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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 Industry Highly Dominated by Foreign Investors
In total, 42% of the company´s capital is controlled by non-domestic investors. This is the result of a study compiled by Bisnode.
August 2, 2013
Eurozone: Inflation Remains Stable
Flash estimates show the Euro area annual inflation is stable at 1.6 percent.
August 1, 2013
Turkey: Tear Gas Against Protesters Again
Once more, the Turkish police uses tear gas to fight off protesters.
August 1, 2013
Romania: Drop of VAT on Bread and Baked Goods
Around 70 percent of Romanian bread and baked goods are sold on the black market. A drop in VAT is supposed to change that.
July 31, 2013
Eurozone: Business Investments Decreased to 18.8 Percent
Business investment rate down to 18.8% in the euro area and to 18.3% in the EU27 Business profit share at 37.7% and at 37.2% respectively
July 31, 2013
Eurozone: Household Real Income Increased 0.5 percent
Household saving rate up to 13.1% in the euro area and to 11.0% in the EU27 Household real income per capita increased by 0.5% in the euro area
July 31, 2013
Poland: Estimates for 2014 Lowered
Forecast by IbnGR: Poland's GDP will grow 1.2 percent in 2013 and 2.6 percent in 2014.
July 30, 2013
Poland: Foreign Trade Deficit Grows Substantially
Poland's final 2012 trade deficit comes at € 10.584 bn, according to statistics office.
July 30, 2013
Russia: Stronger Regulations for Market for Consumer Loans
Business with consumer credits have started comparatively late in Russia. Now, the market is supposed to be regulated further.
July 29, 2013
ECB: No Risk of Deflation in Europe
The European Central Bank (ECB), in contrast to the International Monetary Fund (IMF), does not see the danger of a general downward trend in prices with all its negative effects for the economy.
July 29, 2013
Czech Republic: President Zeman Names 15 New Ambassadors
The step had been delayed for several months over Zeman’s dispute with Foreign Minister Karel Schwarzenberg over the filling of ambassadorial posts in Bratislava and Moscow.
July 26, 2013
Czech Republic to Remain in Recession
The Czech economy will, according to the Finance Ministry in Prague, shrink by 1.5 percent and only start growing again in 2014 by 0.8 percent.
July 26, 2013
Poland: President Komorowski Most Trusted by Citizens
Poles trust president much more than party leaders.
July 26, 2013
Hungary Abandons Radical Resolution On Foreign Exchange Loans
Foreign currency denominated mortgages for home purchases shall be phased out.
July 25, 2013
Czech Republic: CEZ to Postpone Completion of Temelin
Czech energy company CEZ announced that the decision for the finalization of nuclear power plant Temelin will take at least a year longer than planned.
July 25, 2013
Poland: Opposition Calls for Parliamentary Inquiry
PiS chief opposition calls for parliamentary inquiry into public finances.
July 24, 2013
Austria: Economists Predict Rosy Days
The Austrian economy will be growing by 1.7 percent on an annual basis and is developing much better than the rest of the Eurozone, the Austrian Institute for Higher Studies (IHS) predicts.
July 24, 2013
Poland: Dispute Between NBP and Finance Ministry
Finance Minister Jacek Rostowski and Governor of Polish National Bank Marek Belka are blaming each other for the poor performance of Poland´s economy.
July 23, 2013
Orban: Not Joining Eurozone in the Next Ten Years
Hungary´s Prime Minister thinks that his country should not become a member of the euro area in the medium term.
July 23, 2013
Russia: Inflation on the Rise
In the first six months of 2013, the inflation rate came at 3.5%. Compared to the reference period of 2012, the inflation rate was up by 0.4 percentage points.
July 23, 2013
Turkish National Bank Raises Base Rate
Today, Turkey´s National Bank has increased the base rate from 6.5% to 7.25%. Turkey wants to prevent a devaluation of the lira.
July 23, 2013
Hungarian Central Bank Cuts Base Rate Again
At its meeting on 23 July 2013, the Monetary Council reviewed the latest economic and financial developments and voted to reduce the central bank base rate by 25 basis points from 4.25% to 4.00%, with effect from 24 July 2013.
July 23, 2013
Poland: Economic Trend Reversal Likely
In the 1st half of 2013, together with still unfavourable business tendencies on global markets, the economic slowdown maintained in Poland. However, forecasts give reason for cautious optimism..
July 23, 2013
Hungary Plans New Burden for Banks
Hungarian households are still over-indebted. Prime Minister Viktor Orban aims to help them on the expense of the banking sector.
