Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
Rosneft to Take Over Itera
According to a newspaper report, Rosneft intends to take over Russia’s second biggest gas supplier Itera for around € 2.3bn.
May 28, 2013
Capital Inflow & Outflow In Hungary Broke Records Last Year
Last year, the amount of foreign direct investments totalled EUR 10.462bn in Hungary, which exceeds the previous year’s figure by EUR 6.7bn and which is the largest amount ever recorded.
May 28, 2013
Commission to Publish Reform Recommendations
24 countries, among them Austria, will receive recommendations for reforms by the EU Commission.
May 28, 2013
Czech Republic: Russia to Offer Significant Investments in Return for Temelin Tender
Czech Prime Minister Necas emphasized on the transparency of the decision.
May 28, 2013
Turkey: Next Step Towards EU
According to Reuters, Turkey can now hope for its long-awaited next step towards an EU entry in June. France has lifted its opposition to the country’s EU Accession talks. Experts point out the great economic potential the country offers.
May 28, 2013
RBI: Stepic’s Successor to Be Announced Next Week
Former CEO of RBI (Raiffeisen Bank International) Herbert Stepic has publicly declared his resignation last week. The announcement to his successor is a long time in the coming.
May 28, 2013
Romania to Enhance Shale Gas Production
Romania has announced to soon launch further tenders to increase the exploration of shale gas.
May 27, 2013
Hungary: EDP to Be Dropped.
Hungary can count on the termination of the Excessive Deficit Procedure (EDP) by the European Union.
May 27, 2013
Lopatka: "Austria Is a Leading Investor in the Western Balkans States"
Austrian State Secretary welcomes the most recent agreement between Serbia and Kosovo as pointing the way towards enlargement
May 27, 2013
Serbia to Receive Russian Support in South Stream Project
Russia to provide € 1.7bn for construction of South Stream gas pipeline project in Serbia.
May 27, 2013
Austria: Faymann Proposes Extension of Bank Levy
Not only the federation and taxpayers should avow for the losses at Hypo Group. This week the restructuring plan has to be handed to the EU Commission.
May 27, 2013
Commission Welcomes Slovenia’s Commitment
The EU Commission approved of Slovenia’s adoption of a balanced budget rule on Friday last week.
May 27, 2013
Croatia: PM Anxious About Country’s Image
Prime Minister Zoran Milanovic announced that Croatia had to fight hard for its reputation within the European Union.
May 27, 2013
Russia As Big Disappointment for Strabag-CEO
Austrian construction company Strabag has hoped to have gained substantial foodhold in the Russian market by now.
May 27, 2013
Austria: New CEO for RBI to Be Announced "In The Coming Days"
On Monday, the supvising boad will negotiate about the filling of the post for the CEO of listed Raiffeisen Bank International (RBI).
May 27, 2013
Bosnia Under Pressure to Meet EU Accession Requirements
Bosnia is pressed to change legislation if it wants EU membership.
May 24, 2013
Meinl Bank to Enter Bulgarian Market
Meinl Bank still awaits the green light from the Bulgarian National Bank before it can be opened.
May 24, 2013
Poland: Dispute Over Shale Gas Law
Polish Finance Minister Jacek Rostowski has criticized the Environment Ministry for the planned national participation in the production of shale gas.
May 24, 2013
Zeman Demands Stock Exchange for CEE
Czech President Milos Zeman has declared himself in favor of the merger of the stock exchanges in Prague and Warsaw.
May 24, 2013
Austria: Faymann Positive About Extension for Hypo Group
Chancellor Werner Faymann presented himself restrained yet confident about the extension granted by the Commission regarding the deadline for the winding-down of Hypo Alpe Adria Group.
May 24, 2013
Siemens to Cut 1,000 Jobs in Austria?
No official figures were disclosed. However, there are “programs”, which have to be negotiated with employees, according to a spokesman.
May 24, 2013
RBI: Meeting About Stepic’s Successor on Monday
Today, Herbert Stepic announced his resignation as CEO of Raiffeisen Bank International (RBI) due to personal reasons.
May 24, 2013
Slovenia: Huge Cuts in Complementary Budget
Foreign Ministry might be closed down since a 20 percent cut is proposed.
May 24, 2013
Turkey Wants FTA with US
Turkey is eager for a free trade agreement (FTA) with the U.S.
May 24, 2013
Nowotny: Decision About Bad Bank for Hypo Not Essential Right Now
The Governor of Austrian’s National Bank confirms that the result for the ailing Hypo Group will not be “good” due to the losses that have amounted over the past years.
May 23, 2013
Slovenia: Fiscal Rule to Be Introduced in 2015
Prime Minister Bratusek announced her consent to introduce fiscal rule in 2015.
