HUNGARY: NOKIA INAUGURATES MOBILE PHONE FACTORY

Article Abstract:

Finland's Nokia has inaugurated Nokia Komarom Kft, a new mobile phone factory in Komarom, Hungary. The factory, which cost Ft 25bn, is Nokia's third factory in Europe and the tenth worldwide. According to chief executive Jorma Ollila, Nokia Komarom is the most modern mobile phone factory of the world. From the end of 2000, the new factory is to meet the demand in the whole central European region. The factory produces phones only on order. Modern production methods enable the completion of orders within 24 hours. Nokia Komarom employs at present 500 people, but staff is to be increased to 1,300 by the end of the year.

Manufacturing processes, Radio & TV communications equipment, Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing, Mobile & Base Transceivers, Transceivers

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Hungary: Anonymous savings accounts to be abolished

Article Abstract:

Upon pressure by the OECD's Financial Action Task Force, the Hungarian government has presented a its new credit institute bill that bans anonymous savings accounts from the beginning of 2002. Currently deposits of less than ft 2mn (EUR 7,970.10) can be made without identification. Banks can demand identification if they suspect money laundering. In year 2000 Hungarian banks reported about 1,000 cases of suspected money laundering, but due to the difficulty of proof, none of the suspects have been sentenced.

Government regulation, Savings & Loan Assns, Savings Institutions, Savings and loan associations

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HUNGARY: MUSHROOM PRODUCTION GROWING

Article Abstract:

Joszef Rasz, president of the Hungarian mushroom growers' association, estimates that Hungarian growers will sell about 40,000 tonnes of mushrooms in year 2001. In 2000 Hungary's mushroom production amounted to 35,000-38,000 tonnes. In the past ten years, the production has increased 6-fold. Exports take 40-50% of the output, with Austria and Germany being the main markets. Rasz criticises the fact that the EU is limiting imports of mushrooms from Hungary but not those from Poland.

Production data, European Union, International economic relations, Food crops grown under cover, Mushroom Growers, Mushroom Production

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