NewsLetter

Budget deficit HUF 63 bln in September, lower than expected

Hungary's cash-flow based consolidated state budget deficit was HUF 1,059.5 bln at the end of September, some HUF 30 bln lower than the expected HUF 1,088.1 bln, the finance ministry announced. The deficit amounts to 4.75% of GDP.

Hungary's online advertisement market expands by 40% in Q2

Based on market leaders' sales figures, total revenues of the Hungarian online advertising market have grown 40% to HUF 993 mln (USD 4.7 mln) in Q2, according to the online advertisement index (OHI) published by Hungary's largest portal site [origo].

US's El Paso exits power plant JV with steel group Dunaferr

US-based El Paso Corporation announced in a statement that it will sell its 50% stake in Hungarian power generation complex EMA-Power Kft for USD 39 mln to Hungary's largest steel group Dunaferr, which will thus become the 100% owner of EMA-Power.

Budapest Bank's corporate division sharpens focus on SMEs - lending up 20%

Budapest Bank (BB), the Hungarian subsidiary of the GE Money Bank Group, recorded 20% growth in lending to small and medium-sized enterprises in the first nine months of 2005, and plans to tighten its grip on the SME segment by launching new products in the coming period, company officials said.