http://bbj.hu/ Complete and independent daily business news from Hungary. en-us bbj@bbj.hu webmaster@bbj.hu PHP RSS Feed Generator Egis sees sales in Eastern Europe falling 10-15%, at a faster rate than the 5% drop projected earlier. http://bbj.hu/business/egis-ups-guidance-_63427 2012-05-16T20:10:00Z http://bbj.hu/business/egis-ups-guidance-_63427 If the banking sector is burdened to this degree for the third year in a row, it will prevent lending from picking up in Hungary, which is in neither the interest of banks nor the government, Mihály Patai said. http://bbj.hu/business/banking-association-establishes-position-on-transactions-duty-for-talks-with-govt-_63426 2012-05-16T19:45:00Z http://bbj.hu/business/banking-association-establishes-position-on-transactions-duty-for-talks-with-govt-_63426 \"We\'re interested in signing an agreement in the shortest time possible, but, realistically, we can count on early autumn,\" Varga told the paper. http://bbj.hu/economy/hungary-seeks-three-year-eur15-bln-precautionary-financing-from-imf-eu_63424 2012-05-16T19:25:00Z http://bbj.hu/economy/hungary-seeks-three-year-eur15-bln-precautionary-financing-from-imf-eu_63424 MOL said late in April that the continued financing of the pipeline was unsustainable and declined to approve the project company's budget for this year. http://bbj.hu/business/nabucco-consortium-executive-body-to-discuss-mol-stand-on-pipeline_63405 2012-05-14T12:25:00Z http://bbj.hu/business/nabucco-consortium-executive-body-to-discuss-mol-stand-on-pipeline_63405 At the same time, the bank reduced operating costs sharply. http://bbj.hu/economy/weaker-huf-eur-sales-to-mortgage-repayments-give-mnb-extra-huf-136-bln-_63404 2012-05-14T12:05:00Z http://bbj.hu/economy/weaker-huf-eur-sales-to-mortgage-repayments-give-mnb-extra-huf-136-bln-_63404 BP's SEEP would bring gas from the border between Turkey and Bulgaria through Romanian and Hungary. http://bbj.hu/business/mol-considers-joining-bp-pipeline-project-_63403 2012-05-14T11:35:00Z http://bbj.hu/business/mol-considers-joining-bp-pipeline-project-_63403 Seasonally-adjusted core inflation fell on the month and rose on the year. http://bbj.hu/economy/hungary-cpi-picks-up-to-57percent-in-april-_63397 2012-05-12T16:55:00Z http://bbj.hu/economy/hungary-cpi-picks-up-to-57percent-in-april-_63397 The projection for 2012 is down from 2.8% forecast last autumn. http://bbj.hu/economy/ec-forecast-puts-hungary-deficit-under-3percent-threshold-in-2012-2013-_63396 2012-05-12T16:45:00Z http://bbj.hu/economy/ec-forecast-puts-hungary-deficit-under-3percent-threshold-in-2012-2013-_63396 If voted in parliament, telecommunications companies should pay a HUF 2 tax per minutes of voice calls and text messages from July. http://bbj.hu/economy/government-introduces-tax-bills_63394 2012-05-12T15:10:00Z http://bbj.hu/economy/government-introduces-tax-bills_63394 The sector is probably one of the most significant contributors to GDP, but is still in the dark in terms of employment and professional quality control: facility management is desperately seeking a way to become better known and more appreciated. http://bbj.hu/business/a-sector-waiting-to-be-recognized_63347 2012-05-11T13:10:00Z http://bbj.hu/business/a-sector-waiting-to-be-recognized_63347 The predictability of the regulatory environment would be necessary to lessen the negative consequences of the crisis, the Association emphasized. http://bbj.hu/business/govt-breaks-promise-made-in-agreement-with-new-tax-banking-association-says_63389 2012-05-10T15:55:00Z http://bbj.hu/business/govt-breaks-promise-made-in-agreement-with-new-tax-banking-association-says_63389 Former head left the exchange over differences concerning the introduction of a new trading system at the bourse. http://bbj.hu/business/budapest-stock-exchange-name-new-ceo_63387 2012-05-10T15:35:00Z http://bbj.hu/business/budapest-stock-exchange-name-new-ceo_63387 The physical implementation of the tax had raised many questions among all industry players, Christopher Mattheisen, the head of Magyar Telekom said. http://bbj.hu/business/eu-conformity-of-telephone-tax-questionable-mattheisen-says-_63388 2012-05-10T12:25:00Z http://bbj.hu/business/eu-conformity-of-telephone-tax-questionable-mattheisen-says-_63388 Hungarian insurers will no longer pay the extraordinary levy on financial sector companies from next year, the National Economy Ministry said on Tuesday, confirming a measure outlined in the recently unveiled Széll Kálmán Plan 2.0, an updated structural reform program. http://bbj.hu/business/hungarian-insurers-to-pay-no-bank-levy-from-2013-ministry-confirms_63384 2012-05-10T07:25:00Z http://bbj.hu/business/hungarian-insurers-to-pay-no-bank-levy-from-2013-ministry-confirms_63384 Hungary's exports fell in March in the second yr/yr drop in a row, bringing Q1 exports down. March imports were practically unchanged in euro terms, preliminary figures published by the Central Statistics Office (KSH) on Wednesday show. http://bbj.hu/economy/hungary-exports-drop-imports-down-slightly-yr-yr-in-march_63383 2012-05-10T07:25:00Z http://bbj.hu/economy/hungary-exports-drop-imports-down-slightly-yr-yr-in-march_63383 Default insurance costs on Hungary's sovereign debt followed those of both core and periphery eurozone countries to a multi-week high on Wednesday in London, reflecting renewed market fears over Greece's future in the monetary union after the Greek elections last weekend had produced an inconclusive outcome. http://bbj.hu/economy/hungary-debt-insurance-costs-surge-on-greece-worries_63382 2012-05-10T07:25:00Z http://bbj.hu/economy/hungary-debt-insurance-costs-surge-on-greece-worries_63382 Consultations also continues on the introduction of a 30% corporate tax rate for energy companies and utilities in addition to the current two, 10% and 