Economic Risk in Hungary and Other Countries Spooking Investors
Matthew Bandyk

Despite federal spending consuming 27.2 percent of GDP, the United States maintains a Aaa rating. But you can't say the same about Hungary and many other countries in both the developed and developing world where continued fallout from the economic crisis is hurting their credit ratings. As a result, investors have viewed the economic situations in these countries as increasingly risky bets.

Hungary snatches Audi deal from US contender
Audi is planning to make autos from start to finish in Gyor western Hungary which explains the groups recent acquisition of an empty lot in June Portfolio Hungary reported. With the addition of a new site Audi is stepping up activities in Gyor which currently include engine manufacturing and auto assembly.Once...

ZTE to build network for Telenor unit in Hungary
Chinese telecommunications equipment maker ZTE said it would build a mobile network for Telenors unit in Hungary Portfolio Hungary reported.ZTE will build a network using second- third- and fourth-generation LTE technology over the next five years.ZTE did not disclose the value of the deal but the Financial Times said it...

Hungary to raise Robin Hood tax rate extend it to telecoms
Hungarys centre-right government is planning to extend an existing levy on energy companies to the telecoms sector next year and also raise its rate to 10% from eight% Portfolio Hungary reported. The paper said citing unnamed sources that the so-called Robin Hood tax on the energy sector which puts some...

TVK operating profit climbs in Q2
TVK the petrochemicals unit of Hungarian oil and gas company MOL broke even on revenue of HUF 89.2 billion in the second quarter after booking a HUF 4.7 billion loss in the same period a year earlier the companys consolidated IFRS report showed on Budapest Business Journal reported. TVKs revenue...

Raba wheels out axel ambition
Hungarian automotive group Raba has on July 13 announced the launch of a complex European Union-funded multi-year innovation programme that is expected to double the volume of its axle production by 2015 Portfolio Hungary reported. The €1.5 million three-year project to be carried out via the companys newly established Rába...

Malev could realistically break even in a few years
Hungarys national carrier Malev could realistically break even at operating level in two-three years but how this will happen can only be said after a complete evaluation of the airlines situation is completed by 20 July Attila Marton government commissioner in charge of air travel said Budapest Business Journal reported....

NATO looks for Hungarian radar love
Admiral Giampaolo Di Paola president of NATOs Military Committee said on Friday in Budapest after meeting with leading Hungarian military officials and politicians that he was 110% satisfied Hungary would resolve the question of where the radar will be located. Chief of Staff of the Hungarian military Tibor Benko said...

New law for local elections passed
Hungarys parliament passed a local election law on Monday that cuts down the number of local representatives and shortens campaigning time. It also voted to choose a new National Elections Committee prior to each general election. Under the new law local elections offices have been charged with setting the actual...

Malev inquiry launched on arrears
Minister of National Economy Gyorgy Matolcsy has launched an immediate investigation of APEH President János Szikoras alleged role in halting collection of tax arrears from Hungarian national airline Malev in 2008 Budapest Business Journal reported. Matolcsy intends to conclude the investigation within a week the ministry said. Szikora halted collection...

Malev restructuring to cost HUF 50 bln
It could cost the government at least HUF 50 billion €178.66 million to settle the position of 95% state owned Hungarian national carrier Malev and implement its recently approved three-year strategy Budapest Business Journal reported. Similar conclusions can be drawn from the auditor Deloittes report enclosed with the companys annual...

GTS Central Europe to acquire Interware
GTS Central Europe has signed a sales purchase agreement to acquire Interware Kft. The deal is still subject to regulatory approval Budapest Business Journal reported. With the acquisition of Interware the joint companys market share at the Hungarian data center market will grow to 7.5%. GTS will also gain strategic...

Booze beats financial crisis
Hungarys Borsodi brewery had pre-tax profit of HUF 4.3 billion in 2009 a big improvement over a HUF 1 billion loss in 2008 communications director Ildiko Stefankovits said Budapest Business Journal reported. Revenue fell 6% to HUF 40.6 billion in 2009 because of the crisis. The brewerys market share...

Dalkia Energia makes more from less
District heating and electricity supplier Dalkia Energias revenue fell 3% to HUF 47.6 billion in 2009 but operating profit climbed 11% to HUF 5.55 billion Budapest Business Journal reported. Dalkia Energia sold HUF 5 438 TJ of heat energy in 2009 about the same as in 2008. Its electricity sales...

Pannon Tools to build new plant in Gyor
Tool manufacturer Pannon Tools plans to build a 3 000 square-meter plant in Gyor Budapest Business Journal. The greenfield investment of HUF 400 million is to improve productivity by implementing a more concentrated production process and up-to-date technologies. At the same time the company is closing down its old plant...

Germans to lift Hungary
As a result of manufacturing programmes scheduled to be moved from Germany elevator producer Schmitt AG is to triple its production capacity in Hungary Portfolio Hungary reported. Schmitt AG manufactures various kinds of lifting devices including simple small goods elevators to passenger lifts and heavy duty elevators as well as...

