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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
Agricultural Exports Show Significant Rise
The Austrian agricultural exports reached almost their all-time high from 2008. Especially Italy is becoming increasingly important.
October 29, 2011
Orban Attacks Austrian Banks
The Hungarian Prime Minister Viktor Orban wants to release his country from the “debt slavery” and criticizes Austria´s reactions.
October 29, 2011
„Austria´s Triple A Not in Danger“
For the Austrian Minister of Finance, Maria Fekter, the status of the domestic economy is “well prepared”.
October 29, 2011
Chinese Companies Looking for Investment Opportunities in Austria
China’s President Hu Jintao comes for a state visit and is accompanied by a 160-member business delegation.
October 28, 2011
OeNB Dismisses Management of Money Printing Subsidiary
Three persons were fired for suspicion of unlawful actions. € 14m have allegedly been paid as bribe to secure a deal with Syria.
October 28, 2011
Emirates Wins Dispute over Air Rights
The Middle Eastern airline was allowed to offer 13 connections per week from Dubai to Vienna.
October 28, 2011
Majority of Austrians Opposed to EU Rescue Package
850 respondents were asked their opinion before Wednesday’s summit meeting. 71% believe that the package is disadvantageous for Austria.
October 27, 2011
European Banking Authority: Austrian Banks Need € 2.9bn
Banks are required to establish a buffer such that the Core Tier 1 capital ratio reaches 9%. A major part of the capital needs is attributable to Volksbank Group.
October 27, 2011
Hypo Group Plans to Sell Austrian and Italian Subsidiary
The nationalized bank continues its downsizing program. Major parts shall be privatized again now.
October 25, 2011
„Extend Economic Ties to Georgia“
The Austrian Minister of Economics wants to cooperate closer together with Georgia, which offers export opportunities for the Austrian industry.
October 25, 2011
Growth in U.S. Winter Sports Market as a Chance
Against 2010, the U.S. winter sports market shows a rise in sales of 12%. The Austrian winter sports industry regards this as chance.
October 25, 2011
Palmers to be Sold
The owner of the Austrian clothing company are looking for potential buyers. The French subsidiary Lejaby however, is not for sale.
October 25, 2011
Plansee Grows in Korea
With the acquisition of TCB, he Austrian Plansee Group expands in South Korea.
October 25, 2011
R&D Expenses on the Rise
The largest Austrian Enterprises increased their budgets for research & development by 9.6% on average. This is slightly beyond the global average (9.3%).
October 24, 2011
Hungarian MOL and Austrian RAG Cooperate for Exploration and Production in Hungary
Hungarian MOL (Magyar Olaj- és Gázipari Nyrt.) and Austrian RAG (Rohöl-Aufsuchungs Aktiengesellschaft) have signed agreements to perform activities in the exploration and development of the Inke license south of lake Balaton in Hungary, released MOL.
October 24, 2011
Lenzing Expands Capacities in China
The Austrian fiber manufacturer experiences still strong growth in China. Investments will rise significantly too.
October 24, 2011
Construction Companies Fight for Romanian Order
Three Austrian construction companies – Strabag, Porr and Alpine – compete for a major order from the Romania railways. The order volume is € 258m.
October 24, 2011
Subway to Restart in Austria
The U.S. fast food chain aims to return to Austria. In 2005, Subway had to leave, which was due to the insolvency of a franchising partner.
October 24, 2011
Leitl Deepens Relations to Chinese Province Jiangsu
The Austrian President of the Economic Chamber regards the Chinese province Jiangsu as an important export market and trading partner.
October 22, 2011
Victory AG Sold to China
The Austrian investor Ronny Pecik, who recently acquired a minor stake in Telekom Austria, sold his investment company to China. Raiffeisen and Hypo Group still have uncovered loans.
October 22, 2011
AT&S: Massive Investments in China
The Austrian manufacturer of conductor boards will invest € 600m for its factory in the Chinese Chongqing.
October 22, 2011
Pecik to Resell Stake in Telekom Austria?
The Austrian investor is reportedly planning to buy further shares and to sell the package to Russian Vimpelcom in several years.
October 21, 2011
Volksbanken Group Wants to Sell its 25% Stake in Insurer Victoria
According to Wirtschaftsblatt, which is citing well informed sources, ÖVAG Österreichische Volksbanken-AG want to separate completely from Victoria Insurance by selling its shares to the Victoria’s majority owner Ergo, the unit of German Munich Re.
October 21, 2011
OMV Buys Gas Discovery from Norwegian Noreco
Norwegian Energy Company (Noreco) has entered into an agreement to sell its 20 percent share of license on Haltenbanken to Austrian OMV.
October 21, 2011
Raiffeisen as Success Guarantee for the Polish State Railways Bond
Polskie Koleje Panstwowe Spólka Akcyjna (“PKP”), the Polish State Railways, rated BBB by Fitch, successfully issued its debut international transaction in the form of a Eurobond amounting to EUR 180 million, reported the Raiffeisen Bank International.
