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Hungary in Austria | Hungarians in Vienna | Bilateral Relations
Austria and Hungary - Read the latest headlines about bilateral relations in the areas of economy, business, investment, diplomacy, culture and tourism
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Rising Bankruptcy Fears in Eastern Europe
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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
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150 New Bank Austria Branches in Eastern Europe
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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
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RLB Burgenland’s Profits Increase
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Burgenland's regional bank recorded an operating profit of € 49m for 2010, which represents a slight improvement compared with 2009.
February 4, 2011
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Investments in Renewable Energies in the CEE are booming
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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
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Hungary: Calls for Boycotts against Foreign Companies in Hungary
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A Hungarian initiative demands that 13 foreign companies be boycotted, including Austrian OMV
January 18, 2011
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New Charges against Ruttenstorfer
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The chairman of Austria's OMV is accused of market manipulation because of an interview.
January 14, 2011
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CEE Economic Growth Forecast: 3.8% in 2011
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According to UniCredit, especially Turkey, Poland, Czech Republic and Estonia will bounce back impressively due to stronger industry and domestic demand.
January 13, 2011
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CEE: Raiffeisen Remains Optimistic
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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
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Satisfaction at CEE Stock Exchange Group
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The CEE Stock Exchange Group (CEESEG) looks back at a “busy and successful year 2010”.
January 5, 2011
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CEE Stocks to Climb by 20% in 2011
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Erste Group analysts recommend: stock picking rather than sector allocation. 2011 to be a positive year for equity investments.
January 5, 2011
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SW Umwelttechnik: New Orders Totalling € 6.5m
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OMS, the engineering company of the Austrian SW Group, won contracts in Hungary and Romania valuing a total of € 6.5m.
January 5, 2011
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Special Tax: Hungary Under Fire
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Especially the Austrian economy criticizes the Hungarian special tax on large companies. The EU Commission has already started an investigation.
January 4, 2011
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13 CEOs Call For Sanctions Against Hungary
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Because of the new taxes introduced by the Hungarian government, a group of prominent European CEOs call for EU-sanctions.
January 2, 2011
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Austria's Labor Market Opens
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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
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Garage Operator Company List Expands to Hungary
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The Vienna-based List Group, which acts as real estate company, acquired the Wipark Group in Hungary.
December 28, 2010
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Austrian-Hungarian Know-How for Macedonia
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The Hungarian and Austrian Stock Exchanges make their capital market know-how available to the Macedonian Stock Exchange.
December 21, 2010
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OeNB: Recovery of the Financial System in a Persistently Uncertain Environment
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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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Austrian Economic Chamber Supports Development of the Danube as a Transportation Route
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Austrian Economic Chamber President Christoph Leitl supports the EU's Danube region strategy to expand infrastructure between the Danube countries.
December 10, 2010
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A Las Vegas for Europe
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On the Austria-Hungarian border, the European “EuroVegas” gaming metropolis is to be built for € 5.0bn.
December 8, 2010
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Austria's Position in the CEE Region Shakes
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According to the Roland Berger consultancy agency, Austria receives not only competition in the CEE countries, but the importance of the region also decreases from a global viewpoint.
December 1, 2010
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Massive Lay Offs at Hypo Group
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The still ailing Carinthian bank restructures the leasing division. 500 jobs are being cut.
November 30, 2010
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ÖBB-CEO Kern Reconstructs Freight Division
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After the decisions made about personnel, Kern wants to make the freight division profitable again. The group’s CEO has accorded himself three years for the process.
November 26, 2010
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Warimpex Announces Results of Q1-Q3 2010
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Upward trend continues in the third quarter of 2010: Sales up by 21 percent.
November 17, 2010
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Erste Group: Job Reduction in Hungary
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The Austrian bank plans to cut 250 jobs in Hungary. Reasons are the bad loans and the introduction of the bank tax.
November 11, 2010
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Erste Group: CEE Companies More Efficient than Western Counterparts
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CEE companies are more efficient, more profitable and less indebted as Western companies. The German corporate sector is the only sector to compete with CEE companies.
November 10, 2010
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Raiffeisen CEO Stepic: CEE Continues Being Europe’s Growth Driver
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The boss of Raiffeisen Bank International Bank (RBI), Herbert Stepic, sees the CEE region continuing as long-term growth driver for Europe.
November 8, 2010
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Competition for Hungarian ÖBB Subsidiary
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Rail Cargo Hungaria (RCH) is still fighting for restructuring success. Meanwhile, a new competitor has appeared in the freight business.
November 5, 2010
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ÖBB: Alleged Corruption
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An internal document about a meeting of the ÖBB Supervisory Board in 2008 has now appeared. Bribes are openly talked about.
