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CESEE
Nokia Moves from Vienna to Budapest
The Finnish cell-phone company regroups and shifts its sub-headquarters for the CEE region from Austria to Hungary.
August 20, 2012
Central and East Europe Summit in Vienna
Vienna Stock Exchange Group invites CEE companies and politicians in October 2012.
August 20, 2012
Telekom Austria Under Pressure
In Austria, the competitive pressure is growing. America Movil wants Telekom Austria to grow in the CESEE region.
August 17, 2012
Croatian Banks Record Lower Profits
In the first six months of 2012, the net income generated by Croatian banks was down by 19%. The Croatian economy is expected to shrink this year.
August 16, 2012
Non-Perfoming Loans on the Rise in Austria
In the last three years, the size of non-performing loans held by Austrian banks has doubled. At the end of 2011, the NPL volume stood at € 18bn.
August 16, 2012
Demerger at Hypo Group Resolved
In order to become re-sold, the Austrian subsidiary of Hypo Group shifts risky assets to the holding company.
August 14, 2012
Hypo Alpe-Adria-Bank in the Red Again
Today, the nationalized bank announced its half yearly result for 2012. Net Results reached € 10m.
August 13, 2012
East European Banking Industry Shows Ambiguity
For West European banks, their subsidiaries in Eastern Europe are either highly problematic or the cash cows.
August 8, 2012
Croatia: Crisis Sharpens
The Croatian recession seems to continue. Consumption falls further, unemployment continues to rise.
August 7, 2012
Again Downgrades in Slovenian Banking Sector
Last week, Moody´s downgraded big Slovenian banks. Now, S&P puts the domestic banking industry under even more pressure.
August 6, 2012
Serbia: Struggle for Central Bank Sharpens
After the resignation of governor Dejan Soskic, the EU warns Serbia of abolishing the independence of the Serbian Central Bank.
August 6, 2012
Slovakia: Rating Confirmed by S&P
The U.S. rating agency Standard & Poor´s reiterates Slovakia´s A/A-1 rating. The outlook is is still „stable“. Slovakia´s labor market data are less promising, however.
August 6, 2012
Polish Business Service Sector Booming
In 2011, 38 new business service centers were established in Poland. The number of employees doubled since 2009.
August 4, 2012
Bank Austria as UniCredit´s Cash Cow
Without Bank Austria, UniCredit would have been in the loss area. The CESEE region is still Bank Austria´s future market.
August 4, 2012
Polish Industrial Sector Shrinks
Last month, the Polish purchase manager index could recover. Nevertheless, there is no tendency of growth yet.
August 3, 2012
Moody´s Downgrades Slovenia
Today, the U.S. rating agency has downgraded the Western Balkan country by three notches to „Baa2“ from „A2“.
August 3, 2012
Budget Crisis: Serbia to Reduce Foreign Exchange Reserves
In order to mend Serbia´s budget hole, the government plans to amend the Central Bank law.
August 2, 2012
Czech Republic: Erste Group´s CEO Advises Against Introducing the Euro
According to Andreas Treichl, the Czech Republic should not enter the Eurozone now.
August 2, 2012
Alpine Cuts Losses Substantially
New ALPINE 2015 program for margin optimization is showing initial results. Increase in EBIT, EBT and revenue from construction services. The losses in Southeastern Europe should be compensated by the focus on Alpine´s core markets.
August 2, 2012
Erste Group: Concerns Despite Profits
Yesterday, the Austrian banking group published its results for the first half year. The business in Romania, Hungary and Ukraine causes worries.
August 1, 2012
CESEE: Still High Degree of Corruption
According to Transparency International, „political influence over independent institutions is a systemic corruption risk in the Czech Republic, Hungary, Poland and Slovakia“.
July 31, 2012
Erste Group Burdened by Losses in Eastern Europe
Despite losses in Romania, Hungary and Ukraine, Erste Group posts a net profit of € 453.6m in first half of 2012.
July 31, 2012
Banking Industry: Slower Growth Expected
Due to the weak results in Eastern Europe, the Austrian banking industry faces only decent net income figures in the second quarter of 2012.
July 30, 2012
Telekom Austria: Expansion Program to be Accelerated
After the entry of Carlos Slim, Telekom Austria hopes to get more funds for further expansion steps.
July 30, 2012
Austria is Liable for Hypo Group´s Major Loan
At the sale of Hypo Group by BayernLB in late 2009, BayernLB granted a loan of € 2.64bn. The Austrian state has issued a guarantee for this loan.
