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Vienna International Professional Services Industry News

Vienna Stock Exchange buys 16.5 percent stake of the Ljubljana Stock Exchange

The Vienna stock exchange holding company, CEE Stock Exchange Group (CEESEG AG), has made some arrangements with minority shareholders of the Ljubljana Stock Exchange to purchase the remaining shares of its Slovenian subsidiary.

July 15, 2010

Stress tests could be price-sensitive information

At the political level it is fiercely debated how detailed the publication of the stress test should be. The FMA currently tests whether the stress test results are stock market relevant, compulsory publications.

July 14, 2010

Stress tests pose problems

Results of stress tests will be published later than expected - assumptions behind tests create uncertainty.

July 14, 2010

Local banks in stress test "within normal range"

OeNB Governor criticizes EU Commission: State aid procedure too long - debt reduction, dampening the economy Austria's banks performed within "the normal range, in midfield," the Governor of the Austrian National bank (OeNB) and Governing Council memb

July 13, 2010

UniCredit's Profumo proposes 20-billion rescue fund

Head of Bank-Austria parent UniCredit, Alessandro Profumo, has announced his ambitions for a privately financed € 20 billion heavy rescue fund for troubled European banks.

July 12, 2010

Transaction tax - OECD European solo attempt

According to Jeffrey Owens, head of the OECD's tax department, a transaction tax only makes sense if it relates to the financial centres on a global scale.

July 12, 2010

Crisis causing private bankruptcy

Unemployment and less income: more than 50,000 people last year turned to a debt counselling bodies.

July 12, 2010

Pröll on economic status quo, "thunder and lightning are over"

The EU has demonstrated that "it is able to act in one of the worst crises, even if there were some mistakes," says Austrian Finance Minister Josef Pröll.

July 12, 2010

Hungarian burden for Austro-banks

Raiffeisen International (RI) CEO Herbert Stepic expressed his concerns during a general conference.

July 9, 2010

Banks swap gold - Caused by Central banks?

European banks have tons of bunkers gold at the "Super Fed" BIS (Bank for International Settlement). But they could have acted only as intermediary.

July 8, 2010

Stress tests - Erste Bank and RZB on the list

91 European banks will have to undergo stress tests of European regulators. Two Austrian institutions will be tested as well.

July 8, 2010

AWD - Commercial Court allows class action

Consumer information association (VKI) goes to court on behalf of 1,300 investors.

July 7, 2010

Hungary rejects amendments to bank levy

At the start of negotiations with the International Monetary Fund (IMF), the Hungarian government ruled out an amendment of the introduction of the controversial bank tax.

July 7, 2010

No share price manipulation in Immoeast, confirmed by court-appointed expert

An investor claimed that the price of Immoeast shares had been inflated manipulative trading activities of former Constantia Privatbank (now Aviso Zeta Bank)

July 6, 2010

Immofinanz - Sale of 55m shares hasn't started

The placement of the 55m Immofinanz shares from settlement with Constantia Packaging has not yet begun as reported in today’s published "Company Flash" of UniCredit.

July 6, 2010

Bank Austria’s Snowball clause illegal

The unilateral termination right of Bank Austria in its "Callable Snowball Floater " is unlawful according to the Supreme Court (OGH).

July 6, 2010

Sale of Innovest is imminent

Beside Raiffeisen there are two other interested parties.

July 5, 2010

Cross Industries AG - Changes in Management Board and Supervisory Board

Mr. Rudolf Knünz resigns from the management board, Mr. Friedrich Roithner will take over the function of CFO.

July 5, 2010

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
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