Budapest City Council narrowly endorsed last week a contract that will give… Continue »

Mayor of Budapest Gábor Demszky threatened a libel action last week after two  former employees of the firm responsible for maintaining Budapest’s public areas, FKF, said he had used the company to renovate properties owned by his family.  Continue »

The same group of descendents of Holocaust victims that recently launched a claim for billions of dollars in damages against the loss-making Hungarian state rail company MÁV for allegedly abetting in the transport of Jews to death camps last week launched a similar action against local and regional banks: the Hungarian National Bank, OTP, Erste Bank, MKB and Creditanstalt.  Continue »

The total spend on advertising in Hungary fell 19.2 per cent last year, the Hungarian Advertising Association (MRSZ) reported last week.  Continue »

The environment ministry has put up HUF 450 million (EUR 1.70 million) to subsidise the replacement of traditional tungsten filament light bulbs with new energy efficient fluorescent types.  Continue »

The sale of the Hungarian gas distributor Emfesz to a Russian-owned Swiss firm last year was legal, Budapest Municipal Court ruled last week.  Continue »

The financial market regulator PSZÁF last week launched an investigation into 30 banks to establish whether their failure to lower interest rates on forint-denominated loans in line with cuts to the Hungarian National Bank’s base rate constitutes a violation of a recently introduced banking code of conduct.  Continue »

On 1 April Dr. Bálint Bassola joined the Budapest office of the international law firm Salans. He will strengthen the competition law practice at the firm. Before joining Salans he spent almost six years at the Hungarian Competition Authority  Continue »

The National Development Agency allocated some HUF 17 billion (EUR 64.08 million) in state subsidies last week for development or modernisation of company headquarters.  Continue »

The Internal Emission Trading Association (IETA) has warned Lithuania and Hungary to avoid selling certified emission reduction (CER) units until the European Commission passes legislation prohibiting the return of these quotas to the EU market.  Continue »