Read the latest headlines about developments in the international service industry in Vienna and Austria
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Vienna International Professional Services Industry News

Eco with surcharge above Austrian average

"Since the Austrian real estate companies with an average of four to five percent return on equity do not currently earn their cost of equity, an evaluation of net asset value is not justified in not justified in our opinion."

July 1, 2010

New management duo for Erste Bank Austria

Following the retirement of Bleyleben-Koren, the Bank will be lead by the duo Uher and Bosek.

July 1, 2010

EU needs a budget minister

For Austrian National Bank President Raidl, the Euro is a success story, however "the monetary union only functions as a political union "I think the Euro is a success story," said the President of OeNB and the Chairman of Voestalpine Claus Raidl to t

July 1, 2010

Nowotny strongly criticizes the Hungarian bank tax

The Austrian central bank chief Ewald Nowotny has practiced unusually sharp criticism of the Hungarian government, more specifically at the proposed Hungarian bank tax.

June 30, 2010

Erste Bank recommends formation of small cash reserves

The investment experts of “Erste Bank” recommend, from the third quarter, formation of small cash reserves in the amount of 5% in the conservative portfolio and 7.5% in the dynamic portfolio.

June 29, 2010

IMF - Austria to save on expenses

Raise taxes, use the potential in the labour market and build a more effective social services system.

June 29, 2010

Unternehmens Invest AG - Voting rights of Knünz GmbH

KP Invest Beteiligungs GmbH announces that Pierer GmbH and Knünz Gmbh each have transferred UIAG shares to KP Invest Beteiligungs GmbH through a transfer of assets and contribution, bringing the participation in voting rights and in share capital to 50.1%

June 29, 2010

Pierer and Knünz to introduce shares in equity firm

KP Invest is majority shareholder in Cross Industries and UIAG

June 28, 2010

ÖVAG does not want to stay solo

The enthusiasm of authorities, central bank and the federal government is limited for the decision of the ÖVAG owner to continue without a partner and to merge Investkredit and ÖVAG.

June 25, 2010

OeNB - Stress tests discriminate against European banks

The Austrian banks have become more stable compared to the autumn of 2009, as analyzed by the Austrian National Bank. However, "stress tests" could cause lengthy aid procedures in Europe.

June 25, 2010

EU - Austria granted to extend bank aid package

The European Commission extended the authorization for the Austrian bank rescue package of €100b ($123b) for half a year.

June 25, 2010

CA Immobilien Anlagen AG to acquire Europolis AG

CA Immobilien Anlagen AG agreed with Österreichische Volksbanken-AG Group to acquire all shares in Europolis AG.

June 25, 2010

CA Immo attends to Europolis AG

Austrian Volksbank AG (ÖVAG) will conclude on Thursday its business of selling its real estate subsidiary Europolis to the CA Immo.

June 24, 2010

Hypo SüdLeasing Ltd. - Change in Executive Team

The position of the Managing Director was assigned to Maria Klimke as of 01/06/2010. She succeeds Ms. Nora Frischherz who left the company on 31.05.2010.

June 23, 2010

Publication of the stress tests on Friday

In the second half of July, the results of the stress tests for the 25 leading banks in the community will be published. Previously such reviews, as well as the national results of stress tests for all banks of a country, were kept top secret.

June 23, 2010

Is Telekom Austria more expensive than the industry average?

Given the current revenue ­ multiples, the Austrian government would have to pay almost 2 billion euros for the network of TA, which is about half the company's current market capitalization.

June 22, 2010

Power International Limited continues legal battle with Meinl Bank

The former company Meinl Power International Limited PI (PI) seeks to pursue its litigation with Meinl Bank.

June 22, 2010

EU has doubts about realignment of Hypo Alpe Adria

The European Commission extended the interim approval of state aid to the Austrian bank. The Commission also expressed doubts about the proposed realignment of the Hypo Alpe-business group.

June 22, 2010

Power International Limited - AGM approves all resolutions

All proposed resolutions on the agenda of the Annual General Meeting (AGM) of PI Power International Limited (PI) held today, Tuesday, in Vienna, were approved by a majority of about 99%.

June 22, 2010

Markus Jochum as new CEO of Hypo Tirol

Markus Jochum, currently CEO of the Tiroler Sparkasse (TISPA), was unanimously elected as the new CEO by the Supervisory Board of Hypo Tirol.

June 21, 2010

Hypo Alpe Adria - shareholders' meeting approves capital increase

€600m ($740m) of fresh capital, shareholders' meeting approves capital increase. Bank issued €450m ($555m) in form of participation certificates for the Federal Government, State Carinthia contributes €150m ($185m).

June 21, 2010

EU government leaders agree on bank tax

Financial transaction tax demanded for G-20.

June 17, 2010

Austrian Post boss Pölzl - No loss of customers, banking business is running normally

Post boss George Pölzl defends himself against allegations of the works council that Post is suffering of customer flight.

June 16, 2010

Finance Minister Pröll against publication of stress tests

Finance Minister Josef Pröll has expressed his discontent at a press briefing this afternoon about the current European debate on the publication of stress tests of individual banks based on the U.S. model.

