Vienna's Foreign and Bilateral Relations

Austria and Moldova to Boost Cooperations

The Republic of Moldova has been a primary country of Austrian Development Cooperation since 2004. State Secretary Lopatka underlined this during a visit to Moldova on the occasion of the re-opening of the Austrian embassy.

March 19, 2013

Hungary: Dissatisfaction Towards Government Grows

Right-wing leader Viktor Orban has been in parliament for almost three years. But the promised reforms and changes to improve the economic situation came to nothing. Protests are arising.

March 18, 2013

Hungary: Construction Industry Suffers From Decline

Year-on-year, construction output decreased by 4.1% in January 2013 according to both unadjusted and working day adjusted indices. Output went down by a seasonally adjusted 1.5% month-on-month.

March 18, 2013

Hungary: New Interest Rate Cuts Ahead

Since the beginning of March, Hungary´s National Bank MNB has a new governor. The government wants MNB to lower the base rate further.

March 16, 2013

Romanian Labor Costs Increased Dramatically

The EU average increase in labor costs in the 4th quarter in 2012 increased by 1.3 % throughout the EU. Front runner turns out to be Romania.

March 15, 2013

Poland: Inflation Decreasing

Declining inflation was supported by weaker demand and cost pressures in the economy, decrease in energy price growth as well as zloty exchange rate stronger than a year ago.

March 15, 2013

Poland Sharpens Austerity Measures

In order to fulfill the Maastricht Criteria sustainably, Poland wants to reduce the budget deficit to 1.0% of GDP in 2015.

March 15, 2013

Czech Republic: Contruction Industry Sees Further Declines

In January 2013 the construction output declined by 9.3%, year-on-year (y-o-y). The planning and building control authorities granted by 4.1% more building permits, y-o-y, and the approximate value of permitted constructions dropped by 31.7%, y-o-y.

March 15, 2013

Czech Republic: Industrial Production Decreased by 4.1%

In January 2013, industrial production decreased at constant prices by 4.1%, year-on-year. Compared to the previous month, seasonally adjusted industrial production was the same as in December 2012. The value of new orders decreased by 7.6%, y-o-y.

March 15, 2013

Romania: Surplus in Balance of Payments

In January, the balance-of-payments current account posted a surplus of EUR 465 million Y/Y.

March 15, 2013

Russia: Former Economy Minister To Become New Governor Of Central Bank

Former economy minister Elvira Nabiullina will take over the post of the Central Bank of Russia (CBR) Governor.

March 14, 2013

Hungary: Number of Emigrants to Austria Increases

More and more Hungarians emigrate to Austria due to economic and political reason.

March 14, 2013

Hungary: Industrial Production Continues to Shrink

In January 2013, industrial gross output was down by 1.4% year-on-year.

March 14, 2013

Czech Republic: Population Grows Slightly

In 2012, the population of the Czech Republic increased by 10.7 thousand to 10 516.1 thousand persons.

March 14, 2013

Ukraine Puts More Effort in New Infrastructure

“Financing and promotion of investment projects will give a fillip for the economic development of our country.”

March 14, 2013

Austrian Banks to Stay in Hungary

In the coming years, foreign banks will face a difficult market environment in Hungary. Nevertheless, Austrian banks want to maintain their position.

March 14, 2013

Croatia: HRK 380m To Be Paid Into The State Budget

At its session today, the Croatian National Bank (CNB) Council examined the latest monetary and economic indicators as well as a report on the banking system condition in the last quarter of 2012.

March 14, 2013

Czech Republic: Highest Internet Retail Sales in 26 Months

Highest growth rates in internet retail and house order sales and IT/communication equipments.

March 14, 2013

Romania: Turnover of Market Services Decreased 14.1 % in January

In January 2013, the turnover of market services rendered mainly to enterprises, in nominal terms, decreased compared to the previous month.

March 14, 2013

Orban Wants to Strengthen Hungarian Banks

According to Hungary´s Prime Minister Viktor Orban, the high share of foreign banks is “unhealthy”.

March 13, 2013

Turkey: Economic Imbalances Become More Visible

Unlike the Eurozone, Turkey´s economy still shows substantial growth rates. However, Turkey suffers from a number of structural weaknesses.

March 13, 2013

Improvement on the Czech Commercial Real Estate Market in Sight?

Bank Austria sees anti-cyclical investment opportunities in the Czech Republic and CEE. The Czech Republic offers a low country risk and transparent real estate market.

March 13, 2013

Erste Group to Take over BCR Completely

The Austrian banking group launches a permanent buy-out offer for minority shareholders of BCR.

March 13, 2013

Romania: Construction Output Goes Down

Volume of construction works, series adjusted with the working days number and seasonality, registered a decrease of 2.3% in January 2013, compared to December 2012.

