Austria and the Czech Republic - Read the latest headlines about bilateral relations in the areas of economy, diplomacy and culture
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Czech Republic in Austria | Czechs in Vienna | Bilateral Relations

Czech Construction Industry Shrinks Substantially

Construction output down by 6.5% in 2012. In December 2012 the construction output declined by 17.3%, year-on-year (y-o-y).

February 6, 2013

CESEE: Economic Outook Brightens Slightly

According to a survey carried out by OeKB (Austrian Clearing Bank), investors in the CESEE region are more optimistic.

February 6, 2013

Czech Industrial production Dropped by 1.2% in 2012

In December 2012, industrial production decreased at constant prices by 12.5%, year-on-year; working days adjusted industrial production decreased by 5.8%.

February 6, 2013

Czech Republic: Exports and Imports Grew Significantly in 2012

In December 2012, according to preliminary data of ‘border statistics’, exports and imports at current prices fell by 7.1% and 7.0%, year-on-year (y-o-y), respectively.

February 6, 2013

Necas Supports Turkish EU Membership

On the occasion of Prime Minister Erdogan´s visit in Prague, his Czech counterpart Necas assured to support Turkey´s candidacy.

February 6, 2013

Czech Republic: Retail Trade Shrinks

For the entire year 2012, sales in retail trade including the automotive segment decreased at constant prices by 1.1%, y-o-y.

February 5, 2013

Czechs are Worried About their Future

Above all, Czechs fear a declining living standard after their retirement. The real income is expected to shrink in the next years.

February 2, 2013

Czech Republic Returns to Growth Slowly

According to the Czech Ministry of Finance, the recovery will be only gradual. This year, GDP is expected to increase by 0.1%.

February 2, 2013

Czech Unemployment Grows

The total employment in Q4 2012 increased by 31.1 thousand persons compared to the same period of 2011.

February 1, 2013

Czech Republic: Disputes Over Fiscal Pact

In the Czech Republic, the ruling coalition parties do not have a common point of view.

January 31, 2013

“Operations of Austrian Banks in CESEE Region Are a Success Story“

Regarding the Austrian banking sector, governor of OeNB (Austrian Central Bank) Ewald Nowotny demonstrates cautious optimism.

January 30, 2013

Czech Government Rejects New Elections

After Milos Zeman was elected as new President of the Czech Republic, he called for new elections. A change of government would be rather likely.

January 28, 2013

54.9%: Zeman Wins

Milos Zeman will become the next President of the Czech Republic. His rival Karel Schwarzenberg has already recognized his defeat.

January 26, 2013

“Germany overestimated, USA and China underestimated”

Trade with USA and Italy just as crucial for Austrian economy as trade with Germany, Bank Austria reports. "Made in Austria" products count for above-average proportion of Austrian exports.

January 26, 2013

Czech Republic: Zeman Ahead

Today, the run-off election in the Czech Republic has ended. According to first results, the socialist Zeman ranks first.

January 26, 2013

Business Cycle Survey: Czech Overall Confidence Decreases

Overall confidence in domestic economy decreased slightly in January. The composite confidence indicator (economic sentiment indicator) decreased by 0.3 points compared to December.

January 24, 2013

IMF: Growth in CESEE Region to Accelerate

In the next three years, economic growth rates in central, eastern and southeastern Europe will return to the pre-crisis level, IMF says.

January 23, 2013

Erste Group´s CEO Wants to Create CESEE Stock Exchange

Andreas Treichl, CEO of the Austrian banking group, would like to create an alliance between CEE Stock Exchange Group (CEESEG) and Warsaw Stock Exchange (WSE).

January 23, 2013

Czech Republic: Controversy About Benes Decrees

The second round of the Czech presidential elections is heating up. The candidate Karel Schwarzenberg was criticized harshly.

January 23, 2013

Europe of Tomorrow: The New Way of Thinking

Distinguished participants from industry, politics and the business community such as Václav Klaus, Jerzy Buzek, Franz Fischler, Martin Meyer, Jan Zielonka, Iain Begg, Prince Hans-Adam II of Liechtenstein are currently dicussing this issue in Vienna.

January 22, 2013

CESEE Property Market Highly Heterogeneous

In Austria, the yield is expected to shrink further. However, the investments will be stable, CBRE Austria says. In the CESEE region, the situation is ambiguous.

January 21, 2013

Most Czechs Are Pessimistic

A clear majority of the Czech citizens expects that their individual financial situation will deteriorate this year.

January 21, 2013

Czech Republic: Both Presidential Candidates Want to Join Eurozone

Unlike the outgoing President of the Czech Republic Vaclav Klaus, Milos Zeman and Karel Schwarzenberg are in favor of the euro.

January 19, 2013

Russian Rosatom May Build Nuclear Power Plant in Bohunice

Because of the completion of the Czech nuclear power plants, the Czech energy company CEZ is expected to withdraw from the construction project.

January 19, 2013

Klaus Recommends to Vote not for Schwarzenberg

Czech President Vaclav Klaus will stay in office until March. Klaus does not want Karel Schwarzenberg to become his successor.

