Austria and the Western Balkans as a Region (Albania, Bosnia & Herzegovina, Kosovo, Macedonia, Montenegro, Serbia). See also each country individually.
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Western Balkan Countries in Austria | Bilateral Relations

“A new chapter begins for Kosovo”

Austrian Vice-Chancellor Michael Spindelegger underlined the success of the Ahtisaari UN Office in Pristina .

September 12, 2012

Serbia Lifts VAT Rate

In order to prevent the national bankruptcy, the Serbian government raises the VAT by two percentage points.

September 11, 2012

RWE Agrees to Strategic Collaboration with Serbian Energy Utility EPS

The German energy group has signed a Memorandum of Understanding on further development of energy generation in Serbia. The focus will be on laid on hydropower.

September 11, 2012

Temporary Surplus in Serbia´s Budget

Due to the VAT intake, Serbia faced a budget surplus in July. In June, Serbia recorded a massive deficit.

September 8, 2012

Serbia: Exports Decline, Foreign Deficit Goes Up

According to RCB (Raiffeisen Centrobank), the draught in Serbia is likely to reduce the corn yield exports volumes. The trade deficit rose by 13.6% in June.

September 8, 2012

Serbian Industrial Production Declines

In June, Serbia´s industrial production fell by 4.0% against 2011. The outlook is not promising, RCB says.

September 7, 2012

Takeover of OMV´s Petrol Stations: INA Faces Legal Restrictions

The Austrian OMV Group plans to withdraw from Croatia and Bosnia. The Croatian subsidiary of MOL is interest in OMV´s petrol stations, but may face legal restrictions from a competition law point of view.

September 7, 2012

Serbia´s Current Account Deficit on the Rise

According to RCB (Raiffeisen Centrobank), the current account gap widened in June by 15.6% mom supported by remittances fall (-32.0% mom),

September 7, 2012

Croatian INA Submits Offer to OMV

Austrian OMV sells its petrol station business in Croatia and Bosnia. The Croatian subsidiary of Hungarian MOL has submitted a binding offer.

September 5, 2012

Hypo Group Reduced Capital at Croatian Subsidiary

The Austrian nationalized bank cut the stock capital of the Croatian subsidiary by € 100m.

September 3, 2012

Croatian Crisis Aggravates

For Croatia, the end of the severe recession is not foreseeable. Croatia´s real economy is hit hard, the financial sector suffers from bad loans.

August 31, 2012

Serbian Government Tries Act of Liberation

Serbia´s economy weakens, the outlook is negative. Even a bankruptcy is not excluded anymore.

August 29, 2012

Croatian Labor Market Crisis Deteriorates

Not only the unemployment rate is increasing. Croatia has the third-highest youth unemployment rate in Europe.

August 29, 2012

Croatia Said to Become Part of South Stream Pipeline

Good news for Croatia: Gazprom and Plinacro are said to have agreed on a natural gas pipeline across Croatia. The pipeline may enhance employment and reduce natural gas costs.

August 27, 2012

Serbians Push Government for Reforms

The support for an EU membership has fallen below 50%. However, more Serbians call for economic and social reforms.

August 27, 2012

Serbia: Rise in Poverty Expected

The economic crisis in Serbia sharpens. Millions of households are not able to repay their debts.

August 25, 2012

Economic Crisis: Croatians are Pessimistic

According to the Croatian website politika plus, 84% of the Croatians believe that the current economic crisis will sharpen further.

August 24, 2012

Croatian Unemployment Rate Reaches 17.5%

In July 2012, the Croatian unemployment rate was up by 0.2 percentage points to 17.5%.

August 23, 2012

Croatia: Non-Performing Loans on the Rise

Almost one out of seven loans is classified as “non-performing.” A further aggravation is rather likely.

August 22, 2012

EBRD Grants Major Loan to Macedonia

Macedonia was granted € 46.4m by EBRD for construction of the railroad to Bulgaria.

August 22, 2012

New Property Tax in Croatia

Slavko Linic, Finance Minister of Croatia, confirmed that Croatia will introduce a property tax in 2013. There would be no need for an IMF loan, Linic argues.

August 21, 2012

Dispute Over Hypo Group

Despite the relatively good results, the nationalized bank needs further capital injections. What is more, the capital shortfall at Hypo Group is highly controversial.

August 16, 2012

Croatian Banks Record Lower Profits

In the first six months of 2012, the net income generated by Croatian banks was down by 19%. The Croatian economy is expected to shrink this year.

August 16, 2012

Demerger at Hypo Group Resolved

In order to become re-sold, the Austrian subsidiary of Hypo Group shifts risky assets to the holding company.

August 14, 2012

Hypo Alpe-Adria-Bank in the Red Again

Today, the nationalized bank announced its half yearly result for 2012. Net Results reached € 10m.