March 13, 2013

Atrium European Real Estate Limited / Yearly Report

March 13, 2013

Atrium European Real Estate Limited / STRONG 2012 RESULTS REFLECT SUCCESSFUL ASSET MANAGEMENT OF THE PORTFOLIO AND DELIVERY OF STRATEGY

March 13, 2013

Russia: Battle Between Rosneft And Gasprom Starts

The fight between Russia’s two biggest energy providers Rosneft and Gasprom has started. Rosneft tries to snatch away large deposits of raw oil and reports Gasprom to the government.

March 12, 2013

Czech Republic: Average Wage Increased Due to Bonuses

In Q4 2012 the average gross monthly nominal wage per employee FTE in the entire national economy increased by 3.7% compared to the corresponding period of the previous year.

March 11, 2013

Austria: Optimistic Economy Minister Forecasts Economic Growth

In an interview with Wirtschaftsblatt, Austria’s economy minister, Reinhold Mitterlehner, forecasts an economic growth rate of 2 % for the next year, 2014.

March 11, 2013

Czech Republic: GDP Decreasing by 2.1%

The gross domestic product adjusted for price, seasonal, and calendar effects decreased according to the refined estimate by 1.2% compared to 2011; the decrease was gradually deepening during the year.

March 11, 2013

Austria: Opposition Puts Forward Constitutional Challenge

Fiscal Pact undermines sovereignty of parliament and forces the country to severe austerity measures.

March 9, 2013

Austria: Hypo Gets Additional € 700m From State

The EU threatens to close down Hypo Group because of the overdue restructuring measures.

March 9, 2013

Hungary: Austrian Farmers on the Verge of Dispossession

A new regulation should help Hungarians prevent from "greedy speculators".

March 8, 2013

Czech Republic Records Trade Surplus

Imports as well as exports were down significantly. The foreign trade surplus increased slightly.

March 8, 2013

Hungary: GDP Fell by 2.7%

The gross domestic product of Hungary decreased by 2.7% in the fourth quarter of 2012 compared to the corresponding period of the previous year.

March 8, 2013

CZ: President Klaus Leaving Presidential Office

After having been in office for ten years, Czech President Vaclav Klaus left Prague Castle. Today, Friday March 8, his sucessor Milos Zeman is going to be sworn in.

March 8, 2013

Austria: RZB About to Take Over Assets of VBAG?

The possible takeover by RZB is still kept in the dark. RBI, however, might absorb Citibank Romania.

March 8, 2013

Romania: Average Earnings Down Substantially

In January 2013, the average gross nominal earnings were 2138 lei, by 8.7% lower than the one registered in December 2012.

March 7, 2013

Hungary: Industrial Production Continues Decreasing

According to preliminary data, the Hungarian industrial production decreased by 1.4% in January.

March 7, 2013

Romania: Slight Increase of GDP for 2012 at 0.1 % on Y/Y Comparison

Record decrease at 24.6 % in agriculture, industrial production better off with decrease of 2.4 %. The highest increase was recorded in IT and communication, services and health/social assistance.

March 6, 2013

Hungary: Highest Loss in Real Wages in Five Years

Gross salaries increased 4.6 % while net income only saw moderate rise at 2 % in 2012.

March 6, 2013

Poland: Government Retains Economic Forecast

Despite the economic slowdown, Poland´s Minister of Finance Jacek Rostowski demonstrates optimism.

March 5, 2013

Austria: New CEO for Alpine

The construction company was saved from bankrupcy and is now looking for a new CEO

March 5, 2013

Czech Republic Eases Austerity Policy

In order to boost economic growth, the Czech government tends to refrain from the strict austerity course.

March 5, 2013

Austria: Alpine Turns Out a Big Burden For FCC

The construction company has avoided bankrupcy and is save – for the time being.

March 5, 2013

Mixed Outlook for Russia

This year, Russia´s GDP will grow by 3.3%, the World Bank predicts. Regarding economic reforms, Russia must improve its effort, though.

March 4, 2013

Czech Republic: CNB Fights Against Recession

As the interest rate was cut to a technical zero, the Czech National Bank considers intervening against the crown.

March 4, 2013

Hungary: Percentage of Foreign Direct Investments in Decline

Foreign Direct Investments in 2012 was 5.2 % less than in 2011. According to the statistical central office in Hungary (KSH), the drop in the last quarter showed even -7.9 %. Massive declines in almost all sectors.

March 4, 2013

Poland`s Economy Slows Down Further

According to preliminary estimates, the Gross Domestic Product in the 4th quarter of 2012 only grew by 1.1%.

March 4, 2013

Atrium European Real Estate Limited / Notice of full year 2012 results

March 4, 2013