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Vienna International Community - Other Top Players - Latest Headlines

Meinl Bank Shows Losses

Due to the elimination of investments, Meinl Bank slips into the red zone. The loss amounts to € 37m.

December 28, 2010

Sanader Remains in Extradition Custody

Custody prior to extradition was imposed on the former Croatian Prime Minister Sanader. He complains about the "arbitrariness of the Croatian authorities".

December 28, 2010

Voestalpine: Franz Rotter taking over from Claus Raidl

Already on Monday 31st March 2010 the Supervisory Board of voestalpine AG appointed Mr. Franz Rotter to the Management Board of voestalpine AG, with effect from 1st January 2011.

December 27, 2010

Investigations Against Sanader Continue

The investigation of Austrian and Croatian authorities against the former Prime Minister of Croatia in the Hypo affair are being intensified. Many questions remain unanswered.

December 23, 2010

Hypo Group: Sanader Denies Payments of Commissions

The former Croatian Prime Minister Ivo Sanader, questioned in Salzburg, denies having ever received money from the Hypo Group.

December 22, 2010

AAA Rating Confirmed for Austria

The rating agency Standard & Poor’s; leaves Austria’s credit status unchanged.

December 22, 2010

Changes in Board of Bewag have been Completed

The energy supplier from Burgenland gets a new board after a seven-week long call for tenders.

December 22, 2010

Change in Magna´s Management

The Austrian-Canadian component supplier announces a change in its Board of Directors. Belinda Stronach leaves.

December 22, 2010

Leitl: Municipal Financial Problems Act as Growth Brake

The President of the Austrian Federal Economic Chamber (WKÖ), Christoph Leitl, demands greater spending efficiency in the public sector in order to improve municipal finances.

December 22, 2010

New Markets for Red Bull and Rauch

The Austrian Food companies Rauch and Red Bull open new distribution networks through the Croatian Atlantic Group.

December 21, 2010

Urgent Need for Capital at Austrian Banks

Walter Rothensteiner, Chairman of RZB as well as the Credit Division of the Economic Chamber, considers that domestic banks are under massive capital pressure.

December 21, 2010

ÖIAG: Sale of the Post and Telekom is possible

Peter Michaelis, the departing CEO of the Austrian state holding company (ÖIAG) is considering the sale of interest holdings.

December 20, 2010

Potential of Austria's Creative Industries

Mitterlehner and Leitl: the Austrian creative industry accounts for 60,000 cross-industry jobs and acts as an export driver.

December 20, 2010

Higher Dividends at Telekom Austria

Telekom Austria Group Updates its Cash Use Policy and Provides Financial Outlook at its Capital Market Day.

December 20, 2010

Porr takes over TEERAG-ASDAG and starts reorganization

The Porr Group presents a new corporate structure. Focus is put on domestic civil engineering and road construction with TEERAG-ASDAG.

December 20, 2010

French SNCF Participates in Westbahn Project

The French National Railways acquire a stake of 25% in the Haselsteiner project.

December 17, 2010

Austrian Economic Chamber focuses Growth Market China

Minister of Economy Mitterlehner presented together with the President of the Economic Camber, Leitl, strategies for the export market China.

December 17, 2010

A-Tec Quota Too Low for Creditors

The group has not defined an overall quota yet. What is certain, however, is that the current offer will be too low for the creditors.

December 17, 2010

Austria's Tax Revenues are Higher than Expected

As the economy developed relatively well this year relatively, tax revenues increased. The deficit for 2010 might therefore turn out to be lower than planned.

December 17, 2010

Controversies About S&T Personnel

The chairman of the Vienna-based IT services provider, Thomas Streimelweger sues the supervisory board because of his dismissal, which he allegedly offered.

December 16, 2010

Accusations Against Sanader Grow Stronger

Many clues point to improper activities by former Croatian Prime Minister Ivo Sanader in connection with the Hypo Group.

December 16, 2010

Decline in sales at Siemens Austria

Sales have dropped by 20% but the profit situation is stable. Orders have improved by 14%.

December 16, 2010

voestalpine: Change in Executive Board

The Supervisory board has decided the succession of executive board member Mülner. His successor as head of the Railway Systems Division is Franz Kainersdorfer.

December 16, 2010

WKÖ: EU patent to stimulate Austrian innovation

The Austrian Economic Chamber (WKÖ) welcomes the enhanced cooperation for the EU-wide patent and hopes to obtain benefits for the domestic economy.

December 16, 2010

Changes on the Management Board of Vienna International Airport

After several weeks of controversial discussions, the Supervisory Board announced Christoph Herbst as new CEO. He will succeed Herbert Kaufmann.

