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Vienna International Business News | Economic | Investment | Financial

Only 3 Austrian Delegates at the St. Petersburg International Economic Forum 2014

Thousands of economic experts, businessmen and policymakers are currently in Russia's northern capital St. Petersburg for the 18th annual investment forum. Less foreigners are attend this year, as CEOs have bowed to political pressure to cancel.

May 23, 2014

Hypo Alpe Adria Appoints New Supervisory Board

At an Extraordinary General Meeting of Hypo Alpe Adria International on Friday, a new Supervisory Board was appointed.

May 23, 2014

Switzerland: IMD Releases the World Competitiveness Yearbook Ranking 2014

The US leads, Europe recovers, and big emerging markets struggle.

May 22, 2014

High Potential for Austrian Investments in Moldova

Austria is one of the most active countries in the CESEE region ranking first in foreign direct investments (FDI) in many countries.

May 22, 2014 · Updated: May 22, 2014; 13:05

Austrian Oberbank Shines in Hungary

Austrian Oberbank bucks the trend of terminating business activity in Hungary. Instead, the financial institute plans on growing in one of the most difficult markets in Europe.

May 22, 2014

Gas Deal: China to Invest $22Bln, Russia to Invest $55Bln

Russia’s overall investment on delivering gas to China is $55 billion and China’s investment is estimated at around $22 billion according to a contract signed by the two countries in Shanghai, Russian President Vladimir Putin said Wednesday.

May 21, 2014

Exporttag: Meet All Austrian Trade Delegates at the Export Day 2014

On June 24, the Export Day (Exporttag) of the Austrian Chamber of Commerce (WKO) will take place in Vienna. Economic delegates from all over the world will be present.

May 20, 2014

“Romania Can Never Become the China of Europe”

Stabilization in Central and Eastern Europe (CEE) is becoming stronger. However, the political crisis in Ukraine is causing a feeling of insecurity among the population.

May 15, 2014

Raids at Romanian Affiliate of VIG

A number of business locations of Omniasig, the Romanian affiliate of Austrian insurer VIG, were searched by the police. Several employees are accused of forgergy and abuse of authority.

May 14, 2014

voestalpine to Invest Further in China

Listed Austrian steel producer voestalpine opened another business location in China.

May 14, 2014

Conwert Slips into the Reds

Austrian residential real estate enterprise is facing a hard time in Germany.

May 14, 2014

Edi Rama: "If Europe Decides Not To Need Muslim Balkan States, Terrible Things Will Happen"

The Albanian Prime Minister Edi Rama visited the Bruno Kreisky Forum in Vienna.

May 13, 2014

Czech Republic: Rosatom to Complete Temelin?

Russian State Atomic Energy Corporation Rosatom presented an offer to complete the units of the Czech nuclear power plant Temelin.

May 12, 2014

Nexans to Build Plant in Bulgaria

According to the Bulgarian Economy Ministry, French cable car constructor Nexans will establish a plant employing 600 persons.

May 12, 2014

Lithuania Locomotive for Baltic States

Among the three Baltic conomic growth saw the highest increase in Lithuania.

May 12, 2014

World Bank Approves Health Loan to Croatia

The Croatian government will use the World Bank’s funds for a national health program.

May 9, 2014

Romania: Raiffeisen Bank Issues Unsecured Bonds

Raiffeisen announced plans of issuing unsecured bonds at the stock exchange in Bucharest with a nominal value of RON 500m (€ 112.8m) with a maturity of five years.

May 9, 2014

CEZ Bulgaria in “Full Compliance with the Law”

CEZ, along with other foreign utilities in Bulgaria, does not regard itself being obliged to pay a certain amount to state-controlled utility NEK.

May 9, 2014

Telekom Austria: Considerable Losses in Croatia

Telekom Austria’s Croatian affiliate Vipnet saw a sharp decline in profits.

May 9, 2014

German Retailer Metro Faces Massive Losses in CEE

Sales in CEE declined 14.8 percent last year for German retail and wholesale enterprise Metro Group.

May 9, 2014

Bulgarian Mobile Affiliate of Telekom Austria Posts Loss in Profits

In the first quarter of 2014 revenues of Mobiltel, Bulgarian mobile operator and affiliate of Telekom Austria, dropped 6.4 percent year-on-year.

May 9, 2014

Fiat Intensifies Investments in Poland

As reported by Polish daily Puls Biznescu, Italian automotive manufacturer Fiat plans on lauching the production of a new series, similar to the so-called Punto.

May 9, 2014

Poland: Banking Industry’s Profits Down

In the first quarter this year, the net profit of Polish banks came at PLN 3.97bn (€ 944m, down by 2.9 percent year-on-year, as reported by the Polish financial market regulator KNF.

May 9, 2014

Michelin to Downsize in Hungary

French tyre producer Michelin announced to shut down ist tyre plant in Budapest and relocate to Romania.

