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Vienna International Business News | Economic | Investment | Financial

Hypo Group Further Losses to Be Expected

Huge losses by the sale of the SEE banking network could be expected.

April 30, 2014

EU Enlargement: A Success Story for Central Europe

Austria is one of the main beneficiaries of the EU enlargement of 2004.

April 30, 2014

Erste Group: Dramatic Profit Decline Stayed Away

Net profits amounted to EUR 103.3 million. Erste Group aims to keep profits stable in the near future.

April 30, 2014

Situation for Austrian Banks in Russia is “Sensitive”

According to the latest statistics, Austrian banks are considerably more engaged in Russia than assumed so far. Debts to domestic financial institutes amount to € 50bn.

April 29, 2014

Slovenia: Early Elections Announced

Contrary to the expectations Prime Minister Alenka Bratusek will remain in office after her defeat in the power struggle with party member of Positive Slovenia (PS) Zoran Jankovic.

April 29, 2014

Spindelegger: “Arsonists Are to Blame Not Fire Brigade”

The downsizing of ailing bank Hypo Group Alpe Adria is a heavy burden for this year’s budget. According to Finance Minister Spindelegger, the deficit comes at 2.7 percent of GDP while public debts will soar.

April 29, 2014

Polish Banking Sector: “Too Early for Recovery”

The Polish banking sector has to be patient for economic recovery to show on their results.

April 29, 2014

Future of Slovenian Government Still Uncertain

Early elections expected to be held in the fall.

April 29, 2014

Austrian Banking Sector Making Losses

For the first time in 2013, the Austrian banks made losses in the amount of € 1.035bn.

April 29, 2014

Hypo Group: Huge Burden for Austrian Budget

The downsizing of problem bank Hypo Group Alpe Adria is a huge burden for this year’s budget.

April 29, 2014

Slovenia: ”Everything Will Stand Still”

Due to the current political crisis the fear about devastating impacts on the Slovenian economy is high.

April 28, 2014

Austria: Is Spindelegger Suitable as Finance Minister?

On Tuesday the Austrian Finance Minister will hold his first budget speech. Initial figures reveal record debt levels.

April 28, 2014

Serbia: New Government Taking Drastic Measures

New head of the Serbian government Aleksandar Vucic has ambitious plans to reform the state and restructure state finances.

April 28, 2014

Slovenian Government to Collapse

After the Prime Minister Alenka Bratusek has lost the crucial vote against Zoran Jankovic, the Slovenian coalition is close to break apart. The ailing country faces new elections.

April 26, 2014

Budget Deficit: Austria Threatened with Penalty

Due to the capital injections into the distressed lender Hypo Group, Austria´s 2013 budget deficit will exceed the 3.0% threshold. According to Finance Minister Spindelegger, Austria might face an excessive deficit procedure.

April 25, 2014

Raiffeisen Bank International AG - SWOT Analysis & Company Report May 2014

This new report contains in depth information and data about Raiffeisen Bank International AG and its operations and markets. It contains an overview, business and strategy description, financial ratios, valuation & forecast data and a SWOT analysis.

April 25, 2014

Slovenian Coalition in Danger

Prime Minister Alenka Bratusek may lose her job. The governing Slovenian party PS is preparing for a crucial vote.

April 25, 2014

Austria: Bank Levy Begins to Wobble

Austria´s Minister of Economics Reinhold Mitterlehner proposed to reduce the bank levy. The coalition partner, the social democrats, is surprisingly open to talks.

April 25, 2014

„Brussels Must Reconsider Enlargement Policy“

Austrian Minister of Foreign Affairs Sebastian Kurz criticized the EU´s approach towards Ukraine. However, the EU has to develop further.

April 25, 2014

Croatia Faces Radical Fisal Measures

The fiscal situation of the Balkan country and youngest EU member state is disastrous. The Croat government announced to introduce new taxes.

April 25, 2014

Poland Fears War in Ukraine

According to Poland´s Prime Minister Donald Tusk, Poland should prepare for the worst case in Ukraine.

April 25, 2014

Austrian Households Hold Financial Assets Worth € 500bn

Last year, financial assets grew by 1.4% in nominal terms. New debts grew by 0.5% only.

April 24, 2014

Austrian Public Debt Almost at 80% of GDP

The Austrian public debt burden will reach a new all-time high at the end of the current year. The challenging fiscal situation is partly attributable to the capital injections into Hypo Group Alpe Adria.

April 24, 2014

Do Taxes Justify a Relocation of Business?

Tax sensitive business operations should be relocated to other areas if necessary, according to the head of Erste Bank Austria.

April 24, 2014

Austria: Difficult Market Situation for Selling Bawag

The selling of Bawag PSK proves difficult for its owner which is why an IPO is considered a realistic phasing-out scenario. However, experts doubt that an IPO will be a “highflyer”.

