Finance

Bank Association Head Sees Growing Attractiveness of Forint Loans

Forint loans could become more attractive than foreign currency-based loans in Hungary if the National Bank of Hungary cuts the base rate to 5.0–5.5 pct by year-end, as expected, Hungarian Bank Association chief Tamás Erdei said in the Saturday issue of daily Népszava.


PRESS MONITOR

International news sources report on Hungarian economy.


General Information for Investors

ITD Hungary invites bids to develop a competitive investment promotion strategy for the Zahony, North East Hungary
with an intermodal logistics center.


Hankook Tire Invests 230 Million Euros in Hungarian Unit to Double its Capacity

“The demand for our tires has been growing steadily and dynamically all over Europe,” said Jin-Wook Choi, Hankook Tire Executive Vice-President and COO in Europe.


FinMin Says ”We Don't Need IMF Money Any More,” PM Says ”We Must Grow Faster than the EU”

"…My expectation is that since Hungary is targeting the same track for the future, we won't need financial help," said Finance Minister Péter Oszkó to the Financial Times in an interview.


PRESS MONITOR

International news sources report on Hungarian business, government and economy.


The Monetary Council Reduced the Central Bank Base Rate to 6.00 Pct

The Monetary Council of the Magyar Nemzeti Bank reduced the central bank base rate by 25 basis points to 6.00 pct, in effect from 26 January 2010.


E.ON Földgáz Trade to Auction 1.075 Billion Cubic Meters of Gas on March 4

E.ON Földgáz Trade, the Hungarian unit of E.ON Ruhrgas International, will sell 1.075 billion cubic meters of gas in an auction on March 4.


Power Companies Boost Profit in the First 3Q 2009

Power producers, distributors and traders in Hungary generated pre-tax profit of HUF 176.9 billion (EUR 654.72m) in the first three quarters of 2009.


Real Earnings Fell by 2.4 Pct in January–November

Real earnings fell by 2.4 pct compared to January–November 2008, paralleled by a 4.1 pct increase of the consumer price index.


News Monitoring