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hvg.hu English version

OECD Criticizes Bank Sector

profitable compared to other EU members and the discrepancy calls for scrutiny both from legislation and market authorities
In reaction to the OECD’s opinion, Hungary’s State Supervision of Financial Institutions (PSZÁF) stated that the market watchdog does
... profitability rate of Hungarian banks exceptional. According to PSZÁF, Hungarian banks produced 18% return on assets in 2003, exceeding
...% in new member states and 10% in old member countries, however the Hungarian figure pales to the 15%–20% return banks achieved in the

hvg.hu English version

OTP CEO Buys Advertising Group

OTP Bank Rt. Chairman and CEO Sándor Csányi is believed to have acquired a 75% stake in Multireklám Outdoor Media Agency Rt., a major
believed to have a new 75%-owner, Bonitás 2002 Investment and Consulting Kft., which was founded by Csányi in March 2002. Company Court

hvg.hu English version

PM Appoints Monetary Council Members

Prime Minister Ferenc Gyurcsány named four new members to the monetary council of the National Bank of Hungary (MNB). The nomination
... amendment to the Central Bank Act in December 2004 that allows the PM to add members to the main decision
Research Rt., was nominated to be the fourth new member of the council. Neményi worked at the MNB until 2001, when MNB President
... dismissed her. If President of the Republic Ferenc Mádl approves the nomination, the number of monetary council members will grow to
..., when the mandate of current members Henrik Auth and Péter Adamecz will end. From then on, the council will be made up of 9 to 11

hvg.hu English version

Hospitals Choose Corporate Status

The Budapest Mayor’s Office approved requests from two hospitals to transform into public benefit companies (Kht.), a status giving them
anticipates that HUF 800 million will be invested into Schöpf-Merei in the near future. Likewise, private investors are expected to
... general assembly. Dismissing opposition opinion that the transformations are part of efforts to sell off the hospitals, Ikvai-Szabó
... hospital companies will be entitled to use the land and the buildings only for the purposes connected to their core

hvg.hu English version

Gov’t Hikes Electricity Prices

Electricity prices will increase between 4.3% and 12% as of Feb. 15, according to a government decision that aims to
price scheme that introduces special tariffs for the poor and hikes prices for corporate customers and well-to-do residential users.
... Ferenc Gyurcsány gave a difficult task to Economy Minister János Kóka in January when he asked Kóka to come up with a new
... socially friendly tariffs and is not expected to burden the tight central budget. The resulting pricing regime includes

hvg.hu English version

State Pays For Bad Housing Loans

The Hungarian state will bail out debtors who have not paid their installments for at least six months on their housing loans taken before 1989
Next year, OTP will be compensated for its non-performing loans ranging from HUF 100,000 to HUF 200,000 in outstanding capital, while
... receive a ten-year grace period when no further interest is assumed on their debt. Until Feb. 15, OTP will have to notify debtors, who
... June 30 to report their compensation request to the local chief of staff of their municipality. In the first year, the

hvg.hu English version

Opposition Party In Large Makeover

as the governing parties suggest. While Fidesz leader Viktor Orbán is seen weakening, allegedly he is working hard in the background to
By the turn of 2004 and 2005 governing party MSZP has come close to Fidesz in popularity figures, however, the opposition party is seen
... deputy Parliamentary group leader Antal Rogán to be campaign chief heading the party’s preparations for the 2006 elections and
... as an international spokesman representing the party’s views abroad. In the meantime, Fidesz is expected to separate the positions of

hvg.hu English version

Chinese Imports Destroy Local Clothing Industry

Producers of branded goods for exports are the only local clothing manufacturers that can expect to survive the boom of Chinese mass
The EU is planning to introduce a preliminary monitoring system on Chinese shoe imports, similarly to clothing imports
... Organization (WTO) has put an end to the import quota system that was in place for almost 40 years. Importers will need to
... they will automatically receive it. “The monitoring system will serve to provide preliminary statistics to the EU, so that

hvg.hu English version

Hungary Mulls Road Tolls For Foreigners

Well ahead of the tourist season, the Finance Ministry plans to introduce road tolls for cars with foreign license plates
[owners of] these vehicles start contributing to the expenses,” Finance Ministry Spokesman Ferenc Pichler said. The Finance Ministry
... tens of billions of forints in state revenues from the road tolls. Most likely, drivers will have to pay the road toll when entering
... talks between ministries will start this week. Executives of tourism services firms can be expected to oppose the new road tolls

hvg.hu non-base

EU Tells Hungary To Curb Deficit

The Hungarian government should return to the deficit-cutting program it submitted to the EU last May, said the council of
budget deficit in 2004 will be 0.9 percentage points higher than the government’s target at 4.6% of GDP. The EC said Hungary needs to
... measures to bring budget deficit under 3% of GDP by 2008, a condition of entering the euro zone in 2010. On the proposal of the EC, the
... Finance Ministers last July gave Hungary until Nov. 5, 2004 to make the necessary corrections for plans in 2004 and 2005. Meanwhile

hvg.hu English version

Minister Expects Record FDI

Economy and Transport Minister János Kóka estimates the amount of foreign direct investment (FDI) in Hungary to reach EUR 3.5 billion in
companies that already pledged to invest a total of EUR 1.5 billion in Hungary. The government will grant support to the
... individual agreements, a practice introduced in 2003. Hungary returned to the practice of individual agreements with large foreign
... Medgyessy-led government after some large automotive companies opted for the Czech Republic and Slovakia instead of Hungary. According

