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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
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
Austria Ranks Third in EU Productivity Study
The report points out structural weaknesses and suggests more effective public spending in the fields of education, research and innovation.
October 14, 2011
CRM of Doka Group Awarded
An international jury awarded prizes for the best customer-relationship management projects, ranking Doka among the top three companies, at the Customer-Relationship Management (CRM) Expo in Nuremberg, Germany.
October 14, 2011
VBAG Expects Massive Loss
The Austrian bank has to write off € 700m on the book value of its participations in Investkredit and Volksbank Romania. The state’s participation capital will not be repaid this year.
October 14, 2011
Binder+Co Presents Promising Technology
The Austrian machine and plant manufacturer and a Chinese partner together developed a new method for production of lightweight materials.
October 13, 2011
Slovakia Approved EFSF
After unsuccessful voting on Tuesday, Slovak lawmakers supported today the enlargement of the European Financial Stability Fund.
October 13, 2011
Polish Foreign Trade Will Increase by 125% by 2025
The world trade will increase only by 73%, states the report of HSBC Trade Connections. The document presents forecasts for the international trade in the perspective of several years.
October 13, 2011
CA Immo Commences Hotel Construction in Berlin
The Austrian real estate company invests € 53.2m in the Europacity development project. The hotel is scheduled for completion in 2013.
October 13, 2011
Vienna Insurance Group Has Its Own Funds to Buy the Polish Insurer Warta
Guenter Geyer, the head of the Austrian insurance company quoted by the Polish daily Gazeta Prawna confirmed the interest in an auction of the Warta Insurance and Reinsurance Company.
October 13, 2011
Greiner Packaging Expands its Network in Romania
The Austrian packaging producer took over the major share of S.C. Amplast Co S.A. from a group of private owners.
October 13, 2011
International Russia - Austria Conference
Austrian Standards hosts a conference on 2 and 3 November in Vienna. Its topic: International standards as a basis for successful economic co-operation.
October 12, 2011
OeEB Grants Credit to Azerbaijani Bank
DemirBank receives $ 25m from the Austrian Development Bank, RBI and other lenders to support entrepreneurs in Azerbaijan.
October 12, 2011
Immofinanz Opens Shopping Center Extension in Poland
The Austrian real estate company invested € 50m in the project, making it one of the top five shopping centers in Poland.
October 12, 2011
Slovakia Against the Enlargement of the Euro Zone Bailout Fund
After six hours of heated debate Slovak lawmakers failed to approved the European Financial Stability Fund (EFSF).
October 12, 2011
Czech Consumer Price Index Increased by 1,8% Compared to September 2010
According to research released by the Czech Statistical Office, consumer prices decreased in September by 0.2 %, month-on-month.
October 12, 2011
Hungarian Consumer Price Index Increased by 3,6% Compared to September 2010
In September 2011 consumer prices increased by 3.6% compared to September 2010, it was the same rate as in the previous month, registered the Hungarian Central Statistic Office.
October 12, 2011
Drop in Car Production in Poland
In September 2011, the production of passenger cars and commercial vehicles in Poland amounted to 70,521 units, an increase by 63,24% (27,319 units) compared to August 2011 reported the Samar Institute.
October 12, 2011
Verbund´s Subsidiary Expands in Italy
Sorgenia, the Italian subsidiary of the Austrian energy group Verbund, now provides electricity also for private households.
October 11, 2011
Bank Austria Optimizing its Activities in Russia
Sergey Sidorov to remain CEO until year end and to support the organizational and strategic Changes. Alexander Cheporov to become Head of Equity Brokerage Operations.
October 11, 2011
Skoda’s Domination in Poland
According to research conducted by Samar, Skoda has been the unquestionable leader of the Polish car market during last 30 months.
October 11, 2011
Gloom Over Clothing Industry in Poland
In the first half of this year over 13 thousand of clothing shops disappeared from the Polish market.
October 11, 2011
Santander Close to Become a Leading Player in Poland
According to the Polish daily Rzeczpospolita, Santander, the Euro zone’s top lender, made a binding offer for Polish Kredyt Bank.
October 11, 2011
NKE Expands in Spite of Stagnation
The Austrian engineering company invests massively and created further jobs. The entry to China should bring growth again.
October 10, 2011
Austrian Food Exports are Booming
About 66% of the domestic food production is being exported. Germany remains the most important foreign market.
October 10, 2011
Vienna Airport to Cooperate Closer With Bratislava
The Vienna International Airport (VIA) is looking for potential synergetic effects in Bratislava, which should bring further passenger growth.
October 10, 2011
UniCredit: Sale of Bank Austria?
According to market rumors, the Italian bank considers to sell its Austrian subsidiary in order to strengthen its own position. Bank Austria´s CEO Cernko denies fiercely.
October 8, 2011
Upper Austria Waits for Google
The Austrian province already has provided the infrastructure for the U.S. internet service provider google. But construction works for the data processing center did not began until now.
October 8, 2011
Kärntner Sparkasse Finalized Withdrawal from Italy
The Carinthian bank will close its operating business in Italy. The branches have been overtaken by the South Tyrolean “Südtiroler Sparkasse”.
October 8, 2011
RBI: Capital Injection for Hungarian Subsidiary Likely
The Austrian bank’s losses from the conversion of foreign currency loans will amount to approximately € 100m.
October 7, 2011
OMV’s Petrom Opens Wind Park in Romania
The subsidiary of the Austrian energy group invested a total of € 90m. The park has an installed capacity of 45 MW.
October 7, 2011
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