19%, rates. http://bbj.hu/economy/govt-approves-new-taxes-in-szell-kalman-plan-20_63381 2012-05-10T06:30:00Z http://bbj.hu/economy/govt-approves-new-taxes-in-szell-kalman-plan-20_63381 Consultations also continues on the introduction of a 30% corporate tax rate for energy companies and utilities in addition to the current two, 10% and 19%, rates. http://bbj.hu/economy/govt-approves-new-taxes-in-szell-kalman-plan-20_63380 2012-05-10T06:25:00Z http://bbj.hu/economy/govt-approves-new-taxes-in-szell-kalman-plan-20_63380 Parliament on Tuesday approved a bill that allows the national economy minister to exercise ownership rights over the Hungarian Export-Import Bank (Eximbank) and the Hungarian Export Credit Insurance Company (Mehib). http://bbj.hu/business/state-takes-over-direct-ownership-of-eximbank-mehib_63378 2012-05-09T07:45:00Z http://bbj.hu/business/state-takes-over-direct-ownership-of-eximbank-mehib_63378 A drop in industrial output in March could point to an economic contraction for the first quarter, analysts told MTI on Tuesday, after the Central Statistics Office (KSH) published fresh data. Hungary's unadjusted industrial output declined 1.6% in March from the same month a year earlier. http://bbj.hu/economy/drop-in-march-industrial-output-could-augur-gdp-fall-in-q1_63377 2012-05-09T07:40:00Z http://bbj.hu/economy/drop-in-march-industrial-output-could-augur-gdp-fall-in-q1_63377 Hungary's Competition Office (GVH) on Tuesday said it fined state-owned-railway company MÁV, regional railway company GYSEV and Rail Cargo Hungaria a combined HUF 1.25 billion for cartel activity. GVH established that the companies had colluded when setting prices. http://bbj.hu/business/competition-offices-fines-railway-companies-for-cartel-activity_63376 2012-05-09T07:40:00Z http://bbj.hu/business/competition-offices-fines-railway-companies-for-cartel-activity_63376 Hungary's government has started structural reforms in the right areas, but the pace of implementation could be speeded up, Hungarian Chamber of Commerce and Industry (MKIK) chairman László Parragh told MTI. Parragh said structural reforms often require the tools of a "front-line medic", adding that Hungary's return to the right path from longtime, deeply faulted systems would not be possible without serious conflicts. He agreed with the government on the necessity of a policy of consolidation in the second half of their term, but noted the risk that restructuring would not be of a sufficient scale. http://bbj.hu/economy/business-chamber-head-acknowledges-progress-but-says-pace-of-reform-could-be-faster_63375 2012-05-09T07:10:00Z http://bbj.hu/economy/business-chamber-head-acknowledges-progress-but-says-pace-of-reform-could-be-faster_63375 The audit and budget committee of the Hungarian parliament cleared amendments to Hungary's Central Bank Act and a related constitutional amendment for general debate at a meeting on Monday. General debate on the amendments is due on Tuesday. http://bbj.hu/economy/parliamentary-committee-clears-amendments-to-central-bank-act-for-general-debate_63373 2012-05-08T07:05:00Z http://bbj.hu/economy/parliamentary-committee-clears-amendments-to-central-bank-act-for-general-debate_63373 The Al Habtoor Group of Dubai has purchased Budapest's Hotel Le Meridien; the sale and purchase agreement was signed in Budapest on Monday. http://bbj.hu/business/dubai-investor-buys-five-star-hotel-in-budapest_63372 2012-05-08T06:40:00Z http://bbj.hu/business/dubai-investor-buys-five-star-hotel-in-budapest_63372 Mihály Varga attributes the current delay in the start of official talks on the financial assistance to the need of consultations between the IMF and the European Commission on the exact conditions for the launch of the talks. http://bbj.hu/economy/state-secretary-would-see-eur15-billion-three-year-precautionary-assistance-from-imf_63371 2012-05-08T06:35:00Z http://bbj.hu/economy/state-secretary-would-see-eur15-billion-three-year-precautionary-assistance-from-imf_63371 The per-minute telephone tax would not provide a predictable revenue source for the central budget, while it would substantially change people's phone habits, telco companies say. http://bbj.hu/business/per-minute-telephone-tax-unpredictable-revenue-source-telcos-say_63370 2012-05-08T06:10:00Z http://bbj.hu/business/per-minute-telephone-tax-unpredictable-revenue-source-telcos-say_63370 Disputed issues between Hungary and the European Union have mostly arisen from Hungary's changing not only its government but its philosophy two years ago, Prime Minister Viktor Orbán said in Kazakhstan on Friday. http://bbj.hu/economy/dispute-with-eu-rooted-in-changed-philosophy-says-orban_63369 2012-05-07T07:25:00Z http://bbj.hu/economy/dispute-with-eu-rooted-in-changed-philosophy-says-orban_63369 The system is expected to generate an additional HUF 150 billion of revenue a year, including HUF 75 billion in 2013. http://bbj.hu/business/hungary-to-introduce-e-toll-system-by-mid-2013_63368 2012-05-07T07:25:00Z http://bbj.hu/business/hungary-to-introduce-e-toll-system-by-mid-2013_63368 Hungarian oil company MOL is planning to invest a further $250 mln investment in an oil project in Kazakhstan. http://bbj.hu/business/mol-planning-a-further-usd250-mln-investment-in-kazakh-oil-project_63367 2012-05-04T07:35:00Z http://bbj.hu/business/mol-planning-a-further-usd250-mln-investment-in-kazakh-oil-project_63367 Hungary's National Tax and Customs Administration (NAV) is launching audits of taxpayers who regularly lend money to private individuals. http://bbj.hu/business/tax-office-audits-target-repeat-lenders-to-private-individuals_63366 2012-05-04T07:30:00Z http://bbj.hu/business/tax-office-audits-target-repeat-lenders-to-private-individuals_63366 Hungary had a €691.2 million trade surplus in February, practically unchanged from a €690.1 million preliminary