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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
Serbia Lifts VAT Rate
In order to prevent the national bankruptcy, the Serbian government raises the VAT by two percentage points.
September 11, 2012
Slovenian Crisis: Opposition Reassures
Recently, Prime Minister Janez Jansa warned of a national bankruptcy. For the opposition, Slovenia is far from declaring its illiquidity.
September 11, 2012
RWE Agrees to Strategic Collaboration with Serbian Energy Utility EPS
The German energy group has signed a Memorandum of Understanding on further development of energy generation in Serbia. The focus will be on laid on hydropower.
September 11, 2012
Verbund Commissions 100 MW Wind Farm in Romania
The Austrian energy group´s 100 MW wind farm of Casimcea I, close to the Romanian Black Sea Coast, joins the grid.
September 11, 2012
„I´m Concerned About the Atmosphere in Southeastern Europe“
In an interview with the Austrian newspaper “Presse”, the Croatian Minister of Foreign Affairs Vesna Pusic explains that Croatia still aims to become a member of the Eurozone. The Maastricht Criteria would not be fulfilled yet, she says.
September 11, 2012
Moody´s: Poland Still Has Strong Credit Profile
Despite the economic slowdown, Poland´s credit profile remains robust, Moody´s Assistant Vice President Jaime Reusche told PAP.
September 11, 2012
Slovakia: Declining Construction Production in July 2012
In July, the Slovakian construction output decreased, year-on-year, by 11,2 % to € 459,9m.
September 11, 2012
Slovakia: Increasing Employment in Industrial Sector
The highest salaries were recorded in the IT industry, followed by the manufacturing industry.
September 11, 2012
Romanian Romgaz to be Privatized
The privatization of Romgaz at Bukarest Stock Exchange may become Romania´s biggest IPO. According to the Romanian news agency hotnews, other big privatizations in Romania may be postponed.
September 10, 2012
World Economic Forum: Slovakia´s Performance Worsens
According to the World Economic Forum Competitiveness Report, Slovakia´s competitiveness slipped again.
September 10, 2012
Hungary: Bank Tax Intake Lower than Expected
The bank tax proceeds only reach 40% of the planned volume.
September 10, 2012
Slovenia: Juncker Calls for Reforms
The chairman of the euro-group Jean-Claude Juncker warned Slovenia. “The situation is critical, there is no time to lose.”
September 10, 2012
Slovakian Industrial Production on the Rise
Industrial production index (IPI) increased by 18,5 % in July 2012, compared with July 2011. The development was mainly affected by a rise in manufacturing by 22,6 %.
September 10, 2012
Austerity Package: Czech Government Asks for Vote of Confidence
After the austerity package was disapproved by the Czech Parliament, the government resubmits the bill to the Chamber of Deputies.
September 10, 2012
Hungary: Orban Rejects IMF´s Conditions
This week, a list containing IMF´s conditions for a € 15bn loan became public. However, it is not known whether the list is a counterfeit. Not at this price and not in this way.” Hungary´s Prime Minister Viktor Orban said.
September 8, 2012
Romania Leaves Recession Behind
In the second quarter, Romania´s GDP was up by 0.5% The construction industry was the driving force.
September 8, 2012
Temporary Surplus in Serbia´s Budget
Due to the VAT intake, Serbia faced a budget surplus in July. In June, Serbia recorded a massive deficit.
September 8, 2012
Serbia: Exports Decline, Foreign Deficit Goes Up
According to RCB (Raiffeisen Centrobank), the draught in Serbia is likely to reduce the corn yield exports volumes. The trade deficit rose by 13.6% in June.
September 8, 2012
Investigation of Non-Performing Loans
The Slovenian public prosecutor´s office investigates the level of non-performing loans at the two biggest banks NLB and NKBM.
September 8, 2012
Czech Republic: No VAT Increase
The governing coalition failed in seeking approval by the parliament. In order to lower the budget deficit, the government intended to lift the VAT rates.
September 7, 2012
Serbian Industrial Production Declines
In June, Serbia´s industrial production fell by 4.0% against 2011. The outlook is not promising, RCB says.
September 7, 2012
Takeover of OMV´s Petrol Stations: INA Faces Legal Restrictions
The Austrian OMV Group plans to withdraw from Croatia and Bosnia. The Croatian subsidiary of MOL is interest in OMV´s petrol stations, but may face legal restrictions from a competition law point of view.
September 7, 2012
Serbia´s Current Account Deficit on the Rise
According to RCB (Raiffeisen Centrobank), the current account gap widened in June by 15.6% mom supported by remittances fall (-32.0% mom),
September 7, 2012
Polish Central Bank Retains Interest Rate
NBP (National Bank of Poland) kept the base rate at 4.75%. In the last weeks, a cut was discussed.
