Latest News

Critics for FMA and Central Bank

Michael Ikrath, general secretary from Austrian Sparkassen, criticizes the Financial Market Authority and the Central Bank for equity requirements imposed on domestic banks.

December 28, 2011

Schlumberger Achieves Strong Sales Growth

The Viennese sparkling wine company records a 19% sales growth.

December 28, 2011

Bank Austria Expects Positive Results

In spite of high losses in the third quarter, the subsidiary of the Italian UniCredit forecasts slight, but positive results.

December 28, 2011

New Record for Austrian Wine Exports

Although the quantity of wine exports is shrinking steadily, the export volume worth € 126m reached a new record.

December 28, 2011

Tourism: Slight Increase in Capacities

Austria offers 65 200 accomodation establishments and 1.09 million beds for tourists in 2011.

December 28, 2011

Erste Group: Core Shareholder Endangered to Reduce Stake

Erste Group´s main stockholder, the Erste Stiftung, needs 2012 dividend to avoid stake sale.

December 28, 2011

Raiffeisen to Strengthen Equity Base

RZB shareholders' general meeting resolves the issuance of participation capital worth € 600m.

December 28, 2011

Optimism at Austrian Automobile Industry

In spite of a weak economic outlook for 2012, Austrian automobile industry enterprises expect a good year.

December 27, 2011

40% of Austrian Employees Work In Spite of Illness

The feared loss of the job is one of the most important reasons, says a survey by the Chamber of Labor.

December 27, 2011

Hypo Tirol: Cut in Lending Prevented

Without the capital increase by the province of Tyrol, the bank would have been forced to cut its lending activities drastically.

December 27, 2011

Emco With Growth Plans

The new owner of the former A-Tec subsidiary, now can begin to realize its expansion plans.

December 27, 2011

Austrian SME Become More Cautious

Due to the weak economy, the euro-crisis, the decrease in public expenses and equity requirements, small and medium-sized enterprises are more reluctant for investments.

December 27, 2011

Polytec Sells Interior Business

The Austrian automotive component manufacturer sells its Spain-based interior segment. Results for 2011 are confirmed.

December 27, 2011

Erste Group: Capital Shortfall to be Covered by Profits

The new equity requirements will be fulfilled, Erste Group´s CEO Treichl says. The capital shortfall amounts to € 743m.

December 27, 2011

Growth Potential for Semperit

The Austrian synthetic product manufacturer already recognizes the weakening of the business cycle. However, investments will not be reduced. The BRIC countries are seen as future markets.

December 27, 2011

Polbank: RBI wants to Lower Price

The Austrian Raiffeisen Bank International delays the closing of the acquisition. RBI negotiates over a reduction of the acquisition price.

December 27, 2011

Austrian Government Wants to Save € 10bn

The coalition partners agreed to cut expenses by € 2.0bn per year until 2016. Details were not published.

December 27, 2011

Vienna Stock Exchange: Winners and Losers (2011-12-23)

Daily News-Flash from the Vienna Stock Exchange. Upgrades & Downgrades, Winners & Losers.

December 23, 2011

Tele2 Finalizes Acquisition of Silver Server

The Austrian Internet service provider is taken over for € 12.3m after the competition authority has approved the deal.

December 23, 2011

CA Immo, Warimpex and UBM Open Airport City St. Petersburg

The Austrian real estate companies concluded the first phase of the office building and hotel project in direct vicinity of St. Petersburg’s Pulkovo 2 international airport.

December 23, 2011

Capital Increase for Raiffeisen Hungary

In light of massive loss expectations the Hungarian subsidiary will reduce its headcount and close down several branches.

December 23, 2011

Strabag Group Expands Range of Services with Structural Timber Engineering

The German subsidiary Züblin gains access to the field of timber construction through an acquisition.

December 23, 2011

Brain Force Appoints New Chief Financial Officer

Hannes Griesser succeeds Thomas Melzer as CFO of the Austrian software company as of 1 January.

December 23, 2011

Record-Breaking Start of Tourism Winter Season

Austria’s tourism industry registered 3.98 million overnights in November. Arrivals rose by 3.5%.

December 23, 2011

Production Index Up by 3.0% in October

Production index in October 2011: +3.0% compared to October 2010, -0.3% against September 2011.

