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Russia in Austria | Russians in Vienna | Bilateral Relations
Austria and Russia - Read the latest headlines about bilateral relations in the areas of economy, business, investment, diplomacy, culture and tourism
VBI Is Now Called Sberbank Europe AG
VBI (Volksbank International), the former Eastern European division of Austrian VBAG was renamed to Sberbank Europe.
November 7, 2012
CESEE: Business Climate Deteriorates
According to OeKB (Austrian Clearing Bank), the economic sentiment in Southeastern Europe is declining. Poland remains the growth engine.
November 7, 2012
Croatia Does not Participate in South Stream Pipeline
The Russian gas pipeline South Stream will not run across Croatia. Initially, Croatia was viewed as transit country.
November 5, 2012
South Stream Pipeline: Gazprom Concludes Contract with Hungary
The Russian energy group Gazprom has negotiated the last conditions of the contract with Serbia and Hungary.
November 2, 2012
„Strengthening Relation with Russia“
Christoph Leitl, President of the Austrian Chamber of Commerce (WKO) argues that Europe must co-operate closer with Russia in order to manage the crisis.
October 25, 2012
Rewe Austria to Expand in Russia
Rewe Austria intends to open ten new stores in Russia per year. Besides Russia, the Ukraine and Romania are main target markets.
October 22, 2012
Austrian Trade with Russia is Booming
This year, the Austrian Chamber of Commerce expects new record results. Above all, South Russia is perceived as future market.
October 18, 2012
RHI Begins to Downsize in Europe
The Austrian refractories company plans to expand in Russia. In Europe, the first factories will be shut down in two years.
October 18, 2012
Stepic: “Must Reduce Lending in CESEE”
The CEO of Austrian RBI (Raiffeisen Bank International) Herbert Stepic explains that new lending in Eastern Europe must be reduced substantially.
October 11, 2012
Belarus Has Lost an Important Source of Export Revenues
The economic prospects for the Belorussian economy are bad. The ruble will have to devalue. External support will be necessary, the Centre for Eastern Studies says.
October 5, 2012
Austrian Trade with Russia Reaches New Record
This year, bilateral trade with Russia will reach about € 7.0bn. President of the Austrian Chamber of Commerce Christoph Leitl wants to strengthen foreign trade with Russia.
October 4, 2012
EU as „Serbia´s Most Important Market“
The U.S. economist Paul Krugman thinks that Serbia´s future is the European Union. The EU is worried about the turn towards Russia.
October 4, 2012
Raiffeisen: CEE Network to be Closed
Austrian RBI (Raiffeisen Bank International) announces that the expansion in Central and Eastern Europe will be concluded soon.
October 1, 2012
CEE Equity: RBI Cautiously Optimistic
RBI forecasts a slight increase in yields for Poland, Hungary, Russia and the Czech Republic. Austrian ATX should grow moderately in the next 12 months.
September 28, 2012
CEE Remains Europe’s Growth engine Despite Slow-Down
CEE with 2012 GDP growth of 2.4 per cent – GDP in Eurozone to shrink to minus 0.5 per cent in 2012 . In terms of reforms, CEE tops Eurozone peripherals
September 28, 2012
Austrian State Secretary meets Russian Deputy Foreign Minister Titov in Moscow
Lopatka “Relations with Moscow are rooted in solid ground in all fields and are continuously expanded”
September 24, 2012
Total, OMV and Repsol pay € 48m for Test Drillings in Bulgaria´s Black Sea
Bulgaria wants to reduce its dependence on Russian energy. The consortium has paid € 48m to Bulgaria.
September 22, 2012
VBAG to Cut More than 1,000 Jobs
Today, the Austrian problem bank announced to sharpen its austerity program radically. Until 2017, VBAG must be downsized to the half of its current size.
September 21, 2012
Volksbank International AG (VBI) Enlarges Managing Board
Thoralf Arlt and David O’Mahony are appointed to the VBI Board by RussianSberbank.
September 21, 2012
Serbian EU Approach Endangered
The Serbian government rejects making concessions to Kosovo. The EU accession may be damaged, however.
September 19, 2012
Czech Republic: Exports to Russia Reach new High
In 2012, the exports to Russia are estimated to surpass € 4.6bn. This would be a new record.
September 15, 2012
Takeover of OMV´s Petrol Stations: INA Faces Legal Restrictions
The Austrian OMV Group plans to withdraw from Croatia and Bosnia. The Croatian subsidiary of MOL is interest in OMV´s petrol stations, but may face legal restrictions from a competition law point of view.
September 7, 2012
Croatian INA Submits Offer to OMV
Austrian OMV sells its petrol station business in Croatia and Bosnia. The Croatian subsidiary of Hungarian MOL has submitted a binding offer.
September 5, 2012
OMV and Total Start Gas Drillings in Bulgaria´s Black Sea
Bulgaria wants to reduce its dependence on Russian energy. Together with the French Total Group and the Spanish Repsol Group, Austrian OMV begins test gas drillings in the Bulgarian Black Sea.
