Read the latest headlines about developments in international organizations, companies and institutions operating in Vienna, Austria
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Vienna International Company News

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October 25, 2010

Financing of OMV-Deal in Turkey Still Open

OMV leaves the financial markets still in the dark as to how it will cope with the acquisition.

October 25, 2010

HYPO Group: Further Liabilities Necessary?

The Carinthian HYPO Group would suffer massive losses should it sell its real estate in the Balkans. Due to the write-offs, new liabilities of the Republic might be required.

October 25, 2010

Deripaska Again at Strabag

After Deripaska’s decision, and successful talks with Strabag boss Haselsteiner, the Russian oligarch is a partner in the construction group again.

October 25, 2010

Large Power Plant in Turkey: Verbund concludes Joint Venture

With an investment volume of 550 million euro, the Verbund operates together with its Turkish partner Sabanci Holding, a gas-steam power plant.

October 25, 2010

New Budget: Details and Reactions

The entire tax package will bring additional revenues for around 1.2 billion euro. There are further saving measures for 1.6 billion euro. Reactions from the economic actors are ambivalent.

October 25, 2010

New Budget, New Taxes

The budget includes a new austerity package, which consists essentially of taxes on mineral oil, tobacco and banks.

October 25, 2010

OMV: Complete Takeover of Petrol Ofisi Fixed

The deal is finished. Turkey will be the third main market for the OMV group.

October 22, 2010

Bank Austria CEO Cernko: No More Bank Tax Soon

Due to Basel III, location reasons and to safeguard jobs, the bank tax will only be effective temporarily, according to Cernko

October 22, 2010

A-Tec Creditors: Minimum Rate Too Low

While an early agreement with the banks seems imminent, the legal minimum quota offered to the creditors of the insolvent A-Tec group is not enough. Staff’s resentment is also being felt.

October 22, 2010

Corporate Bond of Novomatic: Surprisingly High Demand

Issuing volume has been doubled. The placement process has been closed very early, Novomatic-boss Wohlfahrt is content with the succesful bond issue.

October 22, 2010

Telekom Austria: Good Results Expected for 2010

The CEO of Telekom Austria, Hannes Ametsreiter sees the current financial year as "stable and good".

October 22, 2010

KTM is Back Again

With a surprisingly positive quarterly result, the motorcycle manufacturer KTM shows its old strength. All expectations have been exceeded.

October 22, 2010

Major Project for Siemens Austria in Georgia

Siemens Austria is involved in a project to develop the electricity industry in Georgia. The infrastructure project will act as a bridge between Russia and Turkey.

October 22, 2010

OMV Deal: Many Questions Without Answer

Not only the extent of the takeover is unknown, but also how it will be financed.

October 22, 2010

A-Tec - Creditors are Demanding more Money

Against the minimum quota of 30 per cent offered by Mirko Kovats 30 resistance is forming. A-Tec announced that the negotiations of the daughter AE & E are well underway on renewal of the credit facility.

October 22, 2010

Raiffeisen CEO Stepic: The Crisis in Eastern Europe is Not Over Yet

The RBI boss explains why recovery is taking longer, why his institute does not want to pay back the state capital yet, and why he considers that Raiffeisen is being treated unfairly.

October 22, 2010

Vienna International Airport: Business With Low-Cost Carriers booms.

A significant portion of Vienna International Airport’s sales are achieved with low-cost airlines. The airport's boss wishes a more extensive partnership with the Bratislava location.

October 21, 2010

Vienna Insurance Group in Albania

Further growth achieved with the acquisition of Interalbanian.

October 21, 2010

AT&S Leaves the Crisis Behind

Thanks to growth in sales and massive investments, AT&S looks forward to a positive future.

October 21, 2010

Increase in Mineral Oil Tax likely

Economy Minister Mitterlehner speaks of a possible moderate increase.

October 21, 2010

Voestalpine: Good Prospects

Voestalpine has got back fast on the road to success. Cost reduction and growth outside Europe are the recipes.

October 21, 2010

Wienerberger: Slow Upwards Trend Again

The process is still slow, but the Group is able to participate immediately in the recovery with its existing capacity.

October 21, 2010

A-Tec Offers a 30% Quota

CEO Kovats is trying to rehabilitate his insolvent company with the help of creditors.

