NewsLetter

Internet revenues in Hungary rise 37% in 2005 to HUF 62 bln on increased broadband use

Hungarian Internet use and the number of broadband connections continued to increase last year, outpacing other segments of the telecom sector, and resulting in significant revenue growth from internet services of 37.7% year on year (y/y) in 2005 to HUF 62 bln, statistics published by the Central Statistical Office (KSH) show.

Fourth largest Hungarian bank CIB increases net income 13% in 2005 on year

Hungarian CIB bank, owned by Italian Banca Intensa, recorded 13% growth in net income year on year (y/y) to HUF 18.6 bln in 2005 while maintaining its position as the fourth largest bank on the Hungarian market in terms of net assets, reported CEO Laszlo Torok at a press conference in Budapest on Monday.

Hungarian energy firm MOL forms consortium to create CEE's first geothermal power plant

Hungarian energy giant MOL announced Monday that it has teamed up with Australian and Icelandic partners to build a pilot geothermal power generator to test pans for what would be the first geothermal power plant in Central and Eastern Europe which would boost renewable energy use by utilizing Hungary's exceptional reservoirs of thermal water.

Hungary's foreign trade deficit narrows to EUR 2.84 bln in 2005 as exports outpace imports

Hungary's foreign trade deficit came in at EUR 180.2 mln in December 2005 and totaled EUR 2.84 bln for 2005 as a whole, according to revised data released by the Central Statistical Office (KSH). The December deficit was marginally better than the preliminary figure of EUR 189 mln released on February 9, which in turn beat the consensus forecast of EUR 266 mln.