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Raiffeisen: „Do Not Need State Capital“
Walter Rothensteiner, CEO of the Austrian RZB, intends not to sell shares in order to raise the equity base.
November 1, 2011
AMAG Builds New Plant in Canada
The Austrian aluminum manufacturer participates in a CAD 1.5bn contract. AMAG´s share is 20%. The project brings a new capacity of 355,000 tons.
October 31, 2011
Nationalization of Banks Not Excluded Anymore
According to the Minister of Economics, Reinhold Mitterlehner, in the worst case scenario a partly nationalization of banks could take place.
October 31, 2011
Nowotny Expects Lower Growth Rates
The head of the Austrian Central Bank (OeNB) Ewald Nowotny lowers the growth estimation for the Austrian economy.
October 31, 2011
Austria Keeps Lowest Unemployment Rate in EU
The EU27 unemployment rate was 9.7% in September 2011, compared with 9.6% in August4. It was 9.6% in September 2010. Austria leads the official statistics.
October 31, 2011
Vienna Stock Exchange: Winners and Losers (2011-10-31)
Daily News-Flash from the Vienna Stock Exchange: Upgrades and Downgrades, Winners and Losers.
October 31, 2011
Austrian IT Service Provider Expands to Canada
The IT-service company Navax has ambitious growth plans. Expansion should not only take place in Austria, but also in Canada, Switzerland and Germany.
October 31, 2011
PKN Orlen Interested in OMV´s Petrol Stations
The Austrian oil corporation OMV downsizes its operations in the Czech Republic. 220 Petrol stations are for sale.
October 31, 2011
Austrian Industrial Production Increasing
Opposing production trends in industry and construction in July 2011; turnover +7.4%.
October 31, 2011
Moderate Upward Trend in Austrian Construction Industry
Increase in volume of orders in civil engineering but decline in construction of buildings at the end of July 2011. Construction output increased by 1.0% in the first half of 2011.
October 31, 2011
BP Determines Purchase Contracts With OMV
The Austrian subsidiary of British Petrol ends up contracts with the Austrian oil corporation. Possibly better conditions should be negotiated.
October 31, 2011
State Visit: Hu Jintao in Austria
The Chinese President Hu Jintao arrived in Austria. Today the official meetings with the Austrian President Heinz Fischer and the Government will take place.
October 31, 2011
Full Order Books For VTA
The Austrian water technology company expects a substantial rise in sales for 2012. Recently an order from Indonesia has been recorded.
October 30, 2011
Unequal Distribution of Wealth in Austria
The richest 10% of Austria´s population possess 54% of the monetary wealth. Regarding real estate, inequality is observed too.
October 30, 2011
Erste Group´s CEO Wants to Avoid Further State Aid
Andreas Treichl, CEO of the Austrian major bank Erste Group, wants to prevent a further influence of the Austrian state.
October 29, 2011
Agricultural Exports Show Significant Rise
The Austrian agricultural exports reached almost their all-time high from 2008. Especially Italy is becoming increasingly important.
October 29, 2011
Silhouette Will Remain in Linz
For several years, the Austrian manufacturer of glasses experienced declining sales. Nevertheless, the management is optimistic.
October 29, 2011
Austria Email to be Sold
Because of the wish of its shareholders, the interest of the Buy-Out holding company could be sold soon.
October 29, 2011
High Expectations for RHI
Analysts forecast a substantial rise in sales for the Austrian refractory manufacturer. However, profits should decline, analysts state.
October 29, 2011
Orban Attacks Austrian Banks
The Hungarian Prime Minister Viktor Orban wants to release his country from the “debt slavery” and criticizes Austria´s reactions.
October 29, 2011
„Austria´s Triple A Not in Danger“
For the Austrian Minister of Finance, Maria Fekter, the status of the domestic economy is “well prepared”.
October 29, 2011
Chinese Companies Looking for Investment Opportunities in Austria
China’s President Hu Jintao comes for a state visit and is accompanied by a 160-member business delegation.
October 28, 2011
OeNB Dismisses Management of Money Printing Subsidiary
Three persons were fired for suspicion of unlawful actions. € 14m have allegedly been paid as bribe to secure a deal with Syria.
October 28, 2011
Croatian Parliament Abolishes 6% Mobile Service Tax
The local subsidiary of Telekom Austria benefits from the abolition of the special tax which caused expenses of € 15.2m in 2010.
October 28, 2011
RHI Wins Contract with voestalpine
The producer of refractory materials and the Austrian steel company extend their existing partnership for another three years. The contract has a volume of € 24m.
October 28, 2011
Vienna Stock Exchange: Winners and Losers (2011-10-28)
Daily News-Flash from the Vienna Stock Exchange. Upgrades & Downgrades, Winners & Losers.
