October 2008

Competition Office Grants Conditional Approval for Spektrum TV Acquisition

The Hungarian Competition Authority (GVH) on September 29th 2008 announced that it had granted conditional approval of Chellomedia Programming's acquisition of Hungarian television channel Spektrum TV.


2009 Budget Targets 3.4 pct-of-GDP Cash Flow Deficit

The 2009 budget targets a cash flow-based deficit of 3.4 pct of GDP, Finance Minister Janos Veres said before presenting the budget to the House Speaker on September 29th 2008.


Hungary Business Confidence Improves in Q3 - Ecostat


Ecostat's measure of confidence at Hungarian companies rose 3.3 percentage points to 88.7 pct in Q3 from Q2, the research arm of the Hungarian Central Statistical Office (KSH) said on September 29th 2008.



Unemployment Rate Unchanged at 7.5 pct in June-August

Average unemployment rate remains unchanged compared to previous three-month period.


R+D Spending Growth in Hungary Slows to about 3 pct in 2007

Growth of spending on research and development in Hungary slowed to a little over 3 pct in 2007 from increases close to 15 pct in 2005 and 2006, a summary published by the Central Statistical Office (KSH) reveals.


Budapest Spa to Sell Assets to Pay for Bath Developments

Local council-owned Budapest Spa plans to sell off some assets to raise HUF 4.5 billion-5.0 billion (EUR 18.5-20.5 million) to modernize its baths, business daily Vilaggazdasag reported on September 26th 2008.


OMV Enters Repo Agreement for 10 million MOL Shares

Austrian oil and gas company OMV said it entered into a share sale and repurchase agreement for 10 million shares, or 9.1 pct of the total, of Hungarian peer MOL in a notice sent to MOL on September 25th 2008.


Vodafone Selects MADS to Provide Mobile Advertising Platform

Mobile service provider Vodafone Hungary announced on September 25th 2008 that it selected Dutch mobile advertising technology provider MADS to deliver a platform for its Vodafone Live! Portal.


Hungary Slips Eight Spots to 47th on Transparency International Ranking

Hungary fell eight positions from last year to 47th on Transparency International's 2008 Corruption Perceptions Index published on September 23rd 2008.


News Monitoring