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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
Austrian Budget: Experts Call for Further Reforms (Part 2)
Austrian economic research institutes criticize the state budget and want the government to show more ambition.
October 16, 2012
FPÖ Files Suit Against ESM
The biggest Austrian opposition party files a legal complaint against the European Stability Mechanism (ESM) at the Austrian Constitutional Court.
October 15, 2012
Hungarian Construction Industry Shrinks
In August 2012, construction decreased by 5.3% in output year-on-year. The construction of buildings decreased by one tenth, while that of civil engineering works grew slightly.
October 15, 2012
Klaus: “Nobel Prize for EU is a Mistake”
The Czech President Vaclav Klaus criticizes the decision of the Nobel Prize Committee. For him, the decision is a “joke”.
October 13, 2012
EU Wants Austria to Reduce Bureaucracy
The Commission of the EU has presented its concept for the re-industrialization of Europe. Austria is well-positioned, but there is some potential for improvement.
October 13, 2012
Czech Government Attempts to Stimulate Growth
On the one hand, the Czech government deepens the austerity measures. On the other hand, growth-stimulating investments should be initiated.
October 13, 2012
Czech Banking Association Pessimistic
CBA has lowred its forecast on the Czech economy. The decreasing household consumption would be the main reason.
October 12, 2012
Czech National Bank Open for Interventions
At the moment, the Czech National Bank (CNB) sees no reason for weakening the exchange rate of the Czech Crown. However, CNB is ready to start interventions if necessary.
October 12, 2012
Hungary: Industrial Production Declines Slightly
In August 2012, industrial gross output declined by 0.8% compared to the same month of 2011.
October 12, 2012
Verbund Does Not Exclude Sale of Enerjisa
The Austrian energy company Verbund is said to withdraw from Turkey. However, further investments would be conceivable too, Verbund says.
October 12, 2012
Austrian Foreign Ministry Wants “Better coordination for development cooperation”
"No single country can solve all the major problems of our time alone", Austrian State Secretary Reinhold Lopatka said at the "Development Dialogue" event in Parliament today.
October 12, 2012
Poland´s Budget Deficit “Will Not Be Bigger than Planned”
The Polish Minister of finance Jacek Rostowski stresses that the planned budget deficit will not be higher than PLN 35.6bn.
October 11, 2012
Czech Economy to Shrink by 1.0% This Year
According to IMF, the Czech GDP will shrink by 1.0% this year. Next year an economic growth rate of 0.8% is expected.
October 10, 2012
Fekter Welcomes Entry into Force of ESM
Austria´s Minister of Finance "No cause for celebration, however, as we are still in the middle of stabilising the Eurozone."
October 10, 2012
Austrian Presents Piorities for the “EU budget of the future”
State Secretary Lopatka in the EU Sub-Committee of the National Council.
October 10, 2012
Small Growth in Hungarian Foreign Trade
From January to August 2012, the Hungarian export value rose by 2%.
October 9, 2012
Hungarians Highly Dissatisfied with Economic Situation
According to a survey of the opinion research institute, 46% of the interviewees view their situation as “bad”.
October 9, 2012
Financial Transaction Tax to be Introduced
Now, the financial transaction tax has enough supporters. After months of negotiations, eleven EU member countries finally agreed on introducing a financial transaction tax.
October 9, 2012
Hungary Not A focus of commercial Real Estate Investors
The risk appetite of real estate investors is still subdued. Hungary’s default risk remains relatively high.
October 9, 2012
„Nabucco Is not Dead at All“
The EU-Commissioner of Energy Günther Oettinger is optimistic that Nabucco will be successful. According to Austria´s Minister of Economics Reinhold Mitterlehner, the prospects of success are “50+”.
October 9, 2012
Hutchison Tries to Persuade EU Commission
The smallest Austrian telecommunication operator wants the EU Commission to approve the takeover of Orange.
October 8, 2012
Poland: Almost 2.0 Million Unemployed
In August, the unemployment quota grew to 12.5% from 12.4%.
October 8, 2012
Erste Group to Sell Ukrainian Subsidiary
This year, the Austrian bank plans to sell its Ukrainian business segment. Erste Group entered the Ukraine in 2006.
October 8, 2012
Hungarian Retail Sector Struggling on Several Fronts
The recession in Hungary is also affecting the Hungarian retail sector. A weak labour market combined with declining purchasing power is dampening consumer spending, a development which is reflected in weak retail sales.
October 8, 2012
Hungary: Residential Housing Market at a Standstill
According to Bank Austria, the Hungarian housing market has reached a historic low.