October 28, 2011
Quanmax Raises Targets for 2011
The Austrian distributor of IT products benefits from the acquisition of S&T. Target turnover for the fiscal year has been revised to € 150m.
October 28, 2011
Emirates Wins Dispute over Air Rights
The Middle Eastern airline was allowed to offer 13 connections per week from Dubai to Vienna.
October 28, 2011
Austrian Industry Falls into Recession
Bank Austria’s Purchasing Managers’ Index shows a further deterioration of the economic situation. A slight recession is expected for the next months.
October 28, 2011
Changes in the Management Board of Teak Holz
Siegfried Mader takes over as CEO from Markus Baumgartner who becomes CFO. Klaus Hennerbichler and Pavel Brenner leave the Board.
October 28, 2011
Hirsch Servo Achieves Turnaround in EBIT
Total sales of the Austrian machine manufacturer and packaging supplier increased by 8%. EBIT improved by € 7.6m to € 2.2m.
October 28, 2011
Erste Group Reports Loss of € 1.49bn for the Third Quarter
The Austrian bank took extraordinary charges leading to a net loss of € 973.0m in the first nine months of 2011 and significantly reduced CDS exposure.
October 28, 2011
Vienna Stock Exchange: Winners and Losers (2011-10-27)
Daily News-Flash from the Vienna Stock Exchange. Upgrades & Downgrades, Winners & Losers.
October 27, 2011
Immofinanz Opens New Shopping Center in Romania
Total cost of the Austrian real estate company’s project amounted to € 100m, including a co-investment by French retail chain Auchan.
October 27, 2011
Reactions of Austrian Banks to Capital Buffer Requirements
Raiffeisen Zentralbank (RZB) needs € 1.9bn, Volksbank Group (VBAG) € 972m and Erste Group € 59m in order to comply with the EBA’s new requirements.
October 27, 2011
EU Calls for Opening of Labor Markets to Romanians and Bulgarians
The European Parliament wants a solution by the end of 2011 and does not see any negative effects on social welfare systems.
October 27, 2011
Germans Are Savings Champions Followed by Austrians
Erste Group Savings Study: Germans save most (€ 180 per month), followed by Austrians (€ 168) and Britons (€ 160). In CEE, the Czechs and Slovaks (€ 90) are the tireless savers.
October 27, 2011
Majority of Austrians Opposed to EU Rescue Package
850 respondents were asked their opinion before Wednesday’s summit meeting. 71% believe that the package is disadvantageous for Austria.
October 27, 2011
AUA Remains in the Red in 2011
The Austrian carrier improved its operating profit by 30% in the third quarter 2011. A positive result, however, will not be achieved in the full year.
October 27, 2011
European Banking Authority: Austrian Banks Need € 2.9bn
Banks are required to establish a buffer such that the Core Tier 1 capital ratio reaches 9%. A major part of the capital needs is attributable to Volksbank Group.
October 27, 2011
Verbund’s Result Influenced by Impairment Tests
The Austrian electricity group presented an improved operating result for the first three quarters of the year despite weak water supply.
October 27, 2011
Strikes at Post Possible
For the trade union, the staff policy of Austrian Post´s management is “not acceptable”. A deadline for CEO Pölzl is fixed by the trade union.
October 25, 2011
Verbund´s Subsidiary APG Going Public?
The IPO of Verbund´s subsidiary Austrian Power Grid is being discussed.
October 25, 2011
Hypo Group Plans to Sell Austrian and Italian Subsidiary
The nationalized bank continues its downsizing program. Major parts shall be privatized again now.
October 25, 2011
Vienna Stock Exchange: Winners and Losers (2011-10-25)
Daily News-Flash for the Vienna Stock Exchange: Upgrades and Downgrades, Winners and Losers.
October 25, 2011
S&T Shareholders Approve Capital Increase
Recapitalization of the Austrian IT consulting company authorized in today’s Extraordinary General Meeting.
October 25, 2011
Alpine and Strabag Fighting for the Concession for Zagreb’s Airport
European airlines are facing difficult times, but the demand for flights is still high. The future belongs to South European countries. Therefore, international airlines and airport operators are seeking their chance there.
October 25, 2011
„Extend Economic Ties to Georgia“
The Austrian Minister of Economics wants to cooperate closer together with Georgia, which offers export opportunities for the Austrian industry.
October 25, 2011
Growth in U.S. Winter Sports Market as a Chance
Against 2010, the U.S. winter sports market shows a rise in sales of 12%. The Austrian winter sports industry regards this as chance.
October 25, 2011
Industrial Production Still Rising
Austrian production index in August 2011: +5.6% compared to August 2010.
October 25, 2011
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