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Hungary in Austria | Hungarians in Vienna | Bilateral Relations
Austria is Celebrating 60 Years of United Nations Membership in 2015
Austria became a member of the United Nations in 1955 and is celebrating 60 years of UN membership in 2015. 70 years ago, the United Nations were founded in San Francisco.
February 5, 2015
George Soros: "A New Policy to Rescue Ukraine"
Soros is calling on members of the European Union to behave as countries indirectly at war with Russia and to provide Ukraine with $50 billion to defend itself and kick-start political reforms. Russian President Vladimir Putin's imperial ambition has unintentionally brought into being a new Ukraine that is adamantly opposed to endemic corruption and inefficient government. By offering assistance, Europe can foster an open society in Ukraine and protect itself from Russian aggression.
January 22, 2015
Vienna Congress comsult 2015: "Power of Regions"
“Power of Regions“ is the topic of the Vienna Congress com•sult 2015 which is taking place today at Vienna's House of Industry. Distinguished participants from industry, politics and the business community such as F.W. de Klerk, Mohamed El Baradei, Author Benjamin R. Barber, Václav Klaus and Iain Begg are discussing the principle of regionality and its future in Europe.
January 20, 2015
Swiss Franc Soars as Currency Ceiling Discontinued
The Swiss franc has soared against the euro after Switzerland's central bank abandoned a ceiling it put in place a few years ago. Swiss franc loans in Austria make up more than 90 percent of the 25 billion euros in foreign-currency loans. Traders were stunned as the move was completely unexpected.
January 15, 2015
Ivica Dačić in Vienna: Serbia Takes Over OSCE Chairmanship from Switzerland
The new OSCE Chairperson, Serbia’s Foreign Minister Ivica Dacic, spoke today at the inaugural Permanent Council meeting of Serbia's OSCE Chairmanship Vienna. He revealed his Chairmanship priorities pledging to rebuild trust and confidence in the OSCE region of 57 participating states.
January 15, 2015
Carl Bildt: "The cohesion of the EU is the most important objective to achieve"
How Europe should react to the surrounding areas of conflict in East and South, was debated on Sunday. More realism, less idealism for the European Union is what Ivan Krastev, Fyodor Lukyanov, Carl Bildt and Ana Palacio concluded on Sunday at the Burgtheater in Vienna.
January 12, 2015
Lower Austria's Ecoplus International Celebrates 10 Years and 1500 Executed Projects
The EU's eastward enlargement brought Lower Austria into the center of a new, dynamic economic area. In order to make use of the chances which emerged for the lower Austrian economy, Ecoplus International GmbH in cooperation with the Raiffeisenlandesbank Niederösterreich-Wien was set up. 10 years later the subsidiary has already overseen 1500 projects.
October 16, 2014
CEE Sovereign Bond Market Among Best Investment Destinations in Europe
The CEE sovereign bonds are among the best investments in Europe this year. High returns and low volatility increase investor appeal. The CEE sovereign bond market is 5th largest in continental Europe. Romania emerges as CEE regional champion among local currency bonds.
October 2, 2014
RBI Revises Expected Provisioning Requirement
Vienna based Raiffeisen Bank International AG (RBI) has revised its outlook for the net provisioning requirement for the current financial year to between EUR 1,500 and EUR 1,700 million, primarily due to higher expected risk costs in Ukraine in light of ongoing political tensions in the region.
September 23, 2014
Business Indicator: Growing Geopolitical Uncertainty Levels the Economic Outlook Down
Bank Austria has published its latest "Business Indicator" on the Austrian economy. The analysts of Bank Austria believe, that after a weak first six months, the economic recovery continues to find it difficult to get out of the starting blocks. The growing uncertainty fuelled by the Russia-Ukraine crisis was reflected in another decline for Bank Austria’s Business Indicator in August. The indicator has been trending downwards slightly for half a year, and now sits at its lowest point since last summer of just 0.2 points.
September 18, 2014
Voestalpine to Supply Linepipe Plates for the Second South Stream Pipeline
This year sees the voestalpine Group securing its third major contract in the pipeline business. Following the first, now completed, contract for the Russian-European pipeline project South Stream, and for Rota 3, a pipeline project in Brazil, voestalpine will deliver 120,000 tons of sour-gas-resistant, high-strength linepipe plates for the second South Stream pipeline by spring 2015. The South Stream contract is not affected by sanctions. Further negotiations are also currently underway concerning extremely challenging pipeline projects.
September 5, 2014
Mid Europa Partners' New Fund to Invest EUR 800 Mln in CEE
Mid Europa Partners, the British private equity firm focused on buyouts in Central & Eastern Europe, announced the final closing of Mid Europa Fund IV at €800 million, complemented by an additional pre-allocated co-investment program of €650 million. Fund IV represents the largest dedicated fund to the CEE Region raised in the last 5 years.
