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

Ukraine Faces Recession

For the first time since 2009, Ukraine recorded a negative growth rate last quarter. Weak exports and a shrinking industrial sector are the most pressing issues.

December 8, 2012

Inflation in Ukraine Remains at Zero Level

“Effective management of the financial sector allows Ukrainian authorities to hold inflation.” NBU (National Bank of Ukraine) states.

November 30, 2012

Ukraine: “Stability of Currency Not Endangered”

Ukrainian businessmen are confident in the stability of hryvnia, the Ukrainian National Bank says.

November 28, 2012

CESEE: Russia Has Best Growth Prospects

Next year, Russia is expected to record a GDP growth rate of 3.8%, Vienna Institute of International Economic Studies (wiiw) says.

November 26, 2012

Ukrainian National Bank Under Pressure

In order to support its own currency, the foreign exchange reserves of NBU (Ukrainian National Bank) were down substantially.

November 24, 2012

CESEE: Foreign Trade With Austria Booms

This year, Austrian exports to countries in Central, Eastern and Southeastern Europe are growing substantially.

November 24, 2012

Ukrainian National Bank Stresses Stability of National Currency

The National Bank of Ukraine was able to ensure hryvnia stability – by results of the expert meeting. Inflation could be kept at 0.00% in the first nine months of 2012.

November 20, 2012

Ukrainian Banking Sector Expands Slightly

Despite the economic slowdown in the Ukraine, lending is on the rise.

November 19, 2012

Gloomy Prospects for Ukraine

Economic slowdown is gaining momentum: GDP slumped by 1.3% yoy in the 3rd quarter, while industrial output contracted for 5th month in a row in October (by 4.2% yoy), Austrian RZB states.

November 19, 2012

Positive Business Outlook in Ukraine

Results of the Business Outlook Survey in Q3 2012: Unlike managers in Western Europe, Ukrainian managers give a positive assessment of the business activity in the near future.

November 7, 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

Austrian-Ukrainian Trade Relations Show Development Potential

According to Richard Schenz, Vice President of WKO (Austrian Chamber of Commerce), the economic relations between Austria and the Ukraine are excellent.

October 25, 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

VIG Considers Expanding Further

Vienna Insurance Group has cash reserves of € 1.5bn. Now, the insurance group wants to take over some small or medium-sized companies.

October 24, 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

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

Erste Group to Sell Ukrainian Subsidiary

This year, the Austrian bank plans to sell its Ukrainian business segment. Erste Group entered the Ukraine in 2006.

October 8, 2012

CEE Countries Must Work Upon Economic Convergence

CEE countries are struggling with weaker external demand and uncertain consumers, whereas in most cases fiscal policy is under control. Labour productivity, costs and competitiveness of CEE region give reason for optimism.

October 5, 2012

Austria: Fixed Costs Come at 55% of Household Income

In Eastern Europe, the share of fixed costs is even higher. Romanian households spend 76% of their income on fixed costs.

October 4, 2012

Viennese Investors to Sell UkrTelekom

The Ukrainian investor Rinat Achmetow is said to acquire UkrTelekom.

October 3, 2012

RBI: Poland Shows Stability

In Poland, Raiffeisen Bank International´s NPL ratio comes at 8%. By contrast, Ukraine and Poland are much more problematic.

October 1, 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

Ukrainian Delegation Has Begun Working Visit to the U.S.

Ukrainian official delegation headed by the Governor of the National bank of Ukraine - Sergyi Arbuzov arrived to the USA to begin a four-day working visit.

September 19, 2012

Brand Poland Increases Value Massively

In the Most Valuable Nation Brand ranking, Poland ranks 20th.

September 3, 2012

Ukraine's Banking System Demonstrates a “Sustainable Development”

Deputy Head of the National Bank of Ukraine Igor Sorkin commented on the situation in the Ukraine’s banking system for the first half-year 2012. Lending is on the rise.

August 21, 2012

OMV Starts Gas Drillings in Ukraine

Together with the U.S. oils group ExxonMobil, the Dutch-British Shell Group, and the Ukrainian Nadra Ukrayny, OMV´s subsidiary Petrom starts natural gas drillings in the Ukrainian Black Sea region.