October 21, 2010

EnBW Remains Shareholder at EVN

EnBW decides not to continue the planned secondary offering of shares in EVN AG

October 20, 2010

OMV Plans Complete Takeover of Petrol Ofisi

OMV and Doğan Holding are in detailed negotiations regarding an acquisition of Dogan Holding’s stake in Petrol Ofisi by OMV

October 20, 2010

aws-mittelstandfonds: Participation in New Telecom Holding in Carinthia

The fund of the Austria Wirtschaftsservice-Agentur (Austrian Economic Service Agency), a company launched last year to finance medium-sized businesses, has now acquired its fourth participation.

October 20, 2010

Verbund Group: Capital Increase has Been Determined

The capital increase for the biggest domestic electricity generator will allow large investments in energy infrastructure and thereby accelerate new power generation projects.

October 20, 2010

The Next Acquisition: STRABAG Buys Gaul-Group

The German Gaul-group, a regional market leader for construction materials, has been bought by STRABAG for strategic reasons.

October 20, 2010

Bond Refinancing Collapsed: A-Tec Starts Insolvency Proceedings

After several problems with the refinancing of its corporate bond, A-Tec decides to start a restructuring.

October 20, 2010

Booming Tourism: Aeroflot Pressure on Austria's Airports

New routes of Aeroflot subsidiaries to Austria are created due to the growing flow of Russian guests.

October 20, 2010

IMF Considers Recovery as "Moderate and Uneasy"

Growth in Europe seems to be normalizing slowly. Dynamism is missing though, and many vulnerabilities are as yet unresolved.

October 20, 2010

bwin Notifies Merger with PartyGaming to Competition Authority

Transfer to the London Stock Exchange is bad news for the Viennese financial center. The merger will create the world's biggest betting provider.

October 20, 2010

Tourism in Vienna is Booming Like Never Before

All hotel categories are benefiting from strong growth in bookings. August and September were record months.

October 20, 2010

AUA: Licenses in Russia Expire

Austrian Airlines are worried about the landing and overflying rights in Russia. If there is no extension, there is a threat of higher costs.

October 20, 2010

Wienerberger Signs Agreement to Acquire Steinzeug Abwassersysteme

Planned acquisition of worldwide market leader and Europe’s largest producer of clay pipe systems

October 20, 2010

New Westbahn Claims Unjustified Subsidies for the ÖBB

The reason is an amendment to the Public Procurement Act, which allegedly gives preference to the ÖBB.

October 20, 2010

Kapsch TrafficCom AG Issues a Corporate Bond

With the issuance of the bond, investments necessary for continuation of growth are made possible.

October 19, 2010

A-Tec Wins Major Contract for Project in England

A project in Australia is currently bringing A-Tec financial problems. A new project, however, offers prospects of success.

October 19, 2010

Austrian Airlines Loses Swiss Destination

As the St. Gallen-Altenrhein airport in eastern Switzerland will operate its own airline, AUA will no longer fly to this airport

October 19, 2010

Serbian Telekom: Entry of Telekom Austria?

The Serbian government expects to reach a price of 1.4 billion euro for its 51% share of Telekom. Participation of Telekom Austria is expected.

October 19, 2010

Low-Cost Gas Stations on Unused ÖBB Property

The Austrian Federal Railways (ÖBB) have signed a framework contract with Markus Friesacher for up to 35 low-cost gas stations on dormant property.

October 19, 2010

Real Estate Market for Logistics Objects is Booming

In the vicinity of the Airport Vienna, a new logistics cluster arises.

October 19, 2010

Verbund´s Subsidiary Sorgenia Achieved Higher Profits

Net income climbed during the first three quarters to 57.6 million euros

October 19, 2010

Austrian Federal Railways in Debt Crisis

Several infrastructure projects will increase the debt burden of the Federal Railways dramatically. This could bring considerable effects for the financial situation of the whole Federation.

October 19, 2010

A-Tec CEO Kovats: Refunding After 2nd November Possible

“There will be a solution.” Discussions with investors continue.

October 18, 2010

MAGNA: Still No Battery Plant in Burgenland

All efforts towards the establishment of the plant seem in vain so far, although the prospects for success seemed quite good recently.

October 18, 2010

Tax Evaders Targeted by the Ministers of Finance

Budget problems plague the majority of EU countries. In addition to budget discipline, the prosecution of tax evaders is to be addressed.

October 18, 2010

Industry Representatives are Satisfied with New Skilled Workers Regulation

Industry sees the new based immigration model based on criteria as a viable compromise.

October 18, 2010

Slight Fall in Corporate Tax

On the other hand, indirect taxes experienced an increasing trend. Despite tax competition, tax increases are expected due to budget needs.

October 18, 2010
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