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hvg.hu English version

PM Drums Up Fight On Black Economy

Prime Minister Ferenc Gyurcsány on Monday unveiled the government’s plans to amend rules of employment in a bid to
In his speech at Parliament, Gyurcsány emphasized that bureaucracy should be minimized so that it becomes worthwhile to get a job as
... that labor rules should allow for an easier transition from the unemployed status to having a work, with different stages inserted in
... government also proposes to transform the unemployment benefit to a “job seeking benefit,” providing more services and

hvg.hu English version

Hungary Keeps Castles In State Hands

Old castles in state ownership will not be privatized if Parliament approves the government’s proposed amendment to the law on national
Despite earlier plans of the Cultural Heritage Protection Bureau (KÖH) to privatize 27 old castle buildings, the appendix of the law
... castles that are to remain in state ownership, will not be changed. The castles originally intended for privatization included such
... that several protected buildings, including the Császár Baths and the Várbazár at the foot of Castle Hill in Buda, to be taken off the

hvg.hu English version

Competition Watchdog Passes Népszabadság Deal

Hungary’s Competition Office overruled its earlier position and approved B.V. Tabora, a Dutch subsidiary of Swiss publisher Ringier, to
group, increasing its stake to 67.6%. In the first ruling, the Competition Office (GVH) found that the deal could hurt competition on
..., and the Budapest Metropolitan Court ordered the competition authority to conduct a new investigation in the case. In the second

hvg.hu English version

Central Bank Cuts Prime Rate

The National Bank of Hungary (MNB) cut the central bank basic rate by 25 basis points to 7.5% on Monday
latest inflation report issued in February the MNB put the annual rate of inflation to 3.6% by the end of 2005 and 3.4% by the end of
... until recently might start to deteriorate. The exchange rate of the Hungarian forint did not react to the basic rate cut

hvg.hu English version

Hungary Ranks Second On EU Product Recall List

The number of recalls of dangerous or faulty consumer goods in EU member states has increased sharply over the past 12 months, according
reported to the EC has grown 175% from an average four per week in February 2004 to 11 per week in February 2005. The
..., followed by Hungary at 46, Spain at 39, Lithuania at 27 and Finland at 24. In total, 373 products were reported as dangerous or faulty
... tattoo ink, tights, rattles, garden sheds, popcorn machines, decongestion cream and a variety of toys. According to PwC, the reported

hvg.hu English version

Mádl Rejects Reappointment Plans

As coalition forces struggle to name a common candidate for president of the Hungarian Republic, senior opposition party
“I cannot see any pressuring circumstances that would make me change my mind,” President Ferenc Mádl said after Fidesz voiced its proposal
... reappoint him. Mádl is not considering to stay in his post. Although he was asked infor-mally, he cannot see a reason that would make

hvg.hu English version

PM Sacks FinMin In Surprise Move

Prime Minister Ferenc Gyurcsány on Monday dismissed Finance Minister Tibor Draskovics and appointed János Veres, Chief of Staff at the Prime
steps’, and to achieve this, the cooperation with government parties should be improved,” Gyurcsány explained the change. János Veres
... at the Prime Minister’s Office and formerly political state secretary of the Finance Ministry, is expected to have wider political and
...-traday lows reached 249.00 right after the announcement. According to press reports, Draskovics was blamed for making a tax reform not

hvg.hu English version

Italian Police Discovers Hungarian Prostitute Network

A 30-year old Hungarian woman was arrested by the Italian Police for managing a 500-member internet database of Hungarian girls, offering their
All girls in the database were reported to be adults, and were willing to prostitute themselves. They paid €100 a day
... business in Florence. Similarly to Hungarian law, Italian law punishes those who encourage prostitution – who manage networks or
... are charged in connection with the case. They are believed to provide the high-quality apartments in Florence where the Hungarian women

hvg.hu English version

State-Owned Bank Spends Dearly On Ads

Hungarian Development Bank Rt. (MFB) has selected Berg Media Budapest Advertising Agency Kft. for managing a HUF 450 million budget to
... ads, TV and radio campaigns, and other means to boost the image of the state-owned development
”, a procedure that is only acceptable by the procurement law in the case of “special urgency”. The bank said it had to find a new
... previous year’s advertising budget was about to be used up entirely. In the tender, Mindshare Media Agency Kft. was the only competitor
.... Berg Media plans to use ESMA Spanish-Hungarian Advertising Kft. as a subcontractor accounting for more than 10% of the total value of

hvg.hu English version

Hungexpo Reports Losses

State-owned fair organizing company Hungexpo Rt. went HUF 110 million into the red last year, as opposed to making HUF 260 million in
winning bidder. It was rumored earlier that Hungexpo is unlikely to meet the HUF 260 million planned profit target for 2004. At the
..., the board of Hungexpo lowered the profit forecast to HUF 110 million. However, the company’s negative results came as a surprise
... is anticipated that investments, renovation costs, and expenses of wage increases must have caused the severe losses. ÁPV has not commented how

hvg.hu English version

Waning Chances For A Woman President

A steering committee session at MSZP last Saturday accepted the party’s principles for choosing candidates to be Hungary’s next
According to information obtained by HVG, the session decided the ideal presidential candidate is a true democrat, possesses political
... rumored to be the MSZP’s choice for Hungary’s next President, might not make it to candidacy. SZDSZ repeatedly said it
... Szili, who have been active politicians of any party earlier. Contrary to previous promises, candidates were not named by the steering

hvg.hu non-base

Internet Banking Booms

The number of residential users of internet banking services grew 44%, while the number of corporate users swell 36% last year, according
is fueled by the increase of internet-based insurance brokers. The most popular insurance service bought through the internet is third party

hvg.hu English version

Committee Sets Two Paths For Tax Reform

A government committee in charge of drafting reforms to Hungary’s taxation system has submitted two sets of proposals, which partly
Version “A” of the tax reform committee’s two proposals aims to serve the enhancement of employment and righteousness. In this version
... original 16% rate of corporate profit tax would resume. As far as personal income tax is concerned, version “A” proposes to raise the
... upper tax bracket to HUF 1.7 million as of 2006, with an outlook to up the limit to HUF 2.5 million in 2007

