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Vienna International Company News
Read the latest headlines about developments in international organizations, companies and institutions operating in Vienna, Austria
Raids at Hypo Group in Italy
Because of suspicions of tax fraud Hypo Group’s affiliate in Udine was searched by the Italian police.
June 25, 2013
Zumtobel to Close Plant in Austria
Tridonic, which is part of listed light manufacturer Zumtobel Group, will close its plant in Fürstenfeld in the province of Styria. 100 employees will lose their jobs.
June 25, 2013
Fekter: "1.76 Billion Repayment by Erste Bank is Good News for Taxpayers"
Thanks given to Erste Bank for repayment of EUR 1.76 billion in participation capital
June 25, 2013
Austria: Government Agrees on Stimulus Package
Startled by construction company Alpine’s insolvency, the Austrian government has agreed on the fiercly discussed stimulus package. An amount of € 800m is required additionally.
June 25, 2013
OMV Starts Seismic Acquisition in Bulgaria
OMV and partners start seismic acquisition activities offshore Bulgaria.
June 25, 2013
Alpine: Biggest Bankruptcy in Austrian History
Bankrupt-gone construction company Alpine operates at 1,400 construction sites and is supposed to complete orders in the amount of € 800m. The shutting down of the enterprise has been decided.
June 25, 2013
US: Active Investor in Romania
US companies remained active investors in Romania last year. Particulary the IT sector, automotive industry and oil/gas sector are increasingly strengthening their local position. Foreign direct investments from the US came at more than $ 1bn.
June 24, 2013
Rosneft to Supply China Over 25 Years
Russia’s Rosneft agreed to double oil supplies to China, in a deal worth $ 270bn.
June 24, 2013
Erste Group to Pay Back € 1.8bn in State Aid
The Austrian banking institute plans on not only paying back its debts at the state but also to significantly increase equity capital.
June 24, 2013
Slovenia Expects Economic Recovery As Soon As 2014
On Saturday, the Slovenian Finance Ministry expressed its confidence that the newly adopted action plan would help stabilize public finances and help gain economic recovery despite of Fitch’s downgrade.
June 24, 2013
Russia: Putin Changes Personnel at Ministry of Economics
In the light of the menancing recession, Russian president Vladimir Putin has reorganized the leaders of economic policy-makers.
June 24, 2013
OMV Signs Deal with ADNOC
OMV signs upstream exploration agreement with the Abu Dhabi National Oil Company.
June 24, 2013
Kapsch Technology Ensures Safety on the Mecca-Medina Railway Line with it GSM-R Solution
The Prestigious High-speed rail on the pilgrimage route between the two holy cities of the Kingdom of Saudi Arabia is being equipped with the GSM-R solution of Kapsch.
June 24, 2013
Alpine to Be Shut Down
Bankrupt-gone construction company Alpine is facing a breaking down. After negotiations about establishing a rescue company failed, the enterprise will apply for a shutdown.
June 24, 2013
Russia to Improve Relations to China
Russia turns its back on Europe and starts focusing on Asia instead in regard to oil export.
June 21, 2013
Last Try to Save Polish Airline LOT
Poland’s National Treasury starts a final attempt at saving Polish Airlines LOT.
June 21, 2013
EVN Arbitration Proceedings Against Bulgaria to Start
EVN AG commences investment treaty arbitration against the Republic of Bulgaria.
June 21, 2013
Alpine-Insolvency: 80 Companies Affected
After an analysis by credit protection association Kreditschutzverband 1870 (KSV1870), the majority of around 1,400 suppliers and subcontractors is not affected by the construction company’s bankruptcy.
June 21, 2013
Austria: Investigations on Loan to Alpine
Apparently ailing bank Hypo Group plays a role in the bankruptcy of Austrian construction company Alpine. The bank is supposed to have granted a bridge loan.
June 21, 2013
Changes to the Management Board of Erste Group
CFO Wimmer to retire, Mittendorfer to take over.
June 21, 2013
Austria: Reduction in Working Hours at ÖBB
So far, the trade association of railways at the Austrian Chamber of Commerce (WKO) has rejected the reduction of working hours at the Austrian Railways (ÖBB).
June 20, 2013
AUA „Makes Good Progress“
Chairman of Lufthansa Christoph Franz is confident that the Austrian affiliate Austrian Airways (AUA) will be able to make the turnaround in time.
June 20, 2013
Eder Appeals for Reindustrialization in Europe
In an interview with Austrian daily „Kurier“, Wolfgang Eder, CEO of Austrian steel producer voestalpine talks about the future of the European steel industry and the differences to the US energy policy.
June 20, 2013
Hypo: Deal with Russian Oligarch with “Proper Mortgage”
The investigations into money laundering at the Federal Criminal Office concerning the business with Russian oligarch Vladimir Antonov were brought to an end without any results. There were no arms among the securities.
