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hvg.hu English version

PM Announces Social Spending

Prime Minister Ferenc Gyurcsány on Monday announced plans to double the amount of child raising benefits as a part of the government’s
2006 the government plans to spend a total of HUF 349 billion on supporting families, of which HUF 319 billion will be spent on paying

hvg.hu English version

Central Bank Cuts Prime Rate

The National Bank of Hungary (MNB) cut its prime interest rate 25 basis points to 7.25% on Monday. At the same time the central bank
The MNB’s Monetary Council cut the prime interest rate four times prior to Monday’s cut. In January it lowered the prime rate by 50
... 9%, in February by 75 basis points to 8.25%, in March by 50 basis points to 7.75% and in April by 25 basis points
... forecasts lower rate of annual inflation than previously. It lowered its annual inflation forecast at the end of the year to 3.3%, down

hvg.hu English version

Hungarian Economy Seen Slowing

Hungary’s gross domestic production (GDP) grew 3% in the first quarter of 2005, compared to the same period last year. The growth rate
warns its figures might be 0.2 percentage point off the final numbers. Regardless of the methodology, the Hungarian economy seems to

hvg.hu English version

Italy To Contest EU Ruling On Tokaji

banning Italian winemakers from using the tocai name. Italian Agriculture Minister Gianni Alemanno announced he plans to come
“Italy has a few more aces,” Alemanno said over the weekend in Rome, implying that Italy does not give up the fight for the right to
... be observed, Alemanno is hopeful that the Italian requests will be successful eventually in amending the treaty, especially if Italy can convince
... accept the amendments. Italy now seeks compensation for its winemakers, who claim to have suffered damages due to the

hvg.hu English version

Hungary To Host Entertainment City

The northwest Hungarian village of Bezenye is the likely premise for a, €700 million entertainment project, which is planned to include
kilometers from the Austrian and Slovakian borders of Hungary. The Hungarian government has issued a building permit for the project, referred
...-Vegas in the Hungarian press, as it is expected to create 8,000 new jobs in the region. In the meantime, the project has received an
... father, Joe, who was later replaced by John F. Groom, president of the largest gaming and hotel complex in Las Vegas. The project still has

hvg.hu English version

Bridgestone Picks Hungary For Tire Plant

Leading Japanese tiremaker Bridgestone announced on Monday that it plans to build a €190 million tire plant near Tatabánya, Central
When publishing its first half results in Tokyo on Monday, Bridgestone said it intends to build a plant that will produce radial tires
... cars and small commercial vehicles. Production will start in 2008, and the firm plans to reach an output of 8,000 units by mid-2009.
... Hungarian plant, Bridgestone increases the number of its productions units to 51. The Japanese tiremaker runs production facilities in

hvg.hu English version

PM Promises Small Reforms In Healthcare

As part of the government’s “100 steps” program, Prime Minister Ferenc Gyurcsány on Monday announced plans to rejuvenate Hungary’s
the country’s geographic area. Gyurcsány aims to extend the service to cover 90% of the country, with plans
... Hungary’s 19 counties and to overhaul the helicopter rescue service completely. He also cited cancer prevention as a focal point of the
... program. He aims to increase the current 53% ratio of women taking part in breast screening to 65% by next year

hvg.hu English version

Central Bank Pushes For Reforms

Hungary should carry out fundamental reforms in order to become eligible for introducing the euro in 2010, Zsigmond Járai, President of
According to Járai, the current account deficit is likely to reach 8%–9% of GDP this year, mainly due to the
.... The MNB expects inflation to drop to 3.4%–3.5% this year. “On the long run, stable and strong economic growth is
... public sector deficit, Járai said. “Capping expenditures of the state budget is extremely important because [the country needs to

hvg.hu English version

Matáv Changes Name For Telekom

Hungary’s market leading telecom company Matáv Rt. and its subsidiaries will change their names and logos in the first half of May to
T-Com and T-Systems, respectively, cable TV company MatávKábelTV Kft. will change its name to T-Kábel and internet service provider
... be called T-Online in future. Premium phone services company IKO-Matáv Média Holding Rt., a 50% Matáv subsidiary, will be renamed to
... group started last year, when leading mobile phone provider Westel Mobile Telecommunications Rt. changed its name to T-Mobile Hungary

hvg.hu English version

Gov’t Hits Waiters, Builders In Cleanup Drive

conditions for building permits, according to the government’s latest proposal aiming to eliminate unreported incomes and
The government suggests that restaurants should add a service fee of up to 15% to their bills so that tips can be
... tips could become subject to personal income tax. Restaurants will be entitled to decide about the exact size of the fee.
... conference. According to the government’s plans, when applying for a building permit, the applicant will be expected to

hvg.hu English version

Central Bank Pushes For Reforms

Hungary should carry out fundamental reforms in order to become eligible for introducing the euro in 2010, Zsigmond Járai, President of
According to Járai, the current account deficit is likely to reach 8%–9% of GDP this year, mainly due to the
.... The MNB expects inflation to drop to 3.4%–3.5% this year. “On the long run, stable and strong economic growth is
... public sector deficit, Járai said. “Capping expenditures of the state budget is extremely important because [the country needs to

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

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Nyolc kilométeres a sor az M0-son Dunaharasztinál

Nyolc kilométeres a sor az M0-son Dunaharasztinál

Bábolnán is tiltakoznak a ragadós száj- és körömfájás miatt leölt marhatetemek eltemetése ellen

Bábolnán is tiltakoznak a ragadós száj- és körömfájás miatt leölt marhatetemek eltemetése ellen

Nagy Ervin szerint Fábry Sándor felismerte, hogy nem kellett volna befeküdnie a hatalomnak

Nagy Ervin szerint Fábry Sándor felismerte, hogy nem kellett volna befeküdnie a hatalomnak

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Erősebb kereső jöhet az Instagramba

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Rendelet van, megállapodás még nincs a közös működtetésű színházak finanszírozásáról

Ókovács Szilveszter szerint testszégyenítés, amit az operaházi szakszervezet tett vele

Ókovács Szilveszter szerint testszégyenítés, amit az operaházi szakszervezet tett vele

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Gyengébb, de még így is 680 lovas új Bentley-k érkeztek

Károly király Giorgia Melonival töltötte a házassági évfordulója reggelét

Károly király Giorgia Melonival töltötte a házassági évfordulója reggelét

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Orosz tüntetők zavarták meg a szmolenszki katasztrófa évfordulóján tartott lengyel megemlékezést

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