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Azerbaijan

State Visits from Azerbaijan and Turkmenistan in Context of Austria's OSCE Chairmanship in 2017

Michael Linhart met Deputy Prime Minister and Foreign Minister of Turkmenistan Rashid Meredov and Deputy Foreign Minister of Azerbaijan Araz Azimov in Vienna. “Azerbaijan and Turkmenistan are important partners for Austria in the context of its OSCE Chairmanship in 2017”

February 12, 2016

Euromoney Names UniCredit-Bank Best Bank in CEE

Euromoney has presented UniCredit with nine awards for excellence, including Best Bank in Central Eastern Europe, Best Debt House in Central Eastern Europe and Best Transaction Services House in Central Eastern Europe.

July 14, 2015

Cost of Living Rankings: CEE Capitals Cheaper, Vienna is 32nd Most Expensive City

The Mercer's 2014 Cost of Living Rankings have been published and cover 211 cities across five continents. While Western European cities have all risen in the rankings mainly due to the strengthening of the Euro against the US dollar, most cities in Central and Eastern Europe (CEE), however have fallen in the ranking as a result of local currencies depreciating against the US dollar. Bratislava (#84), Prague (#92), Kiev (#98), Ljubljana (#116), Zagreb (#120), Budapest (#135), Warsaw (#142), Belgrade (#184).

July 25, 2014

BSH Vienna is Partially Taken Over by German BSH Group

With the goal of strengthening its international market presence, the TROX Group acquired parts of BSH Group.

May 31, 2014

World Bank Supports Financial Reporting in CESEE

The World Bank launched a new program to strengthen corporate financial reporting in the countries of the EU’s Eastern Partnership.

October 3, 2013

Austria: Harsh Blow for OMV

The pipeline “Nabucco”, a project with Austrian energy enterprise OMV taking the lead, will not receive gas from the gas field Sha Deniz II. This was announced by the mineral oil company on Wednesday.

June 26, 2013

Nabucco: Decision Will Be Announced by Mid-2013

The Shah Deniz II consortium will announce its decision on the pipeline project in June, Nabucco´s CEO Reinhard Mitschek says.

January 21, 2013

Shah Deniz Consortium to Enter Nabucco Project

Today, the Nabucco´s shareholders and the Shah Deniz Consortium agreed on a joint declaration.

January 10, 2013

New Hope for Nabucco

The gas pipeline project is said to get a new major shareholder. In case of the entry of the Shah Deniz II consortium, Nabucco´s utilization would be secured.

December 22, 2012

OMV Considers Joining Tanap

The Austrian oil and gas company intends to invest up to $ 7.0bn in the Turkish-Azeri project.

September 25, 2012

New Hope for Nabucco West

The Aseri Minister of Energy Natik Aliyev thinks that Nabucco West would be better than the rival project TAP.

July 27, 2012

Austria´s Fischer Absolved State Visit in Armenia

The Austrian President Heinz Fischer met his Armenian counterpart Serzh Sargsyan. Both heads of states agreen on deepening economic and cultural relations.

June 28, 2012

„Nabucco Will Die A Hundred Times“

OMV´s CEO Gerhard Roiss promotes the new „Nabucco West“ project and underlines the high probability of success.

June 14, 2012

„Nabucco Is Still an Option“

Elshad Nassirov, Vice-Chairman oft he Azerbaijani gas company Socar, argues that BP´s statement about Nabucco was premature.

May 29, 2012

BP: „Nabucco is Dead“

British Petroleum pronounces the initial Nabucco project dead. RWE supports the new version “Nabucco West”.

May 25, 2012

“Nabucco West” Submits Proposal

The proposal for the downsized “Nabucco West” Scenario was submitted to Shah Deniz II Consortium.

May 18, 2012

Another Setback for Nabucco

The German RWE considers leaving the natural gas pipeline consortium. Also the Hungarian MOL will exit.

May 16, 2012

Nabucco: Azerbaijan´s Nassirov Optimistic

Elshad Nassivor, Vice CEO of the Azerbaijani oil and gas group Socar is optimistic to create a connection with Austria´s gas hub in Baumgarten.

