POLITICS

Emmis to appeal ICSID decision on Sláger Rádió – if possible

In response to an ICSID decision against now-defunct Sláger Rádiólast week, station owner Emmis Communications yesterday stated that the company “will explore other venues for appeal of the unlawful taking of the station” by the government – if “any other viable forums exist,” that is.

OPINION

On Philippines’ Gambit in South China Sea

Tensions between China and the Philippines spiked in March when a small civilian boat which was trying to bring soldiers, food, and water to a grounded Philippine Navy ship was confronted by a Chinese Coast Guard vessel about 100 miles from the Philippine coast...

BUDAPEST

Budapest court requests annulment of savings coop act

The Budapest Municipal Court will request that the Constitutional Court annul the act on the integration of savings cooperatives after finding the act to be unconstitutional and in violation of rights to ownership on several points...

ECONOMY

Average earnings up 1.3% y.o.y. through February

In a round of figures released by the Central Statistics Office (KSH), in the national economy, average earnings increased by 1.3% year-on-year in the January-February 2014 period. KSH reported full-time employees’ average gross nominal earnings at HUF 226,600...

POLITICS

ICSID rules in favor of government v. Sláger Rádió

The International Centre for Settlement of Investment Disputes (ICSID) on Wednesday ruled in favor of the state of Hungary in a dispute with radio station Sláger Rádió regarding the legal authority of a 2009 decision not to renew the station’s frequency. 

POLITICS

MEKH reassures on national natural gas supply

In an apparent attempt to mollify concerns regarding the country’s natural gas supply, the Hungarian Energy Regulatory Office released a statement yesterday which promised that, under average weather conditions, imports from Western nations can meet demand for now...

BUSINESS

Initiative encourages substantive sustainability in Hungary

The concept of sustainability is undergoing a substantial change that directs efforts towards easier-to-monitor schemes. A major initiative from the Business Council for Sustainable Development in Hungary is attracting companies to sign up *and* to deliver real results...

POLITICS

Constitutional Court rejects two energy service provider complaints

The Constitutional Court has shot down two complaints from Hungary-based utility providers in an attempt by the latter to argue infringement of legal rights with regard to energy-sector taxation and certain extraordinary fees, among other issues…

BUSINESS

OTP Bank ceases operations in Crimea region

OTP Bank officials have notified local media that operations in the Crimea region of Ukraine will be ceased, effective tomorrow, due to legal uncertainty resulting from the political situation in the region...

BUSINESS

DT gets EC approval for GTS CE purchase

The purchase of Poland-based telecommunications service provider GTS Central Europe (GTS CE) by Deutsche Telekom (T-Com) went forward yesterday, as the European Commission granted full official approval for the acquisition...

BUSINESS

Eximbank, Belarus in $10 million credit agreement

The Hungarian Export-Import Bank (Eximbank) and the Development Bank of the Republic of Belarus signed a $10 million purchasing-credit agreement in Budapest yesterday...

BUDAPEST

Budapest hotel room service least expensive in Europe

In a study based on United Nations World Tourism Organization (UNWTO) data undertaken by online portal TripAdvisor.com on room service rates in 48 frequently visited destinations worldwide, Budapest hotels have earned kudos as the least expensive in the category in Europe...

ECONOMY

Mild weather helps up construction output 28.3% y.o.y. in February

The Central Statistics Office (KSH) today released some figures showing a pretty decent showing by Hungary’s construction industry in February: To wit, KSH reports a 28.3% year-on-year increase in production for the month over February 2013...

POLITICS

EC advances three infringement procedures against Hungary

The European Commission on Wednesday said it took three infringement procedures against Hungary to the next level. The procedures concern antitrust law for the farm sector, excise duties on spirits and trade of tobacco products...

BUSINESS

MVM Ovit lands HUF 14 billion contract in Jordan

MVM Ovit, a unit of the state-owned Hungarian Electricity Works (MVM), today announced its winning of a nearly HUF 14 billion contract with Jordan’s National Electric Power Company to build a 185-kilometer power line network in Amman... 

BUSINESS

Prezi to release Hungarian-language version of software

BBJ would typically wish Hungary-based SaaS producer Prezi congratulations on reaching its fifth anniversary, but it seems the company is already celebrating in its own fashion: Namely, by releasing a Hungarian-language edition of its increasingly popular presentation software.

BUSINESS

Online music sales climb 50% in Hungary

Online music sales in Hungary rose 50% to almost HUF 500 million last year, data from the Hungarian Association of Record Publishers (MaHaSz) show...

ECONOMY

€24 billion net EU funding for Hungary in 2007-2013

Preliminary data indicates that Hungary received net European Union funding of €24 billion during the EU’s 2007-2013 budgetary cycle, with some 99.8% of public investments financed from EU funds...

BUSINESS

Beer sales, output down; excessive excise tax blamed

Beer sales dropped 4.45% year-on-year in 2013, according to statistics compiled by the Association of Hungarian Brewers from top domestic producers, and output was down 2% y.o.y. to 6.185 million hectoliters.

ECONOMY

Ministry predicts 8% to 24% increase in FDI in 2014

Foreign direct investment could increase up to 24% year-on-year to €3 billion in 2014, not including large individual transactions such as transit investments or state purchase of energy companies, according to the National Economy Ministry...

expert opinion

Manila’s partial case in South China Sea

Shen Dingli

Professor, Associate Dean, Institute of International Affairs,
Fudan University

“Philippines is telling the world an incomplete story...”

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