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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


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


Performance of Austrian Banks Remarkably Down

Austria seems to be significantly „overbanked“: Austrian banks only achieve a 0.1% yield on the capital employed.
July 9, 2012


Hungary Plans to Boost Economy

With a € 1.0bn programme, the Hungarian government aims to create more jobs and stimulate consumption.
July 9, 2012


Purchasing Power in CEE Region: Czech Republic Ranks First

Among Poland, Slovakia and the Czech Republic, Bratislava records the biggest regional purchasing power. In total, the Czech Republic ranks first.
July 7, 2012


Hungary: Negotiations on IMF Loan to be Concluded in Autumn

Since January, the Hungarian government tries to secure a € 15bn loan by IMF and the European Central Bank. A final solution may be found in the next months.
July 7, 2012


Austria Remains One of the Biggest CESEE Investors

Austria is still an important net investor in Central, Eastern and Southeastern Europe. However, the global importance of the region did not increase.
July 6, 2012


CEE Defies Turbulences in the Eurozone

GDP in CEE expected to grow 2.6 per cent in 2012 – eurozone expected to shrink by 0.3 per cent. Growth forecast for Austria’s GDP at 0.7 per cent in 2012
July 5, 2012


Czech Republic: OMV Withdraws, MOL Expands

The Hungarian oil and gas group purchased 124 petrol stations in the Czech Republic. The Austrian OMV continues its downsizing strategy.
July 4, 2012


CESEE: Poland and Turkey are Hot Spots

Erste Economic Sentiment Indicator CEE: stock market expectations weaker, but still ahead of Eurozone. Turkey and Poland remain the preferred investment regions.
July 4, 2012


Volksbanken Sector to Become Merged

After months of negotiations, the merger between VBAG and the 52 Volksbanken is resolved. The merger was the prerequisite for getting bank aids.
June 30, 2012


Hungary: Financial Transaction Tax to be Extended

The Hungarian government plans a growth stimulus program, which should be funded with the extension of the current financial transaction tax.
June 30, 2012


Uniqa Completes Sale of Mannheimer Group

The Austrian insurance group Uniqa completed the sale of the Frankfurt listed company Mannheimer AG Holding to Continentale Versicherungsverbund. Growth in CESEE countries should be strengthened.
June 29, 2012


Credit Crunch in CESEE?

Anglo-Saxon banks and funds are most aggressive in deleveraging; Austrian bank are not relying on funding from countries in hotspots of deleveraging.
June 27, 2012


Austrian Railways and Hungarian MAV to Cooperate

ÖBB and MAV are said to plan a common expansion strategy in Southeastern Europe.
June 25, 2012


Nabucco „Not Essential“ for EU

For the EU Commissioner Günther Oettinger, it is not important which pipeline ships natural gas to Europe.
June 22, 2012


CESEE Banks: Small Exposure in Southern Europe

The riskiness of assets held by CESEE banks is manageable, the U.S. rating agency Fitch says. The CESEE region has closer links to Western Europe than to Southern Europe.
June 20, 2012


Major Loss at VBI

The Sberbank-owned Volksbank International (VBI) recorded a net loss of € 95.5m last year.
June 15, 2012


CEESEG: Harsh Environment Depresses Earnings for 2011

CEE Stock Exchange Group reports a massive cut in earnings, which is mainly due to impairment losses of Budapest Stock Exchange.
June 15, 2012


Leitl Underlines Good Relations with Hungary

At the visit of Hungary´s Viktor Orban, the President of the Austrian Chamber of Commerce (WKO) stresses the long-term commitment of Austrian enterprises in Hungary and claims legal security in return.
June 14, 2012


Raiffeisen Sector Won Market Shares Last Year

The Austrian Raiffeisen banking group could increase ist market share in lending and deposits.
June 14, 2012


New Equities at Budapest Stock Exchange

The 23 largest and most liquid European equities from 6 countries and 15 various industries will be available in forints via Hungarian exchange members.
June 13, 2012


Orban Defends Hungarian Economic Policy

The Hungarian Prime Minister Viktor Orban met Austrian policymakers in Vienna. The Hungarian bank tax should be replaced by a financial transaction tax.
June 13, 2012


„There´s no Crisis in Eastern Europe“

Austrian economists and bankers do not comprehend the downgrade by Moody´s. The risk in Eastern Europe would be more differentiated, OeNB´s governor Nowotny said.
June 8, 2012


Downgrade for Austrian Banks

The U.S. rating agency Moody´s downgrades Erste Group, Raiffeisen Bank International and Bank Austria.
June 6, 2012


Substantial Losses at Volksbanken

The main shareholders of Austrian VBAG had to write down € 333m last year.
May 26, 2012


Massive Gap in Purchasing Power

Purchasing Power Parities 2012: Higher travel costs for overseas destinations; Austrians' purchasing power 40–70% above the level in Slovakia, Czech Republic and Hungary.
May 21, 2012


BCR: Treichl Expects Soon Recovery

Andreas Treichl, CEO of Erste Group, anticipates a soon recovery of the Romanian subsidiary Banka Comerciala Romana.
May 19, 2012


Another Setback for Nabucco

The German RWE considers leaving the natural gas pipeline consortium. Also the Hungarian MOL will exit.
May 16, 2012


Grazer Wechselseitige Posts Profit Decrease

Due to the Hungarian business segment, the Austrian banking and insurance group recorded a decline in net income to € 58m from € 69m.
May 16, 2012


Declining Sales at Ottakringer

The Austrian beer and mineral water producer faces a shrinking market in the first quarter of 2012. Sales fell by 8.9%.
May 16, 2012


Strong Increase in Austrian FDI

Only in 2007, Austrian investors made more investments abroad. Last year, FDI totaled € 22bn.
May 14, 2012


Zsolt Katona is the new CEO of BSE

The Board of Directors of the Budapest Stock Exchange appointed Zsolt Katona to be the new Chief Executive Officer from 15 May 2012.
May 11, 2012


Hungarian Bank Tax May be Abolished

The extraordinary bank tax in Hungary will be halved in 2013 and deleted in 2014, the government said. Austrian banks are relieved.
May 10, 2012


Nabucco: Azerbaijan´s Nassirov Optimistic

Elshad Nassivor, Vice CEO of the Azerbaijani oil and gas group Socar is optimistic to create a connection with Austria´s gas hub in Baumgarten.
May 5, 2012


Improved Business Atmosphere in CESEE Region

According to a survey by OeKB (Oesterreichische Kontrollbank), expectations of investors are beyond the level of January. Austrian exports to the CESEE region may increase.
May 4, 2012


Budapest Stock Exchange´s CEO Resigns

György Mohai ceases his position as chief executive officer of BSE (Budapest Stock Exchange), a member of CEESEG.
May 2, 2012


Drastic Losses at Porr

The third-largest Austrian construction company had to write off projects in Hungary and Romania. Net losses totaled € 72m.
April 30, 2012


OMV: „Nabucco is More Alive than Ever”

Despite the exit of Hungarian MOL, the Austrian oil company underlines the importance of Nabucco. CEO Roiss holds on Nabucco.
April 28, 2012


OMV Plans Downsizing of Nabucco

The Austrian oil and gas group works on a downsized version of the natural gas pipeline project. The original version would become too expensive, analysts say.
April 25, 2012


MOL May Leave Nabucco Project

Hungarian Prime Minister Viktor Orban said that MOL the country’s largest company by market capitalization, is leaving the € 7.9bn ($ 10.4bn) Nabucco natural gas pipeline project.
April 24, 2012