IMF, World Bank regard Hungary economy well after early repayment, consolidation, says Varga

Forrás: MTI | 2013. október 13. vasárnap 17:31 |Betű méret növeléseBetű méret csökkentése

The Hungarian economy received favourable assessment by the International Monetary Fund and the World Bank thanks to the government's early repayment of a 2008 loan and measures to consolidate the economy, Economy Minister Mihaly Varga said on Sunday.

Hungary received much attention from investors, too, Varga told MTI after attending the autumn annual meeting of the IMF and the World Bank in Washington.

The minister added that he had positive feedback regarding Hungary's economy at meetings on the sidelines of a session of the International Monetary and Financial Committee (IMFC) on Saturday, too.

Varga said he had met representatives of General Electric, a partner who has been hurt by measures targeting the banking sector in Hungary, but who will nevertheless face a favourable position in the production sector and other sectors of the economy.

The Hungarian state-owned Eximbank's AAA bond issue was unanimously well received, Varga said.

He said there was no lobbying regarding the government's banking tax.

"Although the government has kept the budget deficit below 3 percent of gross domestic product (GDP) last year, this year and expectedly next year as well, it believes that the banking tax is still an important source of revenue for the state budget," he said, adding that in the 2014 budget draft the amount of the banking tax remained level.

Orbán calls 8:1 soccer defeat "huge blow"

Forrás: MTI | 2013. október 14. hétfő 15:44 |Betű méret növeléseBetű méret csökkentése

Hungarian Prime Minister Viktor Orban said the 8:1 defeat of Hungary's national eleven at the hands of Holland on Friday was a "huge blow".

"I couldn't yet get over the failure," Orbán told index.hu. 

Orbán said he would have normally joined the spectators at the match but his talks with Christian Democrat International leaders in Budapest on Friday precluded this possibility.

National coach Sándor Egervári resigned after what was one of the three worst defeats in Hungarian soccer history.

Socialists, E14-PM call for change to election law

2013. október 03. csütörtök 21:22 |Betű méret növeléseBetű méret csökkentése

The opposition Socialists and the E14-PM alliance have called for Hungary's election law to be changed, arguing that the recent flawed election in Baja in the south of the country revealed severe shortcomings in the law.

Tamas Harangozo of the Socialists and Gergely Karacsony of E14-PM also demanded that the National Election Committee state its position in connection with the interim local elections at Baja, in which voters were bussed into a polling station in one of the wards.

The two lawmakers said on Thursday that loopholes in current regulations must be closed.

"The outcome of the 2014 election should be decided at the polls rather than in court," Karacsony said.

He cited witness accounts of a person delegated by the local council sending text messages from the voting station about people who turned up to cast their ballots. Karacsony said such activity seriously violated the principle of secrecy at the election. The parties expect the National Election Committee to ban the use of telecommunications devices by members of the vote counting committee, he said.

Hungarian tofu among best innovations at Anuga food fair

Forrás: MTI | 2013. október 07. hétfő 19:48 |Betű méret növeléseBetű méret csökkentése

A Hungarian-developed tofu made from spouted soy has been awarded among the best new innovations at the world's leading food fair Anuga in Cologne, Germany.

The competition dubbed trade13 chose the best new developments in ten categories and Hungary's non-GMO "Yaso" tofu has become an award winner in the Fine Food category.  

The Hungarian tofu has competed against some 1,200 products at the biannual Anuga fair, which features 6,777 exhibitors from 98 countries between October 5 and 9 this year.

Jeno Szilbereky, co-owner and managing director of Fitorex, the company that produces Yaso, told MTI that it plans to sell the production technology to countries in Asia and the Far East. Additionally, cooperation agreements are planned to be worked out for partners in Western countries, to supply base material for new products, he said.

Water Summit - Ban Ki-moon calls water common global cause

2013. október 08. kedd 19:40 |Betű méret növeléseBetű méret csökkentése

UN Secretary General Ban Ki-moon on Tuesday said it was convincing and impressive that so many nations were represented at the Budapest Water Summit.

All these countries have recognised that water is a common cause, the secretary-general told a press conference.

Hungarian President Janos Ader said mankind has reached the 24th hour to remind decision-makers of the world of their responsibility for the safe water supply of the generations to come.

"We should no longer knock at the doors of decision-makers with the intention of change. It is high time to pound on them," he said.

Ban Ki-moon highly appreciated that Ader had taken a stand for the significance of water. He said that Hungary was playing a key role in raising awareness of water-related issues in the wider world.

The UN Secretary General said that all countries had an interest in solving problems generated by the climate change. For this reason, he has convened a summit meeting for next September.

OTP Bank shortlisted in Croatian Postabank privatisation

2013. október 10. csütörtök 17:42 |Betű méret növeléseBetű méret csökkentése

Hungary's biggest lender OTP Bank is one of two potential buyers picked by the Croatian government to bid in the privatisation of the Croatian Postabank (HPB).

The other bank picked to make a binding offer is Austria's Erste Bank. The two have one month to submit their offers for the state's 99.13 percent stake in HPB.

In the first, non-binding round of bidding, OTP Bank offered 92.2-181 million euros for the stake. Erste Bank offered 130.2 million euros.

If Erste Bank acquires HPB, its market share will climb to 18.8 percent, making it the second-biggest player on Croatia's banking market.

OTP Bank acquired Croatia's Nova Banka in 2005. The bank, renamed OTP Banka Hrvatska, is the eighth biggest market player in terms of total assets.

Martonyi on Hungary's Foreign Policy Towards Slovakia

Timid, slow, hesitative and weak - this is how, according to former foreign minister Mr János Martonyi, the Hungarian cabinet responded to President László Sólyom being stopped from crossing the border of Slovakia on 21st August. The Hungarian head of state planned to unveil a statue of St Stephen in the predominantly Hungarian city of Komarno in Southern Slovakia.
Created: 1st September, 2009 10:05

The former foreign minister of Orbán's centre-right Fidesz government (1998-2002) said the Hungarian political elite "was probably surprised by the news of Slovakia stopping the Hungarian president from entering the country on 21st August". He added that a common political response had been lacking and a clearer and more categorical reaction would have been needed. The former foreign minister said he kept to his habit of not criticizing Hungary's diplomacy but he believed the response to the Slovak government's action was timid, slow, hesitative and weak.

"Had Hungary recalled its ambassador in Bratislava for consultation on that very day, it would have been a tough response to the Slovak action and today Mr Antal Heizer could have returned to Slovakia to reengage in a dialogue with the aim of starting a détente process", said Martonyi. This would have served both as a gesture and a message not only to the Slovak people but to Central Europe and the entire EU, he added, demonstrating that the Hungarian government wished to engage in a dialogue by all means, including bilateral.

Speaking about the preparations within Fidesz, the former foreign minister said the party would begin elaborating its foreign policy strategy this fall and the document would serve as a base for the party's election manifesto. Martonyi qualified the article appearing in the Magyar Nemzet daily hinting that he was the official Fidesz candidate for foreign minister as "speculation", recalling that the opposition party had a strict policy of not giving out positions a priori.

(fidesz.hu)