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Austria and Turkey - Read the latest headlines about bilateral relations in the areas of economy, business, investment, diplomacy, culture and tourism
Turkey in Austria | Turks in Vienna | Bilateral Relations
CEE Investments Recommended
According to Erste Group, equities to become more attractive in 2012 compared to 2011. Turkey is seen as highly interesting investment location.
January 4, 2012
Bank Austria Reviews Strategy for CEE
In its expansion strategy, the bank focuses on four countries. Plans for Hungary and Romania are stopped, up to 450 jobs will be cut.
December 17, 2011
Increasing Gap in Incomes
Although Austria´s Gini coefficient is relatively low, the gap between high and low incomes becomes larger.
December 6, 2011
Jobs to be Cut at Bank Austria
After the announcement of high write-offs yesterday, the Austrian subsidiary of UniCredit will reduce its staff from 10,800 to 10,000 by 2015.
November 15, 2011
Stable Results for Mayr-Melnhof
The Austria cartonboard producer announces rising sales, earnings and profits. However, the outlook is less optimistic. Mayr-Melnhof sees declining margins.
November 15, 2011
Raiffeisen's Comment on Current Developments of CEE Eurobonds
Eurobond markets felt the deteriorating market sentiment in recent weeks, reported Raiffeisen Research.
October 18, 2011
Do & Co Expands in Ukraine
The Turkish-Austrian catering company provides its services also in Ukraine. Here, CEO Attila Dogudan expects further growth opportunities.
October 18, 2011
OMV Promotes Nabucco Project Abroad
The Austrian oil corporation OMV pushes the gas pipeline project Nabucco in Turkey, Azerbaijan and Turkmenistan.
October 11, 2011
BP Plans Rival Project to OMV´s Nabucco
The British Petrol Corporation intends to open up new gas fields in the Caspian region. BP is thus a new competitor for the Austrian OMV.
September 27, 2011
“Austrian Exports to Turkey to Double“
According to the Austrian Chamber of Commerce in Istanbul, Austrian companies could benefit strongly from the persisting economic boom in Turkey.
September 26, 2011
OMV Strategy Update: “Profitable Growth”
OMV is hosting a Capital Markets Day and Media Summit in Istanbul to present an update on its strategy. The Strategy builds on growing OMV’s upstream portfolio, on expanding its integrated gas business and on restructuring the oil downstream segment
September 21, 2011
Andritz to Supply Hydropower Equipment to Norway´s Statkraft
The Austrian Andritz Hydro has received a major order from Çetin Enerji A.S., a subsidiary of Norway's state owned electric utility company Statkraft,
September 21, 2011
OMV Publishes New Strategy
Gerhard Roiss became CEO of the Austrian OMV six months ago. This week, Roiss will present the company´s strategy at the capital market´s day in Istanbul, Turkey.
September 19, 2011
CEE Economic Forum: Green Trends for Eastern Europe
In 2011, Forum Velden in Carinthia celebrates its 5th anniversary. Since its foundation in 2006, over 1.500 experts, top-managers and politicians from over 25 countries have participated in the Forum.
September 7, 2011
Constantia Flexibles Acquires Turkish Asaş
The subsidiary of Constantia packaging took over 93% of the Turkish company. The deal has already been approved by the cartel authorities.
August 11, 2011
Atrium Executes Settlement Agreement with Multi Investment
As a result of the agreement, the American-Israeli real estate fund will receive net cash of € 64m and generate a profit of € 156m.
July 15, 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
New Chance for Verbund in Turkey
The Austrian electricity company might win a contract for the power supply in three Turkish provinces after a competitor has withdrawn its bid.
June 6, 2011
OMV: New CEO and Organizational Structure of Its Turkish Operations
Gülsüm Azeri is going to succeed Melih Türker as CEO of the Austrian oil and gas group’s Turkish operations.
May 25, 2011
Austrian FDI: 2010 Was a Year of Stabilization
Active foreign direct investment increased, while inward flows stagnated in 2010. Turkey was the top destination for Austrian investors.
May 18, 2011
OMV Announces Launch of Rights Issue
The Austrian oil and gas group issues up to 27,272,727 new shares. Proceeds will be used for the refinancing of the acquisition of a major stake in Petrol Ofisi.
May 16, 2011
WIFI International: Partnership with TOBB University of Ankara
The Austrian (WKÖ) and the Turkish (TOBB) Economic Chambers have signed a Letter of Intent for an educational partnership with WIFI.
May 11, 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
CEO Roiss: "Gas and Oil Remain the Core Business"
Renewable energies are already part of the program of OMV, said Gerhard Roiss. However, oil and gas will dominate in Europe until 2020.
