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
Lay-Offs in Polish Banking Sector Ahead
According to the Polish newspaper Rzeczpospolita, about 2,500 employees may lose their jobs in the banking industry.
August 21, 2012
Allianz Austria: Stable Earnings and Rising Premium Income
In the first quarter of 2012, Allianz Austria recorded a 24% slump in earnings. Pre-tax profits grew slightly.
August 21, 2012
Czech VAT to Increase
In order to increase public revenues, the Czech government may increase value added taxes.
August 21, 2012
European Congress of Small and Medium – Sized Enterprises in Katowice
From 24th to 27th September 2012, the II European Congress of Small and Medium – Size Enterprises will take place in Katowice, Poland. 50 discussion panels are planned including over 250 speakers with 3500 participants.
August 21, 2012
Austrian Real Income Fell Dramatically
Economists often say that Austria has benefitted from the euro. According to a study of UBS, Austria has lost a substantial degree of prosperity, however.
August 20, 2012
Great Demand for Polish Sovereign Bonds
Last week, the interest rate on Polish sovereign bonds fell to a all-time low of four percent. However, a trend reversal is not unlikely.
August 18, 2012
Hypo Group: Major Risk Factor for BayernLB
The former owner of Hypo Group Alpe Adria, which was nationalized in 2009, may write down up to € 3.1bn.
August 18, 2012
VBAG to Sell Container Business
The Austrian partly nationalized bank is said to sell its container leasing business for € 163m.
August 18, 2012
Poland Does Not Expect Recession in 2013
The Polish Minister of Finance Jacek Rostowski explained that the Polish economy will grow by 2.5% this year.
August 18, 2012
bwin Enters into Partnership with Manchester United
bwin, Europe’s leading sports book, today announces a new agreement with Manchester United to become the club’s official online gaming and betting partner.
August 18, 2012
Poland´s Deficit Target in Danger
The Polish government may fail the 3.0% deficit target in 2012. Above all, the economic slowdown is a risk factor.
August 17, 2012
Foreign Currency Loans Decrasing
Foreign currency loans: One quarter of all Erste Bank customers have converted or switched loans with payment vehicles.
August 17, 2012
Austria Faces No Recession Yet
According to a flash estimate for the second quarter of 2012, the Euro area and EU27 GDP was down by 0.2%.
August 14, 2012
Austrian companies profiting from the Olympics
The London Olympics were responsible for prestigious and lucrative orders running into double-digit millions in the run-up to the games.
August 14, 2012
Tax Deal with Switzerland in Doubt
After a CD containing data of foreign tax evaders was bought by German authorities, Switzerland may hold a popular vote on the tax deal with Austria.
August 13, 2012
Profits Grow Slower in Polish Banking Sector
The Polish banking sector is still very stable. However, a trend reversal is foreseeable.
August 10, 2012
Fewer Passengers at Austrian Airlines
AUA´s capacity utilization rose substantially. Against July 2011, the number of passengers was down by 5.6%.
August 9, 2012
East European Banking Industry Shows Ambiguity
For West European banks, their subsidiaries in Eastern Europe are either highly problematic or the cash cows.
August 8, 2012
No Merger Between VBAG and Bawag
Bawag´s CEO Byron Haynes reaffirmed that U.S. owned bank is not interested in a merger with the partly nationalized VBAG.
August 6, 2012
Polish Business Service Sector Booming
In 2011, 38 new business service centers were established in Poland. The number of employees doubled since 2009.
August 4, 2012
Telekom Austria Reconsiders Takover of „Yesss!“
The takeover of Hutchison/Orange and Telekom Austria/Yesss! becomes difficult. After the new EU requirements, Telekom Austria wants to examine the acquisition again.
August 4, 2012
Polish Industrial Sector Shrinks
Last month, the Polish purchase manager index could recover. Nevertheless, there is no tendency of growth yet.
August 3, 2012
Stable Retail Trade in Austria
In June 2012, the Volume of retail trade up by 0.1% in euro area was down by 0.3% in EU27.
August 3, 2012
Czech Republic: Erste Group´s CEO Advises Against Introducing the Euro
According to Andreas Treichl, the Czech Republic should not enter the Eurozone now.
August 2, 2012
Surprising Profit at AUA
Due to special items, Austrian Airlines could achieve positive results in the first half year of 2012.
August 2, 2012
VIG Streamlines its Market Presence in Poland
Vienna Insurance Group announced that the merger of InterRisk and PZM is completed.
August 1, 2012
AUA: Auditors Found Inconsistencies
In 2007, Austrian Airlines should not have recorded a profit, but a substantial loss of € 235m, auditors says.