surplus reported on April 6, the Central Statistics Office (KSH) said in a second reading on Thursday. Terms of trade worsened as export rose in volume but fell in euros while imports volume and value rose at a similar pace. http://bbj.hu/economy/hungary-trade-surplus-widens-in-february-terms-of-trade-worsen_63365 2012-05-04T07:25:00Z http://bbj.hu/economy/hungary-trade-surplus-widens-in-february-terms-of-trade-worsen_63365 CEE innovators showcase their solutions to make our lives better http://bbj.hu/business/su-global-impact-competition-comes-to-its-finals_63364 2012-05-03T15:05:00Z http://bbj.hu/business/su-global-impact-competition-comes-to-its-finals_63364 http://bbj.hu/business/zte-signs-cooperation-agreement-with-govt_63361 2012-05-03T07:10:00Z http://bbj.hu/business/zte-signs-cooperation-agreement-with-govt_63361 April did not bring big changes in the treasury share stock of BSE's four blue chips. http://bbj.hu/business/blue-chip-treasury-stock-little-changed-in-april_63363 2012-05-02T23:05:00Z http://bbj.hu/business/blue-chip-treasury-stock-little-changed-in-april_63363 When asked whether it will be possible to stop banks from passing the financial transaction tax on to consumers, Prime Minister said "it was possible in the case of the bank levy". http://bbj.hu/economy/parliament-should-approve-key-figures-of-2013-budget-tax-laws-before-summer-recess-pm-suggests-_63362 2012-05-02T23:00:00Z http://bbj.hu/economy/parliament-should-approve-key-figures-of-2013-budget-tax-laws-before-summer-recess-pm-suggests-_63362 http://bbj.hu/life/hundreds-of-thousands-came-to-see-the-jenson-button-show-in-budapest_63360 2012-05-02T22:00:00Z http://bbj.hu/life/hundreds-of-thousands-came-to-see-the-jenson-button-show-in-budapest_63360 http://bbj.hu/life/jenson-button-to-speed-through-budapest-downtown_63346 2012-04-27T15:00:00Z http://bbj.hu/life/jenson-button-to-speed-through-budapest-downtown_63346 Malév Ground Handling and maintenance unit Aeroplex of Central Europe will continue to operate at the airport. http://bbj.hu/business/budapest-airport-signs-five-year-leases-with-malev-units_63344 2012-04-27T13:40:00Z http://bbj.hu/business/budapest-airport-signs-five-year-leases-with-malev-units_63344 The 2012 budget earmarks HUF 64 billion for wage compensation in total. http://bbj.hu/economy/govt-approves-huf-299-bln-in-wage-compensation-for-public-sector-workers_63343 2012-04-27T13:35:00Z http://bbj.hu/economy/govt-approves-huf-299-bln-in-wage-compensation-for-public-sector-workers_63343 The average unemployment rate for the full year is estimated to be at 11.0%. http://bbj.hu/economy/higher-activity-rate-positive-_63342 2012-04-27T13:30:00Z http://bbj.hu/economy/higher-activity-rate-positive-_63342 Exemptions proposed by the committee included the construction of a vehicle-parts store, a pet shop, a cold-storage facility and a warehouse. http://bbj.hu/business/committee-exempts-15-projects-from-plaza-ban_63341 2012-04-27T13:30:00Z http://bbj.hu/business/committee-exempts-15-projects-from-plaza-ban_63341 The experts considered the resulting report as duly thorough and the measures proposed in the report as appropriate. http://bbj.hu/life/european-nuclear-safety-group-satisfied-with-paks-stress-test-results_63340 2012-04-27T13:25:00Z http://bbj.hu/life/european-nuclear-safety-group-satisfied-with-paks-stress-test-results_63340 Mohai is leaving his post based on mutual agreement. http://bbj.hu/finance/budapest-stock-exchange-ceo-resigns_63338 2012-04-27T13:05:00Z http://bbj.hu/finance/budapest-stock-exchange-ceo-resigns_63338 Orbán rejected the suggestion that the IMF only wanted to lend to Hungary to influence its economic policy.
 http://bbj.hu/politics/hungary-wants-fast-talks-with-imf-says-pm_63337 2012-04-27T11:00:00Z http://bbj.hu/politics/hungary-wants-fast-talks-with-imf-says-pm_63337 There were 504,100 unemployed in Hungary in the 15-74 age group on average in Q1, fresh KSH data show. http://bbj.hu/economy/hungary-jobless-rate-up-at-117percent-in-q1_63336 2012-04-27T10:55:00Z http://bbj.hu/economy/hungary-jobless-rate-up-at-117percent-in-q1_63336 A major part of the transaction tax will be paid by the banks and not by customers. http://bbj.hu/economy/transaction-tax-telecom-tax-could-cost-huf-500-550-per-month_63335 2012-04-27T10:35:00Z http://bbj.hu/economy/transaction-tax-telecom-tax-could-cost-huf-500-550-per-month_63335 "...The Fund is ready to start negotiations as soon as adequate steps are taken to ensure central bank independence as has been discussed with the Hungarian government," Ivaschenko says. http://bbj.hu/economy/imf-ready-to-start-negotiations-with-hungary-after-cen-bank-independence-steps_63334 2012-04-27T09:00:00Z http://bbj.hu/economy/imf-ready-to-start-negotiations-with-hungary-after-cen-bank-independence-steps_63334 The dividend fund comes to HUF 12.2 billion. http://bbj.hu/finance/richter-board-proposes-huf-660-per-share-dividend_63333 2012-04-27T08:55:00Z http://bbj.hu/finance/richter-board-proposes-huf-660-per-share-dividend_63333 "As nothing seemed to have happened" regarding the key issues open for debate, the EC's announcement came as a surprise, Commerzbank says. http://bbj.hu/politics/eu-go-ahead-suggests-compromise-but-talks-still-likely-to-be-lengthy_63332 2012-04-27T08:50:00Z http://bbj.hu/politics/eu-go-ahead-suggests-compromise-but-talks-still-likely-to-be-lengthy_63332 Concerns include Hungary’s exposure to the eurozone economy and eurozone banks, its high public and private indebtedness, policy unpredictability, and the scope for fiscal slippage. http://bbj.hu/economy/move-towards-eu-talks-_63331 2012-04-27T08:35:00Z http://bbj.hu/economy/move-towards-eu-talks-_63331 Hungary gets a daily penalty of €27,316. http://bbj.hu/politics/ec-fines-hungary-for-failing-to-write-eu-waste-directive-into-natl-law_63330 