The promising establishment of the group follows the official visit to Hungary in March 2010 of his Royal Highness the Prince of Wales and the organisation of a Roundtable ‘Opportunities for Low Carbon Growth in Hungary’ with His Royal Highnesses’ EU Corporate Leaders Group on Climate Change (EU CLG), the British Embassy in Budapest, Hungarian Academy of Sciences, and Regional Environmental Center (REC).

Key stakeholders participating in the 2010 roundtable had a fruitful and constructive dialogue concerning Hungary’s transition from a high-carbon economy to a low-carbon economy. The establishment of a Hungarian business organisation on climate change is a direct result of these discussions and the corporate members intend to continue to encourage dialogue around the climate debate as well as demonstrate that tackling climate change is a pro-growth option. The organisation also aims to work with the EUCLG and a broader network of corporate leaders to promote the adoption of a sufficiently ambitious and comprehensive international agreement in Durban at the UNFCCC COP17.

In addition to active participation in the Hungarian organisation, one of Hungary’s leading financial companies, Brokernet Group plans to join the EU CLG as well in order to work with leading European and international multinationals on the adoption of ambitious climate policy.

The new group of business leaders focusing on climate change will be supported in its initial phase by the Hungarian Business Leaders Forum and the REC. The launch event is organised with the generous support of The British Embassy in Hungary and HM Ambassador Mr. Greg Dorey.

The general meeting made the decision that 98.4% of the company’s profit for 2010 shall be distributed
among the shareholders. Dividend per share is HUF 240.

The mandate of the members of the Board of Directors and of the Supervisory Board expired in 2011.
Accordingly, the general meeting passed a motion to select members. The general meeting elected the
Company’s Board of Directors for another three years:

Róbert Barlai,
MMag Dr. Michael Buhl,
Dr. György Mohai – CEO, Budapest Stock Exchange Ltd.,
Dr. Mihály Patai,
László Szabó.

After the general meeting, according to the decision of the Board of Directors, Dr. Mihály Patai was
elected the Chairman of the Board of Directors and MMag Dr. Michael Buhl was elected as Vice
Chairman for another three years.

Members of the newly elected Supervisory Board are:

Dr. Johannes Attems,
Róbert Cselovszki,
Eddy D’Hertoge.

Members of the Supervisory Board will elect the new chairman on their next meeting.

On the basis of the decision of investors associations, the person representing investors interests will be
Péter Schuszter, President and CEO of Generali Asset Management Ltd.

Based on the items of the agenda, the shareholders passed a motion to accept the strategic principles for
the Budapest Stock Exchange for 2011-2015, whereby the BSE, utilising the synergy of the CEESEG
group, sets medium-term objectives to develop the local capital market and increase its liquidity.

In orderto achieve the goals, a five-element strategy was established which includes joining the common trading platform of CEESEG and thus expanding the circle of traders, broadening the base of issuers, increasing
the efficiency of data vending and strengthening the domestic investor base.

“In the near future BSE’s ability to attract capital will get more important than ever. Budapest Stock
Exchange will be one of the main intermediaries that help not only large domestic companies but also
small and medium businesses raising the capital required for their development. A combination of EU
funds, bank loans and stock exchange resources will help to put Hungarian economy on a new path to
create more workplaces. The BSE’s role will be to assist these efforts by acting as a state-of-the-art,
efficient and safe tool.” – said Dr. Mihály Patai, Chairman of the BSE Board of Directors.

About the Budapest Stock Exchange

The CEE Stock Exchange Group (CEESEG), which comprises of the stock exchanges of Budapest, Ljubljana, Prague and Vienna, is the largest stock exchange group in the region. CEESEG simplifies access to markets and trading with the aim to increase liquidity on the local exchanges. The CEESEG stock exchanges cooperate with 12 stock exchanges in Central and Eastern Europe and are recognised throughout the world for this unique expertise.

In an effort to contribute to the relief effort, Legends Sports Bar is organizing a fund-raising event, on the Thursday, April 7, 2011 from 7pm to 9:30pm. Tickets are 7,500 Ft each – (including a welcome drink and buffet with Japanese food.) Proceeds from the event, which includes a silent auction, will be donated to the Japanese Embassy.

