Sponsored Content
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
Südtiroler Sparkasse Suffers EUR 231.1 Mln Loss in 2014
Savings association Sparkasse's South Tyrol unit suffered an EUR 231.1 million (USD 253 million) loss in 2014, CEO Gerhard Brandstätter and his deputy Carlo Costa said in a press release.
March 27, 2015
Background: The New "Asian Infrastructure Investment Bank"
The Asian Infrastructure Investment Bank (AIIB) is regarded by some as a rival for the IMF, the World Bank and the Asian Development Bank (ADB), which are regarded as dominated by developed countries like the United States. AIIB is an international financial institution proposed by the government of China. The purpose of the multilateral development bank is to provide finance to infrastructure projects in the Asia region. Austria recently said, that it is "positive" and that it "now checks for a potential engagement".
March 27, 2015
Quality of Living Rankings: Vienna Tops the List Again
Vienna remaines at the top of the 2015 Quality of Living Rankings, boasting the best quality of living for expatriates. In the top 5 there are two other European cities, Zurich (place 2) and Munich (place 4). Also Auckland (3rd) and Vancouver (5th) are among the top five cities.
March 4, 2015
Global Peace Index: Austria is Third Most Peaceful Country
The latest Global Peace Index analyses the state of peace around the world. It identifies the most and least peaceful countries, trends in violence and conflict, and calculates the economic impact of violence. The top three most peaceful countries are Iceland, Denmark and Austria. Small and stable democracies make up the top ten most peaceful countries. New Zealand, Canada and Japan are the only non-European countries in the top ten.
March 4, 2015
Austria is Celebrating 60 Years of United Nations Membership in 2015
Austria became a member of the United Nations in 1955 and is celebrating 60 years of UN membership in 2015. 70 years ago, the United Nations were founded in San Francisco.
February 5, 2015
George Soros: "A New Policy to Rescue Ukraine"
Soros is calling on members of the European Union to behave as countries indirectly at war with Russia and to provide Ukraine with $50 billion to defend itself and kick-start political reforms. Russian President Vladimir Putin's imperial ambition has unintentionally brought into being a new Ukraine that is adamantly opposed to endemic corruption and inefficient government. By offering assistance, Europe can foster an open society in Ukraine and protect itself from Russian aggression.
January 22, 2015
Vienna Congress comsult 2015: "Power of Regions"
“Power of Regions“ is the topic of the Vienna Congress com•sult 2015 which is taking place today at Vienna's House of Industry. Distinguished participants from industry, politics and the business community such as F.W. de Klerk, Mohamed El Baradei, Author Benjamin R. Barber, Václav Klaus and Iain Begg are discussing the principle of regionality and its future in Europe.
January 20, 2015
Ivica Dačić in Vienna: Serbia Takes Over OSCE Chairmanship from Switzerland
The new OSCE Chairperson, Serbia’s Foreign Minister Ivica Dacic, spoke today at the inaugural Permanent Council meeting of Serbia's OSCE Chairmanship Vienna. He revealed his Chairmanship priorities pledging to rebuild trust and confidence in the OSCE region of 57 participating states.
January 15, 2015
Voestalpine Buys Italian Drawn Wire Producer
Voestalpine is expanding its activities in the drawn wire business segment and has completed its acquisition of Italian company Trafilerie Industriali S.p.A. based in Nervesa della Battaglia (Treviso). The acquisition of this Italian manufacturer of special wires brings additional strength to the Voestalpine product portfolio of drawn wire for the automotive industry.
January 12, 2015
Strabag Consortium Builds € 300 Mln Eisack River Undercrossing for Brenner Base Tunnel
The construction group Strabag, in a consortium with the Italian construction companies Salini Impregilo, Consorzio Cooperative Costruzioni CCC and Collini Lavori, signed the € 300 million contract to build the Eisack Undercrossing section of the Brenner Base Tunnel.
October 24, 2014
Government Debt Increased to 82.6% of GDP in Austria and to 92.7% in Euro Area
At the end of the second quarter of 2014, the government debt to GDP ratio in the euro area (EA18) stood at 92.7%, compared with 91.9% at the end of the first quarter of 2014. Austria's government debt rose to 82.6 percent of GDP in Q2 2014 from 81.3 percent in Q1.
October 23, 2014
Italian SNAM to Acquire TAG Gas Pipeline for EUR 505 Mln
The Italian gas pipeline operator SNAM is going to buy the alpine Trans-Austria-Gasleitung GmbH (TAG), a pipeline running through Austria and the Alps. The price of the pipeline stretch amounts to EUR 505 million, Italian media reports. Austria’s listed oil and gas group OMV holds an 11-percent stake in TAG.
September 15, 2014
Poland's Donald Tusk to Become European Council President
Current council president Herman Van Rompuy tweeted the announcement from the EU summit. Mr Tusk, Poland's centre-right prime minister since 2007, will become the European Council's president. Italy's Federica Mogherini, a centre-left politician and foreign minister will replace the UK's Catherine Ashton as EU foreign policy chief.
August 30, 2014
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
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
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
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
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
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
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
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
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
Fast News Search
This category only
