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RBI Defies Hungary’s Banking Tax
The Austrian bank is not planning to pull out of Hungary. Losses from the conversion of foreign currency loans cannot be estimated yet.
September 22, 2011
Sale of A-Tec on the Brink of Failure
The Supervisory Board of the insolvent technology group wants to take up negotiations with Penta Investments again after a Pakistani investor pulled out of the deal.
September 22, 2011
Metal Workers Start Autumn Bargaining Round
Salaries of 190,000 employees in the metal industry will be negotiated. Trade unions demand substantial increases.
September 22, 2011
OMV Buys 500,000 Barrels of Condensate in Libya
It is the first supply from the war-torn country for the Austrian oil and gas group since March.
September 22, 2011
Immofinanz Acquires Property in Warsaw
The Austrian real estate company made its largest office property acquisition since 2008. The purchase price is € 102m.
September 22, 2011
OMV Strategy Update: “Profitable Growth”
OMV is hosting a Capital Markets Day and Media Summit in Istanbul to present an update on its strategy. The Strategy builds on growing OMV’s upstream portfolio, on expanding its integrated gas business and on restructuring the oil downstream segment
September 21, 2011
IMF: „NPL in Eastern Europe Decreasing“
After the announcement of the Hungarian government to convert foreign currency loans at the expense of banks, the IMF has good news for Austrian banks.
September 21, 2011
Strong Growth for Bernegger
The Upper-Austrian construction company could achieve a 7.5% growth in turnover.
September 21, 2011
Vienna Stock Exchange: Winners and Losers (2011-09-21)
Daily News-Flash from the Stock Exchange: Upgrades & Downgrades, Winners & Losers.
September 21, 2011
Management Rewards Rise Considerably
In 2011, Austrian managers benefit from an increase of their salaries by 4.1% on average. Most of the Austrian managers receive additional payments.
September 21, 2011
Sanochemia´s Purchase of Alvetra & Werfft Completed
The Austrian pharmaceutical group acquires the former subsidiary again for € 5.2m.
September 21, 2011
Austrian Population Forecast 2050: Growth from 8.4m to 9.4m People
The Austrian population is growing – and becomes older. In 2030, 9.0m people will live in Austria, 9.4m in 2050.
September 21, 2011
Andritz Acquires NSC Nonwoven, France and China
Austrian technology Group Andritz has signed a contract to acquire NSC Group’s nonwoven division encompassing its affiliates Asselin-Thibeau (Elbeuf, France) and NSC Wuxi (Wuxi, China).
September 21, 2011
Restructuring Program at Uniqa
The Austrian insurance corporation sets down one-time expenditures of € 190m in the 2011 balance sheet. Group annual result for 2011 expected to be a "flat zero" – notwithstanding any further negative developments on the capital markets.
September 21, 2011
Rising Sales for Bene
The Austrian office furniture manufacturer Bene could further expand its operations and turn the earnings positive.
September 21, 2011
No Dividends at Austrian Volksbanken AG
Österreichische Volksbanken Aktiengesellschaft – no payments on profit-related instruments for the 2011 business year.
September 21, 2011
Andritz to Supply Hydropower Equipment to Norway´s Statkraft
The Austrian Andritz Hydro has received a major order from Çetin Enerji A.S., a subsidiary of Norway's state owned electric utility company Statkraft,
September 21, 2011
Ringana Cosmetics Expands
The Austrian cosmetics manufacturer already has to raise its production capacities in order to meet rising international demand.
September 20, 2011
Verbund Said to Seek € 750m Credit Line to Refinance
Verbund AG, Austria’s biggest power company, is seeking a € 750m ($ 1bn) revolving credit facility to refinance maturing debt, according to a person with knowledge of the deal.
September 20, 2011
Layoff at UPC
The Austrian subsidiary of the U.S. group Liberty Global further reduces staff.
September 20, 2011
IMF: Austrian Growth Slabs
The IMF expects the Austrian economy to grow by 3.3% in 2011. Next year, GDP growth should fall to 1.6%.
September 20, 2011
German and Austrian Economy Claim Improvements for Company Loans
Representatives of the German and Austrian Economy fear adverse impacts for company loans from the new Basel III rules.
September 20, 2011
A-Tec Sale: Penta Sues
The Czech-Slovak investment consortium Penta, which made a bid in the A-Tec sale, sues against the award for the competitor Contor Industries.
September 20, 2011
Austrian Unit Labor Costs Down in 2010
The Austrian competitiveness improved in 2010. Against 2010, unit labor costs decreased by 5.5%.
September 20, 2011
Austerity Package at Vienna International Airport
The two new CEOs of Flughafen Wien, Julian Jäger and Günther Ofner announce to stop hiring new employees and to create a more efficient organizational structure.
