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Italy in Austria | Italians in Vienna | Bilateral Relations
Austria and Italy - Read the latest headlines about bilateral relations in the areas of economy, business, investment, diplomacy, culture and tourism
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Analysis: The Brenner Base Tunnel
The Brenner Base Tunnel is a planned 55-kilometre long railway tunnel through the base of the Brenner massif. It will run from Innsbruck Hauptbahnhof in Austria to Franzensfeste (Fortezza) in Italy, replacing part of the current Brenner railway. The line is part of Line 1, the Berlin to Palermo route, of Trans-European Transport Networks (TEN-T).
August 11, 2014
Analysis: Russia - Assessment of EU and Tightened US Sanctions
Special analysis covering the most recent escalation in terms of Western economic and financial sanctions against Russia: EU and US sending bold diplomatic signals without inflicting too much near-term economic and financial damage. In comparison to the US sanctions by the EU are capped in duration. Recent escalation adds to uncertainty in doing business with Russia, which is an ultimate goal of sanctions. Near-term impact of current sanctions still limited, which implies a risk that they may remain for longer.
July 31, 2014
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Austrian FDI: Current Developments 1Q 2014
In the first quarter of 2014, Austrian FDI abroad reached a value of 2.8 billion euros, which is less by about 30% than in the same period of 2013. Foreign direct investments in the same period into Austria stood at 1.4 billion euros. This is about 37% less than in the same period of last year.
July 29, 2014
Cost of Living Rankings: CEE Capitals Cheaper, Vienna is 32nd Most Expensive City
The Mercer's 2014 Cost of Living Rankings have been published and cover 211 cities across five continents. While Western European cities have all risen in the rankings mainly due to the strengthening of the Euro against the US dollar, most cities in Central and Eastern Europe (CEE), however have fallen in the ranking as a result of local currencies depreciating against the US dollar. Bratislava (#84), Prague (#92), Kiev (#98), Ljubljana (#116), Zagreb (#120), Budapest (#135), Warsaw (#142), Belgrade (#184).
July 25, 2014
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FDI in Austria up by EUR 25 Million
In the first half of 2014 the number of international companies setting up business operations in Austria with the assistance of ABA in cooperation with the regional investment promotion agencies climbed from 88 to 114. Total investment volume was up 15.9 % in the first half of 2014 to EUR 179.97 million from EUR 154.33 million in the prior year period.
July 11, 2014
Analysis: The South Stream Gas Pipeline
Due to the signing of the South Stream agreement between OMV and Gazprom for the Austrian part of the pipeline during Putin's visit to Vienna, we take a look at the background of the project.
June 25, 2014
TTIP-Myths and Realities According to AmCham Austria
The American Chamber of Commerce in Austria (AmCham Austria) promotes the expansion and strengthening of trade and commerce relations between Austria and the US. Talks on a future EU-US trade deal started in July 2013 and are set to continue throughout 2014. The talks are part of a trade and investment deal, known as the Transatlantic Trade and Investment Partnership, or TTIP.
June 3, 2014
Austria: Western Balkans Representatives are Meeting in Vienna
The Western Balkans Conference and the Central European Initiative (CEI) Ministerial Meeting are currently discussing questions regarding the EU enlargement, the role of the EU as a peace project and the economic situation in the Western Balkans.
June 3, 2014
Switzerland: IMD Releases the World Competitiveness Yearbook Ranking 2014
The US leads, Europe recovers, and big emerging markets struggle.
May 22, 2014
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Exporttag: Meet All Austrian Trade Delegates at the Export Day 2014
On June 24, the Export Day (Exporttag) of the Austrian Chamber of Commerce (WKO) will take place in Vienna. Economic delegates from all over the world will be present.
May 20, 2014
Bank Austria's Ukrainian Subsidiary Not Yet To Be Sold
Because of the crisis in Ukraine the planned sale of Bank Austria's Ukrainian subsidiary has been halted.
May 13, 2014
Czech Arca Capital to Invest in Romania
As reported by daily E15, Czech investment group Arca Capital is planning to make a huge investment in Romania.
May 12, 2014
Fiat Intensifies Investments in Poland
As reported by Polish daily Puls Biznescu, Italian automotive manufacturer Fiat plans on lauching the production of a new series, similar to the so-called Punto.
May 9, 2014
Verbund: Trying to Get Rid of Sorgenia
The Austrian utility Verbund announced not being willing to invest any further money into loss-making Italian energy group Sorgenia.
May 8, 2014
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Hypo Group to Shut Down Subsidiaries in Italy
Until the end of this year five subsidiaries in Italy will be closed.
May 6, 2014
Bulgaria: Banking Sector Getting Back on Feet Again
In the first quarter this year profits of the Bulgarian banking sector grew by 34 percent.
May 2, 2014
Bank Austria: “Russia is Still Profitable”
According to Vice CEO of Bank Austria and head of business operations in CEE Gianni Franco Papa, business in Russia is not yet affected by the political crisis in Crimea.
May 2, 2014
Hypo Group Further Losses to Be Expected
Huge losses by the sale of the SEE banking network could be expected.
April 30, 2014
Situation for Austrian Banks in Russia is “Sensitive”
According to the latest statistics, Austrian banks are considerably more engaged in Russia than assumed so far. Debts to domestic financial institutes amount to € 50bn.
April 29, 2014
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Austrian Banking Sector Making Losses
For the first time in 2013, the Austrian banks made losses in the amount of € 1.035bn.
April 29, 2014
Do Taxes Justify a Relocation of Business?
Tax sensitive business operations should be relocated to other areas if necessary, according to the head of Erste Bank Austria.
