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austriamicrosystems to Be Included in SIX Swiss Exchange’s SPI Middle Index Basket
Inclusion of the Austrian microelectronics and semiconductor manufacturer in the SPI Middle index basket becomes effective September 19, 2011.
July 21, 2011
Blue Chip Energy Filed for Insolvency
The solar cell producer has abandoned production today. Asian investors are said to be interested in an acquisition of the Burgenland-based company.
July 21, 2011
voestalpine Sues EU Over Plans for Carbon Emissions
The Austrian steel company and four German competitors filed a lawsuit against the EU. They argue that CO2 emission targets are unrealistic and unachievable.
July 21, 2011
Vienna Stock Exchange: Winners and Losers (2011-07-21)
Daily News-Flash from the Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.
July 21, 2011
Agricultural Exports Are Booming
Foreign demand for fruits, vegetables and other products from Austria is growing. Exports went up 21% and amounted to € 2.18bn in the first quarter of 2011.
July 21, 2011
EVN Expands in Bulgaria
The Austrian electricity company invested € 5m in the construction of a solar power station in Bulgaria and increased its stake in a joint venture project in the country.
July 21, 2011
Crisis Reaches Retail Sector
Austria’s retail industry starts to feel the effects of a high inflation rate and the euro crisis. In May, revenues declined by 2.3%.
July 21, 2011
Immofinanz Generated New Funds in Russia
The Austrian real estate company reached an agreement on the refinancing of its logistics center in St. Petersburg. The new funds will be invested in further projects in Russia.
July 21, 2011
German Rail Cartel: Increasing Pressure on voestalpine
The German Federal Cartel Office made new inspections at a local subsidiary of the Austrian steel company. According to press reports, price fixing on the German rail market continued until 2011.
July 20, 2011
Credit Costs to Rise in the Wake of Basel III
The new regulatory requirements are expected to increase the cost of credits and to reduce the Austrian banks’ profitability.
July 20, 2011
New Attempt for Oil Pipeline Bratislava – Schwechat
New impetus for the Austro-Slovak infrastructure project: The pipeline would link OMV to the Russian network.
July 20, 2011
Vienna Stock Exchange: Winners and Losers (2011-07-20)
Daily News-Flash from the Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.
July 20, 2011
“Capital Gains Tax Has a Strong Negative Effect on Private Investment Volumes”
Erste Group Research expects a moderately positive performance for the ATX in the second half of 2011. Top picks: OMV, RHI, Immofinanz, voestalpine, AMAG, Kapsch, Polytec, AT&S.
July 20, 2011
Slight Increase in Used Car Registrations from January to June
Registrations of used motor vehicles in the first half of 2011: +2.4%; passenger cars +1.5%, lorries +1.0%.
July 20, 2011
Rise of Industrial Producer Prices Is Slowing Down
Prices of industrial goods gained 4.6% in May 2011. For the first time in six months the annual rate of change was less than 5%.
July 20, 2011
House Searches at A-Tec’s Management
Serious allegations have been made against Board Members of the Austrian conglomerate which is currently negotiating with potential investors. Eight houses have been searched.
July 20, 2011
update software AG Returns to Profitability
The Austrian software company, which is listed on the Frankfurt Stock Exchange, is on its way back to black figures. Sales went up 29.2% in the second quarter, EBIT improved to positive earnings of € 0.2m.
July 20, 2011
Declining Profit for AT&S in the First Quarter
The Austrian technology company had a difficult start into the financial year. EBIT more than halved to € 4.4m. Nonetheless, the outlook has been confirmed.
July 20, 2011
Food Prices Continue to Rise Rapidly
Within three months, prices increased by more than 8%. The Austrian Chamber of Labor asked the government to take countermeasures.
July 19, 2011
Economic Growth to Slow Down in Second Half of 2011
Real growth is predicted to fall to 0.3% in the third quarter. The forecast is based on reduced export prospects, a lower number of new orders and the euro crisis.
July 19, 2011
Prices of Household Energy Up 9.8% in June
Fuel, heating oil and gas were identified as main price drivers. Compared to the last month, a slight decline in energy prices was registered.
July 19, 2011
Intercell Is Looking for Financial Investors
The ailing Austrian biotech company is in urgent need of cash. An acquisition, strategic partnerships and a capital increase are being evaluated.
July 19, 2011
Hypo Alpe Adria Opens New Branches in Italy
The Carinthian bank is expanding its business in the neighboring country although the subsidiary will soon be in the hands of a new owner.
July 19, 2011
Vienna Stock Exchange: Winners and Losers (2011-07-19)
Daily News-Flash from the Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.
July 19, 2011
Julian Jäger and Günther Ofner to Take Over Management of Vienna Airport
Following the resignation of Christoph Herbst, Vienna Airport has selected Jäger and Ofner as new members of the Management board. They will take up work at the beginning of September.
