October 2008

Construction Output Fall Slows to 4.3 pct yr/yr in August

The output of Hungary's construction sector fell 4.3 pct yr/yr in August after a 12.8 pct decline in July according to workday-adjusted figures.


PSZAF Says Hungary's Financial Sector is Stable, Though Risks Have Increased

Financial market report for the first half of 2008 states stable and profitable market, though risks have increased.

HUF 5 Billion Sewage-Treatment Facility Completed in Western Hungary

Officials inaugurated a HUF 5 billion (EUR 19.8 million) environmentally friendly sewage-treatment facility in Szombathely (W Hungary) on October 17th 2008.


Parliament to Support Bills on Spending Ceiling and Public Finances

Maintenance of budget discipline and ensuring deficit decline are among the main priorities.


Hungarian Construction Magnate Demjan Launches First Russian State Lottery

The Hungarian construction magnate Sandor Demjan launched Russia's first state lottery with a number of the country's Olympic athletes - revenue from the lottery will support sport - at an event in Moscow's Ritz Carlton hotel on October 15th 2008.


Kingston Technology sees Hungary sales rising 21 pct to USD 8.7 million in 2008

Memory storage device maker Kingston Technology expects sales in Hungary to rise 21 pct to USD 8.7 million in 2008.


PM Proposes Cutting Deficit Targets, Postpone Tax Cuts In Government Action Plan

Hungarian Prime Minister Ferenc Gyurcsány proposed cutting the 2008 as well as the 2009 fiscal deficit targets.


Csanyi Calls Drop in OTP Share Price "Intentional Attack"

OTP Bank CEO Sandor Csanyi called a sharp drop in the bank's share price in the last minutes of trade on October 9th.


Freesoft Unit Wins R+D Grant

IT company Freesoft unit HUMANsoft has won a research and development grant in a consortium for a healthcare IT system.


Aquaprofit, Proform Win Tender to Build Spa Hotel

A consortium of Aquaprofit and Proform has won a tender to build a 220-room four-star hotel.


News Monitoring