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The United States of America in Austria | American Expats in Vienna

Austria: Fischer Calls Upon Respect of Human Rights

At the New Year Reception for the diplomatic corps in Austria, President Heinz Fischer called upon the strict compliance to human rights.

January 20, 2014

Erste Group: Moderate Economic Recovery in Eurozone

Euro area sentiment indicators point to a continuation of the moderate recovery, according to Erste Bank.

January 20, 2014

Kotian: “Growth in CEE is Accelerating“

In an interview with Austrian daily “Wirtschafts-Blatt”, CEE expert at Erste Group, Juraj Kotian, points out that the bond market is expected to see growth supported by the successful reduction of debts and high economic growth.

January 20, 2014

Slovenia: Controversies over Ambassador’s Statements

Joseph Mussomeli, US ambassador to Slovenia, needs to justify himself to the Slovenian Foreign Ministry over his statements about the country’s independence.

January 17, 2014

Hungary: Forex Loan Problem to be Solved

According to the Hungarian National Bank (MNB), the problem of the foreign-exchange loans could be solved in the next half year.

January 17, 2014

Slovenia Attracting FDI from US and UK

The Slovenian Ministry of Finance is taking great efforts to attract investors from the US and the UK.

January 17, 2014

$ 1.0trn Capital Shortfall in European Banking Sector?

According to U.S. economists, the stress tests carried out by the European Central Bank are too soft.

January 16, 2014

Citizens from CEE Major Benefit for EU

A current paper published by the OECD shows that the European Union benefits from migration of Eastern European citizens as they compensate imbalances in the labor markets.

January 15, 2014

Sajdik New Chairman of UN ECOSOC

The Austrian diplomat Martin Sajdik became President of the Economic and Social Council, which is one of the most important bodies of the UN.

January 15, 2014

Nowotny Sees Growth Potential in Eurozone and CEE

According to Ewald Nowotny, governor of the Austrian National Bank (OeNB), the outlooks for economic upturn in the Eurozone and Central/Eastern Europe have improved significantly compared to only a year ago.

January 14, 2014

Poland to Cover Borrowing Needs Early

The biggest CESEE economy wants to raise cash before the U.S. FED begins to reduce its asset buying program. The CESEE region will absorb the monetary shock, though.

January 13, 2014

Europe/CESEE: Heavy Trade in Distressed Assets

Until 2018, European lenders will offload about 300bn of bad debts, according to PwC. Above all, U.S. private equity firms are taking the opportunity.

January 11, 2014

RBI Expects Growth to Accelerate in 2014

2014 marked by growth recovery, according to RBI Research.

January 9, 2014

Orco Property Group: Cut in Number of Board Members

Shareholders of Luxembourger real estate company Orco Property Group voted to cut the number of board members from nine to five on Monday.

January 8, 2014

Romania: Slight Increase in FX Reserves

In December 2013 FX reserves increased slightly compared to the previous month.

January 7, 2014

European Union: Private Trading of Banks to be Restricted

The European Union intends to severly restrict risky private trading of banks.

January 7, 2014

CEE: Economic Sentiment Cautiously Optimistic

The economic sentiment for Eastern European countries is becoming more optimistic, however, only cautiously. Poland is on top of the list of economists at JP Morgan.

January 2, 2014

Bank Austria Considers Establishing Sub-Brand

In the next years, the Austrian subsidiary of Italian UniCredit wants to put more effort into the development of the mobile and online banking segment.

December 31, 2013

UniCredit Sells Bad Assets to Cerberus

The majority shareholder of Austrian Bawag acquires a portfolio worth €950m.

December 27, 2013

Austria: Industrial Output Shrinks

In October the industrial production in Austria declined.

December 23, 2013

CESEE: Dependence on Foreign Demand Remains Main Obstacle

In 2014, Central, Eastern and Southeastern Europe (CESEE) faces a slight upward trend. The structural difficulties persist, however.

December 21, 2013

Wifo: Sluggish Growth Because of Weak Consumption

According to Wifo’s (Austrian Institute of Economic Research) prognosis for the coming years, economic upturn in Austria will remain flat because of weak consumption.

December 19, 2013

CESEE: More Robust than in 2008

The U.S. Federal Reserve wants to reduce its easing policy gradually. For emerging markets, the end of the loose monetary policy may prove challenging.

December 17, 2013

Poland: Budget Bill Approved by Lower House

On Friday, the Polish lower house Sejm approved next year’s budget bill which schedules the budget deficit of PLN 47.6bn not to be exceeded.

December 16, 2013

Serbia: World Bank Attaches Loan to New Laws

The World Bank has attached the loan in the amount of US-$ 250m (€ 183m) for Serbia to the implementation of three important laws within this year still.

