Austria and Hungary - Read the latest headlines about bilateral relations in the areas of economy, business, investment, diplomacy, culture and tourism
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Hungary in Austria | Hungarians in Vienna | Bilateral Relations

Business Climate Improves in Eastern Europe

According to the Austrian Kontrollbank (OeKB), the Business Climate Index has risen in Eastern Europe for the seventh consecutive time.

February 9, 2011

Eastern Europe Slows Siemens Austria Down

The pre-crisis level has not been reached yet, says CEO Hesoun. Public savings programs prevent the technology company's growth.

February 9, 2011

Rising Bankruptcy Fears in Eastern Europe

The Austrian Creditor Protection Association “Creditreform” foresees a further rise in bankruptcies in Eastern Europe. The economic crisis is not over yet.

February 9, 2011

150 New Bank Austria Branches in Eastern Europe

The new board of the CEE Division of Bank Austria presented the group's expansion plans for Eastern Europe. By 2015, 900 branches are to be added.

February 9, 2011

RLB Burgenland’s Profits Increase

Burgenland's regional bank recorded an operating profit of € 49m for 2010, which represents a slight improvement compared with 2009.

February 4, 2011

Investments in Renewable Energies in the CEE are booming

According to a study by TPA Horwath, Austrian companies will expand massively their involvement in the field of renewable energies in the CEE region.

February 4, 2011

Hungary: Calls for Boycotts against Foreign Companies in Hungary

A Hungarian initiative demands that 13 foreign companies be boycotted, including Austrian OMV

January 18, 2011

New Charges against Ruttenstorfer

The chairman of Austria's OMV is accused of market manipulation because of an interview.

January 14, 2011

CEE Economic Growth Forecast: 3.8% in 2011

According to UniCredit, especially Turkey, Poland, Czech Republic and Estonia will bounce back impressively due to stronger industry and domestic demand.

January 13, 2011

CEE: Raiffeisen Remains Optimistic

The analysts of the Austrian Raiffeisen International Bank give Austria and the CEE good growth prospects. However, there still remain known risks.

January 12, 2011

Satisfaction at CEE Stock Exchange Group

The CEE Stock Exchange Group (CEESEG) looks back at a “busy and successful year 2010”.

January 5, 2011

CEE Stocks to Climb by 20% in 2011

Erste Group analysts recommend: stock picking rather than sector allocation. 2011 to be a positive year for equity investments.

January 5, 2011

SW Umwelttechnik: New Orders Totalling € 6.5m

OMS, the engineering company of the Austrian SW Group, won contracts in Hungary and Romania valuing a total of € 6.5m.

January 5, 2011

Special Tax: Hungary Under Fire

Especially the Austrian economy criticizes the Hungarian special tax on large companies. The EU Commission has already started an investigation.

January 4, 2011

13 CEOs Call For Sanctions Against Hungary

Because of the new taxes introduced by the Hungarian government, a group of prominent European CEOs call for EU-sanctions.

January 2, 2011

Austria's Labor Market Opens

As of May 1, 2011 the German and Austrian labor markets open for the new EU citizens. Romania and Bulgaria will follow suit in 2013.

December 30, 2010

Garage Operator Company List Expands to Hungary

The Vienna-based List Group, which acts as real estate company, acquired the Wipark Group in Hungary.

December 28, 2010

Austrian-Hungarian Know-How for Macedonia

The Hungarian and Austrian Stock Exchanges make their capital market know-how available to the Macedonian Stock Exchange.

December 21, 2010

OeNB: Recovery of the Financial System in a Persistently Uncertain Environment

The OeNB considers that domestic banks benefit from the positive development in the CEE region. However, uncertainties stay on as before.

December 15, 2010

Austrian Economic Chamber Supports Development of the Danube as a Transportation Route

Austrian Economic Chamber President Christoph Leitl supports the EU's Danube region strategy to expand infrastructure between the Danube countries.

December 10, 2010

A Las Vegas for Europe

On the Austria-Hungarian border, the European “EuroVegas” gaming metropolis is to be built for € 5.0bn.

December 8, 2010

Austria's Position in the CEE Region Shakes

According to the Roland Berger consultancy agency, Austria receives not only competition in the CEE countries, but the importance of the region also decreases from a global viewpoint.

December 1, 2010

Massive Lay Offs at Hypo Group

The still ailing Carinthian bank restructures the leasing division. 500 jobs are being cut.

November 30, 2010

ÖBB-CEO Kern Reconstructs Freight Division

After the decisions made about personnel, Kern wants to make the freight division profitable again. The group’s CEO has accorded himself three years for the process.

November 26, 2010

Warimpex Announces Results of Q1-Q3 2010

Upward trend continues in the third quarter of 2010: Sales up by 21 percent.

November 17, 2010

Erste Group: Job Reduction in Hungary

The Austrian bank plans to cut 250 jobs in Hungary. Reasons are the bad loans and the introduction of the bank tax.

