj.hu/business/hungarian-georgian-pms-agree-on-importance-of-agri-pipeline_62651 http://www.bbj.hu/life/liszt-ferenc-international-closes-one-runway-because-of-snow-_62648 2012-02-17T11:40:00Z http://www.bbj.hu/life/liszt-ferenc-international-closes-one-runway-because-of-snow-_62648 http://www.bbj.hu/business/rare-diseases-abundant-resources_62644 2012-02-16T20:40:00Z http://www.bbj.hu/business/rare-diseases-abundant-resources_62644 The number of mobile phone subscriptions  dropped in January, while market penetration only fell slightly. http://www.bbj.hu/business/hungary-mobile-phone-subscriptions-drops-in-january_62642 2012-02-16T16:30:00Z http://www.bbj.hu/business/hungary-mobile-phone-subscriptions-drops-in-january_62642 Hungary should wait with foreign bond issues planned for 2012 until after the IMF agreement is sealed, says National Economy Ministry's state secretary. http://www.bbj.hu/economy/hungary-likely-to-wait-on-foreign-bond-issues-till-after-imf-eu-deal_62643 2012-02-16T16:25:00Z http://www.bbj.hu/economy/hungary-likely-to-wait-on-foreign-bond-issues-till-after-imf-eu-deal_62643 The Budapest Property Market Index measured 93.6 points in January, up from 92 points in October. New and resale home market saw some livening in January, but prices fell. http://www.bbj.hu/economy/budapest-property-market-index-little-changed-in-january_62640 2012-02-16T16:15:00Z http://www.bbj.hu/economy/budapest-property-market-index-little-changed-in-january_62640 A €2.7 million sparkling wine plant is being built by Hungarian investors in Carastelec, Romania, and is expected to be completed by January 2013. http://www.bbj.hu/business/hungarian-investors-build-eur27-mln-sparkling-wine-plant-in-romania_62641 2012-02-16T16:15:00Z http://www.bbj.hu/business/hungarian-investors-build-eur27-mln-sparkling-wine-plant-in-romania_62641 The National Bank of Hungary should leave the base rate unchanged until the IMF agreement; after the deal, a rate-cut cycle should begin, Monetary Council members say. http://www.bbj.hu/economy/hungary-should-hold-rates-until-imf-agreement_62639 2012-02-16T15:55:00Z http://www.bbj.hu/economy/hungary-should-hold-rates-until-imf-agreement_62639 Hungary's Government Debt Management Agency sold HUF 50 billion twelve-month discount T-bills on Thursday at an auction; yields declined from the previous one but were over the secondary market benchmark. http://www.bbj.hu/economy/akk-sells-announced-huf-50-bln-twelve-month-t-bills-_62638 2012-02-16T15:40:00Z http://www.bbj.hu/economy/akk-sells-announced-huf-50-bln-twelve-month-t-bills-_62638 Central bank governor says that the agreement with the IMF would provide a safety net for Hungary. http://www.bbj.hu/economy/imf-eu-agreement-indispensable-to-restoring-confidence_62637 2012-02-16T15:20:00Z http://www.bbj.hu/economy/imf-eu-agreement-indispensable-to-restoring-confidence_62637 Brussels is concerned about the Hungarian voucher system, after receiving complaints about its discriminative nature towards multinational supermarket chains. http://www.bbj.hu/business/brussels-asks-hungary-for-information-on-voucher-system_62636 2012-02-16T14:30:00Z http://www.bbj.hu/business/brussels-asks-hungary-for-information-on-voucher-system_62636 The new mortgege bond purchase program to be launched by the National Bank of Hungary would be untimely, because of projections for low demand for credit and declining lending activity, OTP executive says. http://www.bbj.hu/finance/changes-to-mortgage-bond-issue-system-not-timely_62635 2012-02-16T14:15:00Z http://www.bbj.hu/finance/changes-to-mortgage-bond-issue-system-not-timely_62635 Hungarian insurer CIG Pannónia had success at narrowing down losses in 2011 from 2010, by keeping costs down. http://www.bbj.hu/business/cig-pannonia-losses-narrow-as-premiums-revenue-climbs-costs-controlled_62634 2012-02-16T14:05:00Z http://www.bbj.hu/business/cig-pannonia-losses-narrow-as-premiums-revenue-climbs-costs-controlled_62634 The Hungarian government will send a letter to Brussels on infringement procedures on Friday, concerning the new Central Bank Act, the data protection authority, and the mandatory retirement age for judges. http://www.bbj.hu/politics/govt-ready-with-answer-to-commission-on-infringement-procedures_62632 2012-02-16T13:35:00Z http://www.bbj.hu/politics/govt-ready-with-answer-to-commission-on-infringement-procedures_62632 Liszt Ferenc International Airport Budapest lays off 250 people and suspends investments because of the grounding of national carrier Malév. http://www.bbj.hu/business/budapest-airport-announces-layoffs-because-of-malev-grounding_62631 2012-02-15T17:20:00Z http://www.bbj.hu/business/budapest-airport-announces-layoffs-because-of-malev-grounding_62631 Hungarian oil and gas company MOL and Russian peer Gazprom decided against building an underground gas storage facility. http://www.bbj.hu/business/mol-and-gazprom-decide-against-joint-gas-storage-facility_62630 2012-02-15T17:10:00Z http://www.bbj.hu/business/mol-and-gazprom-decide-against-joint-gas-storage-facility_62630 Investment funds assets in Hungary fell 2.4% to HUF 3.183 billion in January from the previous month. http://www.bbj.hu/business/investment-fund-assets-fall-24percent-in-january_62629 2012-02-15T17:05:00Z http://www.bbj.hu/business/investment-fund-assets-fall-24percent-in-january_62629 MNB's Monetary Council voted to raise the bank's key rate by 50bp to 7.5%, while the external members voted to keep the rate on hold at a meeting on January 24. Key rate remained at 7%. http://www.bbj.hu/finance/mnb-rate-setters-divided-over-january-rate-decision-minutes-show_62628 2012-02-15T16:50:00Z http://www.bbj.hu/finance/mnb-rate-setters-divided-over-january-rate-decision-minutes-show_62628 Germany's Diehl Aircabin has started production in its aircraft manufacturing base in Nyírbátor. http://www.bbj.hu/business/diehl-aircabin-starts-production-at-hungarian-base_62627 2012-02-15T16:45:00Z http://www.bbj.hu/business/diehl-aircabin-starts-production-at-hungarian-base_62627 Hungary's economy grew at a faster than expected clip in the fourth quarter, the data were a positive surprise for analysts. http://www.bbj.hu/economy/q4-gdp-growth-better-than-expected---analysts_62626 2012-02-15T16:30:00Z http://www.bbj.hu/economy/q4-gdp-growth-better-than-expected---analysts_62626 Profits of printing company Állami Nyomda  were under expectations last year, but company  CEO says long-term outlook is good due to new developments. http://www.bbj.hu/business/allami-nyomda-profits-under-expectations-ceo-says_62625 2012-02-15T16:10:00Z http://www.bbj.hu/business/allami-nyomda-profits-under-expectations-ceo-says_62625 The National Bank of Hungary (MNB) would offer banks two-year collateralized loans, will accept more securities as collateral and will launch a new universal mortgage bond purchase scheme. http://www.bbj.hu/finance/mnb-to-offer-2-year-collateralized-loan-mortgage-bond-buyback-to-prop-up-lending_62624 2012-02-15T16:05:00Z http://www.bbj.hu/finance/mnb-to-offer-2-year-collateralized-loan-mortgage-bond-buyback-to-prop-up-lending_62624 The European Commission has cleared a HUF 21.6 billion railway development project in the Záhony region. http://www.bbj.hu/business/european-commission-clears-huf-216-bln-railway-project-for-support_62623 2012-02-15T16:00:00Z http://www.bbj.hu/business/european-commission-clears-huf-216-bln-railway-project-for-support_62623 Long-time MKB Bank CEO Tamás Erdei is leaving his post; he will be succeeded by MKB's deputy-CEO Pál Simák. http://www.bbj.hu/finance/mkb-bank-ceo-to-step-down_62622 2012-02-15T15:50:00Z http://www.bbj.hu/finance/mkb-bank-ceo-to-step-down_62622 