Everyone is welcome to attend! We would like to extend an invitation to you and any of your friends who may be interested in attending the fundraiser. Please RSVP to manager@legends.hu by April 3rd, 2011 if you wish to attend. We are also looking for donations for the silent auction – if you have any items to donate, please email the above address.

If you are unable to attend the event but wish to make a direct donation to the relief efforts, please donate at:

10404027-49515150-56541027
IBAN
HU63 1040 4027 4951 5150 5654 1027
SWIFT CODE : OKHBHUHB

At the invitation of the European Chambers in Hungary, Minister of National Economy György Matolcsy addressed about 300 European business leaders at a business luncheon on Thursday.

At the event Maurizio Sauli, incumbent Chairman of the European Chambers in Hungary, emphasized that European business has continuously being proving that it is strongly committed to contribute to the progress and the success of the Hungarian economy. It created about half a million jobs in Hungry, is transferring skills and technology and pays a large amount of taxes, Sauli said. He emphasized that European companies wished to continue this mutually beneficial co-operation, and urged the authorities to re-enter a dialogue with this important part of the Hungarian economy.

Minister Matolcsy stressed that the key objective of the government is to make Hungary the most attractive business location in Central and Eastern Europe, adding that this also required the support of its strategic partners abroad. “Hungary needs foreign direct investment, that’s clear cut”, the minister said. He added: “All sectors, all investors are welcome, but in the heart of our investment policies we’d like to create more jobs outside of the service sector and invite investments for creating jobs in manufacturing, in the production sector.” Among others, the “New Széchényi Plan” would boost investments in Hungary and provide new business opportunities to the economy, including foreign strategic partners. “You are welcome to be part of it”, Matolcsy told the European business audience. According to the Minister, the Hungarian investment ratio might reach 22-23 percent in 2013, compared to the current level of 17 percent.

According to Matolcsy, one of the most important priorities of the economic policy of the government is the reduction of the budget deficit and public debt. By the end of the current political cycle Hungary’s public debt will drop to below 70 percent of GDP, meaning that Hungary should get out of the debt trap, the minister said. He confirmed that the crisis sectors imposed on the energy, telecommunications and retail sector will definitely be phased out as promised. “They will be out by the end of 2012”. In the case of the bank levy, Hungary would like to have a common European solution, he added, which “might be a levy, a tax or something else”.

Regarding the structural reforms to be announced by the end of the month, Matolcsy promised that they will be “comprehensive and sweeping ones”. “All of them will be permanent measures, resulting in a sustainable budget deficit level in the medium term”, Matolcsy told the European business leaders.

DALLAS, Texas and CALABASAS, Calif. – January 20, 2011 – The 12 finalists of the second Indie Game Challenge (IGC) sponsored by the Academy of Interactive Arts & Sciences (AIAS), GameStop (NYSE:GME) and The Guildhall at Southern Methodist University (SMU) have been announced. Winners will be announced February 11th at the D.I.C.E. (Design, Innovate, Communicate, Entertain) Summit at the Red Rock Resort in Las Vegas. Hosting the IGC awards ceremony is Adam Sessler, Editor-in-Chief of Game Content for the G4 Network and Host of G4’s “X-Play”; additionally, this year exclusive online content of the Indie Game Challenge will be hosted on G4tv.com/DICE.

“Hosting the IGC awards in 2010 was nothing short of an honor,” said Adam Sessler, Editor-in-Chief of Game Content for the G4 Network and Host of G4’s “X-Play.” “And having seen the finalists for 2011 I must say it is equally humbling to celebrate the imagination, innovation and dedication of this year’s young developers.”
The IGC finalists, which includes six non-professional and six professional teams, are eligible for more than $350,000 in prize monies and scholarships. Prizes up for grabs include: $100,000 awarded to each of the professional and non-professional category winners A $50,000 academic scholarship to The Guildhall at SMU A DesignMetrics® title assessment to each of the winners, a $30,000 value from Electronic Entertainment Design and Research (EEDAR) $10,000 to the IGC Gamer’s Choice winner $7,500 in technical prizes

In addition to monetary awards and industry recognition, all 12 finalists have the unique opportunity to pursue potential commercial avenues for their games while at the D.I.C.E. Summit and also will be provided a full pass to the exclusive gathering. The IGC founders also arrange private face-to-face meetings between the finalists and video game executives from such top publishers

Mirroring the continued evolution of how games are played, the IGC created a Kongregate Award for the best browser-based game. The award recipient in this category, determined by reviewing all browser-based entries by Kongregate, will be announced at IGC by the company’s CEO Jim Greer. The winner’s game will be featured prominently on Kongregate, one of the fastest growing social gaming sites, and will receive immediate exposure to more than 13 million avid game players.

