Austria and the U.S. - Read the latest headlines about bilateral relations in the areas of economy, business, investment, diplomacy, culture and tourism
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The United States of America in Austria | American Expats in Vienna

Austria: Difficult Market Situation for Selling Bawag

The selling of Bawag PSK proves difficult for its owner which is why an IPO is considered a realistic phasing-out scenario. However, experts doubt that an IPO will be a “highflyer”.

April 24, 2014

Eder: Policy-Makers Have to Make Decisions

Wolfgang Eder, CEO of Austrian steel manufacturer voestalpine, claims not to have heard anything from the Austrian policy makers after he raised criticizm with regard to the Austrian business location.

April 24, 2014

Austria: Bawag to Go Public?

Bawag PSK is likely to go public, as reported by Bloomberg.

April 23, 2014

Eder: Austrian Industrial Location Not Attractive Anymore

Austria may lose one of its most important industrial flagships. Wolgang Eder, CEO of the Vienna-listed steel manufacturer voestalpine threatens to leave Austria.

April 18, 2014

Industrial Location Austria Losing Attractiveness

Among other things, labor costs and energy prices are too high, according to the Austrian Federation of Industries.

April 16, 2014

Fitch: Polish Rating Foundations Very Solid

As reported by news portal “Warsaw Voice”, rating agency Fitch considers the Polish credit rating foundations to be very solid.

April 8, 2014

Wealthy Investing in Real Estates in Vienna

Vienna is considered a “safe haven” for real estate investments. In particular, luxury homes, such as the Palais Principe for instance, are more than attractive for wealthy investors.

April 4, 2014

RBI: Economic Recovery Despite Geopolitical Tensions

Economic upswing vs. geopolitics.

April 4, 2014

Austria: Fitch Warns Banks of Risk with Business in Russia

The menacing sanctions against Russia with regard to the political crisis in Crimea could become a severe danger for Austrian banks.

April 1, 2014

Austria: Economic Recovery Remains Modest

Political clouds over economic recovery.

April 1, 2014

Austria: Moody’s Confirms Rating and Outlook for Carinthia

US rating agency rewards the government’s solution about Hypo Group with a confirmation of the creditworthiness of the province of Carinthia.

March 28, 2014

Austria: S&P Confirms Rating

US rating agency Standard & Poor’s has confirmed the Austrian rating at “AA+” with a stable outlook.

March 28, 2014

Poland: Pension Reform Not to Affect Rating

According to rating agency Fitch, Poland’s country rating will not be affected by the pension reform.

March 25, 2014

Fitch: Elections Command Fiscal Consolidation and Reforms

Vucic appears to acknowledge the need for reforms in Serbia.

March 20, 2014

Recovery of Austrian Economy Continues

Austrian economy continues its recovery despite weaker upswing.

March 17, 2014

Austria: Delay in RBI Paying Back State Capital

Austrian Raiffeisen Bank International (RBI) will take longer than planned to pay back state capital.

March 15, 2014

Slovenia: Banking Sector Still Prone to Risks

The Slovenian banking sector is still prone to risks as the number of non-performing loans was not reduced substantially.

March 14, 2014

Austria: Bawag to Pay Back State Capital

Bawag is expected to pay back the entire public participation captial tomorrow. The assets are urgently required for recapitalizing Austrian problem bank Hypo Group.

March 13, 2014

CEE Countries Condemn Russian Intervention in Ukraine

Foreign Ministers of the Visegrad countries (Poland, Czech Republic, Slovakia and Hungary) want to strengthen the EU defense policy. Poland intensifies its military cooperation with the U.S.

March 8, 2014

Poland: Banks Expected to Preserve Ratings

According to US rating agency Standard&Poor;’s, Polish banks will be able to keep their credit ratings this year.

March 4, 2014

Hypo Group: “Worst Thing If Government Does Not Make Decision”

According to Felderer, President of the Fiscal Council, a downgrade in the country rating must not be taken “too seriously”.

February 28, 2014

Romania: Ponta Clinging to Leadership

Reforms in Romania will be carried out even if Ponta’s new government’s majority will be reduced in parliament.

February 27, 2014

Hypo Group: New Figures Added to Number Games

The number games in regard to Hypo Group’s downsizing to not seem to cease. New figures will be released by the bank’s task force at the beginning of next week.

February 27, 2014

Hypo Group: Nowotny to Replace Liebscher

After Liebscher, head of Hypo Group’s task force, announced throwing in the towel Nowotny, Governor of the Austrian National Bank (OeNB), will become his successor.

February 22, 2014

Austria: Investment Banker Part of Hypo’s Expert Group

A former investment banker is supposed to support Austrian government in the Hypo Group issue.

February 21, 2014

CEE Financial Markets under Pressure as Riots Continue in Ukraine

CEE markets under pressure as Ukraine violence heats up. Biggest direct risk to Polish Zloty, but also to Hungarian Forint and Romanian Leu.

