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Vienna International Company News
Read the latest headlines about developments in international organizations, companies and institutions operating in Vienna, Austria
Bank Tax: Only 185 Million Remain for the Federation
In negotiations with the provinces, the federal government surprisingly yields to pressures: proceeds from the bank tax will be divided.
October 29, 2010
Vienna Stock Exchange: Today´s Winners and Losers
Daily News-Flash from the Vienna Stock Exchange.
October 28, 2010
Industry: Good Prospects for 2011
The general optimism in the industry leads to the expansion of production and more personnel recruiting.
October 28, 2010
Tax on Securities’ Profits: Financial Industry in a Rage
The tax is targeted at the middle class, but it means especially an administrative burden and creates competitive disadvantages, according to the industry.
October 28, 2010
EU Funds to Finance Brenner Tunnel until 2015
The European Commission has extended its partial financing commitment for the Brenner tunnel. However, appropriate measures must be taken soon. Deliberations are still underway at present.
October 28, 2010
STRABAG Builds the Koralm Tunnel
The controversial project will be built by the construction group Strabag. The total investment amounts to around 600 million euro.
October 28, 2010
AUA: Still Losses, But There Is an Upward Trend
Losses and costs fall, passenger numbers rise. Restructuring measures show results, but the target has not been reached yet, according to the board.
October 28, 2010
A-Tec Restructuring: Kovats Hands Over 25.1%
The banks inject new money into the insolvent company; Kovats has no longer the majority. If restructuring fails, the banks have realization authority.
October 28, 2010
Verbund: Warning Concerning Profit
Despite worsening results, the Verbund Group holds fast to the capital increase. Core shareholders go along.
October 28, 2010
Lending Policy of Banks is Stabilized
Results for Austria of the October 2010 credit business survey in the euro area
October 28, 2010
Hungarian Railway Workers Strike Against Rail Cargo
Due to employee layoffs at Rail Cargo Hungaria, the employees threaten to go on strike. Rail Cargo suffers losses both in Austria and in Hungary
October 27, 2010
AUA Flight Rights in Russia: EU Proceedings Against Austria
Due to the so far preferential treatment of Austrian Airlines in Russia, Austria is now accused by the European Commission of breach of contract.
October 27, 2010
OMV: Republic of Austria Will Hold On to Its Stake
An informal consultation is said to have been held between the governing parties to keep the government stake in OMV, should there be a capital increase.
October 27, 2010
Hypo Group: Dramatic Losses Expected for 2010
The bank has to downsize, and will therefore have to part with many assets, according to the chairman of the board. For 2012, prrofits are expected again.
October 27, 2010
A-Tec: Will 100 Million be Given Up by the Creditors?
The creditors' committee deliberates today on how the company will continue existing. Mirko Kovats, founder and CEO of the company, wants to make a "substantial contribution" to the issue.
October 27, 2010
AUA: Outrage at Ticket Tax
Austrian Airlines are fearing a massive drop in sales and even see the tax as a threat to their existence.
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
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