The 12 finalists include:
Non-Professional Category (Team/game) Hazard – Hazard: The Journey of Life
One Man Down – Solace Team Height Advantage – Subsonic Team Hermes – Inertia Toxic Games – Q.U.B.E. ZZZ Games – Symon
Professional Category (Team/game) Bad Pilcrow – Vanessa Saint-Pierre Delacroix And Her Nightmare Nemesys Games – Fortix 2 Playdead – LIMBO Pocketwatch Games – Monaco Spaces of Play – Spirits SpikySnail Games – Confetti Carnival

Finalists from last year’s inaugural IGC have experienced major success, allowing them to successfully break into the video game industry.

A Hungarian team, called Puli, is the only Hungarian Google Lunar X Prize applicant, and has been working on its unique rover designs since summer 2010. The current hurdle is to put 50,000 USD on the table – the entry fee of the competition.

Although most of the money is already secured, thanks to more than 300 private and several company sponsors, there is still a gap which Puli hopes to fill with the help of further donations via its Small Step Club.

You can become a member for as little as 1000 HUF – and building Puli’s virtual Launch Pad in cyberspace.

Puli blogs frequently and uses social media so surf on over to their site or visit the Facebook fan page and check them out.

Videos
http://www.youtube.com/watch?v=DMud3rbqcyM – William Pomerantz: Welcoming the Hungarian Puli Team

http://www.youtube.com/watch?v=jfKK6o7BXkk – Puli Goes to the Moon Concept Video

http://www.youtube.com/watch?v=Xx92M1C9fbo – Something has arrived – Director’s Cut

Ferenc Schmidt,
The leader of the Lifetree programme

Initiated by the Hungarian partner the first international-Chinese law firm of the world, named Yingke Várnai was established. As the first step of the European expansion the Deed of Foundation of the Budapest office was signed by Dr. Rupert Várnai and Mr. Mei Xiangrong in Kodály Hall at the Hungarian Academy of Sciences.

Dr. Rupert Várnai dreamt of establishing the first international-Chinese law firm of the world, after traveling to China two years ago. He imagined that a Hungarian law firm, namely his own team would constitute the partner of the Chinese company. The dreams were followed by actions, intensive search and a series of negotiations, as a result of which the perfect partner was found in the person of Mr. Mei Xiangrong, the leader of Beijing YingKe Law Firm. At that time, the idea of expansion outside China was not new for YingKe, the law firm with the staff of almost thousand and producing the most dynamic development in China. The idea proposed by the Hungarian partner was a perfect match to the plans of YingKe.

The founders base their cooperation on the notion that a team of counsellors including Chinese lawyers, with a know-how of local conditions could provide Chinese companies with an aspiration to expand in Europe with increased safety, not least on account of serving the clients in their mother tongue. Parallel to this, Hungarian clients of Yingke Várnai Law Firm can make use of the legal services on an international standard in Hungarian and in a familiar environment.

The law firm by the partners will provide legal services on an international standard to its clients in Budapest, and in the future, as the next step of the European expansion, in other countries of the region also under the name of Yingke Várnai. “We chose Budapest as the first step of our intensive expansion policy and the law firm established here will be the centre of our regional network in the future”, said Mei Xiangrong.

After signing the document Dr. Rupert Várnai said: „I am confident that we will be able to contribute to the success of Hungarian companies and to the success of Hungarian products and services in China. On the other hand, the newly established law firm will be guarantee to Chinese investors, who will hopefully increase their investments in Hungary, and will choose the country for the basis of their European expansion.”

A new EU initiative designed to help more young people embark upon the great mobility adventure – a fun, interactive and dynamic two-day YOUTH ON THE MOVE event will take place on Oct 8-9 in Budapest.

More information will be available soon on Twitter, Facebook and the YOUTH ON THE MOVE website.

