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Hungary

India, Hungary to sign MoU for enhancing cooperation in Sports

HungaryBudapest (Hungary), Nov 11: India and Hungary will sign an Memorandum of Understanding (MoU) for enhancing cooperation in the field of sports.

This was decided at the meeting of Dr. M. S. Gill, Union Minister for Youth Affairs and Sports with his Hungarian counterpart, Dr. Istvan Gyenesei here today

Dr. Gill is currently on a four-day visit to Hungary.

During the meeting, both leaders discussed various modes for enhancing the cooperation between the two countries in the field of sports especially in the areas of coaching and training of athletes.

Hungary, Bulgaria and South Korea to pull out of Iraq

Hungary, Bulgaria and South Korea to pull out of Iraq Baghdad - Hungary, Bulgaria and South Korea will each withdraw their troops from Iraq by the end of 2008, a spokesman for Iraq's Ministry of Defence told the Voices of Iraq news agency on Friday.

The troops will leave after finishing their tour of duty, said spokesman Mohamed al-Askary adding that most of the soldiers duties were "humanitarian."

Bulgarian Minister of Defence Teodor Melescanu was quoted by US media as saying some Bulgarian personnel would stay in Iraq to work as advisors to the Iraqi national authorities.

Kuwaiti diplomat attacked, robbed in Budapest

Budapest - A Kuwaiti diplomat was attacked inside his home, locked in the cellar and robbed by two masked men earlier this week, the Hungarian agency MTI reported Thursday.

Hungarian leader seeks economic crisis plan

Prime Minister Ferenc GyurcsanyBudapest - Prime Minister Ferenc Gyurcsany on Monday proposed a 3.9-billion-euro (5-billion-dollar) crisis plan to boost Hungary's economy.

The move comes after international lenders pitched in over the last week to help the eastern European nation stave off financial collapse.

Gyurcsany has called the 1-billion-forint plan a stabilization and stimulus package designed to protect jobs and export markets.

IMF speeds up short-term loans for cash-strapped governments

IMF speeds up short-term loans for cash-strapped governments Washington - The International Monetary Fund on Wednesday approved a new programme to provide emergency loans to countries facing serious cash shortages in the wake of an ongoing financial crisis.

Countries with a "track record" of solid economic policies can now apply for three-month loans without the usual conditions attached, IMF Managing Director Dominique Strauss-Kahn said. Typical IMF loans come with certain policy expectations.

EU ready to bail out member states

EU ready to bail out member statesParis/Brussels - The European Union is ready to step up its support to member states hardest hit by the financial crisis by more than doubling the amount of aid available to 25 billion euros (31.2 billion dollars), top officials in Brussels said Wednesday.

The move came hours after the bloc threw a 6.5-billion-euro lifeline to Hungary.

"We all know that some other EU member states and some neighbours of the EU are under stress in their financial and exchange-rate markets, and we are ready to act," EU Economic and Monetary Affairs Commissioner Joaquin Almunia said.

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