December 2008

EUR 100m Hungarian-Japanese Capital Fund Established

The Hungarian Development Bank (MFB) and Japan's SBI Holdings signed an agreement on December 15, 2008 to set up an EUR 100 million capital fund.


Continental Tobacco Unit Receives HUF 135m in State Support

The Hungarian unit of Continental Tobacco announced that the government had granted HUF 135 million for its technological investment.


Local Councils to Call Tender for Pecs-Pogany Airport


The local councils of Pecs, Pogany and Baranya County intend to invite open tender for loss-making Pecs-Pogany Airport.


Budapest Airport Strike Continues, Though Flight Schedule Proceeding Normally

Employees at Budapest Ferihegy International Airport continued to strike for a seventh day on December 16, 2008, but passenger traffic is nevertheless proceeding smoothly at the airport. 


Prague Energy Exchange to Sell Hungarian Electricity Futures from Next Year

The Prague Energy Exchange (PXE) will start trading Hungarian electricity from March 1, 2009 on its futures market, PXE Exchange Chamber Chairman announced on December 15, 2008.


Hungarian Farm Gate Prices Down 16.5 Pct Yr/Yr in October

Farm gate prices in Hungary fell 16.5 pct yr/yr in October after declining 8.8 pct in September, the Central Statistics Office (KSH) reported on December 15, 2008.


Employers and Unions Reach 2009 Wage Agreement

Employers and unions agreed at a meeting on December 12, 2008 of the National Interest Coordination Council (OET) to a general wage increase of 3-5 pct in 2009 and to establish Hungary's monthly minimum wage at HUF 71,500 next year. 


Antenna Hungaria to Launch Mobile Television Services Next Spring

Swisscom-owned broadcasting company Antenna Hungaria (AH) is planning to launch mobile television services in April or May of 2009, AH segment Director Rudolf Karpati said on December 12, 2008. 

Electrolux to Lay Off 3,000 Workers Worldwide

Swedish home appliance giant Electrolux announced on December 15, 2008. that it will lay off 3,000 employees throughout the world during the remaining weeks of this year and in 2009. 


Consumer Price Inflation Slows Further to 4.2 pct in November

Twelve-month consumer price inflation slowed to 4.2 pct in November from 5.1 pct in October and 5.7 pct in September, the Central Statistics Office (KSH) said on December 11, 2008. 

News Monitoring