http://bbj.hu Complete and independent daily business news from Hungary. en-us bbj@bbj.hu webmaster@bbj.hu PHP RSS Feed Generator The parent of China's Geely Automobile has secured financing to buy Ford-owned Volvo cars for about 15 billion Swedish crowns ($2.10 billion), a Swedish business daily reported on Wednesday. http://bbj.hu/?id=52023 2010-03-10T14:58:00Z http://bbj.hu/?id=52023 Hungary's economy could start growing in the second half of 2010, but it is likely to stagnate for the full year, analysts told MTI on Wednesday, after the Central Statistical Office (KSH) published a second reading of Q4 GDP data. http://bbj.hu/?id=52022 2010-03-10T14:12:00Z http://bbj.hu/?id=52022 The outlook of Hungary's biggest companies worsened slightly in February, while that of SMEs continued to improved, the latest measure of confidence by economic research institute Ecostat shows. http://bbj.hu/?id=52021 2010-03-10T13:27:00Z http://bbj.hu/?id=52021 US economists raised their forecast for economic growth in 2010 in March, the third straight monthly rise, while trimming their growth forecast for 2011, according to a survey released on Wednesday. http://bbj.hu/?id=52020 2010-03-10T12:28:00Z http://bbj.hu/?id=52020 Hungary's National Infrastructure Development Company (NIF) has issued a tender for construction of roads necessary to reach a planned MotoGP motorcycle track in the village of Sávoly near Lake Balaton, the latest issue of the Public Procurement Gazette reveals. http://bbj.hu/?id=52019 2010-03-10T11:24:00Z http://bbj.hu/?id=52019 Hungary's MKB Bank has raised its direct stake in MKB Romexterra Bank, its Romanian unit from 82.47% to 87.77%, MKB announced on the website of the Budapest Stock Exchange on Tuesday. http://bbj.hu/?id=52018 2010-03-10T10:07:00Z http://bbj.hu/?id=52018 Anheuser-Busch InBev, the world's largest brewer, is likely to buy the 50% it does not own of Mexican brewer Grupo Modelo this year for around $10.8 billion, said broker Evolution Securities. http://bbj.hu/?id=52017 2010-03-10T09:14:00Z http://bbj.hu/?id=52017 Six companies are expected to make binding offers for storied Hollywood studio Metro-Goldwyn-Mayer by a newly set March 19 deadline, a source familiar with the situation said on Tuesday. http://bbj.hu/?id=52016 2010-03-10T08:37:00Z http://bbj.hu/?id=52016 British bank Barclays Plc is looking to buy a retail bank in the United States to extend its presence after buying Lehman Brothers North American operations in 2008, the Wall Street Journal reported on Tuesday, citing people close to the matter. http://bbj.hu/?id=52015 2010-03-10T08:00:00Z http://bbj.hu/?id=52015 Sex.com, often touted as one of the most valuable Internet domain names, is due to head to the auction block next week. http://bbj.hu/?id=52014 2010-03-09T17:41:00Z http://bbj.hu/?id=52014 China, the world's biggest holder of foreign exchange reserves, renewed its commitment to the US Treasury market but said it would be wary of substantially boosting its gold holdings. http://bbj.hu/?id=52013 2010-03-09T16:54:00Z http://bbj.hu/?id=52013 Burger King Holdings Inc forecast US and Canada total revenue and restaurant margins in the third quarter would be below prior-year levels as adverse weather in the central and eastern United States kept diners away. http://bbj.hu/?id=52012 2010-03-09T16:52:00Z http://bbj.hu/?id=52012 German Chancellor Angela Merkel said a possible new fund to support euro zone countries that run into financial problems would not weaken European Union rules on budget discipline. http://bbj.hu/?id=52011 2010-03-09T16:02:00Z http://bbj.hu/?id=52011 European Union finance ministers will agree next week to phase out aid measures for banks, industries and the labor market that were introduced to fight the economic crisis, a draft statement showed. http://bbj.hu/?id=52010 2010-03-09T15:59:00Z http://bbj.hu/?id=52010 The Hungarian Investment and Trade Development Agency (ITD Hungary) and the Bács-Kiskun County Trade and Industry Chamber held a forum for potential Hungarian facility management partners for German car maker Daimler's plant in Kecskemét, ITD Hungary said. http://bbj.hu/?id=52009 2010-03-09T14:43:00Z http://bbj.hu/?id=52009 Deutsche Post DHL said a global economic recovery