Hungarian vehicle and vehicle parts maker Rába had net income of HUF 1.72 billion in the fourth quarter of last year, which is a big improvement compared to a HUF 283 million loss in the base period. http://www.bbj.hu/business/higher-revenue-improved-margin-lift-raba-bottom-line_62621 2012-02-15T15:45:00Z http://www.bbj.hu/business/higher-revenue-improved-margin-lift-raba-bottom-line_62621 Output of Hungary's construction sector was down 0.8% in December from the same month a year earlier, according to Central Statistics Office (KSH). http://www.bbj.hu/economy/hungary-construction-sector-edges-down-08percent-yr-yr-in-december_62620 2012-02-15T15:40:00Z http://www.bbj.hu/economy/hungary-construction-sector-edges-down-08percent-yr-yr-in-december_62620 Hungary's GDP rose 1.4% yr/yr in Q4 last year, the Central Statistics Office (KSH) said in a first reading on Wednesday. http://www.bbj.hu/economy/hungary-gdp-grows-14percent-yr-yr-in-q4-up-17percent-in-2011_62619 2012-02-15T15:30:00Z http://www.bbj.hu/economy/hungary-gdp-grows-14percent-yr-yr-in-q4-up-17percent-in-2011_62619 The Municipal Court of Budapest has ordered troubled national carrier Malév under liquidation, and also extended by 90 days a moratorium on claims against Malév by creditors and suppliers. http://www.bbj.hu/business/court-orders-malev-under-liquidation_62618 2012-02-15T14:50:00Z http://www.bbj.hu/business/court-orders-malev-under-liquidation_62618 The excise tax on cigarettes will increase to HUF 11,500 per 1,000 pieces, or 30% of its retail price, from February 1 and to HUF 11,900, or 31% of the retail price, in July, according to legislation adopted in December. http://www.bbj.hu/economy/excise-tax-on-tobacco-products-to-increase-in-february-and-july--_62593 2012-01-31T17:45:00Z http://www.bbj.hu/economy/excise-tax-on-tobacco-products-to-increase-in-february-and-july--_62593 Chairman of the Board Janos Berenyi of Hungarian national carrier Malev said on Tuesday that the government’s Monday designation of Malev as a "business of prime strategic significance" is evidence of its commitment to the airline. http://www.bbj.hu/business/malev-board-chairman-says-government-committed-to-airline--_62592 2012-01-31T17:40:00Z http://www.bbj.hu/business/malev-board-chairman-says-government-committed-to-airline--_62592 The Budapest Stock Exchange’s blue-chip BUX index closed Tuesday trade down 0.95% to 18,891.07 as the publication of disappointing US manufacturing and consumer-confidence data weighed on sentiment among BSE investors. http://www.bbj.hu/finance/bux-loses-1percent-on-weak-us-economic-data_62591 2012-01-31T17:40:00Z http://www.bbj.hu/finance/bux-loses-1percent-on-weak-us-economic-data_62591 Hungarian households made more repayment in foreign currency than borrowed in forint in December 2011, the National Bank of Hungary (MNB) reported on Tuesday. Most of the FX repayments and all forint borrowing in the month were made under the government’s preferential-rate FX mortgage repayment scheme. http://www.bbj.hu/economy/update---household-debt-drops-with-preferential-fx-loan-repayments-in-december_62590 2012-01-31T15:20:00Z http://www.bbj.hu/economy/update---household-debt-drops-with-preferential-fx-loan-repayments-in-december_62590 Chinese-owned Huawei Technologies Hungary European Supply Centre opened a unit in Cserkut, near Pecs (SW Hungary), on Tuesday. http://www.bbj.hu/business/update---huawei-supply-centre-opens-unit-in-sw-hungary--_62589 2012-01-31T15:20:00Z http://www.bbj.hu/business/update---huawei-supply-centre-opens-unit-in-sw-hungary--_62589 German-owned window systems maker Roto Elzett Certa is spending almost HUF 3bn to expand production and warehouse capacity at its plant in Lovo (W Hungary), managing director Erno Kocsis said at a press conference on Tuesday. http://www.bbj.hu/business/roto-elzett-certa-spending-huf-3bn-to-expand-capacity--_62588 2012-01-31T15:20:00Z http://www.bbj.hu/business/roto-elzett-certa-spending-huf-3bn-to-expand-capacity--_62588 MAV-Gepeszet, the engineering unit of state-owned railway company MAV, has started making InterCity carriages at its base in Szolnok as the result of a HUF 1.4bn investment, MAV chairman-CEO Ferenc Szarvas said on Tuesday. http://www.bbj.hu/business/mav-unit-starts-production-of-ic-carriages--_62587 2012-01-31T15:20:00Z http://www.bbj.hu/business/mav-unit-starts-production-of-ic-carriages--_62587 Chinese-owned Huawei Technologies Hungary European Supply Centre opened a unit in Cserkut, near Pecs (SW Hungary), on Tuesday. http://www.bbj.hu/business/huawei-supply-centre-opens-unit-in-sw-hungary--_62586 2012-01-31T13:40:00Z http://www.bbj.hu/business/huawei-supply-centre-opens-unit-in-sw-hungary--_62586 The Government Debt Management Agency (AKK) sold HUF 5bn more three-month discount T-bills than planned at an auction seeing threefold subscription on Tuesday. Yields fell sharply from a week earlier but exceeded Monday’s respective benchmark. http://www.bbj.hu/economy/demand-high-yields-above-benchmark-at-three-month-t-bill-auction--_62584 2012-01-31T13:40:00Z http://www.bbj.hu/economy/demand-high-yields-above-benchmark-at-three-month-t-bill-auction--_62584 A consortium of state-owned Magyar Posta, the Hungarian Electricity Works (MVM) and a unit of the Hungarian Development Bank (MFB) has successfully bid for a 5MHz frequency block in the 900MHz band at auction, making it the fourth player on Hungary’s mobile telecommunications market, the National Media and Infocommunications Authority (NMHH) said on Tuesday. http://www.bbj.hu/business/update---state-run-consortium-bags-biggest-frequency-block-at-auction--_62585 2012-01-31T13:35:00Z http://www.bbj.hu/business/update---state-run-consortium-bags-biggest-frequency-block-at-auction--_62585 Non-financial Hungarian companies were net repayers of both forint and foreign currency-denominated loans in December, and they withdrew more from foreign currency deposits than they placed in forint deposits, the National Bank of Hungary (MNB) said in a monthly report on Tuesday. http://www.bbj.hu/economy/update---hungarian-businesses-net-loan-repayers-in-december--_62583 2012-01-31T13:35:00Z http://www.bbj.hu/economy/update---hungarian-businesses-net-loan-repayers-in-december--_62583 Fresh unemployment data for December published on Tuesday was more or less in line with expectations, but the jobless rate is likely to climb in the coming months because of seasonal factors, analysts told MTI. http://www.bbj.hu/economy/analysts-see-jobless-rate-climbing-on-seasonal-effect-in-coming-months--_62582 2012-01-31T13:35:00Z http://www.bbj.hu/economy/analysts-see-jobless-rate-climbing-on-seasonal-effect-in-coming-months--_62582 Managing director and chairman of the board Peter Feiner of retailer Spar Magyarorszag Kereskedelmi is resigning on March 1, the company told MTI on Tuesday. http://www.bbj.hu/business/spar-magyarorszag-to-get-new-board-chairman--_62581 2012-01-31T13:35:00Z http://www.bbj.hu/business/spar-magyarorszag-to-get-new-board-chairman--_62581 The value of new retail loans Hungarian banks signed in December rose sharply compared to previous months as borrowers availed of an early repayment scheme for foreign currency-denominated mortgages, fresh monthly data published by the National Bank of Hungary on Friday show. http://www.bbj.hu/economy/early-fx-repayment-scheme-boosts-value-of-new-retail-loans--_62580 2012-01-31T13:35:00Z http://www.bbj.hu/economy/early-fx-repayment-scheme-boosts-value-of-new-retail-loans--_62580 Hungarian banks’ new corporate outlays increased in December, fresh monthly data published by the National Bank of Hungary on Tuesday