Budapest- Prime Minister Ferenc Gyurcsany on Friday canceled a trip to two Gulf kingdoms to focus on Hungary's financial crisis and economic slowdown.
Gyurcsany and a Hungarian business delegation had planned to travel to Oman and Qatar for two days starting Tuesday. No new dates were set, the prime minister's office said.
Budapest - Hungary's national bank sharply raised interest rates Wednesday in an emergency bid to defend the country's currency, which has slumped as a result of the global financial crisis.
The bank's policy-making council boosted the key rate to 11.5 per cent from 8.5 per cent at an unscheduled meeting in Budapest, a central bank statement said.
The forint has plunged in recent days as concern about the liquidity of Hungarian banks soured investors on the Central European nation's already ailing economy.
Budapest- Hungarian authorities are investigating the disappearance of a German man who is believed to be the victim of an axe murder.
According to authorities, the 72-year-old man had lived in Hungary for 12 years. His last residence was in Balotaszallas, 150 kilometres south of Budapest.
The German was allegedly hacked to death by a 20-year old Hungarian in a murder-robbery. The Hungarian then allegedly burned the body parts.
Washington - The International Monetary Fund (IMF) is investigating possible abuse of power by its head, Dominique Strauss- Kahn, in connection with a sex liaison with an underling of Hungarian origins, the Wall Street Journal reported Saturday.
The 59-year-old French economist and socialist, married to French television journalist Anne Sinclair, was named last year as IMF director.
Budapest- Hungarian Prime Minister Ferenc Gyurcsany on Saturday called for a "national pact" to combat the effects of the ongoing financial crisis before a meeting of national leaders.
"Hungary is navigating in the middle of a storm in rough waters," Gyurcsany said at a meeting of past and present leaders and politicians.
Gyurcsany's plan seeks national consensus for a plan to bring Hungary into the eurozone, finance pensions in the future and reform the public finances.
Budapest- Prime Minister Ferenc Gyurcsany on Friday canceled a trip to two Gulf kingdoms to focus on Hungary's financial crisis and economic slowdown.
Budapest - Hungary's national bank sharply raised interest rates Wednesday in an emergency bid to defend the country's currency, which has slumped as a result of the global financial crisis.
Washington - The International Monetary Fund (IMF) is investigating possible abuse of power by its head, Dominique Strauss- Kahn, in connection with a sex liaison with an underling of Hungarian origins, the Wall Street Journal reported Saturday.
