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ÖIAG Offers Resistance to Pecik
The Austrian state holding ÖIAG seems to organize resistance against the new shareholder at Telekom Austria, Ronny Pecik.
April 13, 2012
Austrian Purchasing Power on the Rise
In spite of the austerity package, disposable income is increasing. Last year, income was up by € 500 per head.
April 13, 2012
Austria Tries to Adapt its Image
In order to attract foreign investors, Austrian companies are attempting to amend the country’s image. Instead of tourism and culture, the industrial sector and the expertise should be underlined.
April 13, 2012
Wienerberger Builds Firewall Against Hostile Takeover
The Austrian brick producer plans to lower the marginal value for takeover offers to 20%.
April 13, 2012
SW Umwelttechnik Improved Earnings
The Austrian environmental technology company still records operating losses. Turnover fell considerably.
April 13, 2012
Fekter to Remain as Finance Minister
This week, rumors on the replacement of the Austrian Finance Minister Maria Fekter occurred. Claus Raidl, who was said to replace Fekter, denies this.
April 13, 2012
Erste Group Sells Property
The Austrian banking group shifts its headquarters to the new Vienna main station in three years. The property sales are essential due to equity restrictions by EBA.
April 13, 2012
Swiss-Austrian Tax Treaty to be Signed
The tax treaty between Austria and Switzerland will be signed tomorrow on Friday. The tax rate is set at 38%.
April 12, 2012
Alpine Shortlisted for Crossrail Fit-Out in UK
Austrian construction firms team up to make the shortlist for fit-out work on 52km of Crossrail tunnels. Worth GBP 400m this represents one the largest contracts on the new east-west rail link across London.
April 12, 2012
AUA Expected to Record High Losses Again
This year, Lufthansa-owned Austrian Airlines is anticipated not to reach the profit zone. In the first quarter, fees and fuel caused higher costs of € 28m.
April 12, 2012
Verbund Focuses Investments on Austria
The Austrian energy company plans investments of € 2.4bn in the next five years. About 66% of these investments will be made in Austria.
April 12, 2012
Call for Structural Reform of Social Policy
The Federation of Austrian Industries reaffirms the high non-wage labor costs and intends to raise efficiencies in the health sector. The retirement age would be too low.
April 12, 2012
Austrian Industry Underlines Importance of „South Axis“
According to a recent study, the Southern Railway (Südbahn) creates 15,000 new jobs. The value creation totals € 15.5bn.
April 12, 2012
Voestalpine Indicates Significant Increase in Revenues
The Austrian steel company recorded about € 12.0bn in revenues last financial year. 25% of the revenues are based on exports apart from Europe.
April 12, 2012
Austrian Airlines Record All-Time-High in Passengers
In March, 893,600 passengers were carried by AUA, which is an increase by 12 percent. In the first quarter, the passenger number rose by 10.1% to 2.3 million. However, fuel costs also reached a new record level.
April 12, 2012
Good Prospects for ATX
According to Paul Severin at Erste Asset Management, Austrian equities may face a significant upward trend.
April 12, 2012
Strabag to Expand in Danube Region
In order to develop the Danube region of Hungary, Serbia, Romania, Bulgaria and Ukraine, the Austrian construction group expands its hydraulic engineering business.
April 12, 2012
Waldner: “Serbia Needs to Continue its Approach to the EU Unwaveringly”
Wolfgang Waldner, Austrian State Secretary is on a working visit in Belgrade.
April 12, 2012
Health Insurances Reduce Debts
Over the last three years, Austrian health insurance institutes could cut debts by € 1.0bn, which is substantially more than expected.
April 12, 2012
Frauenthal to Sell Catalyzer Segment
The Austrian supply company intends to sell the “industrial honeycomb” segment with revenues of € 80m and 350 workers.
April 11, 2012
Tax Treaty with Switzerland Close to be Finished
Austria aims for reach a tax agreement with Switzerland in order to tax illegal funds deposited by Austrian nationals at Swiss banks. An agreement seems to be within reach.
April 11, 2012
Austrian Investment Funds down by € 10.7bn in 2011
Last year, Austrian investment funds registered a negative performance of 32%. Eurozone-funds were down by 19.52%, U.S. funds only by 3.0%.
April 11, 2012
Nowotny Ask For Alternative to Financial Transaction Tax
The governor of the Austrian Central Bank (OeNB) sees a good sign in Austria´s low interest rate on sovereign bonds. The introduction of a European financial transaction tax is unrealistic, the governor says.
April 11, 2012
S&P: Austrian Banks Still Weakly Capitalized
The U.S. rating agency S&P regards Austrian banks to record high capital shortfalls.
