Read the latest headlines about bilateral relations in the areas of economy, business, diplomacy, culture and tourism between Austria and its partners
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Vienna's Foreign and Bilateral Relations

OTP Bank Shows Interest in Volksbank International

The Austrian Volksbanken AG found a second potential buyer for its Eastern European subsidiary. The Hungarian OTP bank wants to expand into the markets where VBI has a presence.

July 7, 2011

Plansee Group Achieved Sales Record

The Austrian provider of metallurgically manufactured products increased revenue by 46%. A new factory near Shanghai is scheduled to start operation in 2012.

July 7, 2011

S Immo Increases the Occupancy Rate of its Hungarian Portfolio

The Austrian real estate company’s Hungarian subsidiary leased out nearly 4,000 m² in the heart of Budapest. The vacancy rate was reduced to below 9%.

July 7, 2011

Casinos Austria Withdraw from Project in Liechtenstein

The Austrian gaming group had applied for the only casino concession in the principality. It now decided to give up its plans due to widely differing ideas of its partner.

July 6, 2011

Contractual Penalty for Kapsch in Poland

The Austrian technology group did not manage to finish work on an electronic toll collection system in time. Thus, the company will have to pay a contractual penalty.

July 6, 2011

Austrian Companies to Participate in Russian Research Center

The planned technology park will be home to up to 40,000 researchers. Twenty Austrian companies have expressed interest in participating in the project.

July 5, 2011

Sale of VBI to Be Signed in July

The Austrian Volksbanken Group and Sberbank have come close to an agreement on the sale of the Eastern European bank. The transaction price will be € 700m.

July 5, 2011

VIG Interested in Acquisition of Polish Warta Insurance

The Austrian insurance company might strengthen its position in the Polish market with the acquisition of a local company.

July 4, 2011

RHI: Plans for New Plant in the US

The Austrian producer of refractory materials intends to open a new factory in the US. In the long run, bricks for the North American market will be produced locally.

July 4, 2011

Verbund: Speculations about Increase in Sorgenia Stake

The Austrian electricity company might sell its shares in Poweo and instead acquire its joint venture partner’s stake in Sorgenia.

July 1, 2011

voestalpine is the Leniency Applicant in the German Rail Cartel

The Austrian steel company applied for leniency in the case of anti-competitive practices in the German rail tracks market. The group expects to be exempted from any fines.

July 1, 2011

Moody’s Gives Negative Outlook for Carinthia

Austria’s southernmost province received a negative outlook due to an increasing budget deficit, high debt and credit guarantees for Hypo Alpe Adria.

July 1, 2011

Kapsch TrafficCom Makes Important Step in Russia

A joint venture of the Austrian technology group has made it to the final stage of a tendering process for a Russian highway project.

July 1, 2011

Successful Start for RBI’s Direct Bank Zuno in Slovakia

18,000 Slovak customers have deposited a total amount of € 125m in the first six months since the bank entered the market in December 2010.

June 30, 2011

RBI: Acquisition of Polbank Stake Advancing

The Austrian bank has received anti-trust approval of the deal. Closing and operational merger are expected in Q4/2011 or Q1/2012.

June 30, 2011

Wilhelm Molterer Appointed Vice-President of the EIB

The former Austrian Vice Chancellor and Finance Minister will start his new job as Vice-President of the European Union’s bank on 1 July.

June 30, 2011

bwin.party to Start Share Buy-Back and Dividend Payments

The Austro-British gambling group starts paying dividends this year. Shares for up to € 75m will be bought back by the company.

June 30, 2011

Increase in Austrian Electricity Price below EU Average

Electricity and gas are relatively expensive in Austria compared to other EU countries. The electricity price rose by 1.1% in 2009/10.

June 29, 2011

Austria in the Upper Third of Comparative Price Levels across Europe

Austria recorded the eighth highest price level among the 27 EU member countries. Food and energy were found to be the most expensive segments in the country as compared to European prices.

June 28, 2011

Verbund to Restructure Its Portfolio

The Austrian electricity company is negotiating the sale of French Poweo. Eni and Enel are said to be interested in an acquisition.

June 27, 2011

Uniqa Sold Stake in Romanian Company

The Austrian insurance group sold its 27% holding in Astra for € 25m to the Nova Group.

June 27, 2011

voestalpine Acquires Dutch Company’s Research Department

The Austrian steel company expands its portfolio in railway systems technology with the acquisition of Baas R&D. The transaction is expected to boost expertise in diagnostic systems for rail transport.

June 27, 2011

Bronze Medal for Austria’s Economy

According to a study by Allianz, Germany is the euro zone country with the healthiest economy. Luxembourg comes on the second rank followed by Austria.

June 21, 2011

Austrian Financial Sector Stable – Remaining Challenges in Particular Business Segments

Stress test results show Austria’s banks to be more resistant to risks than in 2010 – Boosting equity remains on the agenda nevertheless.

June 21, 2011

Emerging Markets Boosting FACC

The Austrian aircraft component manufacturer relies on joint ventures in order to benefit from strong growth in emerging markets.

