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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
IMF-Loan: Orban Demonstrates Optimism
According to Hungary´s Prime Minister Viktor Orban, the negotiations with IMF are proceeding on schedule.
September 18, 2012
Strong Increase in Hourly Labor Costs in Hungary and Romania
Second quarter 2012 compared with second quarter 2011: Euro area hourly labour costs rose by 1.6% and by 1.8% in EU27.
September 17, 2012
Hungary Becomes Tax Haven for Czech and Slovak Enterprises
In the last three years, the number of Czech enterprises with head office in Hungary was up by 41%.
September 15, 2012
Hungarian Central Bank Call for Growth Stimulating Measures
In August, the Hungarian Central Bank cut the base rate by 0.25 percentage points. According to the Council, growth should be supported.
September 15, 2012
Hungarian Central Bank Against Bank Taxes
According to the governor of Hungary´s Central Bank, the bank taxes are causing the lending freeze.
September 14, 2012
Infringement Proceedings Against Hungary?
The Commission of the European Union is said to start infringement proceedings against Hungary because of the introduction of financial transaction taxes.
September 13, 2012
Spar Records Losses in Hungary
The Austrian retail chain operates 400 branches in Hungary. The economic crisis caused substantial losses.
September 13, 2012
Hungary: Difficult Negotiations with IMF
The relation between Hungary´s Prime Minister and IMF is chronically tensioned. Another delay of the conclusions of the negotiations is likely.
September 12, 2012
Orban to Visit Germany
In October, Hungary´s Prime Minister will be on an official state visit in Berlin in October.
September 12, 2012
INA Underlines Interest in OMV´s Petrol Stations
The Croatian oil group wants to take over the petrol station business of Austrian OMV in Croatia and Bosnia.
September 12, 2012
Hungary: Bank Tax Intake Lower than Expected
The bank tax proceeds only reach 40% of the planned volume.
September 10, 2012
Hungary: Orban Rejects IMF´s Conditions
This week, a list containing IMF´s conditions for a € 15bn loan became public. However, it is not known whether the list is a counterfeit. Not at this price and not in this way.” Hungary´s Prime Minister Viktor Orban said.
September 8, 2012
Takeover of OMV´s Petrol Stations: INA Faces Legal Restrictions
The Austrian OMV Group plans to withdraw from Croatia and Bosnia. The Croatian subsidiary of MOL is interest in OMV´s petrol stations, but may face legal restrictions from a competition law point of view.
September 7, 2012
IMF: List of Demands against Hungary Became Public
The list contains demands of the IMF against Hungary and is the precondition for the safety loan of € 20bn. However, the list could be a counterfeit.
September 7, 2012
New Airline for Hungary?
After the insolvency of Malev in March 2012, the Hungarian government is said to promote a new airline.
September 6, 2012
Agrana Launches 2012 Fall Campaigns
This year, the Austrian sugar and starch company expects lower yields.
September 6, 2012
Croatian INA Submits Offer to OMV
Austrian OMV sells its petrol station business in Croatia and Bosnia. The Croatian subsidiary of Hungarian MOL has submitted a binding offer.
September 5, 2012
Oberbank to Expand in Hungary
The Austrian regional banks plans to open new branches in Hungary
September 5, 2012
Hungary: Foreign Direct Investments Declining
Against the reference period of 2011, investments in Hungary were down by 6%.
September 3, 2012
Further Increase in Unemployment
At the end of August 2012, 289,000 persons were looking for a job in Austria. At the same time, employment still grows.
September 3, 2012
Hungary to Nationalize Energy Industry
Viktor Orban´s government plans to acquire the Hungarian subsidiary of German eon.
August 29, 2012
Hungary: Debt Crisis in Private Sector Unsolved
Despite the conversion of foreign currency loans, the number of non-performing loans is growing rapidly. According to analysts, the outlook is bad.
August 29, 2012
Goldman Sachs Lowers Expectations for Austrian Banks
The U.S. investment bank anticipates decreasing earnings.
August 27, 2012
Orban Underlines Success of Hungarian Crisis Management
Hungary´s Prime Minister Viktor Orban wants to lower the public debt quota further. Hungary´s recession would be due to the weak Eurozone, he says. Orban forgot to mention some details, however.
August 24, 2012
VIG Aims to Expand in Poland
Vienna Insurance Group is interested in the Polish subsidiaries of ING and Aviva. However, there are no sales plans yet.
