Banks must pay the 7 percent charge in
forints by December 20 this year.
The European Commission examined several forms of state financing handed over to the airline, which added up to $257 million worth of Hungarian
forints as well as 76 million euros.
The firm will remain under state control for up to two years while there still is an emergency on the ground and during relief efforts, which would cost tens of billions of
forints or tens of millions of dollars, he added.
The price for the 400,000 shares in the domestic tranche of the offer was set at 2,700
forints ($11.44), with the shares being offered to Hungarian retail and institutional investors.
The tax revenues would be distributed to local Hungarian productions through the National Cultural Foundation, which last year gave 3 billion
forints (U.S.$14 million) to various artists.
In dollar terms, rents in downtown Budapest fell slightly to $33.88 PSF, but the national economic restructuring plan resulted in a 36 percent drop in the value of the Hungarian
Forint against the German Deutsche Mark, the currency to which rental rates in prime buildings are generally linked, causing sharp rent increases (for those converting
Forints to DM).
is establishing its first development centre outside the United States here in Hungary with an investment of 2 billion
forints (EUR 6.14 million).
