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OMV: Discovery of Gas in Pakistan
OMV: Discovery of gas and condensate in the Mehar block, Pakistan.
August 29, 2013
Massive Losses for Alpine: € 5bn in Debts
According to the reports of the insolvency administrators, reasons like a chaotic management and low-price offers that did not prove cost-covering led to massive losses in projects abroad.
August 29, 2013
Hypo: Half-Year Results Expected August 28
In order to be able and balance, nationalized Hypo Group required € 700m in capital by the Austrian state.
August 27, 2013
Austria: Bawag to Pay Back Further State Aid
Due to lower costs and provision profits of the Austrian bank Bawag increased. From the coming year on the bank intends to pay back further state aids and plans on further withdrawing from CESEE.
August 27, 2013
Adria Airways to be Acquired by China Southern Airlines
Chinese Southern Airlines wants to gain a foothold in the Slovenian air traffic sector. Besides Adria Airways, Ljubljana Airport will be privatized.
August 25, 2013
Austria: Fekter Does Not Publish Controversial Industrial Location Study
According to a recent study on the quality of Austria´s industrial location, the number of leaving multinational companies is growing.
August 25, 2013
CESEE Faces Economic Recovery
According to Moody´s, the economic outlook for Central, Eastern and Southeastern Europe is positive. Nevertheless, the recovery is still fragile.
August 24, 2013
Schwarzenberg Criticizes Spindelegger
The former Czech Minister of Foreign Affairs Karel Schwarzenberg thinks that Austria´s Foreign Minister Michael Spindelegger mainly focuses on domestic politics. The CEE region should co-operate closer in future, he claims.
August 24, 2013
Austria: “Painful Cuts“ at RBI
According to the most recent results, the bank has losses in profits of more then 60 percent. A strict cost reduction program
August 22, 2013
RBI: Analysts Expect Drastic Losses of 60 Percent
The Hungarian market in particulary is giving Raiffeisen Bank International (RBI) a hard fight. Business has been on an all time low for years.
August 21, 2013
Austrian Division of Hypo Alpe Adria Managed to Turn A Profit
In the past half year the Austrian division of nationalized bank Hypo Group made small profits.
August 20, 2013
Austria: Kranebitter to Leave Hypo Group
After three and a half years, Gottwald Kranebitter steps back as CEO of nationalized Hypo Alpe Adria. Tax payers are left with a burden running in the billions in the years to come.
August 19, 2013
Telekom Austria Has Still Growth Plans in Serbia
According to market rumors, the Vienna-listed telecommunication group is interested in taking over Serbia Broadband.
August 17, 2013
RBI´s CEO Sevelda: Drastic Losses in Hungary
Next week, Vienna-listed RBI (Raiffeisen Bank International) will present the results for the first half year of 2013. RBI will put effort into selective growth strategies.
August 17, 2013
Bulgaria: Raiffeisenbank Downgraded by Moody’s
Bulgaria: Moody's downgrades Raiffeisenbank (Bulgaria)'s deposit ratings to Ba2
August 15, 2013
New Erste Group Loan Contributes to La Fantana Recapitalization
La Fantana, the leading bottler and distributor of water in Romania, announced it has successfully raised EUR 34mn in debt financing. La Fantana is controlled by private equity funds managed by Innova Capital.
August 13, 2013
Romania: Significant Drop in Purchase Power
General consumption climate is unfavorable in Europe at the moment.
August 12, 2013
20,000 Bank Shops Have Closed Since Beginning of Crisis
60 percent of the costs in the business with private clients are caused by bank shops. Still, banks are hesitant to close them as they fear the loss of long-term clients.
August 12, 2013
Austria: Banks Indignant At Chancellor Faymann
Chancellor Werner Faymann has started the election campaign with an attack against the banks. However, CEO of Bank Austria Willibald Cernko points out that the banking industry secures 70,000 jobs in Austria.
August 9, 2013
UniCredit: No Withdrawal from Hungary
CEO of UniCredit Federico Ghizzoni has rejected rumors about disengagement plans from Hungary.
August 7, 2013
Loan Loss Provisions Impede Higher Profits for Bank Austria
Results for the first half of 2013: Bank Austria posts net profit of EUR 566 million for the first half of 2013.
August 7, 2013
Credit Crunch in CESEE?
The capital outflow in the CESEE region accelerates. The European Bank for Reconstruction and Development (EBRD) fears negative consequences for the real economy.
August 7, 2013
Uniqa: Ambitious Growth Targets
The Austrian insurance group wants to put effort into selective growth. The CESEE region still has a remarkable substantial, CEO Brandstetter explains.
August 7, 2013
„CESEE Will Come Back“
Andreas Brandstetter, CEO of the Austrian insurance group Uniqa, thinks that Central and Eastern Europe will recover.
August 6, 2013
RBI Considers Withdrawing from Hungary
The Austrian banking group Raiffeisen Bank International wants to focus on other markets. Hungary and Slovenia are shrinking markets, CEO Karl Sevelda says.
August 6, 2013
Arab Partner for RBI?
