Consulting Before Tax Reform

Major tax consultancies Deloitte, Ernst & Young and KPMG supported by the National Association of Employers and Industrialists, the American Chamber of Commerce, the Joint Venture Association and the Hungarian Association of International Businesses introduced their proposal for a possible Hungarian tax reform - reports MTI Econews.

Lending Growth and Forex Gains Raise OTP Q2 Profits by 47%

The second-quarter after-tax profit of Hungary's OTP Bank has jumped by 46.6% to HUF 74.3 billion from the same period a year earlier, boosted by lending growth and big forex gains, the bank said in its consolidated IFRS report for the period, published on August 14th 2008.

GKI projects higher growth, firmer forint

Economic think tank GKI has raised its projection for Hungary's 2008 GDP growth to 3.0 pct in its latest forecast from 2.5-3.0 pct in May, and it puts the average HUF/EUR rate at 245 for the year, compared to an average of 253.6 in the first half of 2008.

Synergon Wins EUR 2 m Contract from MFB

T company Synergon on Friday, August 1st 2008 announced it had won in a tender a contract worth almost HUF 500 million (EUR 2 million) to update and develop the Hungarian Development Bank's SAP system over three years.Synergon will involve SAP Hungary as a subcontractor in the project.

News Monitoring