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Eastern European Countries and Austria | Bilateral Relations
Austria and Eastern European countries - Latest headlines about bilateral relations in the areas of economy, business, diplomacy, culture and tourism
EBRD: CESEE Countries Must Improve Legal Security
The European Bank for Reconstruction and Development underlines that banks need more stable legal systems in Eastern Europe.
November 24, 2012
OMV Focuses on Black Sea and North Sea
By 2020, the Austrian oil and gas group will ship natural gas from the Black Sea to Austria. Investments in the North Sea region are being fostered.
November 24, 2012
Poland´s Population Expected to Shrink
In the next 40 years, the Polish population might decrease by 6 million.
November 24, 2012
Hungary: Small Concession for Banking Industry
The banking sector in Hungary is under pressure. The government in Budapest decided to pay back debts of municipalities by the end of the year.
November 24, 2012
S&P Downgrades Hungary
The U.S. rating agency lowers Hungary´s sovereign debt rating from “BB+” to “BB”.
November 23, 2012
VIG: Satisfying Results Ahead
Next Tuesday, Vienna Insurance Group will publish its results for the first nine months of 2012.
November 23, 2012
Croatia Plans to Introduce Property Taxes
Croatia´s Finance Minister Slavko Linic plans to introduce a property tax next year. The rate will come at 1.5%.
November 23, 2012
Slovenian NKBM in Difficulties
The second-biggest Slovenian Nova Kreditna Banka Maribor (NKBM) bank suffers from its risky assets. The NPL quota is still on the rise.
November 22, 2012
RBI Threatens to Leave Hungary
The Austrian Raiffeisen Bank International criticizes the burden for the banking sector in Hungary.
November 22, 2012
Czech Republic: Budget Approved
Next year, the Czech state budget is planned to reach 2.9% of GDP.
November 22, 2012
Hungary: Real Wages Decline Remarkably
In 2012, real wages went down by 5.3%. This is mainly due to the persistently high inflation rate (6.6%).
November 22, 2012
Poland: Economy Expected to Recover in 2013
Poland´s Minister of Finance Jacek Rostowski is optimistic that economic growth will accelerate next year.
November 21, 2012
Zavarovalnica Maribor Sale: Slovenia Under Pressure
The Slovenian bank NKBM has to sell its stake in the second-biggest Slovenian insurance company Zavarovalnica Maribor (ZM). The sale proves difficult.
November 21, 2012
Real Estate Market: Austria Is Underdeveloped
Regarding the rate of owner-occupied flats, Austria is below the EU average. Poland ranks first.
November 21, 2012
CNB: „Czech Republic Does Not Need Quantative Easing“
The Czech National Bank underlines that the country´s economy is fundamentally stable. The current situation would be managable.
November 20, 2012
Hungary: Public Debt Level Declines
Due to the favorable currency development, the public debt level fell slightly.
November 20, 2012
Slovenia to Sharpen Austerity Measures
The Slovenian Prime Minister Janez Jansa announced that the austerity policy will be implemented even more consequently.
November 20, 2012
Ukrainian National Bank Stresses Stability of National Currency
The National Bank of Ukraine was able to ensure hryvnia stability – by results of the expert meeting. Inflation could be kept at 0.00% in the first nine months of 2012.
November 20, 2012
Serbian Government to Raise Corporate Tax
The austerity pressure forces the Serbian government to increase taxes. Serbia´s corporate tax will move from 10% to 15%.
November 20, 2012
Hungarian Construction Industry Performs Well
In September 2012, construction increased by 6.8% in output year-on-year. The construction of buildings rose by 4.2% and that of civil engineering works grew by 9.4%.
November 20, 2012
Hungary: Gross Earnings Grow Moderately
In the national economy – at corporations employing at least 5 persons, budgetary and designated non-profit institutions – average gross earnings increased by 4.5%.
November 20, 2012
Poland: Pawlak Steps Down
The Polish Minister of Economics Waldemar Pawlak resigns. His re-election as leader of the Agrarian Party has failed.
November 19, 2012
Slovakia: Economy Slows Down
In the third quarter of 2012, Slovakia´s GDP grew by 0.6%. Compared to the previous quarter, the growth rate remained unchanged.
November 19, 2012
Ukrainian Banking Sector Expands Slightly
Despite the economic slowdown in the Ukraine, lending is on the rise.
November 19, 2012
Gloomy Prospects for Ukraine
Economic slowdown is gaining momentum: GDP slumped by 1.3% yoy in the 3rd quarter, while industrial output contracted for 5th month in a row in October (by 4.2% yoy), Austrian RZB states.
