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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
Personnel Changes in the Managing Board of Czech VIG Subsidiary
The Austrian Vienna Insurance Group reshuffles the board of the Czech Kooperativa.
October 5, 2011
Trade Chain Adeg to Achieve Turnaround in 2012
The Austrian subsidiary chain of the German Rewe group still faces losses. By 2012, Adeg should leave the red zone.
October 5, 2011
Generali Austria Report Small Rise in Premiums
The Italian insurance group shows a small rise in premiums in spite of a difficult Austrian insurance market.
October 5, 2011
Ukraine Guarantees Gas Supply to Austria
The Ukraine invites Austrian companies to construct liquefied gas terminal.
October 5, 2011
conwert Takes Over Property Management for German Tower Group
Additional management of more than 4,600 residential and approx. 300 commercial units in Berlin and North Rhine-Westphalia At 30 June 2011, Austrian conwert managed a total of 60,825 residential and commercial units.
October 5, 2011
Vienna Insurance Group Merges Bulgarian Subsidiaries
The Austrian insurance corporation intends to strengthen its market presence via the merger of Bulstrad and Bulgarski Imoti,
October 5, 2011
BMW Austria Fears Lack in Skilled Labor
The German automobile corporation´s factory in Steyr, Austria, already produces 5000 engines per day. 200 new workers were hired this year.
October 4, 2011
OMV: Withdrawal from Czech Republic Possible
The Austrian energy company plans to leave the Czech petrol station market, reports the Czech Television (CT). Proceedings will be needed for the expansion of the gas business.
October 3, 2011
Hostile Takover of Telekom Austria?
According to market rumors, Telekom Austria prepares measures against a potential takeover. Currently, the corporation faces several troubles.
October 3, 2011
Potential for Austrian Suppliers in Spain
The Austrian AWO started a market exploration journey to Spain in order to create first business contacts. In the first term of 2011, exports to Spain grew by 6.6%.
October 3, 2011
Dutch Imtech Acquires Austrian Comnet
The Dutch Imtech (technical services provider in Europe) announces that it acquires the Austrian ICT company Comnet. This acquisition will strengthen Imtech’s position in the Austrian ICT market.
October 3, 2011
Czech Railways Orders 16 Railjets from Vienna
Major Order for Siemens Austria from the Czech National Railways Ceske Drahy: the railway group exercises an option, which was reserved for the Austrian Federal Railways originally.
October 3, 2011
Chinese Interest for ATB
After the collapse of the takeover of A-Tec, the subsidiary has to be sold separately. The Chinese Wolong group plans to acquire the Austrian automotive company.
October 1, 2011
Springer Shows Interest for „Krone“ and „Kurier“
The German media group is willing to purchase the major stakes of the Austrian newspapers “Krone” and “Kurier” held by the German WAZ (Westdeutsche Allgemeine Zeitung).
October 1, 2011
Slight Increase in Unemployment
Austria´s unemployment grew by 1.9% in September 2011. The main reason is the lower number of trainings.
October 1, 2011
RHI Buys Irish Raw Materials Producer
The Austrian producer of refractory materials takes over Premier Periclase Ltd. for a price of € 21m.
September 30, 2011
Sergey Monin Appointed as CEO of Raiffeisenbank in Russia
He succeeds Pavel Gurin who passed away at the start of September. The appointment is subject to approval of the Russian Central Bank.
September 30, 2011
Tiger Coatings Continues Expansion in China
The Upper Austrian producer of industrial coatings will open a new plant in western China. Group turnover will amount to € 175m in 2011.
September 30, 2011
Kresta Takes Over Swiss Buss ChemTech
The newly acquired company will become the technology center of the Austrian plant building company.
September 30, 2011
Strabag Awarded Motorway Project in Poland
Two subsidiaries of the Austrian construction group lead the consortium which signed a contract worth € 120m. The group’s share is 55%.
September 30, 2011
Andritz Not Affected by Belo Monte Construction Stop
The Austrian technology group is optimistic that the ban will be lifted soon and that the € 330m order will be fulfilled.
September 29, 2011
Voith Hydro Receives Major Order from Russia
The plant manufacturer was awarded a contract for modernization of a Russian hydro power station. Presence in the country will be expanded through a joint venture.
September 29, 2011
Intercell: EU Invests € 30m in Research Program
The Austrian pharmaceutical company will receive co-funding for a collaborative research project from the European Union.
September 29, 2011
VIG to Start Due Diligence on Warta in October
The Austrian insurance group intends to grow on the Polish market. An acquisition would double its premium income in the country.
September 28, 2011
Cartel Suspicions Against OMV
The Commission of the EU suspects ten gas companies of market abuse. The Austrian OMV wants to cooperate with the authorities.