July 27, 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
Austrian Banking Industry Records Higher Profits
In the first quarter of 2012, Austria´s bank achieved a consolidated net income after taxes and minorities of € 2.12bn.
July 27, 2012
„AUA Must Be in the Black Numbers“
For Austrian Airline´s CEO Jaan Albrecht, the implementation of the austerity program and the transfer of undertaking is mandatory.
July 26, 2012
Vienna Stock Exchange: „Too Early for Investments“
VSE´s CEO Birgit Kuras explains why listings at Vienna Stock Exchange are declining. In the medium term, the conditions for the equity market would be favorable, however.
July 26, 2012
Poland as CESEE´s Locomotive
This year, the CESEE region should record a growth rate of 1.7%. However, the situation is highly different.
July 25, 2012
Insolvencies in CESEE on the Rise
In 2011, the number of business insolvencies rose by 25% in the CESEE region. Hungary ranks first.
July 25, 2012
Rising Serbian Budget Deficit Causes Worries
This year, Serbia has to borrow € 4.2bn. A budget deficit of € 300m is forecasted in 2012.
July 24, 2012
„Competitors are Still Far Away“
Vienna is under pressure. The Austrian capital has to compete with Warsaw, Budapest and Prague as headquarters location for the CESEE region.
July 23, 2012
Staff Efficiency: CESEE Catches Up
Regarding staff efficience, Eastern Europe has reached almost the West European level.
July 21, 2012
RBI: Bad Development in Hungary
Herbert Stepic, CEO of Raiffeisen Bank International expects that the development of non-performing loans is stable this year.
July 21, 2012
Outlook 2012: „ATX moderately positive in 2012“
Erste Group: „Environment to remain volatile; relatively low debt in Austria and CEE and yields on Austrian government bonds confirm save haven“.
July 21, 2012
Hypo Group: „As Little Bank Aids as Possible“
Hypo Group Alpe Adria´s CEO Gottwald is unhappy with reports that the state-owned bank may need further bank aids.
July 20, 2012
Vienna Insurance Group: Still Growth Potential in CESEE
VIG´s new CEO Peter Hagen aims to achieve external as well as internal growth. The process of catching up will go on.
July 20, 2012
Slovenian Banking Industry „One of the most Burdened in CEE Region“
About 11.5% of total loans are non-performing. Slovenia is one of the few countries suffering a crunch, RCB states.
July 18, 2012
Ukraine Shows Stable Economic Performance
After a major depression in 2009, the Ukrainian economy grows steadily. However, in June, industrial output fell slightly, Austrian RCB analyzes.
July 18, 2012
Bail-Outs: Is Slovenia Next?
The Slovenian banking industry becomes an increasing problem for Austria´s Southern neighbour. Non-performing loans may total up to € 6.0bn.
July 17, 2012
Bulgaria Aims to Join Eurozone
Bulgaria´s Finance Minister Simeon Djankov underlines the importance of the banking supervision and the Fiscal Pact, but wants to keep the fiscal competence.
July 16, 2012
Austrian Railways to Record Profits Already in 2012
Christian Kern, CEO of Austrian Railways, explains that the company´s restructuring is going on. The results would be better than the expectations.
July 16, 2012
Poland Not to Enter the Eurozone Soon
For the time being, Poland will keep the Zloty. After the Eurozone has managed the current crisis, an accession is conceivable, Foreign Minister Radoslaw Sikorski says.
July 14, 2012
Bank Austria: Major Investment at Russian Subsidiary
UniCredit Group increases the equity base of the Russian subsidiary.
July 14, 2012
Consolidation in CESEE Banking Industry Ahead
The Austrian Central Bank (OeNB) expects a wave of takeovers in the banking industry in Central, Eastern and Southeastern Europe. Many banking groups will withdraw from there, OeNB says.
July 13, 2012
Sberbank to Provide € 300m for VBI
The Russian Sberbank intends to inject € 300m into the Austrian VBI (Volksbank International). Growth into the CEE region should be promoted.
July 13, 2012
Kapsch: Poland Showing Excellent results
Revenue for Poland of over € 178m, investments amortized after only 18 months
July 13, 2012
Changes in Petrom’s Executive Board
Petrom, the largest oil and gas producer in Southeastern Europe, announces a change in its Executive Board. Starting September 1, 2012.
July 13, 2012
€ 500m Cash Capital Increase by Uniqa Completed
Upon termination of the subscription offer, Austrian UNIQA Versicherungen AG has placed all 47,619,048 new shares offered in the cash capital increase.
July 13, 2012
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