NewsLetter

Tesco's Hungarian revenues up 16% in 2005, 12–14 new stores before year-end

UK-based retail chain Tesco recorded net sales revenues of HUF 176 bln (USD 267 bln) in Hungary in the first half of 2005, up 16% from the same period last year, Tesco announced on Tuesday.

Hungarian–Russian intergovernmental committee to broaden economic ties

Monday marked the inaugural meeting of the Hungarian–Russian Economic Cooperation Intergovernmental Committee, where the two sides discussed current bilateral economic issues and managed to reach agreement on several open questions, the committee's co-chairmen Hungarian economy minister Janos Koka and Russian IT and telecom minister Leonid Reiman announced.

Finance ministry rejects IMF recommendation to float currency

The Hungarian government will not abandon its current exchange rate regime in favor of floating the currency, despite the recommendation of the International Monetary Fund (IMF) to do so, the finance ministry said in a statement.

IMF calls on Hungary to enact

Hungary has moved from being a "star" performer to one of the slower growing economies among the new EU member states, according to the findings of an International Monetary Fund (IMF) Staff Visit to Hungary concluded during the week.