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This is the feature article of the week.
If you come across any articles that you think deserve its place here, please fill in the form below. Each week I would personally handpick few articles to be put here.
Do also visit the Headlines section to see the latest news.
Latest articles are place at the bottom!
Feature article 1
Russian order boosts struggling bus firm
http://www.budapestsun.com/full_story.asp?ArticleId={A64A28C9A65543CA8B7E157BCD0808D9}&From=Busines
The following article is about a about to die bus maker in Hungary, whom is brought back to life by a 31 million contract to supply the Russian capital with 300 buses. IKARUS Bus was 75% own by a company base in Spain Iris Bus. 25% is own by Hungary base IKARUS. Under Hungarian law, a company’s net assets cannot be less than 75% of its registered capital, that explains the constitution of shares holdings as mention above. The fist shipment would be made by the end of this year.
You may say what's 31 million Us dollars, Sun Hong Kai Properties HK earn 250 million net profit after tax last year and over 2000 million USD turnover, but 31 million for Hungary is a great deal of money. But it is not money we are concern about here. This articles shows us that Hungary has very strong business ties with Russia, which is one of their major trading partners besides the wealthy Europe and USA. We all understand how important international ties can be, good ties would mean support and business while bad ties would mean war. Hungary need to maintain good ties with Russia, just like Singapore need to maintain good ties with Malaysia. Good ties between Hungary and many other countries especially those in the EU has make it easier for businesses base in those countries to do business with or in Hungary, therefore Hungary is able to attract a lot of foreign investors into the countries. The not just create jobs and bring money they also bring in technology and skills which is need for a country like Hungary to developed, but those technologies which i must let all of you out there know are technologies for the sunset industries, but never the less those technologies are better than those in Hungary. I have work in a steel mill (i am still there), and i have customers whom have brought things or invested with Hungary, companies like Halliburton operates factories there to make Hydraulic drill bits for oil and gas mining and then sell it to other third parties outside of Hungary and then resell it back to the oil and gas miners in Hungary, so I think why should the government be allowing this, they should have prevented such things and rape the profit themselves. But after some thoughtful thinking i found that no, the government is doing the right thing, when Halliburton was set up the technologies transfer was so great it would take the Hungarian a life time to come out with it, and if such big companies like Halliburton, Microsoft come in, it would give other companies a sense of feeling that Hungary is a great place to invest in and therefore more people would come and invest in Hungary. And moreover if the government is so restrictive the companies would not have come into Hungary in the first place, in this world of dog eat dog, it is either i get a bite of you, or I would find other means. So let me remind a sound foreign investment policies, is one of the key factors for the development of a nation.
feature article 2
http://globalarchive.ft.com/globalarchive/article.html?id=010912010123&query=Hungary
Hungary backs NATO decision after US attacks
Article describe that the attack on US has breach the fifth section of the North Atlantic Treaty. An attack on any members of the NATO is regarded as an attack to all the other members as well. Hungary backed the adoption of this stand at the session of the NATO council. Hungary decide to apply for the fifth section (meaning that they would aid US in their mission to find and punish the terrorist), provided that the US can prove that the attacks were from overseas of US. The prime minister of Hungary has told the press that the US needs to learnt her lessons from the attacks, and prevent such things from happening again in the future.
The attacks on US would affect Hungary for many reasons. The US is part of NATO, and US is one of the major trading partners to Hungary. These attacks would have bring some business opportunities to Hungary especially in the manufacturing and steel industries.
Feature article 3
Hungarians: Mars Life in South Pole
http://dsc.discovery.com/news/reu/20010903/marslife.html#
Hungarian scientists has found prove that there is living organism on planet mars after analysising photos taken by the Global Surveyor Probe. The pictures showed evidence of thousands of dark dune spots, similar to organisms found near Earth's South Pole, in craters in Mars' snowy southern polar region. Those spots shows that below the surface there are organism which absorbs the sun's energy. Which in turn is able to melt the ice and create a life for themselves.
