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Rise in industrial production prices
New rise in industrial production prices in May 2010: +0.8% from previous month, +2.9% compared to May 2009.
July 20, 2010
Telekom Austria's verifies sale to Russian MTS
Telekom Austria (TA) checks on behalf of the Finance Ministry its own sale to the Russian telecom company MTS.
July 20, 2010
Constantia Packaging - shareholders will be reconciled with €47
The new owners of Constantia Packaging make cash payment of €47 ($60.61) per share to its minority shareholders.
July 20, 2010
Andritz receives major order for new stainless steel works from China
International technology Group ANDRITZ has received an order from Fujian Fuxin Special Steel Co. Ltd. to supply major components and systems for a new stainless steel plant in Fujian Province, China.
July 20, 2010
East-Europe Bank - "Hungary carries risks of infection"
The proposed bank tax against the wishes of the IMF is not a good sign, says the head of the European Bank for Reconstruction and Development (EBRD).
July 20, 2010
EVN - Majority of Bulgarian Gorna Arda is sought
Lower Austrian electricity company plans to acquire 70 percent of a hydroelectric project.
July 20, 2010
Mitterlehner calling for judicious austerity measures
Economics Minister Reinhold Mitterlehner warns EU countries about excessive savings. "Instead of linear cuts, you should save intelligently. Otherwise, domestic consumption is decreased too much," said Mitterlehner.
July 19, 2010
OeNB stresses its commitment to reform
The Austrian National Bank (OeNB) has announced its continuation of current reform policy, in light of stringent austerity measures announcement. Simultaneously, the OeNB said in a press release that its nationalisation has no impact on its independence
July 19, 2010
Hungary rejects additional austerity measures
Hardened front between the Hungarian government on the one hand and the International Monetary Fund (IMF) and the EU on the other side: highly-indebted Hungary has ruled out further austerity measures.
July 19, 2010
Banks threaten with drastic job cuts
Bankers warnings on impact of the stricter financial rules, five to ten thousand jobs are threatened.
July 19, 2010
Eco World Styria - Styrians to outstrip U.S.
The network meets the future on the international market as "The World's Green Tech Valley": a success story.
July 16, 2010
Vienna Stock Exchange - 2,650 points by the end of the year
Compared to the world's major stock exchanges the ATX is seen as an average performer with -5% in the first half of this year.
July 16, 2010
EURO - Confidence returns
Patient Euro is on the road to recovery. Europe's debt crisis and the financial problems mainly of Greece greatly affected the exchange rate earlier this year. Now, the Euro regains strength. After the low of $1.18, the Euro recovered step by step rising
July 16, 2010
Wage dumping
It is unusual that the former Austrian Trade Union Federation President Rudolf Hundstorfer finalised a draft law without a vote of social partners.
July 16, 2010
Economy shrank by 3.9 percent in 2009
The Austrian economy has shrunk even more in 2009 than previously expected.
July 16, 2010
Defying EU fusion reactors
According to calculations of the Green Party Federal Councillor Elisabeth Kerschbaum the project costs Austria €158m.
July 15, 2010
Karl-Heinz Strauss new boss of Porr
The Carinthian project developer and CEO of numerous private foundations and major shareholder of Porr Karl-Heinz Strauss is the new boss of the construction company.
July 15, 2010
Stress tests - according to Cernko, Austrian Banks in the bottom third
Referring to speculation according to which Austrian banks with their relatively low equity ratio should not perform that well, Bank Austria CEO Willibald Cernko said "If one considers capital only, they will be at the top of the bottom third."
July 15, 2010
Vienna Stock Exchange buys 16.5 percent stake of the Ljubljana Stock Exchange
The Vienna stock exchange holding company, CEE Stock Exchange Group (CEESEG AG), has made some arrangements with minority shareholders of the Ljubljana Stock Exchange to purchase the remaining shares of its Slovenian subsidiary.
July 15, 2010
Union speaks of "death blow" for Austrian Railway
In the context of the forthcoming increase of capital of Verbund hydro electrical plants could be bought from the Austrian Railway Network ÖBB.
July 15, 2010
Raiffeisen recommends - "Hands off of Gold"
RLB-manager Gerhard Rehor interprets rising gold price as signs of a bubble, and discourages investment.
July 14, 2010
Expensive oil products - Inflation rises to 2.0 percent
The inflation rate was held high in June compared to last year due to higher prices of petroleum products.
July 14, 2010
Public debt an obstacle for companies
Uncertainty of government bonds increases financing risk warns S & P – Euribor registers eleven months high The uncertainty about the financial situation of some European countries could have an impact on sensitive companies. The U.S. rating agency St
July 14, 2010
Stress tests could be price-sensitive information
At the political level it is fiercely debated how detailed the publication of the stress test should be. The FMA currently tests whether the stress test results are stock market relevant, compulsory publications.