YOM on Facebook

The agenda for the October event:

Comprehensive information on all EU mobility programmes

Meet the YOUTH ON THE MOVE AMBASSADOR

SHOW US! Bring along your backpack for the YOUTH ON THE MOVE exhibition corner

Marketplace of Opportunities: Local initiatives to help you find your way abroad

Theatre, jugglers, circus and sensations

Debates and presentations on youth mobility

”A GREAT EXPERIENCE!” Personal mobility testimonials

GET MOVING! Follow the YOUTH ON THE MOVE MARCH

YOUTH ON THE MOVE in Concert

This fee affects all travelers visiting the United States under the Visa Waiver Program. Travelers in possession of a United States visa or already with an approved ESTA will not need to pay a fee, however, they will be subject to the fee when applying for a new ESTA. ESTA authorization is good for two years.

The United State Embassy in Budapest would like to remind all travelers that completion of an ESTA is required for travel to the United States under the Visa Waiver Program. We recommend that the ESTA be completed at least 72 hours prior to travel. The application for the ESTA can be found on the Embassy’s website at http://hungary.usembassy.gov/. This is the only official site for obtaining an ESTA. Payment of the $14 fee by credit card will be built into the application process by September 8. All third-party services offering to facilitate completion of the ESTA are not affiliated with the U.S. Embassy and have no influence on the ESTA approval or processing time. We advise travelers to exercise caution and to scrutinize the services provided before using any third-party service.

U.S. Embassy Budapest, Hungary

CBRE’s annual survey – now in its third year – mapped the global footprint of 294 of the world’s top retailers across 69 countries, exploring the globalisation of the retail industry at national and city levels and highlighting differences between sectors and regions, thereby identifying trends in the patterns of global retail expansion.

Despite the global economic slowdown, luxury retailers have continued to globalise, with the majority of luxury brands present across all three major global regions. On average, luxury retailers operate in over 25 countries and 50 cities worldwide – giving them the largest global presence of all retail sectors. Growth in the global footprint of luxury retailers has mainly been geared towards emerging markets.China has been a major target, where the luxury sector is thriving, driven by rapidly increasing wealth and disposable income, along with a strong demand for new luxury Western brands. This is particularly evident in the major cities across China where many of the luxury brands have not been available for long and consumers are looking to display their personal wealth with luxury brand products.

Hong Kong maintained its position as the most popular global destination for luxury retailers, attracting 91% of luxury brands surveyed as part of the CBRE study. Hong Kong was closely followed by London, attracting 87% of luxury retailers, and by Dubai in third place, with 85% of luxury retailers present. In total, Asian cities accounted for eight of the top 15 luxury cities, with Taipei, Beijng, Shanghai andSingapore all featuring in the top 10.

As the global economic recovery begins to gather some momentum, Asia continues to largely lead the recovery with many global luxury brands identifying China as a vital market for future growth. Some of the world’s best known luxury brands are strategically targeting emerging markets as part of their longer-term growth plans. Attracted by the powerful growth of economies in countries such as Chinaand Brazil, many brands are looking towards previously untapped markets for new retail expansion prospects. Brazil is rapidly becoming a new luxury hot spot in response to its growing economy and emerging middle class, with retailers such as Burberry – who recently opened their first store in Brasilia – planning to open a further four stores there this year. Louis Vuitton has recently opened three flagship stores in Shanghai, with other brands such as Tiffany & Co., Hermes and Prada all expanding rapidly across China.

“Retailers’ expansion strategy reflects the global economic performance; however, luxury brands are less hit by the crisis than mid-class retailers.” –added Gábor Borbély, CEE Research Analyst at CB Richard Ellis. “Because of the better growth prospects luxury retailers have rather large BRICS countries on their radar and not the European Union at the moment. Central European cities attract obviously even less of such names compared to fashion capitals like Paris or London. Budapest retail market has not been too active with new brands opening recently; luxury retailers open significantly less stores than before the crisis.

Starting from this year, the Business Travel Show (BTS) is organised in cooperation between the founder, Turizmus Ltd, and Hungexpo Co.

The number of visitors is certain to increase compared to previous years since BTS will be staged along with Event Expo and the Hoventa hotel, catering and gastro-technology exhibition.