December 10, 2013

ECB Considers Restricting Credits

The ECB takes the option of restricting banking to industrial enterprises only into consideration.

November 27, 2013

Capital Shortfall at European Banks

According to Boston Consulting Group, European Banks still have much work to do.

November 19, 2013

Slovenia Issues New Eurobonds

The issuance of a new bond in the amount of € 1.5bn on Friday came as surprise as Prime Minister Alenka Bratusek has annouced earlier no such measures will be made until the beginning of the new year.

November 18, 2013

Romania: Fitch Rating for Three Banks Affirmed

Fitch has affirmed the ratings for three Romanian banks and forecasts a stable outlook.

November 14, 2013

Austria: Bawag to Pay Off Further State Capital

Today CEO Byron Haynes announced that Bawag will pay back a further tranche of the bank state aid injected in 2009.

November 13, 2013

Bawag Investor Cerberus to Leave?

Rumors have it that US fund Cerberus will sell his share in Austrian bank Bawag. According to head of Bawag, Byron Haynes, a selling process has not yet begun.

October 31, 2013 · Updated: November 5, 2013; 17:30

Banks Jeopardize Austrian Triple-A Rating

In case further aids will become imminent, Austria could lose its rating.

October 31, 2013

US Investors: Austrian Industrial Location Loses in Attractiveness

According to a study carried out by the American Chamber of Commerce (AmCham), the quality of the Austrian industrial location is seen ambiguous.

October 25, 2013

Bulgarian President Calls for TTIP

Bulgaria’s economy would benefit from a free trade agreement between EU and USA.

October 25, 2013

H.E. Ambassador Alexa Lange Wesner, U.S. Embassy Vienna, presented her credentials to the Federal President of Austria

Ambassador Alexa Lange Wesner presented her credentials to Dr. Heinz Fischer, the Federal President of Austria on 22nd October 2013 and took charge as U.S Ambassador to Austria.

October 23, 2013

Amazon to Open Distribution Centers in the Czech Republic

The world’s largest online retailer Amazon plans to create 10,000 jobs in the Czech Republic within the next three years.

October 22, 2013

Bill Gates Becomes Second-Largest Shareholder in FCC

Spanish construction company and parent company of Austrian Alpine has a new shareholder: Founder of Microsoft Bill Gates has aquired a participation of around six percent.

October 22, 2013

Nowotny Demands Same Rules for All Banks

Govenor Nowotny urges for a discussion about the capital requirements (Basel III) for banks, which applies only for the major banking institutes in the US but for all banks in Europe.

October 18, 2013

Austria: Voestalpine Expects Same Results as 2012

CEO Wolfgang Eder expects the same level in profits as last year.

October 17, 2013

Bank Austria: Economic Recovering in Small Steps

The Bank Austria Business Indicator provides an overview of the current economic situation in Austria.

October 16, 2013

Moody’s: Poland Threatened by Outflow of Foreign Funds

Rating agency Moody’s evaluates the country being moderately exposed to the risk of foreign outflows.

October 14, 2013

Poland: Amazon to Establish Three Logistic Centers

Leading online retailer Amazon will open three major logistic centers in Poland. According to the company’s own proclamation, this step does not relate to the latest striking problems in Germany.

October 8, 2013

Moody’s Honors Austrian Banks in CESEE

Only a year ago, the rating agency downgraded Austria because of its banks’ engagement in Eastern Europe. However, the situation has changed to the better.

October 3, 2013

Austria: Kapsch Demands Reform Agenda From New Government

Georg Kapsch, President of the Federation of Austrian Industries (IV) demands the next federal government to introduce a comprehensive reform agenda.

September 27, 2013

Meet U.S. Ambassador-designate to Austria Alexa Lange Wesner

"I am aware of the great honor to come in 2013 as a representative of President Obama to Austria. In that year, our two countries celebrate the 175th anniversary of diplomatic relations", says the U.S. ambassador-designate Alexa L. Wesner.

September 21, 2013

Treichl: Requirements for Banks Increased Massively

According to the CEO of Erste Group, the requirements for banks have increased by three to six times. Moreover it has become harder for banks to finance small and medium sized enterprises (SME).

September 17, 2013

Austria: Bawag to Pay Back Further State Aid

Due to lower costs and provision profits of the Austrian bank Bawag increased. From the coming year on the bank intends to pay back further state aids and plans on further withdrawing from CESEE.

August 27, 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

Ukraine Diversifies Sources of Reverse Gas Supply

Ukraine plans on soon opening two more routes through Romania and Slovakia.

August 22, 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