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 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 2012-01-31T17:45:00+01:00 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 2012-01-31T17:40:00+01:00 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 2012-01-31T17:40:00+01:00 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 2012-01-31T15:20:00+01:00 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 2012-01-31T15:20:00+01:00 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 2012-01-31T15:20:00+01:00 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 2012-01-31T15:20:00+01:00 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 2012-01-31T13:40:00+01:00 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 2012-01-31T13:40:00+01:00 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 2012-01-31T13:35:00+01:00 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 2012-01-31T13:35:00+01:00 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 2012-01-31T13:35:00+01:00 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 2012-01-31T13:35:00+01:00 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 2012-01-31T13:35:00+01:00 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 2012-01-31T13:30:00+01:00 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 2012-01-31T11:10:00+01:00 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 2012-01-31T11:05:00+01:00 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 2012-01-31T11:05:00+01:00 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 2012-01-31T11:05:00+01:00 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 2012-01-31T11:05:00+01:00 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 2012-01-31T11:00:00+01:00 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 2012-01-31T09:30:00+01:00 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 2012-01-31T09:25:00+01:00 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 2012-01-31T09:25:00+01:00 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 2012-01-31T09:25:00+01:00 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 2012-01-31T09:20:00+01:00 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 2012-01-30T17:45:00+01:00 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 2012-01-30T17:45:00+01:00 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 2012-01-30T17:40:00+01:00 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 2012-01-30T17:30:00+01:00 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 2012-01-30T15:30:00+01:00 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 2012-01-30T15:30:00+01:00 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 2012-01-30T15:30:00+01:00 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 2012-01-30T15:30:00+01:00 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 2012-01-30T15:25:00+01:00 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 2012-01-30T15:25:00+01:00 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 2012-01-30T15:20:00+01:00 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 2012-01-30T15:20:00+01:00 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 2012-01-30T12:20:00+01:00 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 2012-01-30T12:20:00+01:00 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 2012-01-30T12:00:00+01:00 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 2012-01-30T09:40:00+01:00 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 2012-01-30T09:40:00+01:00 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 2012-01-30T09:40:00+01:00 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 2012-01-30T09:40:00+01:00 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 2012-01-30T09:40:00+01:00 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 2012-01-30T09:35:00+01:00 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 2012-01-27T20:25:00+01:00 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 2012-01-27T20:25:00+01:00 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 2012-01-27T20:20:00+01:00 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 2012-01-27T20:20:00+01:00 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 2012-01-27T14:40:00+01:00 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 2012-01-27T12:00:00+01:00 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 2012-01-27T12:00:00+01:00 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 2012-01-27T11:55:00+01:00 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 2012-01-27T10:00:00+01:00 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 2012-01-27T10:00:00+01:00 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 2012-01-27T09:55:00+01:00 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 2012-01-27T09:55:00+01:00 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 2012-01-27T09:50:00+01:00 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 2012-01-27T09:50:00+01:00 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 2012-01-26T18:15:00+01:00 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 2012-01-26T18:15:00+01:00 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 2012-01-26T18:15:00+01:00 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 2012-01-26T18:10:00+01:00 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 2012-01-26T18:10:00+01:00 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 2012-01-26T15:00:00+01:00 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 2012-01-26T15:00:00+01:00 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 2012-01-26T14:55:00+01:00 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 2012-01-26T14:55:00+01:00 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 2012-01-26T14:55:00+01:00 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 2012-01-26T11:30:00+01:00 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 2012-01-26T11:25:00+01:00 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 2012-01-26T11:25:00+01:00 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 2012-01-26T09:30:00+01:00 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 2012-01-26T09:25:00+01:00 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 2012-01-26T09:25:00+01:00 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 2012-01-25T18:55:00+01:00 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 2012-01-25T18:50:00+01:00 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 2012-01-25T18:50:00+01:00 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 2012-01-25T15:25:00+01:00 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 2012-01-25T15:25:00+01:00 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 2012-01-25T15:20:00+01:00 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 2012-01-25T15:20:00+01:00 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 2012-01-25T15:20:00+01:00 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 2012-01-25T13:40:00+01:00 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 2012-01-25T13:40:00+01:00 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 2012-01-25T13:35:00+01:00 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 2012-01-25T13:35:00+01:00 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 2012-01-25T13:35:00+01:00 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 2012-01-25T11:45:00+01:00 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 2012-01-25T11:40:00+01:00 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 2012-01-25T11:40:00+01:00 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 2012-01-25T11:40:00+01:00 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 2012-01-25T11:40:00+01:00 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 2012-01-25T11:35:00+01:00 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 2012-01-25T11:35:00+01:00 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 2012-01-25T11:35:00+01:00 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 2012-01-25T10:20:00+01:00 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 2012-01-25T10:05:00+01:00 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 2012-01-25T10:00:00+01:00 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 2012-01-25T10:00:00+01:00 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 2012-01-24T17:50:00+01:00 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 2012-01-24T17:50:00+01:00 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 2012-01-24T17:45:00+01:00 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 2012-01-24T17:45:00+01:00 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 2012-01-24T17:45:00+01:00 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 2012-01-24T17:40:00+01:00 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 2012-01-24T17:30:00+01:00 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 2012-01-24T15:30:00+01:00 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 2012-01-24T13:45:00+01:00 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 2012-01-24T13:45:00+01:00 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 2012-01-24T13:45:00+01:00 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-amp;a-market-declines-29percent-in-2011_62474 2012-01-24T13:45:00+01:00 http://www.bbj.hu/business/hungary-m-and-amp;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 2012-01-24T13:40:00+01:00 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 2012-01-24T11:30:00+01:00 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 2012-01-24T11:30:00+01:00 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 2012-01-24T11:30:00+01:00 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 2012-01-24T11:25:00+01:00 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 2012-01-24T11:25:00+01:00 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 2012-01-24T09:35:00+01:00 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 2012-01-24T09:30:00+01:00 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 2012-01-24T09:30:00+01:00 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 2012-01-24T09:30:00+01:00 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 2012-01-24T09:25:00+01:00 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 2012-01-24T09:25:00+01:00 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 2012-01-24T07:00:00+01:00 http://www.bbj.hu/economy/mnb-rate-hike-certain-uncertain-by-how-much-says-city_62457 The Budapest Stock Exchange’s BUX index finished Monday trade up 0.89% to 19,018.87 as OTP Bank’s gain of nearly 3.5% lifted the BSE blue-chip index above the 19,000-point closing plateau for the first time since August 8, 2011. http://www.bbj.hu/finance/bux-advances-09percent-to-close-above-19000-point-plateau-for-first-time-since-august_62456 2012-01-23T17:45:00+01:00 http://www.bbj.hu/finance/bux-advances-09percent-to-close-above-19000-point-plateau-for-first-time-since-august_62456 Hungary had a cash flow-based general government deficit, excluding local councils, of HUF 1,734.4bn at the end of December or 110.0% of the modified full-year target, the National Economy Ministry said in a second reading of the data on Monday. http://www.bbj.hu/economy/update---hungary-general-govt-deficit-in-2011-confirmed-at-110percent-of-modified-target_62455 2012-01-23T17:40:00+01:00 http://www.bbj.hu/economy/update---hungary-general-govt-deficit-in-2011-confirmed-at-110percent-of-modified-target_62455 The forint strengthened to below 300 to the euro for the first time since December 21, 2011 on Monday afternoon's interbank market, trading at 299.95 to the single European currency at 4:00 p.m. http://www.bbj.hu/finance/forint-strengthens-below-300-to-the-euro-for-first-time-in-over-a-month_62454 2012-01-23T17:15:00+01:00 http://www.bbj.hu/finance/forint-strengthens-below-300-to-the-euro-for-first-time-in-over-a-month_62454 Hungary had a cash flow-based general government deficit, excluding local councils, of HUF 1,734.4bn at the end of December or 110.0% of the modified full-year target, the National Economy Ministry said in a second reading of the data on Monday. http://www.bbj.hu/economy/hungary-general-govt-deficit-in-2011-confirmed-at-110percent-of-modified-target_62453 2012-01-23T17:10:00+01:00 http://www.bbj.hu/economy/hungary-general-govt-deficit-in-2011-confirmed-at-110percent-of-modified-target_62453 The National Bank of Hungary (MNB) received and accepted €295m 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-drops-from-last-weeks-near-peak_62452 2012-01-23T17:10:00+01:00 http://www.bbj.hu/economy/demand-for-central-bank-three-month-fx-swaps-drops-from-last-weeks-near-peak_62452 The Hungarian Chamber of Commerce and Industry (MKIK) will get 10% of the revenue from mandatory company registration fees and local business chambers will get the rest, MKIK chairman Laszlo Parragh said after an extraordinary meeting of the body on Monday. http://www.bbj.hu/business/local-business-chambers-get-bulk-of-revenue-from-mandatory-registration-fee_62451 2012-01-23T17:10:00+01:00 http://www.bbj.hu/business/local-business-chambers-get-bulk-of-revenue-from-mandatory-registration-fee_62451 Budapest Airport, operator of the capital’s Liszt Ferenc International Airport, expects passenger numbers to grow by 300,000 to 9.2m in 2012, head of the company’s air transport division Kam Jandu said at a press conference on Monday. http://www.bbj.hu/business/budapest-airport-sees-passenger-numbers-climbing-to-92m-in-2012_62449 2012-01-23T13:30:00+01:00 http://www.bbj.hu/business/budapest-airport-sees-passenger-numbers-climbing-to-92m-in-2012_62449 Hungarian oil and gas company MOL will lower its wholesale diesel price by HUF 5 per litre from Wednesday, industry insiders told MTI on Monday. http://www.bbj.hu/life/mol-to-lower-diesel-prices-from-wednesday_62448 2012-01-23T13:30:00+01:00 http://www.bbj.hu/life/mol-to-lower-diesel-prices-from-wednesday_62448 The government wants to subsidise the purchase by small tourism service providers of point-of-purchase terminals that can process payments with the SZEP Card, the main element of a new recreational voucher system, government commissioner for the issue of the cards Laszlo Kortvelyessy said on Monday. http://www.bbj.hu/economy/govt-wants-to-subsidise-purchase-of-pos-terminals-for-small-tourism-companies_62447 2012-01-23T13:25:00+01:00 http://www.bbj.hu/economy/govt-wants-to-subsidise-purchase-of-pos-terminals-for-small-tourism-companies_62447 Net transfers from the European Union to Hungary reached €1.7bn, a quarterly peak, in the fourth quarter of last year and pushed annual net EU transfers to an all-time high of €4.37bn in 2011, cash flow-based figures in the fresh quarterly report of the National Bank of Hungary (MNB) show. http://www.bbj.hu/economy/net-eu-transfers-to-hungary-reach-all-time-high-in-2011_62446 2012-01-23T13:20:00+01:00 http://www.bbj.hu/economy/net-eu-transfers-to-hungary-reach-all-time-high-in-2011_62446 Bombardier MAV, a joint venture of Canadian engineering giant Bombardier and Hungary’s state-owned railway company MAV, had revenue of HUF 8.8bn in 2011, managing director Peter Orban told MTI. http://www.bbj.hu/business/bombardier-mav-revenue-reaches-huf-88bn-in-2011_62445 