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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
Hungary Amending Figures of Budget Deficit
Hungarian Finance and Economy Minister Mihaly Varga announced that the budget deficit of 2013 will be below the target after it was lowered dramatically.
January 8, 2014
Growing Evidence for RBI’s Withdrawal from Hungary
According to media reports, Hungarian partly nationalized Szechenyi Commercial Bank has placed an offer for the take-over of RBI’s Hungarian affiliate.
January 7, 2014
Hungary: Erste Group Confident
The third-largest lender in CESEE underlined that the Hungarian subsidiary will not be sold. The Austrian bank is confident to reach the turnaround soon.
January 6, 2014
First Offer for RBI´s Hungarian Subsidiary
The partly nationalized Hungarian lender Szechenyi Bank is interested in the Hungarian subsidiaries of the Austrian banks Erste Group and Raiffeisen Bank International.
January 6, 2014
Erste Group Bank AG - SWOT Analysis & Company Report
This new report contains in depth information and data about Erste Group and its operations and markets. It contains an overview, business and strategy description, financial ratios, valuation & forecast data, SWOT analysis, plus data on key events.
January 6, 2014
Raiffeisen Bank International AG - SWOT Analysis & Company Report 2014
This new report contains in depth information and data about Raiffeisen Bank International AG and its operations and markets. It contains an overview, business and strategy description, financial ratios, valuation & forecast data and a SWOT analysis.
January 6, 2014
Southeastern Europe Endangered of Civil Unrests
According to the Economist Intelligence Unit, several CESEE countries may face civil unrests in 2014. In particular, Southeastern Europe is in the danger zone.
January 4, 2014
Hungary: MKB Bank Sells Romanian Subsidiary
As announced in a statement Hungarian MKB Bank has sold its entire stake of its Romanian subsidiary.
January 3, 2014
CEE: Economic Sentiment Cautiously Optimistic
The economic sentiment for Eastern European countries is becoming more optimistic, however, only cautiously. Poland is on top of the list of economists at JP Morgan.
January 2, 2014
Hungary: Best Economic Outlook since 2002
After the country had left the double-dip recession, the Hungarian economic sentiment index has reached the highest level in more than 11 years. Nevertheless, the country still has to manage number of fundamental risks.
December 28, 2013
AXA Leaves Hungary
Austrian Vienna Insurance Group takes over 100% of AXA Hungary.
December 27, 2013
„CESEE No Driver Yet“
Birgit Kuras, CEO of Vienna Stock Exchange, thinks that the Vienna Stock Exchange is highly influenced by the CESEE operations of listed companies.
December 23, 2013
Hungary: Positive Outlook, Negative Frame Conditions
In the short term, Hungary´s economy will accelerate. However, it is still uncertain whether the country achieves a sustainable return to growth.
December 21, 2013
CESEE: Dependence on Foreign Demand Remains Main Obstacle
In 2014, Central, Eastern and Southeastern Europe (CESEE) faces a slight upward trend. The structural difficulties persist, however.
December 21, 2013
Stable Outlook for CESEE Banking Industry
According to the U.S. rating agency fitch, the sector outlook remains stable in Central, Eastern and Southeastern Europe. However, the well-known risks and weaknesses will persist.
December 19, 2013
CESEE: Potential to Return to Pre-Crisis Growth
According to a report published by the business adviser McKinsey, countries of Central, Eastern and Southeastern Europe are fundamentally strong.
December 18, 2013
Hungary: Slower Monetary Cuts
After another base rate cut, the next monetary steps will take more time.
December 18, 2013
CESEE: More Robust than in 2008
The U.S. Federal Reserve wants to reduce its easing policy gradually. For emerging markets, the end of the loose monetary policy may prove challenging.
December 17, 2013
Hungary: Good News for Banks in Forex Proceedings
Banks operating in Hungary can feel relieved by the Supreme Court’s judgement.
December 16, 2013
MNB Replaces Hungarian Banking Industry
In order to push economic growth rates, Hungary´s National Bank continues to support the subsidized loan program. The support should help to boost the construction of real estate.
December 14, 2013
Emerging Markets Face Decrease in Risk Appetite
Foreign investors become more and more cautious about investing in emerging markets. Regions like Central, Eastern and Southeastern Europe are highly dependent on foreign sentiments.
December 14, 2013
BayernLB to Keep Hungarian MKB Unit
BayernLB’s plans to seperate from loss-making Hungarian affiliate MKB were not put on hold. Instead, the German bank wants to continue to push forward with austerity measures and cut jobs.
December 14, 2013
Croatia: Erste Offer Rejected
Austrian Erste Group intended to aquire Croatian HPB. However, the offer was rejected by the Finance Ministry as the purchase price was considered too low.
December 13, 2013
Austrian GDP per Capita Second-Highest in EU
In terms of GDP per capita, Austria is the second-richest EU country.