hvg.hu Média

Megalakult az IKO-Matáv Média Holding

A média és a távközlés konvergenciájának elősegítését célként kitűző, 3,2 millárd forintos tőkével bejegyzett holding tulajonosa a Matáv

hvg.hu English version

EU To Form Uniform Rule On Car Registration Tax

In a draft proposal to go in front of the European Parliament, the European Committee (EC) plans to uniform the currently
According to the EC members behind the draft proposal, such registration taxes distort the market and harm the consumer’s interests
... their prices from country to country depending on the registration tax, or the lack of it. In the case of imported used cars, some
... to depend on environmental features of the cars and a tax paid in one member state has to be accounted for in another

hvg.hu non-base

Towns Vie For Cultural Capital Title

Eleven Hungarian cities have submitted applications for the title of Europe’s Cultural Capital in 2010. The potential winners hope to
EU will provide €200,000–€1 million for the winner, furthermore, the town that receives the title can hope for huge national funds, too. According
... recent experiences, organizers spent €30 million–€50 million on their respective projects. Hungarian cities plan to invest HUF 10
... billion on developments if they win the title, and they all plan to complete projects planned earlier.   For example, the city of

MTI Gazdaság

Győrben 35 milliárd értékű beruházás indul idén

Győrben – részben önkormányzati, részben állami forrásból, részben vállalkozói tőkéből - 35 milliárd forint értékű beruházás indul az
Vállalkozói tőkéből létesül az Árkád bevásárlóközpont a Rába gyár volt telephelyén. A 26 ezer négyzetméteres kereskedelmi létesítmény

hvg.hu English version

K&H Ordered To Compensate Clients

The arbitration court of the stock exchange ruled that K&H Equities Rt. has to pay Budapest’s District 10 Municipality HUF 3.4 billion
According to the decision, the brokerage will have to pay District 10 HUF 2.8 billion for its lost deposit and HUF 600
... bank’s files prove that Kulcsár made a total of 578 transactions using the money District 10 deposited at the brokerage. K&H now has 60 days
..., payment deadlines and supplying data to the national bank. In November 2004 PSZÁF already fined K&H HUF 5 million. The bank, however

hvg.hu English version

PM Criticized For Pope Visit

Prime Minister Ferenc Gyurcsány was loudly criticized by Hungarian opposition for his statements during his recent visit to Pope St
During his visit to the Pope and Cardinal Angelo Sodano, Gyurcsány called St. John Paul’s attention to several recent
... a statement calling for ‘yes’ votes in the campaign period prior to the recent Hungarian referendum on dual citizenship for Hungarian
... privatization of the healthcare sector. Secondly, he protested that in a recent demonstration for more central funding to

hvg.hu English version

Hungary Wins Tokaji Case

As of 2007, Italian winemakers will not be allowed to use the Tocai names on their wines, and will have to give way
sweet Tokaji wines – said Italy will have to ban the use of the Tocai name by its winemakers after Hungary joins the Union, or by 2007
... are not obliged, but only recommended to follow the chief judge’s proposals. Piero Pittaro, Honorary President of the World

hvg.hu English version

OTP Wins One Deal, Loses Another

Hungary’s largest bank, OTP Bank Rt. gained a foothold in Croatia last week, while its attempt to buy a Serbian bank failed
OTP shares fell slightly last Wednesday to Friday on news that the Serbian government on Tuesday chose Greece’s Alpha Bank over OTP
..., especially due to its 92-branch network concentrating along the Adriatic shore and the Istra peninsula, both prime tourist
... Romanian bank, called Banca Commerciala Ro-Bank S.A. However, OTP’s management is content to buy a bank in Serbia. There are three

Civilek az iskolai bántalmazások ellen

Civilek az iskolai bántalmazások ellen

Csak négynaponta kell tölteni: 8000 mAh-s akkuval szerelt telefon jöhet

Csak négynaponta kell tölteni: 8000 mAh-s akkuval szerelt telefon jöhet

Magánzárkában tartják fogva Till Tamás feltételezett gyilkosát, így telnek a napjai

Magánzárkában tartják fogva Till Tamás feltételezett gyilkosát, így telnek a napjai

Lemondott a Primark vezérigazgatója, mert tiszteletlenül bánt egy nővel

Lemondott a Primark vezérigazgatója, mert tiszteletlenül bánt egy nővel

Csak négynaponta kell tölteni: 8000 mAh-s akkuval szerelt telefon jöhet

Csak négynaponta kell tölteni: 8000 mAh-s akkuval szerelt telefon jöhet

A kormány majdnem egy teljes százalékponttal lerontotta az idei GDP-növekedési várakozásait

A kormány majdnem egy teljes százalékponttal lerontotta az idei GDP-növekedési várakozásait

Változnak az idők, először bukkantak fel lefoglalt Teslák a NAV árverési oldalán

Változnak az idők, először bukkantak fel lefoglalt Teslák a NAV árverési oldalán

Orbánt posztolt az ifjabb Tate fivér, hogy kiálljon Le Pen mellett

Orbánt posztolt az ifjabb Tate fivér, hogy kiálljon Le Pen mellett

Váratlant húzott a Google: ingyenessé tették a legfejlettebb eszközüket

Váratlant húzott a Google: ingyenessé tették a legfejlettebb eszközüket

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