OECD urges Hungary to tighten fiscal policy
The Hungarian government must tighten fiscal policy, said Val Koromzay, director of the OECD, in a joint press conference with Hungarian finance minister Janos Veres on Tuesday. The press conference marked the release of the OECD's 2005 economic survey of Hungary.
EBRD to lend EUR 32 million for M6 motorway construction
The European Bank for Reconstruction and Development (EBRD) will co-finance the construction of the new 58 km section of Hungarian motorway M6, the EBRD announced Tuesday. The project will receive an EUR 32 million loan from EBDR, while the total cost, an earmarked EUR 480 million, will be co-financed by Bayerische Landesbank, Commerzbank, KBC Finance Ireland, MKB, K&H Bank, as well as Kreditanstalt fur Wiederafbau.
Stock exchange chief urges creation of pension investment scheme by 2006
Attila Szalay-Berzeviczy, chairman of the Budapest Stock Exchange (BSE), has urged the government to pave the way for the introduction of a pension savings account – the so-called "fourth pillar" of the pension system – in an open letter addressed to the prime minister on Wednesday.
Budapest office take up 66,000 sqm in Q2
Take up in the Budapest office market reached 66,000 sqm in the second quarter of 2005, representing an increase of 55% when compared to the same period last year, according to the latest figures released by real estate agents CB Richard Ellis (CBRE) on Wednesday.
Swisscom declared winner of Antenna privatization tender with HUF 46.8 billion offer
Swisscom Broadcast AG has been declared the winner of the privatization tender for the sale of a 75% plus one vote stake in Hungarian national broadcaster and telecom company Antenna Hungaria Rt (AH), after submitting the highest bid of HUF 46.76 billion (USD 229 million), privatization agency APV revealed on Thursday.