December 12, 2013
Hungary: Stable Outlook Yet Still Junk Status
In spite of Matolcsy, governor of the Hungarian National Bank (MNB), demanding a better rating for the country’s credibility, the major rating agencies have not raised them.
December 12, 2013
Austrian Banking Industry Depends on Russia and Czech Republic
For the Austrian banking sector, the CESEE region is highly heterogeneous. In the first six months of 2013, net earnings totaled € 1.4bn in the region.
December 12, 2013
Ten Capital Market Themes for 2014 by Raiffeisenbank
Leading indicators show a recovery of global growth.
December 11, 2013
Improving Situation for Banks in CEE
Raiffeisen analysis getting a notch more optimistic on CEE banks.
December 10, 2013
EU/CESEE: Real Income Shrinks
In 2013, the real income will do down in Austria. Since 2010, the Austrian real income was down by 1.3%. In Hungary, real income fell by 15% in that period.
December 9, 2013
OTP Interested in MKB
Sandor Csanyi, CEO of the largest Hungrian lender OTP, considers taking over the rival MKB.
December 9, 2013
Austrian Banking Sector: € 35bn NPL
Due to the gloomy economic situation in CESEE and the stagnating domestic economy, Austrian banks suffer from growing non-performing loans.
December 9, 2013
Major Changes in Hungarian Banking Industry Ahead
The Hungarian government comes closer to its objective. Foreign banks are leaving the country step by step.
December 7, 2013
Economic Recovery in CESEE Supported by Exports
According to the GDP data for some Central and South Eastern European countries published today, economic recovery was backed by a strong increase in export activity.
December 5, 2013
RZB Faces Severe Restructuring Measures
The Raiffeisen Zentralbank (RZB) is facing severe restructuring and downsizing measures as it has to cut the number of employees.
December 4, 2013
UniCredit: Withdrawal from Hungary as Potential Option
UniCredit does not completely rule out a withdrawal from the Hungarian market in case further burdens will be imposed on banking institutes.
December 4, 2013
Hungary: Matolcsy Demands Resignation of EU Commissioner
György Matolcsy, Governor of the Hungarian National Bank (MNB), demands a better rating for Hungary and the resignation of EU Commissioner Olli Rehn.
December 2, 2013
Hungary: Economic Acceleration Takes Form
According to French BNP, the Hungarian economy starts to grow again. Nevertheless, the banking industry does not face better times yet.
November 29, 2013
Sevelda: „We Are Close to the Breaking Point“
In a guest comment published by the Austrian business magazine Format, CEO of Raiffeisen Bank International Karl Sevelda refers to the high burden for Austrian banks.
November 29, 2013
CESEE: Slight Growth Acceleration, but Uncertainties Persist
The Vienna Institute for International Economic Studies (wiiw) has published the economic forecast for the CESEE region today. The economic performance varies substantially from country to country.
November 28, 2013
Hungarian Parliament Resolves 2014 Budget
Hungary´s scheduled budget deficit in 2014 comes at 2.9% of the GDP. Economists are in doubt whether the deficit will be achieved.
November 27, 2013
RBI Faces Austerity Measures.
Raiffeisen Bank International (RBI) does not take into consideration capital increase.
November 27, 2013
Hungary: Monetary Policy Eases Further
Today, Hungary´s National Bank (MNB) has cut the two-week deposit rate to 3.2% from 3.4%. The government is optimistic that the monetary easing will help Hungary´s economy.
November 26, 2013
CESEE: Austrian Banks Face New Challenges
For Austrian banks, the assessment by the ECB may bring new difficulties. Non-performing loans in CESEE are said to be higher than officially known.
November 26, 2013
Hungary. Forex Loans Probed by Supreme Court
Due to the upcoming elections in 2014, Hungary´s government puts pressure on the Supreme Court.
November 25, 2013
Wide Parts of CESEE Region Below Pre-Crisis Level
In terms of economic output, a large number of CESEE countries have not reached the level of 2008 yet. The growth outlook remains cautious.
November 25, 2013
Hungary: Further Cuts to Come
György Matolcsy, governor of the Hungarian National Bank MNB, stresses that there is room for further base rate cuts.
November 21, 2013
RBI: Fresh Money for Slovenian Subsidiary
Raiffeisen Bank International, the third biggest lender in CESEE, injects € 10m into the Slovenian subsidiary.
November 21, 2013
Hungary: Banks Penalized for Lobbying
The Hungarian competition authority GVH has imposed a penalty running in the millions on domestic and foreign banks.
November 20, 2013
Raiffeisen Bank International: Sale of Hungarian Affiliate No Taboo Anymore
As reported by Vindobona, Vienna-listed RBI is examining offers for the Hungarian subsidiary. For RBI, Hungary is the biggest loss-maker.
November 20, 2013
Austria: High Tax Country
According to the new tax report of PrinceWaterhouseCoopers (PwC), the tax burden in Austria is ten percent higher than the average tax rate in the European Union and even beats Sweden.
November 19, 2013
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