May 5, 2012

Downsizing of Nabucco Plans

The companies behind the proposed 3,900km Nabucco pipeline that would carry natural gas from the Caspian region to Europe have pitched a slimmed-down version of the project.

March 16, 2012

Nabucco: Costs Could Grow Further

The pipeline consortium Nabucco checks whether the project becomes more expensive than expected. Costs of € 15bn are forecasted.

March 3, 2012

Merger of Nabucco-TANAP Discussed

Members of the gas pipeline projects Nabucco and TANAP talk about a merger in Vienna. The Turkish Minister of Energy participates therein.

February 28, 2012

Decision on Nabucco Again Postponed

The natural gas consortium „Shah Deniz II“ postpones its decision by one year. OMV´s CEO Gerhard Roiss underlines the importance of a pipeline to the Austrian hub Baumgarten.

February 24, 2012

Nabucco Still Competes For Gas in Azerbaijan

The gas pipeline project, in which the Austrian oil company OMV is engaged, now enters the critical phase.

February 21, 2012

Oettinger Expects Succesful Contracts Over Gas Deliveries

The EU-Commissioner for Energy, Günther Oettinger, anticipates that Azerbaijan will close contracts over natural gas deliveries within the coming months.

February 8, 2012

Turkey Emphasizes Support for Nabucco

Besides the Russian South-Stream project, Turkey also shows support for Nabucco, where Austrian OMV is strongly engaged in.

January 21, 2012

RWE Considers Alternative to Nabucco

German RWE shows interest in rival project TANAP and considers getting out of Nabucco.

January 20, 2012

VIG Has „No Problems in Hungary“

“We are an insurance group and not a bank.”, said the management of Vienna Insurance Group. Nevertheless, the developments are observed thoroughly.

January 11, 2012

OeEB Grants Credit to Azerbaijani Bank

DemirBank receives $ 25m from the Austrian Development Bank, RBI and other lenders to support entrepreneurs in Azerbaijan.

October 12, 2011

OMV Promotes Nabucco Project Abroad

The Austrian oil corporation OMV pushes the gas pipeline project Nabucco in Turkey, Azerbaijan and Turkmenistan.

October 11, 2011

Nabucco Bids for Gas Field in Azerbaijan

The Asiatic country will publish its decision by the end of 2011. Three candidates submitted their offers.

October 1, 2011

Spindelegger Wants New Impetus for Nabucco

The Austrian Vice-Chancellor calls for a quick realization of the pipeline project which is stalling at the moment.

September 28, 2011

BP Plans Rival Project to OMV´s Nabucco

The British Petrol Corporation intends to open up new gas fields in the Caspian region. BP is thus a new competitor for the Austrian OMV.

September 27, 2011

Austria and Azerbaijan Expand Cooperation

An Austrian delegation will hold several meetings with Azerbaijani ministries and private companies.

September 20, 2011

Palmers on the Way Back to Black Figures

The Austrian lingerie group’s results are still negative due to the acquisition of Lejaby. An expansion of the Palmers brand is planned in Germany and CEE.

June 15, 2011

OMV Considering Closer Cooperation with Azerbaijan

The Austrian oil and gas group is in talks about investments in the oil-rich country which is an important supplier for Nabucco.

May 20, 2011

The Black Sea Region is Gaining in Significance for the Austrian Economy

Austria's sound foreign economic relations with the Black Sea region could be strengthened still further. The export structure of Austria is consistent to a large extent with the import demand of Ukraine and Turkey.

March 25, 2011 · Updated: March 25, 2011; 03:52

Oettinger Increases Pressure on OMV

In an interview with the daily newspaper "Presse", the European Commissioner for Energy considers that OMV must move now regarding Nabucco.

February 4, 2011

Austria: The Gateway to Central Asia?

Leading Austrian politicians intend to attract attention at the World Economic Forum to what promises to be a new target region.

January 26, 2011

Slow Progress for Nabucco

The negotiations in the Caspian region are "tough", but the political will exists, say sources from the Austrian oil and gas group OMV.

January 26, 2011

New Perspectives for Nabucco

The European Commission wants to commit Azerbaijan to supply gas to Europe. This is expected to be done via the Nabucco pipeline.

January 14, 2011