2012-01-23T13:20:00+01:00 http://www.bbj.hu/business/bombardier-mav-revenue-reaches-huf-88bn-in-2011_62445 Internet-based telecommunications service provider ACE Telecom’s revenue climbed 21% to HUF 606m in 2011, managing director Adam Strelisky told MTI. http://www.bbj.hu/business/ace-telecom-revenue-rises-over-huf-600m-in-2011_62443 2012-01-23T10:05:00+01:00 http://www.bbj.hu/business/ace-telecom-revenue-rises-over-huf-600m-in-2011_62443 GKI-Erste’s combined consumer and business confidence index slipped to -26.8 points in January from -24.6points in December, nearing its all-time low of -27.6 points in November 2009. http://www.bbj.hu/economy/gki-erste-consumer-business-confidence-nears-all-time-low_62442 2012-01-23T10:05:00+01:00 http://www.bbj.hu/economy/gki-erste-consumer-business-confidence-nears-all-time-low_62442 Budapest Airport, operator of the capital’s Liszt Ferenc International Airport, expects passenger number growth to slow to 5% in 2012 from 9% in 2011, CEO Jost Lammers said in an interview published in Monday’s issue of daily Magyar Nemzet. http://www.bbj.hu/business/budapest-airport-sees-passenger-numbers-climb-5percent-in-2012_62441 2012-01-23T10:05:00+01:00 http://www.bbj.hu/business/budapest-airport-sees-passenger-numbers-climb-5percent-in-2012_62441 Hungarian oil and gas company MOL on Monday announced initial testing results of an appraisal well in the Shaikan Block in the Kurdistan region of Iraq. http://www.bbj.hu/business/mol-announces-update-on-iraq-exploration_62440 2012-01-23T10:00:00+01:00 http://www.bbj.hu/business/mol-announces-update-on-iraq-exploration_62440 The board of energy service company E-Star Alernativ appointed Csaba Soos CEO, effective immediately, on January 21, E-Start said late Friday. http://www.bbj.hu/business/e-star-chairman-appointed-ceo_62439 2012-01-23T10:00:00+01:00 http://www.bbj.hu/business/e-star-chairman-appointed-ceo_62439 Another HUF 28.5bn in capital will soon be made available to small, innovative Hungarian companies with the support of the European Union’s Jeremie programme, business daily Vilaggazdasag reported on Monday. http://www.bbj.hu/business/new-jeremie-venture-capital-funds-gain-access-to-more-than-huf-28bn_62438 2012-01-23T10:00:00+01:00 http://www.bbj.hu/business/new-jeremie-venture-capital-funds-gain-access-to-more-than-huf-28bn_62438 Distillery Gyori Szeszgar es Finomito expects revenue this year to climb 10% over last year’s HUF 7.5bn, CEO Gyorgy Follath told MTI. http://www.bbj.hu/business/distillery-gyori-szeszgyar-sees-revenue-climbing-10percent-in-2012_62437 2012-01-23T09:55:00+01:00 http://www.bbj.hu/business/distillery-gyori-szeszgyar-sees-revenue-climbing-10percent-in-2012_62437 The Budapest Stock Exchange’s blue-chip BUX index opened Monday trade down 0.17% at 18,819.32. http://www.bbj.hu/finance/bux-opens-down-02percent_62436 2012-01-23T09:55:00+01:00 http://www.bbj.hu/finance/bux-opens-down-02percent_62436 The vacancy rate on Budapest’s office space market has fallen under 20% for the first time in two years, the Budapest Real Estate Consultants Forum (BRF) told MTI. http://www.bbj.hu/business/vacancy-rate-on-budapest-office-space-market-falls-under-20percent_62432 2012-01-20T16:05:00+01:00 http://www.bbj.hu/business/vacancy-rate-on-budapest-office-space-market-falls-under-20percent_62432 The Hungarian unit of Swedish home furnishings company IKEA had revenue of HUF 33.77bn in its business year ended August 31, up 4.8% from the previous business year, IKEA Lakberendezesi said on Friday. http://www.bbj.hu/business/ikea-sales-in-hungary-climb-almost-5percent-in-2010-11-business-year_62431 2012-01-20T16:00:00+01:00 http://www.bbj.hu/business/ikea-sales-in-hungary-climb-almost-5percent-in-2010-11-business-year_62431 Hungarian pellet maker Pannon Pellet on Friday inaugurated a more than HUF 100m feedstock store at its base in Belezna (SW Hungary). http://www.bbj.hu/business/hungarian-pellet-maker-opens-huf-100m-feedstock-store_62430 2012-01-20T16:00:00+01:00 http://www.bbj.hu/business/hungarian-pellet-maker-opens-huf-100m-feedstock-store_62430 European Commission Vice President Olli Rehn told Hungarian minister without portfolio Tamas Fellegi at talks on Friday that concrete steps by Hungary on the National Bank of Hungary’s independence and the judiciary are pre-conditions for the start of formal negotiations on financial assistance, Mr Rehn’s spokesman Amadeu Altafaj Tardio said. http://www.bbj.hu/politics/steps-on-central-bank-independence-judiciary-are-pre-conditions-for-formal-negotiations-rehn-says_62428 2012-01-20T16:00:00+01:00 http://www.bbj.hu/politics/steps-on-central-bank-independence-judiciary-are-pre-conditions-for-formal-negotiations-rehn-says_62428 Hungarian Prime Minister Viktor Orban said in a radio interview early Friday that dealing with legislation the European Commission has objected to was "not an especially difficult matter", adding that the government had already taken a position on the matter and would "make proposals" that would not require an extraordinary session of Parliament. http://www.bbj.hu/politics/update---orban-says-eu-objections-to-legislation-not-difficult-to-resolve_62429 2012-01-20T15:55:00+01:00 http://www.bbj.hu/politics/update---orban-says-eu-objections-to-legislation-not-difficult-to-resolve_62429 The spa was one of the last projects designed the Kossuth Prize-winning architect Imre Makovecz before his death last September. http://www.bbj.hu/life/mako-unveils-huf-4bn-spa-designed-by-makovecz_62427 2012-01-20T15:55:00+01:00 http://www.bbj.hu/life/mako-unveils-huf-4bn-spa-designed-by-makovecz_62427 Prime Minister Viktor Orban reaffirmed Hungary’s solidarity with Austria after a meeting on Friday with Austrian Vice Chancellor Michael Spindelegger. http://www.bbj.hu/politics/orban-reaffirms-solidarity-between-hungary-and-austria_62426 2012-01-20T15:55:00+01:00 http://www.bbj.hu/politics/orban-reaffirms-solidarity-between-hungary-and-austria_62426 Minister without portfolio Tamas Fellegi recapped a "very busy two weeks" of talks preparing for the official negotiations of a financial assistance package for Hungary at a press conference in Brussels on Friday. http://www.bbj.hu/economy/fellegi-recaps-busy-fortnight-of-talks-preparing-for-financial-assistance-negotiations_62425 2012-01-20T15:55:00+01:00 http://www.bbj.hu/economy/fellegi-recaps-busy-fortnight-of-talks-preparing-for-financial-assistance-negotiations_62425 The number of mobile internet subscriptions in Hungary rose to 2.155m in December, while the number of active mobile internet subscriptions - those who used the service at some time during the previous three months - climbed to 1.696m from 1.585m a month earlier, the National Media and Infocommunications Authority (NMHH) said on Friday. http://www.bbj.hu/life/hungary-mobile-internet-subscriptions-climb-to-2155m-in-december_62423 2012-01-20T13:15:00+01:00 http://www.bbj.hu/life/hungary-mobile-internet-subscriptions-climb-to-2155m-in-december_62423 Gross wages in Hungary rose 6.0% yr/yr in November, little changed from 6.1% in October, the Central Statistics Office (KSH) said on Friday. http://www.bbj.hu/economy/update---gross-wages-rise-6percent-yr-yr-in-november_62422 2012-01-20T13:10:00+01:00 http://www.bbj.hu/economy/update---gross-wages-rise-6percent-yr-yr-in-november_62422 Hungarian winemakers can apply for about HUF 600m in funding for marketing this year, Agrarmarketing Centrum (AMC) director Peter Simon said at a conference of vintners on Thursday. http://www.bbj.hu/life/hungary-to-spend-huf-600m-on-wine-marketing-this-year_62420 2012-01-20T11:50:00+01:00 http://www.bbj.hu/life/hungary-to-spend-huf-600m-on-wine-marketing-this-year_62420 It is now up to the International Monetary Fund to decide whether to offer Hungary a Stand-By Arrangement, a precautionary loan or a combination of the two, state secretary in charge of the Prime Minister’s Office Mihaly Varga said in an interview on public television on Friday. http://www.bbj.hu/economy/ball-is-in-imfs-court-on-hungary-financial-assistance-official-says_62419 2012-01-20T11:45:00+01:00 http://www.bbj.hu/economy/ball-is-in-imfs-court-on-hungary-financial-assistance-official-says_62419 Hungarian Prime Minister Viktor Orban said in a radio interview early Friday that dealing with legislation the European Commission has objected to was "not an especially difficult matter", adding that the government had already taken a position on the matter and would "make proposals" that would not require an extraordinary session of Parliament. http://www.bbj.hu/politics/orban-says-eu-objections-to-legislation-not-difficult-to-resolve_62418 2012-01-20T11:40:00+01:00 http://www.bbj.hu/politics/orban-says-eu-objections-to-legislation-not-difficult-to-resolve_62418 All three players present on Hungary’s mobile telecommunications market have won frequency blocks in an auction for parts of the 900 MHz band, daily Magyar Nemzet said on Friday without citing any sources. http://www.bbj.hu/business/all-mobile-providers-win-blocks-in-frequency-auction---paper_62416 2012-01-20T09:50:00+01:00 http://www.bbj.hu/business/all-mobile-providers-win-blocks-in-frequency-auction---paper_62416 Hungary’s government aims to help public sector employees struggling to pay off their foreign currency-denominated mortgages with a fixed exchange rate construction, rather than by converting their forex debt into forint loans, daily Magyar Nemzet said on Friday, without citing any sources. http://www.bbj.hu/life/govt-offers-fixed-rate-plan-to-public-workers-under-mortgage-aid-program-_62415 2012-01-20T09:50:00+01:00 http://www.bbj.hu/life/govt-offers-fixed-rate-plan-to-public-workers-under-mortgage-aid-program-_62415 Hungary’s cereals harvest reached 13.8m tonnes in 2011, up 12.2% from the previous year and 2.9% more than the average annual harvest in 2006-2010, the Central Statistics Office said on Friday, citing preliminary data. http://www.bbj.hu/economy/hungary-cereal-harvest-up-12percent-in-2011_62414 2012-01-20T09:45:00+01:00 http://www.bbj.hu/economy/hungary-cereal-harvest-up-12percent-in-2011_62414 Gross wages in Hungary rose 6.0% yr/yr in November, little changed from 6.1% in October, the Central Statistics Office (KSH) said on Friday. http://www.bbj.hu/economy/gross-wages-rise-6percent-yr-yr-in-november_62413 2012-01-20T09:45:00+01:00 http://www.bbj.hu/economy/gross-wages-rise-6percent-yr-yr-in-november_62413 The Budapest Stock Exchange’s blue-chip BUX index opened Friday trade up 0.12% at 18,522.10. http://www.bbj.hu/finance/bux-opens-up-01percent_62412 2012-01-20T09:45:00+01:00 http://www.bbj.hu/finance/bux-opens-up-01percent_62412 Default insurance costs on Hungary’s sovereign debt reached a low for the new year in markets in London on Thursday as investors saw hope for a an agreement on financial assistance for the country from the International Monetary Fund and the European Union. http://www.bbj.hu/economy/hungary-default-insurance-cost-eases-to-low-for-the-year_62410 2012-01-19T18:10:00+01:00 http://www.bbj.hu/economy/hungary-default-insurance-cost-eases-to-low-for-the-year_62410 The Budapest Stock Exchange’s BUX index finished Thursday trade up 1.93% to 18,500.01 as OTP Bank’s gain of nearly 7% on an improvement in euro-zone sentiment following successful bond auctions in Spain and France lifted the BSE blue-chip index to its highest close since August 17, 2011. http://www.bbj.hu/finance/bux-advances-19percent-as-otp-lifts-index-to-five-month-high_62409 2012-01-19T18:10:00+01:00 http://www.bbj.hu/finance/bux-advances-19percent-as-otp-lifts-index-to-five-month-high_62409 Hajduboszormeny, a city in NE Hungary, has completed a 1.4km stretch of road for HUF 400m, the National Development Ministry told MTI on Thursday. http://www.bbj.hu/life/city-in-ne-hungary-builds-road-for-huf-400m_62408 2012-01-19T18:05:00+01:00 http://www.bbj.hu/life/city-in-ne-hungary-builds-road-for-huf-400m_62408 Hungarian minister without portfolio Tamas Fellegi continued informal talks in Vienna on Thursday in preparation for the start of official negotiations on financial assistance from the International Monetary Fund and the European Union, the minister’s press office said. http://www.bbj.hu/politics/fellegi-holds-talks-in-vienna_62407 2012-01-19T18:05:00+01:00 http://www.bbj.hu/politics/fellegi-holds-talks-in-vienna_62407 Representatives of the International Monetary Fund told Hungarian minister without portfolio Tamas Fellegi in Washington that Hungary had to reach an agreement with the European Union on matters of fiscal policy and the central bank before it would start official negotiations on financial assistance for the country, a summary of the talks obtained by internet portal Index.hu shows. http://www.bbj.hu/economy/hungary-must-reach-agreement-on-fiscal-policy-central-bank-with-eu-before-imf-begins-talks_62406 2012-01-19T18:05:00+01:00 http://www.bbj.hu/economy/hungary-must-reach-agreement-on-fiscal-policy-central-bank-with-eu-before-imf-begins-talks_62406 Hungary’s government hopes to close talks with the International Monetary Fund and the European Union on a financial safety net in the first quarter of this year, state secretary for economic strategy Zoltan Csefalvay said in an interview with a regional German radio broadcaster on Thursday. http://www.bbj.hu/economy/hungary-govt-expects-to-close-talks-with-imf-eu-in-q1_62405 2012-01-19T18:00:00+01:00 http://www.bbj.hu/economy/hungary-govt-expects-to-close-talks-with-imf-eu-in-q1_62405 Hungary’s tobacco industry grew almost 10% to HUF 500bn last year, industry insiders said at a press conference organised by the Hungarian Association of Tobacco Industry Investors (DBMSZ) on Thursday. http://www.bbj.hu/economy/update---hungary-tobacco-industry-expands-to-huf-500bn-in-2011_62404 2012-01-19T17:55:00+01:00 http://www.bbj.hu/economy/update---hungary-tobacco-industry-expands-to-huf-500bn-in-2011_62404 Yields fell at an auction of twelve-month discount T-bills by the Government Debt Management Agency (AKK) on Thursday. http://www.bbj.hu/economy/update---yields-fall-at-twelve-month-t-bill-auction_62402 2012-01-19T15:15:00+01:00 http://www.bbj.hu/economy/update---yields-fall-at-twelve-month-t-bill-auction_62402 The National Bank of Hungary’s Monetary Council is likely to raise rates by another 50bp at a meeting on Tuesday, according to a poll of analysts by Reuters. http://www.bbj.hu/economy/mnb-likely-to-raise-rates-50bp-at-tues-meeting---reuters-poll_62403 2012-01-19T15:10:00+01:00 http://www.bbj.hu/economy/mnb-likely-to-raise-rates-50bp-at-tues-meeting---reuters-poll_62403 Parliamentary state secretary at the Rural Development Ministry Jozsef Angyan has submitted his resignation without indicating a reason, Rural Development Minister Sandor Fazekas said on Thursday, confirming reports. http://www.bbj.hu/politics/farm-ministry-state-secretary-tenders-resignation_62401 2012-01-19T13:40:00+01:00 http://www.bbj.hu/politics/farm-ministry-state-secretary-tenders-resignation_62401 Hungarian oil and gas company MOL on Thursday inaugurated a more than HUF 300m environmentally-friendly filling station that has a charging