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Attempt to take back makeshift market in capital ends in standoff

State-owned Hungarian railway company MAV on Thursday attempted to take back a rental property in Budapest from a company that operates a makeshift market at the site. MAV cancelled the rental contract for the site with Komondor on June 17. Komondor had until November 21 to vacate the premises. Speaking after the attempt to reclaim the market ended in a standoff, MAV spokesman Tibor Sigulinszki said MAV wanted to transfer the property in District VIII to the National Asset Management Company (MNV) as soon as possible. He added that MAV would try to cut off or scale back utilities at the site. Komondor counsel Andras Szuromi told journalists at the market that the company had communicated to MAV its stand on the matter, supported by legal principles, but the railway company had continued to insist that it vacate the premise. Because the validity of the cancellation of the contract was disputed, Komondor holds that the contract remains in force, he added. Szuromi said Komondor would decide whether to remain at the site and "defend" it.

Budget committee proposes increase in support for consolidation of local-council debt Parliament's budget committee has proposed an amendment to the 2014 draft budget that would increase government support for consolidation of local-council debt to HUF 64 billion from HUF 4 billion, parliament announced on its website on Thursday. The committee also proposed a total of HUF 18.35 billion in additional support in the 2014 draft budget for Budapest public transportation, rural homestead development, sports and athletic associations, operation of government offices, the police and the prosecutor's office. The committee proposed a HUF 790.5 million reduction in support in the 2014 draft budget for preschool-teacher wages and preschools and local council-operated artistic organizations. The committee proposed reducing capital in the Hungarian Development Bank by HUF 10 billion in order to increase capital by this amount in the State Motorway Management Company (AAK).

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Tax authority keeps online tobacco ads in sights

Hungary's Tax and Customs Authority (NAV) is watching six of Hungary's most popular consumer-to-consumer sites for tobacco advertisements, state secretary for tax and finance Gabor Orban said in a written response to a question by an opposition MP posted on the website of Parliament. Orban told Socialist MP Tibor Kovacs that NAV had removed 1,289 ads for tobacco from the sites this year. Hungary introduced a state monopoly on retail tobacco sales in July with the aim of keeping tobacco away from children. National Economy Minister Mihaly Varga said in an interview earlier in the week that official data showed no significant changes on the black market for cigarettes since the monopoly was introduced.

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 Ministry publishes draft of M0 stretch The National Development Ministry on Thursday said it published the draft of a government decree on the route of an 8 kilometer stretch of the M0 ring road around the capital. The ministry said construction of the stretch could start in 2017. Daily Nepszabadsag said on Thursday that the stretch could be completed by 2020. The stretch, on the northwest side of Budapest, would include 5.2 kilometer of tunnels and a bridge spanning a valley near Budakalasz, the paper said. The paper learnt that the environmental permit for the construction of the stretch has already been obtained. A tender to plan the organization of other permits for the project could be called in Q1 of next year. The plans for the motorway could be completed by the autumn of 2015, and the building permit could be awarded in the spring of 2016, Nepszabadsag said.

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ATMs. Historical background

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Today, the concept of banking machine for dispensing cash or just the ATM closely associated with the concept of a payment card. This relationship is sustained over decades and helps us to access your account from virtually anywhere in the globe. The first ATM was patented by Luther George Simpana in 1939 , the Device gave out cash, but could not deduct them from the account – this technical possibility did not yet exist. Simjan invited to try out the invention one of the major us banks, but after half a year bankers returned the car, saying that do not see it as necessary. The invention of Simpana 30 years forgotten and finalized only in the late 60's by engineer Don Wetzel. 21 Sep 1995, don Wetzel (co-owner of the patent for the ATM) gave an interview for the Museum of American history. The content of this interview used in this article. After graduating from Loyola University in 1951 year, don Wetzel was hired at IBM in the computing center of collective use. At that time, ve...
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The Bank of Russia gave a list of signs of a financial pyramid

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The Bank of Russia has classified organizations with signs of financial pyramids. About this informed the head office for countering malpractice in the open market, Bank of Russia Valery Lyakh. According to him, today in the crosshairs of the crooks who call themselves "financial agents" are citizens, debtors of banks and microfinance institutions. They offer services either on refinancing of overdue loans, either by co-financing. These "financial agents", telling the Central Bank, argue that organized investment projects to generate enough to repay the loan income. By signing the contract, they undertake to repay the debt of the physical person on the loan before the Bank or MFI. Instead, the client sends the agent the money in the amount of 20-35% of the total debt. These funds are in the contract as payment for services of the agent. After this "financial agent", typically produces several payments to repay the debt to demonstrate "good faith"...
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Brokerage services: choose a reliable company

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To determine the reliable brokerage company, in fact, is not so simple. We hope our publication will be useful for those who are only planning to work in this market. Russian legislation does not allow citizens to participate in trading on the stock market. A mediator must be a brokerage company. First, the latter should be contracted, and second means for opening the account in the broker company – a professional participant of the stock market. Below is a brief summary about what are the responsibilities of brokers today. So, the broker service involves providing customers with a convenient platform to conduct commercial activities on the securities market. Accordingly, means and actions on behalf of clients and protect their interests, the timely and fair payment of all earned by the trader money. The broker is essentially an intermediary in the transactions , which you should choose meticulously and carefully. It is no secret that in the market there are dealing centers (DC) operat...
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