Hungary OTP Bank to take out €200 million syndicated loan
OTP Bank Hungarys largest bank by assets plans to borrow €200 to fund its business Budapest Business Journal reported. The two-year syndicated loan will pay interest at 130 basis points more than the Euro interbank offered rate EURIBOR the banks said in a statement. Credit Agricole CIB Erste Group Bank...

TEVA receives sterile support
Teva Pharmaceuticals the worlds leading generic drugs producer and developer has been granted €5.36 millionstate aid for its €65 million new plant to be built in Hungary. The new facility will create 260 jobs. The groundbreaking ceremony of the project was held on 14 January. The first stage of the...

Helping hand from Mad Bomber
The Mad Bomber hat company in the USA has decided it would like to offer everyone in Iceland one of its warm hats this coming winter at roughly cost price or $10. Why? To apologize for the American Wild West Banking which helped bring the countrys economy to its knees. Chairman...

Increased funds for bank failure investigation
The office of Icelands Special Prosecutor into the banking crisis will receive and extra ISK 470 million $3.5 million this year and ISK 960 million investment next year and the year after. The total amount being spent on Olafur Thor Haukssons investigation has therefore increased significantly and the investigation is...

Hungary sends liquid assets to Chinese market
Hungarian mineral water bottler Ave is ready to enter the Chinese market after acquiring all of the necessary permits sales director Bela Nagy said Budapest Business Journal reported. The first shipment of about 36 700 bottles has already arrived in Tianjin and would be delivered to buyers after they pass through...

Audi accelerates at Gyor
Audi Hungaria Motor Kft produced 428 708 engines in Q1 43 percent more than in Q1 2009 Budapest Business Journal reported. It manufactured 10 354 cars up 36% year on year. Its output of cars almost halved last year while engine production declined by 27%. The serial production of Audis...

Turk Telekom to start talks to buy Hungarys Invitel
Turk Telekom will start exclusive talks to acquire central European data capacity and services firm Invitel International as it looks develop to develop its data operations unit Portfolio Hungary reported. Invitel Holdings A/S has announced today that it has agreed to commence exclusive discussions with Turk Telekom regarding the acquisition...

Heineken Hungária sees products lifting revenue
Brewer Heineken Hungaria targets revenue growth of 4 5% in 2010 after an increase of under 1% in 2009 Budapest Business Journal reported. Heineken Hungária had net revenue of HUF 47 billion in 2009. Sales volume fell 6% to 1 993 000 hectoliters in 2009 slightly less than the 8%...

EU approves electricity producers compensation in Hungary
The European Commission has announced the authorization of an aid scheme to compensate power generators for certain costs resulting from the termination of long term power purchase agreements PPAs in Hungary Portfolio Hungary reported. The Commission concluded that the compensation will not exceed what is necessary to recoup the shortfall...

€200 mil to boost Dunamenti power plant by 10%
A new turbine and generator built in the G3 block of the Hungarian gas-fuelled power plant Dunamenti Eromu previous week will increase the capacity of the block from 215MW to 400 MW. The €200 million project which will become operational next year will boost the power plants full capacity by...

Ascent Resources pulls out of gas well project
Ascent Resources plc the AIM-traded oil and gas exploration and production company through its wholly owned subsidiary Ascent Resources Italia srl ARI has announced pulling out of the PEN-106 well in the Peneszlek area of the Nyirseg permits in Hungary Portfolio Hungary reported. The project Partners have made the...

MVM to buy into E.ON companies
The Hungarian Electricity Works MVM is expected to acquire ownership in three local electricity suppliers of Germanys utility giant EON in mid-2010 MVM CEO Imre Martha said Portfolio Hungary reported. This and similar subjects are to be addressed at the Portfolio - HVCA CEE Corporate Finance and Private Equity Conference...

Syngenta revenue falls 4% in 2009
The Hungarian units of Switzerland-based agribusiness company Syngenta generated revenue of HUF 38.9 billion in 2009 down four percent from 2008 Syngenta seeds marketing director Janos Biro said Budapest Business Journal reported. Biro said that Syngentas Hungarian units generated 58% of their 2009 revenue through sales of pesticides and 42%...

Orco raises another 7.1 million euros
Following the capital increase of 6.1 million euros that Orco Property Group SA announced previous week Orco has announced raising another €7.1 million saying new investors have expressed interest to participate in a second capital increase Portfolio Hungary reported. Orcos Board of Directors approved a private placement of € 7.1...

GySEV freight unit to begin operations this summer
GySEV Cargo the freight unit of jointly state-owned Austro-Hungarian regional railway company GySEV will likely begin operations in the middle of the summer Budapest Business Journal reported on 9 April citing GySEV Zrt communications director David Stockert. GySEV established its freight unit with registered capital of HUF eight million last...

Malev losses swell to HUF 25 bn in 2009
Hungarys recently renationalized airline Malev accumulated after-tax loss of over HUF 25 billion in 2009 markedly up from HUF -14 billion incurred in 2008 Portfolio Hungary reported early last week. The carrier incurred an operating loss of HUF 14 billion last year it learned. Zoltan Kamaras Chairman of Malevs Board...

