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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
Hungarian Central Bank Against Bank Taxes
According to the governor of Hungary´s Central Bank, the bank taxes are causing the lending freeze.
September 14, 2012
Austrian Inflation Rate Below EU Average
In August, the official consumer price inflation rate increased by 2.2%. In the Euro area, annual inflation was up to 2.6%.
September 14, 2012
ESM: Austrian Budget Has Already Appropriated the funds
Austria´s share in the ESM comes to € 19.5bn. The capital share is about € 2.2bn. The Austrian Finance Ministry underlines the importance of the ESM.
September 14, 2012
Banking Union: Austrian FMA Wants to Integrate Eastern European Countries
According to the board of Austria´s Financial Market Authority, not only the banks of the Eurozone should be supervised.
September 13, 2012
Nowotny: Not Overcharging ECB
Ewald Nowotny, governor of Austrian Central Bank (OeNB) argues that ECB should not control all banks.
September 13, 2012
Spar Records Losses in Hungary
The Austrian retail chain operates 400 branches in Hungary. The economic crisis caused substantial losses.
September 13, 2012
VAT Dispute: Necas Seeks Compromise
The Czech Prime Minister Petr Necas is optimistic that the instable government will survive. He wants to reach a compromise with the dissenters.
September 13, 2012
„Banking Union Must Not Become Burden for Real Economy“
The Federation of Austrian Industries (IV) underlines that the banking union must be competition-neutral. Above all, the real economy must not face liquidity constraints, IV says.
September 13, 2012
Hungary: Difficult Negotiations with IMF
The relation between Hungary´s Prime Minister and IMF is chronically tensioned. Another delay of the conclusions of the negotiations is likely.
September 12, 2012
OECD: Czech Spending on Education too Low
The Organisation for Economic Cooperation and Development criticizes the Czech government. Expenditure on education only reach 4.8% of GDP, which is below the OECD average of 6.2%.
September 12, 2012
Polish Public Debt Quota to Decrease
Although the planned budget deficit will not be met this year, Poland´s Finance Minister Jacek Rostowski expects a declining public debt quota.
September 12, 2012
Verbund Commissions 100 MW Wind Farm in Romania
The Austrian energy group´s 100 MW wind farm of Casimcea I, close to the Romanian Black Sea Coast, joins the grid.
September 11, 2012
Moody´s: Poland Still Has Strong Credit Profile
Despite the economic slowdown, Poland´s credit profile remains robust, Moody´s Assistant Vice President Jaime Reusche told PAP.
September 11, 2012
Soros: "Germany Must Lead or Leave"
In a talk on "The Future of the Euro" in Vienna, George Soros presented his vision of how the European financial crisis can be solved.
September 11, 2012
Romanian Romgaz to be Privatized
The privatization of Romgaz at Bukarest Stock Exchange may become Romania´s biggest IPO. According to the Romanian news agency hotnews, other big privatizations in Romania may be postponed.
September 10, 2012
Hungary: Bank Tax Intake Lower than Expected
The bank tax proceeds only reach 40% of the planned volume.
September 10, 2012
Euro-Crisis Enters Austria
In the second quarter, the Austrian GDP only grew by 0.1%, WIFO says (Austrian Institute of Economic Research). A recession is not excluded anymore.
September 10, 2012
Austerity Package: Czech Government Asks for Vote of Confidence
After the austerity package was disapproved by the Czech Parliament, the government resubmits the bill to the Chamber of Deputies.
September 10, 2012
Hungary: Orban Rejects IMF´s Conditions
This week, a list containing IMF´s conditions for a € 15bn loan became public. However, it is not known whether the list is a counterfeit. Not at this price and not in this way.” Hungary´s Prime Minister Viktor Orban said.
September 8, 2012
Germany to Depend on Austria´s Electricity “for the next 50 years“
After Germany´s nuclear exit, the German energy production faces new challenges, Michael Fuchs at the biggest German power grid operator Tennet thinks that Austria and Germany have a symbiotic relationship.
September 8, 2012
Romania Leaves Recession Behind
In the second quarter, Romania´s GDP was up by 0.5% The construction industry was the driving force.
September 8, 2012
Czech Republic: No VAT Increase
The governing coalition failed in seeking approval by the parliament. In order to lower the budget deficit, the government intended to lift the VAT rates.
September 7, 2012
Imports Still Bigger than Exports
The Austrian external trade increases moderately in the first half of 2012. Export growth was slightly higher than import growth.
September 7, 2012
Polish Central Bank Retains Interest Rate
NBP (National Bank of Poland) kept the base rate at 4.75%. In the last weeks, a cut was discussed.
September 7, 2012
Unemployment: Highest Payments for Austrians
According to the globalization fund, Austrian unemployed receive three times as much than the EU average.