show. http://www.bbj.hu/economy/new-corporate-outlays-rise-in-december_62579 2012-01-31T13:30:00Z http://www.bbj.hu/economy/new-corporate-outlays-rise-in-december_62579 The deadline, on Monday, for borrowers registered to participate in an foreign currency-denominated mortgage repayment scheme to prove their ability to make the repayments did not produce a flood of activity at Hungarian banks. http://www.bbj.hu/economy/deadline-for-proof-of-payment-in-early-fx-repayment-scheme-passes-without-rush--_62577 2012-01-31T11:10:00Z http://www.bbj.hu/economy/deadline-for-proof-of-payment-in-early-fx-repayment-scheme-passes-without-rush--_62577 The average unemployment rate in Hungary was 10.7% in the 15-74 age group in October-December, inching up from 10.6% in September-November but falling from 10.8% in the same period a year earlier, data published by the Central Statistics Office (KSH) on Tuesday show. http://www.bbj.hu/economy/update---hungary-jobless-rate-edges-down-to-107percent-from-year-earlier--_62578 2012-01-31T11:05:00Z http://www.bbj.hu/economy/update---hungary-jobless-rate-edges-down-to-107percent-from-year-earlier--_62578 Non-financial Hungarian companies were net repayers of both forint and foreign currency-denominated loans in December, and they withdrew more from foreign currency deposits than they placed in forint deposits, the National Bank of Hungary (MNB) said in a monthly report on Tuesday. http://www.bbj.hu/economy/hungarian-businesses-net-loan-repayers-in-december--_62576 2012-01-31T11:05:00Z http://www.bbj.hu/economy/hungarian-businesses-net-loan-repayers-in-december--_62576 A consortium of state-owned Magyar Posta, the Hungarian Electricity Works (MVM) and a unit of the Hungarian Development Bank (MFB) has successfully bid for a 5MHz frequency block in the 900MHz band at auction, making it the fourth player on Hungary’s mobile telecommunications market, the National Media and Infocommunications Authority (NMHH) said on Tuesday. http://www.bbj.hu/business/state-run-consortium-bags-biggest-frequency-block-at-auction--_62575 2012-01-31T11:05:00Z http://www.bbj.hu/business/state-run-consortium-bags-biggest-frequency-block-at-auction--_62575 The board of Finext, the capital investments arm of Hungarian property developer Futureal, will propose to shareholders payment of a HUF 994m dividend from total assets at an annual general meeting on February 20. http://www.bbj.hu/business/finext-board-proposes-payment-of-huf-994m-dividend-from-assets--_62574 2012-01-31T11:05:00Z http://www.bbj.hu/business/finext-board-proposes-payment-of-huf-994m-dividend-from-assets--_62574 The introduction of hen cages conforming to European Union standards at egg farms in Hungary could cause the cost of eggs in the country to rise to as much as HUF 50 compared to their current retail price of HUF 30-42 per egg, the newspapers Nepszabadsag and Napi Gazdasag reported on Tuesday. http://www.bbj.hu/life/eu-compatible-hen-cages-could-push-up-egg-prices--_62573 2012-01-31T11:00:00Z http://www.bbj.hu/life/eu-compatible-hen-cages-could-push-up-egg-prices--_62573 Hungary’s government plans no drastic tax changes this year, and consultations will precede any small modifications, deputy state secretary for tax affairs Adam Balog said in Tuesday’s issue of business daily Vilaggazdasag. http://www.bbj.hu/economy/govt-plans-no-‘drastic-tax-changes-this-year-says-official--_62572 2012-01-31T09:30:00Z http://www.bbj.hu/economy/govt-plans-no-‘drastic-tax-changes-this-year-says-official--_62572 Hungarian households made more repayment in foreign currency than borrowed in forint in December 2011, the National Bank of Hungary (MNB) reported on Tuesday. Most of the FX repayments and all forint borrowing in the month were made under the government’s preferential-rate FX mortgage repayment scheme. http://www.bbj.hu/economy/household-debt-drops-with-preferential-fx-loan-repayments-in-december_62571 2012-01-31T09:25:00Z http://www.bbj.hu/economy/household-debt-drops-with-preferential-fx-loan-repayments-in-december_62571 The average unemployment rate in Hungary was 10.7% in the 15-74 age group in October-December, inching up from 10.6% in September-November but falling from 10.8% in the same period a year earlier, data published by the Central Statistics Office (KSH) on Tuesday show. http://www.bbj.hu/economy/hungary-jobless-rate-edges-down-to-107percent-from-year-earlier--_62570 2012-01-31T09:25:00Z http://www.bbj.hu/economy/hungary-jobless-rate-edges-down-to-107percent-from-year-earlier--_62570 Industrial producer prices in Hungary rose 7.5% in December from the same period a year earlier, slowing from an 8.0% increase in the previous month, data published by the Central Statistics Office (KSH) on Tuesday show. http://www.bbj.hu/economy/hungary-industrial-producer-prices-rise-75percent-in-dec--_62569 2012-01-31T09:25:00Z http://www.bbj.hu/economy/hungary-industrial-producer-prices-rise-75percent-in-dec--_62569 The Budapest Stock Exchange’s blue-chip BUX index opened Tuesday trade up 0.66% at 19,198.82. http://www.bbj.hu/finance/bux-opens-up-07percent--_62568 2012-01-31T09:20:00Z http://www.bbj.hu/finance/bux-opens-up-07percent--_62568 Hungary’s central bank is likely to remain biased to tighten until the IMF/EU deal is reached, but its policy rate is now close to peaking, London-based emerging markets economists said. http://www.bbj.hu/economy/hungary-base-rate-near-peak-says-city--_62567 2012-01-30T17:45:00Z http://www.bbj.hu/economy/hungary-base-rate-near-peak-says-city--_62567 The Budapest Stock Exchange’s BUX index closed Monday trade down 1.11% to 19,072.77, declining with blue-chip indices throughout Europe as investors worried that the European Union’s debt summit would fail to produce measures necessary to significantly relieve Greece’s debt crisis. http://www.bbj.hu/finance/bux-loses-11percent-on-greek-debt-worries--_62566 2012-01-30T17:45:00Z http://www.bbj.hu/finance/bux-loses-11percent-on-greek-debt-worries--_62566 The financing of the activities of national carrier Malev will become impossible from the end of January, in spite of improving business performance, CEO Lorant Limburger told the airline’s board on Monday. http://www.bbj.hu/business/malev-financing-impossible-from-end-january-says-ceo--_62564 2012-01-30T17:40:00Z http://www.bbj.hu/business/malev-financing-impossible-from-end-january-says-ceo--_62564 Non-resident or foreign investors bought net HUF 1,264.1bn of forint-denominated Hungarian government securities in 2011, investing more than €4.5bn at last year’s average exchange rate, data from the State Debt Management Agency (AKK) show. http://www.bbj.hu/finance/update---foreign-investors-buy-net-eur45bn-worth-hungarian-forint-securities-in-2011--_62565 2012-01-30T17:30:00Z http://www.bbj.hu/finance/update---foreign-investors-buy-net-eur45bn-worth-hungarian-forint-securities-in-2011--_62565 Non-resident or foreign investors bought net HUF 1,264.1bn of forint-denominated Hungarian government securities in 2011, investing more than €4.5bn at last year’s average exchange rate, data from the State Debt Management Agency (AKK) show. http://www.bbj.hu/finance/foreign-investors-buy-net-eur45bn-worth-hungarian-forint-securities-in-2011--_62563 2012-01-30T15:30:00Z http://www.bbj.hu/finance/foreign-investors-buy-net-eur45bn-worth-hungarian-forint-securities-in-2011--_62563 Hungarian bus maker NABI on Monday said it would restart production at its plant in Kaposvar (W Hungary) to fill a 150-unit order from the city of Los Angeles. http://www.bbj.hu/business/nabi-to-resume-bus-manufacturing-at-kaposvar-plant-on-us-order--_62562 2012-01-30T15:30:00Z http://www.bbj.hu/business/nabi-to-resume-bus-manufacturing-at-kaposvar-plant-on-us-order--_62562 