Hungary

Key Hungarian opposition party: Former finance minister for premier

Key Hungarian opposition party: Former finance minister for premier

Hungarian president says early elections best solution

Hungarian president says early elections best solution Budapest - Hungarian President Laszlo Solyom on Wednesday joined the call for early general elections in Hungary.

The EU country has been in a state of political turmoil since Saturday, when Prime Minister Ferenc Gyurcsany announced he would stand down to make way for a new government.

Solyom told state television on Wednesday that only early elections can bring about a stable Hungarian government with the necessary power to act.

2ND ROUNDUP: Search for prime minister continues in Hungary

Search for prime minister continues in HungaryBudapest  - Hungary's Prime Minister Ferenc Gyurcsany announced on Tuesday evening that the Socialist Party leadership had drawn up a shortlist of three potential candidates for his replacement.

He named the banker and former finance minister Gyorgy Suranyi, the historian and former head of the Hungarian Academy of Sciences Ferenc Glatz, and Andras Vertes, head of the economic research

institute GKI.

"The MSZP leadership recommends that official consultations should begin with and about these three candidates," Gyurcsany said.

ROUNDUP: Search for prime minister continues in Hungary

Search for prime minister continues in Hungary Budapest  - Hungary was awash on Tuesday with speculation over who will fill Prime Minister Ferenc Gyurcsany's shoes if, as promised, he departs on April 14.

Gyurcsany announced on Saturday that he would step down to allow a new leader with broader popular and political support to tackle Hungary's ever deeper financial crisis.

His governing Socialist party continued talks with its former coalition partner, the liberal Alliance of Free Democrats, and also met the conservative Hungarian Democratic Forum.

Hungary's central bank holds base rate at 9.5 per cent

HungaryBudapest  - The Hungarian National Bank opted to maintain its high base rate of 9.5 per cent at a meeting of its Monetary Policy Council on Monday.

The bank said in a statement that the decision was a response to worsening economic conditions and a need to maintain stability and the value of the national currency.

The decision was announced after a morning of wild swings in the value of the forint, when it weakened to 307 against the euro before firming slightly.

This volatility came two days after Prime Minister Ferenc Gyurcsany's surprise announcement that he was ready to step down.

BP to employ 1,000 at new Hungarian service centre

BP to employ 1,000 at new Hungarian service centre Budapest - British Petroleum (BP) plans to set up a service centre in Budapest that could create about 1,000 new jobs, Hungary's Minister for Development and Economy, Gordon Bajnai, said Monday.

Bajnai noted that, although some 30,000 jobs have been lost in Hungary since October, around 12,000 new jobs had been created, the state news wire MTI reported.

Vodafone and IBM have both recently announced new service centres to be opened in Hungary.

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