T-Mobile to spend HUF 30 billion on 3G developments this year
Hungary's largest mobile provider T-Mobile expects to spend some HUF 30 billion (USD 147 million) this year on developing its 3G mobile network, a sum that also includes license fees, CEO Andras Sugar announced.
Corporate, retail interest rates mostly decline in April
Corporate and retail interest rates declined for the most part in April, movements that were most likely determined by a 25 bp base rate cut by central bank MNB during the month, according to data released by MNB.
Elcoteq moves European headquarters to Budapest
Finnish electronics firm Elcoteq will establish a regional administration center in Budapest from July 1, effectively moving its European headquarters to Budapest from Finland's Espoo.
S&P downgrades Hungary's local currency rating to
Standard & Poor's Ratings Services said Friday that it lowered its long- and short-term local currency sovereign credit ratings on the Republic of Hungary to "A-" and "A-2," from "A" and "A-1," respectively, due to the country's weakened fiscal outlook and poor prospects for medium-term fiscal consolidation.
Central bank lowers end-2005 inflation target to 3.3%, end-2006 target to 3.2%
Hungary's central bank MNB has slightly lowered its inflation forecasts for both 2005 and 2006, following favorable core inflationary developments in the past months, as well as favorable core inflation forecasts for the coming period.