station for electric vehicles as well as fuel pumps. http://www.bbj.hu/life/mol-inaugurates-green-filling-station_62400 2012-01-19T13:35:00+01:00 http://www.bbj.hu/life/mol-inaugurates-green-filling-station_62400 Hungary’s tobacco industry grew almost 10% to HUF 500bn last year, industry insiders said at a press conference organised by the Hungarian Association of Tobacco Industry Investors (DBMSZ) on Thursday. http://www.bbj.hu/economy/hungary-tobacco-industry-expands-to-huf-500bn-in-2011_62399 2012-01-19T13:35:00+01:00 http://www.bbj.hu/economy/hungary-tobacco-industry-expands-to-huf-500bn-in-2011_62399 The forint continued to strengthen on Thursday morning’s interbank market, trading at 303.47 to the euro at 10:15 a.m., compared to a rate of 305.44 at 5:45 p.m. on Wednesday. http://www.bbj.hu/finance/forint-strengthens-as-outlook-for-hungary-eurozone-improves_62398 2012-01-19T11:50:00+01:00 http://www.bbj.hu/finance/forint-strengthens-as-outlook-for-hungary-eurozone-improves_62398 More than 10,000 employers posted almost 33,000 new jobs at employment offices in Hungary last December, figures published on the website of the National Labour Affairs Office (NMH) show. http://www.bbj.hu/economy/number-of-new-jobs-rise-in-december_62397 2012-01-19T11:45:00+01:00 http://www.bbj.hu/economy/number-of-new-jobs-rise-in-december_62397 Yields fell at an auction of twelve-month discount T-bills by the Government Debt Management Agency (AKK) on Thursday. http://www.bbj.hu/economy/yields-fall-at-twelve-month-t-bill-auction_62396 2012-01-19T11:45:00+01:00 http://www.bbj.hu/economy/yields-fall-at-twelve-month-t-bill-auction_62396 Somlo Spirit is building a HUF 800m distillery of "palinka", the Hungarian eau de vie, in Somlovasarhely (NW Hungary), managing director Peter Feher told MTI. http://www.bbj.hu/business/somlo-spirit-building-huf-800m-palinka-distillery_62395 2012-01-19T09:55:00+01:00 http://www.bbj.hu/business/somlo-spirit-building-huf-800m-palinka-distillery_62395 The government is drafting an amendment that would take management of "baby bonds" from banks and give it to the state. http://www.bbj.hu/economy/state-not-banks-to-manage-baby-bonds---paper_62394 2012-01-19T09:55:00+01:00 http://www.bbj.hu/economy/state-not-banks-to-manage-baby-bonds---paper_62394 Hungarian industrial group Hajdu targets consolidated revenue of HUF 12.3bn in 2012, up from HUF 11.4bn in 2011, CEO of Hajdu Hajdusagi Ipari Istvan Novotni told MTI. http://www.bbj.hu/business/hajdu-sees-revenue-climbing-to-huf-123bn-in-2012_62393 2012-01-19T09:50:00+01:00 http://www.bbj.hu/business/hajdu-sees-revenue-climbing-to-huf-123bn-in-2012_62393 The Budapest Stock Exchange’s blue-chip BUX index opened Thursday trade up 0.12% at 18,171.71. http://www.bbj.hu/finance/bux-opens-up-01percent_62392 2012-01-19T09:50:00+01:00 http://www.bbj.hu/finance/bux-opens-up-01percent_62392 Hungary’s Public Procurement Arbitration Board (KDB) has rejected an appeal from Italy’s AnsaldoBreda of the result of a tender to deliver 31 trams to the city of Miskolc (NE Hungary), the decision published on the Public Procurement Arbitration Board’s website shows http://www.bbj.hu/business/procurement-watchdog-rejects-appeal-in-miskolc-tram-tender_62391 2012-01-18T18:30:00+01:00 http://www.bbj.hu/business/procurement-watchdog-rejects-appeal-in-miskolc-tram-tender_62391 The Budapest Stock Exchange’s BUX index closed Wednesday trade up 3.05% to 18,150.30, outperforming European blue-chip peers on Prime Minister Viktor Orban’s conciliatory remarks at a Wednesday-afternoon plenary session of the European Parliament regarding the European Commission’s opposition to new laws in Hungary. http://www.bbj.hu/finance/bux-gains-3percent-outperforming-blue-chip-peers-on-pms-conciliatory-remarks_62390 2012-01-18T18:30:00+01:00 http://www.bbj.hu/finance/bux-gains-3percent-outperforming-blue-chip-peers-on-pms-conciliatory-remarks_62390 The competition office (GVH) has imposed fines of a combined HUF 6m on three companies organising consumer groups for providing misleading information to consumers, GVH told MTI on Wednesday. http://www.bbj.hu/business/competition-office-fines-consumer-group-organisers_62389 2012-01-18T18:30:00+01:00 http://www.bbj.hu/business/competition-office-fines-consumer-group-organisers_62389 Prime Minister Viktor Orban said during a plenary session of the European Parliament in Strasbourg, France on Wednesday afternoon that problems that have emerged with the European Commission regarding new laws in Hungary "could easily, simply and quickly be resolved. http://www.bbj.hu/politics/pm-says-disputes-with-european-commission-can-be-swiftly-resolved_62386 2012-01-18T18:25:00+01:00 http://www.bbj.hu/politics/pm-says-disputes-with-european-commission-can-be-swiftly-resolved_62386 German car-marker Opel will manufacture 100,000 more engines at the company’s plant in Szentgotthard (W Hungary) in 2012 than it did in 2011, factory Spokeswoman Edit Legardi told MTI on Wednesday. http://www.bbj.hu/business/opel-to-rev-up-hungary-engine-production-this-year_62388 2012-01-18T18:25:00+01:00 http://www.bbj.hu/business/opel-to-rev-up-hungary-engine-production-this-year_62388 French auto maker Citroen sold 38.7% more vehicles in Hungary in 2011 than in 2010, the company’s Hungarian unit, Citroen Hungaria, told MTI on Wednesday. http://www.bbj.hu/business/citroen-sales-rise-39percent-in-2011_62387 2012-01-18T18:25:00+01:00 http://www.bbj.hu/business/citroen-sales-rise-39percent-in-2011_62387 Parliament’s Audit and Budget Committee has postponed until January 26 an extraordinary meeting originally scheduled for Friday in order to hear National Economy Minister Gyorgy Matolcsy’s assessment of the government’s 2012 budget, committee Chairman Laszlo Nyikos told MTI on Wednesday. http://www.bbj.hu/politics/parliamentary-committee-postpones-hearing-of-national-economy-minister-on-2012-budget_62384 2012-01-18T16:10:00+01:00 http://www.bbj.hu/politics/parliamentary-committee-postpones-hearing-of-national-economy-minister-on-2012-budget_62384 Only companies that raise the wages of at least two-thirds of their employees to prevent a drop of their net wages will be eligible for Hungarian state co-funding at tenders for European Union funding, the daily Vilaggazdasag reported citing National Economy State Secretary Sandor Czomba on Wednesday. http://www.bbj.hu/business/businesses-must-complement-net-wages-to-get-eu-co-funding---paper_62383 2012-01-18T16:10:00+01:00 http://www.bbj.hu/business/businesses-must-complement-net-wages-to-get-eu-co-funding---paper_62383 Water supply company Aqua Kft (Mosonmagyarovar, NW Hungary) had revenue of HUF 1.4bn last year compared to HUF 945m in 2010, and projects revenue of HUF 1.6bn for 2012, Managing Director Laszlo Leitner told MTI on Wednesday. http://www.bbj.hu/business/water-supply-company-aqua-posts-50percent-revenue-increase_62382 2012-01-18T16:05:00+01:00 http://www.bbj.hu/business/water-supply-company-aqua-posts-50percent-revenue-increase_62382 Axial Kft, which sells and services farming machines, has opened a new unit through greenfield investment of HUF 500m in Pecs (SW Hungary). http://www.bbj.hu/business/farming-machinery-trade-company-axial-opens-new-unit-in-sw-hungary_62381 2012-01-18T16:05:00+01:00 http://www.bbj.hu/business/farming-machinery-trade-company-axial-opens-new-unit-in-sw-hungary_62381 OTP Bank has raised the registered capital of its Slovak unit OTP Banka Slovensko by €10,019,496 to €78,507,897.84 based on the share subscription closed on December 16, 2011, OTP Bank announced on Wednesday. http://www.bbj.hu/business/otp-raises-capital-at-slovak-unit_62380 2012-01-18T16:05:00+01:00 http://www.bbj.hu/business/otp-raises-capital-at-slovak-unit_62380 The government has discussed Hungarian airline Malev, Government Spokesman Andras Giro-Szasz said on Wednesday, without adding further details. http://www.bbj.hu/business/the-government-has-talked-about-malev---spokesman_62379 2012-01-18T16:00:00+01:00 http://www.bbj.hu/business/the-government-has-talked-about-malev---spokesman_62379 The euro-zone debt crisis should be resolved in a way that causes no damage to states outside the zone, National Bank of Hungary (MNB) governor Andras Simor said during a roundtable discussion at the Euromoney financial conference in Vienna on Wednesday. http://www.bbj.hu/economy/update---mnb-governor-says-resolution-of-eurozone-crisis-should-not-harm-non-zone-states_62378 2012-01-18T16:00:00+01:00 http://www.bbj.hu/economy/update---mnb-governor-says-resolution-of-eurozone-crisis-should-not-harm-non-zone-states_62378 Hungarian road haulage group Waberer’s Holding had EBITDA of €47.4m in 2011, up 20% yr/yr, the company told MTI on Wednesday, based on preliminary data. http://www.bbj.hu/business/waberers-ebitda-up-20percent-yr-yr-in-2011_62377 2012-01-18T16:00:00+01:00 http://www.bbj.hu/business/waberers-ebitda-up-20percent-yr-yr-in-2011_62377 Hungary’s government is attempting to reach an agreement as soon as possible with the European Commission (EC) regarding the new laws to which the commission objects, National Economy Ministry State Secretary Zoltan Csefalvay said at the Euromoney financial conference in Vienna on Wednesday. http://www.bbj.hu/politics/ecomin-state-secretary-says-govt-striving-to-reach-agreement-with-ec_62376 2012-01-18T15:55:00+01:00 http://www.bbj.hu/politics/ecomin-state-secretary-says-govt-striving-to-reach-agreement-with-ec_62376 Vienna 2.0, the new European Bank Coordination Initiative, is of key importance to Hungary as it is about how to prevent the balance sheet correction of major banks leading to declining credit that would impede growth, EBRD Piroska Nagy told MTI in Vienna on Tuesday. http://www.bbj.hu/finance/vienna-20-initiative-important-to-hungary-ebrd-director-says_62375 2012-01-18T14:30:00+01:00 http://www.bbj.hu/finance/vienna-20-initiative-important-to-hungary-ebrd-director-says_62375 The euro-zone debt crisis should be resolved in a way that causes no damage to states outside the zone, National Bank of Hungary (MNB) governor Andras Simor said during a roundtable discussion at the Euromoney financial conference in Vienna on Wednesday. http://www.bbj.hu/economy/mnb-governor-says-resolution-of-eurozone-crisis-should-not-harm-non-zone-states_62374 2012-01-18T14:15:00+01:00 http://www.bbj.hu/economy/mnb-governor-says-resolution-of-eurozone-crisis-should-not-harm-non-zone-states_62374 Budapest-based Janosik es Tarsai has won a HUF 1.53bn tender to build a 1,843sqm non-profit office block in Debrecen (E Hungary), the latest issue of the Public Procurement Gazette shows. http://www.bbj.hu/business/winner-announced-for-non-profit-office-tender-in-e-hungary-_62373 2012-01-18T14:00:00+01:00 http://www.bbj.hu/business/winner-announced-for-non-profit-office-tender-in-e-hungary-_62373 Hungarian oil and gas company has begun construction of a HUF 300m plant at its refinery in Zalaegerszeg (W Hungary) to produce MOL-patented rubber-bitumen from a mixture of bitumen and used tires, MOL Product Development Director Andras Hollo announced on Wednesday. http://www.bbj.hu/business/mol-begins-construction-of-huf-300m-rubber-bitumen-plant-in-w-hungary_62372 2012-01-18T13:45:00+01:00 http://www.bbj.hu/business/mol-begins-construction-of-huf-300m-rubber-bitumen-plant-in-w-hungary_62372 The best the Hungarian construction industry can expect in 2012 is that the sector’s contraction will come to an end, Laszlo Koji, deputy head of building sector association EVOSZ, told MTI on Wednesday. http://www.bbj.hu/business/decline-of-industrial-investments-could-stop-in-2012_62371 2012-01-18T13:30:00+01:00 http://www.bbj.hu/business/decline-of-industrial-investments-could-stop-in-2012_62371 Hungarian navigation software developer NNG on Wednesday said it has developed a new navigational platform for HUF 750m. http://www.bbj.hu/business/nng-develops-new-navigation-platform_62370 2012-01-18T13:15:00+01:00 http://www.bbj.hu/business/nng-develops-new-navigation-platform_62370 The Hungarian Investment and Trade Agency (HITA) and the Hungarian Chamber of Commerce and Industry (MKIK) on Wednesday concluded an agreement to help SMEs in Hungary to expand their activities abroad. http://www.bbj.hu/business/trade-promotion-agency-chamber-to-support-foreign-expansion-of-smes_62368 2012-01-18T11:25:00+01:00 http://www.bbj.hu/business/trade-promotion-agency-chamber-to-support-foreign-expansion-of-smes_62368 Austro-Hungarian regional railway GYSEV carried 3.4m passengers in 2011, up 7.8% yr/yr, GYSEV Spokesman Laszlo Razo told MTI on Wednesday. http://www.bbj.hu/life/regional-railway-gysev-carries-78percent-more-passengers-in-2011_62367 2012-01-18T11:25:00+01:00 http://www.bbj.hu/life/regional-railway-gysev-carries-78percent-more-passengers-in-2011_62367 Representatives from Hungary, the Organization of Economic Cooperation and Development (OECD) Secretariat, all of the organization’s 34 member states, the European Commission and the International Monetary Fund met at the OECD’s headquarters in Paris on Tuesday to discuss the draft of the organization’s regular report on the Hungarian economy. http://www.bbj.hu/economy/delegations-discuss-oecd-draft-report-on-hungarys-economy_62366 2012-01-18T11:20:00+01:00 http://www.bbj.hu/economy/delegations-discuss-oecd-draft-report-on-hungarys-economy_62366 The government plans to decide early this week on planned support to help public sector workers to repay their FX mortgages, Government Spokesman Andras Giro-Szasz told the press on Tuesday. http://www.bbj.hu/economy/govt-to-decide-on-way-of-helping-public-employees-to-repay-fx-mortgages-this-week_62365 2012-01-18T11:20:00+01:00 http://www.bbj.hu/economy/govt-to-decide-on-way-of-helping-public-employees-to-repay-fx-mortgages-this-week_62365 German car-marker Opel will hire 210 more workers at its new, €500m assembly plant set to begin production in the town of Szentgotthard (W Hungary) this year, factory director Tamas Solt announced on Wednesday.   