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Vienna International Business News | Economic | Investment | Financial

Insolvencies: Declining Trend for Both Companies and Individuals

KSV expects 10% less insolvencies for 2010, but warns about the consequences of fiscal budget adjustment.

September 28, 2010

CEE Real Estate: Outlook is brightening

CEE real estate stocks are currently in a phase of brisk corporate action. Financially sound companies with attractive assets are interesting takeover targets, while other companies are being taken over.

September 27, 2010

Elections in Styrya: SPÖ manages to claim first place, just.

The SPÖ was able to claim the first place after a thrilling count against the ÖVP. The FPÖ was able to double results as compared to 2005, and gets into the Landtag again.

September 27, 2010

Austrian tourism - summer season 2010 plus 1.1%

The most important summer month stabilizes the positive development of the current season (+1.1%)

September 24, 2010

Elsner Provides Help in Finding Missing Bawag Funds

Former BAWAG CEO wants to clarify the fate of 1.7 billion euro of failed investments allegedly made by the speculator Wolfgang Flöttl to the detriment of BAWAG.

September 24, 2010

Economy - Registrations of motor vehicles up in August

Registrations of used motor vehicles in August 2010: +9.9%; passenger cars +11.4%, lorries +6.6%. A total of 85 041 registrations of used motor vehicles were observed in August 2010, which is 9.9% more than in August 2009.

September 23, 2010

Mitterlehner Meets Hendry: Development of Renewable Energies

The Finance Minister met with the British Energy Minister Charles Hendry for talks about the energy policy in the EU, the development of renewable energy sources and increasing the security of energy supply.

September 21, 2010

Siemens Austria: Corruption Prosecution Expands Investigation

According to a media report, the prosecution has questioned two ex-managers of the group on suspicion of infidelity. They allegedly bribed business partners in South Eastern Europe.

September 21, 2010

Austria's Management and Supervisory Boards’ Salaries on the Test Bench

The partly state-run OMV had the most expensive board of all Austrian corporations in 2009. In total, the oil company spent 10.2 million euro on its bosses, 23.4% more than the previous year.

September 20, 2010

Industrial Producer Prices are Raising

Increasing upward trend of industrial producer prices in July 2010: +4.2% over July 2009; +0.4% compared to June 2010

September 17, 2010

ÖIAG: ÖVP vs. SPÖ

Schieder and Rudas demand dissolution of the state holding ÖIAG, Finance Minister Pröll, on the other hand, wants to “strengthen” it.

September 17, 2010

Export Indicator: The Economy is Expanding

According to the current results of the OeNB export indicator calculated on the basis of trucking mileage performance data of September 2010, the Austrian export economy has also expanded in the two summer months.

September 17, 2010

Labor market: Reduction of Full-Time Jobs Hits Women Hardest

As Statistik Austria reports, in the second quarter about 11,600 people less than last year sought work in Austria

September 17, 2010

CESEE Bank Conference: Joint Supervisory Academy in Vienna

Finance Minister Josef Pröll wants to create common standards for the CEE region with an Eastern Bank Supervisory Academy in Vienna.

September 17, 2010

OeNB: First-time Increase of Banks’ Total Assets Since End of 2008

By the end of June 2010 the unconsolidated total assets of the reporting banks in Austria amounted to 1037.98 billion euro.

September 16, 2010

Unemployment rate down 4.4%

Stable labour market in the second quarter 2010; more men and less women were employed than in the second quarter 2009.

September 16, 2010

Austrian Post Refurbishes its Board

ÖIAG boss Peter Michaelis gives green light for the refurbishment of the Post’s board. Meanwhile, rumors are growing that the changes will not only affect the parcels sector.

September 16, 2010

ÖIAG Boss Michaelis Under Pressure

ÖIAG Boss Peter Michaelis considers that the "campaign" against him evidences that "the actual work of ÖIAG provides no target for criticism." He considers his 700,000-euro salary as justified.

September 15, 2010

Consumer Price Inflation down at 1.7 % in August 2010; HICP 1.6 %

August inflation down to the lowest rate since February

September 15, 2010

Construction cost index up 3.4% y/y

Today, Statistik Austria announced that construction prices rose 3.4 percent compared to August 2009.

September 15, 2010

FMA and OeNB Welcome the Basel III Agreement

The package draws the right lessons from the financial crisis and provides for reasonable transition periods.

September 14, 2010

CEE Companies in a Turmoil

According to a study by Deloitte, last year Eastern Europe’s top 500 companies showed a clear decline in sales.

September 14, 2010

Wifo: Economy grew by 2.4 % in the second quarter

According to the Wirtschaftsforschungsinstitut (Economic Research Institute) the growth in the second quarter was due mainly to exports and investment. For the rest of the year, however, the Institute expects a slowdown in economic activity.

September 10, 2010

Slovakia increases VAT temporarily

As soon as the budget is back on its feet, the tax will be 19 percent again, according to Prime Minister Iveta Radicova. A deficit of up to eight percent is forecast for 2010.

September 9, 2010

Gambling - Awarding of Austrian concessions not in line with EU laws

After Germany, the domestic monopoly must also be abolished. According to the EU Court of Justice, the awarding of the concession to Casinos Austria is against EU laws due to the lack of a call for tenders.

