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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


CEE Equity: RBI Cautiously Optimistic

RBI forecasts a slight increase in yields for Poland, Hungary, Russia and the Czech Republic. Austrian ATX should grow moderately in the next 12 months.
September 28, 2012


CEE Remains Europe’s Growth engine Despite Slow-Down

CEE with 2012 GDP growth of 2.4 per cent – GDP in Eurozone to shrink to minus 0.5 per cent in 2012 . In terms of reforms, CEE tops Eurozone peripherals
September 28, 2012


Czech National Bank Expects More Interest Rate Cuts

The governor of the Czech National Bank Miroslav Singer explained that the monetary easing program will continue.
September 27, 2012


Hungary: Simor Criticizes Interest Cut

The governor of Hungary´s National Bank Andras Simor warns of an increase in inflation.
September 26, 2012


Hungary „Still Obtains Funding from the Financial Market“

Vince Szalay-Bobrovniczky, the Hungarian ambassador in Vienna, emphasized that Hungary is not dependent on the IMF loan. The IMF urges Hungary to reduce its bureaucracy, he says.
September 26, 2012


MOL Announces Massive Investments in Hungary

The Hungarian oil group plans to make investments of € 1.1bn in the next three years.
September 25, 2012


Public Debt: New EU Members Are More Flexible

Compared to old EU member states, the new member states have more fiscal leeway to overcome the crisis.
September 24, 2012


Slight Decrease in Industrial Production in Hungary

In July, the industrial production was down by 0.3% compared to July 2011. In Austria, industrial production was up by 2.0%.
September 24, 2012


EU: Germany Biggest Net Payer, Poland Biggest Net Recipient

In 2011, Poland received EU-aids of € 11bn. Among the new EU members, Hungary ranks second. In terms of GDP, Hungary is the biggest beneficiary.
September 21, 2012


Hungary Revises GDP Forecasts

Initially, the Hungarian government forecasted a GDP growth rate of 0.1% this year. Now, State Secretary Gyula Pleschinger explained that Hungary´s economy will shrink this year.
September 20, 2012


Hungary: Real Income Falls Further

In the first seven months of 2012, the Hungarian real income was down by 4%.
September 19, 2012


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