Austria and Romania - Read the latest headlines about bilateral relations in the areas of economy, business, investment, diplomacy, culture and tourism
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Romania in Austria | Romanians in Vienna | Bilateral Relations

WKO Export Day in Vienna

On June 20, the Export Day (Exporttag) of the Austrian Chamber of Commerce (WKO) will take place in Vienna. Economic delegates from all over the world will be present.

June 8, 2013

S Immo AG: Green Building Certification And Another Award In SEE

BREEAM certificate and SEE Green Building Award for S Immo properties.

June 4, 2013

Romania: Erste Forecasts Economic Growth at 1.8 Percent

Erste keeps Romania's economic growth forecast for 2013 unchanged at 1.8 %.

June 3, 2013

Romania: No Investors for Post Company

Debts and a collective agreement which makes restructuring impossible until 2018 are among the main reasons the company is not attractive to potential investors.

May 29, 2013

Romania to Enhance Shale Gas Production

Romania has announced to soon launch further tenders to increase the exploration of shale gas.

May 27, 2013

Joint Nabucco-Declaration Signed by Governments

Austria, Hungary, Romania, Bulgaria, Turkey adopt Nabucco joint declaration.

May 22, 2013

Petrom to Invest in Oil Field Redevelopment

OMV Petrom invests € 90m for the Oprisenesti oil field redevelopment.

May 21, 2013

Romania: Significant Decline in FDI

Foreign direct investments in Romania declined 41 percent due to ongoing economic difficulties in Eurozone member countries.

May 17, 2013

Prolongation of Nabucco Exemption Confirmed

National Regulators Confirm Prolongation of Nabucco Exemption

May 14, 2013

US Software Producer Oracle to Invest in Romania

US software producer Oracle will invest approximately € 100m in Romania

May 14, 2013

CEESE: Economic Growth Stagnant

Orban claims Hungary is the country with the highest growth rate in CEE/CESEE next year.

May 10, 2013

Romania Seeks Energy Independence

The Black Sea has huge deposits in gas which Romania wants to use to achieve energy autonomy.

May 8, 2013

Romania: BRD Shows Extensive Decrease Profits

Romania's second-largest bank BRD profit down by 84%.

May 7, 2013

Real Estate Industry: Major Losses for Properties In CESEE

According to Manfred Wiltschnigg, CEO of Austrian Real Estate Agency Immofinanz until the end of March, investments in Poland are becoming more risky.

May 6, 2013

Romania: Confident About Economic Recovery

According to a survey, Romanians are among the most confident citizens in Europe about the recovery of their economy.

May 2, 2013

Romania: US Chevron to Explore for Shale Gas

Chevron gets green light for exploration of shale gas in Dobrogea blocks.

May 2, 2013

Romania: OMV Petrom, Exxon And Transgaz To Team Up

According to Romanian officials, OMV Petrom, Exxon and Transgaz might partner to transport the Black Sea gas onshore.

April 30, 2013

Van Rompuy Encourages Romania to Become Eurozone Member

During his one-day visit to the Romanian capital, President of the European Council Van Rompuy noted Romania’s progress and stressed the importance of a banking union within the Eurozone.

April 26, 2013

Foreign Enterprises Complain About Romanian Policy Making.

Regulations in energy sector were changed overnight.

April 26, 2013

Romania: Criticism from EU for Budget Projection

The EU Commission criticizes Romania’s budget projections for the use of EU funds in the time frame between 2014 and 2020.

April 24, 2013

RBI to Take Over Bank of Cyprus Affiliate?

The Bank of Cyprus has split up with the assets of its Romanian affiliate. Apart from RBI, Banca Transilvania is a potential buyer.

April 18, 2013

Poland: Favorable Forecast Despite of Recession in 2013

Poland’s economy is the biggest among the younger member states and continues to grow even with the current recession.

April 17, 2013

Romania: Surplus € 327m in Balance of Payments

Balance of payments and external debt, February 2013

April 16, 2013

New Fiscal Rules in EU Six-Pack to Benefit CEE5

New fiscal rules should reduce risk of self-defeating austerity. There is no need for CEE countries to raise taxes if they stick to growth-friendly policies and cap real increase of expenditures below 1%.

April 15, 2013

Fitch: Poland Best Placed For Economic Recovery

In a statement regarding a report on the need of structural reforms in the CESEE region, rating agency Fitch awarded Poland the best position for an economic recovery among five countries.

April 9, 2013

VIG: Drastic Downsizing Measures in Romania

Because of increasing losses 450 employees will be made redundant.

April 4, 2013

Romania: Ponta Endorses Regionalization

Regionalization, which is encompassed in the constitutional reforms, is supposed to help improve the administrative situation in Romania.