September 9, 2010

Horváth & Partners Study - CEE remains attractive

A new study of the Horváth & Partners Management Consultants studied the success factors for setting up the subsidiaries of production sites in CEE.

September 8, 2010

First half-year 2010: trade volume of more than 50 bn euro in both trade flows

Austrian imports increased by 12.3% and Austrian exports rose by 12.5% compared to the same period in 2009.

September 7, 2010

Wholesale price index in August up 5.6%

Wholesale price index in August 2010: +5.6% against August 2009

September 7, 2010

Turnover in Services Sector increased by 1.9% in the first half of 2010

Based on results for the first half of 2010, turnover of Austrian services enterprises at nominal values rose by 1.9% compared to the first half year 2009.

September 6, 2010

The Austrian electricity price index ÖSPI is to decline in October

The electricity price index for October 2010, calculated by the Austrian Energy Agency (Österreichische Energieagentur), indicates that in October prices of electric energy will fall.

September 6, 2010

Vienna's unemployment rate drops by 1.8 percent

By the end of August the number of registered jobless in Austria's capital Vienna dropped by 1.8 percent y/y to 71,098.

September 1, 2010

Registration numbers of new passenger cars are up

Provisional number of new passenger car registrations in August 2010: +10.4%.

September 1, 2010

OeNB: less corporate loans, but more private loans in June

Austrian Central Bank OeNB reported that in June the volume of new loans extended to private households reached the highest level this year, while the value of new corporate loans dropped.

September 1, 2010

Unemployment rate - Ten percent in euro area

Austria continues to exhibit lowest unemployment rates.

August 31, 2010

Kommunalkredit back in black

Kommunalkredit AG earned €7.5m ($9.5) net, in the first half of 2010. It is the first period since the split in November 2009; a comparison with the previous year is therefore limited.

August 30, 2010

EVN: long winter driving profits

The energy supplier earned €204.9m ($261.6) in the first nine months of the current fiscal year, 16.7 percent more than a year ago. The long winter in Austria helped.

August 30, 2010

Austrian Banks in Central, Eastern and Southeastern Europe

According to a recent comparative study from the Austrian Central Bank (OeNB), the long-term commitment of Austrian banks in Central, Eastern and Southeastern Europe (CESEE) offers good prospects.

August 27, 2010

Verbund - Fight over capital increase further delayed

The controversy over Verbund capital is likely to prolong. Infrastructure Minister Doris Bures will continue to insist on her initial position.

August 26, 2010

Austria - Production index +5.7%

The seasonally adjusted production index for the Production Area (NACE 2008 B - F) (base year) recorded a 0.6% decrease in June compared to May 2010, according to calculations by Statistics Austria.

August 24, 2010

Causa ÖBB - Verbund as top priority

Verbund AG wants to increase its equity, the federal government as majority shareholder will support the plan, which will be discussed, in tomorrows Council of Ministers.

August 23, 2010

Bankruptcy wave in Eastern Europe

In 2009 Eastern Europe registered 44 380 company failures, which accounts for over 44 percent more bankruptcy cases than in 2008. In Western Europe, the increase was 18.6 percent, Austria performed well with 9.3 percent.

August 20, 2010

AWD back in black

The financial services group AWD Holding AG returned to profitability and achieved a profit before interest and taxes (EBIT) of €20.4m. In the same period last year AWD had at deficit of €10.3m, the EBIT margin is at 7.8 percent.

August 18, 2010

Schoeller-Bleckmann Oilfield Equipment AG publishes half-year results

SBO, listed on the ATX market of the Vienna Stock Exchange, was able to take advantage of the increasingly rebounding market environment in the oilfield service industry in the first half of 2010.

August 18, 2010

AWS - Increasing demand for small loans

According to the Austria Economic Service (AWS) a significant increase in demand for small loans was registered in the first half of 2010.

August 17, 2010

Construction costs in July 2010: + 3.5% year-over-year, slight decrease compared to June 2010

Austria's Economy - The construction cost index for construction of residential buildings reached 119.6 index points in July 2010.

August 16, 2010

C-QUADRAT Investment AG - Interim Financial Report as of 30 June

C-QUADRAT Investment AG concluded the first half year of 2010 with an operating income of €29.6m, an operating profit of €5.4m and a net profit of €8.5m.

August 16, 2010

Inflation in Austria fell slightly

Inflation in Austria fell from 2.0 to 1.9 percent in July on an annual basis. The main drivers were price increases for housing and fuels, which are responsible for half of the increase in CPI.

August 16, 2010

OIAG to become an infrastructure holding

The OIAG aims to become an infrastructure holding company. The federal real estate company (BIG), Verbund (energy), Asfinag (infrastructure) and parts of the ÖBB (railway) will be slowly integrated in an ÖIAG structure.

July 23, 2010

Austria attracts World Bank

Austria has concluded agreements for an official residence of the World Bank Group. It provides privileges similar to those of diplomats for employees of the international organization.

July 22, 2010

Banks-Stress Test - Friday evening moment of truth

At 6pm the Association of European Banking Regulators publish the result of the test of 91 European financial institutions. In Austria, Erste Bank, RZB and Bank Austria will be tested.

July 21, 2010