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Czech Republic in Austria | Czechs in Vienna | Bilateral Relations
Austria and the Czech Republic - Read the latest headlines about bilateral relations in the areas of economy, diplomacy and culture
Czech Republic: Rusnok to become CNB Board Member
Outgoing Prime Minister Jiri Rusnok will be appointed new board member of the Czech National Bank (CNB) by President Milos Zeman.
December 18, 2013
Labor Costs: No Clear Trend in CESEE
In the Baltic countries and in Romania, unit labor costs rose most. In Slovenia and in the Czech Republic, by contrast, unit labor costs were down.
December 18, 2013
CESEE: More Robust than in 2008
The U.S. Federal Reserve wants to reduce its easing policy gradually. For emerging markets, the end of the loose monetary policy may prove challenging.
December 17, 2013
Czech Republic: Lowest Increase in Public Debts in 17 Years
According to the government’s Funding and Debt Management Strategy, public debt should exceed CZK 2,000bn by the end of 2016.
December 17, 2013
Emerging Markets Face Decrease in Risk Appetite
Foreign investors become more and more cautious about investing in emerging markets. Regions like Central, Eastern and Southeastern Europe are highly dependent on foreign sentiments.
December 14, 2013
Austrian GDP per Capita Second-Highest in EU
In terms of GDP per capita, Austria is the second-richest EU country.
December 12, 2013
Hungary: Stable Outlook Yet Still Junk Status
In spite of Matolcsy, governor of the Hungarian National Bank (MNB), demanding a better rating for the country’s credibility, the major rating agencies have not raised them.
December 12, 2013
Czech Republic: Banking Sector Proves Stable
According to the latest results of the bank stress test by the Czech National Bank (CNB), the domestic financial institutes remain resistant to a potential negative development.
December 12, 2013
Austrian Banking Industry Depends on Russia and Czech Republic
For the Austrian banking sector, the CESEE region is highly heterogeneous. In the first six months of 2013, net earnings totaled € 1.4bn in the region.
December 12, 2013
Czech Republic: New Government Confirmed
Seven weeks after the national elections, the Czech Social Democrats (CSSD) have agreed to form a coalition with ANO and the Christian Democrats (KDU-CSL).
December 11, 2013
Ten Capital Market Themes for 2014 by Raiffeisenbank
Leading indicators show a recovery of global growth.
December 11, 2013
EU/CESEE: Real Income Shrinks
In 2013, the real income will do down in Austria. Since 2010, the Austrian real income was down by 1.3%. In Hungary, real income fell by 15% in that period.
December 9, 2013
Czech Republic: Industrial Output Slowed Down
In October, the industrial performance in the Czech Republic only grew by 3.5 percent on a year-on-year comparison basis.
December 9, 2013
Austrian Banking Sector: € 35bn NPL
Due to the gloomy economic situation in CESEE and the stagnating domestic economy, Austrian banks suffer from growing non-performing loans.
December 9, 2013
Economic Recovery in CESEE Supported by Exports
According to the GDP data for some Central and South Eastern European countries published today, economic recovery was backed by a strong increase in export activity.
December 5, 2013
Czech Republic Remains in Recession
The Czech economy continues to shrink. Above all, private consumption and investments are weak.
December 5, 2013
UniCredit Bank Ukraine and Ukrsotsbank to be Merged
CEE Division completes additional steps in business refocusing.
December 3, 2013
Sevelda: „We Are Close to the Breaking Point“
In a guest comment published by the Austrian business magazine Format, CEO of Raiffeisen Bank International Karl Sevelda refers to the high burden for Austrian banks.
November 29, 2013
CESEE: Slight Growth Acceleration, but Uncertainties Persist
The Vienna Institute for International Economic Studies (wiiw) has published the economic forecast for the CESEE region today. The economic performance varies substantially from country to country.
November 28, 2013
CESEE: Austrian Banks Face New Challenges
For Austrian banks, the assessment by the ECB may bring new difficulties. Non-performing loans in CESEE are said to be higher than officially known.
November 26, 2013
Czech Republic: CNB Aquires Foreign Currencies
During monetary interventions CNB has purchased foreign currencies in the amoung of CZK 200bn.
November 26, 2013
WKO: Better Framework Conditions for SMEs
Small and medium sized enterprises (SMEs), with between 10 to 249 persons employed, are a driver of the European economy, creating jobs and contributing to economic growth. WKO calls for better framework conditions for SMEs.
November 26, 2013
Wide Parts of CESEE Region Below Pre-Crisis Level
In terms of economic output, a large number of CESEE countries have not reached the level of 2008 yet. The growth outlook remains cautious.
November 25, 2013
Czech Demand for Housing Loans Still Grows
While demand for consumer loans was down, demand for housing loans is still on the rise. In total, loan growth decelerates.
November 23, 2013
Czech Budget Deficit Shrinks
Despite the unfavorable macro-economic develoment, the Czech Republic´s budget deficit was down slightly. This is mainly due the the better tax collection, the Czech Statistical Office (CSU) reports.