Hungary’s OTP Bank has bought back bonds to a nominal value of €12m of a subordinated bond series due on March 4, 2015 on the secondary market, the bank said on Friday. http://www.bbj.hu/finance/otp-continues-buyback-of-subordinated-bonds-due-in-2015--_62561 2012-01-30T15:30:00Z http://www.bbj.hu/finance/otp-continues-buyback-of-subordinated-bonds-due-in-2015--_62561 The National Bank of Hungary (MNB) received no bids for floating-rate three month EUR/HUF swaps at its regular weekly tender on Monday. http://www.bbj.hu/economy/demand-for-central-bank-three-month-fx-swaps-dries-up--_62560 2012-01-30T15:30:00Z http://www.bbj.hu/economy/demand-for-central-bank-three-month-fx-swaps-dries-up--_62560 The board of MKB Bank has decided on a HUF 62bn capital raise through a private placement to be subscribed by majority owner BayernLB, the bank said late Friday. http://www.bbj.hu/business/mkb-board-approves-huf-62bn-capital-raise--_62558 2012-01-30T15:25:00Z http://www.bbj.hu/business/mkb-board-approves-huf-62bn-capital-raise--_62558 Hungarian oil and gas company MOL will lower its wholesale petrol and diesel prices by HUF 5 and HUF 8 per litre, respectively, from Wednesday, industry insiders told MTI on Monday. http://www.bbj.hu/life/mol-to-lower-petrol-diesel-prices--_62557 2012-01-30T15:25:00Z http://www.bbj.hu/life/mol-to-lower-petrol-diesel-prices--_62557 The government on Monday declared national carrier Malev a "business of prime strategic significance". http://www.bbj.hu/business/update-2---govt-declares-malev-strategic-company-in-decree_62559 2012-01-30T15:20:00Z http://www.bbj.hu/business/update-2---govt-declares-malev-strategic-company-in-decree_62559 Hungary’s Paks Nuclear Power Plant generated 15,685 GWh of electricity in 2011, just under a record set in the previous year, chairman Csaba Baji said at a press conference on Monday. http://www.bbj.hu/business/paks-electricity-output-edges-down-in-2011_62556 2012-01-30T15:20:00Z http://www.bbj.hu/business/paks-electricity-output-edges-down-in-2011_62556 Hungary’s Chief Prosecutor’s Office on Monday said it ended an investigation of the "MOL-INA affair" because of a lack of evidence. http://www.bbj.hu/business/hungary-prosecutor-ends-investigation-of-mol-ina-affair--_62555 2012-01-30T12:20:00Z http://www.bbj.hu/business/hungary-prosecutor-ends-investigation-of-mol-ina-affair--_62555 Insurer Aviva on Monday said it agreed to sell its businesses in Hungary, the Czech Republic and Romania to MetLife. http://www.bbj.hu/business/aviva-sells-hungarian-business-to-metlife--_62554 2012-01-30T12:20:00Z http://www.bbj.hu/business/aviva-sells-hungarian-business-to-metlife--_62554 The government on Monday declared national carrier Malev a "business of prime strategic significance". http://www.bbj.hu/business/update---govt-declares-malev-strategic-company-in-decree_62553 2012-01-30T12:00:00Z http://www.bbj.hu/business/update---govt-declares-malev-strategic-company-in-decree_62553 The Skoda brand’s share of Hungary’s new car market rose to 11% last year, vehicle importer Porsche Hungaria told MTI. http://www.bbj.hu/business/skoda-market-share-in-hungary-climbs-to-11percent--_62552 2012-01-30T09:40:00Z http://www.bbj.hu/business/skoda-market-share-in-hungary-climbs-to-11percent--_62552 MAV-Gepeszet, the engineering unit of state-owned railway company MAV, will start making carriages at the end of January, after a contract for support under the New Szechenyi Plan is signed on January 31, MAV communications directorate told MTI. http://www.bbj.hu/business/mav-unit-to-start-production-of-ic-carriages--_62551 2012-01-30T09:40:00Z http://www.bbj.hu/business/mav-unit-to-start-production-of-ic-carriages--_62551 The number of private individuals and sole proprietorships significantly behind on taxes rose, while the number of companies that owed back taxes fell in the fourth quarter of last year, data from the National Tax and Customs Office (NAV) show. http://www.bbj.hu/economy/fewer-companies-behind-on-tax-payments-of-more-than-huf-100m--_62550 2012-01-30T09:40:00Z http://www.bbj.hu/economy/fewer-companies-behind-on-tax-payments-of-more-than-huf-100m--_62550 The number of patents filed with the Hungarian Intellectual Property Office edged up 2% to 660 in 2011 after reaching a ten-year low in 2010, data published by the office show. http://www.bbj.hu/life/hungarians-file-660-patents-in-2011--_62549 2012-01-30T09:40:00Z http://www.bbj.hu/life/hungarians-file-660-patents-in-2011--_62549 The government on Monday declared national carrier Malev a "business of prime strategic significance". http://www.bbj.hu/business/govt-declares-malev-strategic-company-in-decree--_62548 2012-01-30T09:40:00Z http://www.bbj.hu/business/govt-declares-malev-strategic-company-in-decree--_62548 The Budapest Stock Exchange’s blue-chip BUX index opened Monday trade down 0.99% at 19,095.43. http://www.bbj.hu/finance/bux-opens-down-1percent_62547 2012-01-30T09:35:00Z http://www.bbj.hu/finance/bux-opens-down-1percent_62547 A shareholders meeting of Hungarian national carrier Malev on Friday failed to decide on the extension of an aircraft lease contract or on a capital raise, Malev board chairman Janos Berenyi told in a statement to MTI late on Friday. http://www.bbj.hu/business/malev-shareholders-meeting-takes-no-decision-on-lease-or-capital-raise--_62546 2012-01-27T20:25:00Z http://www.bbj.hu/business/malev-shareholders-meeting-takes-no-decision-on-lease-or-capital-raise--_62546 The Budapest Stock Exchange’s blue-chip BUX index finished Friday trade up 0.76% to its highest close since August 5, 2011 at 19,286.15. http://www.bbj.hu/finance/bux-gains-08percent-closing-at-25-week-high--_62545 2012-01-27T20:25:00Z http://www.bbj.hu/finance/bux-gains-08percent-closing-at-25-week-high--_62545 The government must come up with a tender for additional subsidies available to employers who raise wages to compensate lower earners for tax changes by January 31, under a decree published in official gazette Magyar Kozlony dated January 26 and published on Thursday. http://www.bbj.hu/economy/govt-must-prepare-wage-compensation-subsidy-tender-by-january-31--_62544 2012-01-27T20:20:00Z http://www.bbj.hu/economy/govt-must-prepare-wage-compensation-subsidy-tender-by-january-31--_62544 The Hungarian unit of German automotive industry supplier Continental on Friday inaugurated a net HUF 1.2bn investment at its plant in Budapest. http://www.bbj.hu/business/continental-unveilshuf-12bn-investment-in-hungary--_62543 2012-01-27T20:20:00Z http://www.bbj.hu/business/continental-unveilshuf-12bn-investment-in-hungary--_62543 Hungary's retail vehicle leasing market shrank to less than HUF 100bn in 2011, reaching a ten-year low, Lombard Leasing Group said on Friday. http://www.bbj.hu/business/hungary-retail-vehicle-leasing-market-contracts-to-ten-year-low--_62542 2012-01-27T14:40:00Z http://www.bbj.hu/business/hungary-retail-vehicle-leasing-market-contracts-to-ten-year-low--_62542 A shareholders meeting of Hungarian national carrier Malev on Friday was recessed until 6pm because talks with the company that leases the airline its Boeing aircraft had not finished, Malev communications director Marta Rona told MTI. http://www.bbj.hu/business/malev-shareholders-meeting-recessed-as-lease-talks-continue--_62541 2012-01-27T12:00:00Z http://www.bbj.hu/business/malev-shareholders-meeting-recessed-as-lease-talks-continue--_62541 The Hungarian Investment and Trade Agency (HITA) and the National Office of Intellectual Property (SZTNH) have signed a cooperation agreement in the interest of improving the competitiveness and innovative activities of Hungarian