The Hungarian Government today announced that generic and specialty drug-maker Mylan Inc. will establish a pharmaceutical packaging center in the Komarom Industrial Park. The project is expected to add approximately 400 new jobs to the local economy over the next several years.

“Hungary needs such investments and such innovations that strengthen the Hungarian economy. Those do not destroy, but undisputedly build our country based on Hungarian small and medium-sized enterprises” – emphasized State Secretary for External Trade Relations of the Hungarian Government Zsolt Becsey at the investment announcement press conference on Thursday.

Mylan Chief Operating Officer Rajiv Malik commented: “We are very pleased to be expanding Mylan’s operations and presence in Hungary. After conducting a broad search for a suitable facility with the potential to expand, the opportunity in Komarom turned out to be an ideal fit. Not long from now, we’ll have a high quality, efficient packaging operation up and running that will be able to support our dynamic business and the local economy. Because our primary focus is to help provide pharmaceuticals to the world’s seven billion people, we are also looking forward to increasing our market share of high quality pharmaceuticals across the country.”

Mylan has acquired a 10,000 m2 facility in Komarom. The facility will be modified to become a packaging center for oral solid dosage tablets and capsules received from the company’s manufacturing sites. The project will be limited to packaging, warehousing and support functions such as quality control laboratories. Over the next five years, the center will be equipped with blister packaging lines, bottling lines and high potency drug packaging lines. The project also will involve the construction of a 17,500 m2 warehouse facility.

The entire operation will meet all good manufacturing practice (GMP) specifications of the European Medicines Agency, the U.S. Food and Drug Administration and the National Institute of Pharmacy in Hungary.

About Mylan

Mylan Inc. ranks among the leading generic and specialty pharmaceutical companies in the world and provides products to customers in more than 140 countries and territories. The company maintains one of the industry’s broadest and highest quality product portfolios supported by a robust product pipeline; operates one of the world’s largest active pharmaceutical ingredient manufacturers; and runs a specialty business focused on respiratory, allergy and psychiatric therapies.

GENEVA (ILO News) – Growing instability in financial markets and the sovereign debt crisis in Europe may put global economic and jobs recovery efforts at risk, according to a report by International Labour Office Director-General Juan Somavia to be discussed at the ILO’s annual conference.

“Major international actors have put the goal of quality jobs at the heart of recovery plans,” Mr. Somavia said in a report to be delivered to the International Labour Conference opening on 2 June. “There is growing concern that progress towards this goal could be at risk as a result of the dangerous new twist to the financial crisis.”

In the report “Recovery and Growth with Decent Work,” Mr. Somavia warns that despite signs of a “weak economic recovery … the risk of a new phase of the financial crisis around sovereign debt has appeared, jeopardizing prospects of growth for some countries, potentially affecting the global economy and again raising doubts about the stability of the international financial and monetary system.”

The report also notes that although output began to recover, unemployment continued to rise in many countries in 2010. The global unemployment rate is likely to remain high in 2010, at 6.5 per cent, or more than 210 million people worldwide. It warns that “for many working women and men, and for many enterprises in the real economy, recovery has not yet started”, adding that high unemployment raised the “spectre of a jobless recovery … in many countries.”

The report added that the share of workers in vulnerable employment worldwide was estimated to range between 49.5 and 52.8 per cent in 2009, which represents a potential increase of more than 100 million vulnerable workers since 2008.

“We know there is no sustainable recovery without jobs recovery,” Mr. Somavia said. “The test we face is to secure and accelerate a jobs-rich recovery and get onto a path of strong, sustainable and balanced growth that leads to the social stability provided by decent work for all. This is the foundation of a sustainable process of reducing deficits and debt, and is consistent with the Global Jobs Pact adopted by the International Labour Conference in 2009.”

The annual Conference is to host a number of discussions involving representatives of governments, workers and employers from the ILO’s 183 member States on ways of paving the way for a job-rich recovery and fostering a more sustainable and balanced growth. These include two high-level panels on 14 June that will discuss the role of productive employment and social protection in realizing internationally agreed development goals and the Millennium Development Goals.

The panels will also review progress in realizing the ILO Global Jobs Pact adopted last year in response to the global economic crisis and designed to guide national and international policies aimed at stimulating economic recovery, generating jobs and providing protection to working people and their families.

