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Italy in Austria | Italians in Vienna | Bilateral Relations

Hypo Group to Sell Austrian Affiliate

On Friday the deal of nationalized Hypo Bank’s Austrian affiliate will finally be sealed. Indian Srei Group will become the new owner in all likelyhood. The company will pay € 60m to € 70m.

May 29, 2013

Austria: Faymann Proposes Extension of Bank Levy

Not only the federation and taxpayers should avow for the losses at Hypo Group. This week the restructuring plan has to be handed to the EU Commission.

May 27, 2013

Nowotny: Decision About Bad Bank for Hypo Not Essential Right Now

The Governor of Austrian’s National Bank confirms that the result for the ailing Hypo Group will not be “good” due to the losses that have amounted over the past years.

May 23, 2013

Srei Group to Offer € 65.6m for Hypo

The Indian Srei Group offers € 65.5m for Austrian Hypo affiliate.

May 22, 2013

Austria: Preliminary Results on Hypo Group Expected Next Week

Hypo Group’s task force, appointed by the government, will present the preliminary corner marks next week.

May 17, 2013

Hypo to Require € 1bn This Year

The ailing banking institute Hypo Group in the province of Carinthia will need € 1bn. On Friday, the managing board of Hypo Group will present a restructuring plan to the Finance Minister.

May 17, 2013

Indian Srei Group to Acquire Austrian Hypo?

Austria is looking for a buyer for the domestic Hypo affiliates. Indian Srei Group seems to have good chances.

May 13, 2013

Former Polish President: “EU Needs Ukraine”

In an interview with Polish news magazine Wprost, former Polish president Aleksandar Kwasniewski explains that in the future, the EU will need Ukraine.

April 22, 2013

Rothensteiner: „Strictly Against Discussion“

Head of RZB (Raiffeisen Zentralbank) Walter Rothensteiner is everything else but happy about the current discussion about the bank secret and deposit guarantee.

April 17, 2013

Austria: Hypo Group to Come Under Fire

Pressure from Brussel grows for a fast selling of Hypo Group.

April 16, 2013

Austia: Stable Industrial Production

Austrian industrial enterprises are particularly concerned about the future. The order situation was stable last year, however, only because of domestic orders. Sales in exports are still decreasing.

April 12, 2013

Concern About Hypo Group in Friuli

MEP Serracchiani has requested to get involved in the current affairs.

April 8, 2013

European Banks Leaving CESEE Countries

Two banks from EU member state countries Sweden and Italy have announced withdraw from their holdings in Hungary, Russia and Ukraine.

April 2, 2013

Moody’s Warns EU

The rating agency warns the EU governments about over-estimating the ability to overcome the Euro-crisis.

March 27, 2013

Austrians Poorer Than Italians or Spaniards?

According to a study carried out by the German Central Bank (Bundesbank) assets of private households in Austria is less than in Italy or Spain.

March 22, 2013

Bank Austria To Boost Capital Base

CEO Cernko wants Eastern Europe to play an important role again in the future.

March 19, 2013

Bank Austria's Profits Under Pressure

In the fourth quarter, Bank Austria has recorded a net loss of € 676m. In the whole year, CEE division showed a profit before tax of € 1.712bn which is an increase of 6 % compared to 2011. One-off charges totalled € 879m.

March 18, 2013

Bank Austria Takes Drastic Measures

Because of selling the Kazakhstan division and bad credits, quarter losses of € 553m for parent company UniCredit have to be faced.

March 16, 2013

Bank Austria to Sell ATF

Bank Austria will sell its affiliation in Kazakhstan, ATF Bank, which was acquired in 2007. ATF made losses into the billions.

March 15, 2013

Austria: Hypo Group Still Sailing in Stormy Waters

Hypo Group wants a fast selling until the end of 2013. Vending of Italian and CESEE subsidiaries could take longer as the economic situation is not appealing at the moment.

March 12, 2013

Czech Republic: Agrofert Takes Over German Bakery Chain Lieken

Barilla, the world’s leading manufacturer of pasta products, announced that it had fixed a deal with the Czech company Agrofert to sell the German baking enterprise, Lieken AG.

February 25, 2013

Austrian Exports Reach new All-Time High

The Austrian Chamber of Commerce (WKO) today presented the foreign trade results of 2012. This year, WKO´s President Christoph Leitl expects s moderate increase in exports.

February 21, 2013

Palfinger Establishes Joint Venture for Access Platforms in Italy

The Austrian crane manufacturer is establishing Palfinger Platforms Italy Srl., a joint venture with headquarters in Bolzano, Italy.

February 19, 2013

Poland Underlines Necessity of Cohesion Funds

At the EU summit, Poland wants to secure as much cohesion payments in the next multiannual financial framework from 2014 to 2020.

