Search Results for: Hungarian

BY ZSOLT BALLA

IT may not be the easiest way to make a living – as it nowhere is – but even amidst the ongoing economic crisis, Hungarian truck drivers seem better off than their average east European peers. Those who work hard can make decent money, and, given the usual pessimist attitude of Hungarian people, drivers talking to Commercial Motor were surprisingly positive.…

By Zsolt Balla

It was just over a year ago, on 15 September, 2008, when the European Institute of Innovation and Technology (EIT), the EU’s flagship initiative to boost Europe’s competitiveness on a highly globalised battlefield of development and innovation, held its constituent meeting in Budapest, Hungary, its future headquarters.…

BY KEITH NUTHALL

THE SIZE of the planned international investment in Ukraine’s gas distribution system has been revealed in a European Bank for Reconstruction & Development (EBRD) memorandum: up to US$3 billion maybe pumped in. Money would start flowing with a US$300 million working capital loan from the EBRD for purchasing gas, repayable after this winter heating season.…

BY KEITH NUTHALL

THE WHITE knight deal – sweetened by around Euro 4.5 billion (US$6.5 billion) in German government subsidies – to transfer control of Opel-Vauxhall to a Canadian-Russian consortium, is under fire. Britain’s business secretary Lord Mandelson has advised that alternative agreements are sought to save the ailing GM-controlled car maker, calling for a "commercially-based outcome rather than one determined by political intervention and subsidies".…

BY KEITH NUTHALL

INTERNATIONAL talks are underway to secure Ukraine funding to pay Russia for natural gas to ensure deliveries to Europe can be guaranteed this winter.

The European Commission, the International Monetary Fund (IMF), the World Bank, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) have been meeting with Russian and Ukraine officials to head off a repeat of last winter’s supply crisis.…

BY KEITH NUTHALL

THE UKRAINE government has secured a major loan package designed to secure its reliability as a winter suppler of gas to Europe through improving its gas storage and distribution. The European Commission welcomed the deal, which it helped broker.…

BY KEITH NUTHALL

THE EUROPEAN Union’s (EU) RAPEX consumer alert service has warned of another dangerous candle product designed to look like a sweet treat: in this case nine candles in various forms imitating pastries. They were made in China and were detected and withdrawn from sale by Hungarian consumer authorities.…

BY ALAN OSBORN

The European Commission has added three new items to its lists of quality food products with protected designation of origin (PDO) and protected geographical indication (PGI) rights, namely Hungarian salami – "Budapesti téliszalámi," Polish cheese – "Wielkopolsky ser sma?ony"…

BY KEITH NUTHALL

THE DEPENDENCE of the European Union (EU) on imports to meet oil supply needs will rise to 95% by 2030, a European Parliament report has claimed. This will expose the EU to strategic dangers through buying oil from unstable or potentially hostile countries in the Middle East and from Russia, it warned.…

BY KEITH NUTHALL

THE EUROPEAN Commission has announced it wants Euro 3.5 billion of the general European Union (EU) economic recovery plan it announced in November spent on energy investment. It has proposed spending Euro 1.75 billion on gas and electricity interconnection projects; Euro 500 million on offshore wind power; and Euro 1.25 billion on carbon capture and storage.…