November 19, 2012
EU Budget: Losses for Poland Will Keep Within Limits
Poland will still be the biggest net contributor. According to Poland´s Prime Minister Donald Tusk, the negotiations prove highly difficult.
November 17, 2012
Serbia Attempts New Economic Reforms
The Serbian government does not only want to pursue a strict austerity policy. The country aims to become more attractive for international investors.
November 17, 2012
Belka: Polish Economy Will Recover In 2013
The governor of the Polish National Bank (NBP) Marek Belka demonstrates optimism.
November 17, 2012
Bulgarian Industrial Sector to Expand
Next year, Bulgaria´s industry is expected to record an increase in investments of 27%.
November 17, 2012
Hungary: Next Austerity Package Resolved
The Hungarian government is caught between the need to lower the budget deficit and to support economic growth.
November 17, 2012
Treichl: Austria Should Cooperate with CEE Countries
Erste Group´s CEO Andreas Treichl thinks that CEE countries and Austria should create a model region in Europe like the Scandinavian countries did.
November 16, 2012
Hungary: Decrease in Industrial Production Continues
In September 2012, industrial gross output declined by 3.8% in volume compared to the same month of 2011.
November 16, 2012
S&P Upgrades Latvia
The Baltic country performs well, S&P underlines. The long and short-term sovereign credit rating moved from “BBB-/A-3” to “BBB/A-2”.
November 15, 2012
NBP: Further Interest Cuts Likely
The Polish National Bank may reduce the base rate further. Poland´s economy is expected to slow down next year.
November 15, 2012
„Greece Has No Future in Eurozone“
The Czech President Klaus thinks that the Eurozone could bear a Greek exit without any problems.
November 15, 2012
Hungary´s Recession Goes On
In the third quarter of 2012, Hungary´s GDP was down by 1.5%.
November 15, 2012
Slovak Growth Flattens
Slovakia´s GDP still grows substantially, but slower compared to previous quarters. Employment growth stagnates, though.
November 15, 2012
Czech GDP Drops Further
In the Q3 2012 the gross domestic product adjusted for price, seasonal, and calendar effects decreased by 1.5%, year-on-year, and by 0.3%, quarter-on-quarter, according to the preliminary estimate.
November 15, 2012
Immofinanz: Major Success in Hungary
The Austrian real estate company concludes one of the biggest logistics leasing transactions of the year in Hungary.
November 15, 2012
CESEE: Massive Capital Outflow
In the second half of 2011 and in the first half of 2012, foreign banks withdrew about € 55bn from the region.
November 14, 2012
Austria Third Largest Investor in Czech Republic
According to the Czech President Vaclav Klaus, his Austrian counterpart Heinz Fischer and the President of the Austrian Chamber of Commerce Christoph Leitl, the bilateral trade relations are expandable.
November 14, 2012
CA Immo Expands in Warsaw
“Continuing success for largest Polish property development.” The Austrian property company will complete project before the end of the year.
November 14, 2012
State Visit: Klaus Received by Fischer
Today, the Czech President Vaclav Klaus has met his Austrian counterpart Heinz Fischer in Vienna. The commonalities are rather small.
November 13, 2012
Romania Hopes for New IMF Loan
The economic situation remains gloomy. Foreign direct investments are weakening. The economic outlook is rather decent.
November 13, 2012
Hungary: Inflation Remains on a High Level
In October consumer prices increased by 6.0% compared to October 2011. From September to October 2012, prices were up by 0.1%
November 13, 2012
Hungary: Head of Banking Association Resigns
The chairman of the Hungarian Banking Association Mihaly Patai steps down. He explains that the Hungarian state overburdens the banking sector.
November 13, 2012
Bank Austria: Subsidiaries in Czech Republic and Slovakia to Merge
Bank Austria´s holding company UniCredit starts a Business Refocusing Program in CEE.
November 13, 2012
CESEE: Lending Shrinks
Foreign banks reduce lending in Central, Eastern and Southeastern Europe. Hungary and Southeastern Europe are most affected.
November 12, 2012
Slovakia: Employment and Nominal Wage on the Rise
Employment and average monthly wage in selected sectors of economy in September 2012.
November 12, 2012
Slovenia Still Rules Out Calling for Rescue
The Slovenian government tries to prevent to be bailed out by the EU and IMF by all means. However, experts fear that Slovenia is the next candidate for the safety net.
November 10, 2012