The European Commission launched an investigation Thursday into the largely state-controlled Hungarian power generation sector following suspicions that current purchasing practices contravene EU rules on state subsidies.
Szerző(k): NAPI OnlineThe European Commission (EC) admonished the Hungarian government for its excessive budget deficit on Thursday and cast doubt on whether the country will be ready to adopt the European single currency in 2010.
Szerző(k): NAPI OnlineUS-based El Paso Corporation announced in a statement that it will sell its 50% stake in Hungarian power generation complex EMA-Power Kft for USD 39 mln to Hungary's largest steel group Dunaferr, which will thus become the 100% owner of EMA-Power.
Szerző(k): NAPI OnlineHungary has moved from being a "star" performer to one of the slower growing economies among the new EU member states, according to the findings of an International Monetary Fund (IMF) Staff Visit to Hungary concluded during the week.
Szerző(k): NAPI OnlineKazincbarcika-based chemical producer BorsodChem (BC) and German-owned industrial gas producer Linde Gaz have concluded an agreement with the economy ministry on government support for a combined EUR 135 million investment project currently carried out by the two companies.
Szerző(k): NAPI OnlineIn a statement released on Wednesday, the European Commission (EC) praised Hungarian efforts to correct the 2005 budget deficit but voiced concerns that the deficit target of 3.6% of GDP won't be achieved without further steps.
Szerző(k): NAPI OnlineOn 15 June 2005, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Hungary, the IMF announced Wednesday.
Szerző(k): NAPI OnlineThe office vacancy rate in Budapest has fallen to 14% in the first quarter of 2005, its lowest level since 2000, says a new report issued by property advisors CB Richard Ellis (CBRE).
Szerző(k): NAPI OnlineHungary is losing out to regional competitors as new businesses arriving in the region choose destinations other than Hungary, while companies already here are leaving for more lucrative alternatives, concludes a study by consultancy firm KPMG.
Szerző(k): NAPI Online
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