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Austria to Sell Nationalized Bank Kommunalkredit
The nationalized lender has to be sold by mid-2013. Finance Minister Fekter hopes for proceeds of € 500m.
November 29, 2011
Vienna Has the Best Living Standard
The Austrian capital defended its position as the city with the highest standard of living. It is followed by Zurich and Auckland.
November 29, 2011
Management Board Salaries Increased by 13.2% in 2010
Salaries for a company’s board members totaled € 3.4m, while compensations for supervisory board members amounted to € 182,000 on average.
November 29, 2011
Immofinanz Refinances Shopping Center in Poland
Two German banks arranged a € 210m facility for the Austrian real estate group’s Silesia City Center in Katowice.
November 29, 2011
Vienna Stock Exchange: Winners and Losers (2011-11-29)
Daily News-Flash from the Vienna Stock Exchange. Upgrades & Downgrades, Winners & Losers.
November 29, 2011
Austrian Post Intends to Grow through Acquisitions
CEO Georg Pölzl wants to invest € 100m in Eastern and Western European markets. The dividend might be raised to € 1.65 per share.
November 29, 2011
Strabag Wins New Orders for Environmental Technology Division
The Austrian construction group secured new business worldwide. The total volume is € 110m.
November 29, 2011
Warimpex Records Negative Result
The Austrian real estate company posted a loss of € 2.8m in the first nine months of the year despite a 10% increase in revenue from hotel operations.
November 29, 2011
Hirsch Servo Posts Loss of € 1.32m
Sales revenue of the Austrian machine manufacturer and packaging supplier declined by 6% in the first three months of fiscal 2011/12. EBIT dropped to € -0.26m.
November 29, 2011
VIG Acquires Polish Life Insurance Company Polisa
The Austrian insurance group rounds off its product portfolio in Poland. Polisa generated a premium volume of € 21m in 2010.
November 29, 2011
C.A.T. oil Maintains Positive Growth Momentum
The Austrian provider of oil and gas field services achieved an all-time high in operating activity levels. Revenue increased by 14.3% to € 74.7m in the third quarter of the year.
November 29, 2011
HTI Increases Revenues and Nine-Month Result
The Austrian technological group posted a plus in revenues of 7.2%. EBIT improved slightly from € 11.4m to € 11.6m.
November 29, 2011
Austria to Pay for Failing Kyoto
By 2014, Austria will have to pay penalties because of the missed Kyoto targets. Payments could amount up to € 1.0bn.
November 28, 2011
Benko Puts Pressure on Kaufhof
The Austrian real estate investor René Benko presents his growth program and wants to outbid his rival, the U.S. investor Berggruen.
November 28, 2011
OECD: 2012 Brings Stagnation
The OECD forecasts only a 0.6% growth rate for Austria. The euro-zone will experience a recession.
November 28, 2011
Austrian Tourism Industry is Cautiously Optimistc
The Austrian Minister of Economic, Reinhold Mitterlehner considers that the tourism industry has learned to deal with an economic crisis.
November 28, 2011
Energy Prices Rose by 12% in October
Austrian households have to pay a significant higher price for fuel and heating oil. Against October 2010, diesel price rose by 20%. Heating oil was up by 21.4%.
November 28, 2011
Romania Protests Against Austria´s Banks
The Austrian Central Bank and the Financial Market Authority announced to oblige domestic banks to reduce their exposure in the CEE region. Romania fears a credit crunch.
November 28, 2011
Austria to Participate in Merkel´s Bond Plans?
According to the German Prime Minister Angela Merkel, triple-A countries should issue common “elite bonds”. Austria should take part.
November 28, 2011
Vienna Stock Exchange: Winners and Losers (2011-11-28)
Daily News-Flash from the Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.
November 28, 2011
Strabag delivers € 320m Steelworks in Russia
The Austrian construction company has finished its works in Russia. The factory will produce sheet steel in particular to manufacture pipes to be used in pipeline construction.
November 28, 2011
Stock Swap at Erste Group
The Austrian bank increases its stake in the Romanian BCR by 6.23% against cash and issuance of new shares
November 28, 2011
Civil Servants Claim 3.9% Salary Increase
Negotiatons between the Austrian government and the trade union for civil servants did not bring an agreement.
November 26, 2011
Investigations Against Benko
The Austrian real estate investor Benko is suspected for money laundering. Benko denies and sees a link to the Kaufhof-deal.
November 26, 2011
Treichl to be Confirmed as CEO
Erste Group´s CEO Andreas Treichl will extend his function at the Austrian major bank.
November 26, 2011
Share Repurchase at Palfinger
The Management Board of the Austrian crane manufacturer resolves to exercise its authorization to acquire own shares. The maximum contingent is € 10m.