September 1, 2012
Spindelegger Welcomes Russia’s WTO Accession
Austrian Foreign Minister Michael Spindelegger underlines Russia´s importance for the domestic business location.
August 30, 2012
VIG Withdraws from Russia
Vienna Insurance Group concludes sale of holdings in Russian Insurers MSK Life, SG MSK and SoVita.
August 29, 2012
Croatia Said to Become Part of South Stream Pipeline
Good news for Croatia: Gazprom and Plinacro are said to have agreed on a natural gas pipeline across Croatia. The pipeline may enhance employment and reduce natural gas costs.
August 27, 2012
Strabag: CEO Haselsteiner Is Said to Consider Delisting
The Austrian construction group Strabag may withdraw from Vienna Stock Exchange. “We do not need the stock exchange now.” He says in an interview with “Wirtschaftsblatt”.
August 27, 2012
VIG Aims to Expand in Poland
Vienna Insurance Group is interested in the Polish subsidiaries of ING and Aviva. However, there are no sales plans yet.
August 23, 2012
Global Increase in Direct Investments made by Austrian Companies
In addition to CEE/SEE countries, growth in Austrian direct investments was also seen in Germany, Russia and Turkey.
August 21, 2012
South Stream Pipeline May Run Across Croatia
Instead of Hungary, the pipeline project South Stream may pass through Croatia. Gazprom currently negotiates with the Croatian operator Plinacro.
August 20, 2012
Bank Austria as UniCredit´s Cash Cow
Without Bank Austria, UniCredit would have been in the loss area. The CESEE region is still Bank Austria´s future market.
August 4, 2012
RBI: Bad Development in Hungary
Herbert Stepic, CEO of Raiffeisen Bank International expects that the development of non-performing loans is stable this year.
July 21, 2012
Austerity Program at RBI
Raiffeisen Bank International´s CEO Herbert Stepic is against a capital increase. The market conditions would be unfavorable.
July 20, 2012
Kapsch TrafficCom: Rise in Revenues Ahead
Analysts expect the Austrian IT company to record a substantial increase in revenues. The earnings are different.
July 16, 2012
Bank Austria: Major Investment at Russian Subsidiary
UniCredit Group increases the equity base of the Russian subsidiary.
July 14, 2012
Sberbank to Provide € 300m for VBI
The Russian Sberbank intends to inject € 300m into the Austrian VBI (Volksbank International). Growth into the CEE region should be promoted.
July 13, 2012
Germany Still Biggest Investor in Austria
For years, Germany leads the ranking of foreign investors in Austria. The Northern neighbour country is followed by Switzerland, Italy, the Netherlands and the U.S.
July 9, 2012
Austria Remains One of the Biggest CESEE Investors
Austria is still an important net investor in Central, Eastern and Southeastern Europe. However, the global importance of the region did not increase.
July 6, 2012
Active Direct Investments Higher than Passive Direct Investments
Austrian enterprises make more investments abroad than foreign countries do in Austria, Austrian Central Bank announced.
July 5, 2012
CEE Defies Turbulences in the Eurozone
GDP in CEE expected to grow 2.6 per cent in 2012 – eurozone expected to shrink by 0.3 per cent. Growth forecast for Austria’s GDP at 0.7 per cent in 2012
July 5, 2012
Voestalpine to Put Effort into Growth
The Austrian steel producer intends to grow through acquisitions again in the medium term. Exports to Brazil and Asian countries should be promoted.
July 4, 2012
„Up to 70% of European Steel Capacities are Endangered“
Wolfgang Eder, CEO of Austrian voestalpine, thinks that the European steel industry faces fierce competition from the East.
July 3, 2012
Austria´s Exports to Asia on the Rise
Last year, Austrian exports totaled € 122bn. Above all, exports to emergin markets Brazil, India and China are growing.
June 21, 2012
Shopping Center Industry Sees Still Growth Potential in CESEE
In 2012, about 300 further shopping centers should be built in the CESEE region. The market still shows a great potential, experts say.
June 20, 2012
VIG to Invest in CEE Real Estate
The Vienna Insurance Group intends to invest more in real estate. „Central and Estern Europe is more interesting for us.“ CEO Peter Hagen says.
June 20, 2012
Nabucco: EU Commission is in Doubt
The Commission of the European Union emphasizes that Nabucco is still an option. Nevertheless, there would be cheaper options.
June 18, 2012
Major Loss at VBI
The Sberbank-owned Volksbank International (VBI) recorded a net loss of € 95.5m last year.
June 15, 2012
OMV Negotiates Petrol Station Sale with Russian Zarubezhneft
The Austrian oil and gas group OMV intends to sell its petrol station network in Croatia and Bosnia. The Russian Zarubezhneft seems to be interested.
June 12, 2012
Austerity: „There is No Alternative“
The former director of the Austrian Institute of Advanced Studies appreciates the help for Spanish banks and thinks that a Greek exit is rather unlikely.
June 12, 2012
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