http://www.bbj.hu/business/opel-to-hire-210-more-workers-at-new-plant-in-w-hungary-this-year_62364 2012-01-18T09:55:00+01:00 http://www.bbj.hu/business/opel-to-hire-210-more-workers-at-new-plant-in-w-hungary-this-year_62364 The Budapest Stock Exchange’s blue-chip BUX index opened Wednesday trade up 0.52% at 17,704.34. http://www.bbj.hu/finance/bux-opens-up-05percent_62363 2012-01-18T09:55:00+01:00 http://www.bbj.hu/finance/bux-opens-up-05percent_62363 The European Commission decided to launch three infringement proceedings against Hungary, Commission President Jose Manuel Barroso said following the weekly EC meeting in Strasbourg on Tuesday. http://www.bbj.hu/politics/update---eu-to-launch-three-infringement-proceedings-against-hungary_62362 2012-01-17T17:10:00+01:00 http://www.bbj.hu/politics/update---eu-to-launch-three-infringement-proceedings-against-hungary_62362 Public sector officials from within the European Bank Coordination "Vienna" Initiative met in Vienna on Monday with the aim to enhance the coordination of national policies affecting the economies of emerging Europe, the European Bank for Reconstruction and Development (EBRD) announced late on Monday. http://www.bbj.hu/finance/update---vienna-initiative-participants-discuss-coordination-of-policies-affecting-emerging-europe_62361 2012-01-17T15:35:00+01:00 http://www.bbj.hu/finance/update---vienna-initiative-participants-discuss-coordination-of-policies-affecting-emerging-europe_62361 The European Commission decided to launch three infringement proceedings against Hungary, Commission President Jose Manuel Barroso said following the weekly EC meeting in Strasbourg on Tuesday. http://www.bbj.hu/politics/eu-to-launch-three-infringement-proceedings-against-hungary_62360 2012-01-17T15:35:00+01:00 http://www.bbj.hu/politics/eu-to-launch-three-infringement-proceedings-against-hungary_62360 Hungarian majority-owned construction company TriGranit on Tuesday said it signed a €119m loan with a syndicate of banks to raise finance for a €250m project in the Polish city of Poznan. http://www.bbj.hu/business/trigranit-signs-eur119m-syndicated-loan-for-polish-project_62359 2012-01-17T15:30:00+01:00 http://www.bbj.hu/business/trigranit-signs-eur119m-syndicated-loan-for-polish-project_62359 Hungarian co-chairman of the council Sandor Csanyi, co-chairman of the National Association of Entrepreneurs and Employers (VOSZ) emphasised that bilateral relations have been fruitful for several decades, and, on the level of declared intentions, they were stronger in 2011 than ever before. http://www.bbj.hu/business/china-hungary-business-council-holds-inaugural-session-in-budapest_62358 2012-01-17T15:30:00+01:00 http://www.bbj.hu/business/china-hungary-business-council-holds-inaugural-session-in-budapest_62358 Milling company PannonMill is raising prices by 10% from February 1 because of higher input costs, chairman-CEO Zoltan Poor said on Tuesday. http://www.bbj.hu/business/pannonmill-to-raise-prices-by-10percent-because-of-higher-costs_62357 2012-01-17T15:30:00+01:00 http://www.bbj.hu/business/pannonmill-to-raise-prices-by-10percent-because-of-higher-costs_62357 The government on Monday decided to launch a new student loan programme with separate credit lines for discretionary spending and for educational fees, government spokesman Andras Giro-Szasz said on Tuesday. http://www.bbj.hu/life/govt-to-launch-new-student-loan-program_62356 2012-01-17T15:30:00+01:00 http://www.bbj.hu/life/govt-to-launch-new-student-loan-program_62356 Engineering giant ABB has invested more than HUF 200bn in energy and automatisation projects in Hungary in the past 20 years, managing director of the company’s local unit Tanja Vainio said at a press conference on Tuesday. http://www.bbj.hu/business/abb-invests-huf-200bn-in-hungary-over-two-decades_62355 2012-01-17T13:55:00+01:00 http://www.bbj.hu/business/abb-invests-huf-200bn-in-hungary-over-two-decades_62355 The National Bank of Hungary (MNB) on Tuesday presented a publication entitled "Monetary Policy in Hungary". http://www.bbj.hu/life/mnb-presents-publication-on-monetary-policy-in-hungary_62354 2012-01-17T13:55:00+01:00 http://www.bbj.hu/life/mnb-presents-publication-on-monetary-policy-in-hungary_62354 Denmark’s Lego Group will start construction of a €125m plant in Nyiregyhaza (NE Hungary) in the summer, managing director of the company’s local unit Jens Peter Clausen said on Tuesday. http://www.bbj.hu/business/lego-to-start-building-eur125m-plant-in-hungary-in-summer_62353 2012-01-17T13:55:00+01:00 http://www.bbj.hu/business/lego-to-start-building-eur125m-plant-in-hungary-in-summer_62353 Hungarian producers will be showing at two trade fairs early this year - the Internationale Grune Woche and the international fruit and vegetable marketing fair FRUIT LOGISTICA 2012 - with support from Hungary’s Agrar Marketing Centrum (AMC), AMC told MTI in a statement. http://www.bbj.hu/life/hungarian-producers-to-exhibit-at-two-trade-fairs-in-berlin_62352 2012-01-17T13:45:00+01:00 http://www.bbj.hu/life/hungarian-producers-to-exhibit-at-two-trade-fairs-in-berlin_62352 Hungary’s economic situation and "recommended changes" to the country’s new Central Bank Act were discussed at a meeting between minister without portfolio Tamas Fellegi, National Bank of Hungary governor Andras Simor and European Central Bank governor Mario Draghi in Frankfurt on Tuesday, ECB spokeswoman Eszter Miltenyi told MTI. http://www.bbj.hu/politics/update---economy-recommended-changes-to-central-bank-act-subject-of-ecb-meeting_62351 2012-01-17T13:40:00+01:00 http://www.bbj.hu/politics/update---economy-recommended-changes-to-central-bank-act-subject-of-ecb-meeting_62351 Hungary’s government on Monday approved a proposal that would expand the range of the subsidy available to employers who raise wages to compensate lower earners for tax changes, government spokesman Andras Giro-Szasz said on Tuesday. http://www.bbj.hu/economy/govt-clears-proposal-expanding-range-of-wage-subsidies_62350 2012-01-17T12:05:00+01:00 http://www.bbj.hu/economy/govt-clears-proposal-expanding-range-of-wage-subsidies_62350 Hungary’s economic situation and "recommended changes" to the country’s new Central Bank Act were discussed at a meeting between minister without portfolio Tamas Fellegi, National Bank of Hungary governor Andras Simor and European Central Bank governor Mario Draghi in Frankfurt on Tuesday, ECB spokeswoman Eszter Miltenyi told MTI. http://www.bbj.hu/politics/economy-recommended-changes-to-central-bank-act-subject-of-ecb-meeting_62349 2012-01-17T12:05:00+01:00 http://www.bbj.hu/politics/economy-recommended-changes-to-central-bank-act-subject-of-ecb-meeting_62349 The Government Debt Management Agency (AKK) raised its sales of three-month discount T-bills on almost fourfold demand at an auction on Tuesday. http://www.bbj.hu/economy/demand-strong-yields-down-at-three-month-t-bill-auction_62348 2012-01-17T12:05:00+01:00 http://www.bbj.hu/economy/demand-strong-yields-down-at-three-month-t-bill-auction_62348 Deputy Prime Minister Tibor Navracsics said Tuesday he expected the European Commission to launch three infringement procedures against Hungary, one on the independence of the central bank, another about the retirement age of judges and prosecutors and a third on the independence of the data protection. http://www.bbj.hu/politics/deputy-pm-expects-eu-to-launch-three-infringement-procedures-against-hungary_62347 2012-01-17T12:05:00+01:00 http://www.bbj.hu/politics/deputy-pm-expects-eu-to-launch-three-infringement-procedures-against-hungary_62347 Hungarian Prime Minister Viktor Orban will address the European Parliament’s session in Strasbourg on Wednesday, Peter Szijjarto, the Prime Minister’s spokesman, told MTI late on Monday. http://www.bbj.hu/politics/hungary-pm-to-address-european-parliament-on-wednesday_62346 2012-01-17T12:00:00+01:00 http://www.bbj.hu/politics/hungary-pm-to-address-european-parliament-on-wednesday_62346 Public sector officials from within the European Bank Coordination "Vienna" Initiative met in Vienna on Monday with the aim to enhance the coordination of national policies affecting the economies of emerging Europe, the European Bank for Reconstruction and Development (EBRD) announced late on Monday. http://www.bbj.hu/finance/vienna-initiative-participants-discuss-coordination-of-policies-affecting-emerging-europe_62345 2012-01-17T09:55:00+01:00 http://www.bbj.hu/finance/vienna-initiative-participants-discuss-coordination-of-policies-affecting-emerging-europe_62345 German construction group Hochtief has decided not to sell its stakes in airport operator companies including Budapest Airport Zrt for the moment. http://www.bbj.hu/business/hochtief-no-to-sell-stake-in-budapest-airport_62344 2012-01-17T09:55:00+01:00 http://www.bbj.hu/business/hochtief-no-to-sell-stake-in-budapest-airport_62344 The Budapest Stock Exchange’s blue-chip BUX index opened Tuesday trade up 0.60% at 17,472.78. http://www.bbj.hu/finance/bux-opens-up-06percent_62343 2012-01-17T09:55:00+01:00 http://www.bbj.hu/finance/bux-opens-up-06percent_62343 Hungary’s Competition Office (GVH) on Monday said it approved RTL Group Central and Eastern Europe’s purchase of a controlling stake in media company IKO Media Holding. http://www.bbj.hu/business/competition-office-approves-rtl-group-acquisition-of-stake-in-owner-of-rtl-klub-operator_62342 2012-01-16T18:00:00+01:00 http://www.bbj.hu/business/competition-office-approves-rtl-group-acquisition-of-stake-in-owner-of-rtl-klub-operator_62342 Hungary’s Government Debt Management Agency (AKK) plans net forint issues of HUF 279bn in February-April, AKK’s latest three-month forint issue plan shows. http://www.bbj.hu/economy/hungary-govt-debt-manager-plans-net-forint-issues-of-huf-280bn-in-feb-april_62341 2012-01-16T17:55:00+01:00 http://www.bbj.hu/economy/hungary-govt-debt-manager-plans-net-forint-issues-of-huf-280bn-in-feb-april_62341 The Budapest Stock Exchange’s blue-chip BUX index closed Monday trade up 0.10%, jumping into positive territory just before closing bell after languishing in the red throughout the entire session. http://www.bbj.hu/finance/bux-gains-01percent-skipping-into-positive-territory-at-closing-bell_62340 2012-01-16T17:40:00+01:00 http://www.bbj.hu/finance/bux-gains-01percent-skipping-into-positive-territory-at-closing-bell_62340 Magyar Suzuki, the Hungarian unit of Japanese carmaker Suzuki, will not lay off workers at the company’s factory in Esztergom (N Hungary) in spite of GM’s decision to discontinue production of Opel Agila cars at the plant, Magyar Suzuki Communications Director Viktoria Ruska told MTI on Monday. http://www.bbj.hu/business/magyar-suzuki-says-will-not-downsize-despite-losing-opel-agila-contract_62339 2012-01-16T17:35:00+01:00 http://www.bbj.hu/business/magyar-suzuki-says-will-not-downsize-despite-losing-opel-agila-contract_62339 Prime Minister Viktor Orban on Monday morning introduced the government’s new rural-development programme called the Daranyi Ignac Plan. http://www.bbj.hu/economy/update---govt-launches-new-rural-development-programme_62338 2012-01-16T14:50:00+01:00 http://www.bbj.hu/economy/update---govt-launches-new-rural-development-programme_62338 The number of mobile phone subscriptions in Hungary rose 47,000 to 11,642,000 in December, the National Media and Infocommunications Authority said on Monday. http://www.bbj.hu/life/hungary-mobile-phone-subscriptions-rise-to-11690000-in-dec_62337 2012-01-16T13:10:00+01:00 http://www.bbj.hu/life/hungary-mobile-phone-subscriptions-rise-to-11690000-in-dec_62337 Peugeot sold 2,598 vehicles in Hungary in 2011, up 16% yr/yr, the company told MTI on Monday. http://www.bbj.hu/business/peugeot-sales-rise-16percent-in-hungary-last-year_62336 2012-01-16T13:10:00+01:00 http://www.bbj.hu/business/peugeot-sales-rise-16percent-in-hungary-last-year_62336 An ongoing frequency auction for frequency blocks in the 900 MHz band could bring the central budget HUF 30bn-33bn in revenue, and it will result in a state company becoming the fourth mobile service provider on the market, the national daily Nepszabadsag reported on Monday, citing market information. http://www.bbj.hu/economy/frequency-auction-could-bring-state-revenue-of-huf-30bn-33bn_62335 2012-01-16T11:50:00+01:00 http://www.bbj.hu/economy/frequency-auction-could-bring-state-revenue-of-huf-30bn-33bn_62335 Hungarian bus maker NABI could resume production of buses at the company’s plant in Kaposvar (SW Hungary) as early as March in order to fill orders from the city of Los Angeles, the daily newspaper Magyar Nemzet reported on Saturday, citing NABI CEO Ferenc Levai. http://www.bbj.hu/business/nabi-may-resume-production-at-plant-in-sw-hungary-in-march_62334 2012-01-16T11:45:00+01:00 http://www.bbj.hu/business/nabi-may-resume-production-at-plant-in-sw-hungary-in-march_62334 Prime Minister Viktor Orban on Monday morning introduced the government’s new rural-development programme called the Daranyi Ignac Plan. http://www.bbj.hu/economy/govt-launches-new-rural-development-programme_62332 2012-01-16T11:45:00+01:00 http://www.bbj.hu/economy/govt-launches-new-rural-development-programme_62332 Hungary’s performance in the construction industry improved in November, but this does not indicate an end to the decline that has been taking place in the sector for the past five years, Laszlo Koji, deputy head of building sector association EVOSZ, said on Monday, after the Central Statistics Office (KSH) published fresh data on the sector. http://www.bbj.hu/economy/hungary-construction-output-up-in-nov-but-still-on-declining-trend_62331 2012-01-16T11:45:00+01:00 http://www.bbj.hu/economy/hungary-construction-output-up-in-nov-but-still-on-declining-trend_62331 Fish-farming and fishing company Aranyponty Zrt generated revenue of over HUF 1bn in 2011, up from HUF 860m in 2010, company President-CEO Ferenc Levai told MTI on Saturday. http://www.bbj.hu/business/aranyponty-zrt-revenue-rises-to-over-huf-1bn-last-year_62330 2012-01-16T10:10:00+01:00 http://www.bbj.hu/business/aranyponty-zrt-revenue-rises-to-over-huf-1bn-last-year_62330 Leier Hungaria Kft, the Hungarian unit of construction materials manufacturer Leier International, generated revenue of HUF 17bn in 2011, up HUF 1.5bn, CEO Andor Komlos told MTI on Monday. http://www.bbj.hu/business/leier-hungaria-revenue-up-close-to-10percent-in-2011_62329 2012-01-16T10:05:00+01:00 http://www.bbj.hu/business/leier-hungaria-revenue-up-close-to-10percent-in-2011_62329 Output of Hungary’s construction sector was up 3.6% in November from the same month a year, lifted by road and railways renovation projects from a very low base, the Central Statistics Office (KSH) said on Monday. http://www.bbj.hu/economy/hungary-construction-sector-up-36percent-yr-yr-in-november_62328 2012-01-16T10:05:00+01:00 http://www.bbj.hu/economy/hungary-construction-sector-up-36percent-yr-yr-in-november_62328 The Budapest Stock Exchange’s blue-chip BUX index opened Monday trade down 0.94% at 17,186.35. http://www.bbj.hu/finance/bux-opens-down-09percent_62327 2012-01-16T09:40:00+01:00 http://www.bbj.hu/finance/bux-opens-down-09percent_62327 Hungary’s consumer inflation is likely to accelerate after the considerably south-of-consensus 4.1% year-on-year headline rate last month, but monetary policy moves will continue to be driven by the risk environment, London-based emerging markets analysts said after CPI figures for December had been released on Friday. http://www.bbj.hu/economy/cpi-to-accelerate-after-soft-dec-figures-but-mnb-is-driven-by-risks-says-city_62326 2012-01-13T18:30:00+01:00 http://www.bbj.hu/economy/cpi-to-accelerate-after-soft-dec-figures-but-mnb-is-driven-by-risks-says-city_62326 Voting rights held by foreign institutions in OTP Bank dropped to 62.5% at the end of December from 71.9% at the end of September, fresh data published by the bank show. http://www.bbj.hu/finance/foreign-institutions-voting-stake-in-otp-falls-to-625percent_62325 2012-01-13T18:30:00+01:00 http://www.bbj.hu/finance/foreign-institutions-voting-stake-in-otp-falls-to-625percent_62325 Otto Gergye, national carrier Malev’s deputy-CEO for sales, is leaving the airline for family reasons with effect from February 1, Malev told MTI on Friday. http://www.bbj.hu/business/malev-deputy-ceo-leaves-post_62324 