September 7, 2012
IMF: List of Demands against Hungary Became Public
The list contains demands of the IMF against Hungary and is the precondition for the safety loan of € 20bn. However, the list could be a counterfeit.
September 7, 2012
Lithuania´s Rating Confirmed
The rating agency Standard & Poor´s (S&P) kept Lithuania´s sovereign debt rating at BBB.
September 7, 2012
New Airline for Hungary?
After the insolvency of Malev in March 2012, the Hungarian government is said to promote a new airline.
September 6, 2012
Slovakia: Rising Unemployment Despite 2.8% GDP Growth
In the second quarter of 2012, Slovakia´s GDP moved up by 2.8%. The unemployment rate reached 13.6%.
September 6, 2012
Hypo Group´s Capital Shortfall at € 2.2bn
Today, the Austrian Financial Market Authority (FMA) announced its new estimation regarding the nationalized banking group. Insiders fear that Hypo Group needs even more money.
September 6, 2012
Agrana Launches 2012 Fall Campaigns
This year, the Austrian sugar and starch company expects lower yields.
September 6, 2012
Croatian INA Submits Offer to OMV
Austrian OMV sells its petrol station business in Croatia and Bosnia. The Croatian subsidiary of Hungarian MOL has submitted a binding offer.
September 5, 2012
Slovenia: „Irish or Greek Way“
The Slovenian economist Egon Zakrajsek explains that Slovenia´s illiquidity only a question of time. The problem banks should be sold, he recommends.
September 5, 2012
Latvia: Majority Rejects Euro
According to a opinion poll by “Latvijas fakit”, 59% of the Latvians does not want to join the Eurozone.
September 5, 2012
Oberbank to Expand in Hungary
The Austrian regional banks plans to open new branches in Hungary
September 5, 2012
Poland Adapts Austerity Targets
Due to the economic crisis in Europe, the Polish government gives up its aim to reach a budget deficit below 2.2% of GDP.
September 5, 2012
Slovenia „No Problem for Austrian Banks“
Although Austria is the biggest investor in Slovenia, the Austrian banking industry does not fear a national bankruptcy.
September 5, 2012
Magna Denies Reports on Expansion in Poland
According to Polish media reports, Magna was said to invest € 238m in Poland. The Canadian automotive group denies expanding in Poland.
September 4, 2012
Slovakia Records Growing Current Account Surplus
In the first five months of 2012, Slovakia´s current account surplus reached € 1.24bn. Against the reference period of 2011, this is an increase by € 350m.
September 4, 2012
Czech VAT Increase to be Resolved
The Czech government wants to increase the tax intake by € 1.0bn. Economists warn of a deepening of the recession.
September 4, 2012
Slovakia: Budget Deficit Reached € 2.67bn
In August, Slovakia´s budget shortfall increased to € 2.675bn from € 2.239bn in July.
September 4, 2012
Hypo Group Reduced Capital at Croatian Subsidiary
The Austrian nationalized bank cut the stock capital of the Croatian subsidiary by € 100m.
September 3, 2012
Magna to Invest € 238m in Poland
The Canadian automotive group plans to produce cars for “Mini” and “Infinity”.
September 3, 2012
Hungary: Foreign Direct Investments Declining
Against the reference period of 2011, investments in Hungary were down by 6%.
September 3, 2012
Brand Poland Increases Value Massively
In the Most Valuable Nation Brand ranking, Poland ranks 20th.
September 3, 2012
Slovenia: “Danger for Austrian Banks is Limited”
Although Austria would be most affected by a Slovenian national bankruptcy, the likeliness of this scenario is rather low, analysts say.
September 3, 2012
Slovenian Bankruptcy Would Hit Austria Particularly Hard
Prime Minister Janez Jansa announced that Slovenia may have to declare its national bankruptcy in October. Austria´s share in foreign direct investment made in Slovenia reaches about 50%.
September 3, 2012
Kapsch Acquired Czech Data Storage
The Austrian IT company strengthens its presence in CEE with acquisition of Data Storage in the Czech Republic.
September 3, 2012
OMV and Total Start Gas Drillings in Bulgaria´s Black Sea
Bulgaria wants to reduce its dependence on Russian energy. Together with the French Total Group and the Spanish Repsol Group, Austrian OMV begins test gas drillings in the Bulgarian Black Sea.
September 1, 2012
Poland as European Logistics Hub
Real estate analysts predict that Poland will become Europe´s logistics hub in 2020.
September 1, 2012
Foreign Investors Dominate at WSE
Warsaw Stock Exchange: The share of foreign investors in trade on the alternative market has increased substantially. WSE’s Main Market has remained stable after the previous period with foreign investors still in the lead.
September 1, 2012
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