October 21, 2011
Slovak Bank Tax Is Going to Hurt Austrian Banks
On Thursday the Slovak parliament has officially approved a bank levy. The tax is one of the measures taken by the government to strengthen the Slovak budget.
October 21, 2011
Austrian Post Buys Stake in Romanian PostMaster
The deal includes an option for Austrian Post to become sole shareholder of the leading alternative postal service provider in Romania.
October 20, 2011
Novomatic Continues its Success in Italy
Novomatic celebrates a historic milestone in Italy, Europe’s largest gaming market. Italy is now operating the 10,000th video lottery terminal produced by Novomatic in Gumpoldskirchen, Austria.
October 20, 2011
AT&S Reports Solid Quarterly Results
The Austrian technology company achieved record sales of € 131.4m in the second quarter. A new sales office in Taiwan will be opened soon.
October 20, 2011
Strabag Wins Major Contract in Oman
The Austrian construction group’s local subsidiary was commissioned to build the infrastructure extension of a port. The order has a volume of € 150m.
October 20, 2011
Austrian Railways to be Widened
The EU Commission declares the Austrian South Axis to be strategically important.
October 19, 2011
GM Makes Major Investment in Austria
The U.S. corporation invests € 50m in its Viennese powertrain factory.
October 19, 2011
ATB Sold to Chinese Wolong Group
The Austrian ATB company, a former subsidiary of the insolvent A-Tec Group, goes to the Chinese engineering corporation Wolong.
October 19, 2011
U.S. Investor Buys 44% Stake in Leica
The U.S. investment fund Blackstone acquired 44% in Leica Camera from the Austrian investor Andreas Kaufmann.
October 19, 2011
U.S. Company Claims $ 25m From Andritz
The U.S. company Ovalstrapping accuses the Austrian technology Company Andritz to have copied its technologies. Andritz defends itself.
October 19, 2011
Alpine Has Completed „Yellow River Diversion Projekt“ in China
The 25,386-meter Pinglu Tunnel, part of a gigantic water supply project designed to supply China’s dry regions with water from the “Yellow River,” was completed after five years of construction, reported the Austrian constriction company Alpine.
October 19, 2011
Warsaw is Going to Have a Second Airport
According to plans, Modlin airport authorities expect regular international and domestic airlines connections to start in autumn next year.
October 18, 2011
Warsaw Stock Exchange, the Financial Hub of CEE
The 4th Warsaw-CEE Financial Hub conference will be held on 30th November 2011 in the Listing Room of the Warsaw Stock Exchange under the honorary patronat of the Polish President Bronislaw Komorowski.
October 18, 2011
Hypo Group: „Need Time, not Cash“
Gottwald Kranebitter, CEO of the Austrian nationalized Hypo Group emphasizes the independence from further state capital.
October 18, 2011
Lower Profits for Verbund´s Subsidiary Sorgenia
Sorgenia, the Italian Subsidiary of the Austrian energy corporation Verbund, reports a drastic decrease in net income from € 61m to € 18m. Sales were down by 8.5%.
October 18, 2011
Greek Haircut Would Cost Another € 350m
Austrian banks still have a substantial exposure in Greece. A haircut up to 60% seems possible. Then, another € 350m would have to be written off.
October 18, 2011
Pecik Acquires Minor Stake in Telekom Austria
The Austrian investor now enters the Vienna-listed Telekom Austria Group. For the time being, Pecik holds a 5.4% stake.
October 17, 2011
Austrian-Czech Technology Cooperation Opportunities
The Embassy of the Czech Republic in Vienna, in cooperation with the Lower Austria Chamber of Commerce hosts on 18 October 2011 a technology seminar.
October 17, 2011
The Intended VIG Acquisition of Polish Warta Faces a Tough Competition
According to the Polish daily Rzeczpospolita, analysts estimate the value of the Polish insurer Warta at € 230-340m.
October 17, 2011
Erste Bank Hungary Opens Home Savings Bank
According to Imre Szatno. the deputy head of retail division of Erste Bank in Hungary, quoted by Budapest Business Journal, the Erste Group has launched its own home saving bank.
October 17, 2011
Sale at Rail Cargo Austria?
The freight traffic division of the Austrian Federal Railways (ÖBB) still suffers from its Hungarian subsidiary RCH. A sale to Hungary seems to be possible.
October 15, 2011
Lufthansa Holds On Austrian Airlines
The German Airline will keep its Austrian subsidiary despite of persisting losses.
October 15, 2011
Erste Group Increases Stake in BCR
The Austrian Erste Group further expands in the difficult Romanian market. Erste Group will hold 94% in BCR then.
October 15, 2011
Palfinger Aims for Growth in China
The Austrian crane manufacturer, which has recently published a capital increase, will use these funds for further investments in China.
October 15, 2011
Erste Group Signs Facility Agreement with Ukrainian Energy Holding
The Austrian bank extends an existing credit facility for DTEK from € 50 to € 100m with a maturity of three years.
October 14, 2011
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