January 19, 2013 · Updated: January 19, 2013; 15:47

Czech Republic Decides to Enlarge Temelin Power Plant

Today, the Czech Ministry of Environment has approved the enlargement of the nuclear power plant in southern Bohemia.

January 18, 2013

Czech Republic: Czech Government Withstand Another Vote of Confidence

The stability of the Czech government is still doubtful. For the time being, the coalition can deal with the pressure from the opposition.

January 18, 2013

Citizens in CESEE Countries Tend to Pessimism

According to a survey carried out by the opinion research institute marketagent.com, pessimism in the countries of central, east and southeast Europe persists.

January 16, 2013

“Strict rules and monitoring mechanisms for a healthy Europe”

Austria´s State Secretary Reinhold Lopatka discusses EU financial matters with Czech State Secretary Vojtech Belling.

January 16, 2013

Schwarzenberg Will Not Resign as Foreign Minister

The Czech presidential candidate and foreign minister Karel Schwarzenberg announced to remain in office until the second round of the elections.

January 16, 2013

CESEE: Chakrabarti Expects Stabilization

In an interview with the Austrian news magazine „Standard“, EBRD´s President Suma Chakrabarti demonstrates cautious optimism. 2013 will be a better year for the CESEE region, he says.

January 14, 2013

Fitch: Austrian Banking Industry Depends on CESEE

According to the U.S. rating agency, the situation of Austrian banks strongly depends on the development in central, east and southeast Europe.

January 14, 2013

Surprise in Czech Republic: Schwarzenberg Just Slightly Behind Zeman

The first presidential election round in the Czech Republic brought a surprise. Zeman ranks first with 24%. Schwarzenberg came in second place with 23%.

January 14, 2013 · Updated: January 14, 2013; 11:22

Czech Republic: Retail Trade Sector Declines

In November, sales in retail trade including the automotive segment after seasonal adjustment decreased by 0.6% at constant prices, month-on-month, and working days adjusted by 3.5%, y-o-y.

January 11, 2013

Klaus Meets Merkel

Czech President Vaclav Klaus wants to persuade Merkel to stop the integration process in the EU.

January 10, 2013

First Signs of Economic Recovery

Liquidity is driving the markets, global monetary policy remains heavily expansive. Muted growth outlook for CEE.

January 10, 2013

Czech Republic: Government Crisis Solved

The Czech government remains for the time being. Before, the smallest governing party seemed to leave the coalition.

January 9, 2013

Central Europe's Relations With the U.S.

Philip H. Gordon from the Bureau of European and Eurasian Affairs at the U.S.-Central Europe Strategy Forum, Center for European Policy Analysis (CEPA) in Washington, DC remarks on the issue of U.S. relations with Central- and Eastern Europe as follows.

January 9, 2013

Czech Inflation Above EU Average

Consumer prices in December increased by 0.1% compared with November. The year-on-year rise in consumer prices decelerated to 2.4% in December (2.7% in November).

January 9, 2013

Poverty: Romanian and Bulgarian Citizens Most Endangered

Regarding the poverty rate, Bulgaria, Romania, Spain, Greece and Lithuania are significantly above the EU average.

January 9, 2013

Generali to Expand into CESEE Region

The Italian insurance group wants to strengthen its market presence in central, east and southeast Europe. The minority stake in the Czech insurer PPF will be acquired.

January 8, 2013

Immofinanz Sells Offices in Prague

As of 31 December 2012 Immofinanz Group sold the office building BB Centrum Building C located in Prague to the VIG FUND.

January 7, 2013

“2013 will be a better growth year for CEE than 2012”

Unlike 2012 the new year starts with much less financial stress and easier monetary policy. Central and Eastern Europe has still considerable potential to outperform EMU, differentiating on domestic policies, Bank Austria says.

January 7, 2013

Czech Construction Output on the Fall

In November 2012 the construction output fell by 2.7%, year-on-year (y-o-y), in real terms.

January 7, 2013

CESEE: Economy Slows Down Further

CEE macro downturn to hit trough in Q1 2013; forecast GDP growth 2013: Poland 2.2%, Slovakia 1.3%, Romania 1.1%, Erste Group says.

January 7, 2013

CESEE Equity Market: Upside Trend after Slow Start

Country allocation: An overweight on Russia is a strong bet for the coming quarter and mostly based on liquidity searching for an option after Turkey performing so strongly, Erste Group says.

January 7, 2013

Czech Industrial Sector Shrinks

In November 2012, industrial production decreased at constant prices by 3.9%, year-on-year; working days adjusted industrial production decreased by 6.2%.

January 7, 2013

Czech Republic: Exports Grew, Imports Fell

In November 2012, according to preliminary data of ‘border statistics’, current price exports rose by 4.2%, while imports fell by 2.4%, year-on-year (y−o−y), respectively.

January 7, 2013

CESEE: Construction Industry Shrinks Further

The European research institute Euroconstruct expects a negative development for the construction industry in the CESEE region.

January 5, 2013

Significant Upward Trend in Austrian Tourism Sector

Positive start in winter season 2012/13: 4.15 million overnights in November. The number of guests from Italy and Russia is growing remarkably.

January 4, 2013