The Conference will also have a forward-looking discussion of employment trends and challenges over the next decade. The macroeconomic, employment, labour market, trade and investment policies required to promote full, decent and productive employment will be considered. At the same time, the discussion will cover the interrelationship between rights at work, social protection and social dialogue in reaching employment objectives in an integrated decent work approach set out in the ILO Declaration on Social Justice for a Fair Globalization adopted in 2008.

Special guest, H.E. Doris Leuthard, President of the Swiss Confederation, will address the opening session of the Conference.

The Conference will consider the elaboration of an international labour standard on HIV/AIDS in the world of work. In the format of an ILO Recommendation, this labour standard would be the first international human rights instrument entirely dedicated to HIV/AIDS. It has provisions on prevention programmes and anti-discrimination measures at national and workplace levels aimed at strengthening the contribution of the world of work to universal access to HIV prevention, treatment, care and support.

The Conference will start discussions on a new international labour standard on domestic workers with a view to the possible adoption of a Convention supplemented by a Recommendation in 2011. This discussion seeks to address the situation of a large and important, though often “invisible” and vulnerable, category of workers.

The Committee on the Application of Standards will hold a special sitting on 5 June to discuss the effect given by the Government of Myanmar to the recommendations of the Commission of Inquiry set up to examine the observance of the Forced Labour Convention, 1930 (No. 29). The Committee is also expected to select about 25 countries for a discussion on their application of specific Conventions.

During the plenary of the Conference, delegates will also address the latest ILO report on the situation of workers in the occupied Arab territories.

On 11June, the Conference will discuss a Global Report on Child Labour coinciding with the observance of the World Day Against Child Labour. This Day will also be marked with an event at the Place des Nations in Geneva. Hundreds of local school children will join civic leaders and send out a call for action, to “go for the goal-end child labour”, the theme of this year’s World Day.

Post-election MP distribution in the Hungarian Parliament

International media have guessed their way through the recent general elections, concerning Fidesz’s intentions upon achieving two thirds of constituents – a threshold that allegedly empowers a government to enact the deepest reforms democratically possible.

However, according to Budapest-based think tank Perspective Institute, Fidesz’s ‘two-thirds policy aims’ are clear. In a recent press release, the institute claims the new Government will alter voting law, slash the number of MPs and locally elected representatives, increase police presence, provide dual citizenship for all ethnic Hungarians and reform media law.

The organization suggests Fidesz “should” ease relations with Slovakia, manage Hungary’s upcoming EU presidency while enhancing CEE cooperation, elect a State and State Auditing Office (ASz) President and “strengthen its position” against the IMF.

Building on the highly successful State Partnership Program between Hungary and the State of Ohio, the Hungarian Ministry of Defense and the Hungarian Air Forces have invited the Ohio Air National Guard to participate in the upcoming Load Diffuser 2010 exercise at Kecskemet Air Base, Hungary.

Eight F-16s from the 178th Fighter Wing in Springfield, Ohio will deploy on 24 April to Kecskemet, where they will conduct maneuvers alongside Hungarian Gripens. The exercise will last three weeks, and will provide both sides with the opportunity to share best practices and learn from each other’s techniques and procedures.

The ultimate goal is that all participants will improve their ability to defend Hungarian airspace and meet NATO air policing commitments. This exercise is similar to the one held two years ago which was supported by F-15s from the Louisiana Air National Guard. The United States is once again proud to partner with the people of Hungary and share in this opportunity to build alliance capability in support of common national security interests.

U.S. Embassy Budapest

Airspace closure is lifted in Europe in various airports and various countries so Budapest Airport advises passengers with valid tickets to check first the airlines before they start out for the airport in Budapest. The weather situation may vary from hour to hour and day by day so it might take days or even weeks until air traffic in Europe gets back to normal. Airspace closure is lifted in Hungary until Tuesday 1.59 AM, 20th April. Thousands of passengers had to change their bookings or had to cancel their flights and there were hundreds of flight cancellations in Budapest alone.

Budapest Airport

We advise passengers who were due to fly this time should contact their airline. Because of this situation, we suggest nobody to travel to the airport, as no air traffic expected until Saturday night.