Karl Sevelda, CEO of Raiffeisen Bank International, indicated that an Arab investor may become a shareholder.
August 5, 2013
CESEE: „Growth Story Did Not End“
In an interview with the Austrian newspaper “Presse”, chairman of the CEESEG supervisory board Willibald Cernko explains that Central and Eastern Europe needs a new growth model.
August 3, 2013
CESEE Remains Attractive for Austrian Investors
According to a survey, the region of CESEE is still attractive to Austrian investors. Particulary the bigger countries – Poland, Turkey and Russia – are becoming even more popular.
August 1, 2013
Trend: Service Industry Drifts to CESEE
Lower costs in the service sector in CESEE countries, particularly Romania, are compensated by higher expenditures in securing quality standards.
July 30, 2013
Meager Profits for Erste Group in First Half 2013
Erste Group posts net profit of EUR 301.2 million for first half of 2013; risk costs decline
July 30, 2013
RBI Trying to Avoid Becoming “Cash Cow“ in Hungary
In an interview with “Wirtschaftsblatt“, CEO of RBI Karl Sevelda talks about further burdens in Hungary and the bank’s reaction to them, capital increase and how participation capital can be replaced.
July 29, 2013
China: Big Plans for Ljubljana Airport
China Southern, Asia’s biggest airline company, plans to establish a hub in Ljubljana for SEE.
July 24, 2013
Hypo Group: Current Capital Injection Not Enough
Klaus Liebscher, head of the supervisory board of the nationalized Austrian problem bank, thinks that the Ministry of Finance will have to inject further money.
July 23, 2013
Profitability: Austrian Banks Perform Worst
According to a current report published by A.T. Kearney, the Austrian banking industry suffers from a low profitability.
July 23, 2013
Hypo Group Needs Even More Money
The nationalized Austrian bank needs fresh funds of more than € 700m. For the Austrian taxpayers, the banking package becomes more and more costly.
July 21, 2013
Federation of Austrian Industry Defends Group Taxation
The Federation of Austrian Industry (IV) argues that the Austrian business location would be endangered without the group taxation.
July 20, 2013
Moody´s Lowers Outlook of RBI
The outlook for Austrian Raiffeisen Bank International, the second-biggest lender in the CESEE region, was downgraded to “negative”.
July 20, 2013
Austrian Banking Package: Major Burden for Taxpayers
In total, the banking package has caused costs of more than € 6.4bn. Austrian taxpayers must expect further costs.
July 19, 2013
Does RBI Need a Partner?
The Austrian “Wiener Zeitung” reports that RBI (Raiffeisenbank International), the second-biggest lender in the CESEE region, has a capital requirement of more than € 5.0bn.
July 17, 2013
„Austrian Banking Sector Still Weakly Capitalized“
Austrian National Bank (OeNB) criticizes that the domestic banking sector did not improve the equity base sufficiently.
July 16, 2013
Moody´s Cuts Bank Austria´s Rating
According to the U.S. rating agency, the creditworthiness of the biggest Austrian bank has worsened. The expansion program in Russia and Turkey is seen as significant risk factor.
July 16, 2013
Fekter: Horror Figures with Hypo’s Restructuring Plan.
The restructuring plan for Hypo Alpe Adria involves several scenarios, which Finance Minister Fekter does not want to mention. The “horror figures” tax payers are burded with are set up “in an apocalyptical way”, according to her.
July 15, 2013
OeNB Favors Examination of Bad Bank for Hypo
The Austrian National Bank (OeNB) has, according to Govenor Ewald Nowotny, requested to examine models for the establishing of a bad bank for Hypo Group. This was announced by Nowotny on Monday
July 8, 2013
OMV Petrom Set World Record in Casing Drilling.
OMV Petrom, the largest oil and gas producer in Southeastern Europe, set a world record in the field of casing drilling in terms of diameter of drilling column and depth.
July 5, 2013
Hypo: Greens vs. Fekter
The debate about a Hypo Group has turned out a genuine match between deputy chief of the Austrian Green Party Werner Kogler and Finance Minister Fekter.
July 4, 2013
CEE Slowly Escapes Economic Crisis
Slovenia, Croatia and the Czech Republic have slipped into recession. Experts are particularly worried about the newest EU member.
July 4, 2013
CESEE: GDP Growth in 2013 Weakest Since 2009
CESEE financial markets influenced by global liquidity debate.
July 4, 2013
EU Commissioner Open for Extension of Deadline for Hypo Group
EU Competition Commissioner Joaquin Almunia presented himself open to the extension of the winding-down of Hypo Group.
July 3, 2013
Fekter: Kranebitter „Weary of Office“
Hypo CEO Kranebitter resigns and settles a score with the Finance Ministry in an open letter. He decided to step back after three and a half years because “major parts of the work were damaged”.
July 3, 2013
Hypo Group: CEO Kranebitter Steps Back
Kranebitter announced to stay until the half-year accounts are published. On Monday it became known that the ailing bank will in all likelihood require more state aid than planned.
July 2, 2013
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