GE to Cut Production, Lay Off Staff at Hungary Lighting Unit – extended

General Electric will cut production at its lighting unit in Hungary and lay off 500 of its 10,000 staff, the company's Consumer and Industrial division announced on October 30th 2008.


Industrial Producer Prices Rise 4.7 Pct Yr/Yr in September

Hungary's twelve-month industrial producer prices rose 4.7 pct in September, picking up from a 3.2 pct increase in August, the Hungarian Central Statistical Office (KSH) reported on October 30th 2008.  


Decathlon to Open Four More Stores in Hungary

French sporting goods chain Decathlon will open two new stores in Hungary next month and is planning to open a further two stores in the country next year. 


GKI Lowers 2008 GDP Growth Projection to 2.0 pct

Economic think tank GKI has lowered its forecast for Hungary's GDP growth to 2.0 pct from 2.7 pct for 2008, and to 0.5 pct from 3 pct for 2009, the think tank announced on October 26th 2008.


Hungarian Retail Sales Volume down 1.4 pct yr/yr in August

Retail sales volume in Hungary fell a calendar year-adjusted 1.4 pct yr/yr in August 2008, the Hungarian Central Statistical Office (KSH) reported on October 22nd 2008.

Construction of Waste Treatment Facility to Begin in NE Hungary

A consortium of the construction companies Vegyepszer, Ke-Viz 21 and Kozgep on October 20th 2008 laid the cornerstone for a HUF 1.7 billion (EUR 6.47 million) solid waste treatment facility at Nagyecsed (NE Hungary).


Hungarian Construction Magnate Demjan Launches First Russian State Lottery

The Hungarian construction magnate Sandor Demjan launched Russia's first state lottery with a number of the country's Olympic athletes - revenue from the lottery will support sport - at an event in Moscow's Ritz Carlton hotel on October 15th 2008.


PM Proposes Cutting Deficit Targets, Postpone Tax Cuts In Government Action Plan

Hungarian Prime Minister Ferenc Gyurcsány proposed cutting the 2008 as well as the 2009 fiscal deficit targets.


Aquaprofit, Proform Win Tender to Build Spa Hotel

A consortium of Aquaprofit and Proform has won a tender to build a 220-room four-star hotel.


Wizz Air Sees Double-Digit Cost Savings in Budapest Airport Cooperation

Hungarian low-fare airline Wizz Air expects a double-digit drop in costs as a result of a closer cooperation forged with Ferihegy Airport operator Budapest Airport, CEO Jozsef Varadi said at a press conference on October 13th 2008.


News Monitoring