November 26, 2011
OMV Discovered Major Gas Field in Austria
The Austrian oil and gas group OMV found a major gas field in Northern Lower Austria. The gas could cover the domestic gas demand for 30 years.
November 26, 2011
Interest for A-Tec Subsidiary Brixlegg
The copper segment of the insolvent Austrian A-Tec group could find a new owner soon. An Austrian aluminum trader intends to purchase Brixlegg.
November 26, 2011
Austrian Exports to Morocco Booming
In spite of the turbulent developments in the Arab region, the Maghreb state could maintain a strong economic growth. In 2011, Austrian exports to Morocco rise by 16%.
November 26, 2011
Austrian Government Pushes for Further Austerity Measures
The Minister of Finance, Maria Fekter, did not exclude an austerity package. First effects should be seen already in 2012. However, it is not clear yet if economic forecasts for the next year will hold.
November 26, 2011
Bewag Sells TV Station BKF
The regional energy provider and a Viennese publishing house have agreed on the sale. Closing is expected to take place in December.
November 25, 2011
New Rumors about Takeover of Phone Service Provider Orange
“3” has reportedly offered € 1.4bn for an acquisition of its competitor. Assets worth € 300m might be sold to market leader A1.
November 25, 2011
Borealis to Acquire French Fertilizer Producer
The Austrian chemical company has made an offer to take over PEC-Rhin in its entirety.
November 25, 2011
Vienna Stock Exchange: Winners and Losers (2011-11-25)
Daily News-Flash from the Vienna Stock Exchange. Upgrades & Downgrades, Winners & Losers.
November 25, 2011
Pecik Now Owns 15% in Telekom Austria
The Austrian investor has bought additional shares in the telecommunication group, making him the second largest shareholder.
November 25, 2011
Significant Growth in Earnings for Frauenthal Group
The Austrian component supplier reported growing revenue for the period from January to September. EBIT increased by 26.5% to € 18.6m.
November 25, 2011
Austrian & CEE Investor Conference 2011 in New York
15 companies from Austria and CEE will participate in the conference on 28 November.
November 25, 2011
Volksbanken Group Result Negatively Impacted by Extraordinary Write-Downs
The Austrian bank posted a consolidated loss of € 689m for the first nine months of the year. The annual result is expected to decrease even further.
November 25, 2011
Andritz Receives Major Order for Power Station in Portugal
The Austrian technology group was awarded an order for the supply and erection of the complete electromechanical equipment for the pumped storage project Foz Tua.
November 25, 2011
Financial Market Authority Terminates Inquiry Against CEO of Erste Group
The head of the Austrian bank group had been accused of balance sheed fraud. A second investigation for alleged market manipulation is still ongoing.
November 24, 2011
S&T Realizes Capital Increase and Investor Participation
Quanmax AG and grosso holding are new majority shareholders of the Austrian IT consulting company, which is planning to return to profitability in three phases.
November 24, 2011
Production Index Up by 2.7% in September
Production index in September 2011: +2.7% compared to September 2010, -2.0% against August 2011.
November 24, 2011
Uniqa Reports Positive Development in Core Business
One-off effects of the “write-down of Greece” and the new focus of the Austrian insurance company significantly influence results for the third quarter of the year.
November 24, 2011
Voestalpine Broadens Measures to Safeguard Liquidity
The Austrian steel company has agreed on a syndicated loan of € 800m in two tranches in order to safeguard medium and long-term financing.
November 24, 2011
Vienna Stock Exchange: Winners and Losers (2011-11-24)
Daily News-Flash from the Vienna Stock Exchange. Upgrades & Downgrades, Winners & Losers.
November 24, 2011
Growing Capital Shortfall at Volksbanken Group
The Austrian bank will need another € 200m in order to comply with the EBA’s capital requirements. The price for the sale of VBI might be reduced to € 500m.
November 24, 2011
Uniqa Plans Sale of German Subsidiary Mannheimer
The Austrian insurance group’s new strategy brings increased concentration on Eastern European growth markets.
November 24, 2011
Vienna Airport – Decline in Net Profit Due to Special Effects
Results were burdened by impairment charges and non-recurring effects relating to the Skylink terminal extension and the investment in Košice Airport. Net profit amounted to € 20.2m.
November 24, 2011
RBI Posts Decline in Nine-Month Profit
The Austrian bank might have to write down the goodwill on its Ukrainian subsidiary. Consolidated profit declined by 4.8% to € 745m in the first three quarters.
November 24, 2011
S Immo Increases Profit to Over € 20m
The Austrian real estate company reported strong results for the first nine months of the year. EBIT improved by 63% to € 74m.
November 23, 2011
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