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Latest News

OMV to retreat from Russia

Austrian mineral oil company OMV wants to focus on Asia and therefore completely retreats its activity from Russia.

May 20, 2010

Stock Exchange opposes government’s attempt policy regarding introduction of transaction tax

Austria Stock Exchange expresses vehement discontent with the Austrian government’s intention to introduce the transaction costs in a solo attempt.

May 20, 2010

Austrian Post with a 33.4 million profit in first quarter

The total revenue decreased by 1.6 per cent to €585.6m. Compared to last year 912 workers were fired. Future developments are hindered by difficult market situations.

May 20, 2010

Solo attempt as an infringement of regulation

It sounds uneventful, also hardly known by relevant experts however contains explosive substance in the context of the debated transaction tax.

May 20, 2010

Welcome Air to expand its flight network

According to the Austrian Times, Tyrolean airline Welcome Air announced today that it would expand its flight network by autumn this year.

May 19, 2010

Vienna fuel-price summit on 27 May

According to the Austrian Times, there will be a fuel-price summit at the economy ministry on 27 May, it was announced today .

May 19, 2010

Tiger Lacke to enlarge production capacity in China

According to the Austrian Times, upper Austrian firm Tiger Lacke has announced it will increase its production capacity from 10,000 to 15,000 tonnes of powder lacquer annually near Shanghai.

May 19, 2010

Atrium European Real Estate Limited - First Quarter Results

Atrium European Real Estate Limited - First quarter results deliver profit and show continued improvements in efficiency.

May 19, 2010

CEESEG - Institutional Investors’ Demand Increasing Again

The institutional investors’ demand for the companies listed on the member exchanges of CEESEG is growing again after the difficult market situation following the financial crisis.

May 19, 2010

Bene AG - Sales decline for Bene in the financial year 2009/10

In a very challenging economic environment and after an impressive development in prior years, the Bene Group had to record significant declines in sales and earnings figures in the financial year 2009/10.

May 19, 2010

ÖAMTC - oil price are at September 2009 rates but fuel prices are 17 cents higher

Oil prices are decreasing in price however fuel prices are rapidly increasing. Crude oil prices are at levels of September 2009. At the time average prices for diesel were at €0.953 while “Super” was sold at €1.051.

May 19, 2010

Telekom and Mobilkom’s staff representatives prefer a fusion - „Together we’re strong”

To allow for a better representation of employees staff representatives of Mobilkom and Telekom agreed to form a demonstrative collusion.

May 19, 2010

Three Austrian firms amongst the top hundred Red Herring finalists

Three Austrian firms are amongst the top finalists fort his year’s „Red Herring Europe award“: Flimmit, Mobilizy and Nabriva Therapeutics Inc.

May 19, 2010

Mitterlehner relaxed about Euro crisis

People’s Party (ÖVP) Minister Reinhold Mitterlehner has said he will "observe the Euro crisis in a relaxed manner for the next few weeks."

May 19, 2010

China’s minister of economic affairs visiting Vienna

Chen Deming, Chinese minister of economic affairs signed contracts worth of $900m. President Heinz Fischer and Reinhold Mitterlehner (Austrian minister of economic affairs) he was accompanied by a delegation of 120 advisors.

May 19, 2010

National Council pro "Euro security shield"

Social Democrats SPÖ, People Party ÖVP and Green Party members Van der Bellen and Moser vote pro coalition while the freedom party rejects the referendum.

May 19, 2010

Alfred Gusenbauer will be Strabag's chief of supervisory board

The former SPÖ Chancellor succeeds Waldemar Jud as head of the supervisory board of Strabag.

May 18, 2010

Less mergers and acquisitions (M&A) in Austria

247 mergers and acquisitions in 2009, value of €11b, two-thirds were cross-border.

May 18, 2010

Intercell AG - Hospital bug vaccine delayed

According to an announcement by Zoe Schneeweiss and Namoi Kresge (Bloomberg) Intercell AG fell the most in two weeks in Vienna, after stating that a vaccine against a deadly hospital bug may be delayed to the first or second quarter of 2011.

May 18, 2010

Verbund to expand in Turkey

The subsidiary of Verbund and Sabanci Holding wants to bid on privatization auction of electricity networks in Turkey.

May 18, 2010

Romania - BRD Groupe Société Générale to overtake the largest bank Banca Comercială Română (BRC)

Ambitious goals for the Development Bank Romania (BRD): The second-largest institute of the country that belongs to the French Societe Generale (SG) wishes to ascend to the largest bank in Romania by 2015 - and thus pass “Erste” subsidiary BCR.

May 18, 2010

C.A.T. Oil AG - dividend announcement

The annual general meeting of shareholders of the company held on 18 June 2010, resolved to distribute dividends in the amount of €0.30 per eligible share for the fiscal year 2009.

May 18, 2010

phion AG - results of financial year 2009/10

IT security specialist phion - the majority of which was acquired by US group Barracuda Networks - was partly affected by reluctance of medium and large companies to invest in IT security.

May 18, 2010

Kapsch TrafficCom releases results for fiscal year 2009/10

Kapsch TrafficCom AG reported an increase in consolidated revenues at a reduced EBIT but at a clearly increased profit before as well as after tax in fiscal year 2009/10 as compared to the same period in the previous fiscal year 2008/09.

May 18, 2010

Saving energy with trams - Research Project EcoTram 3000 mwh to be saved

While trams are getting more and more comfortable they do require significant amount of energy for heating and cooling. The new project EcoTram aims to combine comfort and energy efficiency.

May 18, 2010

Austrian commercial aviation - 2009 a difficult year

In 2009 commercial aviation registered 22,6m passengers (including transit), 2.1m less passengers (8.5 per cent) compared to 2008. Airfreight decreased by 2.5 per cent or 209,200.3 tonnes while air mail also declined by 10.1 per cent.

May 18, 2010

Transaction tax - SPÖ plans a referendum

The Social Party Austria together with the German Social Party (SPD) plans to start a referendum on a financial transaction tax as well as financial regulation. It would constitute the first EU-referendum.

May 18, 2010

Inflation at 2 per cent in April

Austria’s inflation rate remains constant at 2 per cent in April compared to March. Without driving price developments of petroleum products (+23 per cent), inflation rate would register 1,1 per cent according to “Statistik Austria”.

May 18, 2010

WIFO-head - transaction tax yes, but not solo

If a tax is limited to one country it would result into a stock tax says the head of Austrian Institute of Economic Research Austria (Wirtschaftsforschungs Institut Österreich WIFO) Karl Aiginger.

May 18, 2010

Transaction tax is favourable to bank tax according to WIFO

According to WIFO (Institute of economic research Austria) a financial transaction tax (TT) is favourable to a bank tax (BT) on multiple grounds.

May 17, 2010

Manpower to break threshold of 3000 temporary workers

In 2009 25 branches were opened in Austria and a turnover of €84,3m was achieved.

May 17, 2010

Austrian health insurance sector recorded a small deficit

After last year’s surplus Austria’s 19 health insurance companies are expecting a minor deficit in 2010. According to May’s forecast a €11.8m decline is expected at an overall budget of 14.5 billion euros.

May 17, 2010