2012-01-13T18:30:00+01:00 http://www.bbj.hu/business/malev-deputy-ceo-leaves-post_62324 The Budapest Stock Exchange’s BUX index closed Friday trade up 1.88%, outperforming its European blue-chip peer indices, most of which sustained losses on news that Standard and Poor’s may be preparing to downgrade several euro-zone countries. http://www.bbj.hu/finance/bux-posts-19percent-counter-trend-gain_62323 2012-01-13T18:25:00+01:00 http://www.bbj.hu/finance/bux-posts-19percent-counter-trend-gain_62323 Hungary’s government has decided to suspend mandatory reinjection of thermal water used exclusively for energy until June 30, 2015, the Rural Development Ministry said on Friday. http://www.bbj.hu/economy/govt-suspends-reinjection-requirement-for-thermal-water-till-2015_62322 2012-01-13T15:25:00+01:00 http://www.bbj.hu/economy/govt-suspends-reinjection-requirement-for-thermal-water-till-2015_62322 Talks on a "fiscal compact" between European Union member states are moving in a favourable direction from Hungary’s point of view of the Foreign Affairs Ministry said in a statement on Friday. http://www.bbj.hu/politics/talks-on-eu-fiscal-compact-moving-in-favourable-direction-for-hungary-says-foreign-ministry_62321 2012-01-13T15:25:00+01:00 http://www.bbj.hu/politics/talks-on-eu-fiscal-compact-moving-in-favourable-direction-for-hungary-says-foreign-ministry_62321 Hungary’s talks with the International Monetary Fund on financial assistance depend on the government’s commitment to engaging on all policy issues affecting macroeconomic policy, IMF managing director Christine Lagarde said in a statement late Thursday, after talks with Hungarian minister without portfolio Tamas Fellegi. http://www.bbj.hu/economy/fellegi-engagement-on-all-issues-affects-macro-policy-condition-for-imf-talks_62320 2012-01-13T13:40:00+01:00 http://www.bbj.hu/economy/fellegi-engagement-on-all-issues-affects-macro-policy-condition-for-imf-talks_62320 Property developer CA Immo has refinanced a loan used to purchase a 24,000sqm office building in the city centre, CA IMMO Real Estate Management Hungary told MTI. http://www.bbj.hu/business/ca-immo-refinances-loan-used-to-buy-budapest-office-property_62319 2012-01-13T13:40:00+01:00 http://www.bbj.hu/business/ca-immo-refinances-loan-used-to-buy-budapest-office-property_62319 The December increase in consumer prices in Hungary was in line with expectations, but analysts said tax increases introduced at the start of 2012 would probably lift CPI in January. http://www.bbj.hu/economy/dec-price-rise-no-surprise;-vat-increase-to-lift-jan-cpi---analysts_62318 2012-01-13T13:40:00+01:00 http://www.bbj.hu/economy/dec-price-rise-no-surprise;-vat-increase-to-lift-jan-cpi---analysts_62318 The Hungarian government will review the results of the past year and a half, including "the consolidation after the reorganisation of the country", at a series of cabinet meetings over the next two weeks, MTI learnt from government sources. http://www.bbj.hu/politics/cabinet-to-review-past-year-and-a-half_62317 2012-01-13T13:35:00+01:00 http://www.bbj.hu/politics/cabinet-to-review-past-year-and-a-half_62317 Hungary’s industrial output rose 3.5% yr/yr in November according to both adjusted and unadjusted figures, the Central Statistics Office (KSH) said on Friday, as export growth accelerated and domestic sales dropped less than a month earlier. http://www.bbj.hu/economy/update---industrial-output-up-35percent-as-exports-rise-more-domestic-sales-drop-less_62316 2012-01-13T13:30:00+01:00 http://www.bbj.hu/economy/update---industrial-output-up-35percent-as-exports-rise-more-domestic-sales-drop-less_62316 Vehicle fuel sales in Hungary fell 2.7% to 2.88bn litres in 2011, data from the Hungarian Petroleum Association (MASZ) show. http://www.bbj.hu/economy/vehicle-fuel-sales-fall-27percent-in-2011_62314 2012-01-13T11:30:00+01:00 http://www.bbj.hu/economy/vehicle-fuel-sales-fall-27percent-in-2011_62314 Hungary needs a turnaround in economic policy to recover from the current difficult economic situation, it must fully comply with the European Union regulations, the tax system must be amended and the central bank act must be brought in line with expectations, business daily Vilaggazdasag said on Friday, quoting chairman of the National Bank of Hungary supervisory board Zsigmond Jarai. http://www.bbj.hu/economy/central-bank-supervisory-board-chairman-calls-for-new-economic-policy_62313 2012-01-13T11:30:00+01:00 http://www.bbj.hu/economy/central-bank-supervisory-board-chairman-calls-for-new-economic-policy_62313 Samsonite Hungaria, the Hungarian unit of US-based suitcase maker Samsonite, has completed a HUF 765m expansion of its plant in Szekszard (S Hungary), the daily Nepszabadsag wrote on Friday. http://www.bbj.hu/business/samsonite-hungaria-completes-huf-765m-expansion-in-hungary_62312 2012-01-13T11:30:00+01:00 http://www.bbj.hu/business/samsonite-hungaria-completes-huf-765m-expansion-in-hungary_62312 State lottery company Szerencsejatek generated revenue of HUF 180bn in 2011, up 9.1% from 2010, the business daily Vilaggazdasag reported on Friday. http://www.bbj.hu/economy/state-lottery-company-revenue-up-9percent--in-2011_62311 2012-01-13T11:30:00+01:00 http://www.bbj.hu/economy/state-lottery-company-revenue-up-9percent--in-2011_62311 The government agrees with some of the European Union’s legal viewpoints regarding Hungary’s Central Bank Law and sees no obstacle to accept them, but the positions of the government and the EU with regard to the new law are far apart in some other respects, Prime Minister Viktor Orban said on a radio programme on Friday morning. http://www.bbj.hu/politics/pm-says-govt-agrees-with-some-eu-points-on-central-bank-law_62310 2012-01-13T11:25:00+01:00 http://www.bbj.hu/politics/pm-says-govt-agrees-with-some-eu-points-on-central-bank-law_62310 Airline company Travel service, a subsidiary of Czech Unimex, has drawn up its business plan for the takeover of Hungarian carrier Malev and submitted it to the Ministry of National Development, Attila Farkas, a Hungarian representative for the company, told daily Nepszabadsag on Friday. http://www.bbj.hu/business/czech-airline-lodges-business-plan-for-malev_62309 2012-01-13T11:25:00+01:00 http://www.bbj.hu/business/czech-airline-lodges-business-plan-for-malev_62309 Hungary is ready to act under an agreed programme with the IMF, it now expects a standby agreement, and the IMF wants to see steps showing the government’s strong committment before deciding on starting negotiations, statements by Hungarian Minister without portfolio Tamas Fellegi and IMF managing director Christine Lagarde late Thursday show. http://www.bbj.hu/economy/imf-wants-steps-before-deciding-on-hungary-credit_62308 2012-01-13T10:05:00+01:00 http://www.bbj.hu/economy/imf-wants-steps-before-deciding-on-hungary-credit_62308 Hungary’s industrial output rose 3.5% yr/yr in November according to both adjusted and unadjusted figures, the Central Statistics Office (KSH) said on Friday, as export growth accelerated and domestic sales dropped less than a month earlier. http://www.bbj.hu/economy/industrial-output-up-35percent-as-exports-rise-more-domestic-sales-drop-less_62307 2012-01-13T10:00:00+01:00 http://www.bbj.hu/economy/industrial-output-up-35percent-as-exports-rise-more-domestic-sales-drop-less_62307 Consumer prices in Hungary rose 4.1% year-on-year in December, slowing from a 4.3% increase in November, the Central Statistics Office (KSH) said on Friday. http://www.bbj.hu/economy/hungary-consumer-price-increase-slows-to-41percent-in-december_62306 2012-01-13T10:00:00+01:00 http://www.bbj.hu/economy/hungary-consumer-price-increase-slows-to-41percent-in-december_62306 The Budapest Stock Exchange’s blue-chip BUX index opened Friday trade up 0.39% at 17,096.12. http://www.bbj.hu/finance/bux-opens-up-04percent_62305 2012-01-13T10:00:00+01:00 http://www.bbj.hu/finance/bux-opens-up-04percent_62305 The Budapest Stock Exchange’s BUX index closed Thursday trade up 1.62% to 17,030.52 as an advance of nearly 4.5% from heavyweight issuer OTP Bank lifted the blue-chip index to its third substantial gain of the week. http://www.bbj.hu/finance/bux-rises-16percent-on-sharp-gains-by-otp_62304 2012-01-12T17:45:00+01:00 http://www.bbj.hu/finance/bux-rises-16percent-on-sharp-gains-by-otp_62304 Only commitments, but not payments, of the European Union’s Cohesion Fund may be suspended in part or whole on the basis of a decree, Hungary’s Foreign Ministry told MTI on Thursday. http://www.bbj.hu/politics/ministry-acknowledges-cohesion-fund-commitments-but-not-payments-may-be-suspended_62303 2012-01-12T17:45:00+01:00 http://www.bbj.hu/politics/ministry-acknowledges-cohesion-fund-commitments-but-not-payments-may-be-suspended_62303 The twelfth annual edition of "Best of Budapest", a compilation of the capital’s best hotels and restaurants, was presented on Thursday. http://www.bbj.hu/life/new-edition-of-best-of-budapest-launched_62302 2012-01-12T17:45:00+01:00 http://www.bbj.hu/life/new-edition-of-best-of-budapest-launched_62302 Fitch Ratings on Thursday said it downgraded four Hungarian banks, about a week after it cut Hungary’s sovereign rating a notch under "investment grade". http://www.bbj.hu/finance/fitch-downgrades-four-hungarian-banks_62301 2012-01-12T17:40:00+01:00 http://www.bbj.hu/finance/fitch-downgrades-four-hungarian-banks_62301 Unisys Global Services Hungary will open a call centre in Pecs (SW Hungary) in the spring, local news portal Pecsi Ujsag said on Thursday. http://www.bbj.hu/business/unisys-global-services-to-open-call-centre-in-hungary_62300 2012-01-12T17:40:00+01:00 http://www.bbj.hu/business/unisys-global-services-to-open-call-centre-in-hungary_62300 The European Commission will use all of its powers to ensure Hungary complies with European Union principles, Commission President Jose Manuel Barroso said on Thursday. http://www.bbj.hu/politics/barroso-ec-to-use-all-powers-to-ensure-hungary-complies-with-eu-principles_62299 2012-01-12T17:40:00+01:00 http://www.bbj.hu/politics/barroso-ec-to-use-all-powers-to-ensure-hungary-complies-with-eu-principles_62299 Hungarian financial market watchdog PSZAF on Thursday said it cleared the acquisition of Magyarorszagi Volksbank by Sberbank of Russia. http://www.bbj.hu/finance/pszaf-clears-sberbank-acquisition-of-magyarorszagi-volksbank_62298 2012-01-12T14:50:00+01:00 http://www.bbj.hu/finance/pszaf-clears-sberbank-acquisition-of-magyarorszagi-volksbank_62298 Parliament’s Audit and Budget Committee has called an extraordinary meeting for January 20 to hear an assessment of the 2012 budget by National Economy Minister Gyorgy Matolcsy, the invitation to the meeting published on the website of Parliament shows. http://www.bbj.hu/politics/opposition-mps-summon-matolcsy-to-committee-meeting_62297 2012-01-12T14:50:00+01:00 http://www.bbj.hu/politics/opposition-mps-summon-matolcsy-to-committee-meeting_62297 Hungary’s Government Debt Management Agency (AKK) raised its offers for all three terms on strong demand at a bond auction on Thursday. http://www.bbj.hu/economy/akk-raises-offers-on-strong-demand-at-bond-auction_62296 2012-01-12T14:50:00+01:00 http://www.bbj.hu/economy/akk-raises-offers-on-strong-demand-at-bond-auction_62296 A funding deal between Hungary and the IMF would be positive but would not automatically trigger an improvement in the crisis-racked country’s rating outlook, a senior official from Fitch rating agency told Reuters on Thursday. http://www.bbj.hu/economy/imf-eu-deal-no-automatic-trigger-for-improved-rating-outlook-says-fitch_62295 2012-01-12T14:45:00+01:00 http://www.bbj.hu/economy/imf-eu-deal-no-automatic-trigger-for-improved-rating-outlook-says-fitch_62295 Kecskemet College (C Hungary) is teaming up with the local units of German carmaker Daimler and brake maker Knorr-Bremse on the launch of practice-oriented instruction from the autumn of 2012, said rector Jozsef Danyi. http://www.bbj.hu/life/kecskemet-college-forms-partnerships-with-daimler-knorr-bremse_62294 2012-01-12T14:45:00+01:00 http://www.bbj.hu/life/kecskemet-college-forms-partnerships-with-daimler-knorr-bremse_62294 OTP Bank on Thursday said it raised registered capital at its unit in Serbia by RSD 495m (€4.76m) to RSD 7.148bn. http://www.bbj.hu/finance/otp-bank-raises-capital-at-serbian-unit_62293 2012-01-12T14:45:00+01:00 http://www.bbj.hu/finance/otp-bank-raises-capital-at-serbian-unit_62293 Baktai Ipari Park on Thursday unveiled a HUF 765m industrial park in Baktaloranthaza (NE Hungary). http://www.bbj.hu/business/huf-765m-industrial-park-unveiled-in-ne-hungary_62292 2012-01-12T14:45:00+01:00 http://www.bbj.hu/business/huf-765m-industrial-park-unveiled-in-ne-hungary_62292 Germany’s BayernLB on Thursday said it expects to close 2011 with a net loss because of write-downs at its Hungarian unit MKB Bank. http://www.bbj.hu/finance/write-downs-at-hungarian-unit-expected-to-push-bayernlb-into-red-for-2011_62291 2012-01-12T14:40:00+01:00 http://www.bbj.hu/finance/write-downs-at-hungarian-unit-expected-to-push-bayernlb-into-red-for-2011_62291 Minister without portfolio Tamas Fellegi will travel to Germany on Monday and Tuesday for talks with European Central Bank governor Mario Draghi and Bundesbank governor Jens Weidmann, Mr Fellegi’s press office told MTI on Thursday, responding to a question. http://www.bbj.hu/politics/fellegi-to-make-rounds-in-europe-after-return-from-us_62290 2012-01-12T14:40:00+01:00 http://www.bbj.hu/politics/fellegi-to-make-rounds-in-europe-after-return-from-us_62290 The historic Aranybika Hotel in Debrecen (E Hungary) is being put on the block for the ninth time by its liquidator, business daily Napi Gazdasag said on Thursday. http://www.bbj.hu/business/liquidator-offers-historic-hotel-for-ninth-time---paper_62289 2012-01-12T11:30:00+01:00 http://www.bbj.hu/business/liquidator-offers-historic-hotel-for-ninth-time---paper_62289 An agreement reached earlier between Hungarian banks and the government could be of help at Hungary’s talks with the International Monetary Fund, Hungarian Banking Association chairman Mihaly Patai said in an interview in the fresh issue of weekly Heti Valasz. http://www.bbj.hu/economy/govt-agreement-with-banks-could-help-at-imf-talk---paper_62288 2012-01-12T11:30:00+01:00 http://www.bbj.hu/economy/govt-agreement-with-banks-could-help-at-imf-talk---paper_62288 The National Economy Ministry on Wednesday reiterated that talks underway with the International Monetary Fund aim to prepare for official negotiations and establish preliminary positions. http://www.bbj.hu/economy/talks-with-imf-preparation-for-official-negotiations-says-ministry_62287 2012-01-12T09:55:00+01:00 http://www.bbj.hu/economy/talks-with-imf-preparation-for-official-negotiations-says-ministry_62287 Surplus forint liquidity of Hungary’s banking sector fell in December from a month earlier as currency in circulation rose in the run-up to the holidays and central bank forex swaps increased because banks diverted liquidity into overnight deposits as a cautionary measure, the National Bank of Hungary said in its preliminary statistical balance sheet published on