Foreign investment in first six months

In the first half of 2004, a total Ђ422m was invested by foreign companies in Hungary through the Hungarian Investment and Trade Development Agency (ITDH).

Base rate cut by 50bps

The Monetary Council of the National Bank of Hungary Rt (MNB) has cut the central bank base rate by 50 basis points, from 11.5 per cent to 11 per cent, in line with expectations.

MFB supports SMEs development

The national development bank (MFB) has shed its loss-making centralised past and has become a strong financial institution solely concentrating on developing businesses and cooperating with commercial banks, according to its CEO Jбnos Erфs.

Business outlook improving - Ecostat

Large companies were a little more cautious about their economic outlook in June, but SMEs remained optimistic, according to a survey prepared by economic research institute Ecostat.

New Faktor reports 2003 results

CIB Bank's newly-acquired factoring company, CIB Faktor, announced profits after-tax of HUF230,000 (Ђ915) in 2003 and year-end total assets of HUF5.441bn (Ђ21.64m).