April 2009

Colliers International: Hotel Market Snapshot in the View of the Euro Exchange Rate

All the players of the real estate market pay great attention to the movements of the exchange rate of the Hungarian Forint (HUF) versus other currencies.

The European Consumers Centre Hungary Objects to the Airlines That Make Their Passengers Wait for a Day

According to the EU law, airlines are obliged to offer their passangers an alternative way to travel in case they have not provided information or proper explanation regading a flight cancellation.

Association of Hungarian Employers and Industrialists Agrees with the Government’s Plans

MGYOSZ is agreeing with the main directions of the Government’s assumptions.

Budapest Hosts the European Outsourcing and Shared Service Leaders

Budapest will host the 9th Annual European Shared Service and Outsourcing Week between May 11 and 14, 2009.

The Capital of Hungary Is Considered to Be a Mature Hotel Market - CBRE

The ADR increased slightly during 2008, although a large drop in occupancy levels during H2 resulted in decreasing RevPAR (revenue per available room) – claims the latest Hotel Market Report of CB Richard Ellis (CBRE).

Hungary Central Bank Leaves Rates Unchanged at 9.5 Pct

At its meeting on 20 April 2009, the Monetary Council reviewed the latest economic and financial developments and left the central bank base rate unchanged at 9.50 pct.


Machinery Maker Building HUF 1.5 Billion Plant in Kaposvar

Machinery maker Lakics Gepgyarto is spending almost HUF 1.5 billion to build a new plant at its base in Kaposvar (SW Hungary), owner Laszlo Lakics announced with the city's mayor Karoly Szita on April 15.


New Prime Minister Expects Hungary's Economy to Shrink By 5.5-6 pct in 2009

Hungary's economy is likely to contract by 5.5-6 pct this year, Prime Minister Gordon Bajnai said following a government meeting on April 19.

Hungary Paper Market Demand Drops More Than One-Fifth

Demand on Hungary's paper market fell more than one-fifth in the first quarter as companies spent less on marketing and the automotive industry cut packaging orders, business daily Vilaggazdasag reported on April 20.


Real Earnings Fell by 4.3 Pct in January-February

Real earnings fell by 4.3 pct compared to January–February 2008, paralleled by a 3.1 pct increase of the consumer price index.


News Monitoring