Thursday. http://www.bbj.hu/finance/surplus-liquidity-of-hungary-banking-sector-falls-in-december_62286 2012-01-12T09:55:00+01:00 http://www.bbj.hu/finance/surplus-liquidity-of-hungary-banking-sector-falls-in-december_62286 Farm gate prices in Hungary rose 11.8% year-on-year in November, slowing from a 13.4% increase in October, the Central Statistics Office (KSH) said on Thursday. http://www.bbj.hu/economy/hungary-farm-gate-prices-climb-118percent-in-november_62285 2012-01-12T09:55:00+01:00 http://www.bbj.hu/economy/hungary-farm-gate-prices-climb-118percent-in-november_62285 More than 6,700 jobs will cease to exist in the public sector under a cabinet decision published in the official gazette Magyar Kozlony on Wednesday. http://www.bbj.hu/economy/over-6700-to-be-laid-off-in-public-sector_62284 2012-01-12T09:50:00+01:00 http://www.bbj.hu/economy/over-6700-to-be-laid-off-in-public-sector_62284 The Budapest Stock Exchange’s blue-chip BUX index opened Thursday trade up 0.13% at 16,781.98. http://www.bbj.hu/finance/bux-opens-up-01percent_62283 2012-01-12T09:50:00+01:00 http://www.bbj.hu/finance/bux-opens-up-01percent_62283 K&H Bank’s quarterly index of SME confidence declined 18 points in the fourth quarter of 2011 to minus-44 points, the index’s lowest reading since the onset of the global financial and economic crisis, the bank reported on Wednesday. http://www.bbj.hu/business/k-and-amp;h-bank-sme-confidence-index-falls-to-lowest-point-since-onset-of-crisis_62282 2012-01-11T17:35:00+01:00 http://www.bbj.hu/business/k-and-amp;h-bank-sme-confidence-index-falls-to-lowest-point-since-onset-of-crisis_62282 The Budapest Stock Exchange’s blue-chip BUX index closed Wednesday trade down 1.81% to 16,759.52 as the European Commission’s midday announcement that it believes Hungary has failed to take sustainable steps to reduce the country’s deficit compounded early losses stemming from rising risk-aversion and a negative correction of gains posted in the first two sessions of the week. http://www.bbj.hu/finance/bux-drops-18percent-as-ec-criticism-of-hungarys-deficit-reduction-measures-magnifies-losses_62281 2012-01-11T17:35:00+01:00 http://www.bbj.hu/finance/bux-drops-18percent-as-ec-criticism-of-hungarys-deficit-reduction-measures-magnifies-losses_62281 The National Bank of Hungary’s Monetary Council voted 5:2 to raise the central bank’s key rate by 50bp to 7.00% at a meeting on December 20, the condensed minutes of the meeting published on Wednesday show. http://www.bbj.hu/economy/rate-setters-voted-52-for-december-tightening-minutes-show_62278 2012-01-11T15:25:00+01:00 http://www.bbj.hu/economy/rate-setters-voted-52-for-december-tightening-minutes-show_62278 Analysts estimate consumer price inflation slowed to 4.1% year-on-year in December from 4.3% in November, business daily Napi Gazdasag said on Wednesday. http://www.bbj.hu/economy/analysts-put-dec-cpi-at-41percent_62277 2012-01-11T15:25:00+01:00 http://www.bbj.hu/economy/analysts-put-dec-cpi-at-41percent_62277 The European Commission on Wednesday said Hungary had failed to make sufficient progress to narrow its fiscal deficit as part of an European Union procedure. http://www.bbj.hu/economy/european-commission-gives-hungary-bad-marks-in-excessive-deficit-procedure_62275 2012-01-11T13:55:00+01:00 http://www.bbj.hu/economy/european-commission-gives-hungary-bad-marks-in-excessive-deficit-procedure_62275 German discount chain Lidl is launching mobile telecommunications services in Hungary, daily Nepszabadsag said on Wednesday, citing the website hwsw. http://www.bbj.hu/business/lidl-to-launch-mobile-services-in-hungary_62274 2012-01-11T13:55:00+01:00 http://www.bbj.hu/business/lidl-to-launch-mobile-services-in-hungary_62274 Hungary’s National Economy Ministry has submitted an proposal to the government that would expand the range of the subsidy available to employers who raise wages to compensate lower earners for tax changes, state secretary for employment Sandor Czomba said in an interview published in Wednesday’s issue of business daily Vilaggazdasag. http://www.bbj.hu/economy/ministry-proposal-would-expand-wage-compensation-subsidy_62273 2012-01-11T13:50:00+01:00 http://www.bbj.hu/economy/ministry-proposal-would-expand-wage-compensation-subsidy_62273 Shares of Szekesfehervari Hutoipari (Fevita) will be delisted from the Budapest Stock Exchange on January 31, the frozen foods company said on Wednesday. http://www.bbj.hu/finance/fevita-shares-to-be-delisted-on-january-31_62271 2012-01-11T12:00:00+01:00 http://www.bbj.hu/finance/fevita-shares-to-be-delisted-on-january-31_62271 The outlook of Hungarian SMEs continues to deteriorate, a gauge of confidence in the sector by OTP Bank and Policy Agenda shows. http://www.bbj.hu/economy/otp-outlook-for-hungarian-smes-worsens_62269 2012-01-11T12:00:00+01:00 http://www.bbj.hu/economy/otp-outlook-for-hungarian-smes-worsens_62269 Austrian banks are sufficiently capitalised and thus in no danger because of their exposure in Hungary, Austrian National Bank governor Ewal Nowotny said on Austrian public radio on Wednesday. http://www.bbj.hu/finance/exposure-to-hungary-no-danger-for-austrian-banks-says-central-banker_62268 2012-01-11T12:00:00+01:00 http://www.bbj.hu/finance/exposure-to-hungary-no-danger-for-austrian-banks-says-central-banker_62268 A civil initiative to establish a low-cost internet bank for the benefit of Hungarian borrowers with foreign currency-denominated loans has registered Webbank with the company court, Gyorgy Doubravszky, who heads the initiative, told MTI on Wednesday. http://www.bbj.hu/finance/webbank-registered-in-civil-government-initiative_62267 2012-01-11T11:55:00+01:00 http://www.bbj.hu/finance/webbank-registered-in-civil-government-initiative_62267 The chairman of Hungary’s troubled national carrier Malev assured passengers in an interview on public television on Wednesday that the airline would continue to fly in spite of a recent European Commission decision ordering the recovery of HUF 70bn-100bn in illegal state aid. http://www.bbj.hu/business/malev-chief-reassures-passengers-airline-will-continue-to-fly_62266 2012-01-11T11:55:00+01:00 http://www.bbj.hu/business/malev-chief-reassures-passengers-airline-will-continue-to-fly_62266 A deal with the IMF "now looks closer than it has done for some time" but it would be "complacent" to think that there are no further obstacles ahead and that a deal can be secured quickly, London-based emerging markets analysts said on Tuesday. http://www.bbj.hu/economy/imf-programme-closer-than-before-but-dont-expect-quick-deal-says-city_62265 2012-01-11T09:50:00+01:00 http://www.bbj.hu/economy/imf-programme-closer-than-before-but-dont-expect-quick-deal-says-city_62265 Irish baler and wrapper maker McHale is spending HUF 500m to update technology at its manufacturing base in the Hungarian city of Szolnok, business daily Vilaggazdasag said on Wednesday. http://www.bbj.hu/business/mchale-invests-huf-500m-at-base-in-hungary---paper_62264 2012-01-11T09:50:00+01:00 http://www.bbj.hu/business/mchale-invests-huf-500m-at-base-in-hungary---paper_62264 The Budapest Stock Exchange’s blue-chip BUX index opened Wednesday trade down 0.06% at 17,058.52. http://www.bbj.hu/finance/bux-opens-slightly-lower_62263 2012-01-11T09:45:00+01:00 http://www.bbj.hu/finance/bux-opens-slightly-lower_62263 The Budapest Stock Exchange’s blue-chip BUX index closed Tuesday trade up 2.40% to 17,068.69 as strong overnight results from US aluminum company Alcoa and Fitch’s Tuesday-afternoon statement that it does not expect to downgrade France this year boosted sentiment at bourses throughout Europe. http://www.bbj.hu/finance/bux-soars-as-alcoa-results-fitch-statement-boost-sentiment_62258 2012-01-10T17:40:00+01:00 http://www.bbj.hu/finance/bux-soars-as-alcoa-results-fitch-statement-boost-sentiment_62258 Hungarian energy supplier and trader Alteo on Tuesday said it raised HUF 400m in a private placement bond issue. http://www.bbj.hu/finance/alteo-raises-huf-400m-in-bond-issue_62257 2012-01-10T17:40:00+01:00 http://www.bbj.hu/finance/alteo-raises-huf-400m-in-bond-issue_62257 The National Economy Ministry on Tuesday confirmed that Hungary’s ESA accrual-based general government deficit, excluding one-off items, would be under the target of 2. http://www.bbj.hu/economy/ministry-says-hungary-will-meet-esa-deficit_62256 2012-01-10T17:35:00+01:00 http://www.bbj.hu/economy/ministry-says-hungary-will-meet-esa-deficit_62256 The forint traded at 310.72 to the euro late Tuesday, firming from 315.39 on Monday on news of talks in Washington between Hungary’s chief negotiator for financial assistance and representatives of the IMF. http://www.bbj.hu/finance/forint-firms-on-imf-talks_62255 2012-01-10T17:35:00+01:00 http://www.bbj.hu/finance/forint-firms-on-imf-talks_62255 IT Services Hungary on Tuesday said it will establish a new research and development centre in Budapest this year. http://www.bbj.hu/business/it-services-hungary-setting-up-r-and-amp;d-centre_62254 2012-01-10T15:25:00+01:00 http://www.bbj.hu/business/it-services-hungary-setting-up-r-and-amp;d-centre_62254 The Monetary Council of the National Bank of Hungary (MNB) said it stands ready, if necessary, to use the available tools to maintain a predictable economic environment, ensure price stability and preserve the stability of the financial system, thus contributing to economic growth, the central bank said after a non-rate-setting meeting of the Council on Tuesday. http://www.bbj.hu/economy/monetary-council-ready-to-use-available-tools-to-preserve-price-financial-stability_62253 2012-01-10T15:25:00+01:00 http://www.bbj.hu/economy/monetary-council-ready-to-use-available-tools-to-preserve-price-financial-stability_62253 Fitch Ratings on Tuesday said Hungarian oil and gas company MOL’s ratings were unaffected by a downgrade of Hungary’s sovereign ratings on Friday. http://www.bbj.hu/business/mols-fitch-ratings-unaffected-by-hungary-downgrade_62252 2012-01-10T15:25:00+01:00 http://www.bbj.hu/business/mols-fitch-ratings-unaffected-by-hungary-downgrade_62252 Hungarian oil and gas company MOL on Tuesday said Romania’s competition authority fined its local unit RON 80.3m (€18.5m) for an alleged breach of anti-trust rules. http://www.bbj.hu/business/romanian-competition-authority-fines-mol-unit-eur185m_62251 2012-01-10T15:20:00+01:00 http://www.bbj.hu/business/romanian-competition-authority-fines-mol-unit-eur185m_62251 Arpad Kovacs, the former head of the State Audit Office (ASZ), was appointed on Tuesday by the president of the republic to chair the Fiscal Council. http://www.bbj.hu/economy/update---former-state-audit-office-chief-to-chair-fiscal-council_62250 2012-01-10T15:20:00+01:00 http://www.bbj.hu/economy/update---former-state-audit-office-chief-to-chair-fiscal-council_62250 Hungary's government could take a decision on troubled national carrier Malev already at a cabinet meeting on January 16, based on proposals by the National Development Ministry, the ministry said on Tuesday. http://www.bbj.hu/economy/govt-could-take-decision-on-malev-on-jan-16-_62249 2012-01-10T15:20:00+01:00 http://www.bbj.hu/economy/govt-could-take-decision-on-malev-on-jan-16-_62249 Retail food sales in Hungary rose 4% in value terms in the twelve months to last November from the previous twelve-month period, market research company Nielsen told MTI on Tuesday. http://www.bbj.hu/economy/hungary-retail-food-sales-edge-up-4percent---nielsen_62248 2012-01-10T15:15:00+01:00 http://www.bbj.hu/economy/hungary-retail-food-sales-edge-up-4percent---nielsen_62248 Minister without portfolio Tamas Fellegi will meet with Vice President of the European Commission Olli Rehn on January 20, a spokesman for Mr Rehn said on Tuesday. http://www.bbj.hu/politics/fellegi-rehn-to-meet-on-jan-20_62243 2012-01-10T13:25:00+01:00 http://www.bbj.hu/politics/fellegi-rehn-to-meet-on-jan-20_62243 The government will soon allocate about HUF 500m for tasks outlined in the Act on Hungaricums, daily Magyar Nemzet said on Tuesday. http://www.bbj.hu/life/govt-to-allocate-huf-500m-for-hungaricums_62241 2012-01-10T11:50:00+01:00 http://www.bbj.hu/life/govt-to-allocate-huf-500m-for-hungaricums_62241 Arpad Kovacs, the former head of the State Audit Office (ASZ), was appointed on Tuesday by the president of the republic to chair the Fiscal Council. http://www.bbj.hu/economy/former-state-audit-office-chief-to-chair-fiscal-council_62240 2012-01-10T11:50:00+01:00 http://www.bbj.hu/economy/former-state-audit-office-chief-to-chair-fiscal-council_62240 Demand was strong and yields fell at an auction of discount three-month T-bills by the Government Debt Management Agency (AKK) on Tuesday. http://www.bbj.hu/economy/demand-strong-yields-down-at-three-month-t-bill-auction_62238 2012-01-10T11:50:00+01:00 http://www.bbj.hu/economy/demand-strong-yields-down-at-three-month-t-bill-auction_62238 Government Minister without Portfolio Tamas Fellegi began talks in Washington on Monday with representatives from the International Monetary Fund regarding a financial-assistance package for Hungary, the Embassy of Hungary in Washington DC informed MTI on Monday evening. http://www.bbj.hu/politics/fellegi-begins-talks-with-imf_62239 2012-01-10T11:50:00+01:00 http://www.bbj.hu/politics/fellegi-begins-talks-with-imf_62239 The number of guest nights at commercial accommodations in Hungary reached 1.206m in November, up 0,6% from a year earlier, after adding 3.0% yr/yr in October, and gross revenue was up 7.8% to HUF 18.744bn, after a fall of 0.5% in October, the Central Statistics Office (KSH) said on Tuesday. http://www.bbj.hu/business/hungary-guest-nights-up-06percent-in-november;-revenue-up-78percent_62233 2012-01-10T09:55:00+01:00 http://www.bbj.hu/business/hungary-guest-nights-up-06percent-in-november;-revenue-up-78percent_62233 Fiscal Council Chairman Zsigmond Jarai told MTI on Tuesday morning that he has resigned from the post effective immediately. http://www.bbj.hu/economy/fiscal-council-chairman-jarai-resigns_62232 2012-01-10T09:55:00+01:00 http://www.bbj.hu/economy/fiscal-council-chairman-jarai-resigns_62232 The Budapest Stock Exchange’s blue-chip BUX index opened Tuesday trade up 0.46% at 16,745.49. http://www.bbj.hu/finance/bux-opens-up-05percent_62231 2012-01-10T09:50:00+01:00 http://www.bbj.hu/finance/bux-opens-up-05percent_62231 The Budapest Stock Exchange’s blue-chip BUX index closed Monday trade up 3.48% to 16,668.12 as optimism reigned at the BSE despite losses at bourses throughout Europe. http://www.bbj.hu/finance/bux-posts-35percent-counter-trend-advance_62230 2012-01-09T17:55:00+01:00 http://www.bbj.hu/finance/bux-posts-35percent-counter-trend-advance_62230 Hungary had a cash flow-based general government deficit, excluding local councils, of HUF 1,734.4bn at the end of December or 110.0% of the modified full-year target, the National Economy Ministry said in a preliminary report on Monday. http://www.bbj.hu/economy/hungary-general-govt-deficit-110percent-of-target-in-2011_62229 2012-01-09T17:55:00+01:00 http://www.bbj.hu/economy/hungary-general-govt-deficit-110percent-of-target-in-2011_62229 Hungary’s biggest digital television