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Austrian Railways: Hope for RCA
Rail Cargo Austria, the freight division of Austrian Railways (ÖBB) seems to have achieved the turnaround. In 2010, RCA caused losses of € 67m.
March 10, 2012
Nowotny: Capital Shortfall at Hypo Group „Substantially Less Than € 10bn”
The governor of the Austrian Central Bank (OeNB) repulses reports stating that the nationalized bank Hypo Group needs capital injections of € 10bn.
March 10, 2012
Hypo Group: Costs Could Increase up to € 10bn
The nationalized Hypo Group Alpe Adria may need massive capital injections by the Austrian state. The bank must downsize radically.
March 10, 2012
Wirtschaftsbund: Leitl Re-Elected
Christoph Leitl, President of the Austrian Chamber of Commerce, has been re-elected as chairman of Wirtschaftsbund. 92.7% of the delegates voted for Leitl.
March 10, 2012
Ghizzoni: „Austrian Bank Tax Is Painful“
The Chief Executive Officer of UniCredit, the holding company of Bank Austria emphasizes not to sell the Austrian subsidiary. The bank tax is “unfair”.
March 10, 2012
AUA Posts Rise in Passengers
Austrian Airlines Traffic Result February: Passenger growth by 10.5 percent to 715,300 passengers. In January to February, a slight decrease was recorded.
March 10, 2012
Emirates Tries to Lure AUA´s Pilots Away
As uncertainty among Austrian Airline´s workforce is rising, the marketing officer at Emirates, Thierry Antinory, wants to attract AUA´s aircrew.
March 9, 2012
Leitl: „Austerity Package Is Not Enough“
For Christoph Leitl, the President of the Austrian Chamber of Commerce (WKÖ), the recently resolved austerity package does not contain the essential reforms.
March 9, 2012
BWB Finishes Razzia at Rewe Austria
Due to suspicions of price arrangements, the Austrian Federal Competition Authority (BWB) secured comprehensive documents of Rewe Austria. The longest razzia in BWB´s history is finished.
March 9, 2012
Bawag Buys Back Hybrid Capital
The U.S. owned Austrian bank purchases € 300m in hybrid capital back in order to strengthen the equity base.
March 9, 2012
Cernko Criticizes VBAG Bail-Out
Willibald Cernko, CEO of Bank Austria considers that the Austrian state reacted too late. A partly nationalization could have taken place already one year before.
March 9, 2012
WIFO Forecasts Economic Stabilization
The Austrian Institute of Economic Research (WIFO) expects a slight improvement in the Austrian economic development. Upward indicators become more significant.
March 9, 2012
Imports Grow Stronger than Exports
January to December 2011: Austrian imports rose by 15%, exports increased by 12%.
March 9, 2012
AUA: Confrontation of Management and Workforce Sharpens
The management of Austrian airlines must find an agreement with its pilots until March 13. A solution is not in sight.
March 8, 2012
EBA Does Not Accept Participation Capital as Equity
Austrian banks face new difficulties. The European Banking Authorities does not approve participation capital by the Austrian state as Tier-1 Equity Capital.
March 8, 2012
„Going to America 2012“: AWO Supports Austrian Business in USA
Foreign Trade Austria (AWO) shows business opportunities in the U.S. to domestic companies.
March 8, 2012
Kommunalkredit Bring € 455m to Greek Swap
Kommunalkredit AG and KA Finanz AG, two nationalized Austrian banks, said they will join Greece’s debt swap with a total of € 455m ($600 million) to avoid triggering default swaps.
March 8, 2012
Binder + Co Shows Strong Growth
The Austrian environmental technology company Binder+Co grows further in 2011: Sales revenues up by 29%, EBIT by 18%, order intake increased by 25%.
March 8, 2012
SBO: Massive Rise in Profits
The Austrian Schoeller-Bleckmann Oilfield Equipment notes a substantial improvement in results of 2011. Profits increased by 95%.
March 8, 2012
Pecik Unwanted at AMAG
A major shareholding in Austrian AMAG will be sold. Ronny Pecik, who is said to be interested, is not welcome.
March 7, 2012
Bank Insolvency Act to be Finished by Summer 2012
According to the government´s plans, the Austrian financial market authority (FMA) should obtain more competences.
March 7, 2012
RHI Has Growth Plans
The Austrian producer of fireproof ceramics puts effort into growth. Major investments and acquisitions are planned.
March 7, 2012
Hammerer Aims For Growth in Italy
The Austrian aluminum company wants to acquire a site of the U.S. Alcoa in Italy.
March 7, 2012
Tax Treaty: Conflict with EU
The EU rejects Austrian tax treaty plans with Switzerland. Austria insists on the bilateral agreement.
March 7, 2012
Fitch Confirms Rating for VBAG
The U.S. rating agency retains the A rating for the fourth largest Austrian bank.
March 7, 2012
ATX: Upgrade of Immofinanz
The Austrian real estate company was included into the ATX top five. CEO Eduard Zehetner: 'This should have a positive effect on the share development'.
