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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
VIG Generates Profits in Poland
Vienna Insurance Group Polska (VIG) generated a gross profit of PLN 229m last year.
February 25, 2014
Austrian Bank Secrecy to be Abolished by 2016
EU Commissioner Algirdas Semeta recently stated that bank secrecy in Austria will expire since by then the automatic exchange of information will be implemented as a standard.
February 24, 2014
Austria: Inflation Drops Again
Inflation in Austria dropped to 1.5 percent in January due to the winter sales.
February 24, 2014
Warsaw Stock Exchange Registers Profits
The operator of Warsaw Stock Exchange (WSE) GPW saw an increase in profits in the business year 2013.
February 24, 2014
Austria: Wifo Projects Gloomy Economic Outlook
A restrained economic growth, high unemployment rate and measures for the consolidation of the state budget are the factors which affect the economic development on a medium-term.
February 21, 2014
Serbia: Structural Reforms to Boost FDI
Recent projections of the National Bank of Serbia (NBS) forecast foreign direct investments (FDI) to increase to € 1bn this year up from € 750m.
February 21, 2014
Romania: President Fires Financial Supervision Authority
President Basescu fires the entire staff of the Romanian Financial Supervision Authority (ASF).
February 20, 2014
Serbian Governor: Banking Sector Stable
According to Tabakovic, governor of NBS, the Serbian banking sector was solvent and well-capitalized.
February 20, 2014
Montenegro Gets Own Embassy in Romania
On Tuesday Montenegro opened its first embassy in Romania.
February 19, 2014
Poland Ranks High in FDI Attractivity
Polish cities are still very attractive for FDI, according to fDI Intelligence.
February 19, 2014
Czech Republic: New Government Passed Vote of Confidence
The new Czech government under Prime Minister Bohuslav Sobotka has passed the vote of confidence in parliament yesterday.
February 19, 2014
Poland: PKO BK Still Wants to Take Over Nordea
PKO BP had to extend the subscription period for the second time.
February 18, 2014
Poland: Strong Prospects for High Growth
Prime Minister Donald Tusk is positive Poland will achive a GDP growth of more than three percent this year.
February 18, 2014
Nowotny: Negative Interest Rate Conveys Feeling of Crisis
Ewald Nowotny, member of the Council of the ECB (European Central Bank) and governor of the Austrian National Bank (OeNB), expressed his rejection regarding a possible negative interest rate for banks.
February 18, 2014
Czech Republic: Government Asks for Vote of Confidence
The new Czech government was appointed at the End of January. On Tuesday Prime Minister Bohuslav Sobotka and his cabinet will ask for a vote of confidence in parliament.
February 18, 2014
Cooperation between Vienna and Warsaw Stock Exchanges to Kickstart 2014
As announced by Adam Maciejewski, CEO of GPW, the operator of the Warsaw Stock Exchange (WSE), the cooperation between WSE and VSE (Vienna Stock Exchange) could be completed this year.
February 17, 2014
Austria: Economic Upturn Still in Standby-Mode
According to the analysis of the economic indicator of Bank Austria, there is moderate growth and hope for the first quarter in 2014.
February 17, 2014
Vienna Insurance Group Expands Market Leadership in Slovakia
The Group expands its position as the number one in the core market Slovakia. Strong growth above market average. Increase in premiums in all lines of business.
February 17, 2014
Fitch Keeps Polish Sovereign Rating Unchanged
The U.S. rating agency has reassessed Poland´s sovereign debt rating.
February 15, 2014
Poland: PKO BP Planning to Establish Mortgage Bank
The Polish bank intends to found a mortage bank around the beginning of the year 2015.
February 14, 2014
Serbia: Key Rate Kept Untouched
The board of the National Bank of Serbia (NBS) underlined the importance of a cautious monetary policy in the light of the current economic developments.
February 14, 2014
Slovakia: Vote of No Confidence against PM Failed
The vote of no confidence against Prime Minister Robert Fico failed in parliament.
February 14, 2014
Serbia: FDI of Great Importance for Economy
According to Deputy Prime Minister Vucic, the country’s biggest problem was the rate debt rate and fiscal deficit.
February 14, 2014
Singer: “Forex Interventions Were Right Measures”
Miroslav Singer, Governor of the Czech National Bank (CNB), considers the forex intervention and the weakening of the Czech Crown as the right measures in the light of the most recent inflation figures.
February 13, 2014
Poland: Consumer Loans Expected to Rise Significantly
Last year consumer loans saw a 16 percent growth which leads to expecations that Poland will register a double-digit growth rate in 2014 as well.
February 12, 2014
Hypo Group: Bad Bank Active at Least 10 Years
Austria’s rating by Standard & Poor’s (“AA+”, stable outlook) is currently not compromised. Because of the establishing of the bad bank the debt rate will rise four to six percent.