September 7, 2012
Immofinanz: New Project in Cologne
The Austrian real estate group dissolved its joint venture with Frankonia Eurobau and took over the Gerling Quarter in Cologne.
September 6, 2012
Hypo Group´s Capital Shortfall at € 2.2bn
Today, the Austrian Financial Market Authority (FMA) announced its new estimation regarding the nationalized banking group. Insiders fear that Hypo Group needs even more money.
September 6, 2012
Austrian Growth Above EU Average
Unlike the Eurozone, Austria faces no recession. In the Eurozone, GDP was down by 0.2%.
September 6, 2012
Poland Adapts Austerity Targets
Due to the economic crisis in Europe, the Polish government gives up its aim to reach a budget deficit below 2.2% of GDP.
September 5, 2012
Magna Denies Reports on Expansion in Poland
According to Polish media reports, Magna was said to invest € 238m in Poland. The Canadian automotive group denies expanding in Poland.
September 4, 2012
Five Potential Buyers for Kommunalkredit
Next year, the nationalized bank should be re-privatized. The sale should be finished until the end of this year.
September 4, 2012
Czech VAT Increase to be Resolved
The Czech government wants to increase the tax intake by € 1.0bn. Economists warn of a deepening of the recession.
September 4, 2012
Industrial Producer Prices Most Stable In Austria
July 2012 compared with June 2012: Industrial producer prices up by 0.4% in both euro area and EU27. In Austria, the lowest annual increase was observed.
September 4, 2012
Strabag: Major Contract in Hamburg, Germany
STRABAG Real Estate and Otto Wulff awarded contract for Hamburg’s € 700m college project.
September 4, 2012
Magna to Invest € 238m in Poland
The Canadian automotive group plans to produce cars for “Mini” and “Infinity”.
September 3, 2012
Brand Poland Increases Value Massively
In the Most Valuable Nation Brand ranking, Poland ranks 20th.
September 3, 2012
„Europe Is Stronger than Many Think”
Austria´s Federal President Heinz Fischer thinks that the exclusion of certain member states out of the Eurozone is “highly problematic”. In two or three years, the crisis in the Eurozone is managed, he believes.
September 3, 2012
Palfinger´s Joint Venture in China Starts Operations
The Austrian crane manufacturer is about to intensify its China activities. After only six months, the competent authorities have given their approval to the Group’s joint venture with the Chinese Sany Group.
September 3, 2012
Kapsch Acquired Czech Data Storage
The Austrian IT company strengthens its presence in CEE with acquisition of Data Storage in the Czech Republic.
September 3, 2012
Poland as European Logistics Hub
Real estate analysts predict that Poland will become Europe´s logistics hub in 2020.
September 1, 2012
Austrian Audit Court to Check Gold Reserves
According to rumours, only a small part of Austria´s gold reserves are located in Austria. The biggest part should be in London and Basel, Switzerland.
September 1, 2012
Bank Union: Austrian Banking Industry Cautious
European Forum Alpbach: In mid-September, the EU Commission will present its plans regarding the bank union. The bank union should not be implemented too fast, the Austrian Financial Market Authority says.
September 1, 2012
Next Pension Reform Ahead
European Forum Alpbach: In 2016, the next pension reform may be necessary in Austria.
September 1, 2012
Foreign Investors Dominate at WSE
Warsaw Stock Exchange: The share of foreign investors in trade on the alternative market has increased substantially. WSE’s Main Market has remained stable after the previous period with foreign investors still in the lead.
September 1, 2012
Lower Losses at bwin.party digital entertainment
In its Half year report for the six months ended 30 June 2012, a solid growth in Clean EBITDA was recorded. Losses were down from € 41m to € 21.3m.
September 1, 2012
Poland´s Central Bank Dissatisfied with GDP Growth
In the second quarter, Poland grew by 2.4% instead of 3.0%. The Polish Central Bank does not want to postpone quantitative easing measures any longer.
September 1, 2012
EU Budget Proposal “Excessive” for Austria
EU multiannual budget 2014 – 2020 negotiated in Cyprus: Austria underlines its position as net contributor.
August 31, 2012
Austrian Unemployment Up, but Lowest in EU
In July, the Euro area unemployment rate came at 11.3%. Austria´s youth unemployment rate is the second-lowest.
August 31, 2012
“We Must Go On with a Political Union”
On the occasion of the European Forum Alpbach 2012, Anna Diamantopoulou, Former European Commissioner for Employment and Social Affairs calls for a completion of the European project.
August 30, 2012
Barroso: “We Must Complete Europe” (Part 2)
At the Alpbach Economic Symposium 2012, the President of the EU-Commission José Manuel Barroso explained the “logics of integration”. In order to meet new challenges, the EU has to promote integration, Barroso says.
August 30, 2012
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