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Carinthia

British-Indian-Austrian Anadi Bank Remains on Growth Course

The former Austrian branches of Hypo Alpe-Adria-Bank International were bought by Indian Investor Sanjeev Kanoria and transferred to British-Indian-Austrian Anadi Bank in 2013. The bank continues its successful growth course in the first half of 2018, although the result from ordinary business activities declined by 37% and profit after tax by 42% compared to the same period of the previous year. The bank describes itself as a bank with the strengths of a tiger. The Anadi Tiger establishes, on the one hand, a symbolic connection to India, on the other hand, he embodies strength, speed, security and flexibility - qualities that the bank expects from itself. Also, Anadi means “eternal” in Hindi and stands for tradition, reliability, and sustainability.

September 7, 2018

Tax Payers to Finance AvW Bankruptcy after all?

Tax payers may have to finance the bankruptcy of Carinthian financial company AvW after all, Presse daily reports in its online issue. The damage is estimated at EUR 148 million (USD 168.2 million).

June 8, 2016

German Creditor Pool Brings EUR 1 Bln Action Against Heta Before Frankfurt Regional Court

The lawsuit demands almost EUR 1 billion and is brought in Frankfurt/Main against asset resolution company Heta. The creditor pool consists largely of German creditors which demand immediate repayment of bonds and promissory note loans.

July 16, 2015

S&P Downgrades Erste, RZB, UniCredit, Affirms HYPO NOE, KA Finanz, Upgrades HYPO OO

S&P is downgrading three banks, affirming the ratings on two banks, upgrading one bank, and lowering various issue ratings on the banks' hybrid capital and guaranteed grandfathered debt.

August 13, 2014

Lam Research Expands in Austria

The U.S. company opens a new research laboratory in Villach (Carinthia) and thus makes a clear commitment to its Austrian operations.

May 18, 2012

Austrian Industry Underlines Importance of „South Axis“

According to a recent study, the Southern Railway (Südbahn) creates 15,000 new jobs. The value creation totals € 15.5bn.

April 12, 2012

Gigasport Withdraws from Czech Republic and Slovakia

The Austrian sports brand closes twelve branches in the Czech Republic and Slovakia. 280 workers are affected.

March 1, 2012

RHI Invests in Carinthia

The manufacturer of refractory products upgrades its factory in Radenthein, Carinthia for € 2.3m. The capacity at the local subsidiary grows to 80,000 tons per year.

February 18, 2012

Scepticism in Carinthian Industry

The current situation is satisfying in the Carinthian industry. However, for the future, many industrialists are less optimistic.

November 5, 2011

Kärntner Sparkasse Finalized Withdrawal from Italy

The Carinthian bank will close its operating business in Italy. The branches have been overtaken by the South Tyrolean “Südtiroler Sparkasse”.

October 8, 2011

Kresta Takes Over Swiss Buss ChemTech

The newly acquired company will become the technology center of the Austrian plant building company.

September 30, 2011

Kelag to Invest € 70m in Bosnia-Herzegovina

The Carinthian energy provider signed a contract on the expansion of the hydro power infrastructure in Republika Srpska.

September 29, 2011

East Coast Minerals Reaches Milestone in Lithium Project

Exploration and mining licenses for the lithium deposit in Carinthia have been transferred to the Australian company.

September 14, 2011

AMSC Cuts Jobs in Austria

The Amercian Superconductor Corporation (AMSC) decided to cut 150 jobs at its subsidiary Windtec. In Austria, 40 positions are concerned.

September 13, 2011

CEE Economic Forum: Green Trends for Eastern Europe

In 2011, Forum Velden in Carinthia celebrates its 5th anniversary. Since its foundation in 2006, over 1.500 experts, top-managers and politicians from over 25 countries have participated in the Forum.

September 7, 2011

Noricum Announces Significant Gold Mineralization at Austrian Projects

The London-based gold exploration and development company gives a positive update regarding the exploration program at its projects in south-central Austria.

September 5, 2011

BKS Bank Continues Expansion Course

The Carinthian/Styrian regional bank recorded an increase in profit of 11.7%. Step-by-step expansion in international markets will be continued.

August 19, 2011

Hypo: New Charges against Former CEO Kulterer

The Carinthian bank’s former CEO and three other persons are accused of having caused a damage of € 5.5m.

August 12, 2011

BayernLB Demands Rescission of Hypo-Deal

The German bank has taken action against the employee fund which is accused of having misled the management about Hypo’s equity base.

August 10, 2011

Hypo Alpe Adria Sells Schlosshotel Velden

The Austrian bank signed a purchase agreement with Amisola Immobilien AG. Falkensteiner Michaeler Tourism Group will take over management of the hotel.

July 29, 2011

Kärntner Sparkasse Starts Withdrawal from Italy

The Carinthian regional bank is closing down two branches as a consequence of the economic crisis and new capital requirements.

July 26, 2011

Hypo Alpe Adria Opens New Branches in Italy

The Carinthian bank is expanding its business in the neighboring country although the subsidiary will soon be in the hands of a new owner.