and cost cuts will help it boost its core profit this year and in 2011. http://bbj.hu/?id=52008 2010-03-09T14:41:00Z http://bbj.hu/?id=52008 The federal government will support Dubai as it grapples with a $26 billion debt restructuring and expects the matter to be resolved soon, the United Arab Emirates' finance minister said. http://bbj.hu/?id=52007 2010-03-09T13:53:00Z http://bbj.hu/?id=52007 German luxury carmaker Audi contributed the bulk of earnings and cash in 2009 to parent Volkswagen and expects better results this year as it launches a dozen new models, including the A1 subcompact. http://bbj.hu/?id=52006 2010-03-09T13:50:00Z http://bbj.hu/?id=52006 Oil and gas explorer Leni Gas and Oil has decided to divest its Hungarian assets, the energy website oilvoice.com reported. http://bbj.hu/?id=52003 2010-03-09T12:47:00Z http://bbj.hu/?id=52003 Hungarian construction company Nemzetközi Vegyépszer has won a tender to build infrastructure and public facilities in Libya worth about €300 million, the company said. http://bbj.hu/?id=52002 2010-03-09T12:46:00Z http://bbj.hu/?id=52002 The United States would not have any standing to bring a case against Chinese Internet restrictions to the World Trade Organisation, a Chinese adviser on WTO strategy said in an opinion piece. http://bbj.hu/?id=52005 2010-03-09T11:42:00Z http://bbj.hu/?id=52005 Britain's sovereign credit profile has deteriorated but the country was still within tolerance of a triple-A rating, Fitch Ratings said. http://bbj.hu/?id=52004 2010-03-09T11:40:00Z http://bbj.hu/?id=52004 Sony Corp will launch 3D televisions in June, entering an increasingly crowded market that is betting the revolutionary TV will become the next hot product in the electronics industry. http://bbj.hu/?id=52001 2010-03-09T10:40:00Z http://bbj.hu/?id=52001 Toyota Motor Corp said it had found no flaw with its throttle controls as it seeks to dismiss an external study critical of its electronic safety systems. http://bbj.hu/?id=52000 2010-03-09T10:37:00Z http://bbj.hu/?id=52000 All universal service providers have submitted their requests, as promised, to receive authorization for raising their prices, the Hungarian Energy Office (MEH) said. http://bbj.hu/?id=51999 2010-03-09T09:19:00Z http://bbj.hu/?id=51999 Intesa, the parent company of CIB Bank finds that the terms of the IMF rescue-loan agreement for Hungary will only be met through further austerity, requiring the new government elected at the April general elections to renegotiate the deficit clause with the Fund. http://bbj.hu/?id=51998 2010-03-09T09:16:00Z http://bbj.hu/?id=51998 Oil and gas industry equipment manufacturer DKG-EAST Olaj- és Gázipari Berendezéseket Gyártó Zrt is planning to commence a HUF 582-million investment, building a 3,600-square-meter add-on to its base in Nagykanizsa. http://bbj.hu/?id=51997 2010-03-09T08:06:00Z http://bbj.hu/?id=51997 The European Commission (EC) is looking to revoke HUF 10 billion in support funds from Hungary, the EC claims that the country has included as deductible expenses certain non-eligible items. http://bbj.hu/?id=51996 2010-03-09T08:04:00Z http://bbj.hu/?id=51996 German carmaker Daimler was selling its entire stake in India's Tata Motors to raise up to $429 million worth of shares, sources familiar with the matter said. http://bbj.hu/?id=51995 2010-03-08T17:40:00Z http://bbj.hu/?id=51995 McDonald's Corp reported a 4.8% rise in February sales at established restaurants as strong overseas results offset softness in the United States, sending its shares up nearly 2%. http://bbj.hu/?id=51994 2010-03-08T17:39:00Z http://bbj.hu/?id=51994 Portugal became the latest euro zone country to announce austerity measures to rein in a ballooning budget deficit as bond markets eased pressure on debt-stricken Greece after a French pledge of EU help. http://bbj.hu/?id=51993 2010-03-08T16:41:00Z http://bbj.hu/?id=51993 The European Union has yet to evaluate its Lisbon Strategy, which expires this year, but it should build on the lessons of the previous ten years to form its new 2020 Strategy, Hungarian minister without portfolio in charge of the Chancellery Csaba Molnár said. http://bbj.hu/?id=51992 2010-03-08T16:38:00Z http://bbj.hu/?id=51992 Hungary's budget