May 5, 2011
Leitl: "Austria was the Largest Investor in Turkey in 2010"
WKÖ President Leitl pointed to the intense economic links between the two countries during the state visit of Turkish President Abdullah Gül to Austria.
May 4, 2011
GATX Rail Europe Announces Entry into Turkish Marketplace
The Vienna-based GATX Rail Europe today announced its entry into the Turkish marketplace with the deployment of newly-manufactured railway tank wagons.
April 18, 2011
Turkcell Intends to Get Into Austria
The Turkish mobile operator strives for an entry into the Austrian market.
April 1, 2011
The Black Sea Region is Gaining in Significance for the Austrian Economy
Austria's sound foreign economic relations with the Black Sea region could be strengthened still further. The export structure of Austria is consistent to a large extent with the import demand of Ukraine and Turkey.
March 25, 2011 · Updated: March 25, 2011; 03:52
Strong Growth for bauMax
The do-it-yourself group increased its sales in Austria and Eastern Europe in 2010.
February 18, 2011
OMV: "Turkey as a Bridge for Oil and Gas Wells in the region"
The Austrian oil company, which has already invested € 2.0bn in Turkey, considers the location a starting point for the Middle East.
February 17, 2011
OMV Capital Increase Likely
Due to massive acquisitions in recent months, the Austrian OMV has to refinance. A capital increase is the most favorable option.
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
Purchase of Petrol Ofisi Lowers OMV´s Results
In its Trading Statement Q4/10, OMV announces extraordinary expenses due to the major purchase of the Turkish Petrol Ofisi amounting to € 170m.
February 5, 2011
Vienna Insurance Group Expands in Turkey
Vienna Insurance Group in Turkey: Acquisition of a 10 percent stake in Ray Sigorta is completed.
February 4, 2011
Austria: The Gateway to Central Asia?
Leading Austrian politicians intend to attract attention at the World Economic Forum to what promises to be a new target region.
January 26, 2011
Record Results for Red Bull
The Austrian producer of energy drinks reached its best results ever in 2010 thanks to the markets in Turkey, Japan and Brazil.
January 22, 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
Turkish Electricity Market Threatens to Collapse
The increasing energy demand in Turkey is facing a lack of infrastructure. Austrian Verbund will expand its investments.
January 13, 2011
S&T announces to withdraw from Germany
The Austrian information technology consulter S&T withdraws from the German market. Hence the German subsidiary „S&T Deutschland GmbH“ will be closed.
January 10, 2011
OMV: Moody´s Warns Against Downgrade
The Austrian energy group has to refinance its acquisitions in Turkey and Tunisia. The American rating agency puts pressure on OMV.
January 10, 2011
OMV: Market Predicts Capital Increase
Due to acquisitions and the rating situation, analysts expect a capital increase of Austria's energy group.
January 7, 2011
Spindelegger: Turkey's Joining the EU Will Not Happen Before 2024
In an interview with the "Wirtschaftsblatt", the Austrian Foreign Minister stresses the relevance of Turkey. Croatia should come into the EU much earlier EU.
December 29, 2010
Italian Support for Nabucco
The Italian power company Edison cooperates with the Nabucco gas pipeline project. The aim is to create synergies.
December 28, 2010
Porr: Turkish stake might increase
The Turkish Renaissance Group currently holds a 10% stake in Austria's third-largest construction group. This share could be increased significantly.
December 23, 2010
OMV Closes Acquisition of 54.14% in Petrol Ofisi
OMV, an Austrian energy group, completed the acquisition of a 54.14% stake in Petrol Ofisi A.S.
December 22, 2010
OMV: Nabucco Underway as Planned
Austrian OMV considers that the gas pipeline project of European energy companies is developing according to plans.
December 10, 2010
Turkey: Verbund Fails in Privatization
The Austrian-Turkish joint venture was unable to participate in the privatization of the Turkish power grids. The Group's objectives remain valid nonetheless.
December 8, 2010
DO & CO - Good Results in a Difficult Environment
The Austrian catering company Do&Co; currently achieves high growth in profits. Globally, Do&Co; however remains a small player.
December 2, 2010
Austria's Position in the CEE Region Shakes
According to the Roland Berger consultancy agency, Austria receives not only competition in the CEE countries, but the importance of the region also decreases from a global viewpoint.
December 1, 2010
Major Order for Porr in Libya
Porr builds a sports stadium with a Turkish partner. The contract is worth € 220 million euro.
November 29, 2010
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