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Vienna International Professional Services Industry News
Read the latest headlines about developments in the international service industry in Vienna and Austria
Hypo Group to Shut Down Subsidiaries in Italy
Until the end of this year five subsidiaries in Italy will be closed.
May 6, 2014
Agenda Austria 2020: Economy = State
The think tank Agenda Austria 2020 is currently tackling the question what the “economy expects from the state”.
May 5, 2014
Austria: Calls for More Competence in Real Estate Management Become Louder
Stock Exchange Guru Alexander Proschofsky and real estate expert Peter Hohlbein are fighting for a seat at Conwert’s administrative board. Proschofsky has been criticizing the strategy of the listed Austrian real estate company.
May 5, 2014
Hypo Group: Shady Deals with Balkan Diplomats
The Austrian problem bank Hypo Group has troubles recovering debts.
May 3, 2014
Bulgaria: Banking Sector Getting Back on Feet Again
In the first quarter this year profits of the Bulgarian banking sector grew by 34 percent.
May 2, 2014
Bank Austria: “Russia is Still Profitable”
According to Vice CEO of Bank Austria and head of business operations in CEE Gianni Franco Papa, business in Russia is not yet affected by the political crisis in Crimea.
May 2, 2014
Slovenian Banka Celje Needs Further State Aids
Because of the failed capital increase in the amount of € 160m, Banka Celje is requiring further state capital.
May 2, 2014
Austria: Hypo Group Investigation Committee to be Established?
Will the Austrian government soon give in to establishing an investigation committee for problem bank Hypo Group?
May 2, 2014
Fitch Upgrades Rating for Slovenia
Fitch Ratings has revised the Outlook on Slovenia's Long-term foreign and local currency Issuer Default Ratings (IDR) to Stable from Negative and affirmed the IDRs at 'BBB+'.
May 2, 2014
Austria: Hypo Reveals Profit Losses
The Austrian branch of Hypo Bank, which was privatized last December and is going to be renamed to Austrian Anadi Bank, has published the annual financial report for the year 2013.
April 30, 2014
Austria Gives up Bank Secret for United States
Austria and the US have signed an agreement for the exchange of fiscal data. However, the agreement could be renewed soon.
April 30, 2014
Poland: Bank BZ WBK Expects High Growth of Profit
The Polish affiliate of Spanish Banco Santander, Bank BZ WBK, expects net profits in 2014 to increase compared to last year’s volume.
April 30, 2014
Austria: Industrial Production with Growth Potential
Austrian industry continues to grow - but somewhat less dynamically than at the turn of the year.
April 30, 2014
Hypo Group Further Losses to Be Expected
Huge losses by the sale of the SEE banking network could be expected.
April 30, 2014
Immofinanz: Changes at Executive Board
Immofinanz – Dietmar Reindl appointed to the Executive Board
April 30, 2014
EU Enlargement: A Success Story for Central Europe
Austria is one of the main beneficiaries of the EU enlargement of 2004.
April 30, 2014
Erste Group: Dramatic Profit Decline Stayed Away
Net profits amounted to EUR 103.3 million. Erste Group aims to keep profits stable in the near future.
April 30, 2014
Situation for Austrian Banks in Russia is “Sensitive”
According to the latest statistics, Austrian banks are considerably more engaged in Russia than assumed so far. Debts to domestic financial institutes amount to € 50bn.
April 29, 2014
Spindelegger: “Arsonists Are to Blame Not Fire Brigade”
The downsizing of ailing bank Hypo Group Alpe Adria is a heavy burden for this year’s budget. According to Finance Minister Spindelegger, the deficit comes at 2.7 percent of GDP while public debts will soar.
April 29, 2014
Polish Banking Sector: “Too Early for Recovery”
The Polish banking sector has to be patient for economic recovery to show on their results.
April 29, 2014
Austrian Banking Sector Making Losses
For the first time in 2013, the Austrian banks made losses in the amount of € 1.035bn.
April 29, 2014
Hypo Group: Huge Burden for Austrian Budget
The downsizing of problem bank Hypo Group Alpe Adria is a huge burden for this year’s budget.
April 29, 2014
Hypo Group: Already a “Catastrophe“ in 2006
In the court proceedings against the former member of the supervisory board of regional lender BayernLB former head of Hypo Group’s board Wolfgang Kulterer called the situation Hypo was in a “catastrophe”.
April 28, 2014
Banks Still Losing in Trust
The trust in banks is continuing to decline. The scepticism towards the financial branch has increased among 39 percent of Austrians while trust in banks only increased among five percent.
April 28, 2014
Austria: Is Spindelegger Suitable as Finance Minister?
On Tuesday the Austrian Finance Minister will hold his first budget speech. Initial figures reveal record debt levels.
April 28, 2014
Real Estate: Buwog Shares Taking Off
The highly anticipated primary listing of residential real estate affiliate of listed Immofinanz, Buwog, will be completed on Monday.