This is indeed a great discovery (provided that it is true), life on mars, Steven Hawkins would be interested in that. But more importantly it shows the Hungarians interest and power in the space sectors, which I believe is a very good sector to developed because in the future more and more space things are coming up, and I am not just talking about satellites, i am talking about high end weapons which can launch a beam from space and destroy the whole of New York city in 3 seconds flat. But however i do not encourage violence, therefore it is important for Hungary scientists to make something beneficial for mankind out of space, such as how to dispose radio active substances (which obviously Hungary has lots of them) safely into space. Also the development of the space industries would bring along with it the development of other related industries such as the aerospace material supplier sectors and the electronics sectors, this would create more jobs and encourage more foreign investors. Well with the help of Russia and the USA, the so call grandfathers of space, the development of the space sector in Hungary is going good.
Feature article 4
Pact gets election race off starting blocks
http://www.budapestsun.com/full_story.asp?ArticleId={8835FC101F0F4999AEE1FA02F4FB387E}&From=News
The Ruling party and junior coalition partner the Democratic Forum (MDF) has sign an agreement to cooperate in the next election which would be held in year 2002. The agreement was signed at the Gellért Hotel in Budapest’s District XI by Fidesz President Zoltán Pokorni and MDF President (and Hungarian Minister of Justice) Ibolya Dávid. The new name is now Fidesz-MDF. According to statisics David is the second most powerful politician behind the Prime Minister. Currently the only real threat to them could be the Socialist Party (MSZP) and the Free Democrats (SZDSZ).
Having the support of MDF would mean that the ruling Civic party can have even more dominances in the next coming elections. However dominances means that there is lack of competition, and the people may be indirectly force to choose the civic party again. well sad to say so, most of the ruling parties around the world try to make sure that the opposition do not come into power. Then of cause MDF would provide more brains to assist the ruling party to come out with policies that I hope would benefit Hungary and its people. Oh ya the fact the the MDF president is a female prove to us one thing that there is equality of men and women in Hungary, which I have discuss in the Social-cultural analysis of Hungary. Well some people said that the cooperation is the civic party aim to "eat out" the MDF but I doubt it otherwise, it was a clever plans of making use of each other to achieve targets.
Feature article 5
Analysts expect little economic effect
http://www.bbj.hu/common/article.asp?id=130555&site=3
Economic analysts has concluded that the terrorist attacks against the US would not have any big impact on Hungary. The government in Hungary is doing everything it can do convince investors that the government is on track with its economic development programs. US is Hungary fifth largest trading partner. The economic minister told business in Hungary not to slow down and take precaution but rather to strengthen positions. The economic ministry would keep a constant watch out for the effect of the terrorist attacks on Hungary. On the day of the attack the Budapest index drop below the 6000 standard. The minister said that Hungary can maintain its annual GDP growth rate and its 13 billion foreign exchange reserve would provide enough protection against transaction risks. The national bank of Hungary said that the forint is likely to remain in a +/- 15% band. The bank also said that the major problem that could be facing Hungary is the problem of the increase in crude oil prices.
I do not agree fully with what the article says, Hungary would be hit dramatically by the terrorist attacks, for one thing Hungary is a Member of the NATO and has already vowed that it would take part in the attack. I wonder how, Hungary defense authorities are so poor they do not even have the money to buy jets and have to rent them instead. The article is written in such a way as so as not to spoil investor confidence (some kind of editorial bias), but I say this is a world wide crisis, when the US economy is not doing well the rest of the world is being affected. And yes if you are thinking about world war 3 no, it is world war 4, the third world war has already started when George Soros brings about the Asian economic crisis (a war does not necessary means bloodshed). Crude oil prices increase could spell disasters for Hungary because most of it major industries depend on crude oil for their operation and so do some of the power supply in Hungary. Increasing in crude oil prices is likely to bring the production price up and so bring up the price of goods, and many chain effects could results then.