companies had 1,627,000 subscribers at the end of November 2011, up about 23,000 from a month earlier, the National Media and Infocommunications Authority (NMHH) said on Monday. http://www.bbj.hu/life/digital-tv-subscription-number-rises-about-23000-in-november_62228 2012-01-09T17:50:00+01:00 http://www.bbj.hu/life/digital-tv-subscription-number-rises-about-23000-in-november_62228 The Government Debt Management Agency (AKK) on Monday announced offers for a bond auction to be held on Thursday, in line with a newly adopted practice. http://www.bbj.hu/economy/akk-announces-bond-offers-for-thursday-auction_62226 2012-01-09T16:20:00+01:00 http://www.bbj.hu/economy/akk-announces-bond-offers-for-thursday-auction_62226 The European Commission will soon prepare an analysis of Hungary’s new Central Bank Act, a spokesman for Vice President of the Commission Olli Rehn said on Monday. http://www.bbj.hu/politics/ec-to-prepare-analysis-of-hungary-central-bank-act-soon_62225 2012-01-09T16:20:00+01:00 http://www.bbj.hu/politics/ec-to-prepare-analysis-of-hungary-central-bank-act-soon_62225 The government has prepared a report for the Council of the EU and the European Commission on its measures taken in order to have the EU’s excessive deficit procedure abrogated, describing the consolidation measures included in the 2012 budget act in order to achieve the deficit target of 2.5% of GDP, according to a document dated December 2011 and posted on the official government website kormany.hu now. http://www.bbj.hu/economy/govt-prepares-report-on-measures-to-have-eu-excessive-deficit-procedure-abrogated_62224 2012-01-09T16:15:00+01:00 http://www.bbj.hu/economy/govt-prepares-report-on-measures-to-have-eu-excessive-deficit-procedure-abrogated_62224 The National Bank of Hungary (MNB) received and accepted €40m bids for floating-rate three month EUR/HUF swaps at its regular weekly tender on Monday. http://www.bbj.hu/economy/demand-for-three-month-fx-swaps-drops-to-eur40m-at-central-bank-tender_62223 2012-01-09T16:15:00+01:00 http://www.bbj.hu/economy/demand-for-three-month-fx-swaps-drops-to-eur40m-at-central-bank-tender_62223 The European Commission on Monday said it ordered Hungary to recover illegal state aid to national airline Malev between 2007 and 2010. http://www.bbj.hu/business/update---european-commission-orders-hungary-to-recover-illegal-state-aid-to-malev--_62222 2012-01-09T16:15:00+01:00 http://www.bbj.hu/business/update---european-commission-orders-hungary-to-recover-illegal-state-aid-to-malev--_62222 As the forint slipped to record lows against the forint last week, Slovakians flocked across the border to do their shopping in Hungary, Hungarian language Slovakian daily Uj Szo said on Monday. http://www.bbj.hu/life/weak-forint-strong-incentive-for-slovak-shoppers_62221 2012-01-09T13:40:00+01:00 http://www.bbj.hu/life/weak-forint-strong-incentive-for-slovak-shoppers_62221 Demand was unusually large for the HUF 40bn six-week "liquidity" T-bills on offer and sold by the Government Debt Management Agency (AKK) at an auction on Monday. Yields were well below the closest, three-month secondary market benchmark. http://www.bbj.hu/finance/large-demand-for-six-week-t-bills-at-auction_62220 2012-01-09T13:40:00+01:00 http://www.bbj.hu/finance/large-demand-for-six-week-t-bills-at-auction_62220 Hungary’s trade surplus was less than expected in November, analysts told MTI. http://www.bbj.hu/economy/nov-trade-surplus-smaller-than-expected---analysts_62219 2012-01-09T13:40:00+01:00 http://www.bbj.hu/economy/nov-trade-surplus-smaller-than-expected---analysts_62219 Hungarian oil and gas company MOL is to raise its wholesale petrol and diesel prices both by HUF 10 from Wednesday, industry insiders told MTI on Monday. http://www.bbj.hu/life/mol-to-raise-fuel-prices-to-new-historical-records_62218 2012-01-09T13:35:00+01:00 http://www.bbj.hu/life/mol-to-raise-fuel-prices-to-new-historical-records_62218 The European Commission on Monday said it ordered Hungary to recover illegal state aid to national airline Malev between 2007 and 2010. http://www.bbj.hu/business/european-commission-orders-hungary-to-recover-illegal-state-aid-to-malev--_62217 2012-01-09T13:35:00+01:00 http://www.bbj.hu/business/european-commission-orders-hungary-to-recover-illegal-state-aid-to-malev--_62217 As Parliament has adopted legislation constituting the new economic system, there will be no economic laws on Parliament’s agenda in the next months, and "everyone can be certain that the government will not submit any bills regarding the economy during the talks", Prime Minister Orban said. http://www.bbj.hu/economy/hungary-has-no-preconditions-for-imf-talks-pm-says-–-part-2_62216 2012-01-09T11:25:00+01:00 http://www.bbj.hu/economy/hungary-has-no-preconditions-for-imf-talks-pm-says-–-part-2_62216 Budapest mayor Istvan Tarlos said in a radio interview on Monday that he sent a package of proposals on the capital’s troubled public transport company to Prime Minister Viktor Orban. http://www.bbj.hu/life/budapest-mayor-sends-pm-proposal-on-bkv-aid_62215 2012-01-09T11:20:00+01:00 http://www.bbj.hu/life/budapest-mayor-sends-pm-proposal-on-bkv-aid_62215 Carbonex, a company that deals primarily in retail sale of coal, was unprofitable for the first time in its twenty-year history last year, Carbonex CEO Deszo Bodi told the business daily Vilaggazdasag in an interview published on Monday.  http://www.bbj.hu/business/carbonex-unprofitable-for-first-time-last-year_62214 2012-01-09T11:20:00+01:00 http://www.bbj.hu/business/carbonex-unprofitable-for-first-time-last-year_62214 BorgWarner Turbo Systems Kft, the Hungarian unit of US-based global automotive industry components and parts supplier BorgWarner, is planning to increase capacity by 50% and hire 140 more workers at its turbocharger manufacturing plant in northern Hungary by 2015, the business daily Napi Gazdasag reported on Monday. http://www.bbj.hu/business/borgwarner-unit-plans-to-increase-capacity-hire-workers_62213 2012-01-09T11:20:00+01:00 http://www.bbj.hu/business/borgwarner-unit-plans-to-increase-capacity-hire-workers_62213 The Budapest Stock Exchange’s blue-chip BUX index opened Monday trade up 1.05% at 16,276.76. http://www.bbj.hu/finance/bux-opens-up-1percent_62211 2012-01-09T09:20:00+01:00 http://www.bbj.hu/finance/bux-opens-up-1percent_62211 A decision by Fitch Ratings on Friday to downgrade Hungary’s sovereign rating under investment grade was unfounded, the National Economy Ministry said. http://www.bbj.hu/economy/fitch-downgrade-unfounded-says-ministry_62210 2012-01-09T09:10:00+01:00 http://www.bbj.hu/economy/fitch-downgrade-unfounded-says-ministry_62210 Import growth picked up to exceed slower export growth in November 2011 with Hungary registering a €666m trade surplus in the month, the Central Statistics Office (KSH) said on Monday. http://www.bbj.hu/economy/hungary-export-growth-slows-import-picks-up-in-november_62209 2012-01-09T09:10:00+01:00 http://www.bbj.hu/economy/hungary-export-growth-slows-import-picks-up-in-november_62209 Concerning Hungary's economic laws, including the new central bank act, Orban said the arguments he had received were all of a political nature, and he saw no reason why parliament should amend any of them. He added, however, that the government was open to receive and consider "any opinion or idea". http://www.bbj.hu/economy/hungary-has-no-preconditions-for-imf-talks-says-pm-orban_62208 2012-01-09T06:00:00+01:00 http://www.bbj.hu/economy/hungary-has-no-preconditions-for-imf-talks-says-pm-orban_62208 The Budapest Stock Exchange’s blue-chip BUX index closed Friday trade down 0.72% as Fitch’s one-notch downgrade of Hungary’s long-term foreign- and local-currency Issuer Default Rating weighed on sentiment at the BSE. http://www.bbj.hu/finance/bux-loses-07percent-on-fitch-downgrade_62206 2012-01-06T17:25:00+01:00 http://www.bbj.hu/finance/bux-loses-07percent-on-fitch-downgrade_62206 The Hungarian government plans to extend the lease of its Gripen fighter aircraft by ten years, and the Swedish government is expected to decide on the issue in late January, Defence Minister Csaba Hende said on Friday. http://www.bbj.hu/politics/hungary-to-extend-gripen-lease-by-ten-years-says-defmin_62205 2012-01-06T17:20:00+01:00 http://www.bbj.hu/politics/hungary-to-extend-gripen-lease-by-ten-years-says-defmin_62205 A precautionary programme from the International Monetary Fund, prepared in the framework of a strict fiscal policy, could help ease existing tensions in Hungary by increasing reserves and introducing a package of stability measures, according to a report prepared for a meeting of the IMF board on January 18 obtained by business weekly Figyelo. http://www.bbj.hu/economy/draft-imf-report-says-hungary-needs-bigger-reserves-stability-package---paper_62204 2012-01-06T17:20:00+01:00 http://www.bbj.hu/economy/draft-imf-report-says-hungary-needs-bigger-reserves-stability-package---paper_62204 Bank deposits in Hungary are safe and secure, government spokesman Andras Giro-Szasz said on Friday. http://www.bbj.hu/economy/bank-deposits-safe-and-secure-says-govt-spokesman_62203 2012-01-06T17:20:00+01:00 http://www.bbj.hu/economy/bank-deposits-safe-and-secure-says-govt-spokesman_62203 Hungary’s government was surprised by a decision by Fitch Ratings on Friday to downgrade Hungary’s sovereign rating, bringing it under investor grade, government spokesman Andras Giro-Szasz said. http://www.bbj.hu/economy/fitch-downgrade-surprises-hungarys-govt_62202 2012-01-06T17:20:00+01:00 http://www.bbj.hu/economy/fitch-downgrade-surprises-hungarys-govt_62202 Fundamenta-Lakaskassza signed new home savings contracts worth HUF 307bn in January-November, 23% more than in the same period a year earlier, the home savings bank told MTI. http://www.bbj.hu/business/fundamenta-lakaskassza-new-home-savings-contracts-climb-23percent_62200 2012-01-06T15:20:00+01:00 http://www.bbj.hu/business/fundamenta-lakaskassza-new-home-savings-contracts-climb-23percent_62200 The Paks Nuclear Power Plant, Hungary’s sole source of commercial atomic energy, has passed its stress tests, National Atomic Energy Agency (OAH) deputy director Gyula Fichtinger said at a press conference on Friday. http://www.bbj.hu/life/paks-power-plant-passes-stress-tests_62199 2012-01-06T15:20:00+01:00 http://www.bbj.hu/life/paks-power-plant-passes-stress-tests_62199 The Budapest Public Transport Company (BKV) can only refinance a HUF 45bn loan repayment due in the first quarter if its operating financing is stabilised, Budapest mayor Istvan Tarlos told MTI on Friday. http://www.bbj.hu/economy/budapest-mayor-convenes-extraordinary-council-session-over-bkv_62198 2012-01-06T15:15:00+01:00 http://www.bbj.hu/economy/budapest-mayor-convenes-extraordinary-council-session-over-bkv_62198 Fitch Ratings on Friday said it downgraded long-term foreign and local currency Issuer Default Ratings (IDR) by one notch to ‘BB+’ and ‘BBB-’, from ‘BBB-’ and ‘BBB’, with a negative outlook. http://www.bbj.hu/economy/fitch-downgrades-hungary-to-junk_62197 2012-01-06T15:15:00+01:00 http://www.bbj.hu/economy/fitch-downgrades-hungary-to-junk_62197 An extraordinary general meeting of Malev shareholders was suspended on Friday before a point on the agenda concerning the troubled national airline’s capital position was reached. http://www.bbj.hu/business/malev-shareholders-fail-to-take-decision-on-capital-position_62196 2012-01-06T13:25:00+01:00 http://www.bbj.hu/business/malev-shareholders-fail-to-take-decision-on-capital-position_62196 Default insurance costs on Hungary’s sovereign debt retreated on Friday after reaching record highs in the previous days. http://www.bbj.hu/finance/hungary-default-insurance-costs-retreat-after-reaching-record-highs_62195 2012-01-06T13:25:00+01:00 http://www.bbj.hu/finance/hungary-default-insurance-costs-retreat-after-reaching-record-highs_62195 The government and the central bank must work together in the closest possible cooperation to strengthen confidence in the forint, Prime Minister Viktor Orban said after a meeting with National Bank of Hungary governor Andras Simor. http://www.bbj.hu/economy/update---pm-stresses-close-cooperation-between-govt-central-bank-to-restore-confidence-in-forint_62194 2012-01-06T13:20:00+01:00 http://www.bbj.hu/economy/update---pm-stresses-close-cooperation-between-govt-central-bank-to-restore-confidence-in-forint_62194 The government and the central bank must work together in the closest possible cooperation to strengthen confidence in the forint, Prime Minister Viktor Orban said after a meeting with National Bank of Hungary governor Andras Simor. http://www.bbj.hu/economy/pm-stresses-close-cooperation-between-govt-central-bank-to-restore-confidence-in-forint_62193 2012-01-06T11:40:00+01:00 http://www.bbj.hu/economy/pm-stresses-close-cooperation-between-govt-central-bank-to-restore-confidence-in-forint_62193 Shareholders of online retailer Bookline.hu on Thursday decided to change the name of the comapny to Shopline to better reflect its broader offering of products. http://www.bbj.hu/business/online-retailer-bookline-will-change-name-to-shopline_62192 2012-01-06T11:40:00+01:00 http://www.bbj.hu/business/online-retailer-bookline-will-change-name-to-shopline_62192 The government categorically denies any speculation that the state intends to take control of individual savings accounts, Government Spokesman Andras Giro-Szasz said on a television program on Friday. http://www.bbj.hu/economy/spokesman-rejects-speculation-govt-has-sights-on-individual-bank-accounts_62191 2012-01-06T11:35:00+01:00 http://www.bbj.hu/economy/spokesman-rejects-speculation-govt-has-sights-on-individual-bank-accounts_62191 US Ambassador to Hungary Eleni Tsakopoulos Kounalakis says Hungary’s government has failed to address Washington’s misgivings after US diplomats actively consulted with the government for months on key reforms, sharing their concerns regarding democratic checks and balances. http://www.bbj.hu/politics/hungary-govt-fails-to-address-us-concerns-ambassador-says_62189 2012-01-06T11:35:00+01:00 http://www.bbj.hu/politics/hungary-govt-fails-to-address-us-concerns-ambassador-says_62189 Industrial producer prices in Hungary rose 2.5% in November from October and were up 8.0% in twelve months, figures published by the Central Statistics Office (KSH) on Friday show. http://www.bbj.hu/economy/update---november-ppi-up-25percent-from-oct-up-8percent-yr-yr_62190 2012-01-06T11:30:00+01:00 http://www.bbj.hu/economy/update---november-ppi-up-25percent-from-oct-up-8percent-yr-yr_62190 Laszlo Nyikos, chairman of parliament’s budget committee, would like to hold a committee meeting to ask National Economy Minister Gyorgy Matolcsy about the feasibility of the 2012 central budget targets under the current circumstances, Mr Nyikos said in a statement to MTI. http://www.bbj.hu/politics/parliaments-budget-committee-head-would-like-to-hear-economy-minister_62188 2012-01-06T11:30:00+01:00 http://www.bbj.hu/politics/parliaments-budget-committee-head-would-like-to-hear-economy-minister_62188 The forint strengthened to 316.12 to the euro at 9.00.am on Friday on the