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Read updated news about key executives in Vienna's international community


Nowotny Attacks EBA

The Governor of the Austrian Central Bank (OeNB), Ewald Nowotny, criticizes the high speed which EBA requires from banks to build up equity capital.
December 9, 2011


AUA to Strengthen Presence in Austria

Austrian Airlines, the subsidiary of the German Lufthansa, refocuses on the Austrian home market. Flights to provincial airports should be extended.
December 8, 2011


Kaufhof: Benko Offering € 2bn?

The Austrian investor decisively rejected reports that suggested this acquisition price. Metro’s CEO wants to obtain € 2-3bn.
December 8, 2011


Rating Agencies Are Seen As Threat

The governor of the Austrian Central Bank, Ewald Nowotny, attacks S&P. For the head of the economic research institute IHS, Bernhard Felderer, the negative outlook must be seen as a warning signal.
December 7, 2011


„Debt Brake“: Critcism Against Opposition

After the “debt brake” has failed, the President of the Chamber of Commerce Christoph Leitl, Finance Minister Fekter and the Federal President Fischer criticize the three opposition parties.
December 6, 2011


Immofinanz-CEO Zehetner Expects Reduced Finance Costs

Due to lower interest rates and depreciations of foreign currencies in the CEE region, the Austrian real estate company will have low refinance costs, Zehenter says.
December 5, 2011


Opposition Not Convinced: „Debt Brake“ Fails

The Austrian government´s plans to introduce a “debt brake” in the constitution has failed. The three opposition parties are against the idea.
December 5, 2011


Kaufhof: Benko Is Preferred

According to the seller, the German Metro Group, the Austrian real estate investor has good odds. Benko will submit a binding offer soon.
December 5, 2011


Ambitious Restructuring Plans for S&T

After serious troubles in 2010 and 2011, the Viennese software consulter should leave the red zone next year. The new CEO, Hannes Niederhauser, is cautiously optimistic.
December 5, 2011


Up to 3.36% Salary Increase for Civil Servants

Salaries for Austrian civil servants will increase by 2.68% to 3.36%. The government and the union came to an agreement on Sunday.
December 5, 2011


Austrian Industry Supports Audit Court

For the Federation of Austrian Industries (IV), the administration has to be reformed immediately. Future investments are needed instead of administrative expenses.
December 5, 2011


UK Court Freezes Assets of Kohn

A British judge froze funds of 27m pounds (€ 31.4m) of the Austrian former investment banker Sonja Kohn, who is accused to have participated in Bernard Madoff´s frauds.
December 3, 2011


OMV Raises Oil Production in Libya

The Austrian oil and gas company OMV receives already about 50% of the pre-war volume. However, a full recovery will need another twelve months.
December 3, 2011


Porr Considers Capital Increase

In order to realize further growth, the owners of the second-largest Austrian construction company plan to raise the equity base.
December 3, 2011


Wiedeking Joins Benko’s Signa Holding

The German manager becomes a member of the Austrian real estate group’s advisory board.
November 30, 2011


Management Board Salaries Increased by 13.2% in 2010

Salaries for a company’s board members totaled € 3.4m, while compensations for supervisory board members amounted to € 182,000 on average.
November 29, 2011


Austrian Post Intends to Grow through Acquisitions

CEO Georg Pölzl wants to invest € 100m in Eastern and Western European markets. The dividend might be raised to € 1.65 per share.
November 29, 2011


Austria to Pay for Failing Kyoto

By 2014, Austria will have to pay penalties because of the missed Kyoto targets. Payments could amount up to € 1.0bn.
November 28, 2011


Benko Puts Pressure on Kaufhof

The Austrian real estate investor René Benko presents his growth program and wants to outbid his rival, the U.S. investor Berggruen.
November 28, 2011


Austrian Tourism Industry is Cautiously Optimistc

The Austrian Minister of Economic, Reinhold Mitterlehner considers that the tourism industry has learned to deal with an economic crisis.
November 28, 2011


Civil Servants Claim 3.9% Salary Increase

Negotiatons between the Austrian government and the trade union for civil servants did not bring an agreement.
November 26, 2011


Investigations Against Benko

The Austrian real estate investor Benko is suspected for money laundering. Benko denies and sees a link to the Kaufhof-deal.
November 26, 2011


Treichl to be Confirmed as CEO

Erste Group´s CEO Andreas Treichl will extend his function at the Austrian major bank.
November 26, 2011


Austrian Government Pushes for Further Austerity Measures

The Minister of Finance, Maria Fekter, did not exclude an austerity package. First effects should be seen already in 2012. However, it is not clear yet if economic forecasts for the next year will hold.
November 26, 2011


Pecik Now Owns 15% in Telekom Austria

The Austrian investor has bought additional shares in the telecommunication group, making him the second largest shareholder.
November 25, 2011


