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Supreme Court: Investors Misled by Meinl European Land Promotional Brochure
The Supreme Court ruled in favor of an investor who was led astray by a MEL-shares promotional brochure. The Meinl Bank describes the ruling as "contradictory," and as "not a good sign for the Austrian capital market."
September 30, 2010
Austria exceeds the Maastricht GDP reference value by 0.5%
Public Finances 2009: Public deficit increases to 3.5% due to the economic and financial crisis.
September 30, 2010
Unemployment - Total number of persons unemployed down by 12.5%
In the third quarter of 2010, the total number of persons unemployed according to international definitions was 194,100, a decrease of 27,700 persons (-12.5%) compared to the third quarter of 2009.
September 30, 2010
Austria - Construction orders down by 4.6% in June
Volume of orders in construction of buildings and civil engineering decreasing by 4.6% at the end of June 2010.
September 29, 2010
Austria - Construction output down by 9.1%
Output of construction of buildings and civil engineering decreasing from January to June 2010: -9.1%
September 29, 2010
Austria - Turnover in industry and construction in June 2010 up 14.3%
60,657 enterprises in the entire industry and construction sector turned over a total of EUR 19.7 bn.
September 29, 2010
Raiffeisen Invests in New Branches in the Czech Republic
Raiffeisenbank a.s., the fifth largest bank in the Czech Republic, expands its network of branches in the neighboring country.
September 29, 2010
Wolford - Werner Baldessarini to be appointed as a member of the supervisory board
Ex-chief of Hugo Boss, the Kufstein born Werner Baldessarini is to support the Austrian hosiery and underwear manufacturer Wolford.
September 29, 2010
Insolvent AvW Invest AG Cannot Submit Financial Statements
The Carinthian financial company AvW, belonging to Wolfgang Auer-Welsbach who is in custody, cannot provide the necessary documents to prepare its financial statements.
September 29, 2010
Mondi - Russia's Syktyvkar Mill modernized
Paper and packaging group Mondi confirmed that the modernization of its Russian mill was complete and the mill was ready to meet Eastern Europe's growing demand for uncoated fine paper and container board.
September 29, 2010
Russian Machines: Siegfried Wolf Obtains a Stake and Receives Clear Voting Rights
Siegfried Wolf, one of the two former top executives of Magna International not only changes over (as reported) to Oleg Deripaska's “Basic Element” company, but will also have a stake in it.
September 29, 2010
Deripaska: Back to Austria as Strabag Shareholder?
In 2 weeks, on October 15, the deadline expires for Oleg Deripaska to re-purchase his 25% share of the domestic construction company Strabag for about half a billion euro.
September 29, 2010
Magna: Rapprochement to Opel through Astra-order
Magna will take over the development of a new Opel Astra model. Just a year ago, Magna attempted to acquire the whole German GM subsidiary, but the takeover was aborted by General Motors.
September 29, 2010
EU: Austria's Actual Net Contribution has Risen to 342 Million Euro
The net contribution to the EU rose again last year. Poland, with 6.5 billion euro is for the first time the biggest net recipient. Germany remains the biggest net payer with 8.1 billion euro.
September 28, 2010
BayernLB has to Wait 7 Years for 3.9 Billion from Carinthia
After the debacle of the Hypo Group Alpe Adria (HGAA), the Bayerische Landesbank will have to wait up to 7 years for the repayment of the 3.9 billion euro. The repayment plan provides for this period.
September 28, 2010
Humanomed Takes Over Management of Private Clinics in the CEE Region
The know-how of the private clinic operator is to be exported. The objective is not to only give advice, but also to take over the management of private clinics in the CEE region.
September 28, 2010
“GmbH light” Coming in Early 2011
The minimum capital will amount to 10,000 euro. Currently, the Amtsblatt (Official Journal) is still reluctant to reduce its fees for mandatory publications.