February 7, 2013

Bank Austria Centralizes Operations in Baltic Countries

The Austrian subsidiary of Italian UniCredit has shifted the units in Lithuania and Estonia to Latvia.

January 29, 2013

“South Tyrolean autonomy must not be undermined”

State Secretary outlines Austria’s position to a delegation of the South Tyrolean Parliament

November 26, 2012

Bank Austria: Subsidiaries in Czech Republic and Slovakia to Merge

Bank Austria´s holding company UniCredit starts a Business Refocusing Program in CEE.

November 13, 2012

South Stream Pipeline: Construction Works to Begin in December

The pipeline projects of Russia´s gas group Gazprom makes substantial progress. Europe´s dependence on Russia is growing further.

November 12, 2012

Strabag Aims to Take Over Italian Highway Operator

The Italian highway operator Milano Serravalla is going to be privatized. The Austrian construction company plans to acquire the majority.

November 7, 2012

IHS: Collapse of Eurozone would Cost 157,000 Jobs

The Austrian Institute of Advances Studies IHS says that Austria´s economic growth would be lower by 11 percentage points until 2016.

November 5, 2012

„Nabucco Is not Dead at All“

The EU-Commissioner of Energy Günther Oettinger is optimistic that Nabucco will be successful. According to Austria´s Minister of Economics Reinhold Mitterlehner, the prospects of success are “50+”.

October 9, 2012

Hypo Group: Problems in Italy

The Austrian banking group, which was nationalized in 2009, must downsize. The sale of the Italian subsidiary proves difficult, however.

September 25, 2012

Klaus: Czechs Against Banking Union

The Czech President notes that the Czech Republic cannot achieve anything without a recovery of the European economy. However, it would be advantageous to stay outside the Eurozone.

September 18, 2012

Hypo Group Cuts Jobs in Italy

The Austrian bank continues its downsizing program. 118 out of 403 jobs will be reduced in Italy.

September 13, 2012

„The situation is inconvenient, but not dramatic“

In an interview with the Austrian newspaper Kurier, the Austrian Minister of Economics Reinhold Mitterlehner underlines that “we must keep our nerves”.

September 13, 2012

Euro-Crisis Enters Austria

In the second quarter, the Austrian GDP only grew by 0.1%, WIFO says (Austrian Institute of Economic Research). A recession is not excluded anymore.

September 10, 2012

Hypo Group´s Capital Shortfall at € 2.2bn

Today, the Austrian Financial Market Authority (FMA) announced its new estimation regarding the nationalized banking group. Insiders fear that Hypo Group needs even more money.

September 6, 2012

Further Increase in Unemployment

At the end of August 2012, 289,000 persons were looking for a job in Austria. At the same time, employment still grows.

September 3, 2012

Fekter: „Spain is No Bail-Out Candidate“

Austria´s Finance Minister Fekter says that only Spain´s banks may need help from the EU.

August 31, 2012

Austrian Guarantees Total € 80bn

In the worst case, Austria´s public debt quota may increase up to 100%, the Austrian opposition warns.

August 27, 2012

Grexit: Aiginger Warns of Shock in the Balkan Region

Wifo´s (Austrian Institute of Economic Research) director Karl Aiginger thinks that a Greek exit would not only cause big problems for Greece itself, but for the whole Balkan region.

August 21, 2012

South Stream Pipeline May Run Across Croatia

Instead of Hungary, the pipeline project South Stream may pass through Croatia. Gazprom currently negotiates with the Croatian operator Plinacro.

August 20, 2012

Austrian Real Income Fell Dramatically

Economists often say that Austria has benefitted from the euro. According to a study of UBS, Austria has lost a substantial degree of prosperity, however.

August 20, 2012

Red Bull: Difficulties in Italy

The Austrian energy drink producer faces examinations by the Italian Competition Authority.

August 13, 2012

S&P Confirms Bank Austria´s Rating

Due to the downgrade of the holding company UniCredit, the U.S. rating agency retains the negative outlook for Bank Austria.

August 8, 2012

Kommunalkredit´s KA Finanz Needs New Guarantees

Because of its exposure in Greece, the nationalized Austrian lender needs further guarantees from the Austrian state.

August 6, 2012

Bank Austria as UniCredit´s Cash Cow

Without Bank Austria, UniCredit would have been in the loss area. The CESEE region is still Bank Austria´s future market.

August 4, 2012

Strabag to Expand into Italy

The Austrian construction group intends to enter the Italian construction company „Autostrade Pedemontana“.

July 31, 2012

Bankruptcy Prevented: Schlecker Austria Becomes „daily“

The Austrian investment funds TAP 09 acquires the financially stricken chemist chain. Schlecker Austria should become a local grocer.

July 31, 2012

Nowotny Wants Bank License for ESM

The governor of OeNB (Austrian Central Bank) Ewald Nowotny told the news agency Bloomberg that there would be some good reasons for this solution.

July 26, 2012