MOL-INA team completes financial pledge to Energopetrol 
A consortium of Hungarian fuels group MOL and its Croatian subsidiary INA has transferred 48 million euros to Energopetrol for the upgrade of the filling station network of their joint venture in Bosnia-Herzegovina Portfolio Hungary reported early last week. Energopetrols CEO has confirmed the receipt of the sum 95 million...

Bosch to boost RD capacity with 34 mln euros investment
Motor parts marker Bosch Group the second-largest foreign employer in Hungary is expanding its research development capacity in Budapest in a HUF 9 billion 34 million euros investment project. The program spanning from 2008 to 2012 is to create 200 jobs for innovation engineers Portfolio Hungary reported on 23 March....

GE to create 100 jobs in Hungary
General Electric is to turn one of its Hungarian manufacturing sites into a Global European Centre of Excellence. The Oroszlany plant is looking at a capacity boost and its staff is to be increased by nearly 100 by the end of 2010 from the current 500 Portfolio Hungary reported on...

MAV abandons plan to split group into different companies
Plans to split up the MAV group into a passenger-transport and a rail-track company have been removed from the companys agenda MAV CEO Miklos Andrasi said in an interview Budapest Business Journal reported early last week. Andrasi noted that the state-owned railway company reduced its 2009 losses by HUF 29 billion...

Huawei plants to enter production phase soon
Chinese telecommunications equipment manufacturer Huawei is gearing up for the opening of two new assembly and logistics plants in Hungary later this year Portfolio Hungary reported early last week. Currently in a test phase the new units in Pecs and Komarom are expected to generate $1.5 billion worth of products...

MOL makes discovery in Akri-Bijeel block in Kurdistan
Hungarian oil and gas group MOL has made a discovery in Akri-Bijeel Block in Kurdistan Region of Iraq. The testing results are promising it said in a statement on 10 March Portfolio Hungary reported.  The Bijell-1 well tested during a short test 3 200 bbl/d 18°API oil and 933 000...

Vegyepszer seals 300 mln Euro mega deal in Libya
Hungarian construction firm Vegyepszer has won an order worth HUF 80 billion from Libya. The domestic construction sector has not sealed a foreign deal of this magnitude for decades Portfolio Hungary reported on 9 March. Vegyepszer won a 300 million Euro contract by the northern Libyan town of Az-Zawiyah to...

Magyar Telekom eyes Romanias Siveco to boost IT
Hungarian telecoms group Magyar Telekom is in talks to take over Romanias Siveco in a bid to further enhance its IT services Portfolio Hungary reported on 1 March.  High language and IT skills coupled with low costs makes Romania a new haven for outsourcing such as call centres help desks...

Spar Hungary turnover up 6.2% yr/yr in 2009
The Hungarian unit of Austrian retail chain Spar generated consolidated sales of HUF 397.3 billion in 2009 up 6.2 % year on year. According to the parent companys data Spar Hungary posted 1.47 billion Euro turnover last year 4.7 % more in Euro terms than in the base period Portfolio...

Elextrolux Lehel revenue declines 8.8% in 2009
Electrolux Lehel the Hungarian unit of Swedish white-goods maker Electrolux generated revenue of HUF 177.5 billion 658.42 million euros in 2009 down 8.8 % from 2008 unit managing director Janos Takacs said on February 23 Budapest Business Journal reported. Takacs said Electrolux Lehel targets revenue of HUF 210 billion in...

Synergon Q4 profits fall 32% as margin narrows
Hungarian IT company Synergons fourth-quarter net profit fell 32 percent to HUF 207 million from the same period a year earlier as revenue dropped at a faster rate than costs the companys consolidated IFRS report showed on February 23 Budapest Business Journal reported.Revenue dropped 12 percent to HUF 5.467 billion...

Pannon GSM to lay off 250 people
Telenor unit Pannon GSM Hungarys second-biggest mobile telephone service provider plans to lay off 250 people including 200 employees and 50 contracted workers the company said early last week Portfolio Hungary reported. Mobile voice and data provider Pannon part of Telenor Group one of the worlds largest mobile operators has...

Dutch-owned investor to build HUF 7 bln hotel
Dutch-owned Hungarian company Grontmij Canor plans to build a HUF seven billion four-star hotel in Siklos Budapest Business Journal reported on 16 February. Grontmij Canor has bought a plot for the hotel for HUF 120 million from the local council. It plans to open a 200-room hotel and a shopping...

Alpiq to build 370 million euros CCGT plant
The Hungarian unit of Switzerlands largest energy services provider Alpiq is to build a 400 megawatt capacity plant in Csepel near Budapest in a 370 million euros investment project by 2015 Alpiq Csepel Kft. CEO Gabor Briglovics said on February 1 Portfolio Hungary reported. Alpiq Csepel renamed from Atel Csepel...

Deal signed with Russia over planned gas pipeline
The state-owned Hungarian Development Bank set up a joint venture with the Russian energy giant Gazprom in Budapest on 29 January laying the groundwork for the construction of the local stretch of the planned South Stream gas pipeline official said. Russia hopes South Stream - seen as a rival to...

