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VIG Officially Bids for Polish Warta
Potential buyers of the Polish Warta insurance had to publish their offers by the end of October. Vienna Insurance Group participates.
November 7, 2011
Wholesale Prices Still on the Rise
Austrian wholesale price index in October 2011: +6.2% against October 2010.
November 7, 2011
Conwert Reorganizes its Activities
The Austrian real estate company will sell a major stake in the real estate broker Resag. Assets over € 600m should be sold this year.
November 7, 2011
C-Quadrat Announces Lower Net Profits
Net profits of the Austrian investment fund company for the period amounts to € 2.5m after 9.3m in 2010. Management fees were up by 35%.
November 7, 2011
Agrana to Expand into South Africa
The Austrian fruit and starch company consolidates its presence in South Africa and starts production of fruit preparations in Johannesburg.
November 7, 2011
Scepticism in Carinthian Industry
The current situation is satisfying in the Carinthian industry. However, for the future, many industrialists are less optimistic.
November 5, 2011
Capital Increase for Energie AG
The Upper-Austrian regional energy provider will raise its capital by € 200m.
November 5, 2011
Hungary Rejects Further Bank Charges
Contrary to its initial plans, Hungary will not resolve further aid measures for domestic loan takers. The government is seeking for cooperation with concerned banks.
November 5, 2011
Moody´s Considers Downgrade of Erste Group
The rating agency says that a downgrade of the long-term rating of Erste Group from “Baa1” to “Baa2”is probable.
November 5, 2011
Federal Railways: Debt Burden € 15.2bn
The Austrian Minister of Infrastructure, Doris Bures, announced the amount of debt for Austrian Federal Railways and Asfinag.
November 5, 2011
Red Bull Aims to Sell 4.6bn Cans
The Austrian energy drink producer wants to realize further growth. About one third of Red Bull´s budget goes into marketing.
November 5, 2011
Andritz: Analysts Optimistic
The Austrian engineering and technology group Andritz is expected to report a significant rise in sales, earnings and profits.
November 5, 2011
Winter Tourism: Austria is Favorite for Dutch
Dutch people appreciate Austria as winter tourism location. According to a survey, Austria is ranked on number one.
November 5, 2011
China Entry: Palfinger Under Pressure
In order to ensure the internationalization strategy, the Austrian cranes manufacturer is expected to show improvements in entering the Chinese market.
November 5, 2011
Austrians Increasingly Pessimistic
According to a survey, Austrians fear that similar developments to Greece will also occur in their country. Confidence in politics still worsens.
November 5, 2011
Palmers Seeks to Attract Investors
The Austrian clothing company expects sales of the current financial year to come in at approximately € 110m.
November 4, 2011
New Speculations about Austria’s Triple-A Rating
Current rumors about a possible downgrade are unfounded, according to a ministry spokesman.
November 4, 2011
Vienna Stock Exchange: Winners and Losers (2011-11-04)
Daily News-Flash from the Vienna Stock Exchange. Upgrades & Downgrades, Winners & Losers.
November 4, 2011
Moody’s: Downgrade of Erste Group Likely
The Austrian bank will likely be downgraded from “Baa1” to “Baa2”, the rating agency says.
November 4, 2011
Austrian Wage Increases below European Average
Real incomes are expected to go up by 0.8% next year. The average rate for Europe will be 1.3%.
November 4, 2011
OMV Considers € 1.5bn Credit Line
The Austrian oil and gas company is negotiating a major credit facility with a term of five years.
November 4, 2011
Palfinger General Meeting Supports Further Growth
The Management Board of the Austrian crane manufacturer was authorized to buy back own shares that may be used as acquisition funding.
November 4, 2011
No Signs of Slowdown at AMAG
The Austrian aluminum company reported solid growth figures for the first nine months of the year. Sales increased by 15%, EBIT was up 22% to € 90.7m.
November 4, 2011
Vienna Stock Exchange: Winners and Losers (2011-11-03)
Daily News-Flash from the Vienna Stock Exchange. Upgrades & Downgrades, Winners & Losers.
November 3, 2011
Kovats Complains against Court Order
A-Tec’s outgoing CEO challenges a court decision as he sees an infringement of his property rights.
November 3, 2011
S&P: Austrian Energy Suppliers more Robust than Competitors
Southern European providers are especially affected by the current debt crisis. Austrian companies “seem to be immune”, the rating agency says.