November 23, 2013
Czech Republic to Bottom Out?
The economic data for the third quarter indicate that the downward trend is stopped now, governor of the CNB said. Nevertheless, the GDP data are worse than expected.
November 23, 2013
Czech Republic: CNB Facing Investigations
Czech Senator Dryml ordered the head of counter-intelligence service (BIS) Jiri Lang to initiate investigations against the Czech National Bank (CNB).
November 22, 2013
Czech Republic: Sobotka Commissioned to Form Government
Czech President Milos Zeman engages the head of the social democrats (CSSD) Bohuslav Sobotka to form a new cabinet.
November 21, 2013
Czech National Bank Not Intending Further Forex Interventions
According to Miroslav Singer, governor of the Czech National Bank, the authority is not planning on taking further measures at the forex market to weaken the Czech Crown (CZK).
November 21, 2013
Czech Republic Among Most Open Economies in EU
In terms of foreign trade, the Czech Republic is one of the most open economies in the European Union, the Czech Statistical Office reports.
November 20, 2013
Austria: High Tax Country
According to the new tax report of PrinceWaterhouseCoopers (PwC), the tax burden in Austria is ten percent higher than the average tax rate in the European Union and even beats Sweden.
November 19, 2013
Nowotny: Must Avoid Bubble in CESEE
In order to avoid another asset bubble like in 2008, loan growth has to be monitored, governor of Austrian National Bank Ewald Nowotny says.
November 19, 2013
Czech Republic: Recession Not Managed Yet
The GDP decrease is expected to reach 1.6% this year. The downward trend decelerates, however.
November 15, 2013
Success for VIG Group Companies in the Czech Republic
Martin Diviš named “Insurance Manager of the Year”.
November 14, 2013
Czech Republic: CNB Concerned about Private Households
In regard to the most recent forex intervention, the Czech National Bank (CNB) has expressed concern about private households, which would be affected for a longer period since savings as well as income will drop.
November 13, 2013
CESEE: Economic Turnaround Ahead
Ruchir Sharma, fund manager at Morgan Stanley stresses that Central, Eastern and Southeastern Europe is more attractive than the BRICS countries.
November 12, 2013
Czech President Sceptical about CNB’s Forex Intervention
Czech President Zeman expressed his reservations about the Central Bank’s latest forex interventions.
November 12, 2013
CESEE: Growth Remains Below Potential
Today, the EBRD (European Bank for Reconstruction and Development) has published its economic outlook for the CESEE region. The reform pressure is growing, Anthony Willams at EBRD wrote.
November 11, 2013
UniCredit: Net Income Driven By CESEE
Italian UniCredit Group´s quarterly net income was down by 40%. Losses in Italy could be more than offset by the results in Poland and Bank Austria´s contributions.
November 11, 2013
Czech Republic: CNB to Intervene in Forex Market
After the Czech koruna (CZK) was devalued, the Czech National Bank (CNB) is keen on preventing a deflation. However, the key rate cannot be cut anymore as it is close to zero.
November 11, 2013
Czech Banking Sector Strongly Influenced by Foreign Banks
The EBRD has published the “Banking Environment Performance Survey”. Foreign parent banks exert a strong influence on their subsidiaries.
November 9, 2013
Czech National Bank Starts Currency Interventions
In order to stop the recession in the Czech Republic, CNB eases monetary policy further.
November 8, 2013
Unequal Retail Real Estate Investment Activity in CESEE
While investments in retail real estate in Bulgaria see an upturn, those in Romania have dropped immensely by more than 50 percent.
November 8, 2013
Czech Republic: Economic Outlook Improves
In its latest forecast, the Czech National Bank (CNB) has corrected the outlook on the Czech economy upward for the rest of 2013 while estimates for 2014 were slightly downgraded.
November 8, 2013
Komercni Banka Posts Lower Net income
Today, Czech Komercni Banka published the third quarter results. Lending was up by 2.9%, deposits grew by 4.8%. Net income was down by 7.75.
November 7, 2013
Banking Sector Reduces Lending
Instead of offering loans to the corporate sector, banks tend to invest in sovereign bonds. The CESEE region is particularly affected by this.
November 6, 2013
CESEE Region: Booming Exports Prevent Recession
The underlying reason for the improving economic sentiment in the CESEE region is the expanding industrial sector. However, the region remains vulnerable to foreign trade and foreign investments.
November 5, 2013
Czech Republic Crawls Out of the Recession
The recession in the Czech Republic comes to an end. Fixed investments are still the main weak point.
November 4, 2013
Czech Budget Deficit to Remain Below Approved Mark
The budget deficit in the Czech Republic increased to CZK 47.7bn in October from CZK 38.2bn in September.
November 4, 2013
Czech Growth Outlook Revised
The Czech Ministry of Finance has improved its economic forecasts.
November 1, 2013
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