Mid-Europa completes bid for Hungarys Invitel
Mid Europa Partners has announced on 25 January that it has completed its tender offer to purchase any and all of the outstanding ordinary shares par value 0.01 euros per share Invitel Shares and any and all of the American Depositary Shares each representing one Invitel Share Invitel ADSs of...

MAV state railway orders 80 mln Euro Bombardier
Hungarys state-owned railway company MÁV has placed an order with Bombardier Transportation for 25 Bombardier Traxx P 160 locomotives valued at about 80 million euros USD 112 million Portfolio Hungary reported early last week. The contract also includes an option for a further 25 locomotives. The delivery of the first...

RD projects worth 45 mln euros underway
Hungary is to be the host of two research and development projects in the vehicle industry that will bring HUF 12 billion 44.8 million euros to the country and create more than 200 jobs Portfolio Hungary reported on 19 January. There are two RD capacity boosting projects underway in the...

EBRD to acquire stake in Hungarian wind farm
European Bank for Reconstruction and Development EBRD said its board of directors approved an equity investment up to 125 million Euro in the form of capital increases in Iberdrola Renovables wind farm units in Hungary and Poland Port folio Hungary reported on 18 January. Pending the completion of legal documentation...

From the Nile to the Yangtze: Sailing the world's great rivers
The life-blood of civilizations and natural wonders, rivers are one of the best ways to explore the world's most spectacular scenery.

Wall Street: Bring on the profit reports
Stocks closed higher Monday, recovering from earlier weakness, as optimism about corporate results due this week outweighed ongoing concerns about the economy.

Ireland, Hungary raise fresh concerns
Fresh concerns over Europe's debt problems surfaced Monday after Ireland's debt rating was downgraded and talks between Hungary and the International Monetary Fund reached an impasse.

War crimes suspect averts extradition from Australia
A man wanted in Hungary for the torture and killing of a Jewish teenager during World War II averted extradition Friday after an Australian federal court ruled in his favor, an Australian news agency reported.

Dow drops 324 points as euro sinks
Stocks slumped Friday after a government report showed employers added fewer jobs than expected last month and the euro plunged to a new 4-year low, reviving worries about the health of the European economy.

Markets go on a Hungary strike
Just when we all got used to referring to Europe's fiscal crisis with the tidy little acronym of the PIIGS, another European country is angling for admittance into the bad debt club.

Center-right Fidesz party sweeps to victory in Hungary
Hungary awoke Monday to a new political landscape after the center-right opposition Fidesz party took decisive election victory, ending eight years of Socialist rule.

Center-right crushes ruling Socialists in Hungary vote
Hungary's center-right Fidesz party won a sweeping victory in the first round of parliamentary elections Sunday, crushing the ruling Socialists in a country battered by the global economic recession.

Soros: In revolutionary times the impossible becomes possible
From the mid-1980s, Hungarian-born investor and philanthropist George Soros pumped hundreds of millions of dollars into foundations in Eastern Europe dedicated to promoting the idea of the "open society" and challenging the region's Soviet-backed regimes. Since then his Open Society Institute has evolved into a network of foundations and offices working in over 60 countries. Here, writing exclusively for CNN.com, he describes how the work of his foundations ultimately contributed to the collapse of communism.

Taking the plunge in Budapest
In Budapest, Hungary's vibrant capital, you can sample spicy paprika at the Great Market Hall (designed by Gustave Eiffel), sip coffee in a genteel turn-of-the-20th-century cafe and enjoy an affordable performance at the luxurious Opera House.

Thousands flock to D.C. for Cherry Blossom Parade
Thousands of visitors lined Constitution Avenue in Washington on Saturday morning for the annual National Cherry Blossom Festival Parade.

From the next Berlin to the new Acropolis museum
From the Czech Republic to Greece, the eastern part of Europe is changing so fast that you could visit every year and feel as if you've experienced something completely new.

2 killed in Hungary school shooting
A principal and teacher were killed Wednesday when a masked gunman opened fire in a private elementary school in Budapest, Hungary's capital city, police said.

Hungary: 4 Dead, 26 Injured in Train Collision
A local passenger train ran into the back of an long-distance train Monday near Budapest, killing four people and injuring 26

Eastern Europe: What's now
Forget lists of "What's Next" in travel. Eastern Europe is "What's Now." While it's catching up to the West -- becoming more modern, expensive and crowded -- Eastern Europe remains a great value. Here's what to expect this year.

Cuba slams Hungary for granting asylum to migrants
Cuba branded Hungary an "imperial accomplice" of Washington on Wednesday for granting political asylum to 29 Cubans who were held at the Guantanamo Bay U.S. naval base.

Hungary braces for more protests
Hungarian police said Wednesday that hard-core football hooligans had hijacked peaceful anti-government protests, but Prime Minister Ferenc Gyurcsany blamed opposition parties for a second night of violence.

Your e-mails: Hungary Riots
Early Tuesday, protesters across Hungary clashed with police and in Budapest stormed the headquarters of state television, responding with violence to a leaked recording that caught the countries prime minister admitting the government "lied morning, evening and night" about the economy.