SMEs, HITA told MTI on Friday. http://www.bbj.hu/business/hita-intellectual-property-office-partner-to-support-smes--_62540 2012-01-27T12:00:00Z http://www.bbj.hu/business/hita-intellectual-property-office-partner-to-support-smes--_62540 Take-up on Budapest’s industrial property market rose almost 50% in Q4 of last year from the previous quarter and was nearly double the rate in the same period a year earlier, the Budapest Property Consultants Coordination Forum (BIEF) told MTI on Friday. http://www.bbj.hu/business/take-up-on-budapest-industrial-property-market-climbs-almost-50percent-in-q4--_62539 2012-01-27T11:55:00Z http://www.bbj.hu/business/take-up-on-budapest-industrial-property-market-climbs-almost-50percent-in-q4--_62539 Economic research company GKI on Friday said it expects Hungary’s economy to contract just 1% in 2012, compared to a 1.5% decline forecast last December. http://www.bbj.hu/economy/gki-sees-slower-economic-contraction-in-2012--_62538 2012-01-27T10:00:00Z http://www.bbj.hu/economy/gki-sees-slower-economic-contraction-in-2012--_62538 There are no pre-conditions for the start of negotiations on a financial assistance package with the International Monetary Fund and the European Union; the Hungarian government stands ready, so the talks could start anytime, government spokesman Andras Giro-Szasz said on public television early Friday. http://www.bbj.hu/economy/hungary-has-no-pre-conditions-for-start-of-imf-eu-credit-negotiations-says-govt-spokesman--_62537 2012-01-27T10:00:00Z http://www.bbj.hu/economy/hungary-has-no-pre-conditions-for-start-of-imf-eu-credit-negotiations-says-govt-spokesman--_62537 Vueling, the low-fare unit of Spanish airline Iberia, is eyeing troubled Hungarian national carrier Malev, daily Nepszabadsag said on Friday, without citing any sources. http://www.bbj.hu/business/iberia-low-fare-unit-eyes-malev-nepszabadsag-says_62536 2012-01-27T09:55:00Z http://www.bbj.hu/business/iberia-low-fare-unit-eyes-malev-nepszabadsag-says_62536 Hungary needs to maintain economic stability, better design fiscal policy and improve economic governance in order to address its big debt burden and support growth, Christoph Rosenberg, IMF mission chief for Hungary, said in an interview with IMF Survey online. http://www.bbj.hu/economy/imf-mission-chief-suggests-better-fiscal-policy-improved-economic-governance-for-hungary--_62535 2012-01-27T09:55:00Z http://www.bbj.hu/economy/imf-mission-chief-suggests-better-fiscal-policy-improved-economic-governance-for-hungary--_62535 Hungarian automotive industry supplier Auto-Szoft Automatizalasi es Gepgyarto has completed a HUF 109m production hall at its base in the Gyor Industrial Park (NW Hungary), managing director Bela Papp told MTI. http://www.bbj.hu/business/auto-szoft-completes-huf-109m-production-hall--_62534 2012-01-27T09:50:00Z http://www.bbj.hu/business/auto-szoft-completes-huf-109m-production-hall--_62534 The Budapest Stock Exchange’s blue-chip BUX index opened Friday trade down 0.31% at 19,082.41. http://www.bbj.hu/finance/bux-opens-down-03percent--_62533 2012-01-27T09:50:00Z http://www.bbj.hu/finance/bux-opens-down-03percent--_62533 The Budapest Stock Exchange’s blue-chip BUX index finished Thursday trade up 2.57% to 19,141.28 as OTP Bank’s gain of over 7% on positive global sentiment stemming from the Federal Reserve’s announcement that it would keep rates at "exceptionally low levels" through 2014 propelled the BSE blue-chip index back above the 19,000 plateau. http://www.bbj.hu/finance/bux-advances-26percent-on-sharp-otp-gain_62532 2012-01-26T18:15:00Z http://www.bbj.hu/finance/bux-advances-26percent-on-sharp-otp-gain_62532 In a budget report on Monday, the National Economy Ministry said that net revenue from the personal income tax, at HUF 1,382.8bn last year, exceeded the respective annual target by 1.5%, but dropped HUF 385.1bn or by 21.8% from 2010. http://www.bbj.hu/economy/personal-income-tax-revenue-higher-than-target-but-down-yr-yr_62531 2012-01-26T18:15:00Z http://www.bbj.hu/economy/personal-income-tax-revenue-higher-than-target-but-down-yr-yr_62531 Excluding one-off items, Hungary’s 2011 general government deficit was 2.8% of GDP as against the targeted 2.94% of GDP deficit ratio, National Economy Minister Gyorgy Matolcsy told an extraordinary session of parliament’s Budgetary and Audit Committee on Thursday. http://www.bbj.hu/economy/hungary-fiscal-deficit-was-26percent-in-2011-without-one-off-items-economy-minister-says_62530 2012-01-26T18:15:00Z http://www.bbj.hu/economy/hungary-fiscal-deficit-was-26percent-in-2011-without-one-off-items-economy-minister-says_62530 About 3,000 people have called the National Asset Manager’s (NET) hotline to inquire about participation in a programme for distressed borrowers, NET spokesperson Edit Ternyak told MTI. http://www.bbj.hu/life/3000-call-national-asset-manager-foreclosure-hotline_62529 2012-01-26T18:10:00Z http://www.bbj.hu/life/3000-call-national-asset-manager-foreclosure-hotline_62529 German carmaker Daimler is in talks with Austrian-Canadian machinery maker Magna on moving production of the Mercedes G-Class sport utility vehicle to Hungary, Austrian daily Kleine Zeitung said on Thursday, citing a Magna official. http://www.bbj.hu/business/daimler-in-talks-to-move-more-production-to-new-plant-in-hungary_62527 2012-01-26T18:10:00Z http://www.bbj.hu/business/daimler-in-talks-to-move-more-production-to-new-plant-in-hungary_62527 The calculations of the Hungarian government produce different results on the fiscal deficit than the calculations of the International Monetary Fund, Prime Minister’s spokesman Peter Szijjarto said on public television late Wednesday. http://www.bbj.hu/economy/update---govt-calculations-show-different-deficit-than-imf-says-pm-spokesman---tv_62526 2012-01-26T15:00:00Z http://www.bbj.hu/economy/update---govt-calculations-show-different-deficit-than-imf-says-pm-spokesman---tv_62526 Revenue of snack maker Chio Magyarorszag, a unit of Netherlands-based Intersnack International, fell 5% to HUF 11.6bn in 2011 because of the introduction of a tax on unhealthy food introduced last September, managing director Robert Merkler said on Thursday. http://www.bbj.hu/business/chio-revenue-slips-on-chips-tax_62525 2012-01-26T15:00:00Z http://www.bbj.hu/business/chio-revenue-slips-on-chips-tax_62525 Raiffeisen Bank Group expects an early repayment scheme for foreign currency-denominate mortgages at discounted exchange rates to generate a loss of €55m-60m for its business in Hungary, but plans to make up for the loss "in the foreseeable future", CEO Herbert Stepic said in Thursday’s issue of Austrian business daily Wirtschaftsblatt. http://www.bbj.hu/finance/raiffeisen-bank-to-make-up-for-losses-in-hungary_62524 2012-01-26T14:55:00Z http://www.bbj.hu/finance/raiffeisen-bank-to-make-up-for-losses-in-hungary_62524 Hungary’s savings cooperatives have provided about one-third of the forint loans Hungarian borrowers are using to participate in an early foreign currency-based mortgage repayment scheme, the National Association of Savings Cooperatives (OTSZ) said on Thursday. http://www.bbj.hu/finance/one-third-of-huf-loans-to-cover-fx-repayments-come-from-savings-cooperatives_62523 2012-01-26T14:55:00Z http://www.bbj.hu/finance/one-third-of-huf-loans-to-cover-fx-repayments-come-from-savings-cooperatives_62523 Hungary’s Government Debt Management Agency (AKK) raised its offers for all three terms on strong demand at a bond auction on Thursday. It sold a combined HUF 48bn of the bonds and sold another HUF 2.2bn of the two shorter bonds at a non-competitive tender following the