August 13, 2012

Hypo Alpe Adria Divests TLM-TVP in Croatia

The nationalized Austrian bank successfully has sold the aluminum hot-rolling mill TLM-TVP d.o.o. in Croatia to the Vienna-based Euris.

August 13, 2012

OMV to Focus on Gas Business

The Austrian oil and gas company intends to exploit natural gas in proximity to Europe. The Black Sea and the North Sea are the strategically most important areas.

August 8, 2012

Serbia: Struggle for Central Bank Sharpens

After the resignation of governor Dejan Soskic, the EU warns Serbia of abolishing the independence of the Serbian Central Bank.

August 6, 2012

Budget Crisis: Serbia to Reduce Foreign Exchange Reserves

In order to mend Serbia´s budget hole, the government plans to amend the Central Bank law.

August 2, 2012

Croatian Bridge Construction Project: Strabag Withdraws

The biggest Austrian construction group withdraws from the € 20m contract.

July 27, 2012

Poland as CESEE´s Locomotive

This year, the CESEE region should record a growth rate of 1.7%. However, the situation is highly different.

July 25, 2012

Rising Serbian Budget Deficit Causes Worries

This year, Serbia has to borrow € 4.2bn. A budget deficit of € 300m is forecasted in 2012.

July 24, 2012

Aiginger: „Feeding Banks Makes No Sense“

The director of WIFO (Austrian Institute of Economic Research) thinks that Spanish banks must be able to become insolvent.

July 24, 2012

Hypo Group: „As Little Bank Aids as Possible“

Hypo Group Alpe Adria´s CEO Gottwald is unhappy with reports that the state-owned bank may need further bank aids.

July 20, 2012

OMV: No Withdrawal from Germany

The Austrian oil company and petrol station operator will not sell the petrol station business in Germany. By contrast, the downsizing program in the SEE region and in the Czech Republic will be continued.

July 19, 2012

Takeover of Croatian Aluflex Failed

The Austrian Hypo Group Alpe Adria will not sell the Croatian aluminum group to the Swiss MTC (Montana Tech Components).

July 19, 2012

Kapsch CarrierCom Acquires Remaining Shares in Croatian TIS

With the acquisition of the remaining shares in the Croatian subsidiary Kapsch TIS d.o.o., Kapsch CarrierCom is further expanding its involvement in South-Eastern Europe.

July 18, 2012

EU – An Escape for Serbia?

The economic prospects for Serbia are gloomy. The priority of the new Serbian government is to join the European Union.

July 14, 2012

Southeastern Europe Faces Recession

According to the Vienna Institute for International Economic Studies (WIIW), Southeastern Europe is the weak point among European emerging countries.

July 7, 2012

Austria Remains One of the Biggest CESEE Investors

Austria is still an important net investor in Central, Eastern and Southeastern Europe. However, the global importance of the region did not increase.

July 6, 2012

Telekom Austria Not Interested in Telecom Kosovo

The privatization of the state-owned Kosovan PTK has begun. Telekom Austria will not participated in the sales process.

July 5, 2012

CESEE: Poland and Turkey are Hot Spots

Erste Economic Sentiment Indicator CEE: stock market expectations weaker, but still ahead of Eurozone. Turkey and Poland remain the preferred investment regions.

July 4, 2012

Uniqa Completes Sale of Mannheimer Group

The Austrian insurance group Uniqa completed the sale of the Frankfurt listed company Mannheimer AG Holding to Continentale Versicherungsverbund. Growth in CESEE countries should be strengthened.

June 29, 2012

Infineon to Invest € 250m in Austria

In 2012, Infineon Austria´s CEO Monika Kircher-Kohl wants to make investments of € 250m. The high tech company is already looking for new staff.

June 28, 2012

Real Estate Crisis in the Balkans Has Deepened

Due to the economic crisis in Southeastern Europe, real estate prices are still falling. Since 2008, prices fell by up to 50%.

June 28, 2012

Kelag Invests € 60m in Kosovo

The Austrian regional energy supplier celebrated the ground-breaking ceremony of a major power plant in Kosovo this week. Investments will total € 60m.

June 27, 2012

Austria Appreciates Opening of Accession Negotiations

After the beginning of the accession negotiations with the EU, the Austrian government congratulates Montenegro.

June 26, 2012

Nabucco „Not Essential“ for EU

For the EU Commissioner Günther Oettinger, it is not important which pipeline ships natural gas to Europe.

June 22, 2012

Austrian Lotteries Apply for License in Albania

The Albanian Ministry of Finance offers licenses for foreign applicants. A heavy dispute occurs.

June 22, 2012

Euris Interested in Croatian TLM-TVP

The Austrian aluminum trader Euris shows interest in the Croatian aluminum rolling mill. Austrian Hypo Group is the seller, the Swiss Montana Tech Components is still a potential buyer.

June 18, 2012
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