Hungary police brace for more protests
Hungarian police said that hard-core football hooligans had hijacked peaceful anti-government protests but Prime Minister Ferenc Gyurcsany blamed opposition parties for a second night of clashes between rioters and police, saying they had failed to deliver on a pledge to calm protests.

Hungary: Rioters attack TV station
Protesters seized the headquarters of Hungary's state television network and set fires in and around the building early Tuesday after the country's prime minister admitted lying about the economy "throughout the past one and a half or two years."

Today's Buzz stories
Thieves in Hungary have stolen some tapes of the BBC's new prime-time series "Robin Hood," stalling completion of some of the 13 episodes, the broadcaster said.

Where the dollar is still king
As the dollar continues its slide against the euro - down almost 6 percent this year to a 1 year low - Americans thinking of traveling abroad might look beyond Paris, Rome or Madrid to destinations where the U.S. dollar remains strong.

Hungary plane crash: 42 dead
Recovery efforts continued Friday at the site of the crash of an AN-24 Slovak military plane, which was carrying 43 passengers when it crashed in the rugged terrain of northern Hungary.

Get involved: Europe
Send us your tips, words, photos and videos to thescene@cnn.com, or text "SCENE" plus your comments to +44 7786 20 40 60. Remember to include your name and the city/country where you live.

Best investments 2005: Bonds
Junk and foreign bonds beat going long. Risk: High-yield debt is more tied to economic ups and downs.

Powell to Hungary: Stay the course
U.S. Secretary of State Colin Powell thanked Hungary on Tuesday for the "steadfastness" of its commitment to the coalition in Iraq, saying now is not the time to get "weak in the knees" despite continued violence and kidnappings.

European Quest: Your views
For two weeks, Richard Quest and his team are traveling around countries about to join the European Union on May 1. We asked for your views. The following are a selection of your e-mails.

Our European Quest
Our trip started in Hungary, but we flew to the Austrian capital Vienna and drove across the border because it was a lot easier than flying anywhere else.

Hungary at Europe's crossroads
Folk-dancing nights in Budapest are a weekly event for Istvan Pal and his fellow musicians -- a reflection of the Hungarians' strong identification with their distinct language and culture.

Hungarian Rhapsody AN UNEXPECTED ECONOMIC REVIVAL
Four years ago, the Hungarian economy was deep in crisis: Inflation was rampant, unemployment was rising, and trade and government deficits were mounting. Making things even worse was the fact that...

HERE'S A LESS RISKY WAY TO TAP SIZZLING FOREIGN MARKETS
The world's developing markets are suddenly as hot as the midday Brazilian sun. Mexican equities are up 15.6% so far this year (to Feb. 20), double the return for U.S. shares. Other Dow beaters inc...

FUNDS RUSH TO CASH IN ON EASTERN EUROPE'S BOOM
Lured by spectacular gains in markets such as Russia (up 105% in the first eight months of this year), Hungary (86%), Poland (77%) and the Czech Republic (26%), several new mutual funds have sprung...

THREE RISING STARS IN CENTRAL EUROPE
After six years of false starts, hardship, and loud public skepticism, Central Europe's three main economies have emerged from the Russian bear's shadow and look sustainably bullish. The Czech stoc...

The market that fears no news, what Khrushchev didn't do, Gouldism on the march, and other matters. GETTING IT WRONG
One regrets the recurrent temptation, thus far irresistible around our house, to argue with E.D. Hirsch Jr., professor of English at the University of Virginia. His basic proposition is sound. One ...

EASTERN EUROPE IS ONE HOT MARKET
-- From the Baltic to the Black Sea, Eastern Europeans are loading up on merchandise bearing U.S. brand names like Kodak, Kellogg's, Band-Aids, Rice-a- Roni, SlimFast, and Purina Cat Chow. Warsaw s...

GET AN AUSTRO-HUNGARIAN PORTFOLIO ON THE CHEAP
Of all the emerging Eastern bloc nations, none has a brighter future than Hungary. This peppery land of goulash and bauxite has taken to economic freedom with a vengeance. Within the last year or s...

WHO'S WHO IN THE EAST In Eastern Europe, the people to know are both colorful and energetic. ! Want to meet the Clark Gable of f
Business is always personal, but especially so in Eastern Europe, where daunting bureaucracy and changing ground rules can spook even veteran investors from abroad. In such a climate, knowing the r...

NEW LIGHT IN EASTERN EUROPE? Amid the economic chaos that followed the crash of Communism come signs of emerging entrepreneurshi
A NERVOUS SOBRIETY has set in across Eastern Europe. Two years after the Iron Curtain came crashing down, the region's experiments with capitalism might, to some eyes, seem an excellent advertiseme...

POLAND'S GAMBLE BEGINS TO PAY OFF The Poles have achieved remarkable results in the first stages of their rush toward a free-mar
FOR POLAND this may be the most dangerous summer since 1939. While their Soviet neighbors fiddle, the gutsy Poles are switching from Communism to capitalism in one stroke. But their boldness has al...

