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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
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
Agrana Aims for Expansion into Balkan Region
The Austrian sugar and starch company Agrana is looking for acquisition targets in the Western Balkans.
April 23, 2012
Bank Burgenland Records Profits in spite of Hungarian Crisis
The Austrian regional bank´s results were impressed by the coerced conversion of foreign currency loans in Hungary.
April 21, 2012
Drastic Cut in Profit at RLB Lower Austria-Vienna
After net income of € 308.6m in 2010, the figure went down by 64.5% last year. Write-offs in Hungary, bank taxes and the lower result at RZB are the main reasons.
April 20, 2012
Goldman Sachs: Too Small Margins at Austrian Banks in CEE
The U.S. investment bank is optimistic that the CEE region recovers in 2013. The write-offs made by Austrian banks were “correct”.
April 16, 2012
Austrian Railways Aims for Expansion in SEE
ÖBB (Austrian Railways) wants to establish a new freight subsidiary operating in Southeastern Europe. In Austria, ÖBB performs better than expected.
April 16, 2012
Strabag to Expand in Danube Region
In order to develop the Danube region of Hungary, Serbia, Romania, Bulgaria and Ukraine, the Austrian construction group expands its hydraulic engineering business.
April 12, 2012
„Bank Aids Are Lost“
The economist Franz Hahn (WIFO, Austrian Institute of Economic Research) argues that the nationalized banks are not interesting for potential buyers.
April 10, 2012
Oberbank Aims For „Organic Growth“
The Upper-Austrian regional bank continues its growth course and underlines its financial stability and independence.
April 6, 2012
Raiffeisen: Downsizing in Hungary Completed
The Hungarian subsidiary of the Austrian lender Raiffeisen Bank International has no plans for further business downsizing.
April 5, 2012
VBAG Records Losses of € 1.35bn
Due to high write-offs in Hungary and Romania, the Austrian nationalized bank registered major losses in 2011. Thus, the capital injection covers these losses only partially.
April 5, 2012
RBI Strengthens Commitment to CEE Region
Austrian Raiffeisen Bank International underlines its function as major lender in Central and Eastern Europe. Hungary is still the most uncertain market.
April 2, 2012
RBI Is Optimistic to Reach Solution in Hungary
On the occasion of a investor conference in London, Austrian Raiffeisen Bank International talked about risks in Hungary and capital requirements by EBA.
March 31, 2012
EStAG Reports Moderate Rise in Earnings
The Styrian energy supplier Energie Steiermark AG could raise revenues by 9.0% to 1.37bn. Operating profits were down, though.
March 30, 2012
Ottakringer: Hungary Lowers Profits
The Austrian beer producer achieved stable results in 2011. The Hungarian brewery Pécs reports losses, however.
March 27, 2012
Nabucco Sees Decision on Combination With Tanap Next Year
Nabucco Gas Pipeline International GmbH, the € 7.9bn ($ 10.5bn) project to ship Caspian fuel to Europe, expects to make a decision on whether to link up with the competing Trans-Anatolia Pipeline next year.
March 22, 2012
Certificates: Optimism at BSE
The CEESEG-owned Budapest Stock Exchange has positive expectations for certificates in 2012.
March 21, 2012
Bank Austria Plays Down Hungary Risks
The head of UniCredit unit Bank Austria's central and eastern Europe business played down potential risks from Hungary in a magazine interview published on Friday.
March 19, 2012
No Credit Crunch in CEE
Western European banks maintain the liquidity of their subsidiaries in Central and Eastern Europe. The equity provision is better than expected.
March 14, 2012
Austria Wants More Leeway for Hungarian Budget
The Austrian Minister of Finance Maria Fekter criticizes the EU. Hungary is not treated equally, Fekter says.
March 13, 2012
Austrian Railways: Hope for RCA
Rail Cargo Austria, the freight division of Austrian Railways (ÖBB) seems to have achieved the turnaround. In 2010, RCA caused losses of € 67m.
March 10, 2012
Foreign Direct Investment in Austria Increasing
In 2011, a moderate decline in new enterprise settlements was registered. Investments grew by 34%.
March 8, 2012
Uniqa Aims for Growth in CESEE Region
The Austrian insurance group wants to sell stakes by the minority shareholders of subsidiaries in Eastern Europe. The capital increase is scheduled for 2013.