July 19, 2011

Moody’s Gives Negative Outlook for Carinthia

Austria’s southernmost province received a negative outlook due to an increasing budget deficit, high debt and credit guarantees for Hypo Alpe Adria.

July 1, 2011

Hypo Alpe Adria to Sell its Italian Subsidiary

The Carinthian bank intends to divest its operations in the neighboring country. The subsidiary achieved a profit of € 10.82m in 2010.

June 1, 2011

Renaissance for Carinthian Lithium

A currently closed lithium mine in Carinthia will be reopened by an Australian company after its acquisition for a price of € 9.25m. It is the largest deposit in Europe.

May 30, 2011

Kärntner Sparkasse Planning Partial Pull-Out of Italy

The Austrian regional bank intends to close a part of its Italian branches. The credit business has suffered from the crisis; the future focus will be on deposits and private banking.

May 18, 2011

Infineon Makes an Investment for € 200m in Austria

The German technology group has announced that it intends to create 400 new jobs in Austria. The semiconductor production is to be expanded.

May 7, 2011

Austria's Solar Industry Strives For Technological Leadership

The domestic solar energy industry calls for more research funding to ensure the continuation of success achieved also into the future.

May 4, 2011

Carinthia: Further Development of Lakeside Park Secured

The course for further expansion of the flagship project has been set; an area of 4.5 hectares has been secured.

April 30, 2011

Official start of construction of Austria's largest building project

The start of construction of the controversial Koralm tunnel, a railway connection between Carinthia and Styria, has occurred. The 20km long tunnel will be completed in 2022.

March 29, 2011

Economy: "South Axis” Demands Recovery Program

Styria and Carinthia are at a disadvantage concerning infrastructure compared with other provinces, was the criticism of the Economic Chambers of the "strong south".

March 25, 2011

Hypo Group Starts Sales

The emergency-nationalized Carinthian Hypo Group is to sell its Austrian and Italian subsidiary in the coming weeks.

March 19, 2011

Good Prospects for Kärntner Sparkasse

The regional bank was able to improve its operational result significantly last year. But Slovenian results still hinder profits.

March 16, 2011

Griffner is Aiming at IPO for 2013

The Carinthian construction company, which specializes in ecological construction intends to acquire new capital in the coming years in order to expand.

March 12, 2011

Austria's Public Debt Ratio Increases to over 80%

By including again non-active budget items, which are no longer allowed under EU law, debts of the Republic of Austria increase dramatically.

March 8, 2011

Increasing Profits for BKS

The Carinthian/Styrian regional bank could increase net earnings after taxes by 14.8%.

March 4, 2011

Accusations against Hypo Group in Slovenia

The Austrian bank is under investigation because of suspicious real estate and financial transactions.

February 15, 2011

Technology Offensive in Carinthia

Very powerful R&D developments are to be observed in Carinthia: expenditure for R&D rose from 0.42% in 1993 to 2.43% according to the latest figures.

February 14, 2011

Australian Mining Company Seeks to Extract Lithium

Europe's largest lithium reserves are considered to be in the Austrian Alps. There is already interest for its extraction in Australia.

February 12, 2011

Austria Provides 1.09 million Beds for Tourists in 2010

In Austria, the bed capacity utilization in the winter season is higher than in the summer season.

February 4, 2011

New Advance for Baltic-Adriatic Corridor

The Carinthian Economic Chamber supports the information campaign of Governor Gerhard Dörfler in favor of the Baltic-Adriatic Corridor.

February 2, 2011

Increase in Passengers at Austrian Airports

Every of the six Austrian Airports could record substantial growth in passengers in 2010. Their number rose by 7.9%.

January 31, 2011

Hypo Group: Non-Performing Loans for € 8.5bn

The Hypo Group nationalized by the Austrian government is still deep in the red. The bank will be profitable as of 2012.

January 29, 2011

Humanomed to Expand to CEE/SEE

The Austrian Humanomed-Group, a health care company, sees potential to expand to countries in (South) Eastern Europe.

January 28, 2011

Hypo Group: Little Enlightment Expected from Grasser and Berlin

The Chairman of the Inquiry Committee on the Hypo Group expects little gain of information by the summons of Karl-Heinz Grasser and Tilo Berlin.

January 4, 2011

Secret Foundation of BayernLB in Austria

In the hearings on the purchase of Austria's Hypo Group, a former Member of the Board of BayernLB concealed the existence of a foundation in Austria.

January 3, 2011

Hypo Group: Sanader Denies Payments of Commissions

The former Croatian Prime Minister Ivo Sanader, questioned in Salzburg, denies having ever received money from the Hypo Group.

December 22, 2010

Accusations Against Sanader Grow Stronger

Many clues point to improper activities by former Croatian Prime Minister Ivo Sanader in connection with the Hypo Group.

December 16, 2010

Government Support for the Hypo Group

The Hypo Group is still far away the end of restructuring. Losses between € 700m and € 900m are expected for this year. The state gives a guarantee for 500m.

December 13, 2010

The Croatia-Connection of the Hypo Group

The recent arrest of former Croatian Prime Minister Ivo Sanader casts shadows on the Carinthian Hypo Group.

December 10, 2010
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