Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
House Searches at Strabag Subsidiary in Croatia
The corruption scandal at the Croatian Chamber of Economy affects public road authority HAC and construction companies that were commissioned, among them Austrian Strabag and Alpine.
October 22, 2013
Amazon to Open Distribution Centers in the Czech Republic
The world’s largest online retailer Amazon plans to create 10,000 jobs in the Czech Republic within the next three years.
October 22, 2013
Slovenia: Banka Sparkasse Provided with Loan by EIB
EIB continues to support SME and mid-cap projects in Slovenia.
October 22, 2013
Austria: Bank Aids Burden State Budget
Since the beginning of the financial crisis, Austria has lost billions of Euros.
October 22, 2013
Serbia Cuts Interest Rate
The executive board of the Serbian National Bank decided to lower the key policy rate by half a percentage point, to 10.5 percent.
October 21, 2013
EBRD Analyzes Slovenia´s Difficulties
From October 21 to 25, a delegation from the European Bank for Reconstruction and Development will visit the ailing country.
October 21, 2013
Eurozone: Economy Starting to Grow
Experts at Ernst&Young; forecast economic growth of 0.9 percent in 2014 in consequence of an improved global economic performance.
October 21, 2013
German Rail Manufacturing Plant of Voestalpine to be Closed
At the end of October voestalpine will shut down its rail manufacturing plant TSTG Schienen Technik GmbH & Co KG in Duisburg, Germany.
October 21, 2013
Austria: State Debts Could Amount to 74.5 Percent of GDP
The statistical office of the European Union, Eurostat, raised doubts about the Austrian budget deficit and public debts because of the financial scandal of the government of the province of Salzburg.
October 21, 2013
Hypo Group Reigned by Greed and Criminal Activities
In an interview with Austrian daily “Standard“ forensic expert of nationlized Hypo Group Christian Böhler revealed that former managers of the bank enriched themselves personally.
October 21, 2013
Poland: IMF Upgrades Growth Forecasts
According to the IMF, Poland´s GDP growth will reach 2.4%. In the prior forecast, the IMF anticipated a 2.2% growth rate.
October 21, 2013
Slovakia: New Burden for Insurance Industry
The Slovak government extends special taxes for companies operating regulated sectors. The bank tax will be abolished in the course of the next years.
October 21, 2013
Romanian Romgaz Starts IPO
Tomorrow, Monday, the Romanian government sells a 15% stake in Romgaz via the stock exchange. In the last months, the IMF has urged Romania to accelerate the privatization policy.
October 21, 2013
Croatia: EU-Membership Did Not Help Yet
In the first months of its EU membership, the situation in Croatia´s industrial sector deteriorated further.
October 19, 2013
“Problems in the CESEE Region Are Mainly Fundamental”
In an interview with Gazeta Wyborcza, Reza Moghadam, director of the IMF´s European Department, says that the weakness of the CESEE region is not only cyclical.
October 18, 2013
Slovenia: Massive Concerns Against Real Estate Tax
The Slovenian government plans to introduce property taxes in order to reduce the budget deficit. The opposition warns that the tax may be “highly counterproductive”.
October 18, 2013
Nowotny Demands Same Rules for All Banks
Govenor Nowotny urges for a discussion about the capital requirements (Basel III) for banks, which applies only for the major banking institutes in the US but for all banks in Europe.
October 18, 2013
Turkey: Green Light for EU Accession Talks
On Tuesday, the EU Commission intends to give green light to accession negotiations with Turkey starting at the beginning of November.
October 18, 2013
RBI Considers Participation in Hypo Group’s Bad Bank
In a radio interview with “Ö1”, Karl Sevelda, CEO of Raiffeisen Bank International (RBI), announced that he regards a particpation of his bank as possible.
October 18, 2013
OMV: Weakest Refining Margin Since 2009
Compared to the same period in 2012, the whole production of Austrian oil company OMV has decreased in the third quarter as well as compared to the previous quarter.
October 18, 2013
Bulgaria to Encourage Chinese Investments
Investments from China in Bulgaria currently come at € 85m, reports SME Times.
October 18, 2013
IMF Warns of Financial Instability in CESEE
Due to the high non-performing loan quota and the deleveraging of Western banks, the countries of Central, Eastern and Southeastern Europe are still far from financial stability.
October 18, 2013
„Czech Republic Does Not Fully Use Its Potential“
Czech Prime Minister Jiri Rusnok thinks that the performance of the Czech economy is not dramatically bad. However, the Czech Republic must use its opportunities more effectively.
October 17, 2013
Mitterlehner: “2014 Will Become Significantly Better“
Austrian Minister for Economy Reinhold Mitterlehner considers the Austrian economy to be in a spirit of optimism as an upturn in Europe has become evident. According to him, 2014 is supposed to become “significantly better” than 2013.
October 17, 2013
Serbia: EU Candidacy to Accelerate Reforms
On the occasion of a meeting with head of the EU Delegation to Serbia, Serbia´s Prime Minister Ivica Dacic expressed his willingness to deepen the reform process.