Financial Market Authority Terminates Inquiry Against CEO of Erste Group

The head of the Austrian bank group had been accused of balance sheed fraud. A second investigation for alleged market manipulation is still ongoing.
November 24, 2011


FCC Acquires Remaining Shares in Alpine

Supervisory board chairman Aluta-Oltyan will sell his 20% stake in Austria’s second largest construction company to the Spanish majority owner.
November 23, 2011


Leitl Promotes Exports to BRICS-Countries

The President of the Austrian Chamber of Commerce, Christoph Leitl, wants the exporting industries to focus more on Brazil, Russia, India, China and South Africa.
November 22, 2011


Fekter Optimistic to Hold AAA-Rating

Austria's Finance Minister expressed confidence on Tuesday that the country would hold on to its AAA sovereign rating.
November 22, 2011


Austrian Minister of Economics Criticizes Hungary

On the occasion of a bilateral meeting between the Hungarian and the Austrian Minister of Economics Reinhold Mitterlehner repeated his critics regarding Hungarian foreign currency loans.
November 21, 2011


A-Tec: Investigations Against Kovats

Investigations by the Austrian Public Prosecution Authority against the CEO of A-Tec, Mirko Kovats, proceed. The suspicions are massive.
November 19, 2011


Voestalpine Cuts Production

For the Austrian steel producer, the upward trend is now over. Steel production will be reduced by 10% in the last quarter.
November 19, 2011


Felderer Pleads for Pay Freeze for Civil Servants

The head of the Austrian Institute of Advanced Studies (IHS), Bernhard Felderer, suggests to stop the salary increase for civil servants next year.
November 19, 2011


Jobs to be Cut at Bank Austria

After the announcement of high write-offs yesterday, the Austrian subsidiary of UniCredit will reduce its staff from 10,800 to 10,000 by 2015.
November 15, 2011


Sharp Criticism Against Felderer

The head of the Viennese Chamber of Labor, Werner Muhm, attacks the director of IHS, Bernhard Felderer. His economic forecast is “propaganda of fear”.
November 12, 2011


Spindelegger: Cost Cuts and Privatizations to Save Triple-A

Annual interest payments would grow by € 3bn if Austria was downgraded by one notch.
November 11, 2011


Changes in the Board of Budapest Stock Exchange

Michael Buhl takes over as CEO in addition to his functions at the Vienna Stock Exchange and the CEE Stock Exchange Group.
November 11, 2011


Felderer: “Austria’s Triple-A at Risk”

The head of the IHS warns against a spillover of the Italian crisis and calls for a national debt brake.
November 9, 2011


Lauda Leaves FlyNiki

Niki Lauda, founder of the Austrian Airline FlyNiki, sells his 50.1% stake to the German Air Berlin.
November 8, 2011


Federal Railways: Debt Burden € 15.2bn

The Austrian Minister of Infrastructure, Doris Bures, announced the amount of debt for Austrian Federal Railways and Asfinag.
November 5, 2011


Kovats Complains against Court Order

A-Tec’s outgoing CEO challenges a court decision as he sees an infringement of his property rights.
November 3, 2011


Erich Hampel New Chairman of Bank Austria’s Supervisory Board

The Austrian succeeds Paolo Fiorentino who will remain on the board as deputy chairman.
November 3, 2011


No Nationalization of Austrian Banks

The head of the Austrian bank holding company Fimbag, Klaus Liebscher, believes that Austrian major banks do not need further capital provided by the state.
November 2, 2011


Austria Intensifies Economic Relations to Serbia

The President of the Viennese Chamber of Economics, Brigitte Jank, meets Serbian Ministers in Belgrade and sees a huge potential for Austrian companies.
November 2, 2011


Austrian Trade With China to Double

On the occasion of the state visit of the Chinese President Hu Jintao, the Austrian Minister of Economics stated to aim a deepening of the bilateral economic relations.
November 1, 2011


Raiffeisen: „Do Not Need State Capital“

Walter Rothensteiner, CEO of the Austrian RZB, intends not to sell shares in order to raise the equity base.
November 1, 2011


Nationalization of Banks Not Excluded Anymore

According to the Minister of Economics, Reinhold Mitterlehner, in the worst case scenario a partly nationalization of banks could take place.
October 31, 2011


Nowotny Expects Lower Growth Rates

The head of the Austrian Central Bank (OeNB) Ewald Nowotny lowers the growth estimation for the Austrian economy.
October 31, 2011


State Visit: Hu Jintao in Austria

The Chinese President Hu Jintao arrived in Austria. Today the official meetings with the Austrian President Heinz Fischer and the Government will take place.
October 31, 2011


Erste Group´s CEO Wants to Avoid Further State Aid

Andreas Treichl, CEO of the Austrian major bank Erste Group, wants to prevent a further influence of the Austrian state.
October 29, 2011