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
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
Hutchison´s CEO: „Austria Benefits from Merger“
Hutchison Austria still holds on the acquisition of the third largest telecommunication service supplier Orange.
July 19, 2012
Austria Has Fourth Biggest Net Surplus
The EU27 current account shows a deficit € 4.1bn. € 31.1bn surplus for trade in services.
July 19, 2012
U.S. Zumiez Acquires Austrian Action Sports Retailer
Blue Tomato Sold for € 60m. Zumiez Inc. Acquires Leading Austrian Action Sports Retailer
July 18, 2012
Schlecker Austria: Time Pressure Grows
The potential buyers of Schlecker Austria are still highly skeptical. Until August, a decision must be taken.
July 18, 2012
Fischer Signs ESM and Fiscal Pact
The Austrian Federal President Heinz Fischer approves the parliamentary referanda on the highly controversial ESM and Fiscal Pact. Now, only a constitutional complaint may prevent these issues.
July 17, 2012
Switzerland: Popular Vote on Tax Treaty with Austria?
The bilateral tax treaty should bring Austria up to € 1.0bn After the treaty is signed and ratified, a popular vote may prevent the deal now.
July 17, 2012
FACC Builds New Technology Center
The Austrian aviation company enlarges its R&D activities. The new technology center should be completed in 2013.
July 16, 2012
Further Increase in Austrian National Debt
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 16, 2012
“The time has come to design the EU of the 21st century”
„Europe – Quo Vadis?“ The Austrian Foreign State Secretary Waldner opens the Forum Europe in Styria with a keynote speech.
July 16, 2012
CA Immo: Success in Berlin and Munich
The Austrian real estate company has sold extensive land reserves in Berlin and has concluded further rental contracts in Munich for the Skygarden office building.
July 16, 2012
Poland Not to Enter the Eurozone Soon
For the time being, Poland will keep the Zloty. After the Eurozone has managed the current crisis, an accession is conceivable, Foreign Minister Radoslaw Sikorski says.
July 14, 2012
Income Grows Slower Than GDP
For years, the increase in wages and salaries is lower than the rise in company profits.
July 14, 2012
Sberbank to Provide € 300m for VBI
The Russian Sberbank intends to inject € 300m into the Austrian VBI (Volksbank International). Growth into the CEE region should be promoted.
July 13, 2012
Kapsch: Poland Showing Excellent results
Revenue for Poland of over € 178m, investments amortized after only 18 months
July 13, 2012
Schuler Recommends Accepting Takeover Bid by Andritz
The Board of Management and the Supervisory Board of the German engineering company recommend that shareholders accept the takeover bid issued by Andritz. A Bid price of € 20.00 per share is deemed to be fair.
July 12, 2012
Zumtobel Group Strengthens its Presence in China
The Austrian lighting company announces that the newly built factory was opened in Tianjin, China, for road and tunnel lighting. R&D activities in China will be expanded.
July 12, 2012
Crossing Borders - Expectations towards Europe
From Date: Saturday, September 1, 9:00 am to 2:00 pm, the Alpbach Closing Event “Crossing Borders - Expectations towards Europe” takes place.
July 12, 2012
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