April 11, 2012
Telecommunication Industry Faces Declining Revenues
Telekom Austria´s CEO Hannes Ametsreiter forecasts declining revenues and profits at the Austrian telecommunication industry. For his own company, Ametsreiter is slightly optimistic.
April 11, 2012
Ruttenstorfer Enters RHI
The former OMV executive becomes supervisory board member at the Austrian RHI.
April 11, 2012
Major Loan to Immofinanz by Russian Sberbank
The Austrian real estate company Immofinanz Group and the Russian Sberbank have concluded a long-term financing agreement with a volume of up to $ 715m.
April 11, 2012
AVE Needs Fresh Funds
The waste management company, which is held by the Upper Austrian energy company Energie AG, intends to pursue its growth strategy in CEE. New capital is needed therefore.
April 10, 2012
Where is Austria´s Gold?
The major part of Austria´s gold reserves should be located in the U.S. The Austrian Central Bank does not answer any questions.
April 10, 2012
Zielpunkt: „Not for Sale“
The new owner of the Austrian supermarket chain, Jan Satek, says that there are no plans to re-sell Zielpunkt.
April 10, 2012
„Bank Aids Are Lost“
The economist Franz Hahn (WIFO, Austrian Institute of Economic Research) argues that the nationalized banks are not interesting for potential buyers.
April 10, 2012
Romanian Government Considers Privatizations
The remaining publicly held stakes in Petrom, a subsidiary of Austrian OMV may be privatized. OMV does not participate in the transaction.
April 10, 2012
Austrian-Chinese Trade at All-Time High
Last year, bilateral trade volume rose by 13% in 2011 to over € 9bn. Austrian Exports rose by 11.7%.
April 10, 2012
Austria and CEE: Slight Upward Trend
Real GDP in CEE to grow by 2.6 per cent in 2012, while GDP in eurozone set to shrink by 0.5 per cent. Austrian GDP to expand by 0.3 per cent.
April 10, 2012
Failed Austerity Package: „Austrian Rating Not Affected“
Bernhard Felderer, director of IHS (Institute of Advanced Studies) thinks that the incomplete austerity package has no effect on Austria´s prospects to return to the Triple-A status.
April 7, 2012
„AUA Must Achieve Turnaround on its own“
Christoph Franz, CEO of Lufthansa explains that the Austrian subsidiary will act independently also in future. Also the restructuring must be completed without Lufthansa´s help.
April 7, 2012
„Natural Gas to Become Most Important Energy Source“
Gerhard Roiss, CEO of the Austrian oil and gas group OMV pushes the EU to recognize the importance of natural gas.
April 7, 2012
Foreign Trade: „We are on the Right Way“
Christoph Leitl, President of the Austrian Chamber of Commerce comments the export development: “The data of January show that we are on the right way.”
April 7, 2012
Oberbank Aims For „Organic Growth“
The Upper-Austrian regional bank continues its growth course and underlines its financial stability and independence.
April 6, 2012
Austrian Insurance Industry: Growth Opportunities in CESEE
Last year foreign business accounted for almost 40% overall. Austrian insurers believe there is further potential, above all in Eastern Europe.
April 6, 2012
Free Float at KTM Declines
The Austrian motor-cycle manufacturer has a free float of only 2.9%. The two main shareholders are CEO Stefan Pierer and the Indian Rajiv Bajaj.
April 6, 2012
Strabag Germany Cancels Profit Warning
In November, the German subsidiary of the Austrian construction company published a profit warning. Now, the initial expectations were recovered.
April 6, 2012
Tax Intake Higher Than Expected
In the first two months of 2012, the Austrian state received € 460m more tax proceeds than initially expected.
April 6, 2012
Meinl: Big Plans in Russia
The Austrian coffee roaster regards the CEE region as future market. Also China and Turkey are targeted. Last year, group revenues rose by 16% to € 125m.
April 5, 2012
EU: Austrian Labor Costs Rose Decently
Since 2000, Austrian labor costs rose by 40%. Among the 27 member states, Austria ranks 22th.
April 5, 2012
FACC Enhances Revenues Massively.
The Austrian plane component supplier FACC could raise revenues by 31%.
April 5, 2012
Austrian Trade Mission 2012: “A Big Success”
With their trip to the Kingdom of Saudi Arabia, Austrian companies are highly satisfied.
April 5, 2012
Moderate Increase in Foreign Trade
In January 2012, Austrian foreign trade grew slower than in 2011. Exports increased stronger than imports.
April 5, 2012
Raiffeisen: Downsizing in Hungary Completed
The Hungarian subsidiary of the Austrian lender Raiffeisen Bank International has no plans for further business downsizing.
April 5, 2012
VBAG Records Losses of € 1.35bn
Due to high write-offs in Hungary and Romania, the Austrian nationalized bank registered major losses in 2011. Thus, the capital injection covers these losses only partially.
April 5, 2012
