November 2008

Dunaferr Cuts Costs

Dunaferr cuts costs and reschedules investments because of the financial crisis.


August Trade Deficit EUR 76 million, Down from Preliminary

Hungary posted a EUR 76.1 million trade deficit in August, the Hungarian Central Statistical Office (KSH) said in a second reading on November 5th.


Hungary’s External Financing Requirement to Fall In 2009 

Hungary's gross external financing requirement will fall in 2009 because of faster narrowing fiscal (to 2.6 pct of GDP from 3.4 pct this year).


AKK Cancels Bond Issues for Rest of Year

The Government Debt Management Agency (AKK) said that it was cancelling all remaining bond auctions.


EC Formally Proposes EUR 6.5 Billion Loan for Hungary

The European Commission on formally proposed making available a EUR 6.5 billion loan to Hungary to support the balance of its current account.


Croatia Suspends Talks with Mol on INA Sale

The Croatian government has suspended talks with Hungarian oil and gas company on a sale or swap of shares in Croatian peer INA, Reuters reported on October 31st 2008.


Wabard Could Sign More Than 50,000 Mandatory Vehicle Contracts in Switch-Over Month

Business prospects for Wabard look very promising in the switch-over month of November.


GE to Cut Production, Lay Off Staff at Hungary Lighting Unit – extended

General Electric will cut production at its lighting unit in Hungary and lay off 500 of its 10,000 staff, the company's Consumer and Industrial division announced on October 30th 2008.


Quaestor Wins HUF 600 million EU Grant for Hotel Renovation

Hungarian investment group Quaestor has won a HUF 600 million EU grant for the renovation of a grand hotel shut down 30 years ago in the heart of Szeged, local daily Delmagyarorszag reported on October 30th 2008.


Industrial Producer Prices Rise 4.7 Pct Yr/Yr in September

Hungary's twelve-month industrial producer prices rose 4.7 pct in September, picking up from a 3.2 pct increase in August, the Hungarian Central Statistical Office (KSH) reported on October 30th 2008.  


News Monitoring