The government’s New Ownership
Programme, an offer of shares in state-owned companies to small
investors, will not add to budget spending next year, Finance
Minister Janos Veres said. The new scheme could even bring up to 500 million forints on the
revenue side. Continue »

Budapest, May 30 (MTI) – Hungary’s central bank (NBH) and the
finance ministry said in a statement on Friday that they would stick
to their joint mid-term 3 percent inflation target.  Continue »

Budapest, May 30 (MTI) – Budapest and Poland’s Wroclaw are the
only competitors in the race for a planned European innovation and
technology institute, and Budapest has a strong chance of winning
the 308-million-euro project, Nepszabadsag daily reported on Friday. Continue »

Budapest, May 30 (MTI) – Following recent changes to the
government’s structure many officials working in ministries will
relocate next week to cut costs, daily Nepszabadsag reported on
Friday.  Continue »

Budapest, May 30 (MTI) – Investments in Hungary dropped an
annual 4.8 percent in the first quarter after growing 2.4 percent in
the final quarter last year, the Central Statistical Office (KSH)
said on Friday. Construction investments fell by 15.5 percent while machine and
vehicle investments went up by 8.4 percent. The economy grew by 1.6 percent in the first quarter, according
to preliminary figures, said KSH. Continue »

Budapest, May 30 (MTI) – Hungarian industrial producer price
growth accelerated to an annual 6.5 percent in April from 5.7
percent in March, the Central Statistical Office (KSH) said on
Friday. Continue »

Hungary suffers from a stubbornly low
employment rate. Viktor Orban, leader of the main conservative
opposition party Fidesz, promises to remedy the poor jobs situation
and create one million new vacancies in ten years, a task experts
canvassed by Friday’s Nepszabadsag newspaper say is a tall order. Continue »

Budapest, May 29 (MTI) The eight-game rapid chess contest
between Hungary’s Peter Leko and Norwegian Magnus Carlsen continued
with two games in Miskolc, N, Hungary on Thursday, yielding one
draw, and one win for Carlsen. Continue »

The CEO of
Hankook Tire, Seung Hwa Suh, admitted that the management of the
South Korean tyre manufacturer was partially responsible for a slew of scandals
that engulfed the company’s Hungarian factory last year. Continue »

Plaza Centers is to develop Hungary’s largest casino after being awarded a
gaming license for its €1.5bn Dream
Island scheme in central Budapest. The company announced that
it had won a government – led competitive tender for the 3.8m sq ft scheme on the
southern end of Obuda Island, aimed at being Europe’s version of Las Vegas. Continue »