2012-04-27T08:30:00Z http://bbj.hu/politics/ec-fines-hungary-for-failing-to-write-eu-waste-directive-into-natl-law_63330 The resolution contains a breakdown of a combined HUF 44.6 billion in government spending freezes. http://bbj.hu/economy/govt-publishes-resolution-on-szell-kalman-plan-20-measures_63329 2012-04-27T08:30:00Z http://bbj.hu/economy/govt-publishes-resolution-on-szell-kalman-plan-20-measures_63329 Most 14-17-year-olds opened their first bank account on the advice of family members, survey reveals. http://bbj.hu/life/more-than-two-thirds-of-hungarian-17-year-olds-have-bank-account_63328 2012-04-27T08:05:00Z http://bbj.hu/life/more-than-two-thirds-of-hungarian-17-year-olds-have-bank-account_63328 Hungary's five-year credit default swaps started trade Thursday at 528bp, down a sharp 40bp from the previous close. http://bbj.hu/finance/hungary-default-insurance-costs-fall-after-imf-eu-talks-move-closer_63327 2012-04-26T19:25:00Z http://bbj.hu/finance/hungary-default-insurance-costs-fall-after-imf-eu-talks-move-closer_63327 The dividend fund comes to HUF 45 billion.
 http://bbj.hu/business/mol-shareholders-approve-proposal-to-pay-first-dividend-since-2008_63326 2012-04-26T19:05:00Z http://bbj.hu/business/mol-shareholders-approve-proposal-to-pay-first-dividend-since-2008_63326 A reduced willingness to lend still contributed to credit supply constraints, but deteriorating lending capacity raises the risk of a credit crunch, Monetary Council says. http://bbj.hu/finance/rate-setters-say-banking-system-stable-but-ability-to-support-growth-weakened_63325 2012-04-26T18:45:00Z http://bbj.hu/finance/rate-setters-say-banking-system-stable-but-ability-to-support-growth-weakened_63325 The government continues to view the package as a kind of safety net which it does not want to draw down, Antal Rogán says. http://bbj.hu/economy/fidesz-mp-expects-imf-eu-agreement-by-end-q2_63321 2012-04-26T16:30:00Z http://bbj.hu/economy/fidesz-mp-expects-imf-eu-agreement-by-end-q2_63321 The negotiations that will provide the framework for the actual economic negotiations, Tamás Fellegi says. http://bbj.hu/economy/talks-on-timetable-for-imf-eu-negotiations-could-start-in-may_63320 2012-04-26T16:00:00Z http://bbj.hu/economy/talks-on-timetable-for-imf-eu-negotiations-could-start-in-may_63320 Borrowers who took out loans up to HUF 20 million may participate in the scheme. http://bbj.hu/economy/significant-part-of-eligible-borrowers-expected-to-participate-in-exchange-rate-limit-scheme_63319 2012-04-26T15:55:00Z http://bbj.hu/economy/significant-part-of-eligible-borrowers-expected-to-participate-in-exchange-rate-limit-scheme_63319 "Budapest may also have been spooked" by the sell-off in the markets at the beginning of the week, analysts say. http://bbj.hu/politics/eu-green-light-_63318 2012-04-26T15:35:00Z http://bbj.hu/politics/eu-green-light-_63318 The Hungarian government, the National Bank of Hungary, the IMF, EC and European Central Bank will participate at the talks. http://bbj.hu/economy/hungary-to-negotiate-for-precautionary-financial-package-from-imf-eu_63314 2012-04-25T22:00:00Z http://bbj.hu/economy/hungary-to-negotiate-for-precautionary-financial-package-from-imf-eu_63314 The disapproval of the budget meant in practice that MOL would not give any more money to the project company, industry experts say. http://bbj.hu/business/mol-says-continued-financing-of-nabucco-pipeline-unsustainable_63313 2012-04-25T21:55:00Z http://bbj.hu/business/mol-says-continued-financing-of-nabucco-pipeline-unsustainable_63313 The central bank will also participate at the IMF-EU talks on precautionary financial assistance. http://bbj.hu/finance/mnb-acknowledges-govt-steps-to-ensure-central-bank-independence_63312 2012-04-25T21:50:00Z http://bbj.hu/finance/mnb-acknowledges-govt-steps-to-ensure-central-bank-independence_63312 Talks could start after the Central Bank Act is amended as agreed on with the European Union. http://bbj.hu/economy/hungary-talks-with-imf-eu-could-start-_63311 2012-04-25T21:40:00Z http://bbj.hu/economy/hungary-talks-with-imf-eu-could-start-_63311 The expansion came as a result of a more than 6% rise in exports. http://bbj.hu/economy/hungary-food-industry-expands-for-first-time-in-years_63310 2012-04-25T21:35:00Z http://bbj.hu/economy/hungary-food-industry-expands-for-first-time-in-years_63310 MNV will auction 112 objects with an estimated value of HUF 12 million. http://bbj.hu/business/state-to-start-auctioning-heirless-objects_63308 2012-04-25T13:30:00Z http://bbj.hu/business/state-to-start-auctioning-heirless-objects_63308 FHB had a loss of HUF 1.85 billion last year. http://bbj.hu/finance/fhb-mortgage-bank-to-pay-no-dividend-on-loss-making-2011_63307 2012-04-25T13:15:00Z http://bbj.hu/finance/fhb-mortgage-bank-to-pay-no-dividend-on-loss-making-2011_63307 Hungary's five-year credit default swaps (CDS) traded around 559bp on Wednesday, falling from 570.3bp late Tuesday. http://bbj.hu/finance/hungary-default-insurance-costs-fall-on-improved-outlook-for-imf-eu-talks_63306 2012-04-25T13:10:00Z http://bbj.hu/finance/hungary-default-insurance-costs-fall-on-improved-outlook-for-imf-eu-talks_63306 The dividend fund comes to HUF 1.125 billion, almost 99% of the bourse's after-tax profit. http://bbj.hu/finance/bourse-shareholders-approve-huf-205-per-share-dividend_63305 2012-04-25T13:10:00Z http://bbj.hu/finance/bourse-shareholders-approve-huf-205-per-share-dividend_63305 EU regulation states that the maximum allowed GMO-level in soy and maize products is at 0.9%. http://bbj.hu/economy/hungarian-food-authority-inspection-finds-no-unauthorized-gmo_63304 2012-04-25T13:00:00Z http://bbj.hu/economy/hungarian-food-authority-inspection-finds-no-unauthorized-gmo_63304 House prices went down 18.7% in Q1. http://bbj.hu/business/used-homes-overpriced-by-13percent_63303 