August 23, 2012
VIG to Grow in Hungary
Vienna Insurance Group intends to expand into Hungary. The Eastern neighbor country is the favorite growth market, the Austrian insurance group said.
August 22, 2012
Nokia Moves from Vienna to Budapest
The Finnish cell-phone company regroups and shifts its sub-headquarters for the CEE region from Austria to Hungary.
August 20, 2012
Daimler Said to Double Production in Hungary
The Germany automobile producer may enlarge its production facilities in Hungary massively.
August 20, 2012
South Stream Pipeline May Run Across Croatia
Instead of Hungary, the pipeline project South Stream may pass through Croatia. Gazprom currently negotiates with the Croatian operator Plinacro.
August 20, 2012
Hungary´s Public Debt Decreasing
Due to the weak euro, Hungary´s public debt quota decreased by 1.3% percentage points within only one quarter.
August 20, 2012
Hungary Faces Recession Again
In the second quarter of 2012, Hungary´s GDP was dwon by 0.2%. The decrease in exports is the main reason.
August 16, 2012
Hungary: Erste Group Expands
The Austria major bank purchases the private banking segment of BNP Paribas in Hungary.
August 9, 2012
Hungary: Most Foreign Firms from Austria
In Hungary, foreign companies employ 25% of the workforce. However, the share of foreign companies only reaches 3.3%
August 7, 2012
Polish Business Service Sector Booming
In 2011, 38 new business service centers were established in Poland. The number of employees doubled since 2009.
August 4, 2012
Bank Austria as UniCredit´s Cash Cow
Without Bank Austria, UniCredit would have been in the loss area. The CESEE region is still Bank Austria´s future market.
August 4, 2012
Hungary: Slow Progress in Talks with IMF
The negotiations with IMF about a € 15bn loan will be resumed in September. According to economists, a final agreement is highly uncertain.
August 1, 2012
Erste Group: Concerns Despite Profits
Yesterday, the Austrian banking group published its results for the first half year. The business in Romania, Hungary and Ukraine causes worries.
August 1, 2012
CESEE: Still High Degree of Corruption
According to Transparency International, „political influence over independent institutions is a systemic corruption risk in the Czech Republic, Hungary, Poland and Slovakia“.
July 31, 2012
Erste Group Burdened by Losses in Eastern Europe
Despite losses in Romania, Hungary and Ukraine, Erste Group posts a net profit of € 453.6m in first half of 2012.
July 31, 2012
Banking Industry: Slower Growth Expected
Due to the weak results in Eastern Europe, the Austrian banking industry faces only decent net income figures in the second quarter of 2012.
July 30, 2012
New Hope for Nabucco West
The Aseri Minister of Energy Natik Aliyev thinks that Nabucco West would be better than the rival project TAP.
July 27, 2012
Hungary: Real Income Shrinks
The Hungarian economy faces a substantial recession this year. Despite growing gross incomes, real income decreased by 4% last year.
July 25, 2012
Insolvencies in CESEE on the Rise
In 2011, the number of business insolvencies rose by 25% in the CESEE region. Hungary ranks first.
July 25, 2012
IMF: Doubt on Hungary´s Economic Data
For the IMF, the budgetary forecasts are too optimistic. The negotiations on the € 15bn loan continue.
July 23, 2012
RBI: Bad Development in Hungary
Herbert Stepic, CEO of Raiffeisen Bank International expects that the development of non-performing loans is stable this year.
July 21, 2012
Vienna Insurance Group: Still Growth Potential in CESEE
VIG´s new CEO Peter Hagen aims to achieve external as well as internal growth. The process of catching up will go on.
July 20, 2012
„IMF Is Not Our Enemy“
Hungary´s Prime Minister Viktor Orban returns to the bargaining table. The country needs up to € 20bn.
July 17, 2012
Hungary: IMF Talks Begin Next Week
The financially stricken country seeks a second bailout by IMF. Hungary negotiates over a loan sized € 15bn.
July 14, 2012
IMF: New Central and Eastern European Constituency
Austria, Belarus, the Czech Republic, Hungary, Kosovo, the Slovak Republic, Slovenia and Turkey have established a Central and Eastern European Constituency at the International Monetary Fund.
July 11, 2012
Immofinanz: Substantial Success in Hungary
The Szépvölgyi Business Park in Budapest, an Immofinanz Group office property, will soon become the corporate headquarters for a further international company.
July 11, 2012
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