mnv
July 22, 2010, 09:42 CET
Preparations underway for talks on Malév with Russians
Preparations are being made for talks with Hungary's Russian partners on putting the situation of national carrier Malev in order, Attila Marton, government commissioner in charge of air travel, said on Wednesday. The topic is expected to be put on... [read complete entry]
July 21, 2010, 09:39 CET
State plans management reshuffle at Malév
Hungary's National Asset Management Company (MNV) has called an extraordinary general meeting of national carrier Malev to make changes to its boards, MNV told MTI on Tuesday. The EGM is slated for Friday, July 23, MNV spokesman Zsolt Zichermann said... [read complete entry]
July 20, 2010, 09:27 CET
Ministry stops Volánbusz tender
The National Development Ministry will cancel the bus purchase tender announced by state coach company Volánbusz, because the conditions exclude many potential bidders, the ministry announced yesterday. The tender requires bidders to have average net annual revenue of Ft 1.5... [read complete entry]
July 16, 2010, 10:40 CET
Investigation ordered into transfer of state-owned property in Budapest
National Development Minister Tamás Fellegi has ordered state asset manager MNV to launch an investigation into the transfer of ownership of a property in District XII worth Ft 560 million (€2 million) from the state to the Hungarian Jewish Heritage... [read complete entry]
July 01, 2010, 10:16 CET
State to allow only forint mortgages
Hungary will ban all foreign-currency mortgage loans from July 1, National Economic Minister György Matolcsy said at a press conference yesterday. The current moratorium on foreclosures will also be extended to the end of the year. The government will work... [read complete entry]
June 17, 2010, 10:10 CET
GVH investigates land appraisal companies on suspicion of cartel activity
Hungary's Competition Office (GVH) on Wednesday said it carried out unannounced on-site investigations at real estate and farmland appraisal companies on suspicion of cartel activity. GVH carried out the investigations at the offices of ANZSO 2001 Szolgaltato es Kereskedelmi, FHB... [read complete entry]
June 16, 2010, 10:02 CET
Győr barracks goes for Ft 6.5 billion in tender
The winner of a tender for the sale of a an old barracks in Gyor (NE Hungary) bid gross HUF 6.5bn, Hungary's National Asset Management Company (MNV) told MTI on Tuesday. The winner will not be named until after the... [read complete entry]
June 15, 2010, 09:48 CET
Asset manager to take over more state-owned companies
The National Asset Management Company (MNV) will take over state-owned companies it does not yet oversee, such as railway company MAV, National Development Minister Tamas Fellegi told MTI. New principles for inventorying state assets are to be decided by July... [read complete entry]
June 03, 2010, 10:14 CET
Demján reportedly to participate in launching "new Malév"
Hungarian businessman Sándor Demján would take part in the rekindling of state-owned Malév, business weekly Figyelő wrote. Imre Mécs, CEO of the Hungarian billionaire's venture capital company Magyar Tőketársaság, confirmed the news that Demján is in talks with foreign investors... [read complete entry]
May 27, 2010, 10:06 CET
Revenue of state assets manager MNV exceeds plans by 32% in 2009
State assets management company MNV had revenue of HUF 128.3bn in 2009, exceeding the respective HUF 97.4bn target by almost a third, MNV told MTI on Wednesday. Expenses remained below plans. The state assets management council approved MNV's preliminary annual... [read complete entry]
May 19, 2010, 09:27 CET
Fidesz officials submit bill to merge VPOP with APEH, transform portfolio of MNV
Minister of National Economy-designate Gyorgy Matolcsy and Fidesz political official Janos Fonagy on Tuesday submitted separate bills to parliament stipulating the merger of Hungary's Customs and Excise Tax Office (VPOP) with tax office APEH and the transformation of the Hungarian... [read complete entry]
May 18, 2010, 09:45 CET
BlackRock holds over 5% in Richter
New York-based financial investor BlackRock Inc has acquired a stake of 5.04pc in Hungarian pharmaceutical company Richter Gedeon, Richter said on the Budapest Stock Exchange website on Monday. Richter's biggest shareholder is the Hungarian National Asset Management Company (MNV) with... [read complete entry]
March 25, 2010, 09:54 CET
Hungarian government officials implicated in Daimler bribery case
Unidentified Hungarian government officials may have received as much as €333,000 in kickbacks from German car maker Daimler in the procurement of Volánbusz vehicles, according to the lawsuit filed by the US Attorney General's Office in the US on Monday.... [read complete entry]
March 12, 2010, 09:44 CET
State acquires 95% of Malév through capital raise, in line with earlier agreement
The Hungarian state has raised the capital of Malev to give it a 95pc stake in the national carrier, Finance Ministry spokesman Ferenc Pichler confirmed for MTI on Thursday. The state raised capital in Malev by HUF 25.4bn, of which... [read complete entry]