September 20, 2011
Vienna Stock Exchange: Winners and Losers (2011-09-20)
Daily News-Flash from the Vienna Stock Exchange: Upgrades and Downgrades, Winners & Losers.
September 20, 2011
Decreasing Registrations of Cars in Austria
Registrations of used motor vehicles in August 2011: -0.7%; passenger cars -1.8%, lorries +1.9%.
September 20, 2011
New Index at Vienna Stock Exchange
Vienna Stock Exchange launches Top Dividend Indices for the ATX, CECE and CEESEG Traded Index today.
September 20, 2011
Austria and Azerbaijan Expand Cooperation
An Austrian delegation will hold several meetings with Azerbaijani ministries and private companies.
September 20, 2011
Serbia as Growth Market for Denkstatt
The Vienna-based environment consulting group Denkstatt intends to gain a foothold in Serbia.
September 19, 2011
Vienna Stock Exchange: Winners and Losers (2011-09-19)
Daily News-Flash from the Vienna Stock Exchange: Upgrades and Downgrades, Winners and Losers.
September 19, 2011
OMV Board Member Werner Auli to Leave Executive Board
After nearly 25 years of active service at the Austrian oil and gas company OMV, Werner Auli will be stepping down as a member of the Executive Board due to health reasons at the end of 2011
September 19, 2011
FPÖ Claims New Currency Area
The chairman of the Austrian Freedom Party, Heinz-Christian Strache, calls for the creation of a “core Europe” with a new currency.
September 19, 2011
OMV Publishes New Strategy
Gerhard Roiss became CEO of the Austrian OMV six months ago. This week, Roiss will present the company´s strategy at the capital market´s day in Istanbul, Turkey.
September 19, 2011
Turnaround of RCA Is „Very Close“
The restructuring process of the Rail Cargo Hungaria, a subsidiary of the Austrian Federal Railways (ÖBB) is going on. The rail cargo segment reports better results than expected.
September 19, 2011
S&P: „Austrian Banks Undercapitalized“
The rating agency Standard & Poor´s (S&P) sees a substantial undercapitalization for Austrian banks. The recommended rist-adjusted capital quota is 8%, Austrian banks are below.
September 19, 2011
Increasing Equity Quotas of Austrian SME
The average equity quota of Austrian SME in 2009/2010 was 28%. This is an improvement against the previous years. However, 30% of SMEs are overindebted.
September 19, 2011
New Austerity Measures at RHI
The new CEO of the Austrian refractory manufacturer RHI, Franz Struzl, insists on the expansion to BRIC-countries and the sales target of € 2.0bn.
September 19, 2011
Moderate Upward Trend for Industrial Producer Prices
Rise of the Austrian industrial producer prices in July 2011 by 3.6% compared to July 2010.
September 19, 2011
Vienna Stock Exchange: Winners and Losers (2011-09-16)
Daily News-Flash from the Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.
September 16, 2011
Alpine to Build Hotel in Warsaw
The Austrian construction group will be general contractor of the project in Poland. Total contract value is € 32m.
September 16, 2011
Slovenian Blue Chips to Double List at Vienna Stock Exchange
In order to align with international capital markets the Ljubljana Stock Exchange wants to offer Slovenian companies the chance of double listing.
September 16, 2011
Erste Group: BCR Needs Capital Boost
The Austrian bank’s Romanian subsidiary may need additional capital due to high risk costs and the overall economic situation.
September 16, 2011
AMAG to Expand Capacity of Canadian Smelter
The Austrian manufacturer of aluminum products is currently negotiating the project with four partners.
September 16, 2011
New Subsidiary of Novomatic Applied for Licenses
In a reaction to the amendment of the Austrian gaming law Novomatic has created a new company as an exclusive operating unit for the Austrian gaming market.
September 16, 2011
GDP Growth below Expectations in Q2
The real growth rate was revised downwards to 0.7%. Wifo expects a normal slowdown but no economic crisis.
September 16, 2011
Intercell Successfully Completes Vaccine Study in India
The Austrian biotech company achieved an important step in the licensure process of a vaccine for children.
September 16, 2011
Wolford Increased Sales and Earnings
In the first three months of the current fiscal year, the Austrian luxury clothing company continued on the growth path prevailing in the prior year.
September 16, 2011
Semper Constantia Invest Becomes Core Shareholder of German Praktiker
The Austrian investment company has increased its stake to become the second largest shareholder in the ailing German do-it-yourself store chain.
September 15, 2011
Insurance Industry: Moderate Decline in Premiums
Total premiums written dropped by 2.87% in the period from April to June. Life insurance business was down 11.23%.
September 15, 2011
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