May 9, 2014

MOL: Oil Supply to Hungary not Endangered

According to Hungarian oil and gas enterprise MOL, the supply to Hungary is not endangered by the delivery stop of Russian oild products passing through Ukraine.

May 9, 2014

Sanction Imposed on Expobank

Russian-Latvian Expobank was added to the Canada’s black list.

May 9, 2014

Calls for European Energy Union Become Louder

Polish PM Tusk called for a European energy union. His Hungarian counterpart supports the idea.

May 9, 2014

Wesner: “Failing in Business Does Not Mean Personal Failure”

The start-up culture in Austria is clearly different than the one in the US. On the occation of the May Day, experts, including US ambassador to Austria Alexa Wesner, talked about the differences in the start-up scenes.

May 8, 2014

Verbund: Trying to Get Rid of Sorgenia

The Austrian utility Verbund announced not being willing to invest any further money into loss-making Italian energy group Sorgenia.

May 8, 2014

Prime Minister Edi Rama: Albania’s European Renaissance

Edi Rama, Prime Minister of Albania since 2013 is going to address the Bruno Kreisky Forum in Vienna.

May 8, 2014

Austria: Mitsubishi Takes Over Majority Stake in Siemens‘ VAI

The industrial systems subsidiary of Siemens, VAI with the business location in Linz, is sold to Japanese competitor Mitsubishi Heavy Industries (MHI).

May 7, 2014

EU Council Trying to Find a Way Out of Ukraine Crisis

Ahead of the European Council, which is currently taking place in Vienna under the Austrian presidency, Foreign Minister Sebastian Kurz declared not to expect a solution for the conflict in Ukraine.

May 6, 2014

Pewag Striving for Larger Market Share in US

The Austrian snow chain manufacturer appreciates the label “Made in USA”.

May 6, 2014

Vranitzky: Joining EU One of the Most Courageous Steps

A symposium showed the EU Accession process of Austria in the early 1990’s in a new light.

May 6, 2014

“US Rolls Out Red Carpet for Austrian Industrial Enterprises”

Potential Austrian investors are attracted with many incentives such as low energy costs, few bureaucratical hurdles and excellent infrastructure.

May 5, 2014 · Updated: May 6, 2014; 13:25

Agenda Austria 2020: Economy = State

The think tank Agenda Austria 2020 is currently tackling the question what the “economy expects from the state”.

May 5, 2014

Federation of Industries: “Industrial Compact“ for European Competitiveness

The Austrian Federation of Industries (IV) considers the EU entry of Austria as the basis of prosperty and economic growth in the past years. However, now reforms are required to catch up to a global level.

May 5, 2014

Slovenia: Bratusek Remains PM for Time Being

The date of the early elections in Slovenia will be determined this weekend.

May 3, 2014

Hypo Group: Shady Deals with Balkan Diplomats

The Austrian problem bank Hypo Group has troubles recovering debts.

May 3, 2014

Bulgaria: Banking Sector Getting Back on Feet Again

In the first quarter this year profits of the Bulgarian banking sector grew by 34 percent.

May 2, 2014

Bank Austria: “Russia is Still Profitable”

According to Vice CEO of Bank Austria and head of business operations in CEE Gianni Franco Papa, business in Russia is not yet affected by the political crisis in Crimea.

May 2, 2014

Slovenian Banka Celje Needs Further State Aids

Because of the failed capital increase in the amount of € 160m, Banka Celje is requiring further state capital.

May 2, 2014

Austria: Hypo Group Investigation Committee to be Established?

Will the Austrian government soon give in to establishing an investigation committee for problem bank Hypo Group?

May 2, 2014

Fitch Upgrades Rating for Slovenia

Fitch Ratings has revised the Outlook on Slovenia's Long-term foreign and local currency Issuer Default Ratings (IDR) to Stable from Negative and affirmed the IDRs at 'BBB+'.

May 2, 2014

New Serbian Government Wants Speedy EU Accession

The new Serbian government is determined to accelerate the EU accession progress.

May 2, 2014

Majority of Czech Entrepreneurs Want Euro

According to a survey, more than three quarters of Czech entrepreneurs are in favor of the country adopting the Euro.

April 30, 2014

Austria: Hypo Reveals Profit Losses

The Austrian branch of Hypo Bank, which was privatized last December and is going to be renamed to Austrian Anadi Bank, has published the annual financial report for the year 2013.

April 30, 2014

Austria Gives up Bank Secret for United States

Austria and the US have signed an agreement for the exchange of fiscal data. However, the agreement could be renewed soon.

April 30, 2014

Poland: Bank BZ WBK Expects High Growth of Profit

The Polish affiliate of Spanish Banco Santander, Bank BZ WBK, expects net profits in 2014 to increase compared to last year’s volume.

April 30, 2014

Austria: Industrial Production with Growth Potential

Austrian industry continues to grow - but somewhat less dynamically than at the turn of the year.

April 30, 2014