September 27, 2011
Siemens VAI: Major Order from South Korean Steel Industry
The Austrian Siemens VAI Metals Technologies has received the order to build a steelwork. The factory´s capacity should be 2m tons per year.
September 27, 2011
Donau Chemie Builds Factory in Hungary
The Viennese chemical group builds a hydrochloric acid factory near the Hungarian capital Budapest for € 6m.
September 27, 2011
Atrium Completes the € 191m Acquisition of Palac Flora in Prague
The Vienna-listed real estate group extends its-Czech portfolio, which now reaches 98 properties after Prague's largest real estate transaction in 2011.
September 27, 2011
Austria´s Triple A „Not Endangered“
From a global view, 18 countries have a “AAA-status”. The current debt crisis makes market observers nervous.
September 26, 2011
Porr Cooperates with German InterCityHotel
In the coming years, the two German and Austrian companies plan 15 new hotels in the CEE area.
September 26, 2011
Strong Order Intake for Head
The Dutch and Vienna-listed sports article manufacturer Head records rising sales. Expectations for 2012/2013 are stable.
September 26, 2011
New Subsidiary for Rabmer Bau in Poland
The Austrian construction group, which is spezialized in renovating canal systems, established a new company in Poland.
September 26, 2011
“Austrian Exports to Turkey to Double“
According to the Austrian Chamber of Commerce in Istanbul, Austrian companies could benefit strongly from the persisting economic boom in Turkey.
September 26, 2011
Kneissl to Be Taken Over by Foreign Investor
Negotiations about the sale of the bankrupt Tyrolean ski producer are about to be concluded. Three investors from Europe and overseas are still interested in an acquisition.
September 23, 2011
RBI Defies Hungary’s Banking Tax
The Austrian bank is not planning to pull out of Hungary. Losses from the conversion of foreign currency loans cannot be estimated yet.
September 22, 2011
Immofinanz Acquires Property in Warsaw
The Austrian real estate company made its largest office property acquisition since 2008. The purchase price is € 102m.
September 22, 2011
OMV Strategy Update: “Profitable Growth”
OMV is hosting a Capital Markets Day and Media Summit in Istanbul to present an update on its strategy. The Strategy builds on growing OMV’s upstream portfolio, on expanding its integrated gas business and on restructuring the oil downstream segment
September 21, 2011
IMF: „NPL in Eastern Europe Decreasing“
After the announcement of the Hungarian government to convert foreign currency loans at the expense of banks, the IMF has good news for Austrian banks.
September 21, 2011
Layoff at UPC
The Austrian subsidiary of the U.S. group Liberty Global further reduces staff.
September 20, 2011
German and Austrian Economy Claim Improvements for Company Loans
Representatives of the German and Austrian Economy fear adverse impacts for company loans from the new Basel III rules.
September 20, 2011
Austria and Azerbaijan Expand Cooperation
An Austrian delegation will hold several meetings with Azerbaijani ministries and private companies.
September 20, 2011
OMV Publishes New Strategy
Gerhard Roiss became CEO of the Austrian OMV six months ago. This week, Roiss will present the company´s strategy at the capital market´s day in Istanbul, Turkey.
September 19, 2011
Turnaround of RCA Is „Very Close“
The restructuring process of the Rail Cargo Hungaria, a subsidiary of the Austrian Federal Railways (ÖBB) is going on. The rail cargo segment reports better results than expected.
September 19, 2011
Alpine to Build Hotel in Warsaw
The Austrian construction group will be general contractor of the project in Poland. Total contract value is € 32m.
September 16, 2011
Slovenian Blue Chips to Double List at Vienna Stock Exchange
In order to align with international capital markets the Ljubljana Stock Exchange wants to offer Slovenian companies the chance of double listing.
September 16, 2011
Erste Group: BCR Needs Capital Boost
The Austrian bank’s Romanian subsidiary may need additional capital due to high risk costs and the overall economic situation.
September 16, 2011
AMAG to Expand Capacity of Canadian Smelter
The Austrian manufacturer of aluminum products is currently negotiating the project with four partners.
September 16, 2011
Semper Constantia Invest Becomes Core Shareholder of German Praktiker
The Austrian investment company has increased its stake to become the second largest shareholder in the ailing German do-it-yourself store chain.
September 15, 2011
Erste Group Increases Stake in Romanian BCR
The Austrian bank enters into agreement with four regional investment funds to acquire a further 24.12% in its Romanian subsidiary.
September 14, 2011
EnBW with New Attempt to Sell Stake in EVN
The German group intends to sell its shares in the Austrian energy company in two or three steps. It currently holds 32.5%.
September 14, 2011
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