Sponsored Content
Vienna International Professional Services Industry News
Read the latest headlines about developments in the international service industry in Vienna and Austria
Banking Package: Costs up to € 4.8bn
The Austrian Audit Court expects that the banking package will be much more expensive than it was said before. Moreover, the Audit Court criticizes the government massively. The control mechanism would be too weak.
September 26, 2012
Austria Faces Growing Demand in Living Space
In the next 25 years, Austria needs 10% more apartments. However, building land becomes more and more scarce.
September 25, 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
Immofinanz: Earnings Up, Net Income Down
In the first quarter of 2012/13, the Austrian real estate company recorded an increase in rental income by 14.2%. EBIT soared by 31.1%. Net income declined by 67.5%.
September 25, 2012
Immofinanz Announces Massive Share Repurchase Program
The executive board of IMMOFINANZ AG has resolved to carry out a repurchase programme of treasury shares based on the authorisation by the 18th ordinary sharehold-ers’ meeting of 28 September 2011.
September 24, 2012
Slovenia Creates Bad Bank
The Slovenian government aims to lower risky assets of the financially stricken banking sector. A major capital increase may be necessary.
September 21, 2012
VBAG to Cut More than 1,000 Jobs
Today, the Austrian problem bank announced to sharpen its austerity program radically. Until 2017, VBAG must be downsized to the half of its current size.
September 21, 2012
Vienna Stock Exchange welcomes first trading member from Ireland
As of today, Virtu Financial Ireland Limited is the first trading firm from Ireland to join as direct trading member the cash market of the Vienna Stock Exchange.
September 21, 2012
Haynes: Cerberus Supports Bawag
Bawag´s CEO Byron Haynes confirms that the bank will cut jobs. The customer segment should be kept, however. Instead, the cost structure should become more efficient.
September 20, 2012
Poland: Standard & Poor´s Upgrades Banking Industry
The U.S. rating agency upgrades the banking sector´s risk score.
September 20, 2012
European Commission Approves State Aid for VBAG
The European Commission has today approved the comprehensive restructuring plan developed by Österreichische Volksbanken-AG (VBAG) in the wake of the financial and economic crisis to restore long-term profitability.
September 19, 2012
Costs of Austrian Banking Package: € 2.36bn
Since 2008, the Austrian government has resolved rescue packages worth € 21bn. Expenses totaled € 4.169bn, revenues reached € 1.814bn.
September 19, 2012
Austria Wants to Unload Hypo Group
In 2009, BayernLB sold the financially stricken bank to the Austrian state. Now, the Austrian Republic may appeal against the sale.
September 18, 2012
Bawag to Cut 700 Jobs
The Austrian bank plans to sharpen its austerity program. The private trade segment should be downsized in order to reduce the equity requirement.
September 18, 2012
Implementation of Banking Union to be Postponed
Initially, the Commission of the EU intended to introduce the banking union in 2013. After the fierce resistance of some member states, the Commission gives up its plans for the time being.
September 17, 2012
Austrian Economy at a Standstill – "But probably not for long"
Bank Austria's Business Indicator sinks to -0.7 points in August, the third decline in a row. 2012 as a whole expected to be up to 1 percent, in spite of stalled economic activity in the second half of the year.
September 17, 2012
VBAG Streamlines Management Board
Wolfgang Perdich to step down from Board of Management on 30 September 2012.
September 17, 2012
Vienna Insurance Group Becomes Market Leader in Macedonia
After the acquisition of QBE Makedonija, Vienna Insurance Group ranks first in the Macedonian insurance market.
September 17, 2012
BNP Paribas Joins the Vienna Stock Exchange as new Trading Member
As of today, the French BNP Paribas Arbitrage S.N.C, headquartered in Paris, and BNP Paribas Arbitrage S.N.C. in London joined the Vienna Stock Exchange as new trading members.
September 17, 2012
Slovak Leasing Industry Shrinks
In the first half of 2012, sales in the Slovak leasing market were down by 5%.
September 15, 2012
„Becoming Number Five Until 2015“
In an interview with the Austrian newspaper „Presse“, Uniqa´s CEO Andreas Brandstetter is optimistic to become a big player in the insurance industry in the CESEE region.
September 15, 2012
VBAG Redeems Bonds
The partly nationalized Austrian bank has repaid bonds guaranteed by the Austrian state.
September 14, 2012
Banking Union: Austrian FMA Wants to Integrate Eastern European Countries
According to the board of Austria´s Financial Market Authority, not only the banks of the Eurozone should be supervised.
