Tuesday, 31 October 1995
Volume 2, Issue 211


REGIONAL NEWS
-------------

        **HUNGARIAN NUCLEAR WORK STRIKE FOR PAY**
        Workers at Hungary's only nuclear power station near the city
        of Paks struck for two hours yesterday.  They were trying to
        reinforce their demand for a 25 percent  pay hike.  The strike
        was supported by 24 hundred of the plant's 36 hundred
        employees.  The Hungarian government has capped all raises for
        profit-making majority state-owned companies at a maximum 15
        percent.  The Paks plant is expected to make a profit of six
        million dollars this year even though the Hungarian electric
        utility.  MVM is predicting total losses for the industry of
        one and a quarter million dollars.  The Hungarian government
        is currently hoping to get foreign investors to take
        significant stakes in its electricity sector, including the
        Paks plant.   The work stoppage at Paks came on the eve of
        talks today between unions for electricial workers and
        privatization minister Tamas Suchmann.  They'll be  discussing
        the union's request for an across-the-board 20 percent salary
        increase.

        **HUNGARIAN MEDIATOR SIDELINED**
        Hungarian Sandor Meszaros, the top international mediator in
        Russia's troubled Chechnya region, won't be able to complete
        his mandate there after recent surgery for injuries he
        suffered in an accident in Chechnya.  Hungarian Foreign
        Ministry Spokesman Gabor Szentivanyi said yesterday that by
        the time Meszaros will recover there'll be three or four weeks
        left until his mandate expires at the end of December and
        there wouldn't be much point in sending him back for that.
        Frenchman Olivier Pelen, deputy head of the mission in Grozny
        of the Organisation for Security and Cooperation in Europe
        will replace Meszaros until the end of the year.  Meszaros
        suffered what were initially thought to be minor injuries in a
        road accident in Grozny October 13. But his condition
        deteriorated and he was brought to Budapest for surgery.
        Doctors diagnosed a fractured rib and found serious internal
        injuries requiring an immediate operation.

BUSINESS NEWS
-------------

        **TOO MUCH TO DO, TO LITTLE TIME TO DO IT**
        The U.S. energy group Tenneco Inc says it's decided not to put
        in a bid for any of the fossil-fuel power plants or the
        regional distribution networks in Hungary's electricity sector
        privatization tender.  Tenneco says the time period for the
        submission bids is too short.   Tenneco Energy Europe
        President Kenneth Wisnoski says there isn't enough time for
        Tenneco to do the proper due diligence and come up with a
        credible bid.  The deadline for bids for stakes in MVM's six
        regional electricity distributors and seven fossil-fuel power
        station companies closes November 30.  The tender opened
        October 16th.   Twenty two U.S. and western European companies
        bought detailed documentation on the project.  The Hungarian
        government has come under pressure from the World Bank and the
        International Monetary Fund to press ahead with its
        privatization program. The government has already said it
        probably won't meet its 1995 budgeted privatization revenue
        target.


ABOUT CET ON-LINE
-----------------

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  copyright notice, and all other copyright and by-line
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  conditions are subject to change without notice.  For further
  information, contact Zoltan Nagy at >

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  Reuters.  For information on Reuters news and information
  products, contact your local Reuters office.


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  editorial content should be directed to Duncan Shiels at
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OMRI DAILY DIGEST
No. 213, 1 November 1995

^^^^^^^^^^^^^^^^^^^^^^^^^^^TODAY'S TOP STORY^^^^^^^^^^^^^^^^^^^^^^^^^
TRANSYLVANIAN BISHOP MAKES "ALTERNATIVE RECONCILIATION" PROPOSAL.
Reformed Church Bishop Laszlo Tokes, honorary chairman of the Hungarian
Democratic Federation of Romania, has revealed the contents of an open
letter addressed to the presidents of Hungary and Romania calling for an
"alternative reconciliation proposal" between the two countries.
Romanian TV on 31 October reported that Tokes proposed following the
model of southern Tyrol, where the German-speaking minority was granted
autonomy, rather than the French-German reconciliation model, as
suggested by President Ion Iliescu. He also criticized the Hungarian
government for neglecting the problems of the Hungarian minority in
Romania. * Michael Shafir

HUNGARIAN POLITICAL UPDATE. Prime Minister Gyula Horn on 31 October
announced he expects to meet his Slovak counterpart, Vladimir Meciar,
next week to discuss the Slovak language bill. He added that he will ask
Meciar to submit a bill that does not violate the rights of ethnic
Hungarians. With regard to relations with Romania, Horn said he had
agreed with Prime Minister Nicolae Vacaroiu to restart talks on the
basic treaty. * Zsofia Szilagyi

[As of 12:00 CET]

Compiled by Jan Cleave


Wednesday, 1 November1995
Volume 2, Issue 212


BUSINESS NEWS
-------------
        **HOLDING TO BBB**
        Japan's Credit Rating Agency Ltd says it's affirmed its triple
        B rating of long-term yen-denominated bonds issued by the
        National Bank of Hungary.  The agency says Hungary's gross
        domestic product growth for 1995 is forecast to be between
        zero and two percent.  That compares to three percent growth
        in 1994.  The agency also says austerity measures introduced
        last March are expected to help improve the economy.  It's
        also pleased that privatization in Hungary has spread from
        peripheral companies to core enterprises, including
        electricity and gas companies and oil firms.   The agency says
        Hungary is also supported by international financial
        organizations, and its market economy will be strengthened by
        an inflow of foreign direct investment.

ABOUT CET ON-LINE
-----------------

* CET On-Line is Copyright (c) 1995 Word Up! Inc., New Media
  Group, all rights reserved.  Not-for-profit redistribution of
  CET On-Line in electronic format is allowed only if our
  copyright notice, and all other copyright and by-line
  information contained in this publication is included.
  For-profit distribution of this publication or the information
  contained herein is strictly prohibited without the express
  written permission of Word Up! Inc., New Media Group.  These
  conditions are subject to change without notice.  For further
  information, contact Zoltan Nagy at >

  Some portions of the news provided by special agreement with
  Reuters.  For information on Reuters news and information
  products, contact your local Reuters office.


* All "Letters to the Editor" and other comments about
  editorial content should be directed to Duncan Shiels at
  >.  Any comments about distribution or
  production should be directed to Zoltan Nagy at
  >.


**CET On-Line** is a Word Up! Inc., New Media Group
  Publication.  The New Media Group also publishes the Prague
  Financial Monitor on-line.  For more information on the Prague
  FM, send a message with the word INFO in the body of a message
  to >.

  For a copy of the latest issue of the Prague Financial Monitor,
  send a blank e-mail message to >.


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