March 7, 2012
Wholesale Prices Slightly Up
Wholesale price index in February 2012: +1.5% against February 2011. Austrian service enterprises achieved an increase of turnover by 3.5% for 2011.
March 7, 2012
Getzner Werkstoffe: on to South America Following Success in Asia
The Austrian company produces materials for vibration isolation and plans to expand into South America.
March 7, 2012
Sanochemia Announced Scanlux Market Entry in Columbia
The Austrian pharmaceutical company announced the market entry of Scanlux in Columbia. Further approvals are targeted in Costa Rica, El Salvador, Venezuela and Paraguay.
March 7, 2012
Rewe is Said to Constrain Investigations
The Austrian Federal Competition Authority (BWB) suspects Rewe Austria to have made price arrangements. Rewe should have constrained BWB´s investigations.
March 6, 2012
Taxation of Pension Funds: One-Time Effect of € 900m
In order to restructure the financially stricken VBAG, the Austrian government anticipates taxes on pension funds. As a result, € 75m will lack in future.
March 6, 2012
Doppelmayr Hopes for China
The Austrian cable railway producer faces a small and stagnating market in the U.S. South America and China are seen as growth markets.
March 6, 2012
Intercell Does Not Leave the Loss zone
The Austrian pharmaceutical company announces preliminary full year 2011 financial results. Losses totaled € 29m.
March 6, 2012
Moody's Changes Outlook on Verbund's Rating to Negative
The U.S. rating agency Moody's Investors Service has today changed to negative from stable the outlook on the A2 senior unsecured rating of the Austrian energy company Verbund .
March 6, 2012
Zumtobel Recorded Losses in Third Quarter
Austrian Zumtobel Group recorded a 6.1% increase in revenues to € 964.2m in the first nine months of 2011/12. EBIT decreased substantially.
March 6, 2012
Kapsch TrafficCom IVHS to Open New North American Head Office
Kapsch TrafficCom IVHS Inc., a subsidiary of Austrian Kapsch TrafficCom AG, announced the opening of the new corporate head office in Tysons Corner, Virginia.
March 6, 2012
RHI Exceeds Expectations
The Austrian producer of fire-proof ceramics could raise revenues by 15.5%. EBIT was up by 19.8%.
March 6, 2012
Isovoltaic Said to Start Stake Sale After Failed IPO
Isovoltaic AG, an Austrian solar developer, started the sale of a 45 percent stake as it seeks an alternative to last year’s failed initial public offering, according to a person with knowledge of the process.
March 5, 2012
Uniqa Aims for Growth in CESEE Region
The Austrian insurance group wants to sell stakes by the minority shareholders of subsidiaries in Eastern Europe. The capital increase is scheduled for 2013.
March 5, 2012
OMV Gives In: No Fracking in Austria
The Austrian oil and gas company OMV reacts to the citizen´s protests and gives up its natural gas exploration plans in Northern Austria.
March 5, 2012
Again Criticism on Austerity Package: „Lack in Sustainability“
The President of the Viennese Federation of Austrian Industries (IV), Georg Kapsch, misses details of the austerity package. The package is not ambitious enough, Kapsch considers.
March 5, 2012
AUA: Negotiations Go On
Austrian Airlines does not face strikes. Not only AUA´s management is under pressure. Workers fear a new foundation of AUA or a re-sale.
March 5, 2012
New Riyadh Sewage Plant With Austrian Technology
Saudi Arabia's Minister signs contract over 80 Mio $ sewage purification plant. ILF participates in the awarded consortium.
March 5, 2012
Voestalpine Awarded Major Contract in the UK
Austrian voestalpine Group has been awarded a major contract for the supply of roughly 20,000 tons of pre-cut heavy-plate shapes for Siemens Wind Power for the London Array offshore wind tower project in the United Kingdom.
March 5, 2012
Austerity Package: Sorger Misses Reforms
The President of the Federation of Austrian Industries (IV), Veit Sorger, sees a massive lack in structural reforms. The austerity package is a “missed opportunity”.
March 3, 2012
Fekter: Up to € 1.0bn for Kommunalkredit
In case of a default of Greek sovereign bonds, the Austrian state would have to grant € 1.0bn to the nationalized bank Kommunalkredit.
March 3, 2012
Car Deal Pappas Achieves Growth in Hungary
The Austrian car dealer group could achieve sales of € 129.1m in Hungary. In spite of the economic crisis, sales climbed up by 12%.
March 3, 2012
Komptech Increases Turnover to € 111m
The Austrian environmental specialist enjoys the best year in its company history. Infrastructure projects enable continued growth.
March 3, 2012
RHI Eyes Serbia’s Magnohrom
RHI, the Austrian maker of fire- proofing ceramics, is interested in Magnohrom, Serbia’s sole basic refractory product manufacturer, Privatization Agency chief Vladislav Cvetkovic said.
March 3, 2012
Change on Executive Board at Austrian Airlines
Karsten Benz to become new Chief Commercial Officer and succeeds Andreas Bierwirth. The supervisory board will decide on the change of management on 13 March.
March 3, 2012
