Government

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.


Hungary Protects Her Genuine Wine Brand Name

Hungary's government decided on 13th August 2008, to make international legal steps in order to protect the genuine Hungarian wine brand, "Tokaji". The name is bonded to the Northern Tokaj region and Hungarian oenologists claim that the geographical environment makes the local product inimitable. Italian rivals refuse the argument insisting on their interpretation that the brand name is only tied to a certain type of grape.


State Investment Agency Looks for Alternative Sites for Apollo Tyres Plant

The Hungarian Investment and Trade Development Agency (ITDH) has started looking for sites for a new EUR 200 million factory which India's Apollo Tyres wants to build in Hungary, the Ministry of National Development and Economy said on August 15th 2008.


Hungary Q2 GDP Grew by 2.1%

Hungary's second-quarter gross domestic product (GDP) grew by an unadjusted 2.2% and a calendar-year adjusted 2.1% from the same period a year earlier, according to a first estimate by the Central Statistics Office (KSH) and its research arm Ecostat, published on August 16th 2008. KSH noted that the preliminary figures have a margin of error of +/- 0.2 percentage points.


R&D Office Announces Tenders for HUF 6 Billion in Grant Money

Hungary's National R&D Office announced on August 14th 2008 tenders for a combined HUF 6 billion in grant money available over the next three years for commercially useful R&D projects.


Government to Discuss Tax Cuts at August 21st 2008 Cabinet Meeting

The government will discuss tax cuts at a cabinet meeting on August 21st, Finance Minister Janos Veres said in an interview published in Monday's issue of the economic daily Vilaggazdasag.


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.


Hungarian Television Starts Test Digital Broadcasts

Hungarian Public Television started test digital broadcasts on one of its channels, M2, on August 1st 2008, becoming the first television company in Hungary to start using the technology.


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