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Turkey in Austria | Turks in Vienna | Bilateral Relations

Expansion Course of Austrian Banks Slowed Down

After the financial crisis cooled down the expansion course of Austrian banks in CESEE countries was dampened down.

January 16, 2014

CESEE: Number of NPL Declining

According to a study by Bank Austria, the number of bad loans is declining in Central and Eastern Europe.

January 14, 2014

Austrian Banking Industry Depends on Russia and Czech Republic

For the Austrian banking sector, the CESEE region is highly heterogeneous. In the first six months of 2013, net earnings totaled € 1.4bn in the region.

December 12, 2013

Austerity Cuts at Sberbank

Russian Sberbank aims to become more efficient. The management cuts about a tenth of the jobs.

November 13, 2013

Lopatka: EU Enlargement Process of Western Balkans Decisive for Austria

“Non-Enlargement” of Western Balkan states would be fatal for Austrian businesses operating in the region and the national economy.

October 31, 2013

Slovenia on Top of Prosperous Countries in Emerging Europe

Slovenia is leading the list of prosperous countries in Emerging Europe. Bulgaria is on the last position.

October 30, 2013

Turkey: Green Light for EU Accession Talks

On Tuesday, the EU Commission intends to give green light to accession negotiations with Turkey starting at the beginning of November.

October 18, 2013

Bulgaria Supports Trans Adriatic Pipeline

During yesterday’s world media meeting, on behalf of his country Bulgarian President Rosen Plevniev expressed his support of the Trans Adriatic Pipeline project (TAP).

October 16, 2013

Austrians Opposed to EU Enlargement

According to a survey, the majority of Austrians are opposed to an EU Accession of Turkey and Western Balkan States.

October 16, 2013

Austrian Post: Enormous Growth Potential in Turkey

With a local partnership, the Vienna-listed Austrian Post wants to participate in the booming Turkish post market.

October 9, 2013

Economic Upturn in Austria, Eurozone and CEE

Turbulent Emerging Market conditions have little impact on CEE.

October 2, 2013

Turkey: „Perhaps We Will Never Join the EU“

Turkey´s Minister of European Afffairs Egemen Bagis stated that Turkey feels insulted.

September 23, 2013

Turkey: Enthusiasm about EU Membership Shrinks

Fewer and fewer Turkish citizens are keen on an EU membership of their country.

September 20, 2013

WKO: Austrian Enterprises Miss out on Potential in Turkey

According to a commercial councelor at the Austrian Chamber of Commerce (WKO) in Istanbul, Austria is focused too much on Eastern Europe. Switzerland exports triple the amount to Turkey.

September 19, 2013

Turkey: Industrial Turnover Index Grew 14.8 Percent

The statistical office of Turkey announced that the Industrial Turnover Index in July increased by 14.8 percent compared to the same month in 2012.

September 13, 2013

Turkey: Economic Growth Exceeds Forecasts

Turkey’s economy continues on its growth track for the 15th consecutive quarter.

September 12, 2013

Turkey: Clashes During Protests

In several Turkish cities, the police violently dispersed protest movements and used tear gas and water cannons. The latest wave of protests was triggered by the death of a 22-year-old young man.

September 12, 2013

Turkish Airlines Not Interested in Croatia Airlines

The Turkish airline carrier has denied rumors of acquiring states at Croatia Airlines.

September 11, 2013

Turkish Dogus Group Not Interested in Hypo Alpe Adria

A high-ranking representative of Turkish Dogus Group denied that the corporation was interested in taking over Austrian bank Hypo Alpe Adria. In an interview with “Wall Street Journal” he claimed there had been no negotiations with Hypo.

September 10, 2013

Turkey: Strong Industrial Production at Start of Q3

Turkey saw a strong industrial production at the start of the third quarter, according to official data, which gives hope for an improved economic growth as the country is facing more and more economic difficulties.

September 10, 2013

Turkey Wants to Become 9th Largest Economy by 2050

Turkey is hoping to become the ninth largest economy worldwide by the year 2050. Growth rates will be around 5.2 percent in the years from 2012 to 2017.

August 30, 2013

Erdogan Considers Leaving U.N.

Turkey´s Prime Minister Recep Tayyip Erdogan puts pressure on the United Nations. The representation of the Security Council is not balanced, Erdogan criticizes.

August 26, 2013

Turkey: Overall Dissatisfaction Grows

A new poll carried out by Gallup shows that about a third of the Turks feel themselves suffering from an economic point of view.

August 25, 2013

Turkey: Capital Outflow Endangers Economic Stability

The monetary and economic stability is under enormous pressure. Turkey´s National Bank does not have sufficient reserve to support the Turkish lira.

August 24, 2013

Turkey: Tear Gas against Demonstrators in Istanbul

The police has once more used tear gas against a new demonstration of critics of the government.