June 20, 2011

conwert Interested in Billion-Euro Deal with LBBW

The Austrian real estate company is looking for partners to purchase the residential property portfolio of the German bank. Industry experts see a realistic chance for an acquisition.

June 20, 2011

CA Immo: Uniform Brand Appearance also in Germany

In the future, the Austrian real estate group’s German subsidiary Vivico Real Estate GmbH will operate under the brand "CA Immo".

June 20, 2011

Austrian Companies Interested in Greek Lottery

As Greece is forced to put its assets on sale, Austrian gaming companies see chances for an acquisition of the country’s national lotteries.

June 17, 2011

Verbund: New Wind Farm in Romania

The Austrian electricity company will invest “several hundred million euros” in 77 new wind wheels which will go into service in 2012.

June 17, 2011

Immofinanz Acquires Romanian Property Developer

The Austrian real estate company buys the remaining stake for € 42.43m in order to become sole shareholder of Bucharest-based Adama.

June 16, 2011

Raiffeisen Expanding Its M&A Business in Russia

The Austrian bank group is planning a joint venture between RBI and RIAG in order to put the investment banking in Moscow on a new footing.

June 16, 2011

Building Project for Strabag in Sweden

The Austrian construction company is going to develop over 15,000 m² of residential and retail space. The project has a volume of SEK 600m (€ 67m) and will be completed in 2013.

June 16, 2011

austriamicrosystems Acquires US-based Company

The Styrian microelectronics and semiconductor manufacturer is going to buy 100% of the shares in an American light sensor supplier for $ 320m (€ 220m).

June 16, 2011

No Money from Al Jaber: Restructuring of Kneissl Has Failed

The last attempt to rescue the Tyrolian ski manufacturer has failed as majority owner Al Jaber has not transferred the € 2.1m necessary to continue business. The company will be liquidated.

June 15, 2011

Palmers on the Way Back to Black Figures

The Austrian lingerie group’s results are still negative due to the acquisition of Lejaby. An expansion of the Palmers brand is planned in Germany and CEE.

June 15, 2011

Hungary Considering Buyback of ÖBB’s Rail Cargo Hungaria

The Hungarian state is interested in acquiring a stake in the Austrian Federal Railways’ cargo subsidiary which it privatized in 2008.

June 14, 2011

Immofinanz Acquires Office Property in Warsaw

The Austrian real estate company already held 51% of the property and is now becoming the sole shareholder. The transaction includes the sale of another object to a project partner.

June 10, 2011

Verbund Evaluating Future Options for Sorgenia

The Austrian electricity company and its partner, the Milanese industrial holding CIR, will decide about the future shareholder structure of their joint venture.

June 9, 2011

ÖBB with Capital Injection for Its Italian Freight Business

The Austrian Federal Railways’ subsidiary Linea needs additional funding in order to cover its last year’s losses of € 5.8m.

June 9, 2011

Nuclear Power Phase-Out Will Cost Austria € 600m

According to calculations by E-Control, Germany’s decision to close down its nuclear power plants will affect the Austrian economy.

June 9, 2011

Trade with the Czech Republic Is Booming

Austrian companies increased their exports to the country by 32% in the first quarter of the year. In 2010, Austria was the biggest foreign investor.

June 9, 2011

New Motorway Order for Strabag in Romania

The Austrian construction company is going to build a motorway section between the cities of Orăştie and Sibiu. Order volume amounts to € 166m.

June 7, 2011

Swarovski to Invest in US Jewelry Retailer

The Tyrolean optics and crystal group is attracted by a global distribution network of 2,000 stores. The two companies already have a strategic partnership.

June 7, 2011

New Chance for Verbund in Turkey

The Austrian electricity company might win a contract for the power supply in three Turkish provinces after a competitor has withdrawn its bid.

June 6, 2011

Austrian Companies on Roadshow to New York

The 2nd Austrian Equity Day in New York, co-organized with Crédit Agricole Cheuvreux, will be held on Monday, 6 June 2011.

June 3, 2011

Charges against Former Board Members of BayernLB

Accusations relating to the acquisition of the Austrian Hypo Group: breach of duty, embezzlement of bank funds.

June 3, 2011

UniCredit and Raiffeisen Seek to Broker Bulgaria's EVN Stake Sale

Bulgaria is going to sell its minority stake in an electricity distributor operated by the Austrian energy company.

June 3, 2011

CA Immo Starts Work on Shopping Center in Frankfurt

The Austrian real estate group and its joint venture partner invest € 360m into the project. The opening will take place in fall 2013.

June 1, 2011

Hypo Alpe Adria to Sell its Italian Subsidiary

The Carinthian bank intends to divest its operations in the neighboring country. The subsidiary achieved a profit of € 10.82m in 2010.

June 1, 2011

Kneissl: Creditors Accept Restructuring Plans

Al Jaber has to pay € 2m into an escrow account before June 15. Otherwise, the Tyrolian company will be liquidated.

June 1, 2011