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Latest Headlines about other Business & Economic Developments

Moody’s: Rate Cuts Credit-Negative for Polish Banks

The recently passed cut in interest rates by Poland’s Monetary Policy Council has a negative effect on credits for Polish banks, rating agency Moody’s announced.

June 11, 2013

Poland: Sale of Foreign Currencies to Stabilize Zloty

After lowest rate in one year, the Polish government had to take actions.

June 10, 2013

Austria: Leitl Welcomes Latvia to Join Eurozone

Head of the Austrian Chamber of Commerce Leitl considers the Euro adoption as an important political signal for the cooperation and the strengthening of the European currency union.

June 5, 2013

Latvia: Euro to Be Introduced 2014

Latvia will be able introduce the Euro on January 1 2014. According to diplomats, this is what the EU Commission will recommend on Wednesday in Brussels.

June 4, 2013

Turkey: Protests Claimed Life of At Least One Person

According to the medical association at least one protestor was killed in Istanbul. Despite of unequaled violence by the police protests against Prime Minister Erdogan will not break down.

June 3, 2013

Czech Republic Not to Introduce Euro Before 2019

According to reports by the Czech media, the new government intends to apply for the Euro only in 2016.

May 31, 2013

Majority of Czechs Want to Keep the Koruna

A clear majority of Czech citizens reject the Euro and want to keep their national currency, the Czech Koruna.

May 14, 2013

Croatia in No Hurry To Introduce Euro

Croatia would keep the national currency and is in no hurry to introduce the Euro.

May 10, 2013

Czech Republic to Improve EU Relations?

Visits from high EU officials should herald the start of a new era in the relation between the Czech Republic and the EU.

May 3, 2013

Asmussen: “New Eurozone Members Will Reap Benefits of Initial Phase”

CEEs and The Crisis: Current Challenges and Benefits

April 30, 2013

9.2 Million EU Citizens Wish To Work More Hours

Labour Force Survey: Proportion of underemployed part-time workers up to 21.4% in the EU27 in 2012

April 19, 2013

Cyprus to Sell Gold Reserves

The country has to sell reserves in the amount of € 400m. In the meantime, the banking sector has been cut down to one half of its former size.

April 10, 2013

Matolcsy’s Program Evokes Mixed Feelings.

During a press conference on Thursday, April 4, new Govenor of Hungarian National Bank (MNB), György Matolcsy presented some of the “creative financial market instruments”.

April 6, 2013

Cyprus: Trying to Avoid Chaos at Banks

Today, Cyprus‘ banks are supposed to be opened after almost two weeks of closing. The citizens are called for calm and there are limits for drawing money. The currency rate was downgraded to Caa2 by Moody’s.

March 28, 2013

Hungary: MNB to Reduce Key Interest Rate

The Hungarian National Bank (MNB) lowered the key interest rate by 25 basis points down to 5.0 %. This is the eighth downgrade in a row.

March 26, 2013

Austria: Highest Rate of Foreign-Currency Debts

No other country in Europe exhibits such a high amount of private foreign currency credit users. In 2014, when the next wave of repayments is due many debtors might be in for a shock.

March 25, 2013

Poland: Inflation Decreasing

Declining inflation was supported by weaker demand and cost pressures in the economy, decrease in energy price growth as well as zloty exchange rate stronger than a year ago.

March 15, 2013

Austria: Less Money in Foreign Currency Credits

The volume of foreign currency loans has decreased further at the end of 2012.

March 7, 2013

Voestalpine to Announce Decision on Expansion Into North America

The Austrian steel group plans a major investment in North America. According to voestalpine´s CEO Wolfgang Eder, the decision will be announced in February.

February 9, 2013

Nabucco Pipeline Is Taking Shape Slowly

The natural gas pipeline commences Front End Engineering and Design services for Nabucco West project.

January 28, 2013

Bayerngas Leaves Nabucco

The German natural gas company does not want to join the pipeline project.

January 28, 2013

Austrian Industry Against Short-Time Work

According to IV (Federation of Austrian Industries), short-time work is too expensive.

January 8, 2013

New Hope for Nabucco

The gas pipeline project is said to get a new major shareholder. In case of the entry of the Shah Deniz II consortium, Nabucco´s utilization would be secured.

December 22, 2012

CA Immo: New Tenants in Hungary

CA Immo was able to acquire new tenants for some 9,300 sqm office space in five Hungarian office properties over the past six months.