September 5, 2014
Poland's Donald Tusk to Become European Council President
Current council president Herman Van Rompuy tweeted the announcement from the EU summit. Mr Tusk, Poland's centre-right prime minister since 2007, will become the European Council's president. Italy's Federica Mogherini, a centre-left politician and foreign minister will replace the UK's Catherine Ashton as EU foreign policy chief.
August 30, 2014
Russia Orders Agricultural Import Bans in Sanction Retaliation
Vladimir Putin signed a decree limiting or banning imports of agricultural products from countries which have imposed sanctions on Russia, the Kremlin's press service announced. It is estimated that following CEE/SEE countries will be hit by the retaliatory sanctions: Romania, Serbia, Hungary, Poland, Slovakia, Czech Republic, Slovenia, Bulgaria, Ukraine, Brussels, Croatia, Estonia, Latvia and Lithuania.
August 6, 2014
Analysis: Russia - Assessment of EU and Tightened US Sanctions
Special analysis covering the most recent escalation in terms of Western economic and financial sanctions against Russia: EU and US sending bold diplomatic signals without inflicting too much near-term economic and financial damage. In comparison to the US sanctions by the EU are capped in duration. Recent escalation adds to uncertainty in doing business with Russia, which is an ultimate goal of sanctions. Near-term impact of current sanctions still limited, which implies a risk that they may remain for longer.
July 31, 2014
Austrian FDI: Current Developments 1Q 2014
In the first quarter of 2014, Austrian FDI abroad reached a value of 2.8 billion euros, which is less by about 30% than in the same period of 2013. Foreign direct investments in the same period into Austria stood at 1.4 billion euros. This is about 37% less than in the same period of last year.
July 29, 2014
Cost of Living Rankings: CEE Capitals Cheaper, Vienna is 32nd Most Expensive City
The Mercer's 2014 Cost of Living Rankings have been published and cover 211 cities across five continents. While Western European cities have all risen in the rankings mainly due to the strengthening of the Euro against the US dollar, most cities in Central and Eastern Europe (CEE), however have fallen in the ranking as a result of local currencies depreciating against the US dollar. Bratislava (#84), Prague (#92), Kiev (#98), Ljubljana (#116), Zagreb (#120), Budapest (#135), Warsaw (#142), Belgrade (#184).
July 25, 2014
FDI in Austria up by EUR 25 Million
In the first half of 2014 the number of international companies setting up business operations in Austria with the assistance of ABA in cooperation with the regional investment promotion agencies climbed from 88 to 114. Total investment volume was up 15.9 % in the first half of 2014 to EUR 179.97 million from EUR 154.33 million in the prior year period.
July 11, 2014
Analysis: The South Stream Gas Pipeline
Due to the signing of the South Stream agreement between OMV and Gazprom for the Austrian part of the pipeline during Putin's visit to Vienna, we take a look at the background of the project.
June 25, 2014
Forecast for CESEE Countries (Webinar)
Central, Eastern and Southeastern Europe (CESEE) have been strongly affected by the economic crisis. However now there are signs of an improving economic climate and growth rates will again be above the EU average. The current situation in the Ukraine and potential difficulties between the EU and Russia constitute a downside risk.
June 24, 2014
CEE-Initiative: Strengthening Investment Fund Business in Central- and Eastern Europe (CEE)
The Hungarian association BAMOSZ and the Austrian association VÖIG initiated a closer collaboration and tighter co-operation between fund associations in CEE, the so-called „CEE Initiative“. The member associations of the „CEE Initiative“ are (in alphabetical order): Austria, Bulgaria, Croatia, Czech Republic, Greece, Hungary, Poland, Romania, Slovakia, Slovenia and Ukraine.
June 16, 2014
TTIP-Myths and Realities According to AmCham Austria
The American Chamber of Commerce in Austria (AmCham Austria) promotes the expansion and strengthening of trade and commerce relations between Austria and the US. Talks on a future EU-US trade deal started in July 2013 and are set to continue throughout 2014. The talks are part of a trade and investment deal, known as the Transatlantic Trade and Investment Partnership, or TTIP.
June 3, 2014
Austria: Western Balkans Representatives are Meeting in Vienna
The Western Balkans Conference and the Central European Initiative (CEI) Ministerial Meeting are currently discussing questions regarding the EU enlargement, the role of the EU as a peace project and the economic situation in the Western Balkans.
June 3, 2014
BSH Vienna is Partially Taken Over by German BSH Group
With the goal of strengthening its international market presence, the TROX Group acquired parts of BSH Group.
May 31, 2014
Switzerland: IMD Releases the World Competitiveness Yearbook Ranking 2014
The US leads, Europe recovers, and big emerging markets struggle.
May 22, 2014
Austrian Oberbank Shines in Hungary
Austrian Oberbank bucks the trend of terminating business activity in Hungary. Instead, the financial institute plans on growing in one of the most difficult markets in Europe.
