October 2008

Tondach Completes HUF 8.8 Bn Plant in SE Hungary

Austrian tile maker Tondach has completed a HUF 8.8 billion (EUR 35 million) plant in Bekescsaba (SE Hungary), business daily Vilaggazdasag reported on October 13th 2008.


Government Withdraws Tax Law, Budget Proposals

The government is withdrawing proposals for next year's tax law and budget, House Speaker Katalin Szili said after an extraordinary meeting of the House Committee on October 13th 2008.


MOL Acquires 22 pct of INA in Buyout, Final Figures Show

Hungarian oil and gas company MOL acquired 22.15 pct of Croatian peer INA in a buyout ended October 3, official results published on October 13th 2008 by the Central Clearing House (SDA) in Zagreb reveal. 


Wizz Air Sees Double-Digit Cost Savings in Budapest Airport Cooperation

Hungarian low-fare airline Wizz Air expects a double-digit drop in costs as a result of a closer cooperation forged with Ferihegy Airport operator Budapest Airport, CEO Jozsef Varadi said at a press conference on October 13th 2008.


Gov't Stands Ready to Take Steps to Maintain Financial Market Stability

The Hungarian government is dedicated to ensure stable operations, regardless of the influences that the integrated financial systems may have on the national banking system.

Finance Minister Prepares New Macro Targets for Budget Because of Financial Crisis


Due to the global financial crisis, new macro targets are being prepared.

Construction Magnate Demjan Buying Majority Stake in Russian National Lottery Company

Hungarian construction magnate Sandor Demjan is buying a majority stake in Russia's national lottery company Orglot from Gazprombank, Hungarian newsweekly HVG reported in its new issue October 9th 2008.

Cognizant to Open Regional Centre in Budapest

Indian and American IT outsourcing company Cognizant plans to open a regional centre in Budapest, business daily Napi Gazdasag reported on October 7th 2008.

Lakics Group Spending HUF 1 billion to Expand Wind Turbine Parts Capacity

Hungary's Lakics group is expanding its output of parts for wind turbines to meet growing demand.

Hungary Signs for EUR 300 million EIB Loan for EU-funded Projects – Extended

Hungary signed an agreement on October 7th 2008 on a EUR 300 million loan from the European Investment Bank (EIB). 


News Monitoring