Hungary

Police arrest two suspects in murder of Roma couple

Budapest - Hungarian police arrested two men in connection with the murder last year of a Roma couple in the the southern city of Pec, the locla media reported Saturday.

US electronics firm cuts 900 jobs as Hungarian recession deepens

Jabil CircuitBudapest - The US-based circuit board manufacturer Jabil Circuit is to lay off 900 workers at its plant in Hungary, the firm revealed on Wednesday.

Jabil, which currently employs some 4,000 in Hungary, told the local news agency MTI that its decision was due to falling orders.

The news came the day after Hungary's official economic statistics office forecast that 105,000 jobs would be lost this year.

Of these, 12,000 will be in the automotive sector and 10,000 in construction. Anna Adamecz, a department head at Ecostat, said that 60 per cent of redundancies will be due to falling demand in export markets.

Let non-members into euro faster, Hungarian premier says

Ferenc GyurcsanyBrussels  - The European Union should ease its rules to allow new members to swap their national currency for the euro more rapidly, Hungary's prime minister said Tuesday.

"The best protection against foreign-exchange problems is to join the eurozone ... We should see how the steps towards the euro could be made quicker," Ferenc Gyurcsany told journalists in Brussels.

In particular, countries which have met the EU's strict rules on inflation and budget discipline should be allowed to join the single currency without having to spend two years in the preparatory Exchange Rate Mechanism 2 (ERM 2), he said.

Central bank holds high interest rates on fears over weak currency

HungaryBudapest  - The Monetary Policy Council of Hungary's central bank announced on Monday morning t

Hungary premier vows to double nuclear power output

Hungary premier vows to double nuclear power output Budapest  - Hungary's Prime Minister vowed on Monday to double power production at his country's sole nuclear power plant, in the wake of January's gas spat between Russia and Ukraine.

Ferenc Gyurcsany cited improving Hungary's energy security situation as he urged lawmakers in the Budapest parliament to back his scheme to expand the plant at Paks, the country's only nuclear reactor, this year.

Analysts said the expansion could only be funded by foreign investors, as the government is currently in dire financial straits.

Crisis Hungarian tax reform package revealed

Crisis Hungarian tax reform package revealed Budapest  - Hungary's socialist government presented a new tax package to parliament on Monday which it hopes will make the country one of the most competitive in the region.

Corporate tax will be raised from 16 to 19 per cent, but because a "solidarity" tax on company profit will be scrapped, the de facto rate will fall from 20 to 9 per cent.

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