auction. http://www.bbj.hu/economy/akk-raises-offers-on-strong-demand-again-at-bond-auction_62522 2012-01-26T14:55:00Z http://www.bbj.hu/economy/akk-raises-offers-on-strong-demand-again-at-bond-auction_62522 Visitors spent 1,051,000 guest nights in the Hungarian spa town of Heviz last year, mayor Gabor Papp said on Thursday. http://www.bbj.hu/life/heviz-guest-nights-climb-to-over-1m-in-2011_62521 2012-01-26T11:30:00Z http://www.bbj.hu/life/heviz-guest-nights-climb-to-over-1m-in-2011_62521 Last year, Hungary’s National Tax and Customs Office (NAV) suspended the tax numbers of 77,643 companies - 15% of the total that are operating - more than twice the 32,000 in 2010, as NAV enforced a rule requiring publication of business results, company monitoring website feketelista.hu told MTI. http://www.bbj.hu/business/tax-authority-suspends-twice-as-many-tax-numbers-last-year-for-failure-to-report_62519 2012-01-26T11:25:00Z http://www.bbj.hu/business/tax-authority-suspends-twice-as-many-tax-numbers-last-year-for-failure-to-report_62519 The calculations of the Hungarian government produce different results on the fiscal deficit than the calculations of the International Monetary Fund, Prime Minister’s spokesman Peter Szijjarto said on public television late Wednesday. http://www.bbj.hu/economy/govt-calculations-show-different-deficit-than-imf-says-pm-spokesman---tv_62518 2012-01-26T11:25:00Z http://www.bbj.hu/economy/govt-calculations-show-different-deficit-than-imf-says-pm-spokesman---tv_62518 The Acceleration Indicator (GYIA), a measure of ten economic and financial indicators compiled by business daily Vilaggazdasag, edged up 0.04% in January from the previous month. http://www.bbj.hu/economy/hungary-acceleration-indicator-improves-in-january_62517 2012-01-26T09:30:00Z http://www.bbj.hu/economy/hungary-acceleration-indicator-improves-in-january_62517 Automotive industry supplier I. G. Gasket International is building an HUF 810m plant in Rajka, near Hungary’s borders with Austria and Slovakia. http://www.bbj.hu/business/i-g-gasket-international-building-huf-810m-plant-in-nw-hungary_62516 2012-01-26T09:25:00Z http://www.bbj.hu/business/i-g-gasket-international-building-huf-810m-plant-in-nw-hungary_62516 The Budapest Stock Exchange’s blue-chip BUX index opened Thursday trade up 0.39% at 18,733.70. http://www.bbj.hu/finance/bux-opens-up-04percent_62515 2012-01-26T09:25:00Z http://www.bbj.hu/finance/bux-opens-up-04percent_62515 Shareholders of Hungarian drug maker Egis, majority-owned by France’s Servier, approved payment of a HUF 120-per-share dividend on after-tax profit from the business year ended September 30 at an annual general meeting on Wednesday. http://www.bbj.hu/business/egis-shareholders-approve-huf-120-per-share-dividend_62514 2012-01-25T18:55:00Z http://www.bbj.hu/business/egis-shareholders-approve-huf-120-per-share-dividend_62514 An International Monetary Fund (IMF) delegation could visit Hungary in the second quarter to conduct biannual monitoring connected with Hungary’s 2008 loan, while the consultation pursuant to Article IV of the IMF’s Articles of Agreement is expected to take place in a year, the Ministry of National Economy (NGM) said after the IMF published its annual country report on Hungary on Wednesday. http://www.bbj.hu/economy/imf-delegation-due-to-visit-hungary-for-monitoring-in-q2-ministry-says_62513 2012-01-25T18:50:00Z http://www.bbj.hu/economy/imf-delegation-due-to-visit-hungary-for-monitoring-in-q2-ministry-says_62513 The Budapest Stock Exchange’s blue-chip BUX index closed Tuesday trade down 1.00% to 18,660.85 as concerns that the European Central Bank may be compelled to write down its Greek bond holdings in an effort to restructure the country’s debt weighed on sentiment at bourses throughout Europe. http://www.bbj.hu/finance/bux-loses-1percent-as-greek-debt-concerns-weigh-on-sentiment_62512 2012-01-25T18:50:00Z http://www.bbj.hu/finance/bux-loses-1percent-as-greek-debt-concerns-weigh-on-sentiment_62512 The Budapest Stock Exchange on Wednesday said it added ten new securities to the range of international products quoted on its BETa Market, doubling the offering. http://www.bbj.hu/finance/budapest-bourse-doubles-quotes-on-beta-market_62510 2012-01-25T15:25:00Z http://www.bbj.hu/finance/budapest-bourse-doubles-quotes-on-beta-market_62510 The government is considering a package of measures aimed at providing state support to help consolidate Hungarian companies whose operations are necessary to ensure the security of supply and demand for domestic agricultural goods and which represent a significant source of employment, Rural Development Minister Sandor Fazekas stated. http://www.bbj.hu/economy/govt-considering-measures-to-support-troubled-hungarian-food-companies_62509 2012-01-25T15:25:00Z http://www.bbj.hu/economy/govt-considering-measures-to-support-troubled-hungarian-food-companies_62509 State secretary for economic strategy Zoltan Csefalvay said in a radio interview late Tuesday that credit agencies’ message should be heard and Hungary must aim to bring the yield on its government securities under 7%. http://www.bbj.hu/economy/govt-securities-yields-must-be-brought-under-7percent-says-state-sec_62508 2012-01-25T15:20:00Z http://www.bbj.hu/economy/govt-securities-yields-must-be-brought-under-7percent-says-state-sec_62508 The International Monetary Fund projects Hungary’s economy will grow 0.3% in 2012 and 1.5% in 2013, an annual country report published on Wednesday. http://www.bbj.hu/economy/imf-projects-hungarys-economy-will-grow-03percent-in-2012_62507 2012-01-25T15:20:00Z http://www.bbj.hu/economy/imf-projects-hungarys-economy-will-grow-03percent-in-2012_62507 The executive board of the International Monetary Fund said Hungary needs a policy the "restores confidence in economic governance" in an assessment attached to a staff report for Article IV consultation and post-programme monitoring discussions published by the IMF on Wednesday. http://www.bbj.hu/economy/hungary-needs-policy-that-restores-confidence-in-economic-governance-says-imf_62506 2012-01-25T15:20:00Z http://www.bbj.hu/economy/hungary-needs-policy-that-restores-confidence-in-economic-governance-says-imf_62506 The Budapest municipal council on Wednesday decided to give the capital’s troubled public transport company BKV a HUF 9bn loan and a further HUF 6bn in support. http://www.bbj.hu/life/budapest-council-approves-huf-15bn-for-bkv_62505 2012-01-25T13:40:00Z http://www.bbj.hu/life/budapest-council-approves-huf-15bn-for-bkv_62505 Retail sales in Hungary rose faster than expected in November, but analysts see tax changes causing sales to drop from January. http://www.bbj.hu/economy/nov-retail-sales-rise-higher-than-expected---analysts_62504 2012-01-25T13:40:00Z http://www.bbj.hu/economy/nov-retail-sales-rise-higher-than-expected---analysts_62504 Gross debt of Hungary’s central government rose HUF 914.5bn last year as the withdrawal of forint securities in private pension fund assets transferred to the state failed to offset a steep rise in foreign currency debt, most of it resulting from a weaker forint, a report on 2011 financing by the National Economy Ministry shows. http://www.bbj.hu/economy/hungary-central-govt-debt-up-in-2011-as-weaker-forint-offsets-bulk-of-securities-withdrawal_62503 2012-01-25T13:35:00Z http://www.bbj.hu/economy/hungary-central-govt-debt-up-in-2011-as-weaker-forint-offsets-bulk-of-securities-withdrawal_62503 Geothermal energy company PannErgy met its business targets in 2011 and its projects are on schedule, CEO Denes Gyimothy told journalists on Wednesday. http://www.bbj.hu/business/pannergy-meets-targets-in-2011_62502 2012-01-25T13:35:00Z http://www.bbj.hu/business/pannergy-meets-targets-in-2011_62502 