Page 6/15

CESEE

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

Hypo Group: CESEE Units to be Sold Until Mid-2015

The threatened compulsory sale of nationalized Hypo Alpe Adria Group by the EU Commission until the end of this year, was, according to information by the Finance Ministry, fended off. An additional burden of € 2bn might await the Austrian taxpayers.

July 1, 2013

TAP to Deliver Greece, Italy and CESEE

Shah Deniz targets Italian and Southeastern European gas markets through Trans Adriatic Pipeline.

July 1, 2013

Hypo Group: Government Hopes For Expansion of Deadline

The restructuring plan for Hypo Group has been handed in to Brussels. It is still unclear whether the deadline will be expanded.

July 1, 2013

Positive Start for Uniqa Serbia

Uniqa Serbia starts 2013 with strong growth.

June 27, 2013

RBI Will Take Its Time With the Repayment of Participation Capital

It is not yet clear when RBI will pay back state participation capital in the amount of € 1.75bn.

June 27, 2013

Austrians to Invest Strongly in FDIs

Austrian investors have increased their direct investments in foreign countries by eleven percent to a total of € 145.5bn while FDIs in Austria remain unchanged at € 118.3bn.

June 26, 2013

Magna Not to Leave Austria for Eastern Europe

“There will be no impacts on Austria or Styria“, a spokeswoman announced. Instead, a plant in Belgium will “probably” be closed.

June 26, 2013