Infinit Tech

Átalakuló fájlcserélési szokások

Legfrissebb felmérésében a Pew Internet & American Life Project a különböző fájlcserélő programokkal (peer-to-peer, P2P) kapcsolatos

hvg.hu English version

Village Plans Fairyland From EU Funds

The local municipality of Csurgó, Southwest Hungary, dreams of building a HUF 2 billion Folk Tale Park by 2008, to be financed 70% from
support. Bihari said the project will greatly contribute to reduce the high unemployment rate in the region, currently at 20
... Csurgó is planned to include an open-air theater, a movie theater, a library, an exhibition hall and will be populated by folk tale
... Hungary’s richest men offered to finance the project entirely, but the municipality refused his offer, because “it concentrated mostly

hvg.hu English version

State Pays Dearly For Millenáris Plots

Kisrókus 2000 Kft., a company owned by the IT and Telecommunication Ministry, spent HUF 100 million to buy stakes of other owners of the
Bessenyei’s companies and Budapest-based Főmterv Rt. were part owners with Kisrókus of close to one-third of the three-hectare park
...-owned Kisrókus to consult with them on every move in the park’s development plan. However, the 5,600-square meter area the Peter Green
... that operates Millenáris Park, rents the area from Apisolato Hungary Kft., while the State Treasury Department is looking for suitable real estate

hvg.hu English version

Committee Halts Mega Train Purchase Deal

The State Procurement Arbitration Committee forbade Hungarian State Railways Rt. (MÁV) to sign a contract with a consortium of Swiss
motor trains and an option for another 30 vehicles. Bombardier Transportation GmbH, a German-Canadian runner up to the Swiss-Hungarian
... complaints that MÁV, which started its tender procedure last April, made changes to its evaluation criteria in the course of the
... cheaper vehicles, MÁV found the electricity consumption of the Stadler-Ganz trains to be better. András Ökrös, MÁV’s newly appointed

hvg.hu English version

Advisor Appointed To State Electricity Works

András Fabriczki, a former treasurer of senior coalition party MSZP and government commissioner of the Healthcare Ministry, was appointed advisor
appointed to the company’s board. Fabriczki was hired as an advisor to network director Gábor Tari and CEO István Kocsis
... reported directly to the Economy and Transport Ministry, which oversees Hungary’s energy issues. In future, Mavir will operate as a
... MVM. The move will be made possible by amending the 2001 Act on Electricity this year. The amendment, scheduled to be passed this year

hvg.hu English version

Gov’t Saves On Home Loan Financing

In February, the Hungarian state stopped pre-financing subsidized home loans to banks, saving more than HUF 10
In a bid to reduce burdens of the central budget, the government changed the timing of paying state subsidies to banks
... financed the state subsidies on home loans in Hungary. Previously, the state budget transferred the interest payment subsidy to banks
... every month. In February, the government said from then on it will transfer the interest payment subsidy to banks only at the end of

hvg.hu English version

SZDSZ Reelects Chairman

Representatives of junior coalition party SZDSZ – Hungarian Liberal Party voted to reelect Chairman Gábor Kuncze (55) at the party’s
Kuncze’s main rival Gábor Fodor (43), who promotes a change of generations among SZDSZ leaders, managed to collect close
... appointed. The junior coalition member also amended its founding resolutions; it changed its name to Alliance of Free Democrats

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Tamás Ervin: Orbán Indiában – nem csoda, ha az állampolgárból előbújik a kisördög

Tamás Ervin: Orbán Indiában – nem csoda, ha az állampolgárból előbújik a kisördög

Tompos Márton: Orbán megpróbálhatott leszedetni egy grúz politikust az amerikai szankciós listáról

Tompos Márton: Orbán megpróbálhatott leszedetni egy grúz politikust az amerikai szankciós listáról

Porig égett Paris Hilton otthona

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Egy hónapos eltiltást kaptak mosonmagyaróvári kézilabdázók, mert játékmegtagadással tiltakoztak a klubvezetés ellen

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Tamás Ervin: Orbán Indiában – nem csoda, ha az állampolgárból előbújik a kisördög

Tamás Ervin: Orbán Indiában – nem csoda, ha az állampolgárból előbújik a kisördög

Elpusztult Meghan Markle kutyája, Guy

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Újabb súlyos vádak: kiküldték a fekete dolgozókat, ha Mohamed Al-Fayed megjelent a Harrodsban

Újabb súlyos vádak: kiküldték a fekete dolgozókat, ha Mohamed Al-Fayed megjelent a Harrodsban

Biden gyújtotta be a rakétákat Trump chipháborújában: súlyosan korlátozná az exportot az USA

Biden gyújtotta be a rakétákat Trump chipháborújában: súlyosan korlátozná az exportot az USA

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