The Government Debt Management Agency (AKK) bought a combined HUF 25.1bn of bonds before maturity at a reverse auction on Wednesday. Selling offers totalled HUF 35.5bn. http://www.bbj.hu/economy/akk-buys-back-huf-251bn-of-bonds-at-reverse-auction_62501 2012-01-25T13:35:00Z http://www.bbj.hu/economy/akk-buys-back-huf-251bn-of-bonds-at-reverse-auction_62501 Iron-Tech Kereskedelmi, Szolgaltato es Termelo Zrt, a company that produces metal parts primarily for the automobile industry, completed a HUF 200m technological investment at its plant in Szigetvar (S Hungary), company owner-CEO Tibor Bocskor told MTI on Wednesday. http://www.bbj.hu/business/iron-tech-zrt-completes-eu-supported-investment_62499 2012-01-25T11:45:00Z http://www.bbj.hu/business/iron-tech-zrt-completes-eu-supported-investment_62499 Debreceni Csoport Husipari (DCSH), one of Hungary’s biggest meat company, is shutting down its plant in Abda (NW Hungary) because of the unfavourable economic environment, managing director Viktor Szucs said in a statement sent to MTI on Tuesday. http://www.bbj.hu/business/meat-company-debreceni-to-shut-down-plant_62498 2012-01-25T11:40:00Z http://www.bbj.hu/business/meat-company-debreceni-to-shut-down-plant_62498 Retail sales in Hungary grew a calendar-adjusted 1.1% in November 2011 from a year earlier and were up 0.2% from October according to data adjusted for seasonal and calendar effects, the Central Statistics Office (KSH) said on Wednesday. http://www.bbj.hu/economy/update---hungary-retail-sales-growth-up-at-11percent-in-year-to-november_62497 2012-01-25T11:40:00Z http://www.bbj.hu/economy/update---hungary-retail-sales-growth-up-at-11percent-in-year-to-november_62497 The members of Kexport Cluster, an association of Hungarian environmental protection companies, aims to double their combined export revenue to HUF 8bn-9bn within five years, the association’s chairman Istvan Ori said at a press conference on Tuesday. http://www.bbj.hu/business/hungarian-environmental-company-cluster-aims-to-double-export-revenue_62496 2012-01-25T11:40:00Z http://www.bbj.hu/business/hungarian-environmental-company-cluster-aims-to-double-export-revenue_62496 Aliter-P, a Hungarian company that sells hog-farming technology, inaugurated a HUF 200m base in Babolna (NW Hungary) on Wednesday. http://www.bbj.hu/business/hog-farming-technology-company-aliter-p-unveils-huf-200m-base_62495 2012-01-25T11:40:00Z http://www.bbj.hu/business/hog-farming-technology-company-aliter-p-unveils-huf-200m-base_62495 Machinery maker and seller MPF Holding had pre-tax profit of more than HUF 3.5bn in 2011, the company’s management told MTI on Wednesday. http://www.bbj.hu/business/mpf-holding-pre-tax-profit-reaches-huf-35bn-in-2011_62494 2012-01-25T11:35:00Z http://www.bbj.hu/business/mpf-holding-pre-tax-profit-reaches-huf-35bn-in-2011_62494 Hungary placed tenth among the world’s leading 60 economies on consultancy Ernst and Young’s fresh Globalization Index. http://www.bbj.hu/life/hungary-places-10th-on-globalization-index_62493 2012-01-25T11:35:00Z http://www.bbj.hu/life/hungary-places-10th-on-globalization-index_62493 Public sector workers with foreign currency-denominated mortgages will get interest subsidies and a one-off grant, depending on the number of children in their family, if they join an exchange rate limit system, the National Economy Ministry said on Wednesday. http://www.bbj.hu/economy/govt-offers-public-sector-workers-with-fx-mortgages-exchange-rate-limit-grant_62492 2012-01-25T11:35:00Z http://www.bbj.hu/economy/govt-offers-public-sector-workers-with-fx-mortgages-exchange-rate-limit-grant_62492 Retail sales in Hungary grew a calendar-adjusted 1.1% in November 2011 from a year earlier and were up 0.2% from October according to data adjusted for seasonal and calendar effects, the Central Statistics Office (KSH) said on Wednesday. http://www.bbj.hu/economy/hungary-retail-sales-growth-up-at-11percent-in-year-to-november_62491 2012-01-25T10:20:00Z http://www.bbj.hu/economy/hungary-retail-sales-growth-up-at-11percent-in-year-to-november_62491 French tyre maker Michelin is postponing a planned capacity expansion in Hungary because of the uncertain economic environment, Michelin Hungaria managing director John Young said in Wednesday’s issue of Vilaggazdasag. http://www.bbj.hu/business/michelin-delays-investment-in-hungary-over-uncertain-economic-environment_62490 2012-01-25T10:05:00Z http://www.bbj.hu/business/michelin-delays-investment-in-hungary-over-uncertain-economic-environment_62490 European Commission President Jose Manuel Barroso called a meeting with Hungarian Prime Minister Viktor Orban late Tuesday "comprehensive and constructive" and said Mr Orban had "indicated Hungary’s readiness to address swiftly the issues raised by the Commission" in a statement published on the European Union website. http://www.bbj.hu/politics/orban-says-meeting-with-barroso-was-constructive;-indicates-readiness-to-address-issues-swiftly_62489 2012-01-25T10:00:00Z http://www.bbj.hu/politics/orban-says-meeting-with-barroso-was-constructive;-indicates-readiness-to-address-issues-swiftly_62489 The Budapest Stock Exchange’s blue-chip BUX index opened Wednesday trade up 0.48% at 18,939.55. http://www.bbj.hu/finance/bux-opens-up-05percent_62488 2012-01-25T10:00:00Z http://www.bbj.hu/finance/bux-opens-up-05percent_62488 The government will take all the measures necessary to keep Hungary’s deficit under the EU-stipulated maximum of 3% of GDP next year as well, National Economy Minister Gyorgy Matolcsy told journalists in Brussels after the Fiscal Council approved continuing Hungary’s excessive deficit procedure (EDP) on Tuesday. http://www.bbj.hu/economy/matolcsy-government-will-take-all-measures-to-keep-deficit-under-3percent-of-gdp_62485 2012-01-24T17:50:00Z http://www.bbj.hu/economy/matolcsy-government-will-take-all-measures-to-keep-deficit-under-3percent-of-gdp_62485 Hungary’s risk assessment has to improve substantially and for a prolonged period of time in order to create the conditions for the National Bank of Hungary (MNB) to cut its base rate, MNB governor Andras Simor said on Tuesday. http://www.bbj.hu/economy/rate-cut-would-require-substantial-and-steady-improvement-of-risk-assessment---mnb-governor_62486 2012-01-24T17:50:00Z http://www.bbj.hu/economy/rate-cut-would-require-substantial-and-steady-improvement-of-risk-assessment---mnb-governor_62486 Artificial fertiliser maker Nitrogenmuvek had revenue of HUF 90bn in 2011, up 25% from a year before, CEO Istvan Blazsek told MTI on Tuesday. http://www.bbj.hu/business/nitrogenmuvek-revenue-grows-25percent-in-2011_62484 2012-01-24T17:45:00Z http://www.bbj.hu/business/nitrogenmuvek-revenue-grows-25percent-in-2011_62484 Weak domestic demand and the monetary conditions maintained by National Bank of Hungary (MNB) limited the secondary inflationary effect of tax rises and the weaker forint last year, and the risk of longer-term second-round effects is low, the Monetary Council said on Tuesday. http://www.bbj.hu/economy/monetary-council-expects-second-round-inflationary-pressure-to-remain-moderate_62483 2012-01-24T17:45:00Z http://www.bbj.hu/economy/monetary-council-expects-second-round-inflationary-pressure-to-remain-moderate_62483 Electronics maker EPCOS, the Hungarian unit of Japan’s TDK-EPC, inaugurated a HUF 960m aluminum electrolytic capacitor plant at the company’s base in Szombathely (W Hungary) on Tuesday. http://www.bbj.hu/business/epcos-inaugurates-huf-960m-expansion-at-production-base-in-w-hungary_62482 2012-01-24T17:45:00Z http://www.bbj.hu/business/epcos-inaugurates-huf-960m-expansion-at-production-base-in-w-hungary_62482 