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Russians and People of CIS Countries in Vienna | Russia in Austria

S&T Deeper in the Red

The IT service provider recorded higher losses in the first six months of 2011. The Austrian workforce has been reduced by one third since October.

August 10, 2011

Martin Schwedler Appointed CEO of Raiffeisen Investment in Moscow

The previous board member of RIAG will focus on expanding the Austrian bank’s presence in Russia’s growing M&A and ECM business.

August 1, 2011

Immofinanz Generated New Funds in Russia

The Austrian real estate company reached an agreement on the refinancing of its logistics center in St. Petersburg. The new funds will be invested in further projects in Russia.

July 21, 2011

New Attempt for Oil Pipeline Bratislava – Schwechat

New impetus for the Austro-Slovak infrastructure project: The pipeline would link OMV to the Russian network.

July 20, 2011

VBAG and Sberbank Agree on Sale of VBI

After several months of negotiations the two banks have agreed on the main conditions of the sale of Volksbank International. The deal will be closed by the end of this year.

July 15, 2011

Volksbanken Group Speeds Up Sale of VBI

In the face of the looming negative result of the stress test, the Austrian bank is trying to conclude negotiations with Russian Sberbank.

July 13, 2011

Palfinger Takes Over Russian Inman

The Austrian crane manufacturer acquires its leading Russian competitor. Inman will generate revenue of € 20m this year.

July 11, 2011

Austrian Companies to Participate in Russian Research Center

The planned technology park will be home to up to 40,000 researchers. Twenty Austrian companies have expressed interest in participating in the project.

July 5, 2011

Sale of VBI to Be Signed in July

The Austrian Volksbanken Group and Sberbank have come close to an agreement on the sale of the Eastern European bank. The transaction price will be € 700m.

July 5, 2011

Kapsch TrafficCom Makes Important Step in Russia

A joint venture of the Austrian technology group has made it to the final stage of a tendering process for a Russian highway project.

July 1, 2011

EU Commission Blocks OMV’s Deal with Gazprom

The Austrian oil and gas company does not get its desired Russian partner as the EU Commission has rejected a share transaction between the two companies.

June 20, 2011

Raiffeisen Expanding Its M&A Business in Russia

The Austrian bank group is planning a joint venture between RBI and RIAG in order to put the investment banking in Moscow on a new footing.

June 16, 2011

Shopping Tourism: Asian Visitors Spending Heavily

Russia remains the top shopping nation while Asian tourists' spending is increasing significantly.

June 14, 2011

Nabucco Legal Framework Finalized

Project support agreements were signed by each transit country. They are a prerequisite for the successful financing of the pipeline.

June 8, 2011

Immofinanz Considering Listing in Warsaw

The Austrian real estate group would be interested in a listing if red tape were reduced. It is currently looking for acquisition opportunities in Poland and Russia.

June 7, 2011

Nabucco Receives Further Support by Transit Countries

Five countries are going to sign an agreement on the realization of the infrastructure project. Works are scheduled to start in 2013.

June 1, 2011

AUA Give Up Their Focus on CEE

Austrian Airlines are going to improve their connections to Western Europe at the expense of their destinations in the East. The company is currently serving 46 airports in CEE.

May 30, 2011

Sberbank Targeting RBI

The Russian bank intends to expand its business to Kazakhstan and the Baltic countries. Both companies denied speculations about a potential capital injection.

May 30, 2011

OeKB Facilitates Austro-Russian Projects

A recently signed agreement will increase the cooperation between OeKB and Russian Vnesheconombank.

May 27, 2011

Eastern Europe Becoming Attractive Again

For two years Austrians have abstained from investing in Eastern Europe, resulting in a loss of market share in these countries. Interest starts to recover now.

May 25, 2011

Novomatic Returns to Russia

The Austrian gaming machine manufacturer intends to cooperate with a Russian casino operator after it had to pull out of the country in 2009.

May 23, 2011

OMV Considering Closer Cooperation with Azerbaijan

The Austrian oil and gas group is in talks about investments in the oil-rich country which is an important supplier for Nabucco.

May 20, 2011

Austrian Companies Are Looking for Opportunities in Russia

A delegation of 140 people pursues contacts with potential partners during the state visit of President Fischer. The country’s economy is predicted to grow by 4% in 2011.

May 19, 2011

Immofinanz Closes Acquisition in Moscow

The Austrian real estate group takes over 100% of the GoodZone.

May 11, 2011

Nabucco Announces Further Delay of Pipeline Project

Nabucco Gas Pipeline International GmbH today announces a revised timeline for the Nabucco pipeline project., which is due to a lack in suppliers.

