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

Consumption Expenditure of Foreign Tourists Grows

Russian and Chinese tourists are proving to be particularly generous consumers in Austria. Overall sales rose by 23% in 2010.

February 3, 2011

Strabag SE Awarded two Road Construction Contracts in Romania

The Austrian construction company rehabilitates and upgrades national roads DN14 and DN15A. Combined value of both contracts around € 106m.

February 2, 2011

Refunding at S&T Accepted by Banks

The Austrian software company could close a “refinancing package” with its creditors. S&T sells subsidiaries in Ukraine and Moldova.

February 1, 2011

Telekom Austria Announces Closing of Spectrum Net Takeover

The acquisition of the second Bulgarian fixed network provider will be completed within the next weeks.

January 28, 2011

New Order in Poland for Kapsch CarrierCom

Kapsch CarrierCom has won the next large order for the deployment of a digital train radio system.

January 28, 2011

Humanomed to Expand to CEE/SEE

The Austrian Humanomed-Group, a health care company, sees potential to expand to countries in (South) Eastern Europe.

January 28, 2011

U.S. Embassy on Hypo Group: "Mini-empire in the Balkans"

New Wikileaks documents indicate that the U.S. Embassy analyzed the symbiosis between the Austrian financial and political scene.

January 27, 2011

Slow Progress for Nabucco

The negotiations in the Caspian region are "tough", but the political will exists, say sources from the Austrian oil and gas group OMV.

January 26, 2011

Croatian Purchase for Telekom Austria

Telekom Austria is facing the purchase of Croatia's fixed-network provider Metronet for the amount of € 100m. However, the bidding process is not complete yet.

January 25, 2011

New CFO for Vienna Insurance Group Slovakia

Vienna Insurance Group in Slovakia: Klaudia Volnerová is appointed Kooperativa's new Chief Financial Officer

January 21, 2011

Strabag: Layoff Wave in the Czech Republic

Because of the weak order situation, the Austrian construction group dismisses up to 380 employees at the Czech location.

January 20, 2011

Volksbank: Romania Lowers Results

The losses in Romania constitute a distinct disadvantage, especially for the sale process of the East-Holding of the VBI.

January 19, 2011

Hungary: Calls for Boycotts against Foreign Companies in Hungary

A Hungarian initiative demands that 13 foreign companies be boycotted, including Austrian OMV

January 18, 2011

Poland is a Big Opportunity for Austria's Export Economy

The Austrian Economic Chamber sees tremendous opportunities for the local export industry. The construction industry could particularly benefit from the boom in Poland.

January 15, 2011

New Perspectives for Nabucco

The European Commission wants to commit Azerbaijan to supply gas to Europe. This is expected to be done via the Nabucco pipeline.

January 14, 2011

CEE Economic Growth Forecast: 3.8% in 2011

According to UniCredit, especially Turkey, Poland, Czech Republic and Estonia will bounce back impressively due to stronger industry and domestic demand.

January 13, 2011

CEE: Raiffeisen Remains Optimistic

The analysts of the Austrian Raiffeisen International Bank give Austria and the CEE good growth prospects. However, there still remain known risks.

January 12, 2011

Telekom Austria: New Acquisitions in Croatia?

The signs of Telekom Austria’s efforts to expand in Croatia are getting more evident. The group is being discrete however.

January 12, 2011

Polbank: Imminent Decision

The decision for the sales process of Polbank will be announced in the next few days, according to the parent company EFG Eurobank.

January 10, 2011

Energie Steiermark Acquires Majority Stake of Gas Supplier in Belgrade

67% of Serbian Beogas are being taken over by the Styrian energy company.The concession covers a service area in the Serbian capital, with over 400,000 customers.

January 10, 2011

Bank Tax in Poland?

The Polish government is considering levying taxes on banks already in 2011. From the Austrian perspective, Raiffeisen Bank International would be affected.

January 5, 2011

Satisfaction at CEE Stock Exchange Group

The CEE Stock Exchange Group (CEESEG) looks back at a “busy and successful year 2010”.

January 5, 2011

CEE Stocks to Climb by 20% in 2011

Erste Group analysts recommend: stock picking rather than sector allocation. 2011 to be a positive year for equity investments.

January 5, 2011

SW Umwelttechnik: New Orders Totalling € 6.5m

OMS, the engineering company of the Austrian SW Group, won contracts in Hungary and Romania valuing a total of € 6.5m.

January 5, 2011

Poor Outlook for Creditors of SkyEurope

The Austrian-Slovakian airline, which became insolvent in 2009, will only reach a quota of 16%.