February 21, 2014

Fitch Keeps Rating for Austria at High Level

According to the Rating agency the downsizing of Hypo Group will burden the debt rate. However, the outlook for the country’s credibility was left at a “stable” outlook.

February 21, 2014

Austria: Rating Endangered

US-based rating agency Fitch will update its country rating for Austria tomorrow. Finance Minister Spindelegger is in favor of a haircut for investors of Hypo Group Alpe Adria.

February 20, 2014

Liebscher: Government Is to Blame

Head of Hypo Group’s Task Force Klaus Liebscher rejects being turned into the scapegoat of delaying important decisions about the downsizing of the problem bank. Instead, he points his finger to the Austrian government.

February 20, 2014

Austria Most Popular Country among Hungarians

93 percent of Hungarians feel compassion towards Austria.

February 19, 2014

Low Expectations in Nuclear Talks with Iran in Vienna

Optimism among officials about successful talks to end Iran’s nuclear program is restrained.

February 19, 2014

Picker: Hypo to Cost Taxpayers “Only” up to € 4bn

According to CEO of Hypo Group Alpe Adria Picker, the ailing bank will burden taxpayers with “only“ € 4bn at the most. Head of IHS, Keuschnigg, warns the Austrian policy-makers of forwarding costs to bondholders.

February 19, 2014

Austria: Moody’s Downgrades Four Bonds

Moody’s downgraded four bonds of Austrian banks on Tuesday. The outlook is negative.

February 19, 2014

Government Downplaying Effects of Hypo Group Desaster

Today, both Chancellor Werner Faymann and Finance Minister Michael Spindelegger had to explain their actions in regard to Hypo Group Alpe Adria in parliament.

February 17, 2014

Cernko: Wealthy to Support R&D in Austria

The CEO of Bank Austria calls upon the Austrian government to take into consideration the funding of research and development by wealthy individuals and regard this as part of their “tax duty”.

February 12, 2014

Bawag: Losses for Cerberus Running into Billions

There are persistent rumors that the U.S. investor may leave the Austrian bank. For Cerberus, Bawag is a disaster.

February 11, 2014

Ukraine: RBI Examines Offers

Raiffeisen Bank International (RBI) has received a total of twelve offers for its Ukranian affiliate.

February 10, 2014

Santander on Circulated Sales Talks: „No Comment“

As reported by Vindobona, Spanish Banco Santander is said to be interest in taking over the fifth largest Austrian lender Bawag. Bawag´s management remains silent on this matter.

February 4, 2014

EBRD: CESEE Not Under Pressure Yet

According to the European Bank for Reconstruction and Development, most countries in CESEE are relatively unaffected despite the renewed pressure on emerging markets.

February 4, 2014

Tusk: No Monetary Interventions Necessary

In the past few months, the Polish zloty fell significantly. However, Poland´s Prime Minister Donald Tusk thinks that the zloty does not need support.

February 3, 2014

Bawag to Be Sold?

According to rumours, the fifth largest Austrian lender may be sold.

January 31, 2014

VSE and Kazakhstan Stock Exchange to Intensify Cooperations

Vienna Stock Exchange (VSE) and Kazakhstan Stock Exchange intensify cooperation – joint data vending agreed.

January 30, 2014

S&P to Establish CEE Center in Poland

Warsaw will be the new CEE focal point of Standard&Poor;’s (S&P) as the US rating agency announced establishing an office in Warsaw.

January 29, 2014

Restrained Optimism in Polish Financial Market

According to Finance Minister Szczurek, the Polish Financial Market will have to face another challenging year.

January 27, 2014

Poland: More than Half of Borrowing Needs Covered

In CESEE, governments are in a hurry. The Polish government announced that about 50% of the borrowing needs could be covered in the first three weeks of 2014.

January 24, 2014

Austria: OeNB Forecasts Modest Economic Growth

According to the Austrian National Bank (OeNB) economic growth in Austria only came at 0.3 percent last year.

January 24, 2014

Serbia: World Bank Delays Loan

The World Bank has delayed a loan in the amount of US-$ 250m for Serbia.

January 24, 2014

CESEE: Recovery Remains Modest

The European Bank for Reconstruction and Development (EBRD) has published a report on the regional economic prospects. The economic recovery in CESEE remains fragile.

January 23, 2014

Insurance Industry Faces Growing Risks

According to the U.S. rating agency Fitch, insurers in Europe have to accept riskier investments. Ratings may deteriorate, Fitch warned.

January 22, 2014

„Only A Catastrophy Will Bring a Change“

Bestselling author Marc Friedrich criticizes the IMF sharply and thinks that the Basel III framework is “ridiculous”. The U.S. monetary policy is “doomed to failure”.

January 21, 2014