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
Rising Bankruptcy Fears in Eastern Europe
The Austrian Creditor Protection Association “Creditreform” foresees a further rise in bankruptcies in Eastern Europe. The economic crisis is not over yet.
February 9, 2011
150 New Bank Austria Branches in Eastern Europe
The new board of the CEE Division of Bank Austria presented the group's expansion plans for Eastern Europe. By 2015, 900 branches are to be added.
February 9, 2011
Raiffeisen Bank International Acquires 70% of Polbank
The Austrian RBI purchases Polbank for € 490m in cash. Polbank is seen as ideal complement to existing Raiffeisen Bank Polska .
February 4, 2011
Investments in Renewable Energies in the CEE are booming
According to a study by TPA Horwath, Austrian companies will expand massively their involvement in the field of renewable energies in the CEE region.
February 4, 2011
Siemens Austria Receives an Order for Poland
The Austrian subsidiary of the German technology group will supply 35 trains worth € 272m of the new Metro-generation "Inspiro" to Poland.
February 3, 2011
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
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