October 8, 2012
Atrium European Real Estate Limited / CREDIT RATING UPGRADE TO
INVESTMENT GRADE
Atrium European Real Estate Limited / CREDIT RATING UPGRADE TO INVESTMENT GRADE
October 8, 2012
ATRIUM SIGNS EURO RTV AGV AT ATRIUM FELICITY DEVELOPMENT
ATRIUM SIGNS EURO RTV AGV AT ATRIUM FELICITY DEVELOPMENT
October 8, 2012
Hungary: Vacancy Rates in Office Market Remain High
Despite record low in new building activity, the Hungarian office market proves stable.
October 6, 2012
Hungarian Economy Still Shows Weakness
The country´s economic growth remains low, public debt leaves no leeway for fiscal policies. A high level of foreign debt remains a significant weakness of the Hungarian economy.
October 6, 2012
Poland: Long-Term Unemployment Becomes Problematic for State Budget
According to the consulter Deloitte, Poland is losing billions because of the long-term unemployment.
October 6, 2012
Support for Financial Transaction Tax Keeps Within Limits
In order to introduce the tax, nine countries must agree thereon. The time pressure is growing.
October 6, 2012
Czech Republic: Industrial Sector Most Important
Among the EU members, the Czech Republic shows the highest percentage of people working in the industrial sector.
October 6, 2012
New Austerity Package in Hungary
In order to cut the budget defict below 3.0% of GDP in 2013, the Hungarian government plans further cuts and tax increases.
October 5, 2012
Romania: Lowest Importance of Service Sector in EU
Almost 70% of employed persons in the EU27 worked in the service sector in 2011. The scope ranges from 43% in Romania to 85% in Luxembourg.
October 5, 2012
Fekter Rejects Deposit Protection in EU
At the Alpbach Financial Symposium, Austria´s Minister of Finance Maria Fekter underlined to reject the European deposit protection.
October 4, 2012
Hungary Must Lower Budget Deficit
The Hungarian National Bank puts pressure on the government to lower the budget deficit. By contrast, the government has widened the budget target to 2.8% instead.
October 4, 2012
Poland´s National Bank Holds Interest Rate
After analysts expected that the Polish NBP cut the interest rate, the decision to hold the rate at 4.75% came as a surprise.
October 4, 2012
Austrian Trade with Russia Reaches New Record
This year, bilateral trade with Russia will reach about € 7.0bn. President of the Austrian Chamber of Commerce Christoph Leitl wants to strengthen foreign trade with Russia.
October 4, 2012
Viennese Investors to Sell UkrTelekom
The Ukrainian investor Rinat Achmetow is said to acquire UkrTelekom.
October 3, 2012
Lenzing Expands into Czech Republic
The Austrian fiber producer Now Owns 100% Stake in Pulp Producer Biocel Paskov.
October 3, 2012
Poland to Increase Flexibility of Labor Market
The Polish Ministry of Social Affairs prepares an “anti-crisis-package”.
October 3, 2012
Poland: Interest Cut Expected
The Polish National Bank NBP is anticipated to announce a cut in the base rate. At the moment, the base rate stands at 4.75%.
October 2, 2012
Immofinanz Builds Next Shopping Center in Poland
The Austrain real estate group starts retail development project in Poland. Investments total € 115m.
October 2, 2012
Hungarian Budget Deficit Growing Quickly
According to preliminary data the deficit of the general government sector in the first half of 2012 was HUF 393 billion, 2.8% of GDP. Although the deficit is smaller than last year, the 2012 target will not be met.
October 2, 2012
Hungarian Unemployment Quota Down
In June–August 2012, the number of unemployed people was 456 thousand resulting in an unemployment rate of 10.4%.
October 1, 2012
Fekter Promotes Financial Transaction Tax
The Austrian Minister of Finance wrote a letter to the EU Commission. She argues that a financial transaction tax would be economically reasonable.
October 1, 2012
M&A´s: Poland Ranks First Among CEE Countries
According to a study by Ernst & Young Poland ranks 30 among 148 countries.
October 1, 2012
Raiffeisen: CEE Network to be Closed
Austrian RBI (Raiffeisen Bank International) announces that the expansion in Central and Eastern Europe will be concluded soon.
October 1, 2012
Hungary: Budget Targets Endangered to Fail
In August, Hungary´s budget deficit has almost reached the full year´s level. Analysts doubt whether Hungary may achieve a 2.5% budget deficit this year.
October 1, 2012
Bank Secret: Semeta Criticizes Austria´s Position
According to the EU Commissioner Algirdas Semeta, Austria´s bank secret is “out-dated”. He criticizes that Austria and Luxembourg still reject to give up the bank secret.
October 1, 2012
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