November 3, 2011
Capital Needs of Austrian Banks Total € 4bn
The increase is mainly a result of Erste Group’s third quarter loss, according to OeNB’s Executive Director Andreas Ittner.
November 3, 2011
Erich Hampel New Chairman of Bank Austria’s Supervisory Board
The Austrian succeeds Paolo Fiorentino who will remain on the board as deputy chairman.
November 3, 2011
Austrian Households Control Assets worth € 471bn
Despite a declining savings rate, households remain the most important provider of capital to domestic banks.
November 3, 2011
RHI Anticipates Slowdown in Business
The negative trend could come to an end in the second quarter of 2012. In the first nine months of the current year, the Austrian producer of refractory materials increased revenues and profit.
November 3, 2011
KTM Heading for Record
The Austrian motorcycle manufacturer increased turnover by 12%. Previous year’s profit was already exceeded in the first three quarters of 2011.
November 3, 2011
Uniqa Expects Loss of € 300m
The Austrian insurance group is writing down all of its Greek government bonds at fair value in the third quarter and will therefore not break even in profit on ordinary activities as originally anticipated.
November 3, 2011
Decreasing Importance of Blue Collar Worker´s Income
The share of wages in employed income decreases. The difference between blue collar and white collar workers further goes up.
November 2, 2011
Linz Believes in Victory Over BAWAG
The capital of the province of Upper Austria filed a lawsuit against Bawag, which is held by the U.S. investment funds Cerberus.
November 2, 2011
bwin.party to Enter USA
The British-Austrian gambling company has now found a partner in ordert o provide its gambling services in the U.S.
November 2, 2011
Benko to Acquire Kaufhof
The Austrian real estate investor René Benko plans to purchase the retail trade chain Kaufhof from the German Metro group.
November 2, 2011
No Nationalization of Austrian Banks
The head of the Austrian bank holding company Fimbag, Klaus Liebscher, believes that Austrian major banks do not need further capital provided by the state.
November 2, 2011
Polytec Considers Acquisitions
The Austrian automotive component supplier Polytec, which recently achieved the turnaround, now also considers to expand its business via external growth.
November 2, 2011
Sale of A-Tec Problematic
The insolvent Austrian A-Tec corporation, which is currently being dissolved, faces several problems. The sale of the remaining subsidiaries Brixlegg and Emco could be delayed.
November 2, 2011
Exports to Colombia to Surpass € 100m
Austrian exports to Colombia will exceed € 100m this year, reports the Austrian Chamber of Economics. Colombia has a strategic character for Austrian companies.
November 2, 2011
Austria Intensifies Economic Relations to Serbia
The President of the Viennese Chamber of Economics, Brigitte Jank, meets Serbian Ministers in Belgrade and sees a huge potential for Austrian companies.
November 2, 2011
Vienna Stock Exchange: Winners and Losers (2011-11-02)
Daily News-Flash from the Vienna Stock Exchange: Upgrades and Downgrades, Winners and Losers.
November 2, 2011
Business Crime: Every Second Firm Concerned
In Austria, business crime becomes more and more obvious. Often alertness is not really given.
November 1, 2011
AUA Claims Relief from Charges
Austrian Airlines seeks to reduce its charges at Vienna International Airport. This is due to the landing rights of the Emirates Airline.
November 1, 2011
BWT Wants to Become More Visible
The Austrian water technology company knows its main problem very well. Despite a solid business and a high degree of innovation, BWT is not very well-known.
November 1, 2011
Austrian Unemployment on the Rise
In spite of its low level compared to other EU-countries, the number of unemployed persons increased up to 300.000 in October.
November 1, 2011
Losses for Kommunalkredit Probable
The nationalized Austrian Bank has to build major provisions. Write-offs up to € 500m are possible.
November 1, 2011
Austrian Trade With China to Double
On the occasion of the state visit of the Chinese President Hu Jintao, the Austrian Minister of Economics stated to aim a deepening of the bilateral economic relations.
November 1, 2011
Weak Development for Austrian Private Insurers
After a substantial growth in 2010, this year shows only a slight upward trend for the insurance industry. The outlook however is rather pessimistic.
November 1, 2011
Good Prospects for AMAG
The Austrian aluminum company expects satisfying results for the third quarter of 2011. Also analysts have high sales and profits estimations.
November 1, 2011
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