interbank forex market, firming from its all-time low of 324.27 on Thursday. http://www.bbj.hu/finance/forint-strengthens-on-interbank-market_62187 2012-01-06T11:30:00+01:00 http://www.bbj.hu/finance/forint-strengthens-on-interbank-market_62187 Hungary’s industrial output rose 3.5% year-on-year in November after a 3.0% rise in October according to both unadjusted and workday-adjusted figures, the Central Statistics Office (KSH) said in a first reading on Friday. http://www.bbj.hu/economy/industrial-output-up-35percent-yr-yr-in-november_62186 2012-01-06T09:35:00+01:00 http://www.bbj.hu/economy/industrial-output-up-35percent-yr-yr-in-november_62186 Industrial producer prices in Hungary rose 2.5% in November from October and were up 8.0% in twelve months, figures published by the Central Statistics Office (KSH) on Friday show. http://www.bbj.hu/economy/november-ppi-up-25percent-from-oct-up-8percent-yr-yr_62185 2012-01-06T09:35:00+01:00 http://www.bbj.hu/economy/november-ppi-up-25percent-from-oct-up-8percent-yr-yr_62185 Hungary’s international reserves stood at €37.775bn at the end of December, up €2.004bn from a month earlier, rising to the second highest level after an all-time high of €38.76bn at the end of September 2011, preliminary data published by the National Bank of Hungary (MNB) on Friday show. http://www.bbj.hu/finance/hungary-international-reserves-rise-eur2bn-in-december_62184 2012-01-06T09:35:00+01:00 http://www.bbj.hu/finance/hungary-international-reserves-rise-eur2bn-in-december_62184 No further details have been published, but a press conference will be held after the meeting. http://www.bbj.hu/politics/pm-central-bank-governor-ministers-start-meeting_62183 2012-01-06T09:30:00+01:00 http://www.bbj.hu/politics/pm-central-bank-governor-ministers-start-meeting_62183 The Budapest Stock Exchange’s blue-chip BUX index opened Friday trade up 0.98% at 16,384.72. http://www.bbj.hu/finance/bux-opens-up-1percent_62182 2012-01-06T09:30:00+01:00 http://www.bbj.hu/finance/bux-opens-up-1percent_62182 Hungarian property developer Futureal wants to build a €120m shopping centre near Budapest’s Kelenfold railway station. http://www.bbj.hu/business/design-for-planned-eur120m-futureal-development-approved_62181 2012-01-05T17:50:00+01:00 http://www.bbj.hu/business/design-for-planned-eur120m-futureal-development-approved_62181 National Bank of Hungary (MNB) supervisory board chairman Zsigmond Jarai has not resigned from his position as chairman of the Fiscal Council, the head of the supervisory board’s secretariat Gabor Missura told MTI on Thursday. http://www.bbj.hu/politics/mnb-official-says-jarai-has-not-resigned-from-fiscal-council_62180 2012-01-05T17:45:00+01:00 http://www.bbj.hu/politics/mnb-official-says-jarai-has-not-resigned-from-fiscal-council_62180 The Budapest Stock Exchange’s BUX index closed Thursday trade down 2.11% to 16,225.09, declining with its central and eastern European blue-chip peers such as Prague’s PX-50 and Warsaw’s WIG-20, which sustained losses of a similar magnitude. http://www.bbj.hu/finance/bux-sheds-21percent-declining-with-regional-blue-chip-peers_62179 2012-01-05T17:45:00+01:00 http://www.bbj.hu/finance/bux-sheds-21percent-declining-with-regional-blue-chip-peers_62179 Hungary’s banking system is capital-strong and stable, and it has significant reserves at its disposal as a defense against unfavourable external effects, the Financial Stability Council established at a meeting on Thursday, the National Economy Ministry told MTI. http://www.bbj.hu/finance/hungary-banking-system-capital-strong-says-financial-stability-council_62178 2012-01-05T17:45:00+01:00 http://www.bbj.hu/finance/hungary-banking-system-capital-strong-says-financial-stability-council_62178 Hungary met its cash flow-based central government balance target in 2011, according to preliminary data and excluding extraordinary and one-off items, which could help the country to achieve its deficit targets in 2012 and 2013, National Economy Minister Gyorgy Matolcsy said in a letter sent to European Commission vice-president Olli Rehn. http://www.bbj.hu/economy/hungary-met-2011-central-govt-balance-target-matolcsy-tells-rehn_62177 2012-01-05T17:40:00+01:00 http://www.bbj.hu/economy/hungary-met-2011-central-govt-balance-target-matolcsy-tells-rehn_62177 National Economy Minister Gyorgy Matolcsy outlined amendments to Hungary’s new Central Bank Act in a letter to European Central Bank president Mario Draghi dated January 5. http://www.bbj.hu/politics/matolcsy-outlines-amendments-to-central-bank-act-made-on-ecb-recommendations_62176 2012-01-05T17:40:00+01:00 http://www.bbj.hu/politics/matolcsy-outlines-amendments-to-central-bank-act-made-on-ecb-recommendations_62176 Hungary’s Government Investigation Office (Kehi) has uncovered misappropriations by private pension funds that may have cost members up to several billion forints in lost yields, government commissioner for pension protection Gabriella Selmeczi said at a press conference on Thursday. http://www.bbj.hu/finance/misappropriations-uncovered-at-private-pension-funds_62175 2012-01-05T17:40:00+01:00 http://www.bbj.hu/finance/misappropriations-uncovered-at-private-pension-funds_62175 Hungary’s government expects results from talks with the International Monetary Fund on financial assistance, spokesperson for governing Fidesz Gabriella Selmeczi said on Thursday. http://www.bbj.hu/economy/govt-expects-result-from-imf-talks---fidesz-spokesperson_62174 2012-01-05T17:40:00+01:00 http://www.bbj.hu/economy/govt-expects-result-from-imf-talks---fidesz-spokesperson_62174 The number of landline connections edged down to 2,097,000 in November from 2,099,000 in October, a fresh report by Hungary’s National Media and Infocommunications Authority (NMHH) shows. http://www.bbj.hu/life/number-of-landlines-edges-down-to-2097000-in-november_62173 2012-01-05T15:30:00+01:00 http://www.bbj.hu/life/number-of-landlines-edges-down-to-2097000-in-november_62173 The number of broadband DSL, cable and optical internet subscriptions in Hungary reached 2,053,000 in November, up 13,000 from the previous month, a fresh report by Hungary’s National Media and Infocommunications Authority (NMHH) shows. http://www.bbj.hu/life/hungary-broadband-dsl-cable-and-optical-internet-subscriptions-reach-2053000-in-november_62172 2012-01-05T15:30:00+01:00 http://www.bbj.hu/life/hungary-broadband-dsl-cable-and-optical-internet-subscriptions-reach-2053000-in-november_62172 Online retail sales in Hungary climbed 17% to HUF 155bn in 2011, GKIeNET said on Thursday, citing preliminary data. http://www.bbj.hu/economy/hungary-online-retail-sales-reach-huf-155bn-in-2011_62171 2012-01-05T15:25:00+01:00 http://www.bbj.hu/economy/hungary-online-retail-sales-reach-huf-155bn-in-2011_62171 Hungary’s Public Procurement and Supply Directorate has called a tender for HUF 1.5bn of mobile telecommunication services on the European Union’s public procurement portal. http://www.bbj.hu/business/hungary-calls-public-procurement-tender-for-huf-15bn-of-mobile-services_62170 2012-01-05T15:25:00+01:00 http://www.bbj.hu/business/hungary-calls-public-procurement-tender-for-huf-15bn-of-mobile-services_62170 Fresh data published by financial market regulator PSZAF show that 94,337 borrowers availed of an early forex mortgage repayment scheme at discounted exchange rates between September 29, when the scheme was launched, and the end of December, the deadline for declaring intent to participate. http://www.bbj.hu/finance/update---over-94000-borrowers-repay-fx-mortgages-in-first-three-months-of-scheme_62169 2012-01-05T15:25:00+01:00 http://www.bbj.hu/finance/update---over-94000-borrowers-repay-fx-mortgages-in-first-three-months-of-scheme_62169 Remarks by Janos Lazar, parliamentary group leader of governing Fidesz, suggesting that there was a lack of cooperation between the government and the National Bank of Hungary are inaccurate, the central bank said when asked by MTI on Thursday. http://www.bbj.hu/economy/fidesz-mps-description-of-govt-central-bank-cooperation-inaccurate-says-mnb_62168 2012-01-05T15:25:00+01:00 http://www.bbj.hu/economy/fidesz-mps-description-of-govt-central-bank-cooperation-inaccurate-says-mnb_62168 The government is aware of the gravity of the situation and of what is stake in talks with the International Monetary Fund, minister without portfolio Tamas Fellegi, who is to head Hungary’s delegation at the talks, said on Thursday. http://www.bbj.hu/economy/update---govt-wants-to-agree-with-imf-as-quickly-as-possible-fellegi-says_62167 2012-01-05T13:20:00+01:00 http://www.bbj.hu/economy/update---govt-wants-to-agree-with-imf-as-quickly-as-possible-fellegi-says_62167 Hungarian drugmaker Egis on Thursday said the stake of its shares held by Franklin Resources, the owner of Franklin Templeton Investment Fund, fell under the 5% disclosure threshold. http://www.bbj.hu/business/franklin-resources-stake-in-egis-falls-under-disclosure-threshold_62166 2012-01-05T13:20:00+01:00 http://www.bbj.hu/business/franklin-resources-stake-in-egis-falls-under-disclosure-threshold_62166 Fresh data published by financial market regulator PSZAF show that 94,337 borrowers availed of an early forex mortgage repayment scheme at discounted exchange rates between September 29, when the scheme was launched, and the end of December, the deadline for declaring intent to participate. http://www.bbj.hu/finance/more-than-94000-borrowers-repay-fx-mortgages-in-first-three-months-of-scheme_62165 2012-01-05T13:20:00+01:00 http://www.bbj.hu/finance/more-than-94000-borrowers-repay-fx-mortgages-in-first-three-months-of-scheme_62165 Yields rose sharply and the Government Debt Management Agency (AKK) cut its offer at an auction of twelve-month discount T-bills on Thursday. http://www.bbj.hu/economy/yields-jump-at-twelve-month-t-bill-auction_62164 2012-01-05T13:20:00+01:00 http://www.bbj.hu/economy/yields-jump-at-twelve-month-t-bill-auction_62164 Savings cooperatives Monor es Videke, Del-Pest Megyei and Pecel es Videke merged and started operating as Patria Takarek from January. http://www.bbj.hu/finance/pest-county-savings-cooperatives-merge_62163 2012-01-05T12:05:00+01:00 http://www.bbj.hu/finance/pest-county-savings-cooperatives-merge_62163 The Hungarian Vehicle Importers’ Association (MGE) expects the number of new cars registered in Hungary to climb 15% to 52,000 this year, managing chairman Peter Erdelyi said at a press conference on Thursday. http://www.bbj.hu/business/hungary-new-car-sales-set-to-rise-15percent-in-2012_62162 2012-01-05T12:00:00+01:00 http://www.bbj.hu/business/hungary-new-car-sales-set-to-rise-15percent-in-2012_62162 The government is aware of the gravity of the situation and of what is stake in talks with the International Monetary Fund, minister without portfolio Tamas Fellegi, who is to head Hungary’s delegation at the talks, said on Thursday. http://www.bbj.hu/economy/govt-wants-to-agree-with-imf-as-quickly-as-possible-fellegi-says_62161 2012-01-05T11:55:00+01:00 http://www.bbj.hu/economy/govt-wants-to-agree-with-imf-as-quickly-as-possible-fellegi-says_62161 Aluminum die-casting company Csaba Metal has begun a HUF 923.21m investment to purchase new machinery and IT equipment at its plants in Bekescsaba and Szeghalom (both E Hungary), the company told MTI on Thursday. http://www.bbj.hu/business/csaba-metal-investing-huf-923m-at-plants-in-e-hungary_62160 2012-01-05T11:50:00+01:00 http://www.bbj.hu/business/csaba-metal-investing-huf-923m-at-plants-in-e-hungary_62160 The percentage of FX borrowers participating in the government’s early repayment scheme is expected to be 15-20% based on preliminary figures, Istvan Binder, spokesman for the Hungarian Financial Supervisory Authority (PSZAF), said in a television programme early on Thursday. http://www.bbj.hu/economy/pszaf-spokesman-puts-participation-in-early-repayment-at-15-20percent_62159 2012-01-05T11:50:00+01:00 http://www.bbj.hu/economy/pszaf-spokesman-puts-participation-in-early-repayment-at-15-20percent_62159 Janos Lazar, parliamentary leader of the ruling Fidesz party, told MTI in an interview published on Thursday that Hungary must accept certain conditions during upcoming talks regarding a financial-support package with the International Monetary Fund and the European Union, but that such conditions must not be contrary to the country’s interests. http://www.bbj.hu/politics/fidesz-parliamentary-leader-says-all-compromises-with-imf-must-serve-hungarys-interests_62158 2012-01-05T11:50:00+01:00 http://www.bbj.hu/politics/fidesz-parliamentary-leader-says-all-compromises-with-imf-must-serve-hungarys-interests_62158 The average unemployment rate in Hungary was 10.6% in the 15-74 age group in September-November 2011, down from 10.8% in August-October and down also from 10.7% one year earlier, the Central Statistics Office (KSH) said on Monday. http://www.bbj.hu/economy/hungary-jobless-rate-edges-down-to-106percent-in-sept-nov--_62156 2012-01-05T09:45:00+01:00 http://www.bbj.hu/economy/hungary-jobless-rate-edges-down-to-106percent-in-sept-nov--_62156 The forint traded at 323.61 to the euro on the interbank forex market on Thursday morning shortly after 9.30 a.m., a new all-time weakest for the Hungarian currency. http://www.bbj.hu/finance/forint-weakens-to-new-record-low-on-interbank-market--_62157 2012-01-05T09:45:00+01:00 http://www.bbj.hu/finance/forint-weakens-to-new-record-low-on-interbank-market--_62157 The International Monetary Fund’s executive board will review the state of Hungary’s economy at a meeting on January 18, an assessment that will likely set the stage for u%oming discussions on a new loan programme for the country, Down Jones said on Thursday. http://www.bbj.hu/economy/imf-board-to-review-hungarys-economy-on-january-18--_62155 2012-01-05T09:40:00+01:00 http://www.bbj.hu/economy/imf-board-to-review-hungarys-economy-on-january-18--_62155 The Budapest Stock Exchange’s blue-chip BUX index opened Thursday trade down 0.44% at 16,501.59. http://www.bbj.hu/finance/bux-opens-down-04percent--_62154 2012-01-05T09:40:00+01:00 http://www.bbj.hu/finance/bux-opens-down-04percent--_62154 Hungary is willing to consider a so-called standby agreement with the IMF, The Wall Street Journal reported on Wednesday based on an interview with Gyula Pleschinger, State Secretary in the Ministry of National Economy, and a member of the Hungarian delegation designated to negotiate with the IMF and the EU on a financial backstop. http://www.bbj.hu/economy/hungary-willing-to-consider-a-standby-agreement-state-secretary-says_62153 2012-01-05T06:15:00+01:00 http://www.bbj.hu/economy/hungary-willing-to-consider-a-standby-agreement-state-secretary-says_62153 Hungary would face a further steep surge in bond yields and a potentially deep recession this year if it failed to come to terms with the IMF and the EU over an external financial backstop, emerging markets economists said on Wednesday. http://www.bbj.hu/economy/hungary-would-face-yield-surge-deep-recession-without-imf-deal-says-city_62152 2012-01-05T06:00:00+01:00 http://www.bbj.hu/economy/hungary-would-face-yield-surge-deep-recession-without-imf-deal-says-city_62152