June 2009

Legislators Endorsed New Tax Bills and Amendments

An old debate has reached its end when the real estate tax was accepted by the cabinet and the Parliament has endorsed the bill.

Hungary’s Budget Dept Drops in May from Forint Strengthening

Hungary's foreign currency and forint-denominated budget debt fell a combined HUF 153.2bn in May to HUF 19,052.4bn at the end of last month.

A Total of HUF 55.5 Billion for Higher Education

Construction work can commence in 13 higher education institutions around the country resulting in major orders for the building industry.


News on Hungarian business, financing and banking from international news sources.

Skyeurope Has Been Granted Creditor Protection

SkyEurope Airlines a.s., the operating subsidiary of SkyEurope Holding AG, on 22 June announces that it has been granted creditor protection by the Bratislava I District Court to allow for the management to reorganize.

Monetary Council Voted to Maintain the Central Bank Base Rate at 9.5 pct

At its meeting on 22 June 2009, the Monetary Council reviewed the latest economic and financial developments and voted to maintain the central bank base rate at 9.5 pct.

Kv Pharmaceutical Company Entered Into an Agreement with Gedeon Richter

KV Pharmaceutical Company on 19 June announced that it entered into an agreement with Gedeon Richter, Plc. of Budapest, Hungary, and jointly with Gedeon Richter USA for licensing rights to some of KV’s technologies and products in Women’s Health.

Mav Inaugurates HUF 1.8 Billion Remote-Control Traffic System in Szeged

State-owned railway company MAV inaugurated a HUF 1.8 billion (EUR 6.39 million) remote-control traffic system in the city of Szeged (SE Hungary) on 19 June.

Wizz Air Commits to Buy 50 Airbus A320s

Wizz Air, the largest Central and Eastern European low budget airline, has signed a Memorandum of Understanding to buy 50 more A320s. This will take their total orders up to 132 aircraft.

Danuta Hübner Visits to Hungary

Danuta Hübner EU Commissioner for Regional Policy paid a two-day visit to Hungary, whereby the Commissioner visited several development projects implemented in rural regions with the help of EU subsidies.

News Monitoring