FDI

The government aims to speed up big infrastructure developments in order to help companies keep staff numbers intact.

The Hungarian Telephone and Cable Corp (HTCC) is moving from the American state of Delaware to Denmark to take advantage of financial and other business opportunities not available in the US, the company said in a statement.

Sberbank, Russia's biggest bank, wants to acquire, in the longer term, an Eastern European peer with an expansive network and subsidiaries.

Year-on-year investment volume in Hungary dropped 2.3 pct in the third quarter of 2008, after a 2.1 pct decrease in Q2 and a 4.8 pct drop in Q1, preliminary figures published by the Central Statistics Office (KSH) on November 28th 2008 show. 

Electricity distributors, majority-owned by Germany's RWE-EnBW, inaugurated a power service station in Gyongyos.

Columbian Tiszai Carbon on November 12th 2008 inaugurated a HUF 7 billion expansion at its carbon black factory in the Hungarian city of Tiszaujvaros, North-East Hungary.

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.

Budapest Ferihegy International Airport operator Budapest Airport (BA) is planning to build a 250-room hotel at the airport, the business daily Vilaggazdasag reported on October 30th 2008. 

Hungarian government officials on October 27th 2008 signed a cooperation agreement with Daimler-Benz on a EUR 800 million production base.

Hungary's Competition Authority approved the acquisition of a 51 pct stake in nuclear power station equipment manufacturer Ganz Engineering Kornyezetvedelmi by a unit of Russia's state-owned Rosatom.