Austria and Bulgaria - Read the latest headlines about bilateral relations in the areas of economy, business, investment, diplomacy, culture and tourism
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Bulgaria in Austria | Bulgarians in Vienna | Bilateral Relations

EU Calls for Opening of Labor Markets to Romanians and Bulgarians

The European Parliament wants a solution by the end of 2011 and does not see any negative effects on social welfare systems.

October 27, 2011

Negative Results for S&T

The Austrian IT service provider S&T had to report losses in the third quarter of 2011. Sales were below expectations.

October 22, 2011

Growth of CEE Region Under Threat from Eurozone Crisis

The EBRD research is predicting a slow-down in emerging Europe’s economic growth next year with the continuing eurozone sovereign debt crisis posing challenges to recovery from the 2008-09 global financial crisis.

October 18, 2011

Spectacular Surge in Profits of CEE Technology Companies

The annual Deloitte Technology Fast 50 Program honors the fastest growing Central European technology companies. It is based on the percentage of revenue growth over five-year period.

October 18, 2011

Raiffeisen's Comment on Current Developments of CEE Eurobonds

Eurobond markets felt the deteriorating market sentiment in recent weeks, reported Raiffeisen Research.

October 18, 2011

CEE Less Vulnerable to Severe Economic Crisis

The reaction of the CEE region to the global slowdown should be less severe than in the post-Lehman crisis, as CEE economies are in a completely different stage of their economic cycle and have reduced their imbalances.

October 17, 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

Upward Trend in CEE Real Estate Market

Erste Group: “CEE Real Estate stocks with upside potential of 15%, profitability lags behind”. The upward trend in CEE is driven by low vacancy, strong occupier demand and low pipeline.

October 3, 2011

BP Plans Rival Project to OMV´s Nabucco

The British Petrol Corporation intends to open up new gas fields in the Caspian region. BP is thus a new competitor for the Austrian OMV.

September 27, 2011

No Common Trend for CEE-Countries

Regarding economic growth, prospects for CEE countries have worsened slightly. However, the region remains heterogeneous.

September 13, 2011

New Road Construction Project in Bulgaria for Alpine

Rehabilitation of 109 km of road - Contract value: € 20 m - 24-month construction period.

September 12, 2011

CEE-Region Remains Essential for Austrian Insurance Companies

According to a current market survey of Fitch, the CEE region plays a central role for domestic insurance companies. There is still growth potential.

September 12, 2011

CEE Economic Forum: Green Trends for Eastern Europe

In 2011, Forum Velden in Carinthia celebrates its 5th anniversary. Since its foundation in 2006, over 1.500 experts, top-managers and politicians from over 25 countries have participated in the Forum.

September 7, 2011

Slow Growth for CEE Telecom Sector Expected

Austrian Erste Group: “Seasonality and mobile data growth as key driver in H2 2011. The industry continues to struggle from slow consumer and public spending – Stabilisation to be expected in 2012.”

September 7, 2011

Raiffeisen Centrobank Reports Increase in Profit

Net interest income declined, while trading profit and net fee and commission income increased substantially. Turbulences on financial markets might burden the bank’s business development.

September 2, 2011

Borealis Doubles Profit and Expects Challenging Market Conditions

The Austrian chemical company delivered strong second quarter results despite a softening market environment.

August 11, 2011

EVN Expands in Bulgaria

The Austrian electricity company invested € 5m in the construction of a solar power station in Bulgaria and increased its stake in a joint venture project in the country.

July 21, 2011

Atrium Executes Settlement Agreement with Multi Investment

As a result of the agreement, the American-Israeli real estate fund will receive net cash of € 64m and generate a profit of € 156m.

July 15, 2011

UniCredit and Raiffeisen Seek to Broker Bulgaria's EVN Stake Sale

Bulgaria is going to sell its minority stake in an electricity distributor operated by the Austrian energy company.

June 3, 2011

AUA Give Up Their Focus on CEE

Austrian Airlines are going to improve their connections to Western Europe at the expense of their destinations in the East. The company is currently serving 46 airports in CEE.

May 30, 2011

Eastern Europe Becoming Attractive Again

For two years Austrians have abstained from investing in Eastern Europe, resulting in a loss of market share in these countries. Interest starts to recover now.

May 25, 2011

Wolf Theiss Identifies Opportunities in CEE Electricity Markets

Significant legislative changes particularly in Bulgaria and Romania, two of the most dynamic markets for RES-Electricity in the CEE/SEE region, have resulted in a dramatic increase in investor and other stakeholder interest in such projects.

May 3, 2011

SW Umwelttechnik Reports Satisfying Rise in Sales

Sales of the Austrian technology company were up by 12%. The company completed its first major export projects in Bulgaria and Moldova.

April 28, 2011

Shipping on the Danube is Far Below its Potential

Capacities are only being utilized in modest proportions on Austria’s main waterway. Investments in expansion would be necessary.

