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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
WIFO: South Europe Needs Change in Strategy
The Austrian Institute of Economic Research (WIFO) underlines that the austerity policy in South European countries did not help at all.
December 12, 2012
Orange Takeover Finally Approved
After more than ten months, the EU Commission approved the takeover of the third-largest Austrian telecommunication operator by the competitor Hutchison Austria.
December 12, 2012
Czech Republic: Migration Declines
The population of the Czech Republic increased by 7.8 thousand to 10 513.2 thousand during the first three quarters of 2012.
December 12, 2012
Polish National Bank Criticized
Poland´s Minister of Finance Jacek Rostowski thinks that NBP (National Bank of Poland) does not cut interest rates quickly enough.
December 11, 2012
Hungary: Inflation Grows Further
In November consumer prices increased by 5.2% compared to November 2011.
December 11, 2012
Turkey Is Losing Momentum
Turkey´s economic growth begins flatten. In the third quarter, GDP growth only reached 1.6%.
December 10, 2012
Czech Unemployment on the Rise
In November, the Czech unemployment quota reached 8.7% after 8.5% in the previous month.
December 10, 2012
Romania: Basescu Under Pressure
After the decisive victory of Prime Minister Ponta, Romania´s President Traian Basescu has no other alternative than to appoint Ponta again.
December 10, 2012
Czech Construction Output Decreases
In October 2012 the construction output decreased by 4.3%, year-on-year (y-o-y), in real terms. Even a higher number of working days has not stopped the decline in construction output.
December 10, 2012
Czech Industry: More Working days, More Production
In October 2012, industrial production increased at constant prices by 4.1%, year-on-year; working days adjusted industrial production decreased by 3.3%.
December 10, 2012
CA Immo: New Tenants in Hungary
CA Immo was able to acquire new tenants for some 9,300 sqm office space in five Hungarian office properties over the past six months.
December 10, 2012
Ukraine Faces Recession
For the first time since 2009, Ukraine recorded a negative growth rate last quarter. Weak exports and a shrinking industrial sector are the most pressing issues.
December 8, 2012
Croatia Considers Leasing Out Highways
In order to reduce the budget deficit, Croatia plans to privatize its highway network.
December 8, 2012
Orange-Takeover: Commission to Announce Decision Next Week
EU Commissioner Joaquin Almunia said that the final decision will be published next week. The deal is likely to be approved.
December 8, 2012
Russia Starts South Stream Pipeline
Today, the Russian gas group Gazprom has officially begun the construction works of the pipeline project.
December 7, 2012
Hungary: Recession Deepens
The gross domestic product of Hungary decreased by 1.5% in the third quarter of 2012 compared to the corresponding period of the previous year.
December 7, 2012
Slovakia: Strong Increase in Foreign Trade
In September 2012, compared with the corresponding period last year, the total export of goods increased by 9,6 % to EUR 5 616,6 million and the total import by 7,7 % to EUR 5 277,3 million.
December 7, 2012
Czech Republic: Recession Continues
In Q3 2012, the gross domestic product adjusted for price, seasonal, and calendar effects decreased according to the refined estimate by 1.3%, year-on-year (y-o-y), and by 0.3%, quarter-on-quarter (q-o-q).
December 7, 2012
Czech Republic: Highest Exports and Imports Ever Recorded
In October 2012, according to preliminary data of ‘border statistics’, current price exports and imports rose by 7.5% and 8.2%, year-on-year (y-o-y), respectively.
December 7, 2012
Belka: “Poland Is Free of Economic Imbalances”
The governor of the Polish National Bank (NBP) admits that the economic slowdown is substantial, but no fundamental problem.
December 6, 2012
Juncker´s Succession: Faymann Out of the Race
The talks about the succession of Jean-Claude Juncker as chairman of the Euro-Group are going on. Austria´s Chancellor has only little prospects.
December 6, 2012
Czech Republic Still May Use Veto Against Banking Union
The Czech government wants to secure the rights of national regulation authorities.
December 5, 2012
EU Approves State Aid for Hypo Group
The EU Commission has no objections against the state aid with a size of € 1.5bn.
December 5, 2012
CNB Underlines Stability of Czech Banking Sector
According to CNB, the banking industry is able to bear potential external shocks.
December 5, 2012
Polish Government Retains Budget Assumptions for 2013
Poland´s Prime Minister Donald Tusk said that there is no need to change the economic assumptions at the moment.