European Union finance ministers endorse the European Commission’s view that Hungary has failed to make sufficient progress to narrow its fiscal deficit as part of an European Union procedure, Commission Vice President Olli Rehn said at a press conference following a meeting of Ecofin on Tuesday. http://www.bbj.hu/economy/ecofin-endorses-commission-view-hungary-fiscal-measures-are-inadequate_62481 2012-01-24T17:40:00Z http://www.bbj.hu/economy/ecofin-endorses-commission-view-hungary-fiscal-measures-are-inadequate_62481 The market had expected the rate-setters to tighten policy, but were divided over whether they would raise rates by 25bp or 50bp. http://www.bbj.hu/economy/hungary-central-bank-keeps-rates-on-hold-in-surprise-move_62480 2012-01-24T17:30:00Z http://www.bbj.hu/economy/hungary-central-bank-keeps-rates-on-hold-in-surprise-move_62480 Exposition organiser Hungexpo booked a small profit of HUF 53m in 2011 after racking up a HUF 870m loss in the previous year, CEO Gabor Ganczer said at a press conference on Tuesday. http://www.bbj.hu/business/hungexpo-finishes-2011-in-black_62478 2012-01-24T15:30:00Z http://www.bbj.hu/business/hungexpo-finishes-2011-in-black_62478 Hungarian oil and gas company MOL expects the European Union ban on oil imports from Iran will have minimal impact on the group with regard to its exposure through Italian unit IES, MOL said in a statement on Tuesday, Reuters reported. http://www.bbj.hu/business/mol-says-eu-ban-on-iranian-oil-to-have-little-impact-on-its-business_62477 2012-01-24T13:45:00Z http://www.bbj.hu/business/mol-says-eu-ban-on-iranian-oil-to-have-little-impact-on-its-business_62477 The European Bank for Reconstruction and Development sees Hungary’s economy contracting by 1.5% in 2012, the bank said in its fresh "Regional Economic Perspectives" report published on Tuesday. http://www.bbj.hu/economy/ebrd-projects-hungarys-economy-will-contract-15percent-in-2012_62476 2012-01-24T13:45:00Z http://www.bbj.hu/economy/ebrd-projects-hungarys-economy-will-contract-15percent-in-2012_62476 German carmaker Audi closed a record year at its base in the Hungarian city of Gyor, turning out more than 1.8m engines and almost 40,000 cars, Audi Hungaria said on Tuesday. http://www.bbj.hu/business/audi-hungaria-makes-18m-engines-in-2011_62475 2012-01-24T13:45:00Z http://www.bbj.hu/business/audi-hungaria-makes-18m-engines-in-2011_62475 The value of mergers and acquisitions in Hungary fell 29% to $1.8bn in 2011, Ernst and Young division director Margaret Dezse said at a press conference on Tuesday. http://www.bbj.hu/business/hungary-m-and-a-market-declines-29percent-in-2011_62474 2012-01-24T13:45:00Z http://www.bbj.hu/business/hungary-m-and-a-market-declines-29percent-in-2011_62474 The Government Debt Management Agency (AKK) sold the announced amount of three-month discount T-bills on twofold subscription at an auction on Tuesday. Yields fell sharply from a week earlier but were slightly over Monday’s respective benchmark. http://www.bbj.hu/economy/demand-drops-yields-slightly-above-benchmark-at-three-month-t-bill-auction_62473 2012-01-24T13:40:00Z http://www.bbj.hu/economy/demand-drops-yields-slightly-above-benchmark-at-three-month-t-bill-auction_62473 The government of Sweden approved and ratified a ten-year extension of Hungary’s lease of Gripen fighter aircraft last week, daily Nepszabadsag said on Tuesday. http://www.bbj.hu/politics/sweden-approves-10-year-extension-of-hungary-gripen-lease---paper_62472 2012-01-24T11:30:00Z http://www.bbj.hu/politics/sweden-approves-10-year-extension-of-hungary-gripen-lease---paper_62472 Est Media said late Monday that the Company Court of Budapest registered a capital raise from HUF 1.37bn to HUF 3.96bn with effect from January 16. http://www.bbj.hu/business/company-court-registers-est-media-capital-raise_62471 2012-01-24T11:30:00Z http://www.bbj.hu/business/company-court-registers-est-media-capital-raise_62471 Irish low-fare airline Ryanair will relaunch Budapest flights from March 12, CEO Michael O’Leary said at a press conference in the capital on Tuesday. http://www.bbj.hu/life/ryanair-relaunches-budapest-flights_62470 2012-01-24T11:30:00Z http://www.bbj.hu/life/ryanair-relaunches-budapest-flights_62470 Hungary had a cash flow-based general government deficit, excluding local councils, of 6.2% of GDP last year, National Economy Ministry deputy state secretary Peter Banai said late Monday, after the ministry published a second reading of general government data. http://www.bbj.hu/economy/hungary-cash-flow-based-govt-deficit-62percent-of-gdp-in-2011_62469 2012-01-24T11:25:00Z http://www.bbj.hu/economy/hungary-cash-flow-based-govt-deficit-62percent-of-gdp-in-2011_62469 The value of investment property transactions in Hungary jumped to €620m in 2011 from €180m in 2010, according to an analysis by commercial real estate services company CBRE. http://www.bbj.hu/business/hungary-investment-property-transactions-triple-in-2011_62468 2012-01-24T11:25:00Z http://www.bbj.hu/business/hungary-investment-property-transactions-triple-in-2011_62468 About 15,000 Hungarian companies filed for VAT refunds of HUF 289bn the state must pay under a recent ruling by the European Court, daily Magyar Nemzet reported on Tuesday. http://www.bbj.hu/economy/hungarian-companies-apply-for-huf-289bn-in-vat-refunds-under-court-ruling_62466 2012-01-24T09:35:00Z http://www.bbj.hu/economy/hungarian-companies-apply-for-huf-289bn-in-vat-refunds-under-court-ruling_62466 The Hungarian unit of Austrian building materials maker Leier expects to complete a more than HUF 2bn plant in Gyor (NW Hungary) this year, Leier Hungarian managing director Andor Komlos confirmed in Tuesday’s issue of business daily Napi Gazdasag. http://www.bbj.hu/business/leier-to-complete-huf-2bn-plant-in-nw-hungary-this-year---paper_62465 2012-01-24T09:30:00Z http://www.bbj.hu/business/leier-to-complete-huf-2bn-plant-in-nw-hungary-this-year---paper_62465 Hungarian-owned garment company Lux Gold has laid off all of its workers, a union leader said at a press conference late Monday. http://www.bbj.hu/business/garment-company-lux-gold-lays-off-staff_62464 2012-01-24T09:30:00Z http://www.bbj.hu/business/garment-company-lux-gold-lays-off-staff_62464 The number of credit cards in Hungary fell by 11,746 to 1,230,000 in the fourth quarter of last year, business daily Napi Gazdasag said on Tuesday. http://www.bbj.hu/life/bank-card-numbers-fall-in-q4---paper_62463 2012-01-24T09:30:00Z http://www.bbj.hu/life/bank-card-numbers-fall-in-q4---paper_62463 The prime minister has accepted the resignation of Rural Development Ministry state secretary Jozsef Angyan, the ministry told MTI on Monday. http://www.bbj.hu/politics/pm-accepts-resignation-of-farm-ministry-state-sec_62462 2012-01-24T09:25:00Z http://www.bbj.hu/politics/pm-accepts-resignation-of-farm-ministry-state-sec_62462 The Budapest Stock Exchange’s blue-chip BUX index opened Tuesday trade down 0.50% at 18,924.60. http://www.bbj.hu/finance/bux-opens-down-05percent_62461 2012-01-24T09:25:00Z http://www.bbj.hu/finance/bux-opens-down-05percent_62461 London-based emerging markets economists unanimously see Hungary’s central bank announcing another rate hike at its monetary policy meeting on Tuesday, but views are conflicting over the extent of the tightening, with some analysts anticipating a potential slowdown from the previous two 50bps hikes, an Econews survey conducted prior to Tuesday’s rate announcement reveals. http://www.bbj.hu/economy/mnb-rate-hike-certain-uncertain-by-how-much-says-city_62457 2012-01-24T07:00:00Z http://www.bbj.hu/economy/mnb-rate-hike-certain-uncertain-by-how-much-says-city_62457