December 23, 2011

Moody’s Keeps Austria’s AAA

The rating agency points to Austria’s economic strength and attempts to introduce a balanced budget requirement in the constitution.

December 23, 2011

Palmers-Subsidiary Lejaby Under Pressure

A French court opened insolvency proceedings on the subsidiary of the Austrian clothing company.

December 22, 2011

Comeback of Al Jaber at Kneissl?

The creditors of the Austrian ski manufacturer will vote on a new restructuring plan after the takeover by a German group has failed.

December 22, 2011

Changes to the Executive Board of Hirsch Servo

Dr. Johannes Kappel will join the new two-member board of the Austrian machine manufacturer and packaging supplier.

December 22, 2011

Vienna Stock Exchange: Winners and Losers (2011-12-22)

Daily News-Flash from the Vienna Stock Exchange. Upgrades & Downgrades, Winners & Losers.

December 22, 2011

Alpine Receives Railroad Operator License

The Austrian construction company received official license from the Ministry of Transport, Innovation and Technology for freight transports today.

December 22, 2011

SPÖ Wants to Defend State’s Stake in Telekom Austria

According to State Secretary Andreas Schieder, the ÖIAG should defend its shareholding of 28%.

December 22, 2011

UniCredit Plans to Abolish “Bank Austria” Brand

The Italian group will rename several subsidiaries in order to standardize its brand presence.

December 22, 2011

Andritz Receives Major Order from Egypt

The Austrian technology group will supply the equipment for a hydropower plant on the River Nile. The order volume is € 107m.

December 22, 2011

Agrana Increases Earnings in First Three Quarters

The Austrian sugar and starch company expects revenues of € 2.5bn fort he full year 2011/12.

December 22, 2011

Vienna Stock Exchange: Winners and Losers (2011-12-21)

Daily News-Flash from the Vienna Stock Exchange. Upgrades & Downgrades, Winners & Losers.

December 21, 2011

Kuhn Holding Buys Emco

A purely Austrian solution was found for the former A-Tec subsidiary. The Austrian mechanical engineering company is acquired by Kuhn Holding.

December 21, 2011

OeNB Sees No Signs for Credit Crunch

The Austrian Central Bank reports a stable development of new lending. The volume of new corporate and private loans is growing at 2% each.

December 21, 2011

Crisis Reaches Austria’s Real Economy in 2012

Economic growth will collapse next year, investment activities and consumption will suffer from the crisis. A recovery is expected for 2013.

December 21, 2011

Fitch Calls for Higher Capitalization of VBAG, Raiffeisen, Erste

The Austrian banks’ viability ratings are under pressure due to low capitalization and the banks’ exposure to CEE.

December 21, 2011

EVN Raises Stake in Bulgarian Subsidiaries

The Austrian energy group acquired additional shares for € 45m in connection with the privatization process in Bulgaria.

December 21, 2011

Lenzing Group and smartfiber AG Intensify Their Cooperation

The Austrian fiber manufacturer takes over production of two specialty fibers from its German cooperation partner.

December 21, 2011

Brain Force Achieves Operative Turnaround

The Austrian software company reported growth in revenues of 2% in 2010/11. Profit after tax was down to € -1.37m.

December 21, 2011

Pecik Extends Stake in Telekom Austria

The Austrian investor Ronny Pecik is told to become the largest shareholder in Telekom Austria. Up to 29% are possible.

December 20, 2011

VBAG Sells Insurance Segment

The Austrian Volksbanken AG sells its stake in Victoria Volksbanken to Ergo Austria.

December 20, 2011

Siemens Austria Reports Strong Performance

The Austrian subsidiary of the German technology group shifts € 1.0bn dividends to its headquarters. Operating results were highly satisfying.

December 20, 2011

Business Insolvencies Declining

In spite of the economic cool-down, private as well as business insolvencies were going down in 2011.

December 20, 2011

Increase of Agricultural Income

First estimates of the Economic Accounts for Agriculture (EAA) compiled by Statistics Austria show an average increase of the income related to agricultural activities.

December 20, 2011

Vienna Stock Exchange: Winners and Losers (2011-12-20)

Daily News Flash from Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.

December 20, 2011

Immofinanz Reports Outstanding Results

The Austrian real estate group going strong in the first half of 2011/12: Group result has more than doubled compared to the previous year. Net Profits are up by 145%.

December 20, 2011