December 5, 2012
Legal Merger of Raiffeisen Bank Polska and Polbank EFG Approved
Approval is starting point for unification of market approach and operational merger process. Cost synergies to be achieved by optimization of the branch network and the staff number, among other measures.
December 5, 2012
Measuring Poverty in the EU: third International EU-SILC Conference in Vienna
The third International Conference on EU Statistics about Income and Living Conditions (EU-SILC) will be opened in Vienna on Thursday, 6 December 2012.
December 5, 2012
Hungary: Tourism Industry Booms
In October, public accommodation establishments saw a 9.1% rise in arrivals.
December 5, 2012
Czech Republic: Retail Industry Shrinks
In October, sales in retail trade including automotive segment after seasonal adjustment decreased by 1.5% at constant prices, month-on-month, and working days adjusted by 3.0%, y-o-y.
December 5, 2012
„Banking System Becomes More Solid“
The chairman of OeNB (Austrian National Bank) Ewald Nowotny thinks that the banking supervision and the Basel III framework will stabilize the financial markets.
December 4, 2012
Banking Supervision: Fekter Calls for Flexibility
Today, the meeting of the Finance Ministers of EU countries was unsuccessful. Austria´s Finance Minister Maria Fekter comments that quality is more important than speed.
December 4, 2012
Poland: Another Rate Cut Expected
The Polish National Bank (NBP) will lower the interest rate one more time this year, analysts say.
December 4, 2012
Faymann as Juncker´s Successor?
Austria´s Federal Chancellor Werner Faymann is said to have relatively good prospects to become head of the Euro Group.
December 4, 2012
Immofinanz: Major Contract in Budapest
Immofinanz Group announces extension of three leases covering 18,000 sqm at Atrium Park in Budapest.
December 4, 2012
Czech Republic: Decline in Real Wages Continued
In real terms, wages declines by 1.8% in the third quarter.
December 4, 2012
Rothensteiner: „No Credit Crunch“
Walter Rothensteiner, CEO of Austrian Raiffeisen Zentralbank, thinks that the capital shortfall of European banks does not limit credit supply.
December 3, 2012
Poland: Economic Growth Flattens Further
The crisis in the Eurozone also hits Poland. In the third quarter, the economic growth rate only came at 1.4%.
December 3, 2012
Poland: Piechocinski to Become New Deputy Prime Minister
After the resignation of Waldemar Pawlak, the Polish government will not collapse, observers say. PSL´s new party leader Janusz Piechocinski is expected to succeed Pawlak.
December 3, 2012
Hungary Considers Reducing Foreign Exchange Reserves
In order to repay loans, the Hungarian government is said to reduce the foreign exchange reserves of MNB (Hungarian National Bank). The government does not need to fear resistance by MNB.
December 1, 2012
Pension Costs to Increase Moderately
According to CNB (Czech National Bank), pension costs will increase by 3.0% of GDP in the next fifty years.
November 30, 2012
Polish Economy Slows Down
In the third quarter, annual GDP growth was below 2%, the Polish Ministry of Finance said today.
November 30, 2012
Fitch Cuts Croatia´s Credit Rating Outlook
The U.S. rating agency argues that the economic development in Croatia is substantially behind the expectations.
November 30, 2012
Hungary: Foreign Trade Declines
Surplus of HUF 215bn in external trade along with a decreasing turnover in September.
November 30, 2012
Inflation in Ukraine Remains at Zero Level
“Effective management of the financial sector allows Ukrainian authorities to hold inflation.” NBU (National Bank of Ukraine) states.
November 30, 2012
Poland: Measures Against Shrinking Population
Poland´s Prime Minister Tusk announced that the government will improve its social policy. In the next 40 years, the Polish population might decrease by 6 million.
November 29, 2012
Hungary: Small Decrease of Investments
In quarter 3 of 2012 the volume of investments in the national economy was 2.1% lower than one year before.
November 29, 2012
Ukraine: “Stability of Currency Not Endangered”
Ukrainian businessmen are confident in the stability of hryvnia, the Ukrainian National Bank says.
November 28, 2012
Hungary: Unemployment Remains Stable
In August–October 2012, the official number of unemployed people was 463 thousand resulting in an unemployment rate of 10.5%.
November 28, 2012
Poland: Unemployment Remains on High Level
The Polish government expects the unemployment quota to grow slightly.
November 27, 2012
Orange-Takeover: One Step Closer to the Goal
Telekom Austria is allowed to take over the discount operator Yesss!. Now, only the Commission has to approve the whole deal.
November 27, 2012
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