May 22, 2014
Austrian Prinzhorn Holding to Invest Massively in Hungary
Prinzhorn Holding will build its own power plant in Hungary to supply its paper factory in Dunaujvaros.
May 21, 2014
S IMMO AG: Offer to Exchange S IMMO INVEST Participating Certificates to Open Tomorrow
Vienna based real-estate developing Company S Immo AG announces its offer to exchange S IMMO INVEST participating certificates for bonds.
May 20, 2014
Exporttag: Meet All Austrian Trade Delegates at the Export Day 2014
On June 24, the Export Day (Exporttag) of the Austrian Chamber of Commerce (WKO) will take place in Vienna. Economic delegates from all over the world will be present.
May 20, 2014
Journalism Prize “Writing for CEE 2014” Inviting Submissions
Journalists from all over Europe are invited to submit entries.
May 19, 2014
Czech Republic: Rosatom to Complete Temelin?
Russian State Atomic Energy Corporation Rosatom presented an offer to complete the units of the Czech nuclear power plant Temelin.
May 12, 2014
MOL Group Acquires 208 Filling Stations in Three CEE Countries
MOL Group’s retail network grows to almost 2,000 service stations across 11 countries. The Group’s market presence expands significantly in the Czech Republic, Slovakia and Romania. Retail network expansion further strengthens MOL Group’s role in CEE.
May 9, 2014
German Retailer Metro Faces Massive Losses in CEE
Sales in CEE declined 14.8 percent last year for German retail and wholesale enterprise Metro Group.
May 9, 2014
Michelin to Downsize in Hungary
French tyre producer Michelin announced to shut down ist tyre plant in Budapest and relocate to Romania.
May 9, 2014
MOL: Oil Supply to Hungary not Endangered
According to Hungarian oil and gas enterprise MOL, the supply to Hungary is not endangered by the delivery stop of Russian oild products passing through Ukraine.
May 9, 2014
Calls for European Energy Union Become Louder
Polish PM Tusk called for a European energy union. His Hungarian counterpart supports the idea.
May 9, 2014
Austria DIY Chain BauMax Avoided Insolvency
Austrian leading DIY chain bauMax announced cost saving programs as part of its restructuring measures in Turkey, Romania, Bulgaria and Croatia. BauMax intends to focus on profitable business locations only.
May 9, 2014
EU Enlargement: A Success Story for Central Europe
Austria is one of the main beneficiaries of the EU enlargement of 2004.
April 30, 2014
Raiffeisen Bank International AG - SWOT Analysis & Company Report May 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.
April 25, 2014
„Brussels Must Reconsider Enlargement Policy“
Austrian Minister of Foreign Affairs Sebastian Kurz criticized the EU´s approach towards Ukraine. However, the EU has to develop further.
April 25, 2014
Erste Group Bank AG: Full Year 2013 Company Report has been Published by FriedlResearch
Published in April 2014, this report contains in depth information and data about Erste Group and its operations and markets. It contains a company overview, business and strategy description, financial ratios, valuation & forecasts, plus a SWOT analysis.
April 15, 2014
Erste Group to be Relocated to the Czech Republic?
CEO of Erste Group, Andreas Treichl, has informed Czech President Milos Zeman about the bank’s intention to move to Prague in the coming years.
April 9, 2014
Hungarian Electorial Law Supports Major Parties
Orban is the clear winner of the parliamentary elections in Hungary. He stressed that there are no more conflicts with the EU than any other member state had.
April 7, 2014
RBI to Shut Down Affiliates on Crimea
The Ukrainian affiliate of Raffeisen Bank International (RBI) is closing all its affiliate on Crimea until mid-April.
April 7, 2014
Hungary: Clear Victory for Orban
Today, Hungary has held parliamentary elections. Despite controversial and radical reforms, Prime Minister Orban was confirmed.
April 6, 2014
Hungary: Orban Faces Re-Election
Tomorrow, Sunday, Hungary holds national elections. Despite the difficult economic frame conditions in Hungary, the centre-right government is expected to be confirmed for the next four years.
April 5, 2014
Hungary: Fidesz Considered Winners of Elections
The governing party Fidesz under Prime Minister Viktor Orban is expected to become the clear winner of the parliamentary elections on Sunday.
April 3, 2014
Hungary: OTP Approaches Acquisition of MKB
MKB, the Hungarian loss-making affiliate of German regional lender BayernLB, is approaching its acquisition by the biggest lender OTP.
April 3, 2014
Oberbank: Slow Expansion Strategy to be Continued
The Austrian regional bank starts to enter the stage in two German states. The net income has reached a new record level.
April 2, 2014
Hungary Receives € 10bn Loan from Russia
Hungary´s government has signed a loan agreement with Russia. Budapest wants to finance the enlargement of the Paks nuclear power plant.
April 2, 2014
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