2012-04-25T12:55:00Z http://bbj.hu/business/used-homes-overpriced-by-13percent_63303 "The Commission has today assessed that Hungary has taken sufficient action and commitments to enter into negotiations on precautionary balance of payment assistance," the body says. http://bbj.hu/economy/ec-decides-to-start-talks-with-hungary-on-precautionary-financial-assistance_63302 2012-04-25T12:50:00Z http://bbj.hu/economy/ec-decides-to-start-talks-with-hungary-on-precautionary-financial-assistance_63302 The new taxes might increase the telephone and text-message fees by double-digit percentage points. http://bbj.hu/business/telenor-in-talks-with-govt-on-proposed-telephone-call-text-message-tax_63301 2012-04-25T12:35:00Z http://bbj.hu/business/telenor-in-talks-with-govt-on-proposed-telephone-call-text-message-tax_63301 Applications worth HUF 550 million were approved to support 886 projects to build solar panels. http://bbj.hu/life/few-apply-for-solar-panel-subsidy_63300 2012-04-25T11:50:00Z http://bbj.hu/life/few-apply-for-solar-panel-subsidy_63300 Companies not submitting a report can be fined as much as HUF 1.5 million. http://bbj.hu/business/tax-office-initiates-removal-of-businesses-from-company-register-for-failure-to-report_63299 2012-04-25T11:15:00Z http://bbj.hu/business/tax-office-initiates-removal-of-businesses-from-company-register-for-failure-to-report_63299 Reuters leaked a document saying that "Hungary has now promised to change its legislation and provided additional commitments and clarifications". http://bbj.hu/politics/eu-will-not-take-hungary-to-court-over-central-bank-act_63297 2012-04-25T10:45:00Z http://bbj.hu/politics/eu-will-not-take-hungary-to-court-over-central-bank-act_63297 Domestic consumption of milk in Hungary is an annual 140 liters per person. http://bbj.hu/economy/hungary-dairy-industry-grows-to-huf-200-bln_63296 2012-04-25T10:30:00Z http://bbj.hu/economy/hungary-dairy-industry-grows-to-huf-200-bln_63296 The operations will have no material impact on Hungary's external vulnerability, MNB says. http://bbj.hu/finance/mnb-starts-euro-sales-to-support-conversion-of-delinquent-fx-loans_63295 2012-04-25T10:10:00Z http://bbj.hu/finance/mnb-starts-euro-sales-to-support-conversion-of-delinquent-fx-loans_63295 Árkád 2 will be Hungary's biggest shopping center. http://bbj.hu/business/ece-launches-eur80-mln-expansion-renovation-of-arkad-shopping-center_63294 2012-04-25T10:05:00Z http://bbj.hu/business/ece-launches-eur80-mln-expansion-renovation-of-arkad-shopping-center_63294 The bank's experts had had little time to digest the Széll Kálmán Plan 2.0, Simor said. http://bbj.hu/economy/hungary-rate-setters-keep-key-rate-on-hold-for-fourth-month-in-a-row_63293 2012-04-24T22:50:00Z http://bbj.hu/economy/hungary-rate-setters-keep-key-rate-on-hold-for-fourth-month-in-a-row_63293 "We have come very close to essentially making a breakthrough. It is a matter of days or weeks at the latest," says Orbán. http://bbj.hu/politics/obstacles-to-imf-eu-talks-essentially-removed_63292 2012-04-24T20:25:00Z http://bbj.hu/politics/obstacles-to-imf-eu-talks-essentially-removed_63292 Experts still expect a wheat output of 3.5-4 million tons. http://bbj.hu/economy/dry-weather-means-average-grain-harvest-at-best_63291 2012-04-24T20:20:00Z http://bbj.hu/economy/dry-weather-means-average-grain-harvest-at-best_63291 European Commission claims that the proposed labels could be confusing for consumers. http://bbj.hu/politics/ec-criticizes-proposed-labels-marking-hungarian-products_63290 2012-04-24T20:15:00Z http://bbj.hu/politics/ec-criticizes-proposed-labels-marking-hungarian-products_63290 http://bbj.hu/business/hungarys-new-constitution---the-beginning-of-a-new-regime-or-merely-technical-amendments_63288 2012-04-24T16:05:00Z http://bbj.hu/business/hungarys-new-constitution---the-beginning-of-a-new-regime-or-merely-technical-amendments_63288 The fresh data do not signal a turnaround, analysts said.  http://bbj.hu/economy/retail-sales-drop-more-than-expected-in-feb_63284 2012-04-24T13:25:00Z http://bbj.hu/economy/retail-sales-drop-more-than-expected-in-feb_63284 The unit's greater-than-expected growth made the capital raise necessary. http://bbj.hu/finance/cig-pannonia-to-raise-capital-at-non-life-insurance-unit_63283 2012-04-24T13:05:00Z http://bbj.hu/finance/cig-pannonia-to-raise-capital-at-non-life-insurance-unit_63283 The Hungarian companies have contacted potential partners on 130 occasions at the Montenegrin exhibition. http://bbj.hu/business/hita-steers-10-businesses-towards-eur605000-worth-of-business-at-exhibition_63282 2012-04-24T13:00:00Z http://bbj.hu/business/hita-steers-10-businesses-towards-eur605000-worth-of-business-at-exhibition_63282 The central government already had acquired the ownership rights of seven municipality-owned hospitals in January 2012. http://bbj.hu/economy/central-government-to-acquire-assets-and-debt-of-70-hospitals_63281 2012-04-24T12:45:00Z http://bbj.hu/economy/central-government-to-acquire-assets-and-debt-of-70-hospitals_63281 Except for two occasions with limited demand, the weekly tenders have attracted no bids since the end of January. http://bbj.hu/finance/mnb-three-month-fx-swap-tender-continued-without-bids_63280 2012-04-24T11:55:00Z http://bbj.hu/finance/mnb-three-month-fx-swap-tender-continued-without-bids_63280 Their 2011 revenue exceeded the targets and reached up to €42. http://bbj.hu/business/nolato-hungary-revenue-up-27percent-yr-yr-in-2011_63279 2012-04-24T11:50:00Z http://bbj.hu/business/nolato-hungary-revenue-up-27percent-yr-yr-in-2011_63279 The Nabucco pipeline project is proceeding successfully, and the final legal framework has been set up, says MOL director. http://bbj.hu/business/nabucco-international-does-not-know-of-any-mol-intention-to-withdraw_63278 2012-04-24T11:35:00Z