deficit hit 40% of the full-year projection in the first two months of the year, which analysts said highlights risks over the attainability of this year's deficit target. http://bbj.hu/?id=51991 2010-03-08T15:33:00Z http://bbj.hu/?id=51991 The tender announced by Hungary’s state motorway operator ÁAK Zrt to find a contractor managing the collection of unpaid motorway fees has been won by Goldex-Hungary Kft. http://bbj.hu/?id=51990 2010-03-08T15:31:00Z http://bbj.hu/?id=51990 Hungarian logistics company Bau-Trans Kft is planning to invest a total of HUF 2.5 billion in 2010 upgrading its vehicle fleet, the company’s boss Zoltán Papp told business daily Világgazdaság. http://bbj.hu/?id=51989 2010-03-08T14:23:00Z http://bbj.hu/?id=51989 A revision to the standing civil code will shortly introduce class action lawsuits to the Hungarian legal system and already has a number of nongovernmental interest groups revving up to start the proceedings, the daily Népszabadság reported. http://bbj.hu/?id=51988 2010-03-08T14:22:00Z http://bbj.hu/?id=51988 Toyota Motor Corp's president said he believed that sales in North America could recover in March after a sharp decline last month when the automaker suspended sales of some recalled models. http://bbj.hu/?id=51987 2010-03-08T13:14:00Z http://bbj.hu/?id=51987 Kraft Foods is being investigated by British regulators on whether the company misled employees and investors in its battle to take over Cadbury, the Wall Street Journal said, citing people familiar with the matter. http://bbj.hu/?id=51986 2010-03-08T13:13:00Z http://bbj.hu/?id=51986 Hungary would benefit from the introduction of the euro, but only after “the operation of the economy became normal and the exchange rate stabilized”, former head of the European Monetary Institute Sándor Lamfalussy said on a program of the Hungarian state television channel M1. http://bbj.hu/?id=51985 2010-03-08T11:56:00Z http://bbj.hu/?id=51985 The government and the prime minister have both passed a resolution on the measures and tasks necessary to the implementation of phase one of the European Union's Extreme Light Infrastructure (ELI), a HUF 100 billion (€376.25 million) super laser project to be hosted jointly by Hungary, Romania and the Czech Republic, both resolutions were published in the latest issue of the official gazette Magyar Közlöny. http://bbj.hu/?id=51984 2010-03-08T11:53:00Z http://bbj.hu/?id=51984 The Hungarian development bank MFB will sign the HUF 15.3 billion (€57.58 million) credit contract for the planned motorcycle racetrack near Lake Balaton if all conditions regarding the credit and the collaterals are in order as judged by the bank and its legal advisors, Economy Minister István Varga said. http://bbj.hu/?id=51983 2010-03-08T10:40:00Z http://bbj.hu/?id=51983 Hungarian construction company TriGranit would like to sell 50% of the Bonarka City Center shopping center it opened in Krakow, Poland last year, the business daily Világgazdaság reported, citing TriGranit investment director Zsolt Szabó. http://bbj.hu/?id=51982 2010-03-08T10:37:00Z http://bbj.hu/?id=51982 The Hungarian state has earmarked a guarantee budget of HUF 20 billion to support bank loan constructs that folded as a direct cause of the economic crisis, the dailyNépszabadság reported. http://bbj.hu/?id=51981 2010-03-08T09:22:00Z http://bbj.hu/?id=51981 Central Europe continues to play a significant role on the industrial real estate map, and despite the rebalancing of the global economy, the market saw a number of major transactions, property consultant Cushman & Wakefield said in a press release. http://bbj.hu/?id=51980 2010-03-08T09:21:00Z http://bbj.hu/?id=51980 Budapest businesses have begun to throw their weight behind a staggering charity fund-raising challenge that will see two local expats tackle five-and-a-half marathons in six days in the furnace of the Sahara desert. http://bbj.hu/?id=51979 2010-03-08T08:08:00Z http://bbj.hu/?id=51979 RWE expects to seal a deal with Turkmenistan on gas supplies for the EU-backed Nabucco pipeline project in coming months, and a deal with Azerbaijan is seen following, an executive with the German energy firm said. http://bbj.hu/?id=51978 2010-03-08T08:06:00Z http://bbj.hu/?id=51978