March 03, 2010, 10:19 CET
Government issues decree on Malév renationalization
A government decree on the renationalisation of airline Malev was published on Tuesday. The decree outlines the terms of an agreement reached late Friday between Malev's owners and the Finance Ministry under which the Hungarian state will take over 95pc... [read complete entry]
January 19, 2010, 09:43 CET
Horse-racing fans protest against cuts
A demonstration was staged outside the headquarters of the state asset manager MNV Monday afternoon against plans by the state-owned horse-racing company to reduce activity this year. The organiser will reduce the annual number of races from 48 to 35,... [read complete entry]
December 17, 2009, 09:40 CET
Hungarian state "wagering" almost Ft 1 billion on horse-racing firms
The State Asset Manager has agreed to provide Ft 840 million in funding in four equal installments to Hungarian horseracing companies. The transfer and use of state money will be overseen under strict guidelines. The key to the future of... [read complete entry]
December 04, 2009, 12:27 CET
Deputy head of national asset manager resigns following criminal convicion
Fulop Benedek, deputy-CEO of Hungary's National Asset Management Company (MNV), tendered his resignation to Finance Minister Peter Oszko on Thursday. Mr Oszko accepted the resignation. Mr Benedek was sentenced on Tuesday to 18 months imprisonment, suspended for three years probation... [read complete entry]
November 17, 2009, 08:31 CET
State selling former military storage facility in Budapest
Hungarian state asset manager MNV has put a former military storage facility in Budapest's District XIV up for sale, writes vg.hu, based on MTI-Eco. The 1,891-square-meter facility sits on Mogyoródi út, and is subject to a minimum bid of just... [read complete entry]
November 16, 2009, 12:32 CET
State asset manager sacks CEO of Pest County regional office over irregularities
Hungary's National Asset Management Company (MNV) has dismissed the organization's Pest County Regional Office CEO Tamas Balogh and initiated an investigation into irregularities surrounding bids received for the leasing of 2,500 hectares of land in the county, MNV told MTI... [read complete entry]
October 15, 2009, 10:24 CET
State asset manager seeks to reverse dubious casino-related property swap
Hungary's National Asset Management Company (MNV) will start talks with the aim to revert a land exchange related with a planned large casino project, MNV said on Wednesday. MNV spokesman Zsolt Zicherman said MNV is seeking to annul the land... [read complete entry]
September 23, 2009, 12:07 CET
Questions raised over Hungarian state's sale of Moscow building
The Hungarian state sold the building which housed the 17,000m2 trade complex in central Moscow in 2005 at a fraction of the market price, it emerged at a meeting of Parliament's foreign affairs committee on Tuesday. Diamond Air, a company... [read complete entry]
September 21, 2009, 11:44 CET
State asset manager plans Ft 24.5 billion in property deals in 2010
The Hungarian National Asset Management Company (MNV) plans HUF 24.5bn in revenue from privatisations of real estate in 2010, business daily Napi Gazdasag reported on Monday. MNV expects sales of hospital buildings to generate a combined HUF 16bn, including HUF... [read complete entry]
September 09, 2009, 11:02 CET
State Asset Manager found mismanaging state assets
Outing fat cats receiving exorbitant pay-offs is currently flavor of the month in Hungary, which is no bad thing The latest example is former Deputy Director of Economics at MNV Zrt. Júlia Szűcs, who received Ft 19 million (€70,000) in... [read complete entry]
July 17, 2009, 11:53 CET
Hungary's state asset manager gets his ass fired, and good
It's been a blistering hot week in Budapest. But for one particular person in town it was even hotter. After months and months of negative publicity, on Tuesday Finance Minister Péter Oszkó finally gave the sack to Miklós Tátrai (left),... [read complete entry]
July 10, 2009, 10:04 CET
Government reportedly ready to sack head of state asset manager
A political decision has been made to remove Miklos Tatrai, the head of the Hungarian National Asset Management Company (MNV), from his post, online news source Index reported on Thursday. The parliamentary group of MSZP, which is governing in a... [read complete entry]
June 30, 2009, 08:26 CET
National Asset Manager moves to cap compensation at state-owned companies
Newly-appointed supervisory and board members of state-owned companies will have their monthly salaries halved and capped at Ft 2 million (approximately €7,300) gross from next month, reports hrportal.hu. The move follows an earlier decision by the Hungarian National Asset Management... [read complete entry]
June 23, 2009, 09:19 CET
Managers of state-owned companies return 2008 bonuses
Managers of state-owned companies have so far returned over 100 million forints (EUR 350,000) from bonuses for 2008, the national asset management company (MNV) told MTI on Monday. With regard to the financial crisis, then Prime Minister Ferenc Gyurcsany called... [read complete entry]