Feature article 6
Conference takes up sustainable growth
http://www.budapestsun.com/full_story.asp?ArticleId={B2B36CBEF2F74681AC2A7A16AB4EC425}&From=Business
Business and political leaders will get together next month in Budapest to discuss how they can continue the market economies they have worked so hard to develop in the last ten years. The current president Ferenc Mádl will be the patron of the event. Some 120 people are likely to participate in this event. Main topics of the two-day venue will include challenges of sustainable development, privatization, European Union accession, eco-efficiency, banking and the environment and corporate social responsibility. The Regional Environmental Reporting Award will also be presented on the day. The event is jointly organized by the Hungarian Business Leaders Forum (HBLF), Croatian Business Council for Sustainable Development and Deloitte & Touche Hungary.
As you can see this is not a national event, it involves other regional countries like Croatia as well. It is important to review the process of the economies, and it should be done more often instead of like once in every 10 years. The topics that were on hand are topics concerning Hungarian economy developments as well as issue concerning the entry into EU, but however a disappointing thing is that their is nothing much about social-economy developments. Also this meeting would also discuss how to improve the banking systems in Hungary, which is regarded by many many accounting and finance firms as 'premature'. It is important for those involve to find out actually what is going on and change their plans to fit for the better future.
Feature article 7
GE opens turbine plant, total Hungary capex $1 bln
http://biz.yahoo.com/rf/010921/l21158729_1.html
US Powerful company General Electric, opens a new gas turbine plant in Hungary. GE has investments well over a billion in Hungary. GE has put 100 million into the plant and is expecting to break even in one to two years time. GE investments includes 5 manufacturing units and a bank. The turbines would be target to industries players to use as a generator. The manufactured components are being exported to Germany, France, Italy and the US. The government is also sponsoring 700,000 US over dollars into the investments.
Having such a big and famous company to invest in Hungary is crucial, because it prove to other investors that Hungary has its potential. The annual turnover of GE is a few times the GDP of Singapore! And the good thing is the GE expect break even in less than 2 years time, which in fact in when companies invest in ex-communist country they are not even sure that their investments would disappear half way into the smoke. In fact a less than 3 years break even is consider to be very short for such a big investments, even if that was in Singapore. But the good thing about choosing Hungary as a production base is that they can make use of the cheap labor there as well as the cheap land. The fact that the government is giving its support would also mean that it would be easier to get support infrastructure as well as incentives like tax discounts and tax holidays. President of GE Power Systems said that Hungary is now home to their highest technology business. The company sees great prospect because of the increasing demand for the products as well as better developed economic and technological infrastructure in Hungary.
Feature article 8
Premier explains Hungary's support for US operation, calls for national unity
http://hoovnews.hoovers.com/fp.asp?layout=displaynews&doc_id=NR20010924670.2_d2e0005c47063416
The Prime Minister said that terrorisms has targeted the personal freedom of the Hungarians as well as the freedom of everyone. He added that the decision to help the US in its bids against terrorist is in fact helping the Hungarians themselves. He also said that the governments would speed up efforts against money laundry crimes, and also tell Hungarians not to condemn against the religion Islam. He also express sympathy and concern to those whom sacrifice their life in the incident, many of those also includes several Hungarians. He also announce that there would be economic packages to surf Hungary though this period of time. He also urge the Hungarians to stand together, because only that then can the nation get over the crisis and progress.
There is something about Osama and his gang of terrorists that I like to talk about. Many people think they are the freedom fighter of Islam, but are they? To fight for Islam is only a small part of their objectives, their main objective is still to makes lots of money. Here's how, they would bomb the US and demand for money to support their attacks, they would us ways to force people, including countries governments into sponsoring funds for their activities, in short we can all those protection money. They are no different from triads operating in Hong Kong and Taiwan, like for my case, we brought cows to Pakistan, trade the cows for weapons and then exchange the weapons for "blood diamonds" in Russia, then we sell in in Hong Kong, in this way our profit margins is several thousand percent. The fact that Osama is so powerful is because it has a religious backing, those triad in HK can't get as powerful, although they can have like 5000 to 10000 active members, none would be willing to die for the triad. Well Islam is mean to be good, peaceful and respectful culture, but there are some of the so call break always whom are more violence. I urge everyone, terrorist is our target, not religion and not race.