September 28, 2010
Insolvencies: Declining Trend for Both Companies and Individuals
KSV expects 10% less insolvencies for 2010, but warns about the consequences of fiscal budget adjustment.
September 28, 2010
Vienna Stock Exchange - Launch of Three Net Dividend Indices
The Vienna Stock Exchange launched three new indices today: ATX Net Total Return (ATX NTR), CECE Net Total Return (CECE NTR) and RDX Net Total Return (RDX NTR).
September 28, 2010
Austrian Real Estate: Increased supply of 339%
Office space supply is on rise, but demand is lagging behind. Prime rents and yields went down y/y.
September 27, 2010
CEE Real Estate: Outlook is brightening
CEE real estate stocks are currently in a phase of brisk corporate action. Financially sound companies with attractive assets are interesting takeover targets, while other companies are being taken over.
September 27, 2010
Elections in Styrya: SPÖ manages to claim first place, just.
The SPÖ was able to claim the first place after a thrilling count against the ÖVP. The FPÖ was able to double results as compared to 2005, and gets into the Landtag again.
September 27, 2010
ÖBB: 100 Million Euro Savings Through Improved Purchasing
ÖBB want to save 100 million Euro during the next three years with cheaper and better organized purchasing. Shunting and traction are merged.
September 27, 2010
Meinl Bank Pays 6 Million Euro: Airport Intl. and Power Intl. Reach a Partial Agreement
Meinl Bank and International Power pull back all the claims against each other, except those in the arbitration court.
September 27, 2010
Immofinanz: Net Income Decreases by 57%
Immofinanz AG showed half as much profit in the first quarter after its merger, as a lasting non-recurring effect from the first quarter. Earnings per share diluted after the merger with Immoeast.
September 27, 2010
Bank Austria: Primeo-investor Wins in First Instance
An investor asked Bank Austria to sell her Primeo participation two months before the Madoff fraud was busted, but Bank Austria has not paid up yet.
September 27, 2010
A-Tec - Franz Fehringer appointed as CFO
Franz Fehringer, head of the Treasury and Accounts Department, and a member of the management team, has been appointed as the group´s Chief Financial Officer.
September 27, 2010
Austrian Financial Services Discover Immigrants as Customers
Around 1.47 million people living in Austria have a migration background. Therefore, immigrants are an important target group for business. Domestic banks have also been getting into the so-called ethnic banking recently.
September 24, 2010
UniCredit: Andrea Orcel is Possible Successor to Profumo
Andrea Orcel, chief executive of the Global Banking and Markets division of Bank of America Merrill Lynch is rumored to be the favorite in the race to succeed the retiring UniCredit CEO Alessandro Profumo.
September 24, 2010
Austrian tourism - summer season 2010 plus 1.1%
The most important summer month stabilizes the positive development of the current season (+1.1%)
September 24, 2010
Oerlikon: Acquittal for Stumpf, Vekselberg, Pecik
In the case of Oerlikon, the Swiss Federal Criminal Court acquitted investors Viktor Vekselberg, Georg Stumpf and Ronny Pecik from the charge of violating the Exchange Act in the case of OC Oerlikon.
September 24, 2010
Elsner Provides Help in Finding Missing Bawag Funds
Former BAWAG CEO wants to clarify the fate of 1.7 billion euro of failed investments allegedly made by the speculator Wolfgang Flöttl to the detriment of BAWAG.
September 24, 2010
A-Tec has Good Prospects on Shipping Company in Rijeka
The Croatian Competition Agency (ATZN) gives the Austrian A-Tec group under Mirko Kovats good chances in the bid for the privatization of the shipyard "3 Maj" in Rijeka.
September 24, 2010
Vienna Insurance Group - Pre-tax profit forecast of 10 percent expected for 2010 and 2011
During the meeting of the supervisory board of the Vienna Insurance Group AG, the managing board advised that the target increase in pre-tax profit of at least 10 percent for the current business year is to be attained as planned.