http://bbj.hu/business/nabucco-international-does-not-know-of-any-mol-intention-to-withdraw_63278 The complaint was filed against all fx-lender banks in Hungary, Magyar Nemzet writes. http://bbj.hu/finance/prosecutor-investigates-banks-that-provided-fx-loans-on-complaint-of-tax-fraud_63277 2012-04-24T11:30:00Z http://bbj.hu/finance/prosecutor-investigates-banks-that-provided-fx-loans-on-complaint-of-tax-fraud_63277 The management of the Hungarian Banking Association is asking all of its members to accelerate the processing of applications to participate in an exchange rate limit scheme. http://bbj.hu/business/banks-asked-to-accelerate-processing-of-exchange-rate-limit-scheme-applications_63273 2012-04-24T07:25:00Z http://bbj.hu/business/banks-asked-to-accelerate-processing-of-exchange-rate-limit-scheme-applications_63273 The Széll Kálmán Plan 2.0 is likely to prove sufficient to lift Hungary from the Excessive Deficit Procedure and to unfreeze part of next year's cohesion funds, City analysts say. http://bbj.hu/economy/new-convergence-plan-likely-sufficient-to-unfreeze-cohesion-funds-says-city_63272 2012-04-24T07:20:00Z http://bbj.hu/economy/new-convergence-plan-likely-sufficient-to-unfreeze-cohesion-funds-says-city_63272 Hungary wants a financial safety net, but the International Monetary Fund wants to offer the country a loan, Prime Minister Viktor Orbán said at a lecture at the European Policy Centre in Brussels on Monday. http://bbj.hu/economy/hungary-seeks-financial-safety-net-but-imf-offers-loan-says-pm_63271 2012-04-24T07:20:00Z http://bbj.hu/economy/hungary-seeks-financial-safety-net-but-imf-offers-loan-says-pm_63271 In March alone, the general government had a deficit of HUF 230.9 billion. The annual deficit target is HUF 576.2 billion. http://bbj.hu/economy/ministry-confirms-hungary-q1-fiscal-deficit-at-almost-90percent-of-full-year-target_63269 2012-04-23T15:45:00Z http://bbj.hu/economy/ministry-confirms-hungary-q1-fiscal-deficit-at-almost-90percent-of-full-year-target_63269 Measures contained in the plan will improve the fiscal balance by HUF 750 billion in 2012-2013, the government says. http://bbj.hu/economy/govt-unveils-szell-kalman-plan-20_63268 2012-04-23T15:40:00Z http://bbj.hu/economy/govt-unveils-szell-kalman-plan-20_63268 Liget Bioenergia Művek opened its plant in 2009, but the economic crisis as well as the regulatory changes made the plant unviable and it shut down in 2011. http://bbj.hu/business/biomass-fueled-power-plant-owner-files-for-bankruptcy-protection_63266 2012-04-23T15:00:00Z http://bbj.hu/business/biomass-fueled-power-plant-owner-files-for-bankruptcy-protection_63266 Until a safety net materializes in the form of a stand-by arrangement, City analysts do not see a case for rate cuts. http://bbj.hu/economy/mnb-on-hold-now-eyes-imf-eu-deal-for-future-rates-guidance-says-city_63264 2012-04-23T14:10:00Z http://bbj.hu/economy/mnb-on-hold-now-eyes-imf-eu-deal-for-future-rates-guidance-says-city_63264 Amendments to the Central Bank Act submitted by the government clear up questions on which agreements have already been reached, but contested matters remain, National Bank of Hungary governor András Simor told Parliament's Economy and IT Committee on Monday. http://bbj.hu/economy/simor-tells-mps-issues-with-central-bank-legislation-remain_63263 2012-04-23T13:40:00Z http://bbj.hu/economy/simor-tells-mps-issues-with-central-bank-legislation-remain_63263 http://bbj.hu/business/mol-to-lower-price-of-petrol-from-wednesday_63262 2012-04-23T13:35:00Z http://bbj.hu/business/mol-to-lower-price-of-petrol-from-wednesday_63262 Serial production is scheduled to start early next year. http://bbj.hu/business/audi-to-start-test-production-of-a3-in-gyor-this-summer_63261 2012-04-23T13:35:00Z http://bbj.hu/business/audi-to-start-test-production-of-a3-in-gyor-this-summer_63261 The value of the project contract is HUF 5.1 billion, 85% of which is financed by the European Union. http://bbj.hu/business/contract-signed-for-eu-funded-railway-section-modernization-in-w-hungary_63260 2012-04-23T11:45:00Z http://bbj.hu/business/contract-signed-for-eu-funded-railway-section-modernization-in-w-hungary_63260 Hungary's government has already amended provisions in the Central Bank Law to which the European Central Bank objected, and parliament can make further changes later if required, Mihály Varga, head of the prime minister's office, said. http://bbj.hu/politics/hungary-can-change-contested-law-even-after-imf-talks-start_63259 2012-04-23T11:40:00Z http://bbj.hu/politics/hungary-can-change-contested-law-even-after-imf-talks-start_63259 The business condfidence index worsened in April after two months of improvement, while the consumer confidence slightly improved. http://bbj.hu/economy/gki-erste-confidence-index-edges-down-in-april_63258 2012-04-23T07:30:00Z http://bbj.hu/economy/gki-erste-confidence-index-edges-down-in-april_63258 Fidesz party MP Zsolt Nyitrai is "positively sure there will be no such thing as an internet tax". http://bbj.hu/economy/there-will-be-no-internet-tax-ruling-party-representative-says_63256 2012-04-23T07:20:00Z http://bbj.hu/economy/there-will-be-no-internet-tax-ruling-party-representative-says_63256 The latest in Broadband TV News series of business breakfasts, organized jointly with Telenor Satellite Broadcasting and held in Budapest on April 19, left many questions about the Hungarian digital TV still unanswered. http://bbj.hu/business/digital-tv-in-hungary-many-questions-unanswered_63316 2012-04-22T22:10:00Z http://bbj.hu/business/digital-tv-in-hungary-many-questions-unanswered_63316 The latest in Broadband TV News series of business breakfasts, organized jointly with Telenor Satellite Broadcasting and held in Budapest on April 19, left many questions about the Hungarian digital TV still unanswered. http://bbj.hu/business/digital-tv-in-hungary-many-questions-unanswered_63315 