Austrian foreign minister visits Hungary amid strained relations


Austrian Foreign Minister Ursula Plassnik paid an official visit to Hungary on Thursday amid strained relations between the two countries over state-owned energy firm OMV’s attempts to take over Hungarian peer MOL and the pollution of a Hungarian river by an Austrian tannery.

Prime Minister Ferenc Gyurcsány said that resolving the issues was in the common interests of both countries and that they would be discussed in the next joint Austrian-Hungarian cabinet meeting in November. Hungary is angry at OMV, which is 31.5% owned by the Austrian state, for attempting to take over MOL and has accused the Austrian government of interfering in the case.

The Hungarian government on Monday passed a law aimed at protecting companies such as MOL from foreign takeovers. Plassnik said that politics should be kept out of the takeover move as it was an issue that the two companies should resolve. Hungary has also recently blasted the Austrian government over the pollution of the Rába river, which runs through both countries, by an Austrian tannery, saying it has made little effort to address the issue. (news.monstersandcritics)


Nagy: More Involvement in Insurance Market Banking

Nagy: More Involvement in Insurance Market

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Home Loan Rates Climb Over 10% Residential

Home Loan Rates Climb Over 10%

Countries Exchange Experiences for Better Production of Catt... Conferences

Countries Exchange Experiences for Better Production of Catt...


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.