Budapest Business Journal

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Updated: 4 years 27 weeks ago

Lehman Europe deal eyed as Paulson pushes bailout

Sat, 09/27/2008 - 06:00
A sale of Lehman Brothers' European arm loomed as the next step in Wall Street's transformation as the main architect of a $700 billion US financial sector rescue plan warned lawmakers not to slow its progress.

Investors to build new airport in Fehérvár

Sat, 09/27/2008 - 06:00
An airport near Székesfehévár that Hungarian property developer Biggeorge's is set to build will cost Ft 20 billion – Ft 25 billion, business daily Napi Gazdaság reported.

Watchdog gives nod to Vienna Bourse to acquire majority stake in Budapest peer

Sat, 09/27/2008 - 06:00
Hungary's financial market watchdog PSzÁF said it approved the Vienna Bourse's request to acquire up to 50.45% of the Budapest Stock Exchange (BSE).

Hungary slips in Transparency International ranking

Sat, 09/27/2008 - 06:00
Hungary fell eight positions from last year to 47th on Transparency International's 2008 Corruption Perceptions Index.

EC extends review of MÁV Cargo purchase

Sat, 09/27/2008 - 06:00
The European Commission has extended by ten days its competition review of the purchase of MÁV Cargo, the spun-off freight unit of state-owned Hungarian railway company MÁV.

PannErgy sells 1.68 mln Pannunion shares

Sat, 09/27/2008 - 06:00
Alternative-energy company PannErgy announced on the website of the Budapest Stock Exchange that it had sold 1,677,914 shares of its packaging-materials unit Pannunion at a subscription price of Ft 250 per share in a public offer concluded on September 19.

US bailout plan hits snags, keeps markets on edge

Sat, 09/27/2008 - 06:00
Haggling over a $700 billion bailout to tackle the worst US financial crisis since the Great Depression looked set to drag into next week, threatening to keep markets on tenterhooks over the shape of the Wall Street rescue.

Philips confirms lighting unit outlook

Sat, 09/27/2008 - 06:00
Dutch Philips Electronics said its lighting unit was on track to achieve its earning before interest, taxes and amortization (EBITA) margin target of 12% to 14% for 2010.

Gasol signs deal with EDF and Afren for African jv

Sat, 09/27/2008 - 06:00
Gasol Plc has signed an agreement with Afren Plc and Electricite de France to look at establishing a joint venture on developing gas assets in West Africa.

Aktiv Kapital completes major portfolio acquisition

Sat, 09/27/2008 - 06:00
Norway’s Aktiv Kapital has entered into an agreement with one of the world leading financial institutions to purchase a consumer credit portfolio in Austria with face value of NOK 2,141 million (EUR 258 million).

Templeton says euro zone recession fears exaggerated

Sat, 09/27/2008 - 06:00
Mark Mobius, managing director, Templeton Asset Management, claimed that widespread and ongoing fears of a European-wide recession have been exaggerated, Eurofinance said in a press release.

Linde Group, Vattenfall enter technology partnership

Sat, 09/27/2008 - 06:00
The technology group Linde Group and Vattenfall Europe Technology Research GmbH, a subsidiary of the Vattenfall energy group, have entered into a wide-ranging technology partnership for carbon dioxide separation in coal-fired power stations.

Global emission to drop 15% in 2020, with US on board

Sat, 09/27/2008 - 06:00
Market intelligence provider Point Carbon predicts that the UN climate negotiations, to be held in Copenhagen in December 2009, will succeed in securing legally-binding emission reductions (known as QELROs - quantified emission limitation and reduction obligations).

GE sees surge in bankruptcy financing

Sat, 09/27/2008 - 06:00
General Electric Co expects a five or sixfold rise this year in demand for financing to help bankrupt US companies restructure themselves as the credit crunch leaves a growing number of businesses scrambling for liquidity.

Crackdown on shadow economy yields up to Ft 40 bln

Sat, 09/27/2008 - 06:00
Hungary's budget revenue was boosted Ft 30 billion – Ft 40 billion in H1 of 2008 by a crackdown on the shadow economy, according to a report by a parliamentary committee set up to track the results of the measures.

Hungary urges reform to welfare system

Sat, 09/27/2008 - 06:00
A national strategic report published on the website of the Ministry of Social and Labor Affairs said that Hungary's current pension system must be reformed or else an increasing number of Hungarians could be left without pensions.

Tokaj winegrowers expect 20% better harvest

Sat, 09/27/2008 - 06:00
Winegrowers in Hungary's famous Tokaj wine region (NE Hungary) expect to harvest 20% more grapes this year than they did last year.

MOL to be main “victim” of Robin Hood tax

Sat, 09/27/2008 - 06:00
Energy producers and distributors/traders will have to pay an extra 8% profit tax next year according to a bill submitted to the Hungarian Parliament by the Finance Ministry.

Global stocks slip as US bailout questioned

Sat, 09/27/2008 - 06:00
Asian stocks slid on Tuesday on skepticism about how Washington's $700 billion bailout plan can restore confidence in the US financial system when the economy may be in a recession, boosting gold and government debt.

Vietnam to partly privatize top fuel importer Petrolimex

Sat, 09/27/2008 - 06:00
Vietnam will partly privatize top state-owned fuel importer and distributor Petrolimex to raise funds to expand its downstream business, the government said.

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