June 16, 2010

Hungary - Orbán's crusade has what it takes for an export success

Viktor Orbán could have used his appearance at the IIF conference in Vienna to refurbish the image of his bankrupt government.

June 15, 2010

Lyoness Austria received a certificate of Leading Companies of Austria by the WKO Vienna

Leading Austria is a nationally operating platform, evaluating companies in Austria by their own management quality system.

June 15, 2010

Konrad confirmed as advocate-general for Raiffeisen

Christian Konrad is elected for another four years.

June 15, 2010

Survey - Restrictive lending in Austria

In a survey of the Credit Protection Association (KSV 1870) entrepreneurs declared, that borrowing is currently slow, and the allocation restrictive.

June 14, 2010

ECO Business-Immobilien AG sells Opernringhof in Vienna for €101m

ECO Business-Immobilien AG announces the upcoming sale of the Opernringhof in the first district of Vienna for EUR 101 million. The object will be sold to an Austrian private investor for a price significantly above the current carrying value.

June 14, 2010

Pröll - Austria will introduce a bank tax in a solo attempt.

"The bank tax will be discussed together with the banks and it will be implemented, I stand for that," announced Finance Minister Pröll.

June 11, 2010

Green Party Vienna sharply criticises the Summit Bank

"Scandalous interplay of politics and banks'

June 11, 2010

Austrian President Dr. Heinz Fischer - banks should also make contribution to costs of the crisis

Austrian President Dr. Heinz Fischer said today at the IIF conference in Vienna "a developed social system and equitable distribution of income and wealth for the economic efficiency and political stability of a country are particularly important".

June 10, 2010

IIF Meeting - Viennese outcry against Basel

At its meeting in Vienna on Thursday, the World Bank Association IIF (Institute of International Finance) presented a study on the impact of stricter banking regulations.

June 10, 2010

ÖBFA wants to sell more government bonds to the public

The Austrian Federal Financing Agency ÖBFA launches an information campaign, with the aim to increase the interest of private investors and their savings in form of Austrian government bonds.

June 8, 2010

Raiffeisen launching Zuno

Raiffeisen International is starting a direct bank with the pretty name Zuno, which will start this year in Slovakia.

June 8, 2010

Raiffeisen banks are approaching reunification

Raiffeisen International, performed better than expected in the first quarter of 2010.

June 8, 2010

123people wins Venture Capital & Private Equity Award 2010

Jury commends startup success story, "Made in Austria"

June 8, 2010

Institute of International Finance meeting in Vienna - Soros, Papandreou, Ackermann participating

The IIF expects a large gathering of the world’s leading bankers and investors to attend the 2010 IIF Spring Membership Meeting.

June 7, 2010

Schieder wants ban on short selling

The Financial Secretary sees Germany as role model.

June 4, 2010

Presentation of local top companies to institutional investors in New York

A roadshow will be presented in New York for the first time a cooperation between Crédit Agricole Cheuvreux and the Vienna Stock Exchange.

June 4, 2010

Annual Economics Conference of the OENB discusses “Central Banking after the Crisis”

Each spring, the Economics Conference of the Oesterreichische Nationalbank (OeNB) provides a forum for policymakers, academics and the interested public to discuss topical issues in economic policy.

May 31, 2010

Banks are approaching reunification

Raiffeisen International, the listed Ostbankenholding of the sector, has ended the first quarter of 2010 better than expected.

May 31, 2010

Chief Justice - AvW to pay investors

The Supreme Court declined a revision. The ruling is regarded as indicative of the current 400 million euro investment scandal.

May 31, 2010

Uniqa - First quarter with more profit and premium income

The listed company Uniqa insurance managed to increase first quarter profit and premium income.

May 28, 2010

Hypo-Alpe-Adria - Carinthia and Bayern to co-operate

For the first time in the history of judicial prosecution, Munich and Klagenfurt agreed to a formation of a "joint investigation team ", in the case of Hypo-Alpe-Adria-scandal.

May 28, 2010

Austrian federal government is now sole owner of the Federal Reserve

The price fluctuations in international currency markets helped the Austrian National Bank (OeNB) in 2009 to a strong profit increase.

May 27, 2010

New FMA standards against money laundering

In the future, all transfers in Austria can be traced back; donations to certified organizations and payments of up to € 1000 are exempt.

May 27, 2010

Warimpex successfully completes capital increase

In a difficult environment on the financial markets Warimpex successfully completed its capital increase by placing 14,400,001 new ordinary shares, representing approximately 36% of the existing share capital.

May 27, 2010

OeNB Raised its Operating Profit to EUR 318 Million in 2009

In 2009, the Oesterreichische Nationalbank (OeNB) achieved a somewhat higher operating profit than in 2008.

May 27, 2010

AGM of C-QUADRAT Investment AG

C-QUADRAT Investment AG achieved a significant year-on-year increase in its consolidated net profit for the year and looks back on a successful financial year 2009.

May 27, 2010