July 14, 2010
Stress tests pose problems
Results of stress tests will be published later than expected - assumptions behind tests create uncertainty.
July 14, 2010
Austria's largest construction companies by revenue
Strabag SE in 2009 remained by far the largest construction company in Austria.
July 13, 2010
Nowotny - raising the "retirement age"
Higher life expectancy, rising deficits: Austrians should therefore delay retirement, says National Bank's CEO Nowotny.
July 13, 2010
Bwin’s successful World Cup record
bwin, the world's leading online gaming operator, recorded a record sports betting turnover at the 2010 Football World Cup compared to previous major events.
July 13, 2010
Local banks in stress test "within normal range"
OeNB Governor criticizes EU Commission: State aid procedure too long - debt reduction, dampening the economy Austria's banks performed within "the normal range, in midfield," the Governor of the Austrian National bank (OeNB) and Governing Council memb
July 13, 2010
Andritz Hydro to supply propeller turbines for Lower Mattagami hydropower project, Canada
International technology Group Andritz has been awarded a contract by Kiewit-Alarie a Partnership to supply three propeller turbines and generators for the Lower Mattagami River Project being developed by Ontario Power Generation in Ontario, Canada.
July 13, 2010
Slowdown expected in the third quarter
A return to recession is not expected according to economists at Bank Austria, but the peak was now surpassed.
July 13, 2010
UniCredit's Profumo proposes 20-billion rescue fund
Head of Bank-Austria parent UniCredit, Alessandro Profumo, has announced his ambitions for a privately financed € 20 billion heavy rescue fund for troubled European banks.
July 12, 2010
Duel for lead of construction group
At the Board meeting next Thursday the new head of the construction at “Porr” could be decided.
July 12, 2010
Transaction tax - OECD European solo attempt
According to Jeffrey Owens, head of the OECD's tax department, a transaction tax only makes sense if it relates to the financial centres on a global scale.
July 12, 2010
Crisis causing private bankruptcy
Unemployment and less income: more than 50,000 people last year turned to a debt counselling bodies.
July 12, 2010
Pröll on economic status quo, "thunder and lightning are over"
The EU has demonstrated that "it is able to act in one of the worst crises, even if there were some mistakes," says Austrian Finance Minister Josef Pröll.
July 12, 2010
Foreign Trade Deficit, despite growth
Statistik Austria has published Austria’s trade balance. There are, increases in imports and exports.
July 12, 2010
Magna International AGM - Shareholders will vote about Frank Stronach’s future
The Austrian-Canadian supplier Magna International set a new general meeting for July 23rd, to vote about the retreat of founder Frank Stronach.
July 9, 2010
Vienna Stock Exchange - Strong rebound situation similar to 2009
Despite a poor image in the chart last week the ATX registered a strong rebound.
July 9, 2010
Hungarian burden for Austro-banks
Raiffeisen International (RI) CEO Herbert Stepic expressed his concerns during a general conference.
July 9, 2010
The high debt burden of Austria as target for speculators
In the crisis years 2008, 2009 and 2010, the public debt mountains are exploding. In the EU, the debt within three years has increased from 60 to 80 percent of GDP.
July 9, 2010
Voestalpine AG - Resolutions of AGM
Voestalpine AG Annual General Meeting approves dividend and share repurchase program.
July 8, 2010
Siemens - Major contract in the Czech Republic
Siemens to build a photovoltaic system for about €10m
July 8, 2010
International companies discover Austria again
In the first half of 2010, 93 companies settled in Austria; in the same period in 2009 there were only 84. Total investment volume tripled from €37m ($46,95m) to almost €103m ($130,69).
July 8, 2010
Banks swap gold - Caused by Central banks?
European banks have tons of bunkers gold at the "Super Fed" BIS (Bank for International Settlement). But they could have acted only as intermediary.
July 8, 2010
Fight against early retirement - Companies should pay
The Wifo suggests that firms should pay if their employees are sick and are sent into early retirement.
July 8, 2010
Stress tests - Erste Bank and RZB on the list
91 European banks will have to undergo stress tests of European regulators. Two Austrian institutions will be tested as well.
July 8, 2010
REWE takes remaining 25 percent od ADEG
Rewe acquires Adeg. Two years ago, the group took over 75 percent of the retail chain in Austria. The deal does not require to be registered at the European Commission. Adeg is already completely integrated into Rewe.
July 7, 2010
AWD - Commercial Court allows class action
Consumer information association (VKI) goes to court on behalf of 1,300 investors.
July 7, 2010
Hungary rejects amendments to bank levy
At the start of negotiations with the International Monetary Fund (IMF), the Hungarian government ruled out an amendment of the introduction of the controversial bank tax.
July 7, 2010
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