A negotiating team from the “troika” of the International Monetary Fund, European Union and European Central Bank arrived in Budapest on Tuesday to begin negotiations over a EUR 15 billion bailout. The talks had been delayed since the National Economy Ministry announced last November that it had applied for a “precautionary” credit line, but a… Continue »

There is great uncertainty concerning the job protection action plan “urged” by the Fidesz parliamentary party group. It is unknown whether the revenue side of next year’s budget, which is in any case plagued by serious risks, will be able to finance the costly programme, and it is questionable what economic effects it will have… Continue »

Clients of telecommunications company Magyar Telekom’s customer service hotline will have the option to subscribe to voice recognition-based identification, doing away with pin codes. The system is said to be practically impossible to cheat. This is supported by the fact that in a worldwide comparison more banks than telecommunications companies use the method and it… Continue »

While a year ago only one in ten televisions were equipped with 3D capability, 30 per cent of screens sold in June could be used to watch three-dimensional broadcasts, business daily Világgazdaság said on Wednesday. Besides development in technology, 3D sales may have been boosted by the launch of state-owned broadcaster MTV’s three-dimensional channel that… Continue »

The Tata Street Music and Arts Festival is a newcomer to the scene, the inaugural event running from 27 to 29 July by the shore of Öreg-tó (Old Lake) in the town about an hour’s drive from Budapest. The festival will feature several popular Hungarian bands and an array of street performers and visual artists.… Continue »