December 10, 2012

Austrian Industry Calls for Flexibilization of Short-Time Work

Austrian businesses expect that short-time work may return. Three years ago, the

December 4, 2012

Ukraine: “Stability of Currency Not Endangered”

Ukrainian businessmen are confident in the stability of hryvnia, the Ukrainian National Bank says.

November 28, 2012

Ukrainian National Bank Under Pressure

In order to support its own currency, the foreign exchange reserves of NBU (Ukrainian National Bank) were down substantially.

November 24, 2012

Hungary: Public Debt Level Declines

Due to the favorable currency development, the public debt level fell slightly.

November 20, 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

South Stream Pipeline: Gazprom Concludes Contract with Hungary

The Russian energy group Gazprom has negotiated the last conditions of the contract with Serbia and Hungary.

November 2, 2012

Nowotny: Greek Haircut for ECB “No Issue”

The governor of Austria´s National Bank (OeNB) Ewald Nowotny thinks that ECB would not participate in a haircut.

October 29, 2012

RHI Begins to Downsize in Europe

The Austrian refractories company plans to expand in Russia. In Europe, the first factories will be shut down in two years.

October 18, 2012

Poland´s Komorowski: “Strong Swiss Franc Causes Problems”

On the occasion of a visit in Switzerland, the Polish President Bronislav Komorowski explained that the strong Swiss franc is a problem for both countries.

October 5, 2012

Soros: "Germany Must Lead or Leave"

In a talk on "The Future of the Euro" in Vienna, George Soros presented his vision of how the European financial crisis can be solved.

September 11, 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

International Raw Materials Conference EUMICON 2012

The event takes place from 19th to 21st September 2012 in Leoben, Austria. Top decisionmakers will come together.

July 30, 2012

New Hope for Nabucco West

The Aseri Minister of Energy Natik Aliyev thinks that Nabucco West would be better than the rival project TAP.

July 27, 2012

OMV Resumes Production Works in Yemen

The Austrian oil and gas group may get oil from Yemen soon. In Bulgaria, OMV participates in exploitation works.

July 17, 2012

Rising Attractiveness of Gold

Austrian Erste Group: „Prolonged negative real interest rates and global debt crisis set to push gold price higher.“

July 11, 2012

Vienna Stock Exchange: New Trading System for Gas Exchange

Trayport ETS: New trading system on CEGH Gas Exchange of the Vienna Stock Exchange.

July 6, 2012

„Up to 70% of European Steel Capacities are Endangered“

Wolfgang Eder, CEO of Austrian voestalpine, thinks that the European steel industry faces fierce competition from the East.

July 3, 2012

Nabucco „Not Essential“ for EU

For the EU Commissioner Günther Oettinger, it is not important which pipeline ships natural gas to Europe.

June 22, 2012

OMV and Wintershall Sign Upstream Agreement with ADNOC

OMV and Wintershall will appraise the sour gas and condensate field in Shuwaihat in the Western Region of Abu Dhabi. OMV´s CEO Gerhard Roiss sees strengthened relations with the United Arab Emirates.

June 21, 2012

Bank Austria Sells Headquarters

The highest-bidder procedure is to lead to a sale of the property by the end of 2012. Bank Austria will retain its property until the new headquarters has been completed.

June 15, 2012

„Nabucco Will Die A Hundred Times“

OMV´s CEO Gerhard Roiss promotes the new „Nabucco West“ project and underlines the high probability of success.

June 14, 2012

Austrian E-Control Supports Shale Gas Exploitation

Walter Boltz, CEO of the Austrian energy market regulator, thinks that Europe would benefit from the shale gas exploitation.

June 13, 2012

Austrialian Mining Company Plans to Exploit Lithium in Austrian Alps

Global Strategic Metals NL plans a site with an investment volume of € 125m in Austria. For Austria, the lithium deposits would be a „highly strategic asset“.

June 9, 2012

„India and China are not the Problems“

Voestalpine´s CEO Wolfgang Eder thinks that competitors from Turkey, Russia and Ukraine may become problematic for the European steel industry.

June 5, 2012

Energy: Germany and Austria Agree on Closer Cooperation

German dena and Austrian Verbund advocate stronger German-Austrian energy partnership and aim to build more pumped storage power plants for the integration of wind and solar power.

June 1, 2012

„Nabucco Is Still an Option“

Elshad Nassirov, Vice-Chairman oft he Azerbaijani gas company Socar, argues that BP´s statement about Nabucco was premature.

May 29, 2012
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