GLASNOST'S HARVEST: JEANS THAT NEED A SCREWDRIVER, AN ANGEL FOR BORIS, AND MORE
-- The red star and the Cyrillic writing on the back pockets and an accessory in the form of a free screwdriver mark a hot new seller: cotton jeans ($60 and up) from the Soviet Union. The screwdriv...

HOW TO MANAGE IN THE NEW ERA Seizing global opportunities requires exploring more options -- and acting faster -- than ever. Her
Are you up to the challenge? Beware. Leading the vanguard of global investors doesn't necessarily make for restful nights. When Swedish ball-bearing maker SKF plunged into Russia, its dream of prof...

WHO GAINS FROM THE NEW EUROPE Almost everybody does -- and there's opportunity aplenty for deals. The combined GNP of East Germa
WITH THE FALL of the Wall and the lifting of the Curtain, Western managers and investors must rethink their strategies for doing business in Europe in the 1990s. Suddenly the Old World has gained a...

TOWARD A NEW ERA OF POSSIBILITIES
The historic events in East Berlin and Moscow, Warsaw, and Budapest provide the most dramatic evidence yet that the Cold War is over and we have won. Socialism is on the run, and democratic capital...

IRON CURTAIN MBA
Move over, Karl Marx. Hungary's premier university has dropped Das Kapital from its required reading list. And, this month, the reform-minded Magyars are launching the East bloc's first MBA program...

SIGNALS
Bright young comrades will soon be receiving their MBA degrees from Karl Marx University in Budapest. Eager to adopt the West's business acumen, Hungary recently asked the University of Tennessee t...

Hungary's capitalist crusade
The tax man has sneaked behind the Iron Curtain and is emphatically not getting any Red carpet treatment. On January 1, Hungary became the first Soviet bloc country to impose a personal income tax ...

Hot money haven
If Switzerland is no longer a safe home for dubious dough, what is? Believe it or not, the hot new haven is Hungary. In the past year Switzerland has frozen the accounts of deposed despots Ferdinan...

Hungary, Class of '56
A remarkable number of top U.S. executives will mark the 30th anniversary of Hungary's brief revolt against Soviet domination on October 23: They are veterans of the uprising. Within weeks of the 1...

Hungary’s Central Bank Head Blamed for Its Crisis
Hungary’s new prime minister, who is bucking the trend of austerity in Europe, is laying blame for economic contraction on the head of its central bank.

Webber Wins Hungarian Grand Prix, Taking Lead in Standings
Mark Webber of Red Bull took back the Formula One drivers’ championship lead from Lewis Hamilton after a victory in the Hungarian Grand Prix.

Massa Returns to Budapest Under a Cloud
Instead of a fairy-tale return from a horrific accident last year, Felipe Massa is back at the Hungarian Grand Prix with a more sordid problem: his teammate.

Hungary Is Sued Over Large Holocaust Art Claim
In what experts call the world’s largest unresolved Holocaust art claim, the heirs of a banker have demanded that Hungary return art that they say is theirs.

Hungary Resists New Budget Cuts Despite Pressure
Markets in Budapest were rattled after the government insisted that it would not impose further austerity measures this year despite pressure from its international creditors.

Hollywood on the Danube
Offering low labor costs, experienced crews and a 20 percent rebate on film production, Budapest is luring foreign film companies away from other European capitals.

Hungarian Leader Announces 29-Point Budgetary Plan
Viktor Orban introduced a mix of cost-cutting and tax measures Tuesday, including cuts in public-sector wages and new levies on banks, to reassure jittery investors.

Hungary Disclaims Comparisons to Greece
Pledging fiscal sobriety, officials distanced the country from dire assessments of its economy.

European Stocks Follow Asian Markets’ Decline
Investors reacted to more tremors from Europe and fears for the strength of the U.S. economic recovery.

Hungary Is Playing Political Games on Debt
Hungary’s new leader is finding it impossible to satisfy both voters and international investors on debt issues.

Hungary Warns of Greek-Style Crisis
Economists said the comments by officials appeared to have been politically motivated to tarnish the previous Socialist government.

Growing Budget Deficit Haunts Hungary
Hungary suffered badly in the economic downturn and has struggled with its debt, two years after a $20 billion loan to avoid default.

Socialists in Hungary Are Ousted in Elections
The Fidesz party, which ran on a promise to restore “law and order” and pull Hungary from recession, won 263 of the 386 seats in Parliament.

Hungarian Winner Vows Battle Against the Far Right
Hungary's incoming prime minister, Viktor Orban, vowed to defend the country from the ascent of a far-right party and its black-clad paramilitary branch.

Hungarian Right, Center and Far, Make Gains
The center-right opposition party won first-round parliamentary elections on Sunday, while a far-right party made significant gains.

New Candidates For Mayor Of Budapest Officially Registered
"Only Fidesz’s István Tarlós and Socialist Csaba Horváth have officially registered as candidates for mayor of Budapest ahead of today’s 4 p.m. deadline.