November 11, 2010

Erste Group: CEE Companies More Efficient than Western Counterparts

CEE companies are more efficient, more profitable and less indebted as Western companies. The German corporate sector is the only sector to compete with CEE companies.

November 10, 2010

Raiffeisen CEO Stepic: CEE Continues Being Europe’s Growth Driver

The boss of Raiffeisen Bank International Bank (RBI), Herbert Stepic, sees the CEE region continuing as long-term growth driver for Europe.

November 8, 2010

Competition for Hungarian ÖBB Subsidiary

Rail Cargo Hungaria (RCH) is still fighting for restructuring success. Meanwhile, a new competitor has appeared in the freight business.

November 5, 2010

ÖBB: Alleged Corruption

An internal document about a meeting of the ÖBB Supervisory Board in 2008 has now appeared. Bribes are openly talked about.

October 29, 2010

Wienerberger Plans Full Takeover of Semmelrock International

The purchase of the remaining 25% stake in Semmelrock International has been announced today. Wienerberger regards the acquisition as a “logical step”.

October 29, 2010

Hungarian Railway Workers Strike Against Rail Cargo

Due to employee layoffs at Rail Cargo Hungaria, the employees threaten to go on strike. Rail Cargo suffers losses both in Austria and in Hungary

October 27, 2010

Bank Austria CEO Cernko: No More Bank Tax Soon

Due to Basel III, location reasons and to safeguard jobs, the bank tax will only be effective temporarily, according to Cernko

October 22, 2010

EVN's Subsidiary RAG Increased Gas Capacities

New capacities are created, gas and oil exploration in Poland and Hungary to be intensified

October 17, 2010

Coface CEE Top 500 - Poland Largest Number of Companies in CEE

Poland has the largest number of companies in the Central and Eastern Europe Top 500 with 28.4%. Hungary ranks second with 16.6%, overtaking the Czech Republic, which is home for 13.8% of the CEE Top 500.

October 12, 2010

Demmers Teehaus Seeks Entry into New CEE Markets

The Austrian tea specialist Demmer, who is expanding into CEE with a franchising strategy, wants to enter new markets.

September 30, 2010

CEE Real Estate: Outlook is brightening

CEE real estate stocks are currently in a phase of brisk corporate action. Financially sound companies with attractive assets are interesting takeover targets, while other companies are being taken over.

September 27, 2010

CEE Banking Sector Report: Still More Credit Losses in the East

The number of bad loans is expected to increase considerably in some Eastern European countries, a Raiffeisen-analysis shows.

September 21, 2010

Strabag acquires property und facility management service provider in the Czech Republic

The acquisition of 100% of ECM Facility a.s., Prague garantes the number 5 position in property & facility management in the the Czech Republic.

September 20, 2010

CEE Companies in a Turmoil

According to a study by Deloitte, last year Eastern Europe’s top 500 companies showed a clear decline in sales.

September 14, 2010

Horváth & Partners Study - CEE remains attractive

A new study of the Horváth & Partners Management Consultants studied the success factors for setting up the subsidiaries of production sites in CEE.

September 8, 2010

Raiffeisen Centrobank AG - Interim Financial Report released

Raiffeisen Centrobank made the biggest contribution to the result of the group with a profit after tax of EUR 14.401 mn.

August 31, 2010

Austrian Banks in Central, Eastern and Southeastern Europe

According to a recent comparative study from the Austrian Central Bank (OeNB), the long-term commitment of Austrian banks in Central, Eastern and Southeastern Europe (CESEE) offers good prospects.

August 27, 2010

Hungary gives bank tax its blessing

The new Hungarian Prime Minister Viktor Orban will not abandon the highly controversial tax, as decided in Parliament.

July 22, 2010

East-Europe Bank - "Hungary carries risks of infection"

The proposed bank tax against the wishes of the IMF is not a good sign, says the head of the European Bank for Reconstruction and Development (EBRD).

July 20, 2010

Hungary rejects additional austerity measures

Hardened front between the Hungarian government on the one hand and the International Monetary Fund (IMF) and the EU on the other side: highly-indebted Hungary has ruled out further austerity measures.

July 19, 2010

Hungarian burden for Austro-banks

Raiffeisen International (RI) CEO Herbert Stepic expressed his concerns during a general conference.

July 9, 2010

Hungary rejects amendments to bank levy

At the start of negotiations with the International Monetary Fund (IMF), the Hungarian government ruled out an amendment of the introduction of the controversial bank tax.

July 7, 2010

Nowotny strongly criticizes the Hungarian bank tax

The Austrian central bank chief Ewald Nowotny has practiced unusually sharp criticism of the Hungarian government, more specifically at the proposed Hungarian bank tax.

June 30, 2010

Hungary - Orbán's crusade has what it takes for an export success

Viktor Orbán could have used his appearance at the IIF conference in Vienna to refurbish the image of his bankrupt government.

June 15, 2010