Hungarian capital Budapest signs EUR 247 mln metro deal with Alstom as Russian appeal rejected
Budapest municipal authorities signed a EUR 247 mln contract Wednesday for 37 metro trains with Franco-Hungarian consortium Budapest Metropolis, led by French Alstom, after Hungarian public procurement authorities failed to uphold an appeal by runners up Wagonmash of Russia.
Confidence of Hungary's top 100 companies down in May on macroeconomic uncertainty
Confidence among Hungary's top 100 companies fell in May as concerns over macroeconomic imbalances and uncertainty surrounding the new Hungarian government's program spread caution in the market, according to a confidence index released by research group Ecostat Monday.
Germany's IVG Immobilien launches EUR 34 mln office development in Hungarian capital
German real estate developer IVG Immobilien AG said that the dynamic growth of the Budapest real estate market was a primary factor in its decision to launch a EUR 34 mln office building in the Infopark high-tech office hub where it held a groundbreaking ceremony for the project Wednesday.
Hungary's high current-account gap could lead to currency collapse - Economist Intelligence Unit
Hungary is facing solid GDP growth of 4.4% annually in 2006–2007, but rising domestic consumption, slow exports and buoyant foreign currency lending have resulted in a high current-account deficit that could possibly weaken the Hungarian currency to the point of collapse, according to the latest monthly forecast of UK-based think tank the Economist Intelligence Unit (EIU).
Hungary hopes to save up to HUF 100 bln by streamlining bureaucracy, property sell-offs
Hungary's new government is aiming to save up to HUF 100 bln by streamlining operations at its more than 800 institutions and selling off redundant property, government spokesman Andras Batiz told reporters Thursday.