June 20, 2013
Alpine: Thousands of Jobs At Risk
Alpine’s Insolvency could cost thousands of people’s jobs. According to Social Minister Rudolf Hundstorfer, the Social Ministry would utilize all means to prevent a worst-case scenario. Alpine's affiliate in Germany is filing for bankruptcy as well.
June 20, 2013
Kapsch Wins Contract for Traffic Management System in Chile
Variable Message Signs system increases traffic safety on access road to El Teniente copper mine.
June 20, 2013
Austria: Raids by EU Commission at ÖBB
The Austrian Railways is alleged of having agreed to fixed prices with other companies. House searches were carried out.
June 19, 2013
Polish Road Authority As Tardy Payer
Prime Minister Tusk seems unimpressed about ambassadors from six countries filing a complaint.
June 19, 2013
Hypo Group: Business With Russian Oligarch
Austrian magazine „News“ unveils a remarkable business connection of Hypo Group from 2008.
June 19, 2013
Cyprus Demands Further Capital Aid
In a letter to the European Union, President of Cyprus Nikos Anastasiades demands further capital support for the Bank of Cyprus, the “Wallstreet Journal” reports. According to him, Cyprus’ economy depended on it.
June 19, 2013
Austria: Deputy Govenor of OeNB Suspended
Deputy Govenor of Austrian National Bank Duchatczek is suspected of bribery.
June 19, 2013
Alpine Facing Bankruptcy
The restructuring of Austria’s second biggest construction company Alpine has failed. The enterprise therefore has to face bankruptcy.
June 19, 2013
Hungary: Taxes to Be Raised
Shortly before the parliamentary summer recess taxes were raised by the government of Viktor Orban.
June 18, 2013
Lopatka: "EU Enlargement is a Driver for Reforms and Rule Of Law"
State Secretary Lopatka on DARUM EUROPA information tour.
June 18, 2013
Poland: Deputy Transport Minister Dismissed
Former Deputy Transport Minister alleged of corruption. Austrian construction company Alpine involved.
June 18, 2013
Croatia: Agrokor Becomes Biggest Retailer in SEE
After the take-over of Slovenian chain of retail stores Mercator, Croatian corporation Agrokor employs 60,000 persons in the region of former Yugoslavia.
June 18, 2013
Siemens VAI Lands Major Contract in China
Tangshan orders cold rolling complex from Siemens.
June 18, 2013
Alpine: Bondholders to Lose Assets
On Monday evening the decision was made for the financial reorganization of the Austrian construction company.
June 18, 2013
Bankruptcy Case Mayr-Melnhof in Switzerland
In Domat/Ems, Switzerland’s biggest sawmill was supposed to be operated. The only thing left now, however, is a financial hole running in the millions. Erste Group is concerned by losses as well.
June 17, 2013
Slovakia and Unicredit in a Dispute
In Slovakia a dispute between Unicredit and the state has incensed. This could negatively affect the planned merger with a Czech affiliate in 2014.
June 17, 2013
Strabag: Haselsteiner to Leave as CEO
Russia will not surpass Germany as the most important market, the outgoing CEO explains. He expresses his disappointment in the market.
June 14, 2013
Austria: Highwater Damages Higher Than in 2002
A surface of 22,000 hectars was flooded in Austria. The Chamber of Agriculture estimates damages to be highter than during the last major flood in 2002.
June 14, 2013
Slovenia: Mercator to be Finally Sold
It is the ninth sale attempt for Slovenian trade chain Mercator today, but it could be finally sealed. Croatian corporation Agrokor is the interested party. A dozen owners will decide about the retail chain’s fate.
June 14, 2013
Changes at EVN: Reduction of the Board
The Supervisory Board of EVN AG has decided in its meeting on June 12th, not to fill the vacant position due to the retirement of the Member of the Board Herbert Pöttschacher.
June 13, 2013
Alpine Can Take A Breather
Alpine’s liabilities amount to € 450m. Spanish parent company FCC is supposed to provide a capital injection of € 150m.
June 13, 2013
Dispute About Tender for Orient Express
The Orient Express once led through Romania. These days, this section is cause for legal disputes in connection with the tender in the amount of € 330m.
June 13, 2013
Bulgaria: Sofia One Of Best European Destination for Manufacturing
The Bulgarian capital Sofia was labeled as one of the best destinations for opening a manufacturing plant in Europe.
June 13, 2013
Poland: PKO BP to Acquire Polish Assets of Nordea
Bank PKO BP strikes deal to buy Nordea's Polish assets.
June 13, 2013
Verbund to Write Off Gas Power Plants
During an analyst’s conference in London and after the closing of the stock exchange, energy company Verbund announced dampened earning prospects.
June 13, 2013
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