October 17, 2013
Slovenia Introduces Property Tax
In order to reduce the massive fiscal shortfall, Slovenia is looking for new revenues. The property tax may bring more than € 400m.
October 17, 2013
EU Enlargement: Commission Recommends to Take Up Albania and Macedonia
In a set of annual reports adopted, the European Commission recommends granting EU candidate status to Albania and for the fifth time in a row, the opening of accession negotiations with the former Yugoslav Republic of Macedonia.
October 17, 2013
Austria: RBI Expects Stabilization
Business in CEE seems to be in an up again. RBI is preparing for an IPO at the Warsaw stock exchange.
October 17, 2013
Poland: Inflation Remains Stable
Inflation net of food and energy prices amounted to 1.3% y/y, representing a 0.1 pp decrease on the figure recorded in the two previous months.
October 17, 2013
Austria: Voestalpine Expects Same Results as 2012
CEO Wolfgang Eder expects the same level in profits as last year.
October 17, 2013
Romania: Privatization of Railroad Company Flopped
The privatization of Romanian freight railroad company CFR Marfa failed. The sale of shares is part of the conditions with IMF, the World Bank and the European Union.
October 17, 2013
CESEE Region Suffers from Migration
The countries of Central, Eastern and Southeastern Europe are confronted with a highly unfavorable demographic trend. The brain-drain is expected to persist.
October 17, 2013
Austria: New Fiscal Difficulties
Austria´s state budget 2014 is not resolved yet. Moreover, a number of assumptions are highly uncertain.
October 17, 2013
Eurozone: Banking Union Approved
From autumn 2014 on, the European Central Bank (ECB) will directly supervise 130 major banks within the Eurozone.
October 16, 2013
Poland to Improve Railway Infrastructure
According to CIR, the Polish government’s press center, the government plans on spending PLN 979m on railway infrastructure in 2014 and a further amount of PLN 692m in 2015.
October 16, 2013
Austria: Alpine Bankruptcy Caused Further Enterprises to Go Bust
Alpine’s bankruptcy has caused thirteen enterprises to slip into insolvency so far. Half of the companies are currently fighting for continuation, according to credit protection agency KSV 1870.
October 16, 2013
Austria: Decisions about Hypo Group Expected This Year
Decisions about the future of problem bank Hypo Alpe Adria will in all likelihood be delayed.
October 16, 2013
Bulgaria Supports Trans Adriatic Pipeline
During yesterday’s world media meeting, on behalf of his country Bulgarian President Rosen Plevniev expressed his support of the Trans Adriatic Pipeline project (TAP).
October 16, 2013
Ukrainian Gas Pipeline Key Issue for EU Commission
A gas pipeline plan in the Ukraine is among the EU Commission’s key infrastructure projects.
October 16, 2013
Austrians Opposed to EU Enlargement
According to a survey, the majority of Austrians are opposed to an EU Accession of Turkey and Western Balkan States.
October 16, 2013
Poland to Keep VAT Rates The Same Until 2015
In order to cut debts, the Polish government decided not to lower the level of VAT.
October 15, 2013
Poland: 70 Percent against Introduction of Euro
According to a recent survey carried out by Public Opinion Research Center (CBOS) as many as 70 percent reject the idea of introducing the Euro to Poland.
October 15, 2013
Solution to Croatian/Hungarian Mol Issue Expected Soon
The Croatian justice has issued an international arrest warrant for the head of Hungarian oil company Mol.
October 15, 2013
Bulgaria: Number of „Working Poors“ Grows Considerably
Bulgaria´s average wage only comes at € 269 per month. 600,000 Bulgarian earn less than € 180 per month.
October 15, 2013
Experts Urge Serbia to Accelerate Austerity Measures
It is still questionable whether the austerity measures announced by the Serbian government are sufficient.
October 15, 2013
Russian and Ukrainian Oligarchs Interested in RBI’s Affiliate
The Ukrainian affiliate of Raiffeisen Bank International (RBI), Bank Aval, has become the object of desire for Russian billionaire Fridman and Ukrainian banker Lagun.
October 15, 2013
Polish Airline LOT Staves off State Aid
Because of the effective restructuring measures, the airline carrier has fended off the need for a capital injection by the Polish state, accordint to Deputy Treasury Minister Rafal Baniak.
October 15, 2013
Calculated Optimism in Slovenia
Slovenia´s Ministry of Economics expects a return to growth in the course of next year. According ot economists, this forecast is leading to doubt.
October 15, 2013
IMF: Hungary´s Fiscal Situation Deteriorates
According to the IMF, Hungary´s public debt quota will increase. This stands in opposition to the optimistic forecasts of the government.
October 15, 2013
„CESEE Is Not the Devil Anymore“
Regarding the development of the CESEE equity market, Birgit Kuras, CEO of Vienna Stock Exchange (VSE) demonstrates optimism.
October 14, 2013
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