December 16, 2010

Austrian Economic Chamber is Against Euro-Bonds

Chamber President Leitl calls for an in-depth cooperation in economic policy instead of euro-bonds.

December 15, 2010

EVN: Changes in the Executive Board of EVN

The energy supplier located in Lower Austria announces the early retirement of Burkhard Hofer, member and spokesman of the Executive Board.

December 15, 2010

New Head for Bank Austria´s CEE Division

Gianni Franco Papa designated to head Bank Austria’s CEE operations. The experienced manager is responsible for the Group’s planned growth.

December 15, 2010

Skylink: Resignation of Executive Board or Supervisory Board

The Vienna Airport Skylink debacle is becoming a political issue. Staffing decisions have been made.

December 14, 2010

Madoff Affair: Accused Defend Themselves

The accused Sonja Kohn and Stefan Zapotocky defend themselves vehemently against accusations and allegations. Both are, according to the accusation, part of the Madoff system.

December 14, 2010

Demands against the Hypo Group Amount up to € 300m

The investigation team appointed for the Hypo Group has determined property damages for over 300m. This amount is the basis for eventual claims.

December 14, 2010

New Board Member at OMV

Supervisory Board of OMV: Manfred Leitner appointed to the OMV Executive Board with effect from April 1, 2011.

December 14, 2010

AUA: Signs of Strike

The staff is voting for strike measures. Protests are planned for after the Christmas holidays.

December 14, 2010

Contradictions about Sanader's Connection to Carinthia

The connection between the former Croatian Prime Minister Sanader and the Carinthian Hypo Group is multifaceted, but also full of contradictions.

December 14, 2010

Government Support for the Hypo Group

The Hypo Group is still far away the end of restructuring. Losses between € 700m and € 900m are expected for this year. The state gives a guarantee for 500m.

December 13, 2010

Austria Benefits from Low Loan Interest Rates

Because of low interest rates and spreads, Austria is able to get convenient financing on the loan market. Euro-bonds would mean significant costs for Austria.

December 13, 2010

Changes in Trend for the Austrian Labor Market

Imminent job cuts because of the uncertain business development.

December 13, 2010

Vienna Stock Exchange: Tax on Securities Gains Damages Austrian Economy

Massive disadvantages for Austrian companies because of financing made more difficult are feared by the members of the of the Vienna Stock Exchange board, Michael Buhl and Heinrich Schaller.

December 13, 2010

Madoff Proceedings: Billion Lawsuit against Bank Austria

The former chairman of Bank Medici, Sonja Kohn, is said to have managed the Madoff system for years. A lawsuit has been filed from the US.

December 13, 2010

Economic Chamber: Positive Outlook for 2011

The Business Barometer presents both opportunities and risks for the Austrian economy. Shortage of skills and low investment continue being weak points.

December 13, 2010

The Croatia-Connection of the Hypo Group

The recent arrest of former Croatian Prime Minister Ivo Sanader casts shadows on the Carinthian Hypo Group.

December 10, 2010

OMV: Nabucco Underway as Planned

Austrian OMV considers that the gas pipeline project of European energy companies is developing according to plans.

December 10, 2010

Difficult Times for Austrian Investors in Zagreb

The plan of an Austrian group of investors to build the largest shopping center in Europe in the Croatian capital threatens to fail.

December 10, 2010

Is Austria a Risk Country?

Due to its engagement in Eastern Europe, Austria is partially considered as a potential risk country. Lack of understanding for this assessment is shown by Austria.

December 10, 2010

Nowotny: No Euro-bonds Yet

Although he supports the euro-bonds in principle, the time has not come yet for the Governor of the Austrian National Bank.

December 10, 2010

OMV: Operating Result of Over € 2.0bn Expected

The CEO of the Austrian oil group, Wolfgang Ruttenstorfer says: "2010 was a good year for OMV”.

December 10, 2010

Corruption in Austria: 9% Pay Bribes

Austria follows the international trend of growing corruption. 25% are ready to pay bribes worldwide.

December 10, 2010

Mitterlehner: New Red-White-Red Card has Advantages for Economy and Location

The "red-white-red-card" is to meet the needs of the Austrian economy for skilled foreign workers.

December 10, 2010

Austrian Economic Chamber Supports Development of the Danube as a Transportation Route

Austrian Economic Chamber President Christoph Leitl supports the EU's Danube region strategy to expand infrastructure between the Danube countries.

December 10, 2010

Conwert Appoints Volker Riebel as New CEO

Chairman of the Administrative Board, Johannes Meran: “With Mr. Riebel, we won an internationally recognised real estate professional as CEO.”

December 9, 2010