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

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

Alpine Lands Pipeline Project in Czech Republic

The Austrian construction company is going to build 105.8 km of a new gas pipeline. The contract value is € 76.7m.

May 26, 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

Major Contract for FMW

The Austrian industrial plant manufacturer wins a contract worth € 80m with one of Russia’s leading mining and metallurgical companies. Revenue already doubled to € 65m last year.

May 16, 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

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

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

FACC is Considering Going Public in Asia

The Austrian aircraft component manufacturer could soon be listed on the stock exchange in China.

March 11, 2011

Tourism: Trend for High-Price Segment Continues

Austria's tourism industry shows itself satisfied with the current winter season. Guests come increasingly from Eastern Europe.

March 3, 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

Oettinger Increases Pressure on OMV

In an interview with the daily newspaper "Presse", the European Commissioner for Energy considers that OMV must move now regarding Nabucco.

February 4, 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

Consumption Expenditure of Foreign Tourists Grows

Russian and Chinese tourists are proving to be particularly generous consumers in Austria. Overall sales rose by 23% in 2010.

February 3, 2011

Kapsch TrafficCom with First Contract Award in Russia

The Austrian Kapsch TrafficCom AG announces that its Russian subsidiary has been awarded an order to equip traffic crossings.

February 1, 2011

Strabag: Russia as Growth Driver

For Hans Peter Haselsteiner, CEO of Austria's largest construction group, Poland and Russia offer the best prospects for expansion

January 28, 2011

Leitl Welcomes Medvedev's Idea for a European-Russian Economic Area

Closer cooperation between the EU and Russia would "stabilize economic and social development". Austria's foreign trade with Russia is flourishing.

January 28, 2011

Slight Upward Trend in Austrian Tourism

Tourism in 2010: 0.4% more overnights; all-time-high in number of arrivals.

January 27, 2011

Slow Progress for Nabucco

The negotiations in the Caspian region are "tough", but the political will exists, say sources from the Austrian oil and gas group OMV.

January 26, 2011

Rise in Earnings for Palfinger

The Austrian crane manufacturer records a 29-percent plus in revenues for 2010. For 2011, the company shows an optimistic outlook.

January 25, 2011

Doppelmayr Awarded Major Contract in Sochi

The Austrian Doppelmayr Group has been awarded the contract for a 3S installation (tri-cable ropeway) in the Russian Olympic location of Sochi.

January 20, 2011

Bank Austria: Bank of Moscow is No Longer an Issue

Bank Austria will not submit an offer for the Bank of Moscow, against all market speculations. Instead, it will open its own branches.

January 20, 2011

Austria's Funds Showed a Plus in 2010

2010 was another year of gains for Austrian funds: of 1601 funds, 1464, showed a positive performance.

January 15, 2011

New Charges against Ruttenstorfer

The chairman of Austria's OMV is accused of market manipulation because of an interview.

January 14, 2011

Bank Austria Bids for Bank of Moscow

The UniCredit subsidiary is reported as holding talks with the Bank of Moscow to acquire a 46.5% stake.

January 14, 2011

New Perspectives for Nabucco

The European Commission wants to commit Azerbaijan to supply gas to Europe. This is expected to be done via the Nabucco pipeline.

January 14, 2011

CEE Economic Growth Forecast: 3.8% in 2011

According to UniCredit, especially Turkey, Poland, Czech Republic and Estonia will bounce back impressively due to stronger industry and domestic demand.

January 13, 2011

CEE: Raiffeisen Remains Optimistic

The analysts of the Austrian Raiffeisen International Bank give Austria and the CEE good growth prospects. However, there still remain known risks.

January 12, 2011