Hungarian parliament passes austerity package laws for higher VAT, new corporate & bank taxes
Hungary's parliament late Monday approved a package of tax and contributions hikes designed to shore up the budget's revenue side and help reduce the country's soaring budget deficit.
Parliament rejects public administration reforms
The Hungarian parliament failed to pass government reform measures Monday evening that would have seen significant cuts in the size of local governments and the county-level administrative system replaced by regional operations.
Hungarian government names members of eurozone Convergence Council
The Hungarian government on Monday named the three members of its new Convergence Council, which will prepare the country's adoption of the euro and which will include a former central banker, the head of pharmaceutical firm Richter and the CEO of accounting firm Deloitte.
Belgian car parts manufacturer THYCO investing HUF 140 mln in eastern Hungary
Belgian car parts manufacturer THYCO has started construction of a HUF 140 mln (EUR 500,000) plant in eastern Hungary, Managing Director Christian H.I. Holtappels said on Monday.
Procurement prices drive Hungarian PMI growth indicator in June, adding to inflation fears
The Hungarian Purchasing Managers' Index (PMI) - a general growth indicator - rose 1.1 percentage points in June to a seasonally adjusted 55.4%, as a strong increase in procurement prices suggested increasing inflationary pressure, according the Association of Logistics, Purchasing and Inventory Management (MLBKT) Monday.