January 4, 2011

Special Tax: Hungary Under Fire

Especially the Austrian economy criticizes the Hungarian special tax on large companies. The EU Commission has already started an investigation.

January 4, 2011

13 CEOs Call For Sanctions Against Hungary

Because of the new taxes introduced by the Hungarian government, a group of prominent European CEOs call for EU-sanctions.

January 2, 2011

VBI Romania is a Source of Worries for ÖVAG

Volksbank International (VBI) is to be sold by the Austrian Volksbanken Group. The Romanian subsidiary keeps the group from doing so.

December 31, 2010

Austria's Labor Market Opens

As of May 1, 2011 the German and Austrian labor markets open for the new EU citizens. Romania and Bulgaria will follow suit in 2013.

December 30, 2010

Spindelegger: Turkey's Joining the EU Will Not Happen Before 2024

In an interview with the "Wirtschaftsblatt", the Austrian Foreign Minister stresses the relevance of Turkey. Croatia should come into the EU much earlier EU.

December 29, 2010

Italian Support for Nabucco

The Italian power company Edison cooperates with the Nabucco gas pipeline project. The aim is to create synergies.

December 28, 2010

Garage Operator Company List Expands to Hungary

The Vienna-based List Group, which acts as real estate company, acquired the Wipark Group in Hungary.

December 28, 2010

Sanader Remains in Extradition Custody

Custody prior to extradition was imposed on the former Croatian Prime Minister Sanader. He complains about the "arbitrariness of the Croatian authorities".

December 28, 2010

Czech Railways Considers to Acquire ÖBB-Railjets

The Austrian Federal Railways doesn´t want to exercise its option to buy further Railjets from Siemens.

December 28, 2010

Investigations Against Sanader Continue

The investigation of Austrian and Croatian authorities against the former Prime Minister of Croatia in the Hypo affair are being intensified. Many questions remain unanswered.

December 23, 2010

Telekom Srbija: Minimum Price € 1.4bn

The Serbian Ministry of Economy announced today the minimum price for the majority stake in Telekom Srjbija. Telekom Austria is an interested party.

December 23, 2010

Raiffeisen Negotiates over Polbank

The Austrian Raiffeisen Bank International (RBI) negotiates actively for the Polish Polbank.

December 23, 2010

Vienna Insurance Group Expands in Macedonia

Vienna Insurance Group granted life insurance licence in Macedonia. The project will be started with the Austrian bank Erste Group.

December 23, 2010

OMV Gas Project is Delayed

Austria's OMV is involved in a joint venture for a liquid gas project in Croatia. Delays are expected.

December 23, 2010

Hypo Group: Sanader Denies Payments of Commissions

The former Croatian Prime Minister Ivo Sanader, questioned in Salzburg, denies having ever received money from the Hypo Group.

December 22, 2010

New Markets for Red Bull and Rauch

The Austrian Food companies Rauch and Red Bull open new distribution networks through the Croatian Atlantic Group.

December 21, 2010

Austrian-Hungarian Know-How for Macedonia

The Hungarian and Austrian Stock Exchanges make their capital market know-how available to the Macedonian Stock Exchange.

December 21, 2010

New Project in Poland for Atrium

Atrium strengthens polish portfolio with € 168.5m acquisition of a shopping centre in Warsaw.

December 20, 2010

Accusations Against Sanader Grow Stronger

Many clues point to improper activities by former Croatian Prime Minister Ivo Sanader in connection with the Hypo Group.

December 16, 2010

OeNB: Recovery of the Financial System in a Persistently Uncertain Environment

The OeNB considers that domestic banks benefit from the positive development in the CEE region. However, uncertainties stay on as before.

December 15, 2010

New Logistics Center for Gebrüder Weiss in Romania

The logistics company Gebrüder Weiss has entrusted the construction of a logistics center in Sibiu to the Unger Steel Group as general contractor again.

December 14, 2010

Contradictions about Sanader's Connection to Carinthia

The connection between the former Croatian Prime Minister Sanader and the Carinthian Hypo Group is multifaceted, but also full of contradictions.

December 14, 2010

The Croatia-Connection of the Hypo Group

The recent arrest of former Croatian Prime Minister Ivo Sanader casts shadows on the Carinthian Hypo Group.

December 10, 2010

OMV: Nabucco Underway as Planned

Austrian OMV considers that the gas pipeline project of European energy companies is developing according to plans.

December 10, 2010

Difficult Times for Austrian Investors in Zagreb

The plan of an Austrian group of investors to build the largest shopping center in Europe in the Croatian capital threatens to fail.

December 10, 2010
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