July 23, 2013
Poland to Enter the Eurozone in the Medium Term
The biggest new EU member country will become a member of the Eurozone, political observers say unanimously. The only question is when.
July 23, 2013
Russia: Recession Not Excluded Anymore
Above all, Russia suffers from a shrinking industrial sector and a decline in foreign direct investments.
July 22, 2013
Poland: Budget Deficit to Peak in 2013
This year, Poland´s budget deficit is expected to reach 4.4% of GDP. The country still has a stable public sector, Moody´s comments.
July 22, 2013
Czech Banking Industry Reduces Lending Significantly
According to a survey issued by the Czech National Bank, banks tightened their credit standards in all the monitored credit market segments in 2013 Q2.
July 22, 2013
Hypo Group Needs Even More Money
The nationalized Austrian bank needs fresh funds of more than € 700m. For the Austrian taxpayers, the banking package becomes more and more costly.
July 21, 2013
NBP Wants Government to Adapt Budget
After the Polish government has announced to postpone its austerity plans, the National Bank of Poland calls the government to submit an updated fiscal outlook.
July 19, 2013
Hungary: Net Earnings Grew Substantially
In the national economy – at corporations employing at least 5 persons, budgetary and designated non-profit institutions – average gross earnings increased by 3.3%
July 19, 2013
Erdogan Attacks Banks
Turkey´s Prime Minister wants to strengthen his fight against the over-indebtedness of private Turkish households. According to Erdogan, banks are responsible for the unfavorable situation.
July 18, 2013
Russian Economy Shows Insufficient Diversification
The Russian economy is primarily based on commodities, economists at the Moscow Higher School of Economics report. In the medium term, Russia has no growth potential, the experts say.
July 18, 2013
Poland Tries to Manage Fiscal Balancing Act
On the one hand, Poland´s government wants to keep an eye on the Maastricht Criteria. On the other hand, the economic growth would shrink even more without a fiscal stimulus.
July 18, 2013
Turkey Suffers from Massive Capital Outflow
Due to the mass protests and the sharp political reactions, investors became suddenly much more cautious.
July 17, 2013
Polish Government to Leave Austerity Path
In order to boost Poland´s economic growth, the government wants to ease the fiscal discipline.
July 17, 2013
Austria Stresses Importance of Agency for Fundamental Rights
"EU Agency for Fundamental Rights in Vienna plays a central role in the monitoring of fundamental rights."
July 17, 2013
CNB Expects Croatian GDP to Contract Remarkably
The Croatian National Bank forecasts a GDP decline of 1.0% in 2013.
July 17, 2013
Russia Only Posts Moderate Growth Rates
Russian economists forecast that the Russian GDP will grow by 1.6% this year. This is substantially below the growth rate of 2012.
July 16, 2013
Poland: Economic Upswing not before 2014
Poland´s National Bank NBP expects that the country´s economic performance will not improve visibly this year.
July 16, 2013
IMF to Leave Hungary
Hungary´s National Bank MNB has called the IMF to close its representative office. Hungary wants to repay the loan facility provided by the IMF soon.
July 16, 2013
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July 16, 2013
Poland: State Companies to Submit to Further Control
Poland to enhance supervision over state companies in the energy sector.
July 15, 2013
Fekter: Horror Figures with Hypo’s Restructuring Plan.
The restructuring plan for Hypo Alpe Adria involves several scenarios, which Finance Minister Fekter does not want to mention. The “horror figures” tax payers are burded with are set up “in an apocalyptical way”, according to her.
July 15, 2013
Poland: Gowin Wants to Become Next Prime Minister
Conservative party member of PO Gowin is the sole challenger to Tusk for the position as party leader.
July 11, 2013
Fekter: Capital Aids for Hypo Included in Next Budgets
Finance Minister Maria Fekter sticks to it: „We will reach a zero deficit in 2016 and have a slight surplus in 2017,”she announced during the presentation of the economic report 2013 on Wednesday.
July 11, 2013
Russian Car Market to Get New Lift
The number of sales of new cars in Russia has declined 11 percent. This is the fourth month in a row showing declines, according to the figures of the Accociation of European Businesses (AEB).
July 10, 2013
Turkey: Gezi Protests Claim Fifth Life
A 19-year-old, who was seriously injured during the protets against the government in Turkey, has died in hospital. The number of fatalities has now risen to five, according to press agency Dogan.
July 10, 2013
New Czech Government Sworn In
Czech President Milos Zeman has announced the new government of Prime Minister Jiri Rusnok on Wednesday and sworn in. The team of 15 mostly independent experts replaces the cabinet of Petr Necas, who has stepped back due to a corruption scandal.
July 10, 2013
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