April 3, 2013

Gazprom to Absorb Romanian Bunkering Operator

Gazprom affiliate Neft Marine Bunker LLC has acquired Romanian Marine Bunker Balkan.

April 3, 2013

Romania: Positive Outlook on Economy for Next Months

For the months of March to May 2013, experts forecast economic growth of up to 35 % in some sectors.

March 29, 2013

"Croatia Will Not Benefit From Joining The EU"

Croatia will join the European Union as the 28th member state in a few months. Economists criticize the country for not carrying out enough reforms and only focusing on tourism.

March 22, 2013

Romania: Pensions Increased by 3.4 %

By a year-on-year basis, pensions in Romania increased in the forth quarter of 2012 by 3.4 % coming up to 786 lei. Out of the total number of pensioniers, 86.1 % receive benefits from the state social insurance.

March 22, 2013

RBI to Acquire More Clients in Romania

RBI (Raiffeisen Bank International) is attaining a portfolio of private clients by Citibank via affiliate Raiffeisen Bank S. A.

March 21, 2013

VBAG is Forced to Continue Radical Downsizing Measures

The partly nationalized and financially stricken Austrian banking group has to implement a painful restructuring concept. At the moment, VBAG sells its properties.

March 15, 2013

Romania: Surplus in Balance of Payments

In January, the balance-of-payments current account posted a surplus of EUR 465 million Y/Y.

March 15, 2013

Romania: Turnover of Market Services Decreased 14.1 % in January

In January 2013, the turnover of market services rendered mainly to enterprises, in nominal terms, decreased compared to the previous month.

March 14, 2013

Eurozone: Cut in Interest Rate Not Necessary

According to govenor of the Austrian National Bank an interest rate cut to improve the economic situation in the eurozone is not required at the moment. UKIP Leader Farage criticizes politicians for denying problems in eurozone.

March 14, 2013

Erste Group to Take over BCR Completely

The Austrian banking group launches a permanent buy-out offer for minority shareholders of BCR.

March 13, 2013

Romania: Construction Output Goes Down

Volume of construction works, series adjusted with the working days number and seasonality, registered a decrease of 2.3% in January 2013, compared to December 2012.

March 13, 2013

S Immo AG: New Contracts in Bucharest and Sofia

New tenants in Serdika/Sofia and Sun Offices/Bucharest. Stock exchange listed S IMMO AG has again achieved letting successes in Romania and Bulgaria – two markets that continue to be economically challenging.

March 12, 2013

Czech Republic: Erste Group Cutting More Jobs

Because Erste Group has to save CZK 1bn (€ 39m) this year, economy measures need to be taken.

March 8, 2013

Austria: RZB About to Take Over Assets of VBAG?

The possible takeover by RZB is still kept in the dark. RBI, however, might absorb Citibank Romania.

March 8, 2013

Recession in Euro-Area Still Affects CESEE Countries

According to the Vienna Institute For International Economic Studies (wiiw), the double-dip recession over, yet there is no economic growht in sight for CESEE countries.

March 7, 2013

Bulgaria/Romania: Schengen-Entry Postponed

The two countries will not become part of the Schengen-zone in 2013. EU interior ministers meet to discuss problem of “social tourism”.

March 7, 2013

Romania: Average Earnings Down Substantially

In January 2013, the average gross nominal earnings were 2138 lei, by 8.7% lower than the one registered in December 2012.

March 7, 2013

Bulgaria: Still Fighting Minimal Growth and Weak Economy

The Balkan country has the lowest living standards in the EU and the population’s frustration over its failure to improve the economic situation led to mass protests.

March 6, 2013

Romania: Slight Increase of GDP for 2012 at 0.1 % on Y/Y Comparison

Record decrease at 24.6 % in agriculture, industrial production better off with decrease of 2.4 %. The highest increase was recorded in IT and communication, services and health/social assistance.

March 6, 2013

Romania/Bulgaria: Germany Plans Veto against Schengen Entry

According to the journal “Spiegel”, the German government does not regard the two countries as Schengen-worthy.

March 4, 2013

Romania: Corlatean Questions Admittance to Schengen-Agreement

Exterior minister Corlatean shows no more interest in Romania’s joining the Schengen-zone. Several member states disapprove of this idea.

March 2, 2013

Romania As Risk Factor for Austria´s Public Finance

The partly nationalized Austrian banking group VBAG faces difficulties in Romania. The Austrian Ministry of Finance tries to prevent further capital injections into VBAG.

March 2, 2013

Romania: Labor Market Situation Improves Slightly

In January 2013, the seasonally adjusted unemployment rate was estimated at 6.6%, decreasing by 0.1 percentage point as compared to the previous month.

March 2, 2013