February 12, 2014
Erste Group: Net Results Below Expectations
Erste Group provides business update for 2013: Improvement in risk costs is outweighed by one-off items and tax effects, impacting net profit
February 11, 2014
Poland: Sharp Decline in Insurance Prices
Insurance policy prices dropped almost 30 percent last year.
February 11, 2014
Austria: Hypo Group Becomes Fiasco for Taxpayers
The most expensive solution for the winding up of troubled Hypo Group becomes imminent.
February 11, 2014
Poland: Economic Growth to Speed Up
According to the Economy Ministry’s forecast, economic growth is supposed to come at 3 percent of GDP year-on-year this year. Inflation, on the other, is expected to come at 2 percent.
February 10, 2014
Serbia: Inflation Requires New IMF Agreement
In the light of a devaluation of the Dinar Serbia needs a new agreement with the IMF to improve funding and accelerate the realization of reforms.
February 10, 2014
Poland: Slight Drop in 2013 Banks’ Profits
Polish banks displayed a total net profit of PLN 15.43 billion in the financial year 2013, which is a slight decrease of 0.3 percent on an annual comparison basis.
February 10, 2014
“We Want to Return to the Mainstream”
The new Czech Prime Minister Bohuslav Sobotka announced that the country will become a member of the EU Fiscal Pact.
February 7, 2014
Czech Republic. Euro Adoption Causes Dispute Within the Cabinet
Czech Minister of Foreign Affairs Lubomir Zaoralek (CSSD – Czech Social Democrats) wants to adopt the euro as soon as possible. Minister of Finance Andrej Babis rejects that idea.
February 7, 2014
Hungary: Why Orban Faces Another Victory
At the beginning of April, Hungary will hold elections. Despite a high level of dissatisfaction and political frustration, there will be no government change.
February 7, 2014 · Updated: February 7, 2014; 17:59
Czech Republic: CNB Demonstrates Optimism
The Czech National Bank has revised the economic outlook. Domestic demand remains is expected to remain weak.
February 7, 2014
Standard & Poor´s Underlines Poland´s Economic Robustness
The U.S. rating agency S&P keeps Poland´s sovereign debt rating unchanged. The outlook remains stable.
February 7, 2014
FHB Bank Acquires Stake in Takarek Bank
The largest Hungarian mortgage bank becomes a core shareholder of the Hungarian savings bank Takarek Bank. Takarekbank is an umbrella bank for the Hungarian savings bank sector.
February 7, 2014
Romania: Chitiou Has Lost Support from PNL
As reported by Vindobona, Romania´s Minister of Finance has decided to leave the government. According to rumors, the resignation was forced by senior PNL members.
February 7, 2014
Romania: Minister of Finance Quits
Minister of Finance Daniel Chitoiu is said to leave the Romanian cabinet.
February 6, 2014
Croatia: Optimism Despite Difficult Frame Conditions
After six consecutive years of negative growth rates, Croatia´s economy is still far away from a recovery. Nevertheless, Croatian entrepreneurs are relatively optimistic.
February 6, 2014
Czech National Bank Retains Monetary Strategy
The Czech National Bank keeps the reference rate at the record low and confirms its commitment to continue interventions.
February 6, 2014
Poland: Public Debt Falls Significantly
Due to the nationalization of the pension funds OFE, Poland´s public debt quota goes down to 50% of GDP.
February 6, 2014
Fitch Criticizes European Stress Tests
The rating agency argues that there is still a lack in technical details. Regarding the robustness of the stress tests, Fitch demonstrates skepticism.
February 6, 2014
Poland: Interest Rate Remains Unchanged
The National Bank of Poland (NBP) has kept the reference rate stable at 2.50%. As the zloty has begun to weaken, the pressure on NBP is growing.
February 6, 2014 · Updated: February 6, 2014; 10:24
Romania Reaches Agreement With IMF
Romania has met the criteria to receive a stand-by agreement by the International Monetary Fund.
February 5, 2014
Hungarian National Bank: Market Manipulation Caused Fall in Forint
Hungary´s currency is under pressure again. In the last few weeks, the Forint has fallen substantially against the euro.
February 5, 2014
Roubini: Hungary in Difficulties
A number of emerging countries are facing enormous problems, according to economist Nouriel Roubini. Also countries in Central, Eastern and Southeastern Europe are affected.
February 5, 2014
Poland: Economic Growth to Accelerate Further
Today, the U.S. rating agency Fitch has revised its economic forecast.
February 5, 2014
Czech Republic: Rusnok to Become CNB Board Member
Czech President Milos Zeman will appoint former Czech prime minister Jiri Rusnok as new board member of the Czech National Bank.
February 4, 2014
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