March 5, 2012
Car Deal Pappas Achieves Growth in Hungary
The Austrian car dealer group could achieve sales of € 129.1m in Hungary. In spite of the economic crisis, sales climbed up by 12%.
March 3, 2012
Austrian Railways Looking for Partners
ÖBB (Austrian Railways) wants to re-launch its foreign markets with local partners. After 2008, ÖBB had to downsize operations abroad.
February 28, 2012
High Losses for Erste Group Expected
Although Erste Group has to report high losses for its financial year 2011, analysts are optimistic for 2012. Business in Romania and Hungary is expected to improve.
February 28, 2012
Merger of Nabucco-TANAP Discussed
Members of the gas pipeline projects Nabucco and TANAP talk about a merger in Vienna. The Turkish Minister of Energy participates therein.
February 28, 2012
Partial Nationalization of VBAG Planned
The financially stricken Austrian bank receives new capital. The Republic of Austria makes contributions of € 1.05bn. Bank taxes will increase.
February 27, 2012
Immofinanz to Become a „Property Machine“
CEO Eduard Zehetner wants Immofinanz to become a full developer, operator and seller of top-real estate objects. The company should be transformed to a “property machine.”
February 25, 2012
Hungary is Optimistic to Reach Agreement with IMF
The Hungarian ambassador in Vienna, Vince Szalay-Bobrovniczky is convinced to solve the current financial crisis soon. Hungary aims for re-gaining trust of investors.
February 25, 2012
Slight Growth Rates of Spar in CEE Region
For the first time, the Austrian supermarket chain´s sales totaled more than € 12.0bn in 2012. Sales growth amounted to 3.8%.
February 24, 2012
Baumax Faces Stagnation
The Austrian building center chain records declining sales in real terms in Austria. Growth rates are observed in Eastern Europe.
February 24, 2012
CSC Establishes its CEE Headquarters in Vienna
The U.S. IT service supplier CSC upgrades the Viennese subsidiary as regional headquarters for ten countries.
February 22, 2012
Nabucco Still Competes For Gas in Azerbaijan
The gas pipeline project, in which the Austrian oil company OMV is engaged, now enters the critical phase.
February 21, 2012
Stepic Criticizes Rating Agencies Sharply
For Herbert Stepic, CEO of Raiffeisen Bank International (RBI), statements given by the U.S. rating agencies are “undifferentiated”.
February 20, 2012
Sberbank Upgrades VBI´s Headquarter in Vienna
After the acquisition of the Austrian VBI, the Russian bank wants to expand massively in Europe.
February 20, 2012
Cernko: „Triple A Only in the Medium Term“
Bank Austria´s CEO Willibald Cernko does not think that Austria re-gains its “AAA” status within the next three years.
February 16, 2012
Bank Austria Writes Off Greek Bonds
The Austrian subsidiary of the Italian UniCredit Group has to write off Greek sovereign bonds by € 100m.
February 13, 2012
RBI: „Capital Increase is Pure Speculation“
The Austrian Raiffeisen Bank International, which is said to plan a capital increase, points out that this information is a “pure rumor”.
February 9, 2012
Russian Natural Gas Supply to Normalize
According to the Austrian oil and gas company OMV, gas deliveries from Russia are increasing slightly.
February 8, 2012
Capital Increase at RBI?
According to market rumors, Raiffeisen Bank International is said to revisit € 1.00bn sale as shares rise.
February 8, 2012
Hungary: 160,000 Loan Takes Convert Foreign Currency Debt
According to the Hungarian Financial market authority, 142,000 Hungarian households repaid foreign currency debt. Further 19,000 are expected.
February 7, 2012
CEE Countries with Bigger Space for Higher Bond Yields
Romania, Czech Republic and Slovakia with biggest room for manoeuvre in case yields would spike; Hungary should avoid financing at +6%, says Erste Group.
February 6, 2012
VBI Sale: Closing Expected for Mid-February
The Russian Sberbank buys VBI from Austrian VBAG. The price totals € 505m.
February 6, 2012
Porr Extends Capital Increase
The Austrian construction group intends to restock its planned capital increase. The minimum volume is € 30m.
February 2, 2012
Losses in Hungary Keep Within a Limit
The deadline for the conversion of Hungarian foreign currency loans expired. Austrian banks think that their provisions are sufficient.
February 1, 2012
3E Group Grows in Eastern Europe
The Austrian building material company´s revenues were up by 3.2% in 2011. Total sales reached € 546m.
January 30, 2012
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