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Vienna's Foreign and Bilateral Relations
Read the latest headlines about bilateral relations in the areas of economy, business, diplomacy, culture and tourism between Austria and its partners
Czech Republic: CNB Concerned about Private Households
In regard to the most recent forex intervention, the Czech National Bank (CNB) has expressed concern about private households, which would be affected for a longer period since savings as well as income will drop.
November 13, 2013
Controversy Over Special Taxes in Romania
The Romanian government plans to impose new taxes in 2014. Foreign investors may leave the country.
November 12, 2013
IMF Puts Pressure on Croatia
Although Croatia´s economic situation will improve slightly next year, the country is seen as next bail-out candidate. The International Monetary Fund wants Croatia to accelerate economic reforms.
November 12, 2013
Austria: Downsizing Options for Hypo Group under Discussion
In the discussion about establishing a downsizing unit for ailing bank Hypo Group Alpe Adria, several possibilities are taken into account.
November 12, 2013
Half of Austrians Consider the Country Stuck in Recession
According to an online survey, the Austrians are confident and not concerned by the most recent recession in the Eurozone. With a total of 87 index points consumer’s confidence remained stable in the third quarter of 2013.
November 12, 2013
Czech President Sceptical about CNB’s Forex Intervention
Czech President Zeman expressed his reservations about the Central Bank’s latest forex interventions.
November 12, 2013
Poland: Favorable Economic Outlook
According to the European Bank for Reconstruction and Development (EBRD), the Polish economy will see an upswing next year.
November 12, 2013
Atrium European Real Estate Limited / Quarterly Report
Atrium European Real Estate Limited / Quarterly Report
November 12, 2013
Croatia: IMF as Last Exit
It is likely that the ailing country is seeking assistance from the IMF. Borrowing in 2014 is risky, Finance Minister Slavko Linic said.
November 11, 2013
Nowotny Against ECB’s Key Rate Cut
The governor of the Austrian National Bank has, according to reports, voted against the ECB’s most recent interventions.
November 11, 2013
Romanian Inflation Forecast Adjusted by NBR
The National Bank of Romania (NBR) has adjusted the inflation forecast downward for 2013 and 2014.
November 11, 2013
Bulgarian Banks Suffer from Low Customer Creditworthiness
According to the EBRD, the Bulgarian banks are a source of funding for their parents.
November 9, 2013
Serbian Banking Sector: Weak Regulatory Environment
In the last years, Serbia´s banking industry did not record any significant growth impulses. Foreign-exchange loans were reduced substantially.
November 9, 2013
Romanian Banking Sector Highly Centralized
The EBRD has observed a high proportion of banks reporting that the parent bank´s influence is high.
November 9, 2013
Croatia´s Banking Sector Remains Competitive
The Croat legal system is perceived as major weakness. Credit demand is going down for years.
November 9, 2013
Frame Conditions for Banks Remain Difficult in Hungary
The Hungarian banking sector is highly dissatisfied with the regulation environment, the European Bank for Reconstruction and Development reported.
November 9, 2013
Slovakia: Weak Credit Demand
Due to the lack of credit demand, lending is below its potential. Foreign banks in Slovakia are relatively independent from their parents.
November 9, 2013
Czech Banking Sector Strongly Influenced by Foreign Banks
The EBRD has published the “Banking Environment Performance Survey”. Foreign parent banks exert a strong influence on their subsidiaries.
November 9, 2013
Poland: Solid Banking Sector
According to the European Bank for Reconstruction and Development, the perceived regulation pressure is too high for Poland´s banking sector.
November 9, 2013
Slovakia: Property Prices on the Fall
The Slovak property market continues the downward trend. In late summer, property prices have reached a five-year low.
November 8, 2013
BNP Shows Interest in Taking Over Polish BGZ
In the race for the Polish lender BGZ, the biggest French bank BNP Paribas enters the stage.
November 8, 2013
Czech National Bank Starts Currency Interventions
In order to stop the recession in the Czech Republic, CNB eases monetary policy further.
November 8, 2013
Interest Rate Cut: “Very Effective Property Tax“
Economists have judged the ECB’s cut in interest rate differently. According to Brezinschek, chief analyst at Raiffeisen International, savers that are not involved in speculative investments will not benefit from the latest key rate cut.
November 8, 2013
Serbia: Key Policy Rate Cut to 10 Percent
In its meeting on November 7, the NBS Executive Board voted to cut the key policy rate by half a percentage point, to 10 percent.