Chinese Man Suspected In Hostel Murder In Budapest
"A Chinese man who studies in Budapest is suspected by police of murdering Pernilla Marie Thronsen, the Norwegian woman whose body was found at a youth hostel on Sunday evening.

Hungary’s Far-Right Wants To Round Up Roma In Camps
"Hungary’s leading far-right party said on Wednesday that Roma who are considered a threat to public safety should be forced from their dwellings and placed in highly-controlled camps, some of them for life."

Former Hungarian MNV CEO, Sales Chief Arrested
"Police detained Miklós Tátrai, former head of the state asset manager MNV, and former sales manager Zsolt Császy on suspicion of wrongdoing related to the Sukoró casino project.

New Canadian Ambassador Appointed For Hungary
"The Honourable Lawrence Cannon, Canada's Minister of Foreign Affairs, announced the following diplomatic appointment: Tamara Guttman becomes Ambassador to the Republic of Hungary, with concurrent accreditation to the Republic of Slovenia and to Bosnia and Herzegovina. Ms. Guttman succeeds Mr. Pierre Guimond.

Old Bomb Found On Szabadság Tér In Budapest
"Some 1,800 people were ordered to leave their homes and offices on Szabadság tér when a World War II bomb was found near the US embassy on Monday.

Hungary's Fidesz Set For Sweeping Victory
"More than half, 61%, of decided voters will support Fidesz in the upcoming local elections, according to a poll conducted by the conservative Nezopont Institute for weekly Heti Valasz.

US Embassy, Other Buildings Evacuated In Budapest After WWII Bomb Found At Construction Site
"A spokesman says the U.S. Embassy in Budapest has been evacuated after a WWII bomb was found at a nearby construction site. Bradley Hurst says the building on Szabadsag Square in the city centre was evacuated around noon (1000 GMT) on Monday but that the embassy expects to reopen for business on Tuesday."

Hungary PM Says IMF Is Lender, Not Econ Policy Guide
"Hungary's Prime Minister Viktor Orban said on Monday that it was in the country's interest to sign loan agreements with the IMF if necessary but it was not in the country's interest to have economic policy agreements with the Fund."

Hungarians Indiffferent To EU
"Only 38% of Hungarians consider EU membership a good thing, according to a poll by Eurobarometer. Most respondents, 45%, said it was neither good nor bad, while 15% were against EU membership

Iraqi Students Training At NATO Course In Szentendre, Hungary
"Hungary is hosting a NATO course for Iraqi students on how to respond to home-made explosive devices.

Bank Employee In Budapest Caught As Bank Robber
"A bank employee who has robbed seven banks in Budapest since January was caught by police plainclothesmen on Wednesday as he was preparing to carry out his eighth robbery on Kálvin tér.

Majority Satisfied With Hungarian Cabinet So Far
"Support for Fidesz has dropped slightly but continues to be considerable, according to the latest Median poll. The Fidesz-Christian Democrat alliance has 63% support among decided voters, the Socialists 17%, Jobbik 14% and LMP 5%.

Fireworks Victims In Budapest Paid Ft 128 Million
The government has reached out-of-court settlements to a total value of over Ft 128 million with victims of the storm that struck the August 20 fireworks display in 2006, Public Administration and Justice state secretary Róbert Répássy told reporters.

Hungarian Police Catch Suspects Of Four Murders
"Pest county police have captured five people suspected in the 2009 murders of a jeweller in Százhalombatta, his tenant, and a Vietnamese couple, it was announced yesterday.

Hungary To Be Represented By Economy Minister At The IMF
"The Hungarian government will be represented by Minister of Economy György Matolcsy as the governor of IMF representing Hungary.

U.S. Ambassador Eleni Tsakopoulos Kounalakis’ Statement of Condolence
"We are saddened by the news from Afghanistan about the death of a member of the Hungarian military and the wounding of several others during a convoy attack. My heart goes out to the family members of the fallen soldier. I also hope that those who were injured will recover fully.

Hungary Is The 33rd Best Country In The World To Live In
"Hungary is 33rd in the ranking of the world’s best 100 countries, a comprehensive list compiled by Newsweek that ranks the states in five categories (health, education, quality of life, economic dynamism and political environment). Finland was crowned "Best country in the world", followed by Switzerland and Sweden. In regional comparison, Hungary is in the second third in the ranking.

French Students Attack Teacher In Budapest
"Police have launched proceedings against three French students who assaulted their teacher on Döbrentei tér in the First District, early Monday evening.

Hungary's Fidesz Activist Stabbed
"Fidesz activists collecting nomination forms for the local elections were stabbed and robbed in the 13th District Tuesday evening, according to a police statement.

Take A Dip Into Budapest
"It had been exactly 10 years since I last visited Budapest. I had travelled on the night train with three other friends who I’d been teaching with in Prague as part of a gap year. We were reaching the end of our time abroad — and the end of our tether when it came to dealing with each other on a 24/7 basis."

Four Taken Off Eindhoven Flight In Budapest
"Four passengers were removed from a Wizz Air flight bound for Eindhoven shortly before it was due to take off from Ferihegy airport Sunday evening.

