Austria and Eastern European countries - Latest headlines about bilateral relations in the areas of economy, business, diplomacy, culture and tourism
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Eastern European Countries and Austria | Bilateral Relations

Hungary Considering Buyback of ÖBB’s Rail Cargo Hungaria

The Hungarian state is interested in acquiring a stake in the Austrian Federal Railways’ cargo subsidiary which it privatized in 2008.

June 14, 2011

Austria Still Biggest Investor in Serbia

Since 2000, Austrian companies have invested more than € 3bn in the Balkan country.

June 14, 2011

Immofinanz Acquires Office Property in Warsaw

The Austrian real estate company already held 51% of the property and is now becoming the sole shareholder. The transaction includes the sale of another object to a project partner.

June 10, 2011

Trade with the Czech Republic Is Booming

Austrian companies increased their exports to the country by 32% in the first quarter of the year. In 2010, Austria was the biggest foreign investor.

June 9, 2011

Nabucco Legal Framework Finalized

Project support agreements were signed by each transit country. They are a prerequisite for the successful financing of the pipeline.

June 8, 2011

Telekom Austria Acquires B.net Hrvatska

The telecommunications group purchases Croatia’s largest cable operator from Bewag, an Austrian regional electricity supplier.

June 8, 2011

New Motorway Order for Strabag in Romania

The Austrian construction company is going to build a motorway section between the cities of Orăştie and Sibiu. Order volume amounts to € 166m.

June 7, 2011

Immofinanz Considering Listing in Warsaw

The Austrian real estate group would be interested in a listing if red tape were reduced. It is currently looking for acquisition opportunities in Poland and Russia.

June 7, 2011

Telekom Austria Bidding for Kosovo Telecom

The Austrian telecommunications group and a Croatian competitor have been shortlisted in the privatization process of Kosovo’s most profitable company.

June 7, 2011

Raiffeisen Not Interested in Hypo

The Austrian bank group is currently expanding in Poland but it is not going to bid for Hypo Alpe Adria as an acquisition “would not make sense”.

June 6, 2011

UniCredit and Raiffeisen Seek to Broker Bulgaria's EVN Stake Sale

Bulgaria is going to sell its minority stake in an electricity distributor operated by the Austrian energy company.

June 3, 2011

Nabucco Receives Further Support by Transit Countries

Five countries are going to sign an agreement on the realization of the infrastructure project. Works are scheduled to start in 2013.

June 1, 2011

AUA Give Up Their Focus on CEE

Austrian Airlines are going to improve their connections to Western Europe at the expense of their destinations in the East. The company is currently serving 46 airports in CEE.

May 30, 2011

Sberbank Targeting RBI

The Russian bank intends to expand its business to Kazakhstan and the Baltic countries. Both companies denied speculations about a potential capital injection.

May 30, 2011

Purchasing Power Parities 2011 from the Austrian Perspective

US travelling is cheap due to the strong euro. Austrians have high purchasing power advantages of around 50% in the Czech Republic, Slovakia and Hungary.

May 27, 2011

ÖBB: No Sale of Loss-Making Rail Cargo Hungaria

The Austrian Federal Railways want to become market leader in rail cargo in Central and Southeastern Europe. € 30m will be invested in Hungary.

May 27, 2011

Alpine Lands Pipeline Project in Czech Republic

The Austrian construction company is going to build 105.8 km of a new gas pipeline. The contract value is € 76.7m.

May 26, 2011

Eastern Europe Becoming Attractive Again

For two years Austrians have abstained from investing in Eastern Europe, resulting in a loss of market share in these countries. Interest starts to recover now.

May 25, 2011

Alpine to Build Motorway in Romania

The Austrian construction company is going to build a motorway section for € 91m within a period of 22 months.

May 24, 2011

CA Immo Sold Two Shopping Centers in the Czech Republic

The Austrian real estate group and a Czech investor agreed on the sale of two malls for an amount of € 96m.

May 24, 2011

OMV Considering Closer Cooperation with Azerbaijan

The Austrian oil and gas group is in talks about investments in the oil-rich country which is an important supplier for Nabucco.

May 20, 2011

EPIC Completes the Acquisition of UkrTelekom

The Austrian financial investor purchases 92.79% of the Ukrainian telecommunications company for € 921m.

May 16, 2011

Expansion Plans at Erste Group and Raiffeisen

RBI is drawn increasingly to the Czech Republic, while the Erste Group focuses on the Polish banking market.

May 13, 2011

Falkensteiner Michaeler Tourism Group on Growth Course

With the four-part investment strategy in Central and Southeastern Europe, the Falkensteiner Michaeler Tourism Group AG (FMTG) is on the path to success.

May 12, 2011

Romania Offers Export Opportunities for Austria's Environment Industry

18 top Austrian companies active in the areas of environmental technology and renewable energies are present in Bucharest.

May 12, 2011

Zagreb Airport: Austrian construction companies hope for an addition

Austrian construction companies Strabag and Alpine fight for the award of an additional contract in a € 200m project.