May 29, 2009, 09:47 CET
Privatization agency offers "installment plan" for buyers of state properties
Hungary's National Asset Management Council (NVT) has decided to allow winners of tenders to buy state-owned property to pay for their purchases in installments because of the crisis, the National Asset Management Company (MNV) told MTI on Wednesday. If buyers... [read complete entry]
April 24, 2009, 12:44 CET
Russian capital good for cooked Malév goose, bad for plump MOL gander
Interesting little coincidence yesterday in the increasingly fraught area of Russian-Hungarian economic ties. As expected, leading Hungarian energy firm MOL approved a series of takeover defenses aimed squarely Surgutneftegas, which is said to have comradely ties with the Kremlin.... [read complete entry]
April 07, 2009, 07:51 CET
Hungarian state in second bid to sell former military manufacturer
Hungary's National Asset Management Company (MNV) on Monday called a tender to sell 85pc of Radar Holding's shares for a minimum of HUF 465.5m (EUR 1.58m ).... [read complete entry]
January 07, 2009, 09:55 CET
More prosecutors charge national asset manager deputy CEO with corruption
The Fejér County prosecutor's office has charged National Asset Manager deputy CEO and former Agriculture Ministry undersecretary Fülöp Benedek with abuse of office by influencing the Fejér county Land Office in the sale of a 200-hectare former military rifle range.... [read complete entry]
January 05, 2009, 11:45 CET
CEOs of state-owned companies asked to forego bonuses
CEO of the state asset manager MNV Miklós Tátrai has asked the chief executives of state-owned and partly state-owned companies to forego 50% of their bonuses for 2008, and the entire amount for 2009. The proceeds would be enough to... [read complete entry]
December 30, 2008, 11:33 CET
Hungarian privatization head rules out re-nationalization of Malév
Though some conditions of Hungarian airline Malev's privatisation contract have not been met, the airline will not be re-naitonalised, Hungary's National Asset Management Company (MNV) CEO Miklos Tatrai told MTI.... [read complete entry]
December 22, 2008, 10:48 CET
State to auction off 30 more minority stakes starting next month
The state will put a further 30 of its minority stakes in companies with a combined starting price of HUF 1.747bn up for auction on January 27, the National Asset Management Company (MNV) told MTI on Friday.... [read complete entry]
November 10, 2008, 09:41 CET
Vice president of state asset manager charged with corruption
The Székesfehérvár prosecutor's office has pressed charges against Fülöp Benedek, head of agrarian affairs at the state asset manager MNV, and two others, on suspicion of abuse of office. Benedek said he will respond after studying the indictment.... [read complete entry]
October 27, 2008, 09:43 CET
Hungarian state inherits millions of forints each year
The Hungarian state takes in revenues of Ft 8.5 million to Ft 11 million (roughly €33,000 to €42,000) annually from selling inheritances, writes Origo.hu, based on a report in daily Népszabadság. This amount is then turned toward decreasing the state... [read complete entry]
August 19, 2008, 09:32 CET
Inventory system for Hungary's state assets shrouded in secrecy
The cost to create a standard inventory system for all of Hungary's state assets is expected to remain under HUF 1bn, though the exact price will not be known until the system is completed, National Asset Management Company (MNV) IT... [read complete entry]
July 10, 2008, 10:38 CET
Government split over Volán privatization deal
Plans to privatize Volán, Hungary's regional bus company, have resulted in a split between those who would seek to sell it now or those who would like to improve it first before selling it off. [read complete entry]
June 04, 2008, 10:13 CET
National asset manager agency auctions off slices of several firms
Hungary's national asset management agency (MNV) held an auction yesterday to sell 33 smaller commercial holdings. The agency was looking to net over Ft 320 million (€1.2 million) from the sales, mfor.hu reports, via business daily Napi Gazdaság. Speaking before... [read complete entry]
March 07, 2008, 11:21 CET
Goverment earmarks Ft 1.25 billion to promote citizen ownership program
The government has allocated some Ft 1.25 billion (€5 million) to media campaigns to promote its "New Ownership Program" aimed at encouraging Hungarians to buy shares in state-controlled firms. [read complete entry]
March 03, 2008, 09:45 CET
Hungary's government to account for funds on failed government district project
The Hungarian government will release a report detailing how funds for the failed government district project were spent by the end of the second quarter. [read complete entry]
January 17, 2008, 09:04 CET
Fifth FTC tender unsuccessful
The latest attempt to sell the Ferencváros Sports Club has failed after a much-anticipated bid from Britain fell short of minimum tender requirements. [read complete entry]