Hotels & Motels In Budapest: Advanced Emerging Markets
"The Hotels & Motels: Advanced Emerging Markets (Brazil, Hungary, Mexico, Poland, South Africa, Taiwan) Industry Guide is an essential resource for top-level data and analysis covering the Hotels & Motels industry in Brazil, Hungary, Mexico, Poland, South Africa, and Taiwan."

Jet2.com Announces New Summer 2011 Route From Edinburgh To Budapest
"Jet2.com, has announced significant new investment in Edinburgh airport today with the launch of a new route to Budapest and additional flights to the popular holiday resort of Majorca. Jet2.com will be the only airline in Scotland to run flights to Budapest three times a week during peak season. Flights will begin in 21st April with fares starting from just £29.99 one-way including taxes."

Budapest Airport: Passenger Information
"Budapest Airport is operating normally at the present time and all passengers are requested to arrive early to avoid any last minute stress and also clear security screening in plenty of time. During the peak summer months, you are requested to arrive a minimum of 2 hours before your flight.

Twenty-Five Years Of The Jumbo Jet At Budapest Ferihegy
"The very first Boeing 747-230B, operated by Lufthansa, landed in Hungary a little over 25 years ago, ushering in a new era in the history of Ferihegy Airport, as the presence of the giants nicknamed ‘Jumbo Jet’ elevated the airport of Budapest into the company of modern and sizeable airports.

Weekly Hotels Top Five Of Five - Hungary
"This week sees the start of the Sziget Festival in Budapest, a huge music and cultural festival expected to attract 390,000 people. Budapest itself is no stranger to tourists - nearly 2.9 million visited in 2009 according to Euromonitor, making it the 38th most visited city in the world."

New Fee Introduced For Visitors To US
"Hungarians and other foreigners wishing to travel to the US will have to pay a $14 fee to fill in forms online via the Electronic System for Travel Authorisation from September 8.

Hungarian Gov’t Sticks With Current Malev CEO
"The cabinet has confidence in Malev CEO Martin Gauss, whose role is to carry out the instructions of the airline's owners to the best of his ability, including on the reshuffled board, of which Gauss is a member, the National Development Ministry told Nepszabadsag.

Malev Sale On Budapest Flights
"The carrier is offering the promotion to mark the forthcoming match between England and Hungary at Wembley on August 11th, which will be the home team's first international game of the 2010-11 season."

Budapest Ferihegy Failed Security Audit – Márton
"Ferihegy airport has been downgraded to the “unclear” category after objects that should have been screened passed through security checks in an undercover EU audit, air traffic ministerial commissioner Attila Márton said at a government press conference yesterday.

Escape From Budapest To The Black Sea Riviera
The Helios Palace hotel at Sunny Beach - the largest resort on the Black Sea Riviera - is a stand-out choice for an enjoyable holiday in Bulgaria. This place works well for anyone with or without kids, scoring highly for setting as it's only a short walk through the attractive grounds to the well kept beach. There are plenty of water sport activities available at reasonable prices, for relaxing you'll find big parasols and beach beds.

Airport Thieves Caught In Budapest
"Police at Ferihegy have caught three members of airport staff suspected of stealing cash and jewels from baggage.

Lower Operating Costs At Malév – Passenger Numbers Maintained At Last Year’s Level
"In the first six months of 2010 Malév's passenger traffic was similar to that of the same period in 2009, with a total of 1.3 million customers flying on the carrier's services. Even though there was no increase, still the number of passengers reflects an improvement in efficiency because it managed to achieve the same result with 16% fewer flights and increased the average load factor by 3.5%. The airline also cut its costs by a significant amount - 16.6 million Euros - in the first half of this year compared with the January-June 2009 figure.

French ATC Strike, Normal Air Traffic At Budapest Airport
"Air traffic controllers in France have decided to go on a 24-hour strike on Wednesday. As a result, the schedule of flights between Budapest and Paris will probably be affected, some flights might be canceled, but there will be flights between Budapest and Paris.

Faster Passenger Service At Malév Hungarian Airlines
"Malév has successfully launched Amadeus DCS (Departure Control System), which provides benefits for both passengers and staff since through the use of this advanced application the airport management of travellers is simplified and speeded up.

Hungarian Hotels Argue For Lower Taxes
"The Hungarian hotel association has sent a seven-point suggestion to the government to induce growth in their industry.

Arrive To Budapest Airport Minimum 2 Hours Before Flight
Dear Passengers, due to increased summer traffic we kindly request you to arrive to the airport at least 2 hours prior to departure since long queues might develop at the passenger security control.

A Five-Star Airline Is Now Coming To Budapest Airport
"Qatar Airways is launching a flight to Budapest. The renowned five-star airline will fly four times a week between Budapest and Doha, the capital of Qatar, from January 2011. For onward journeys, passengers will be able to reach numerous Asian and Australian destinations with just one stop after departing from Budapest.

More Guests At Hotels, But Prices Drop In Budapest
"Occupancy rates and other indicators have shown improvement for Hungarian hotels in the January-May period from the previous year, but this came at lower prices, according to the Hungarian Hotel Monitor.