October 29, 2010
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Wienerberger Plans Full Takeover of Semmelrock International
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The purchase of the remaining 25% stake in Semmelrock International has been announced today. Wienerberger regards the acquisition as a “logical step”.
October 29, 2010
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Hungarian Railway Workers Strike Against Rail Cargo
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Due to employee layoffs at Rail Cargo Hungaria, the employees threaten to go on strike. Rail Cargo suffers losses both in Austria and in Hungary
October 27, 2010
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Bank Austria CEO Cernko: No More Bank Tax Soon
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Due to Basel III, location reasons and to safeguard jobs, the bank tax will only be effective temporarily, according to Cernko
October 22, 2010
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EVN's Subsidiary RAG Increased Gas Capacities
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New capacities are created, gas and oil exploration in Poland and Hungary to be intensified
October 17, 2010
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Coface CEE Top 500 - Poland Largest Number of Companies in CEE
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Poland has the largest number of companies in the Central and Eastern Europe Top 500 with 28.4%. Hungary ranks second with 16.6%, overtaking the Czech Republic, which is home for 13.8% of the CEE Top 500.
October 12, 2010
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Demmers Teehaus Seeks Entry into New CEE Markets
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The Austrian tea specialist Demmer, who is expanding into CEE with a franchising strategy, wants to enter new markets.
September 30, 2010
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CEE Real Estate: Outlook is brightening
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CEE real estate stocks are currently in a phase of brisk corporate action. Financially sound companies with attractive assets are interesting takeover targets, while other companies are being taken over.
September 27, 2010
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CEE Banking Sector Report: Still More Credit Losses in the East
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The number of bad loans is expected to increase considerably in some Eastern European countries, a Raiffeisen-analysis shows.
September 21, 2010
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Strabag acquires property und facility management service provider in the Czech Republic
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The acquisition of 100% of ECM Facility a.s., Prague garantes the number 5 position in property & facility management in the the Czech Republic.
September 20, 2010
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CEE Companies in a Turmoil
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According to a study by Deloitte, last year Eastern Europe’s top 500 companies showed a clear decline in sales.
September 14, 2010
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Horváth & Partners Study - CEE remains attractive
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A new study of the Horváth & Partners Management Consultants studied the success factors for setting up the subsidiaries of production sites in CEE.
September 8, 2010
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Raiffeisen Centrobank AG - Interim Financial Report released
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Raiffeisen Centrobank made the biggest contribution to the result of the group with a profit after tax of EUR 14.401 mn.
August 31, 2010
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Austrian Banks in Central, Eastern and Southeastern Europe
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According to a recent comparative study from the Austrian Central Bank (OeNB), the long-term commitment of Austrian banks in Central, Eastern and Southeastern Europe (CESEE) offers good prospects.
August 27, 2010
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Hungary gives bank tax its blessing
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The new Hungarian Prime Minister Viktor Orban will not abandon the highly controversial tax, as decided in Parliament.
July 22, 2010
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East-Europe Bank - "Hungary carries risks of infection"
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The proposed bank tax against the wishes of the IMF is not a good sign, says the head of the European Bank for Reconstruction and Development (EBRD).
July 20, 2010
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Hungary rejects additional austerity measures
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Hardened front between the Hungarian government on the one hand and the International Monetary Fund (IMF) and the EU on the other side: highly-indebted Hungary has ruled out further austerity measures.
July 19, 2010
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Hungarian burden for Austro-banks
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Raiffeisen International (RI) CEO Herbert Stepic expressed his concerns during a general conference.
July 9, 2010
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Hungary rejects amendments to bank levy
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At the start of negotiations with the International Monetary Fund (IMF), the Hungarian government ruled out an amendment of the introduction of the controversial bank tax.
July 7, 2010
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Nowotny strongly criticizes the Hungarian bank tax
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The Austrian central bank chief Ewald Nowotny has practiced unusually sharp criticism of the Hungarian government, more specifically at the proposed Hungarian bank tax.
June 30, 2010
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Hungary - Orbán's crusade has what it takes for an export success
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Viktor Orbán could have used his appearance at the IIF conference in Vienna to refurbish the image of his bankrupt government.
June 15, 2010
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Strabag to team up with Lafarage
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Strabag boss Hans Peter Haselsteiner said today his company wanted to protect itself from volatile cement market prices as the firm is set to cooperate with the cement production’s world market leader.
May 26, 2010
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Lafarge and Strabag to create a common company in cement in CEE
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Lafarge, the world leader in building materials, and STRABAG, Central and Eastern Europe´s largest construction company, are combining their cement activities in several countries of Central Europe.
May 25, 2010