The world has all turn for the US, even Hungary which does not seem to be really affected has shown full concern and support for the US, they say a war can make enemies , they also say ac war can make friends. In fact what make Hungarians so concern is that there are Hungarians victims in the disaster. In fact those died come from over 60 different nations. I urge the terrorism whatever you are doing, stop, you always ask the Americans to be peaceful especially to the innocents, but at every time your attacks are being targeted at those innocent and defenseless civilians. I agree that sacrificing your life for the sake of your religion is a heroic act but sacrificing the life of innocent victims for that is cruel and unethical. Your acts are not heroic, they are cowardly and irresponsible. But I do also feel that it is right to fight for your own religion and your own people, but violence and deaths and bloodshed does not solve any problem. Remember the last battle is always won without a fight.
Feature article 9
Construction growth overtakes industrial output
http://www.bbj.hu/common/article.asp?id=131208&site=3
Analysts said that despite the growth in construction output in July, that growth cannot be enough to cover the negative impact of the economy downturn, the increasing value of the forint, and effects that the terrorist attacks in US is likely to bring. According to statistics the construction activates was 12.3% higher in July than compare to the same month last year. But however the total industrial out put is only 2.4% increase. Experts say that the growth in the construction industries is partly due to the government investing a lot into building up roads and other infrastructure in Hungary. Because many of these projects are held by foreign companies in foreign currency, the increase in the value of the forint also meant an increase in the value of the project (in Hungary point of view of cause). Due to the US terror incidents most expects do not foresee further investments in the construction industry so fast. The government predicted that GDP growth for the year is 4.5%, down from 5% predicted from last year.
Constructions plays a great due in the developing of the nation, from the construction volume we can easily related to economic growth. More construction would also mean the nation is developing. More construction would also mean more investments. The fact that most of the construction are for the building of infrastructure also show that the government is doing its part to help the nation to develop. The increase in the value of forint is a sad thing however, because this would make it more expensive to do business in Hungary, also Hungary exports would become increasing more expensive, thus lower its popularity in the market. Another pity thing is that despite such high growth in construction activities the growth in industrial output is very low, industrial output is another important factor to determine the nation development, especially for countries with a large percentage of their GDP coming out from the industrial sectors. The growth in contruction industries could led to the growth in other related industries like steel industries and brick industries as well. The construction sector typically employed a large numbers of workers so a growth in the construction industries would also mean that more jobs would be created.
Thats all for this week!
Feature article 10
http://www.djournal.com/djournal/site/articles/news/666149.htm
Speaker Ford will attend conference in Hungary
White house speaker Tim Ford would travel to the capital of Hungary to take part in an conference with other leaders of the US, Canada and 12 other European nations. The topic for discussion is "The global challenges of minorities and migration: key issues for a peaceful future.'' Tim said that Hungary face the problem of many ethnic groups and also many political parties. He said the US is able to provide Hungary with assistance in the areas of many minorities, since the US has been facing these problems also. However due to the attacks by terrorist, some of the US speakers cannot make it, but Tim promise to be there.
The problem of minorities may seem small because we don't see any violence being involved. But however many of these minorities are not able to identify themselves as a Hungarian, if so they are less willing to contribute to the country. Many of these minorities are actually "leftovers" of people whom use to attack or control Hungary like Romanians and Russians. And so the Hungarians especially the older generation may find it difficult to get along with them. The problem with many political parties is also a problem so much so that the leading party only have 30% support, without 100% support it is a pull back if the country wants to perform better, as some citizen might not like what ever the ruling party proposed. So I guess the parties should either merge or smaller parties should join the better ones, this way there is fairer fights and combine talents.
Feature article 11
Hungary: Attack on USA increased voter decisiveness, support for ruling parties
According to a poll by public the Hungarian Civic parties and the Hungarian democratic forums whom would join hands in the 2002 elections has taken the lead over the Hungarian socialist party. Also those whom would not vote or don't know who to vote has reduce by a third. Ever since the ruling party shows a support against terrorism their popularity rises. Ever since the events the people are getting closer to politics and the government, also people whom are previously not bother about politics has become more active. poll results: Fidesz-MDF: 29 per cent, HSP: 22 per cent, not to vote: 9 per cent, does not know: 30 per cent.