July 31, 2012
New Unemployment Record in Eurozone
The Euro area unemployment rate came at 11.2% in June 2012. Austria leads the ranking.
July 31, 2012
Austria: Guarantees Reach Half of Public Debt
Among EU members, only Ireland has more guarantees as a percentage of GDP.
July 30, 2012
Schlecker Austria to be Rescued?
The Austrian subsidiary of the bankrupt German chemist chain and its subsidiaries in Poland, Italy, Belgium and Luxembourg may be continued.
July 30, 2012
Kapsch TrafficCom: Major Contract in U.S.
The Austrian IT company achieves a contract award in Texas for supply of first total system in North America. The contract value for implementation reaches $ 79 million (about € 64m).
July 30, 2012
Spindelegger: “EU human rights policy has been given a voice and face”
Austria’s Foreign Minister congratulates Stavros Lambrinidis on his appointment of EU Special Representative for Human Rights.
July 30, 2012
Austria is Liable for Hypo Group´s Major Loan
At the sale of Hypo Group by BayernLB in late 2009, BayernLB granted a loan of € 2.64bn. The Austrian state has issued a guarantee for this loan.
July 27, 2012
Government Puts Kommunalkredit for Sale
The nationalized Austrian lender Kommunalkredit should be sold until 2013. Offers must be to submit to Morgan Stanley until August 16.
July 26, 2012
„AUA Must Be in the Black Numbers“
For Austrian Airline´s CEO Jaan Albrecht, the implementation of the austerity program and the transfer of undertaking is mandatory.
July 26, 2012
Ukraine Emitted Eurobonds of USD 2 Billion
This Eurobond emission has been the largest in Ukraine ever. The Ministry of Finance has leveraged capital markets current developments thus ensuring that 260 investors’ final order volume constitutes USD 5.8 billion.
July 26, 2012
Former AUA Board Member Bierwirth Enters T-Mobile
Andreas Bierwirth becomes CEO of T-Mobile Austria. The current CEO Robert Chvatal leaves the company for “personal reasons”.
July 25, 2012
Schlecker´s Financial Situation Becomes Critical
Schlecker Austria, the subsidiary of the insolvent German chemist chain, is becoming more and more problematic. The liquidity is said to be used up in a few days.
July 25, 2012
EU: "Growth without New Debt"
Austrian State Secretary Wolfgang Waldner at the General Affairs Council in Brussels: “Further intensive work on Europe in the next six months under Cypriot EU Presidency”
July 25, 2012
Moody´s to Watch Austria Carefully
After the U.S. rating agency has lowered the outlook for the AAA-countries Germany, Netherlands and Luxembourg, Austria´s rating will be checked thoroughly.
July 24, 2012
Ams: Revenue Growth Reached 66%
ams reports second quarter and first half results. EBIT was up remarkably.
July 24, 2012
EU Commission Approves Orange Takeover
The Hong Kong-based telecommunication company Hutchison is allowed to acquire the third-largest player in Austria.
July 23, 2012
Bank Insolvency Law: No Austrian Solo Run
Austria´s government changed its mind. There will be no national bank insolvency law. Austria will wait for a European solution instead.
July 23, 2012
Sikorsky and Pankl enter into new long Term Supply Agreement
Austrian Pankl Aerospace Systems wins first Sikorsky Entrepreneurial Challenge.
July 23, 2012
Rise in Public Debt Unstopped
In the Euro area, government debt was up to 88.2% of GDP. Due to the European debt crisis, Austria´s public debt level will increase from 72.2% to 74.7% of the country´s GDP.
July 23, 2012
Hutchison: „Telecommunication Network Overburdened in Two Years“
Jan Trionow, CEO of Hutchison Austria, appeals on authorities to approve the takeover of the competitor Orange. The Austrian telecommunication network will face capacity problems soon.
July 21, 2012
Austerity Program at RBI
Raiffeisen Bank International´s CEO Herbert Stepic is against a capital increase. The market conditions would be unfavorable.
July 20, 2012
MTH Takes Over Schlecker´ Subsidiary
MTH, the investment company of the Austrian industrialist Josef Taus acquires 109 branches of IhrPlatz, a subsidiary of the insolvent German chemist chain.
July 20, 2012
Novomatic Expands into U.K.
Astra Games Limited, part of the Austrian Novomatic Group confirmed that, the purchase of trade and assets of the Danoptra Group companies Gamestec Leisure, Bell-Fruit Games, RLMS Sales and Mazooma Interactive Games has now been formally concluded.
July 20, 2012
CA Immo Continues Sales in Berlin
The planned liquidation of land reserves in Berlin by the Austrian property company CA Immo is gathering pace.
July 20, 2012
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