October 2008

Hungary Signs Cooperation Agreement with Daimler-Benz on Planned Production Base

Hungarian government officials on October 27th 2008 signed a cooperation agreement with Daimler-Benz on a EUR 800 million production base.


IMF to Provide Hungary with Financing Package

The International Monetary Fund (IMF) has reached agreement with Hungary regarding substantial financing package.


GVH Approves Russian Company TTM Acquire 51 pct of Ganz Engineering Environmental

Hungary's Competition Authority approved the acquisition of a 51 pct stake in nuclear power station equipment manufacturer Ganz Engineering Kornyezetvedelmi by a unit of Russia's state-owned Rosatom.


Parliament Adopts Law Introducing SPS Agricultural Subsidy System in 2009

Hungary's parliament has adopted a law stipulating the introduction of the Single Payment Scheme (SPS) agricultural subsidy system in the country next year. 


Decathlon to Open Four More Stores in Hungary

French sporting goods chain Decathlon will open two new stores in Hungary next month and is planning to open a further two stores in the country next year. 


EBRD Supports Accord between Hungary and IMF

The European Bank of Reconstruction and Development (EBRD) is supportive of the agreement between IMF and Hungary.


GKI Lowers 2008 GDP Growth Projection to 2.0 pct

Economic think tank GKI has lowered its forecast for Hungary's GDP growth to 2.0 pct from 2.7 pct for 2008, and to 0.5 pct from 3 pct for 2009, the think tank announced on October 26th 2008.


Ministers Inaugurate Bridge Connecting Hungarian and Croatian Motorways

The new Zrinyi Bridge, connecting the Hungarian and Croatian Motorway was inaugurated on the 22nd of October.


MOL May Cut Capital Expenditures

The Hungarian oil and gas company MOL may cut its expenditures depending on the changes in the business environment.


News Monitoring