About 100,000 Hungarians rallied on Tuesday night to protest at a planned tax on data traffic and the broader course of Prime Minister Viktor Orban's government they saw as undermining democracy and relations with European Union peers.
Hungary
Hungary Central Bank Makes Another Rate Cut as Inflation Drops
The central bank of Hungary is expected to press ahead with monetary easing in 2024 due to the sharp drop in inflation last month.
IBM Confirms UStream Acquisition, Steps Further Towards Developing Own Cloud Video Streaming Unit
IBM has announced Thursday purchasing live video streaming platform, UStream. Details of the acquiring deal haven’t been disclosed, but the price believed to peg a price not more than $150 million in cash. IBM has furnished a press release in its website, which ends leaving probability for changing its narrated goals on forming cloud video unit.
Microsoft To Offer Voluntary Replacement of AC Power Cable For Surface Pro Tablets
The AC power cables linked to Microsoft’s Surface Pro tablets of selective three generations pose fire risks due to overheating. Though a limited number of overheating issues have been reported, Microsoft is taking no risks and going to recall for a global voluntary replacement. Details on replacement procedure will be furnished in the Microsoft website sometimes later this week, possibly on Friday.
Drop in agriculture brings down Hungary economic growth in Q3 below forecast
Registering slowest growth rate during the past nine quarters, Hungary's economy growth rate was weakest during the third quarter ending September as agriculture production drop impacted the gross domestic product (GDP) significantly. The stagnant construction activity coupled with underscoring risks to the government's capacity to keep up the economic momentum has been adversely impacting the GDP growth rate.
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Hungary's government plans to levy a new tax on Internet data transfers, according to the draft 2015 tax bill submitted to parliament late on Tuesday, which could hit Internet providers and the country's telecommunications companies.
A luxury train connecting the capitals of Hungary and Iran left Budapest for the first time on Wednesday, with 70 passengers set to cross the Balkans, the Bosphorus and Kurdistan on the way to Persia aboard a set of deluxe railcars.
Budapest, Hungary-based startup Tresorit landed $3 million in its Series A funding round with Euroventures as lead investor to provide both convenience and security along with its cloud storage services.
Raiffeisen Bank International reportedly aborted plans to sell its loss-making Hungarian business, saying that selling the asset at a knock-down price would trigger losses it was not prepared to accept.
The government of Hungary eyes the sale of its majority stake in savings bank Takarekbank, according to a government decree reported by Magyar Kozlony, the country's official gazette.
Hungary-based state-owned utility MVM Zrt announced on Tuesday its plan to purchase a minority stake in natural gas supplier Fogaz Zrt in a deal valued at HUF41 billion ($187.4 million).
The following bids, mergers, acquisitions and disposals were reported on Friday including ITC Holdings, Dave & Buster, Time Warner Cable, Banca Etruria, Cube Capital, Cargolux, Simon Property and Versace.
According to Bloomberg, chemical firm BASF said it will be selling some North Sea oil and gas assets to MOL Hungarian Oil & Gas in a deal worth $375 million.
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