April 23, 2011

Real Purchasing Power: The Gap Between Austria and the CEE Region is Getting Smaller

For the coming years, a steady rise in unit labor costs in the CEE countries with the corresponding impact on the competition for business locations is expected.

April 16, 2011

Economic Growth in CEE and Austria Remains Solid

Concerning the equity markets as well as the economic circumstances, Raiffeisen Research is quite optimistic. In 2011, a further economic recovery is expected.

April 6, 2011

Southeastern Europe as a Region of Hope for Austria

Great interest of Austrian companies at the Austria Foreign Trade Forum on Export and Investment Opportunities in Southeastern Europe

April 2, 2011

Bulgaria: EVN Thermal Power Plant Almost Completed

The project of the Lower Austrian energy company EVN in Bulgaria will go into operation still this year.

March 17, 2011

Leitl: "Austria Continues as Top Investor in Bulgaria"

Bulgarian President Parvanov for economic talks at the WKÖ: Foreign trade volume between Bulgaria and Austria amounts to € 900m.

March 9, 2011

Tourism: Trend for High-Price Segment Continues

Austria's tourism industry shows itself satisfied with the current winter season. Guests come increasingly from Eastern Europe.

March 3, 2011

Henkel CEE grows in Eastern Europe

The German company, which has set up its Eastern European headquarters in Vienna, achieved a sales increase of 6%.

February 26, 2011

Strong Growth for bauMax

The do-it-yourself group increased its sales in Austria and Eastern Europe in 2010.

February 18, 2011

Upward Trend for CEE Insurance Stocks

CEE insurance stocks to get a boost from rising profits, cheap valuation and stronger investor demand.

February 10, 2011

Business Climate Improves in Eastern Europe

According to the Austrian Kontrollbank (OeKB), the Business Climate Index has risen in Eastern Europe for the seventh consecutive time.

February 9, 2011

Rising Bankruptcy Fears in Eastern Europe

The Austrian Creditor Protection Association “Creditreform” foresees a further rise in bankruptcies in Eastern Europe. The economic crisis is not over yet.

February 9, 2011

150 New Bank Austria Branches in Eastern Europe

The new board of the CEE Division of Bank Austria presented the group's expansion plans for Eastern Europe. By 2015, 900 branches are to be added.

February 9, 2011

Investments in Renewable Energies in the CEE are booming

According to a study by TPA Horwath, Austrian companies will expand massively their involvement in the field of renewable energies in the CEE region.

February 4, 2011

Telekom Austria Announces Closing of Spectrum Net Takeover

The acquisition of the second Bulgarian fixed network provider will be completed within the next weeks.

January 28, 2011

CEE Economic Growth Forecast: 3.8% in 2011

According to UniCredit, especially Turkey, Poland, Czech Republic and Estonia will bounce back impressively due to stronger industry and domestic demand.

January 13, 2011

CEE: Raiffeisen Remains Optimistic

The analysts of the Austrian Raiffeisen International Bank give Austria and the CEE good growth prospects. However, there still remain known risks.

January 12, 2011

CEE Stocks to Climb by 20% in 2011

Erste Group analysts recommend: stock picking rather than sector allocation. 2011 to be a positive year for equity investments.

January 5, 2011

Austria's Labor Market Opens

As of May 1, 2011 the German and Austrian labor markets open for the new EU citizens. Romania and Bulgaria will follow suit in 2013.

December 30, 2010

OeNB: Recovery of the Financial System in a Persistently Uncertain Environment

The OeNB considers that domestic banks benefit from the positive development in the CEE region. However, uncertainties stay on as before.

December 15, 2010

Austrian Economic Chamber Supports Development of the Danube as a Transportation Route

Austrian Economic Chamber President Christoph Leitl supports the EU's Danube region strategy to expand infrastructure between the Danube countries.

December 10, 2010

Austria's Position in the CEE Region Shakes

According to the Roland Berger consultancy agency, Austria receives not only competition in the CEE countries, but the importance of the region also decreases from a global viewpoint.

December 1, 2010

Bank Austria: Growth Potential for Real Estate in Romania and Bulgaria

Despite the signs of economic revival, Bulgaria and Romania markets are still largely being ignored by international investors, says Bank Austria.

November 29, 2010

Vienna Insurance Group Takes a 100% Stake in TBIH

VIG now realizes an increased involvement in Turkey, Ukraine and Georgia.

November 26, 2010

Erste Group: CEE Companies More Efficient than Western Counterparts

CEE companies are more efficient, more profitable and less indebted as Western companies. The German corporate sector is the only sector to compete with CEE companies.

November 10, 2010

Raiffeisen CEO Stepic: CEE Continues Being Europe’s Growth Driver

The boss of Raiffeisen Bank International Bank (RBI), Herbert Stepic, sees the CEE region continuing as long-term growth driver for Europe.

November 8, 2010

Wienerberger Plans Full Takeover of Semmelrock International

The purchase of the remaining 25% stake in Semmelrock International has been announced today. Wienerberger regards the acquisition as a “logical step”.

October 29, 2010