September 24, 2010
Lenzing places EUR 120 million corporate bond with mainly private investors
Lenzing AG, a world market leader in man-made cellulose fibers, placed a seven-year corporate bond with a coupon rate of 3.875 %.
September 24, 2010
C-Quadrat stake held by AvW to be sold by auction
The liquidator of AvW Gruppe AG has decided, that the 32.59% stake in C-Quadrat Investment AG (1.422.365 shares) will be sold by auction on October 13, 2010.
September 24, 2010
MTH Handels-Holding of Josef Taus permitted to acquire German retail chain Mäc-Geiz
The sale of the insolvent German retail trade chain Mäc-Geiz has been completed. Anti-trust authorities have approved the takeover of the German company by MTH Handels-Holding GmbH (Vienna) controlled by the Austrian industrialist Josef Taus.
September 23, 2010
Alpenmilch and Käsehof Under the Leadership of Christian Leeb
After the merger between Alpenmilch Salzburg and Käsehof in the summer of 2010, both companies are under common management: Alpenmilch CEO Christian Leeb has now been appointed by the General Assembly also as Käsehof CEO.
September 23, 2010
Austria Continues Being the Largest Investor in Romania
"Romania is an important market in Eastern Europe for the Austrian economy. Its great importance for us is proved by the fact that Austria is by far the largest investor in Romania"
September 23, 2010
HTI Subsidiary Gruber & Kaja Receives 45 Million Euro Contract
HTI technology group wins a new major contract worth a total of around 45 million euro to be executed in the term of eight years.
September 23, 2010
Böhler-Uddeholm Forge Operation Obtains 130 Million Euro From voestalpine
The stock exchange listed steel group voestalpine has invested 130 million euro in a new forge operation at Böhler Edelstahl, Kapfenberg.
September 23, 2010
Furniture Trade Grows by Feeble 1.6%
Austrian furniture retail-sales reported a growth of just 1.6% and therefore has showed growth for the sixth consecutive time. The low rate is due to products that are actually not furniture.
September 23, 2010
Magna International - Openings of New Plants in St. Petersburg Area
Magna International Inc., the world’s most diverse automotive supplier, announced today the opening of three facilities in the St. Petersburg, Russia, area.
September 23, 2010
Economy - Registrations of motor vehicles up in August
Registrations of used motor vehicles in August 2010: +9.9%; passenger cars +11.4%, lorries +6.6%. A total of 85 041 registrations of used motor vehicles were observed in August 2010, which is 9.9% more than in August 2009.
September 23, 2010
Uniqa: Boss Klien Will Leave Mid-2011
The Supervisory Board of Uniqa has decided that CEO Konstantin Klien (59) will retire prematurely in mid 2011.
September 22, 2010
Foreign Direct Investments (FDI) Declined by 80%
Participation in companies and real estate are attractive, but Austrian firms are reluctant to make acquisitions in Eastern Europe.
September 22, 2010
Madoff Fund Report: Enormous Fees Without Any Value Added
After 9.5 years, 50,000 euro would have been eaten up by the "Primeo Select Fund" because of the high fees, is the opinion of an investors’ lawyer about the monies invested by Bank Austria with Bernie Madoff.
September 22, 2010
Liebherr Lienz Employees on Short Time
The refrigeration equipment manufacturer requests AMS for short-time working aid from mid-October to mid-April 2011. Liebherr had 80% of its workforce working short time already in 2009. At the Lienz site, a staff of 1,475 is currently employed.
September 22, 2010
Profumo Resigns: Bank Austria’s Parent Group UniCredit Under Pressure
The surprise departure of UniCredit CEO Alessandro Profumo is the talk of the town in the financial industry, also in Austria.
September 22, 2010
CEE Banking Sector Report: Still More Credit Losses in the East
The number of bad loans is expected to increase considerably in some Eastern European countries, a Raiffeisen-analysis shows.
September 21, 2010
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