2012-04-22T22:10:00Z http://bbj.hu/business/digital-tv-in-hungary-many-questions-unanswered_63315 The Hungarian Cricket Association, set up in 2007, is aiming to introduce the sport to the Roma community through a new initiative. The association believes that playing cricket might be a way to bring Hungarians and the Roma closer to each other. http://bbj.hu/life/cricket-a-chance-for-hungarys-roma-to-shine_63060 2012-04-21T20:05:00Z http://bbj.hu/life/cricket-a-chance-for-hungarys-roma-to-shine_63060 The National Economy Ministry is proposing to the government a tax on landline and mobile telephone and internet usage that could raise HUF 40 billion-50 billion, internet portal Origo said on Friday, citing sources at the ministry. http://bbj.hu/economy/govt-mulls-tax-on-telephone-internet-usage-_63253 2012-04-21T20:00:00Z http://bbj.hu/economy/govt-mulls-tax-on-telephone-internet-usage-_63253 Hungary needs a safety net rather than a loan to ensure protection if the economic situation in Europe worsens, Prime Minister Viktor Orbán says. http://bbj.hu/economy/hungary-needs-safety-net-rather-than-loans-says-orban-_63252 2012-04-21T19:55:00Z http://bbj.hu/economy/hungary-needs-safety-net-rather-than-loans-says-orban-_63252 Default insurance costs on Hungary's sovereign debt flirted with the 600bps threshold on Friday, the highest level since late January, driven up by renewed market fears over the prospects of a new IMF/EU financing deal. http://bbj.hu/economy/hungary-debt-insurance-costs-surge-to-multi-month-high-on-imf-talks-worries-_63251 2012-04-21T19:50:00Z http://bbj.hu/economy/hungary-debt-insurance-costs-surge-to-multi-month-high-on-imf-talks-worries-_63251 Market penetration fell slightly in February, to 116.8 SIM cards per hundred people, National Media and Infocommunications Authority says. http://bbj.hu/business/hungary-mobile-phone-subscriptions-fall-to-11634000-in-march_63249 2012-04-20T16:55:00Z http://bbj.hu/business/hungary-mobile-phone-subscriptions-fall-to-11634000-in-march_63249 The European Commission's analysis of Hungary's official responses to letters concerning infringement procedures is "proceeding swiftly", Commission spokesman Alejandro Ulzurrun de Asanza y Munoz said at a regular press briefing in Brussels on Friday. http://bbj.hu/economy/commission-work-on-hungary-infringement-procedures-_63248 2012-04-20T16:35:00Z http://bbj.hu/economy/commission-work-on-hungary-infringement-procedures-_63248 Hungary's market leader in developing mobile payment technology has established a joint venture with Bulgaria's Corpbank. http://bbj.hu/business/cellum-establishes-jv-in-bulgaria_63247 2012-04-20T16:20:00Z http://bbj.hu/business/cellum-establishes-jv-in-bulgaria_63247 János Főnagy will be appointed for a year from May 1, the Government Spokesman's Office said. http://bbj.hu/business/government-to-appoint-commissioner-to-oversee-public-transport-restructuring_63246 2012-04-20T16:20:00Z http://bbj.hu/business/government-to-appoint-commissioner-to-oversee-public-transport-restructuring_63246 Ferenc Szarvas is leaving his post within 30 days. http://bbj.hu/business/mav-ceo-to-leave-post-by-mutual-consent_63245 2012-04-20T16:00:00Z http://bbj.hu/business/mav-ceo-to-leave-post-by-mutual-consent_63245 There is no chance Hungary will have to repay European Union funding in cases involving the country's application of EU support for VAT, the National Economy Ministry said on Friday. http://bbj.hu/economy/hungary-eu-vat-cases-pose-no-risk-of-funding-recovery_63244 2012-04-20T14:10:00Z http://bbj.hu/economy/hungary-eu-vat-cases-pose-no-risk-of-funding-recovery_63244 The bank advised clients who had revealed information to perpetrators to contact the bank's customer service immediately. http://bbj.hu/finance/otp-bank-warns-clients-of-phishing-attempts-_63243 2012-04-20T14:10:00Z http://bbj.hu/finance/otp-bank-warns-clients-of-phishing-attempts-_63243 The proposed tax could raise HUF 40 billion-50 billion, says internet portal Origo. http://bbj.hu/economy/gov`t-mulls-tax-on-telephone-internet-usage_63242 2012-04-20T13:55:00Z http://bbj.hu/economy/gov`t-mulls-tax-on-telephone-internet-usage_63242 MPVI Mobil will offer data and voice services, and is expected to start operation by the end of the year. http://bbj.hu/business/new-player-on-hungary-mobile-market-aims-to-be-competitive-profitable_63241 2012-04-20T13:50:00Z http://bbj.hu/business/new-player-on-hungary-mobile-market-aims-to-be-competitive-profitable_63241 "....We will not agree to losing a single forint, we will get every forint we are entitled to," Orbán said. http://bbj.hu/economy/hungary-needs-safety-net-rather-than-loans-says-orban_63240 2012-04-20T13:45:00Z http://bbj.hu/economy/hungary-needs-safety-net-rather-than-loans-says-orban_63240 The aim of the network is to help them win big state tenders, says Magyar Nemzet. http://bbj.hu/business/hungarian-defense-industry-companies-establish-network_63239 2012-04-20T09:55:00Z http://bbj.hu/business/hungarian-defense-industry-companies-establish-network_63239 The approved proposals are to pay altogether a HUF 3,100-per-share dividend on the two companys' 2011 profit. http://bbj.hu/business/shareholders-approve-emasz-elmu-dividend-proposals_63238 2012-04-20T09:50:00Z http://bbj.hu/business/shareholders-approve-emasz-elmu-dividend-proposals_63238 All Reuters analysts said the MNB would keep the base rate on hold at 7% for the fourth month in a row. http://bbj.hu/economy/mnb-expected-to-keep-rates-on-hold-at-tues-meeting_63237 2012-04-20T09:40:00Z http://bbj.hu/economy/mnb-expected-to-keep-rates-on-hold-at-tues-meeting_63237 The Hungarian government is still waiting for the European Commission's responses to its stands on the questions of the remuneration of the National Bank of Hungary's governors and deputy-governors