July 19, 2011
RBI’s Direct Bank Zuno Starts Operations in the Czech Republic
Following the launch in Slovakia at the end of 2010, Raiffeisen’s direct bank now takes up business in a second country.
July 19, 2011
PE Firm Acquires Prefabricated House Specialist Hanlo
The Styrian provider of prefabricated houses was acquired by H.I.G. European Capital Partners. Company founder Hanno Loidl will remain active in an advisory role.
July 19, 2011
Verbund Sold Renewables Portfolio to Axa Private Equity
The Austrian electricity company disposed of Poweo’s renewable energy business as a step towards restructuring of its portfolio in France.
July 19, 2011
SensorDynamics Acquired by Maxim
The Styrian semiconductor company was sold to Nasdaq-listed Maxim Integrated Products. The American group will pay approximately $ 130m (€ 92.3m).
July 19, 2011
Stress Test: Erste Group and Raiffeisen Passed, Volksbank Failed
Volksbanken Group is the only Austrian bank that failed the stress test. Taking into account the measures that are currently being implemented, the core tier I ratio would be above the benchmark.
July 15, 2011
Gerhard Niesslein Becomes CEO of Orascom Development Holding
The Swiss-based town developer appoints Austrian Gerhard Niesslein as new CEO of the Group. Samih Sawiris remains Executive Chairman focusing on the firm's strategic development.
July 15, 2011
Vienna Stock Exchange: Winners and Losers (2011-07-15)
Daily News-Flash from the Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.
July 15, 2011
Meinl Bank in the Red
Meinl Bank surprisingly presented results on Thursday. The institute slid into the red, while the Group was able to reduce losses.
July 15, 2011
Erste Group Provided Financing for Hospital in Warsaw
The € 32m acquisition financing is the first private hospital financing in CEE of that size which has been closed by Erste Group and also a first in Poland for the bank.
July 15, 2011
Former Cheuvreux Duo Berger and Reisenberger to Work for Wiener Privatbank
Former Cheuvreux analysts Alfred Reisenberger and Eduard Berger join Wiener Privatbank as of August 1.
July 15, 2011
Atrium Executes Settlement Agreement with Multi Investment
As a result of the agreement, the American-Israeli real estate fund will receive net cash of € 64m and generate a profit of € 156m.
July 15, 2011
VBAG and Sberbank Agree on Sale of VBI
After several months of negotiations the two banks have agreed on the main conditions of the sale of Volksbank International. The deal will be closed by the end of this year.
July 15, 2011
A-Tec: Kovats Wants to Stay on Board
CEO Mirko Kovats does not want to give up control over the Austrian conglomerate. He is trying to push through a sale to his favorite bidder which would give him a role in the group.
July 15, 2011
Vienna Stock Exchange: Winners and Losers (2011-07-14)
Daily News-Flash from the Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.
July 14, 2011
Bankruptcy Judge Stops Production at Kneissl
The Austrian ski manufacturer continues the search for an investor. Production has been stopped by the judge in the bankruptcy proceedings.
July 14, 2011
Wealth Growth of Private Households Comes to a Halt
Austrian households’ financial assets increased only marginally to € 462bn in the first quarter. Investments in bank bonds were the driving factor with a total of € 1.1bn.
July 14, 2011
Austrian High Q Technologies Sold to US Company
The Austrian manufacturer of lasers is acquired by Californian Newport, a global supplier of advanced products and solutions in several technology fields.
July 14, 2011
Strabag Becomes Sole Shareholder of German Möbius
The Austrian construction company further expands its position in the German hydraulic engineering sector. A majority stake in Möbius had been acquired in 2007 already.
July 14, 2011
Inflation Rate Remains on a High Level
Consumer price inflation was steady at 3.3% in June 2011. Above-average price increases were registered for traffic and foodstuffs.
July 14, 2011
First Quarter: Agrana Improved Revenue and Earnings
The Austrian sugar, starch and fruit company increased revenue by 13.4% in the first three months of financial year 2011/2012. Operating profit went up 79.6%.
July 14, 2011
Missing the Kyoto Target Will Cost Austria € 800m
Total costs of missing the target for the period 2008 to 2012 will amount to not less than € 800m. € 450m have already been spent on the purchase of certificates.
July 13, 2011
Volksbanken Group Speeds Up Sale of VBI
In the face of the looming negative result of the stress test, the Austrian bank is trying to conclude negotiations with Russian Sberbank.
July 13, 2011
German LBBW Starts Sale of Property Portfolio – conwert Interested
An acquisition of the real estate portfolio is not affordable for the Austrian group. However, it might enter a partnership and take over the asset management.
July 13, 2011
Vienna Stock Exchange: Winners and Losers (2011-07-13)
Daily News-Flash from the Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.
July 13, 2011
Green Tech Industry as an Important Factor in the Styrian Economy
The Styrian green tech cluster has grown twice as fast as the global market over the last five years. More than 5,500 new jobs have been created.
July 13, 2011
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