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

Treichl: „BCR Will be Positive this Year“

Erste Group´s CEO Andreas Treichl thinks that the Romanian subsidiary Banca Commerciala Romania will not record losses in 2013.

January 24, 2013 · Updated: January 24, 2013; 21:58

IMF: Growth in CESEE Region to Accelerate

In the next three years, economic growth rates in central, eastern and southeastern Europe will return to the pre-crisis level, IMF says.

January 23, 2013

New Governor at National Bank of Ukraine

Mr. Mykola Azarov and Mr. Sergiy Arbuzov introduce a new Governor of the National Bank of Ukraine.

January 17, 2013

Ukraine: Inflation Shrinking Slightly

Mr. Oleksandr Petryk, Director of General Economic Department, has communicated that inflation stood at 0.2% in December 2012, with annual CPI inflation having declined by 0.2% for the first time in the past ten years.

January 14, 2013

Central Europe's Relations With the U.S.

Philip H. Gordon from the Bureau of European and Eurasian Affairs at the U.S.-Central Europe Strategy Forum, Center for European Policy Analysis (CEPA) in Washington, DC remarks on the issue of U.S. relations with Central- and Eastern Europe as follows.

January 9, 2013

“2013 will be a better growth year for CEE than 2012”

Unlike 2012 the new year starts with much less financial stress and easier monetary policy. Central and Eastern Europe has still considerable potential to outperform EMU, differentiating on domestic policies, Bank Austria says.

January 7, 2013

CESEE: Economy Slows Down Further

CEE macro downturn to hit trough in Q1 2013; forecast GDP growth 2013: Poland 2.2%, Slovakia 1.3%, Romania 1.1%, Erste Group says.

January 7, 2013

CESEE Equity Market: Upside Trend after Slow Start

Country allocation: An overweight on Russia is a strong bet for the coming quarter and mostly based on liquidity searching for an option after Turkey performing so strongly, Erste Group says.

January 7, 2013

Ukraine: Gold Reserves Gain in Importance

The share of monetary gold in Ukraine’s international reserves has almost doubled.

December 28, 2012

CESEE: Deposit Growth Slows Down

Given the sketched regional loan growth dynamics and their most important drivers it comes as no surprise that deposit growth rates in CEE also decelerated in recent months, Raiffeisen Research states.

December 21, 2012

Erste Group Withdraws from Ukraine

Austrian Erste Group enters into an agreement to sell Erste Bank Ukraine.

December 20, 2012

Bank Austria: Poland and Turkey are Most Attractive

According to Bank Austria´s board member Gianni Franco Papa, the performance of CESEE markets is satisfying.

December 19, 2012

Ukraine: Fiscal Policy Faces Unsolved Problems

The budget draft for 2013 provides no room for the fiscal consolidation, which looks incompatible with the IMF requirements.

December 19, 2012

Ukraine: Current Account Deficit Grows Significantly

Balance of payments deficit almost doubled in October – to USD 2.0 bn - amid sharp reversal in the capital flows and widening C/A deficit, Raiffeisen Research says.

December 19, 2012

Ukraine: Real Economic Sector Disappointing

The State Statistics Committee confirmed its preliminary estimate of -1.3% yoy GDP growth rate in Q3 2012 (GDP grew 2% and 3% yoy in Q1 and Q2 respectively).

December 18, 2012

Ukraine: Reform Pressure Grows

Mykola Azarov is reappointed as Prime-minister, facing tough challenges ahead, Raiffeisen Research states.

December 18, 2012

Kazakhstan: „Among the Top 30 in 2050“

Kazakh President Nursultan Nazarbayev predicts an economic boom in the next decades.

December 15, 2012

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