So it all seems that a disaster brings the people closer to the government, especially if the disaster happens in the country and the government do its best to help the victims. The Hungarians has now recognized it is important to vote and choose a right government, they also feel that the current government is doing the right thing to fight against the freedom of Hungarians, and also they feel the decision made was right because many of the innocent victims whom died in the tragedy are Hungarians. The government measures for the nation to get over the crisis has also increase the people confidence of the government. Many Hungarians still appear not to know whom to vote, one reason could be that there are so many political parties in Hungary that the people are not sure whom to choose, and many prefer not to involve as they don't want to trouble themselves, they simply vote for the most popular group.
Feature Article 12
Hungary firm offers to save data from WTC rubble
http://www.siliconvalley.com/docs/news/svfront/081455.htm
A tiny Hungarian Firm has offered to recover data stored in those badly damage computers in the WTC rumble. As the damage is very severe, the firm is one of the only 3 firms in the world which has the ability to recover the data. The company is confident of recovering 5% of the data. The company estimated that there would be around 5000 GB of data to be recovered. It cost 1000 USD to recover a GB of data but the company Kurt Computer said it would work for free if asked. The Company team of 12 man can recover 2.6 GB of data per hour. The problem no is due to the damage the firm would find it difficult to determine which piece of data belongs to which company and so on. Also there is worry that confidential data may falls into the hands of those not suppose to see it. And there is problem of getting the necessary broken parts together. Kurt, which said it could work with its rivals -- U.S.-based Ontrack Data International, Inc. or Norway's Ibas -- has told U.S. officials in Budapest it can ensure confidential transfer of damaged data storage devices from the WTC.
Data recovery requires high skills and technology and is a very specialize job. Only a handful of talents in the world as blessed with such skills. Also to make matter even more exciting, the damage hard disk are in ashes state. One again this give Hungary a stand as a nation with high IT skills. Should the company succeed it would do Hungary proud and bring Hungary further into her dreams of becoming the silicon valley of Eastern Europe. Also the company shows its sprits by offering to work free. This shows to the world how Hungarians are kind hearted and would help others. It is a big sacrifice , such big projects don't come often. Also this is a long project, the company may spent well over half a year to clear the data. It may need financial support here. So in that case the Hungarian Government and other relevant authorities should come out with money to sponsor the company. But if the company succeed it would boost its publicity.
Feature article 12B
Electric company seeks to cut off power to thieves
http://www.budapestsun.com/full_story.asp?ArticleId={BA8D2FAAC3A64FC5A465EE8D6F5A5CF6}&From=Business
Due to the high number of electricity thieves in Hungary, Budapest electricity distributor is seeking to cut off the power supply of those thieves. They do awareness advertising and also offered to installed tampered poof electricity meters. It take about 15 minutes to install the meter and it is free. The company want to make honest people recognize that they are paying for thieves. Electricity theft cost US 35 dollars a year, which is enough to pay for 3 years of lighting in Budapest. There is also worries that accidents like fire and electronic shock may occur when inexperience thieves operates. The Champaign would last around 8 weeks.
There are many crimes in Hungary that looks so strange to me. I have only heard of people stealing water from publics taps. First there is the television signals thieves and now people steal electricity. I wonder what else can they steal. Having such great amount of electricity being theft would mean that the infrastructure set up by those electricity providers are not up to standard. Also Hungarian electricity supplies' energy waste rates is far a par from the average of Europe. The problem has long been there and is getting worst. it is time that something needs to be done and fast. The government must work together with the citizen and electricity providers to help curb this problem. More laws should be establish to nail against electricity thefts and at the same time government should make electricity cheaper, this might reduce the number of thieves as some thieves steal because they can't afford or do not bare to buy electricity. Actually electricity theft is not stealing electricity, it is using electricity but connecting to the power meter of other people, so that that other people pays for your electricity bills. In Hong Kong the same thing happen when people may use of others to pay for their car parks fees.