April 28, 2014
Russia: Austrian Banks Demonstrate Serenity
Austrian banks try to take the downgrade of Russian sovereign bonds with composure. According to spokespersons, the downgrade has no danger potential.
April 26, 2014
RBI Gets Rid of Public Shareholder
After tough negotiations with the Austrian financial market supervision, the Vienna-listed CESEE lender Raiffeisen Bank International repays about the half of the participation capital.
April 25, 2014
Raiffeisen Bank International AG - SWOT Analysis & Company Report May 2014
This new report contains in depth information and data about Raiffeisen Bank International AG and its operations and markets. It contains an overview, business and strategy description, financial ratios, valuation & forecast data and a SWOT analysis.
April 25, 2014
Austria: Bank Levy Begins to Wobble
Austria´s Minister of Economics Reinhold Mitterlehner proposed to reduce the bank levy. The coalition partner, the social democrats, is surprisingly open to talks.
April 25, 2014
Austrian Public Debt Almost at 80% of GDP
The Austrian public debt burden will reach a new all-time high at the end of the current year. The challenging fiscal situation is partly attributable to the capital injections into Hypo Group Alpe Adria.
April 24, 2014
Do Taxes Justify a Relocation of Business?
Tax sensitive business operations should be relocated to other areas if necessary, according to the head of Erste Bank Austria.
April 24, 2014
Buwog Soon to be Listed at Three Stock Exchanges
Immofinanz‘ residential real estate affiliate Buwog will celebrate its IPO at the stock exchanges in Frankfurt and Vienna on Monday, April 28 and in Warsaw on Tuesday, April 29.
April 24, 2014
Austria: Difficult Market Situation for Selling Bawag
The selling of Bawag PSK proves difficult for its owner which is why an IPO is considered a realistic phasing-out scenario. However, experts doubt that an IPO will be a “highflyer”.
April 24, 2014
Poland: BNP Paribas Bank Polska Hopes for Higher Profits
Because of the merger with BGZ Bank BNP Paribas Bank Polska, the Polish branch of the French financial giant, expects a growth of return on equity (ROE) in the double-digit figures.
April 24, 2014
Eder: Policy-Makers Have to Make Decisions
Wolfgang Eder, CEO of Austrian steel manufacturer voestalpine, claims not to have heard anything from the Austrian policy makers after he raised criticizm with regard to the Austrian business location.
April 24, 2014
Romania: BRD Group Societe General with High Expectations
The Romanian lender intends to increase its lending by four percent in 2014.
April 23, 2014
Slovenia: List of Debtors of NLB Published
The Slovenian bad bank BAMC (Bank Asset Management Company) has published the list of debtors of the country’s two largest banks, which are responsible for the disaster of the state-controlled banks.
April 23, 2014
Struggling Insurance Industry
Despite favorable results last year the European insurance market has to face a number of adverse factors.
April 23, 2014
Poland: Costs for Banking Services Rising Dramatically
The banking fees in Poland saw a dramatic increase in the second half last year.
April 23, 2014
Austria: Bawag to Go Public?
Bawag PSK is likely to go public, as reported by Bloomberg.
April 23, 2014
Austria: Calls for Reduction of Bureaucracy Become Louder
Bureaucratic hurdles burden the Austrian enterprises the most apart from taxes and other levies.
April 23, 2014
Austrians Cautiously Observant
Despite economic recovery the Austrian citizens are still cautiously observant.
April 22, 2014
Serbia: Key Rate Kept Unchanged.
The NBS (National Bank of Serbia) decided to keep the policy rate unchanged as there is no threat of inflation.
April 22, 2014
Austria: Hypo Commission Costs Less than Anticipated
Irmgard Griss, head of the investigation commission appointed by the Finance Ministry with regard to Hypo Group Alpe Adria’s nationalization, announced wanting to leave the decision about the costs with the government.
April 22, 2014
Business in Ukraine Becomes More Riskful
Insurance companies warn export companies that wanting to arrange for insurance of defaults in payment obligations or political unrest right now is coming too late.
April 22, 2014
Austrian Banking Sector: Less Banks, More Employees
Since 2000, the number of employees was up by 2,600 in the Austrian banking industry. In the same period, 165 bank shops were closed. Nevertheless, Austria is still over-banked.
April 22, 2014
Romania: Huge Increase in Commercial Real Estate Investments
Investments in commercial real estates rose by 256 percent year-on-year in Romania. However, investments in CEE declined.
April 18, 2014
Discrepancies on Austrian Real Estate Market
Because of the high rents the city of Vienna intends to do away with location premiums. Listed real estate company Conwert announced raising its rents by May 1.
April 18, 2014
Austria: Branch Network of Raiffeisen Shrinking
Because of the high number of mergers, the number of branch shops of Raiffeisen Group is dropping. However, the Austrian lender still has a market share of 43 percent.
April 18, 2014
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