Hungary

Budapest''s oldest gorilla goes under the knife

GorillasLondon, Jan 17 : A gorilla in Hungary had to undergo a rare lifesaving s

Hungary says gas crisis gives European pipeline project a boost

Hungary says gas crisis gives European pipeline project a boost Budapest  - The ongoing gas supply crisis caused by the row between Ukraine and Russia over pricing could be provide a timely shot in the arm for the Nabucco gas pipeline project, Hungary's ambassador for the project said on Friday.

The planned Nabucco pipeline, favoured by the EU and the US, would bring gas from the Middle East and Central Asia through Turkey and the Balkans into Austria, cutting Russia out of the supply chain.

Bosch axes 250 jobs at Hungarian plant

Bosch axes 250 jobs at Hungarian plantBudapest  - The German engineering firm Bosch announced on Thursday that it is cutting 250 jobs at its largest Hungarian plant due to falling orders.

"Since the end of last year, Bosch's largest Hungarian automotive plant has been faced with ever smaller orders from its partners as a result of the crisis in the automotive industry that began last year," Zsuzsanna Kukaj, spokeswoman for Bosch Hungary, told the local news agency MTI

The job cuts will take effect in February. The number of shifts at the plant will be cut from four to three, Kukaj added.

Hungary lifts gas restrictions, offers help to Slovakia

Hungary FlagBudapest - Hungary has lifted its restrictions on domestic gas use, Energy Minister Csaba Molnar said on Thursday, despite its main supply route staying closed in the ongoing row between Ukraine and Russia over pricing.

Molnar also confirmed that the Hungarian energy company MOL is ready to deliver 1 to 1.5 million cubic metres of gas to Slovakia, if needed.

In addition, Hungary has offered to supply electricity to its northern neighbour, the minister said.

Hungary's recession is worse than we bargained for, says Gyurcsany

Hungary's recession is worse than we bargained for, says GyurcsanyBudapest - Hungarian Prime Minister Ferenc Gyurcsany said on Wednesday that the Hungarian economy could shrink by 2 to 3 per cent this year, a far deeper recession than recent government predictions suggested.

"This year, the economy could show negative growth of minus 2 to 3 per cent, rather than the minus 0.9 per cent entered in the 2009 budget," Gyurcsany said on a breakfast news show on state-owned Hungarian television.

Finance minister blames wild talk for plunging Hungarian currency

Finance minister blames wild talk for plunging Hungarian currency Budapest - The Hungarian Finance Minister Janos Veres said on Tuesday that there was no real justification for a recent tumble in the value of the Hungarian forint.

"The weakening of the forint was fundamentally influenced by misinformation over the past few days," Veres said at a meeting with the international press.

The forint was trading at a mid-market rate of 284 to the euro as the minister spoke on Tuesday morning, down from 266 on Friday.

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