November 8, 2013
Stable Outlook for Recovery of Austrian Economy
The outlook for economic improvement has stabilized. Both Wifo’s economy test and Wifo’s early indicator point to an upward trend.
November 8, 2013
Czech Republic: Economic Outlook Improves
In its latest forecast, the Czech National Bank (CNB) has corrected the outlook on the Czech economy upward for the rest of 2013 while estimates for 2014 were slightly downgraded.
November 8, 2013
Komercni Banka Posts Lower Net income
Today, Czech Komercni Banka published the third quarter results. Lending was up by 2.9%, deposits grew by 4.8%. Net income was down by 7.75.
November 7, 2013
Eurozone: Key Rate At Record Low
Low inflation was reason for ECB to lower key rate again by 0.25 percent.
November 7, 2013
ECB to Keep Interest Rate Low
Despite a low inflation, the European Central Bank (ECB) will keep the interest rate low. The Council of ECB has held a meeting on Thursday morning
November 7, 2013
Poland´s National Bank Holds Interest Rate Flat
In order to boost economic growth, the Polish Monetary Policy Council has left the interest rate unchanged.
November 6, 2013
Romania: Key Rate Cut Again
The most recent cut was the fourth in a row since the beginning of July. Experts forecast the rate cutting cycle to stop in the first quarter next year when the country’s key rate is supposed to stand at 3.5 percent.
November 6, 2013
Serbia: Only Minor Growth Expected
In 2014 the Western Balkan state is expected to achieve only an insignificant economic growth rate.
November 6, 2013
Banking Sector: Difficulties in Croatia Ahead
In order to protect indebted home-owners, the Croat parliament will resolve a new bank act. Like in Hungary, foreign-exchange-based mortgage should be converted at the expense of banks.
November 6, 2013
Hungary: Parliament Resolves Bank Act
The Hungarian banking sector, which is dominated by Austrian banks, faces new difficulties.
November 5, 2013
Austria: Compulsory Levy on Assets Simply “Out of Question“
Top bankers and economists in Austria consider the compulsory levy of ten percent on household assets “out of question” and “ludicrous”.
November 5, 2013
Hypo Group: Restraining Effect on Budget Consolidation
According to the EU’s autumn prognosis, nationalized Hypo Group and its liabilities running in the billions still have a restraining effect on the Austrian budget consolidation.
November 5, 2013
Number of Banks Shrinks Substantially
Since 2008, about 10% of the banks had to be closed in the Eurozone. In the last five years, 16,200 bank shops were shut down. In Austria, the situation is almost the same.
November 5, 2013
Slovakia Imposes Tax on Tax Evasion
In order to reduce the capital outflow, Slovakia imposes a 35% tax rate on transactions to tax havens.
November 4, 2013
Czech Republic Crawls Out of the Recession
The recession in the Czech Republic comes to an end. Fixed investments are still the main weak point.
November 4, 2013
Croatia: Excessive Deficit Procedure Ahead
Neither in 2013 nor in 2014, Croatia will achieve a budget deficit below 3.0% of GDP.
November 4, 2013
IMF Wants to Introduce Compulsory Tax
IMF’s idea of introducing a compulsory tax on household assets could decrease state debt earns harsh criticism. Economists reject the idea.
November 4, 2013
Hungary: Another Bad Surprise for Banks
The Hungarian government plans to shift even more burdens to the banking sector. Costs for the banking sector will reach more than € 3.5bn.
November 4, 2013
Eurozone: Inflation Continues to Decrease
Euro area annual inflation down to 0.7 percent.
November 4, 2013
Atrium European Real Estate Limited / Notice of third quarter results
Atrium European Real Estate Limited / Notice of third quarter results
November 4, 2013
Czech Growth Outlook Revised
The Czech Ministry of Finance has improved its economic forecasts.
November 1, 2013
Hungary: Unemployment Continues Downward Trend
In September, Hungary´s unemployment rate was down by 0.6 percentage points. The number of jobseekers is 8.1% less than in 2012.
November 1, 2013
Hungary: Moderate Increase in Foreign Trade
From January to August 2013, Hungary´s export volume was up by 1.4%. Imports increased by 0.4% year-on-year.
November 1, 2013
Slovakia: Exports Are Key Driver for Growth
Last year, Slovak exports were up by 9.4%. The main export products are automotive products and electronics. Germany is Slovakia´s main trade partner.
November 1, 2013
Czech Republic: Consumer Loans Weaken
The Czech loan growth is mainly driven by housing loans. The overal loan structure is improving, the NPL level remains flat.
November 1, 2013
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