According to the Office of Immigration and Nationality For EGT nationals who currently hold a still valid, but in a few days – during the given situation – exceeding Schengen or LTV (Hungary) visa for a period determined up to 3 months, we provide an opportunity to extend their visa for free of charge. The visa extension takes place on April 17-18, 2010 at the Office of Immigration and Nationality (Budapest, Budafoki u. 60., tel.: 463-9299).
During flight restrictions strengthened international rail service is available at MÁV Start. Rail ticket offices operate in extended opening hours.

Budapest Airport

The report, entitled “Women in labour markets: Measuring progress and identifying challenges”[1], says that more than a decade after the 4^th World Conference on Women in Beijing adopted an ambitious global platform for action on gender equality and women’s empowerment, gender biases remain deeply embedded in society and the labour market.

The ILO report shows that the rate of female labour force participation has increased from 50.2 to 51.7 per cent between 1980 and 2008, while the male rate decreased slightly from 82.0 to 77.7 per cent. As a result, the gender gap in labour force participation rates has narrowed from 32 to 26 percentage points.

The increases in female participation were seen in all but two regions, Central and South-Eastern Europe (non-EU), and the CIS countries and East Asia, with the largest gain seen in Latin America and the Caribbean. In almost all regions, though, the rate of increase has slowed in recent years. It was in the 1980s and early ‘90s that gains in numbers of economically active women were strongest.

At the same time, the share of women in wage and salaried work has grown from 42.8 per cent in 1999 to 47.3 per cent in 2009, and the share of vulnerable employment decreased from 55.9 per cent to 51.2 per cent.

“While there have been areas of improvement since the Beijing conference and more women are choosing to work, they still don’t enjoy the same gains as men in the labour markets”, said Sara Elder of the ILO’s Employment Trends unit and main author of the report. “We still find many more women than men taking up low-pay and precarious work, either because this is the only type of job made available to them or because they need to find something that allows them to balance work and family responsibilities. Men do not face these same constraints.”

The report shows that there are three basic areas of lingering gender imbalances in the world of work. First, nearly half (48.4 per cent) of the female population above the age of 15 remain economically inactive, compared to 22.3 per cent for men. In some regions, there are still less than 4 economically active women per 10 active men. Second, women who do want to work have a harder time than men in finding work. And third, when women do find work, they receive less pay and benefits than the male workers in similar positions.

“Labour markets and policies must be much more attuned to a broader paradigm of gender equality, one that adapts and builds on the unique values and constraints of both women and men,” Ms. Elder said. “Faster and broader progress towards equality in occupations and employment opportunities is required and possible”.

The ILO report says the initial impact of the global economic crisis was felt in sectors dominated by men, such as finance, manufacturing and construction, but the impact has since expanded to other sectors – including services – where women tend to predominate.

The ILO estimates that the global female unemployment rate increased from 6.0 per cent in 2007 to 7.0 per cent in 2009, slightly more than the male rate which rose from 5.5 to 6.3 per cent. But in four of the nine regions, it was the male unemployment rate that rose more than the female. In 2009, female unemployment rates were higher than male rates in seven of nine regions, and in the Middle East and North Africa the difference was as high as 7 percentage points.

The report also says that while women and men workers may now be almost equally affected by the crisis in terms of job losses, the real gender impact of the crisis may be yet to come.

“We know from previous crises that female job-losers find it more difficult to return to work as economic recovery settles in,” Ms. Elder said. “That’s why it is important to ensure that gender equality is not a fair weather policy aim that falls aside in the face of hard times. It should be seen as a means to promote growth and employment rather than as a cost or constraint”.

Jane Hodges, Director of the ILO’s Bureau for Gender Equality, noted that the 15 years since Beijing had provided important lessons in terms of what works for working women and gender equality. She said the resolution on Gender Equality at the Heart of Decent Work, adopted by the 2009 International Labour Conference, will guide ILO constituents’ efforts towards a labour market in which all women and men can participate freely and actively, including efforts to facilitate women’s economic empowerment through entrepreneurship development, address unequal remuneration between women and men, enhance social protection for all and strengthen women’s participation in social dialogue.

On 8 March, the ILO will mark International Women’s Day at its headquarters in Geneva and other offices around the world. The Geneva event will bring together experts from governments and employers’ and workers’ organizations from diverse countries and backgrounds for a panel discussion on “What works for working women”.