May 23, 2013
Poland: Hold on Tax to Attract Investors
Hydrocarbons tax on hold till 2020 to enhance investments in shale gas.
May 23, 2013
Austrian Top Banker to Appear in „Offshore-Leaks“
For the first time, a European top banker appears in the “Offshore-Leaks” database. CEO of Raiffeisen Bank International (RBI) Herbert Stepic is coming under massive pressure.
May 23, 2013
Austria: Special Commission to Trace Tax Evaders
Finance Minister Maria Fekter announced the establishing of a special commission which is supposed to use data distributed by the US tax authority.
May 23, 2013
Tusk Encouraged to Run for European Commission Presidency
Polish Prime Minister Tusk confirmed his encouragement, but will decide at another point in time.
May 23, 2013
Bulgaria to Table Bill of Amendments in Energy Sector
New regulations will be drafted when caretaker government leaves office.
May 23, 2013
Srei Group to Offer € 65.6m for Hypo
The Indian Srei Group offers € 65.5m for Austrian Hypo affiliate.
May 22, 2013
IMF Recommends Czech Government to Reduce Budget Cuts
With worse-than-expected current economic circumstances the IMF recommends the Czech Republic to moderate budget cuts.
May 22, 2013
Leitl: „EU Has To Deliver Clear Confession to Business Location Europe”
According to Leitl, the EU Summit has to deliver a “clear confession to business and industrial location” Europe.
May 22, 2013
Polish Government Passes Job Protection Law
On Tuesday, the Polish government adopted the Labor Minister's document on measures directed to protect employees and businesses during economic downturn, the government press office said.
May 22, 2013
Banking Secret until 2015 in European Union
The banking secret for tax foreigners in the European Union could finally be completely aborted by 2015. There is an ambiguity about Luxembourg’s position in advance to the EU mini-summit over the extended EU Savings Directive (EUSD).
May 22, 2013
Joint Nabucco-Declaration Signed by Governments
Austria, Hungary, Romania, Bulgaria, Turkey adopt Nabucco joint declaration.
May 22, 2013
Slovenia Taking Drastic Measures
NLB plans to cut workforce by 20 percent. The Slovenian government signed an agreement with unions to cut wage costs and is discussing to raise VAT. The country is hoping for € 1bn for the selling of state-owned enterprises.
May 22, 2013
Austria: Three Major Banks Have Made Their „Last Will“
Three Austrian banks have already made their „testament“. Erste Group, Raiffeisen and Bank Austria have presented plans for a possible restructuring. The plans are part of the future bank insolvency law.
May 22, 2013
World Economic Forum on East Asia 2013
Courageous transformation for inclusion and integration. Nay Pyi Taw, Myanmar, 5-7 June 2013.
May 21, 2013
Orban’s „Derailment“ Causes Indignation in Germany
Hungary’s head of government Viktor Orban seems to love the confrontation. However, with the accusation of Germany using Nazi-methods he overstepped the mark in terms of tact.
May 21, 2013
Croatia: Plans For Croatian Airlines’ Bankruptcy
The Croatian government has started planning in case of its national carrier declaring bankruptcy.
May 21, 2013
“Ukraine's European Choice Is Irrevocable”
The strong pro-European civil movement in Ukraine made the country’s European choice irrevocable, declared the head of the EU Delegation to Ukraine Jan Tombinski
May 21, 2013
Austria: Fekter’s Ambition to „Steer Hypo Group Into Safe Waters“
In the margin of the Council of Ministers, Finance Minister Maria Fekter announced that Austria will hand in the new restructuring plan for Hypo Alpe Adria Group to the EU Commission in the coming days.
May 21, 2013
Serbia Considering Loan Agreement With IMF
Serbia is considering discussing a possible IMF loan after EU entry talks are agreed on. German Finance Minister Guido Westerwelle announced his support in Serbia’s path to an EU membership.
May 21, 2013
Slovenia Hoping for Soon Recovery
Crisis-struck Slovenia intends to make more room financially by starting to privatize its state-owned banks. Experts regard the process to be carried out too slowly.
May 21, 2013
Petrom to Invest in Oil Field Redevelopment
OMV Petrom invests € 90m for the Oprisenesti oil field redevelopment.
May 21, 2013
Austria: Preliminary Results on Hypo Group Expected Next Week
Hypo Group’s task force, appointed by the government, will present the preliminary corner marks next week.
May 17, 2013
Croatia: PM Warns Of Croatia Airlines’ Downfall
Prime Minister Milanovic stresses the need to make changes to guarantee a future for the airline company.
May 17, 2013
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