May 11, 2011

Radovan Jelasity appointed CEO of Erste Bank Hungary

Radovan Jelasity (43) will join Erste Bank Hungary as of 1 June 2011. Subsequent to the approval of the respective Hungarian authorities, he will be appointed Chief Executive Officer (CEO).

May 10, 2011

Raiffeisen International Bank Intends to Get Further Involved in Poland

After the purchase of the Polbank in February, the Austrian RBI seems to be interested now in the Polish DZ Bank. Its chances are however considered to be low.

May 10, 2011

Atrium Strengthens Polish Portfolio

Atrium European Real Estate announces that it has completed the acquisition of the Promenada Shopping Centre (“Promenada”) in Warsaw, Poland for €171 m from Carpathian PLC.

May 9, 2011

Telekom Austria: Serbian Deal Failed

The new offer by Telekom Austria is rejected in Serbia: the sale has failed.

May 7, 2011

Nabucco Announces Further Delay of Pipeline Project

Nabucco Gas Pipeline International GmbH today announces a revised timeline for the Nabucco pipeline project., which is due to a lack in suppliers.

May 6, 2011

Is Nabucco Turning into a Cost Trap?

The Nabucco gas pipeline could be twice as expensive as previously planned, according to sources from Turkey.

May 6, 2011

Immofinanz takes over 100% of Zagreb’s Grand Centar

Immofinanz acquired the remaining 20% stake in the Grand Centar in Zagreb through its subsidiary Immoest Allegro. This stake was previously held by Generali Immobilien AG.

May 5, 2011

New Bid for Telekom Srbija

The Telekom Austria Group Submits a Revised Conditional Bid of up to € 1.1 Bn for the Acquisition of a 51% Stake in Telekom Srbija

May 4, 2011

Moderate Premium Growth for Merkur Versicherung

Record premium increase of 22.7% in the accident insurance division. Continued upward trend in South East Europe: Merkur increases its market share in Bosnia and Herzegovina to 29.3%.

May 4, 2011

Wolf Theiss Identifies Opportunities in CEE Electricity Markets

Significant legislative changes particularly in Bulgaria and Romania, two of the most dynamic markets for RES-Electricity in the CEE/SEE region, have resulted in a dramatic increase in investor and other stakeholder interest in such projects.

May 3, 2011

VIG Re: Significant Improvements in Results

The premium volume of the Czech subsidiary of the Vienna International Group rose by 9.1% to € 280.6m.

May 3, 2011

Serbian News: "Stake in Telekom Srbija already Sold to Telekom Austria"

Although there is still no official announcement from the government on the sale of Telekom Srbija, there is speculation the company has already been sold, Serbian B92 reports.

May 2, 2011

SW Umwelttechnik Reports Satisfying Rise in Sales

Sales of the Austrian technology company were up by 12%. The company completed its first major export projects in Bulgaria and Moldova.

April 28, 2011

Erste Group: Slight Increase in Profits Expected

UniCredit and RCB expect a slight rise in profits for Erste Group, despite bank taxes in Austria and Hungary.

April 27, 2011

OMV: No Increase in Share on Petrom

The Austrian energy company OMV will not participate in OMV Petrom secondary public offering.

April 27, 2011

Shipping on the Danube is Far Below its Potential

Capacities are only being utilized in modest proportions on Austria’s main waterway. Investments in expansion would be necessary.

April 23, 2011

Eastern Europe as Growing Market for Austrian Wine Exports

Around 80% of the Austrian wine exports are going to Germany. However, growth rates in Russia and Poland are surprisingly high.

April 23, 2011

Telekom Srbija: Rising Prospects for Telekom Austria

Telekom Austria might still succeed in Serbia with an alternative solution. The mobile subsidiary would have to be handed over.

April 22, 2011

Record Results for Arcotel Hotel

ARCOTEL Hotel AG ends the financial year 2010 with extremely positive results. Sole director Manfred Mayer intends to continue expanding in future.

April 20, 2011

Warimpex to launch a Private Placement of Convertible Bonds

The Austrian real estate company intends to issue convertible bonds amounting to € 29.73m at the Warsaw Stock Exchange in order to "enhance financial flexibility".

April 20, 2011

Erste Group Manages € 1.00bn increase of Slovak sovereign bonds

Total orders at approximately € 1.4bn from almost 80 investors . Approx. 80% have been subscribed internationally, mostly from Czech, Germany, Austrian, Benelux and Asian investors

April 18, 2011

Real Purchasing Power: The Gap Between Austria and the CEE Region is Getting Smaller

For the coming years, a steady rise in unit labor costs in the CEE countries with the corresponding impact on the competition for business locations is expected.

April 16, 2011

Immofinanz Opens Tenth Retail Park in Slovakia

STOP.SHOP., an Immofinanz Group umbrella brand for specialty shopping centres in Central Europe, continued its growth course with today’s opening of the tenth retail park in Slovakia.

April 15, 2011

EVN Makes € 105m Investment in Croatia

The Croatian subsdiary of the Austrian energy company EVN started construction works on Zadar county gas network.

April 14, 2011
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