and the oaths they swear, government spokesman András Giró-Szász said on public television early Thursday. http://bbj.hu/economy/hungary-still-waiting-for-ecs-response-on-central-bank-management-remuneration-oaths_63236 2012-04-20T08:35:00Z http://bbj.hu/economy/hungary-still-waiting-for-ecs-response-on-central-bank-management-remuneration-oaths_63236 The number of employees in Hungary's business sector, which includes private as well as state-owned companies, fell 1.5% year-on-year in February, dropping for the third month in a row, data published by the Central Statistics Office (KSH) on Thursday show. http://bbj.hu/economy/business-sector-employment-drops-15percent-yr-yr-in-february_63235 2012-04-20T08:30:00Z http://bbj.hu/economy/business-sector-employment-drops-15percent-yr-yr-in-february_63235 Gross wages rose faster than expected in February, but the increase does not augur inflationary pressure, analysts say. http://bbj.hu/economy/in-spite-of-higher-wage-rise-inflationary-pressure-absent_63234 2012-04-20T08:30:00Z http://bbj.hu/economy/in-spite-of-higher-wage-rise-inflationary-pressure-absent_63234 The new plant will employ 120, production starts in 2014. The drugmaker spent HUF 214 billion on investments in the past few years. http://bbj.hu/business/richter-inaugurates-huf-25-bln-biotech-plant-in-debrecen_63233 2012-04-20T08:25:00Z http://bbj.hu/business/richter-inaugurates-huf-25-bln-biotech-plant-in-debrecen_63233 Hungary's biggest hypermarket chain opened seven new stores in Hungary last year, expanding its total retail space in the country by about 11,000sqm. http://bbj.hu/business/tesco-hungary-revenue-climbs-almost-6percent-to-huf-705-bln-in-2011-12_63230 2012-04-18T11:55:00Z http://bbj.hu/business/tesco-hungary-revenue-climbs-almost-6percent-to-huf-705-bln-in-2011-12_63230 Waberer's management will decide later this year whether to expand the company's fleet by a further 100 vehicles. http://bbj.hu/business/waberers-to-replace-600-vehicles-this-year_63229 2012-04-18T11:50:00Z http://bbj.hu/business/waberers-to-replace-600-vehicles-this-year_63229 Hungary has moved no closer to the start of official negotiations since January, head of the prime minister's office says. http://bbj.hu/economy/hungary-waiting-in-the-wings-on-imf-deal-says-varga_63228 2012-04-18T11:40:00Z http://bbj.hu/economy/hungary-waiting-in-the-wings-on-imf-deal-says-varga_63228 As much as 40-50% of some types of Hungarian fruit may have been destroyed by spring frost. http://bbj.hu/business/spring-frost-damages-hungary-fruit-crop_63227 2012-04-18T11:40:00Z http://bbj.hu/business/spring-frost-damages-hungary-fruit-crop_63227 The appeal is against EC decision prohibiting Hungary from using European Union funding to cover VAT costs in a motorway construction project. http://bbj.hu/business/european-court-to-discuss-hungary-motorway-vat-appeal_63226 2012-04-18T11:35:00Z http://bbj.hu/business/european-court-to-discuss-hungary-motorway-vat-appeal_63226 Viktor Orbán and Alexy Miller reviewed questions concerning cooperation between Russia and Hungary in the energy sector. http://bbj.hu/business/pm-meets-with-gazprom-ceo-in-budapest_63225 2012-04-18T11:35:00Z http://bbj.hu/business/pm-meets-with-gazprom-ceo-in-budapest_63225 The raise will bring registered capital to HUF 2.29 billion. http://bbj.hu/business/phylaxia-1912-holding-board-decides-on-huf-850-mln-capital-raise_63220 2012-04-17T14:40:00Z http://bbj.hu/business/phylaxia-1912-holding-board-decides-on-huf-850-mln-capital-raise_63220 The AGM approved the company's profit and loss statement for 2011 showing a loss of HUF 9.3 billion. http://bbj.hu/business/tvk-shareholders-approve-proposal-to-pay-no-dividend-on-loss-making-year_63219 2012-04-17T14:35:00Z http://bbj.hu/business/tvk-shareholders-approve-proposal-to-pay-no-dividend-on-loss-making-year_63219 The building material company managed to achieve higher sales figures in a sector with a HUF 400 billion  in "chain debt". http://bbj.hu/business/mapei-hungary-sales-climb-9percent-in-2011_63218 2012-04-17T14:25:00Z http://bbj.hu/business/mapei-hungary-sales-climb-9percent-in-2011_63218 The cabinet rejects any preconditions to negotiations that do not have anything to do with economic policy, says Hungary's chief negotiator. http://bbj.hu/economy/start-of-imf-talks-remains-top-priority-for-govt_63217 2012-04-17T14:15:00Z http://bbj.hu/economy/start-of-imf-talks-remains-top-priority-for-govt_63217 http://bbj.hu/business/infant-venture-capital-interview-with-peter-oszko-chairman-ceo-of-portfolion-venture-capital_63212 2012-04-17T11:40:00Z http://bbj.hu/business/infant-venture-capital-interview-with-peter-oszko-chairman-ceo-of-portfolion-venture-capital_63212 http://bbj.hu/politics/prime-minister-nominates-janos-ader-for-president_63211 2012-04-17T11:30:00Z http://bbj.hu/politics/prime-minister-nominates-janos-ader-for-president_63211 The 25% stake in the waterworks held by Suez and Germany's RWE is to be repurchased for HUF 15.1 billion. http://bbj.hu/business/budapest-mayor-suez-ceo-agree-on-repurchase-of-stake-in-waterworks_63210 2012-04-17T11:25:00Z http://bbj.hu/business/budapest-mayor-suez-ceo-agree-on-repurchase-of-stake-in-waterworks_63210 The system will help drivers change lanes, see in their blind spot, read signs and even glance at back-seat passengers with the least eye and head movement. http://bbj.hu/business/smr-hungary-unit-develops-rearview-camera-systems_63209 2012-04-17T11:15:00Z http://bbj.hu/business/smr-hungary-unit-develops-rearview-camera-systems_63209 The talks in Frankfurt were expected to produce a solution on disputed points of the law. http://bbj.hu/economy/talks-on-hungary-central-bank-act-held-at-ecb-headquarters_63208 2012-04-17T11:10:00Z http://bbj.hu/economy/talks-on-hungary-central-bank-act-held-at-ecb-headquarters_63208