May 6, 2011

Is Nabucco Turning into a Cost Trap?

The Nabucco gas pipeline could be twice as expensive as previously planned, according to sources from Turkey.

May 6, 2011

Immofinanz Strives for Presence in Russia

The Austrian real estate group plans to expand its activities further through the purchase of shopping centers in Moscow.

May 3, 2011

Tondach Gleinstätten is Awarded Exclusive Contract in Russia

Tondach Gleinstätten AG is awarded the contract for the supply of roofing materials for the Olympic project "Sochi 2014”

May 3, 2011

S&T Announces Group Results - Down in the Red

Consolidated revenues of the S&T Group in 2010 amounted to € 351 m, down from € 385 m in the previous year.

April 30, 2011

According to its Employees, S&T is “Ripe for Bankruptcy"

The leadership of the troubled Viennese IT company is trying to hide an impending bankruptcy according to the company’s employees.

April 27, 2011

Eastern Europe as Growing Market for Austrian Wine Exports

Around 80% of the Austrian wine exports are going to Germany. However, growth rates in Russia and Poland are surprisingly high.

April 23, 2011

Real Purchasing Power: The Gap Between Austria and the CEE Region is Getting Smaller

For the coming years, a steady rise in unit labor costs in the CEE countries with the corresponding impact on the competition for business locations is expected.

April 16, 2011

Founding conference of the “CESEE Insurance Supervision Initiative” in Vienna

The “CESEE Insurance Supervision Initiative” is holding its founding conference today and tomorrow in Vienna.

April 16, 2011

Russia is a New Promising Market for Kapsch

The Austrian technology group has reaped its first contract in Russia. The market has great potential, according to sources from Kapsch.

April 12, 2011

Economic Growth in CEE and Austria Remains Solid

Concerning the equity markets as well as the economic circumstances, Raiffeisen Research is quite optimistic. In 2011, a further economic recovery is expected.

April 6, 2011

Mitterlehner: New Modernization Partnership Concluded with Russia

Minister of Economy: Investment opportunities for companies boost exports to Russia: innovations and new technologies as growth drivers.

April 1, 2011

VIG Leaves Russia

The Austrian Vienna Insurance Group accepts the offer to sell its Russian insurance participations.

March 31, 2011

RLB Upper Austria Intends to Grow in Russia

The regional bank Raiffeisenlandesbank Upper Austria (RLB) purchased a 2.95% share in the South Russian Krayinvestbank in Krasnodar.

March 14, 2011

Henkel CEE grows in Eastern Europe

The German company, which has set up its Eastern European headquarters in Vienna, achieved a sales increase of 6%.

February 26, 2011

VBI: Purchase by Sberbank is Looming

The sale of the Eastern European holding company of the Austrian ÖVAG is taking shape. Even Chinese investors are interested.

February 25, 2011

Agrana Expands in Russia

The Austrian sugar and starch company invests € 27.6m in fast-growing Russian market.

February 23, 2011

Southstream: Gazprom-OMV Cooperation

OMV and Russian Gazprom will work together on the construction of the Austrian part of the Southstream pipeline.

February 22, 2011

Knill Group Builds Factory in Russia for € 50m

The Austrian construction group records an order over € 50m for the establishment of the first optical fiber plant in Russia.

February 20, 2011

EU Requests Nabucco to Enter a Cooperation

The European Union is pushing a merger between Nabucco and the ITGI pipeline project.

February 18, 2011

Upward Trend for CEE Insurance Stocks

CEE insurance stocks to get a boost from rising profits, cheap valuation and stronger investor demand.

February 10, 2011

Strabag: Poland as a Replacement for Russia?

Sales of the Austrian construction company in Russia are slow in coming. Instead, other growth regions could be pushed.

February 9, 2011

Business Climate Improves in Eastern Europe

According to the Austrian Kontrollbank (OeKB), the Business Climate Index has risen in Eastern Europe for the seventh consecutive time.

February 9, 2011

Rising Bankruptcy Fears in Eastern Europe

The Austrian Creditor Protection Association “Creditreform” foresees a further rise in bankruptcies in Eastern Europe. The economic crisis is not over yet.

February 9, 2011

150 New Bank Austria Branches in Eastern Europe

The new board of the CEE Division of Bank Austria presented the group's expansion plans for Eastern Europe. By 2015, 900 branches are to be added.

February 9, 2011

Investments in Renewable Energies in the CEE are booming

According to a study by TPA Horwath, Austrian companies will expand massively their involvement in the field of renewable energies in the CEE region.

February 4, 2011