April 24, 2014
Slovenia: List of Debtors of NLB Published
The Slovenian bad bank BAMC (Bank Asset Management Company) has published the list of debtors of the country’s two largest banks, which are responsible for the disaster of the state-controlled banks.
April 23, 2014
UniCredit: Common Bad Bank with Intesa Sanpaolo?
The parent company of Bank Austria may create a common bad bank with its Italian competitor Intesa Sanpaolo. The bad bank may be sold later on.
April 22, 2014
Hypo Group: Italian Branch Turns Out a Huge Problem
According to CEO Picker there were more “skeletons in the closet than expected” which led to huge losses for the ailing bank. The Italian network may have to be downsized.
April 17, 2014
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Bank Austria Ends Business on Crimea
One day after Ukrainian affiliate of Raiffeisen Bank International (RBI), Bank Aval, has terminated business on the peninsula Crimea, UniCredit’s Bank Austria announced closing down its affiliates permanently.
April 16, 2014
Industrial Location Austria Losing Attractiveness
Among other things, labor costs and energy prices are too high, according to the Austrian Federation of Industries.
April 16, 2014
RBI Terminates Business on Crimea
The Ukrainian affiliate of Raiffeisen Bank International (RBI), Bank Aval, has terminated its business activity on Crimea.
April 15, 2014
Hypo Group Alpe Adria: Massive Losses in Italy
Last year, the distressed Austrian lender recorded losses in the amount of € 2.7bn. In Italy, losses were highest.
April 11, 2014
Erste Group to be Relocated to the Czech Republic?
CEO of Erste Group, Andreas Treichl, has informed Czech President Milos Zeman about the bank’s intention to move to Prague in the coming years.
April 9, 2014
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Austria: Fitch Warns Banks of Risk with Business in Russia
The menacing sanctions against Russia with regard to the political crisis in Crimea could become a severe danger for Austrian banks.
April 1, 2014
Czech Republic: Banks’ Net Profits Decline
The majority of large banks operating in the Czech Republic have to face profit losses for the business year 2013.
April 1, 2014
Austria: Industrial Production Loses Momentum
Austrian industry loses some momentum after strong growth at the start of the year.
March 28, 2014
RBI to Keep Hungarian and Ukrainian Affiliates?
Raiffeisen Bank International (RBI) considers keeping its affiliates in Hungary and Ukraine.
March 27, 2014
Moody´s Downgrades Bank Austria
The U.S. rating agency Moody´s takes a closer look at European banks. Due to the worsening asset quality of Bank Austria´s parent company UniCredit, Bank Austria´s rating was cut to “Baa2”.
March 22, 2014
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Hungary: Jurisdiction Affects FX Loans and Banks
Hungary’s constitutional court will exert influence on FX loans.
March 18, 2014
Bank Austria to Focus on Growth Markets in the Future
Because of the high value of write-offs Bank Austria, CEE affiliate of Italian UniCredit, had to face record losses amounting to € 1.6bn. CEO Willibald Cernko, however, does not consider the bank having made any mistakes in the past.
March 12, 2014
Losses Running into the Billions for Bank Austria
Bank Austria’s results for the 2013 financial year.
March 11, 2014
Hypo Group: Further State Aid Necessary This Year
Finance Minister Spindelegger fears that nationalized problem bank Hypo Group Alpe Adria will require further state aids for its downsizing still within this year.
March 10, 2014
S&P: European Banking Sector Faces Worse Ratings
According to the rating agency, the public support for the European banking sector is essential in many cases. Without financial support, banks might be downgraded.
March 5, 2014
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Banks Striving to Leave Ukraine
While Austrian insurance companies intend to stay on the Ukrainian market banks are facing write-offs running in the billions.
March 5, 2014
Austria: Solid Growth and Recovery in Industrial Industry
Austria’s industrial recovery continues.
March 3, 2014
Austrian Banks with Significant Exposure in Ukraine
Ukrainian crisis hits Western Banks in different state compared to 2008/09, according to RBI.
February 27, 2014
Ukraine: Austrian Banks Reopened Branches
After the political disaster in the Ukraine all bank shops in the country’s capital Kyiv have opened again on Monday.
February 25, 2014
RBI Closes All Affiliates in Kyiv
Because of the most recent violent outbreaks in Kyiv the Ukrainian affiliate of Raiffeisen Bank International (RBI) has closed its affiliates in the country’s capital
February 21, 2014
Hypo Disaster: Who Are the Beneficiaries?
International investment companies, funds and domestic banks are the major recipients of the billions of Euros in the Hypo Group disaster.
February 19, 2014
Austria: Economic Upturn Still in Standby-Mode
According to the analysis of the economic indicator of Bank Austria, there is moderate growth and hope for the first quarter in 2014.
February 17, 2014
Threat of Bankruptcy: Moody´s Cuts Hypo Group Alpe Adria´s Rating
The U.S. rating agency downgrades the rating of the Austrian nationalized lender by four notches. Moody´s referred to the uncertainty and the vague statements of the Austrian government.
February 15, 2014 · Updated: February 15, 2014; 18:47
Cernko: Wealthy to Support R&D in Austria
The CEO of Bank Austria calls upon the Austrian government to take into consideration the funding of research and development by wealthy individuals and regard this as part of their “tax duty”.
February 12, 2014
Ukraine: Tough Market for Foreign Banks
The coming two years will be challenging for foreign banks operating in Ukraine.
February 11, 2014
ECB Wants to Supervise All Banks
For the European Central Bank, the current authority does not go far enough. The ECB wants to control all 6,600 banks in the Eurozone.
February 8, 2014
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