August 17, 2012

Erste Group: Concerns Despite Profits

Yesterday, the Austrian banking group published its results for the first half year. The business in Romania, Hungary and Ukraine causes worries.

August 1, 2012

Erste Group Burdened by Losses in Eastern Europe

Despite losses in Romania, Hungary and Ukraine, Erste Group posts a net profit of € 453.6m in first half of 2012.

July 31, 2012

Ukraine Emitted Eurobonds of USD 2 Billion

This Eurobond emission has been the largest in Ukraine ever. The Ministry of Finance has leveraged capital markets current developments thus ensuring that 260 investors’ final order volume constitutes USD 5.8 billion.

July 26, 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

Vienna Insurance Group: Still Growth Potential in CESEE

VIG´s new CEO Peter Hagen aims to achieve external as well as internal growth. The process of catching up will go on.

July 20, 2012

Slight Growth in Ukrainian Financial Industry, Uncertainty Remains

According to Austrian RCB (Raiffeisen Centrobank), the lending activity remains subdued amid looming economic uncertainty. Deposit growth resumed in June both in corporate and retail segments.

July 19, 2012

Ukraine Shows Stable Economic Performance

After a major depression in 2009, the Ukrainian economy grows steadily. However, in June, industrial output fell slightly, Austrian RCB analyzes.

July 18, 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

Reorganization at UniCredit

The Italian banking group plans to dezentralize its structure. Bank Austria as CESEE hub is affected.

July 5, 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 Promotes Political Cooperation in Black Sea Region

Conference in Tbilisi discusses issues of management of institutional administration and rule of law.

June 11, 2012

„India and China are not the Problems“

Voestalpine´s CEO Wolfgang Eder thinks that competitors from Turkey, Russia and Ukraine may become problematic for the European steel industry.

June 5, 2012

Zumtobel „Lights up“ Euro 2012

After its completed orders in Poland and in the Ukraine, Austrian lighting company expects to attain new orders in Eastern Europe.

June 1, 2012

Erste Group: Poland and Ukraine Benefit from Euro 2012

EURO 2012 investments helped to boost investments in both countries. € 30.2bn invested whereof approx. 90% spent on infrastructure in Poland & Ukraine.

May 26, 2012

Strabag to Expand in Danube Region

In order to develop the Danube region of Hungary, Serbia, Romania, Bulgaria and Ukraine, the Austrian construction group expands its hydraulic engineering business.

April 12, 2012

RHI Has Growth Plans

The Austrian producer of fireproof ceramics puts effort into growth. Major investments and acquisitions are planned.

March 7, 2012

Uniqa Aims for Growth in CESEE Region

The Austrian insurance group wants to sell stakes by the minority shareholders of subsidiaries in Eastern Europe. The capital increase is scheduled for 2013.

March 5, 2012

Stepic Criticizes Rating Agencies Sharply

For Herbert Stepic, CEO of Raiffeisen Bank International (RBI), statements given by the U.S. rating agencies are “undifferentiated”.

February 20, 2012

Cernko Against „Talking Down Austrian Banks“

Bank Austria´s CEO is strictly against an undifferentiated view on CEE-countries. Austrian banks with an exposure in the CEE region shall not be talked down.

February 17, 2012

Russian Natural Gas Supply to Normalize

According to the Austrian oil and gas company OMV, gas deliveries from Russia are increasing slightly.

February 8, 2012

VIG Has „No Problems in Hungary“

“We are an insurance group and not a bank.”, said the management of Vienna Insurance Group. Nevertheless, the developments are observed thoroughly.

January 11, 2012

RBI Posts Decline in Nine-Month Profit

The Austrian bank might have to write down the goodwill on its Ukrainian subsidiary. Consolidated profit declined by 4.8% to € 745m in the first three quarters.

November 24, 2011

Conference on European Economic Integration

“European Integration in a Global Economic Setting – CESEE, China and Russia“. Conference jointly organized by the Oesterreichische Nationalbank and Suomen Pankki – Finlands Bank.

November 18, 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
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