11 May 2012
A new tax on everyday financial transactions is the key item in a fresh package of austerity measures approved by the cabinet on Wednesday. There will also be a two-forint-a-minute levy on telephone calls and a unified tax on insurance companies, as outlined last month in an updated version of the government’s blueprint for economic…
Posted in Articles, Politics0 Comments
16 May 2012
The private pension fund system is both extremely expensive and unnecessary, its superfluous operating costs and missed profits causing HUF 850 billion (EUR 2.96 billion) in losses, the prime minister’s pension protection commissioner, Gabriella Selmeczi, claimed before submitting her report on the system to Prime Minister Viktor Orbán. Selmeczi told a press conference this week…
Posted in Articles, Politics0 Comments
16 May 2012
“I should like to make clear once more that I will only act in accordance with the basic law,” newly appointed President of the Republic János Áder said in an interview published by state news agency MTI on Monday. “This means that if I receive one hundred impeccable laws from Parliament, I will sign all…
Posted in News, Roundup0 Comments
16 May 2012
PM Viktor Orbán said his visit to Kazakhstan had been the latest success story in Hungary’s opening to the east, after the two-day political and business trip ended last Friday. The heads of state of the two countries signed a long-term strategic agreement. “This is a great success,” Orbán told state news agency MTI aboard…
Posted in Politics, Region0 Comments
16 May 2012
MKB Bank, the Hungarian subsidiary of Bayerische Landesbank, can again be profitable from 2013-14, CEO Pál Simák has told state news agency MTI. Simák said that this year the financial result will be hurt by one-offs such as the bank tax and the losses of its Romanian affiliate. “Our repositioning strategy will be ready by…
Posted in Articles, Business0 Comments
16 May 2012
The State Competition Authority was fined HUF 1.25 billion (EUR 4.33 million) on Tuesday for cartel activity among the cargo segments of three Hungarian railway companies. According to the ruling, GYSEV (fined HUF 300 million or EUR 1.04 million), MÁV (HUF 100 million or EUR 346,400) and RCH (HUF 850 million or EUR 2.94 million)…
Posted in Articles, Business0 Comments
16 May 2012
The National Association of Employers and Entrepreneurs (VOSZ) launched a purchasing association on Monday to enhance the competitiveness of small and medium enterprises. Founding members of the new VOSZ-BESZ include electricity company MVM Partner, Vodafone and Shell. “We estimate that some 60,000 companies will join the association before the end of 2013 and these firms…
Posted in Articles, Business0 Comments
16 May 2012
The Hungarian affiliate of German automobile component supplier Bosch will move one of its plants from Hatvan to Cluj, Romania, but this will not reduce staff in the Hungarian facility, business daily Napi Gazdaság said on Wednesday. Bosch communications director Ferenc Ficzere said moving the manufacturing of control panels to Cluj will increase capacity to…
Posted in Articles, Business0 Comments
15 May 2012
Prime Minister Viktor Orbán (right) expressed Hungary’s continued support to Croatia during an official visit by his Croatian counterpart Zoran Milanovic (left) on Monday. Hungary has always considered it a moral obligation to support Croatia’s military or economic efforts and its accession to the EU, Orbán said. Energy on the agenda Bilateral relations in all…
Posted in Articles, Politics0 Comments
15 May 2012
An industrial waste storage complex on the bank of the Danube in northern Hungary is a disaster waiting to happen, Greenpeace warned on Tuesday. The environmental pressure group said a report issued last month by the Hungarian Academy of Sciences (MTA) confirmed “point by point” its concerns about the “red sludge” reservoirs at Almásfüzítõ, which…
Posted in Articles, Politics0 Comments
15 May 2012
Budapest’s amusement park, Vidám Park, will stay open until 1.30am on Fridays and Saturdays from June. The park, whose history spans over 170 years, boasts Europe’s oldest horse carousel and its longest wooden rollercoaster. This year guests can also try out the gauswheel, a two-wheeled Hungarian invention that is something of a cross between a…
Posted in News, Roundup0 Comments
 Budapest hotels online reservation, Hungary |