April 24, 2014

Poland: BNP Paribas Bank Polska Hopes for Higher Profits

Because of the merger with BGZ Bank BNP Paribas Bank Polska, the Polish branch of the French financial giant, expects a growth of return on equity (ROE) in the double-digit figures.

April 24, 2014

Eder: Policy-Makers Have to Make Decisions

Wolfgang Eder, CEO of Austrian steel manufacturer voestalpine, claims not to have heard anything from the Austrian policy makers after he raised criticizm with regard to the Austrian business location.

April 24, 2014

Vienna Real Estate Market Hopelessly Overstrained?

Real estate trustees in Vienna demand a limit to state-subsidized apartments and call for “unrestricted” rents.

April 23, 2014

Romania: BRD Group Societe General with High Expectations

The Romanian lender intends to increase its lending by four percent in 2014.

April 23, 2014

Slovenia: List of Debtors of NLB Published

The Slovenian bad bank BAMC (Bank Asset Management Company) has published the list of debtors of the country’s two largest banks, which are responsible for the disaster of the state-controlled banks.

April 23, 2014

Struggling Insurance Industry

Despite favorable results last year the European insurance market has to face a number of adverse factors.

April 23, 2014

Serbia: “Huge Challenges Ahead”

President Tomislav Nikolic appointed Aleksandar Vucic to form a new Serbian government.

April 23, 2014

Austria: Calls for Reduction of Bureaucracy Become Louder

Bureaucratic hurdles burden the Austrian enterprises the most apart from taxes and other levies.

April 23, 2014

Austrians Cautiously Observant

Despite economic recovery the Austrian citizens are still cautiously observant.

April 22, 2014

Serbia: Key Rate Kept Unchanged.

The NBS (National Bank of Serbia) decided to keep the policy rate unchanged as there is no threat of inflation.

April 22, 2014

Austria: Hypo Commission Costs Less than Anticipated

Irmgard Griss, head of the investigation commission appointed by the Finance Ministry with regard to Hypo Group Alpe Adria’s nationalization, announced wanting to leave the decision about the costs with the government.

April 22, 2014

Business in Ukraine Becomes More Riskful

Insurance companies warn export companies that wanting to arrange for insurance of defaults in payment obligations or political unrest right now is coming too late.

April 22, 2014

Poland: VAT Likely to be Reduced

As announced by Polish Finance Minister Mateusz Szczurek, the government plans on cutting the VAT rate to 22 percent in 2017.

April 22, 2014

Serbia: EU Negotiations Important for Reforms

According to Tanja Miscevic, chief negotiator in Serbia’s EU accession talks, the opening of the Chapters 23 and 24 are crucial for the reform process in the Western Balkan country.

April 22, 2014

Poland: Economic Upswing Endangered by Conflict in Ukraine

In general, Poland´s economic growth accelerates. However, the recent developments in Poland´s neighbor country are a substantial risk factor.

April 18, 2014

Eder: Austrian Industrial Location Not Attractive Anymore

Austria may lose one of its most important industrial flagships. Wolgang Eder, CEO of the Vienna-listed steel manufacturer voestalpine threatens to leave Austria.

April 18, 2014

Discrepancies on Austrian Real Estate Market

Because of the high rents the city of Vienna intends to do away with location premiums. Listed real estate company Conwert announced raising its rents by May 1.

April 18, 2014

Serbia: PM Nominated Next Week

The Serbian President will nominate the new Prime Minister on Tuesday, April 22.

April 18, 2014

Hypo Group: Time Pressure Grows Dramatically

Future bank aids for the nationalized Austrian lender are limited. Haircuts for creditors and bondholders are not unlikely.

April 17, 2014

Serbia: New Government Stands

Despite the absolute majority of his party SNS, Vucic could create a strategic alliance with the social democrats.

April 17, 2014

Republic of Austria Liable for Domestic Banks in Ukraine and Russia

The Austrian Clearing Bank (OeKB) has assumed liabilities in the amount of € 4.0n in Russia and Ukraine. Besides the political risks, banks operating in Russia have to fear economic risks too.

April 17, 2014

Hypo Group: Italian Branch Turns Out a Huge Problem

According to CEO Picker there were more “skeletons in the closet than expected” which led to huge losses for the ailing bank. The Italian network may have to be downsized.

April 17, 2014

Slovenia: “Worst Thing if Nobody Dare Do Anything”

Finance Minister Cufer stressed that financial institutes needed stable guidance and confidence to continue their restructuring paths.

April 17, 2014

Hypo Group: Privatization of Balkan Business Until 2015

The nationalized problem bank intends to sell its Balkan business within 2014.

April 17, 2014

Poland: Budget Deficit Soaring

Last year the budget deficit amounted to 4.3 percent of GDP.

April 17, 2014