Vienna International Professional Services Industry News
Read the latest headlines about developments in the international service industry in Vienna and Austria
Atrium Reacts Sharply to Meinl´s Lawsuit
Atrium European Real Estate Ltd comments the recent lawsuit by Meinl Bank: “A desperate response.”
December 31, 2010
Kovats also Suffers Private Plight
The chairman of the insolvent A-Tec, Mirko Kovats, has to grant Raiffeisen liens on his personal properties
December 31, 2010
Immofinanz Sues Lobbyist
The Austrian real estate group Immofinanz sues its former adviser, Walter Meischberger, because of the "Buwog Affair".
December 30, 2010
Record performance for the ATX
The main index of the Vienna Stock Exchange managed to get into a top position in international comparisons. The losses caused by the crisis could be partially offset.
December 30, 2010
Analysts Expect ATX to Underperform in January
The main index of the Vienna Stock Exchange experienced a strong rally in December. Thus, ATX outperformed compared to other European indices.
December 30, 2010
ÖVAG: Sales Process of East-holding is Under Way
For the coming year, the Austrian Voksbanken are planning to restructure the Group. A buyer is currently being sought for the East-holding.
December 30, 2010
Meinl Starts New Actions against Atrium
The exchange of blows between Meinl Bank and Atrium is getting more violent. Meinl Bank is presently filing a claim before the Arbitration Court of the Economic Chamber.
December 29, 2010
Bank Austria CEO Cernko: Austrian Banks Fight Securities Tax
The CEO of Bank Austria, Willibald Cernko, was interviewed by the newspaper “Kurier”. He announced that Austrian Banks will call the Constitutional Court.
December 29, 2010
ATX Forecast 2011: High Yields, High Volatility
RLB Niederösterreich-Wien predicts a very good year for security investments and expects double-digit yields.
December 29, 2010
Profits Increase for Banks in Austria
The profitability in the first three quarters of 2010 of Austrian banks shows continued strong growth.
December 29, 2010
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
Garage Operator Company List Expands to Hungary
The Vienna-based List Group, which acts as real estate company, acquired the Wipark Group in Hungary.
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
HTI Gets New Financing Structure
The stock exchange listed automobile supplier HTI ends its moratorium. Of € 140m original debts, € 104m are left.
December 27, 2010
Higher Bank Tax for Bank Austria
The UniCredit-subsidiary Bank Austria will have to pay a bigger amount of the bank tax in 2011. The contribution in the following year decreases.
December 27, 2010
Analysts Predict Good Year for ATX
According to analysts, the Vienna Stock Exchange will experience a favourable performance in 2011. However, 2011 won´t surpass 2010.
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
Raiffeisen Negotiates over Polbank
The Austrian Raiffeisen Bank International (RBI) negotiates actively for the Polish Polbank.
December 23, 2010
Vienna Stock Exchange: Winners and Losers (2010-12-23)
Daily News-Flash from the Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.
December 23, 2010
Vienna Insurance Group Expands in Macedonia
Vienna Insurance Group granted life insurance licence in Macedonia. The project will be started with the Austrian bank Erste Group.
December 23, 2010
Good Prospects for the Vienna Stock Exchange
According to the analysts, the upward trend due to good economic data and corporate earnings on the Vienna Stock Exchange will continue.
December 22, 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
Vienna Stock Exchange: Winners and Losers (2010-12-22)
Daily News-Flash from the Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.
December 22, 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
Austrian Supervisory Boards Come Out Favorably in Worldwide Comparison
According to a KPMG study, Austrian supervisory board members are informed timely and sufficiently about in-house operations.
December 21, 2010
Vienna Stock Exchange: Winners and Losers (2010-12-21)
Daily News-Flash from the Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.
December 21, 2010
Bank Austria-Fund “Real Invest Europe” Opens as from 21 December 2010
Revaluation of property portfolio complete. Commercial property in Stuttgart sold at market price.
December 21, 2010
Meinl against Atrium: Up to 7,000 Lawsuits
The Austrian bank files lawsuits against the successor company of her former real-estate funds MEL.
December 20, 2010
New Project in Poland for Atrium
Atrium strengthens polish portfolio with € 168.5m acquisition of a shopping centre in Warsaw.
December 20, 2010
Immofinanz Records Increasing Revenues and Earnings
Revenues of the Austrian Real Estate Company were up by 3.3%. EBIT increased by 19%.
December 20, 2010
Vienna Stock Exchange: Winners and Losers (2010-12-20)
Daily News-Flash from the Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.
December 20, 2010
FMA: Solid Performance of Austrian Pension Funds
The Financial Market Authority (FMA) publishes a report on the Austrian pension funds. The performance is diverse. .
December 17, 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
Vienna Stock Exchange: Winners and Losers (2010-12-16)
Daily News-Flash from the Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.
December 16, 2010
Russia Reaches for Volksbank International
VBI, the holding company for the Eastern interests of the Österreichischen Volksbanken, is for sale. Russian parties are interested.
December 15, 2010
Allianz: Austria's Economic Production has Reached Pre-crisis Level in 2011
Strong exports and government stimulus programs enabled growth. Despite public savings constraint, Allianz expects further upward trends.
December 15, 2010
Growth Trends in Austria's Insurance Industry
The FMA report for the 3rd quarter of 2010 indicates a light growth trend for the Austrian insurance industry.
December 15, 2010
Vienna Stock Exchange: Winners and Losers (2010-12-15)
Daily News-Flash from the Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.
December 15, 2010
OeNB: Recovery of the Financial System in a Persistently Uncertain Environment
The OeNB considers that domestic banks benefit from the positive development in the CEE region. However, uncertainties stay on as before.
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
Complaint of Unconstitutionality against Securities Capital Gains Tax
Austria banks and investment companies file a complaint before the Constitutional Court against the as of next year introduced tax on securities capital gains.
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
Vienna Stock Exchange: Winners and Losers (2010-12-14)
Daily News-Flash from then Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.
December 14, 2010
Extensive Refinancing Needs by Austrian Banks
Due to the maturity of large loan volumes, Austria's banks will need at least € 20bn next year.
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
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
Vienna Stock Exchange: Winners and Losers (2010-12-13)
Daily News-Flash from the Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.
December 13, 2010
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