September 13, 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
Erste Group Expects Higher Equity Quota
The Vienna-listed Erste Group expects that a new minimum equity quota will be prescribed in 2013.
September 12, 2012
CA Immo Completes Mercedes-Benz Sales Headquarters in Berlin
The last concrete was laid on the roof today. The foundation stone was only laid in November 2011 and the building is set to be completed by mid 2013.
September 11, 2012
UNIQA Establishing Market-Friendly Group Structure
The Austrian insurance group aims to create a new, streamlined Group structure to prepare for the Re-IPO.
September 11, 2012
Bank Austria: Bernkopf New Management Board Member
Helmut Bernkopf becomes Management Board member of Bank Austria with responsibility for the bank’s private and corporate customers
September 11, 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
Hungary: Bank Tax Intake Lower than Expected
The bank tax proceeds only reach 40% of the planned volume.
September 10, 2012
Slovenia: Juncker Calls for Reforms
The chairman of the euro-group Jean-Claude Juncker warned Slovenia. “The situation is critical, there is no time to lose.”
September 10, 2012
S&P Criticizes Weak Capital Base of Austrian Banks
According to the U.S. rating agency, Austrian big banks should increase their equity base in order to compensate further risks.
September 7, 2012
Immofinanz: New Project in Cologne
The Austrian real estate group dissolved its joint venture with Frankonia Eurobau and took over the Gerling Quarter in Cologne.
September 6, 2012
S&P: Foreign Currency Loans Endanger Austrian Banks
According to the U.S. rating agency, the high volume of foreign currency loans is a big danger for Austria´s banks. Nevertheless, the Austrian banking sector achieved the second best rating.
September 6, 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
Conwert Buys Back Convertible Bonds
Result of tender offer for convertible bonds due2014.
September 6, 2012
Oberbank to Expand in Hungary
The Austrian regional banks plans to open new branches in Hungary
September 5, 2012
Slovenia „No Problem for Austrian Banks“
Although Austria is the biggest investor in Slovenia, the Austrian banking industry does not fear a national bankruptcy.
September 5, 2012
Five Potential Buyers for Kommunalkredit
Next year, the nationalized bank should be re-privatized. The sale should be finished until the end of this year.
September 4, 2012
Bad Times for Vienna Stock Exchange
Compared to August 2011, stock turnover fell by 66% last month. Turnover only reached € 2.3bn.
September 4, 2012
Hypo Group Reduced Capital at Croatian Subsidiary
The Austrian nationalized bank cut the stock capital of the Croatian subsidiary by € 100m.
September 3, 2012
Slovenia: “Danger for Austrian Banks is Limited”
Although Austria would be most affected by a Slovenian national bankruptcy, the likeliness of this scenario is rather low, analysts say.
September 3, 2012
Bank Union: Austrian Banking Industry Cautious
European Forum Alpbach: In mid-September, the EU Commission will present its plans regarding the bank union. The bank union should not be implemented too fast, the Austrian Financial Market Authority says.
September 1, 2012
Outstanding Foreign Currency Loan Volumes Continue to Fall
The Austrian Financial Market Authority (FMA) publishes its quarterly survey on changes in foreign currency loans.
September 1, 2012
RLB Lower Austria – Vienna Decreasing Net Income
RLB (Raiffeisenlandesbank) Lower Austria-Vienna published its results for the first six months of 2012. Net income and operating profit were down.
September 1, 2012
Capital Shortfall at Hypo Group up to € 2.0bn
OeNB (Austrian Central Bank) will publish the capital shortfall at the end of September and emphasizes not to submit to the government´s pressure.
September 1, 2012
Foreign Investors Dominate at WSE
Warsaw Stock Exchange: The share of foreign investors in trade on the alternative market has increased substantially. WSE’s Main Market has remained stable after the previous period with foreign investors still in the lead.
September 1, 2012
Croatian Crisis Aggravates
For Croatia, the end of the severe recession is not foreseeable. Croatia´s real economy is hit hard, the financial sector suffers from bad loans.
August 31, 2012
Slovenia in a Vicious Circle
Slovenia´s Prime Minister Janez Jansa warns that his country may has to announce its national bankruptcy in October.
August 31, 2012
Satisfactory Half Year Result for VBAG
Österreichische Volksbanken-Aktiengesellschaft (VBAG) Group has ended the first six months of 2012 with a result before taxes of € 49m.
August 31, 2012
Fast News Search
This category only
