MONETARY POLICY

UPDATE: Hungary’s Monetary Policy Council holds base rate at 8.50%, as expected

Hungary’s Monetary Policy Council holds base rate at 8.50%, as expected

STATISTICS

Hungarian retail sales fall 1.6% y/y in May, 2.4% y/y in January–May

COMPANY NEWS

PHARMACEUTICALS & HEALTHCARE

Hungarian pharma Richter to build HUF 15 bln biotech plant in eastern Hungary’s Debrecen

MEDIA

TDF’s Antenna Hungaria wins Hungary’s digital terrestrial broadcasting tender

REAL ESTATE

Decline in Bucharest home sales boosts rental market – study

PRESS: Romanian developer Construct Con Steel to build two towers for EUR 40 mln

PRESS: Czech energy firm CEZ to acquire CWP’s Romanian wind power project for EUR 100 mln

Spanish developer Ibiza House to invest EUR 220 mln in Romanian property projects

Austrian developer Asamer & Hufnagel to launch Eurovegas casino resort in northwest Hungary

Israeli developer Minrav to build "several thousand" new homes in Hungary

PRESS: Greek investment firm Global Finance receives EUR 80 mln for Romanian office project

Spanish developer Sedesa to build EUR 80 mln Hungarian MotoGP circuit

Budapest office vacancy highest since Q1 2006, new completions 90,600 sqm in Q2,

Romanian logistics, warehouse space to double in 2008 – C&W

PRESS: French retailer Carrefour to build hypermarkets for EUR 450 mln in Romania

U.K.-based developer Argo invests EUR 34 mln in expanding Romanian mall

ENERGY NEWS

OIL & PETROCHEMICALS

Hungarian fuel sales rise 0.6% y/y in H1, led by diesel

Hungarian retail fuel prices to fall HUF 5 per liter Wednesday on global price drop

Hungarian oil firm MOL, Czech power group CEZ finalize joint venture

GAS

PRESS: Kazakh state oil firm KazMunayGas to invest USD 600 mln in Romanian affiliate Rompetrol

PRESS: Romania to unify gas pipeline network with Bulgaria

PRESS: Romania to unify gas pipeline network with Bulgaria

U.K. hydrocarbon exploration firm Ascent Resources to start gas production in Hungary shortly

Czech CEZ, Hungarian MOL set up CM European Power as first unit of joint venture

HEAT, POWER & SEWAGE

Hungary’s Dunamenti power plant orders EUR 77 mln, 280 MW gas turbine from Italy’s Ansaldo

PRESS: Hungary has further 40 MW hydro power potential

PRESS: Romania’s Hidroelectrica to build wind parks with Spain’s Iberdrola, Norway’s Vardar

ALTERNATIVE ENERGY

Hungarian alternative energy firm Pannergy to start first geothermal drills in October

Romanian oil firm Petrom to invest EUR 2.3 mln in alternative energy production studies

PRESS: Romanian energy distributor Electrica to enter wind-power production via acquisitions

PRESS: Romanian energy trader Grivco to build 50 MW wind power park

IT & TELECOMMUNICATIONS

LANDLINE/MOBILE TELECOMS

Norwegian Telenor’s Hungarian mobile unit Pannon ups Q2 profit 6.5% y/y; revenues down

EMERGING MARKETS NEWS HIGHLIGHTS

U.S. could deploy nuclear weapons in Poland – Russian experts

PRESS: Russian Gazprom’s German unit sees Nord Stream operation delayed until 2012

Ukrainian PM, Gazprom chief agree on mechanism for gas prices in 2009

Setting up OPEC-type cartel for gas still on agenda – Russian President

Medvedev, Miller discuss gas supplies to Ukraine in 2009

FINANCIAL MARKETS

EQUITIES

Budapest Stock Exchange, Indices, 25/07/2008

FIXED INCOME

Hungary fixed income benchmark yields 18–25/07/2008

Hungary fixed income benchmark yields 25/07/2008

Nb: This news report features only the headline of each news