August 21, 2013

Turkish National Bank to Increase Key Rate

In the fight against the downgrade of the Turkish Lira, the Central Bank of the Republic of Turkey (CBRT) has increased the key rate unexpectedly.

August 20, 2013

Turkey Wants to Stop Capital Outflow

The Turkish government plans to attract more investors. By lower taxes, foreign capital of Turkish nationals should come back to Turkey.

August 17, 2013

UniCredit: No Withdrawal from Hungary

CEO of UniCredit Federico Ghizzoni has rejected rumors about disengagement plans from Hungary.

August 7, 2013

Credit Crunch in CESEE?

The capital outflow in the CESEE region accelerates. The European Bank for Reconstruction and Development (EBRD) fears negative consequences for the real economy.

August 7, 2013

UniCredit to Focus on Poland, Turkey and Russia

UniCredit´s CEO pursues a selective growth strategy. The Austrian subsidiary recorded losses in the retail segment.

August 6, 2013

Turkey: Banking Sector Improves Profitability

In the first six months of 2013, net income of Turkey´s banking sector was up by 20%.

August 6, 2013

CESEE Remains Attractive for Austrian Investors

According to a survey, the region of CESEE is still attractive to Austrian investors. Particulary the bigger countries – Poland, Turkey and Russia – are becoming even more popular.

August 1, 2013

Turkey: Tear Gas Against Protesters Again

Once more, the Turkish police uses tear gas to fight off protesters.

August 1, 2013

Trend: Service Industry Drifts to CESEE

Lower costs in the service sector in CESEE countries, particularly Romania, are compensated by higher expenditures in securing quality standards.

July 30, 2013

Austria: Increased Demand in Romanian Exports

For the first time, Austria has imported goods from Romania exceeding the amount of € 1bn. Metals and machines are on top of the list of imported Austrian goods in Romania.

July 24, 2013

Turkish National Bank Raises Base Rate

Today, Turkey´s National Bank has increased the base rate from 6.5% to 7.25%. Turkey wants to prevent a devaluation of the lira.

July 23, 2013

Erdogan Attacks Banks

Turkey´s Prime Minister wants to strengthen his fight against the over-indebtedness of private Turkish households. According to Erdogan, banks are responsible for the unfavorable situation.

July 18, 2013

Turkey Considers Economic Re-Orientation

The Turkish government wants to shift its economic focus from Europe to Asia.

July 18, 2013

Turkey Suffers from Massive Capital Outflow

Due to the mass protests and the sharp political reactions, investors became suddenly much more cautious.

July 17, 2013

EU: Trade Surplus with Turkey Grows, Trade Deficit with Russia Shrinks

Euro area international trade in goods surplus 15.2 bn euro.

July 17, 2013

Moody´s Cuts Bank Austria´s Rating

According to the U.S. rating agency, the creditworthiness of the biggest Austrian bank has worsened. The expansion program in Russia and Turkey is seen as significant risk factor.

July 16, 2013

Turkey: BIST Formed Partnership with US NASDAQ

Turkey's Borsa Istanbul (BIST), one of the most profitable stock markets in the emerging world, has formed a strategic partnership deal with the US-based NASDAQ OMX Group, the owner and operator of NASDAQ stock market.

July 12, 2013

Turkey: Gezi Protests Claim Fifth Life

A 19-year-old, who was seriously injured during the protets against the government in Turkey, has died in hospital. The number of fatalities has now risen to five, according to press agency Dogan.

July 10, 2013

Turkey: Gezi Park And Taksim Square Closed Again

Only a few hours after the reopening of Gezi Park, the police in Istanbul once more used violence against demontrators as they wanted to get inside.

July 9, 2013

Turkey: Government Alleged to Have Known About Project Fail

A week before the forceful clearing of Gezi Park in Istanbul, the Turkish government was supposed to know about the fact that it had lost before court with its constructions plans. Protests went on, despite of that.

July 5, 2013

Turkey: Court Forbids Reconstruction of Taksim Square

Controversial construction project led to protests and brutal police force.

July 3, 2013

Turkey Becoming Important Global Investor

According to the latest survey by UNCTAD, Turkey has become an important investor.

June 28, 2013

EU Ready for Continuing Accession Talks

The European Union’s Foreign Ministers have agreed for the continuing of Accession negotiations with Turkey.

June 25, 2013

Turkey: Prospects of EU Accession Talks Brighten

Turkey’s prospects of the continuing of the EU Accession negotiations have brightened. During a meeting in Luxembourg several foreign ministers took a much more moderate tone.

June 24, 2013

No Further EU Accession Talks with Turkey

The European Union is obviously going to blow the planned accession negotiation with Turkey next Wednesday because of the recent escalations of violence in the capital Ankara.

June 20, 2013