Sponsored Content
Crime
Austria: Fekter Signed OECD’s Multilateral Assistence Agreement in Tax Matters
Fekter described the signing as a “further important step in the fight against tax evasion and tax fraud”.
May 29, 2013
Croatia: PM Anxious About Country’s Image
Prime Minister Zoran Milanovic announced that Croatia had to fight hard for its reputation within the European Union.
May 27, 2013
Austrian Top Banker to Appear in „Offshore-Leaks“
For the first time, a European top banker appears in the “Offshore-Leaks” database. CEO of Raiffeisen Bank International (RBI) Herbert Stepic is coming under massive pressure.
May 23, 2013
Bulgaria to Table Bill of Amendments in Energy Sector
New regulations will be drafted when caretaker government leaves office.
May 23, 2013
Orban’s „Derailment“ Causes Indignation in Germany
Hungary’s head of government Viktor Orban seems to love the confrontation. However, with the accusation of Germany using Nazi-methods he overstepped the mark in terms of tact.
May 21, 2013
Austria: EU Competition Authority to Search Agrana
The European competition authority has paid a visit to listed starch and sugar producer Agrana in April.
May 15, 2013
EU Commission Expects Austria to Agree To EUSD
Head of Eurogroup Jeroen Dijsselbloem expects a constructive approach of Austria in the debate about the automatice exchange of data of tax foreigners in Europe.
May 13, 2013
US: Kerry Announced Support of Ukraine’s EU Integration
US Secretary of State John Kerry announced his support for Ukraine’s move towards an EU membership.
May 13, 2013
Austria: Solution for Bank Secret Issue Until May 22
After the recent turbulances within the Austrian government coalition, Chancellor Werner Faymann hopes to find an agreement with the EU concerning the bank secret until May 22.
April 29, 2013
Albania: Under EU’s Watch
Brussels called for further modernizations of the judiciary in Albania before the EU considers Accession talks with the country. Futhermore the union announced to keep a close eye on the elections in June.
April 24, 2013
EU Commission Waiting For Austria’s Decision
The EU Commission expects a uniform stance in regard to Austria’s bank secret and the transition to automatic exchange of information.
April 23, 2013
Austria and Turkey to Deepen Relations
Justice Minister Karl wants to improve cooperations with Turkey.
April 17, 2013
Austria: Three Convictions at Immofinanz Process
Former head of Immofinanz, Petrikovics, was sentenced to six years in prison. Co-defendants Schwager and Thornton were sentenced as well.
April 12, 2013
EU Examines Bulgarian Electricy Market
On request of the Bulgarian Government, an expert group will examine the prices for electricity after the protests. Another issue is the independence of the energy regulator.
April 12, 2013
Cyprus to Receive More Capital
Cyprus requires more money than expected and will receive it. Head of Eurogroup, Jeroen Dijsselbloem, has promised an examination if money laundering exists.
April 12, 2013
Ukraine: Yanukovych Rejects Pardoning Tymoshenko
President Yanokovych does not consider a pardoning as long as trials continue.
April 11, 2013
Fekter: „Austria is a High-Tax Country“
Bank secrecy will be an official issue at the meeting of EU finance ministers in Dublin on Saturday. Fekter criticizes the UK sharply.
April 11, 2013
Russia: Kalashnikov-Producer Izhmash Suspected of Embezzlement
A former General Director is suspected of having transferred securities beyond their value. A lawsuit based on corruption allegations was filed against a former Deputy Agriculture Minister.
April 11, 2013
Fekter: “I Will Fight to Preserve Banking Secrecy in Austria!”
“Data protection is a valuable institution. We will continue to protect innocent citizens, but will also continue to lead the way in pursuing tax evaders.”
April 8, 2013
Russia: Economic Growth Below Expectations
The Russian economy is flatlining. The government and the Central Bank of Russia (CBR) blame each other for the current state of affairs.
April 8, 2013
Cyprus: Evidence Destroyed?
According to reports by the media in Cyprus, important evidence about the heavily affected Bank of Cyprus was destroyed.
April 4, 2013
Russia: Refinancing Rate Expected to Be Cut
The Central Bank of Russia (CBR) estimates inflation risks higher than a slow economic growth. However, the refinancing rate is expected to be lowered soon.
April 3, 2013
Serbia: Financial Underhand Practices Discovered
Financial underhand practices had lead to losses of € 700m for the Serbian state.
March 30, 2013
Hungary: Tax Overhaul Finalized
Minister for National Economy: taxation system completed - time for fine-tuning.
March 27, 2013
Russia Wants Berezovsky’s Heritage
After the death of Kremlin critic Boris Berezovsky, Russia wants to grab the former entreprenuer’s assets.
March 25, 2013
Austria: Welfare Fraud Costs € 1bn Per Year
According to a study, which was commissioned by the Chamber of Commerce (WKO) and carried out by the Johannes-Kepler University in Linz, social fraud causes a smaller amount of economic damage than fiscal evation and black labor.
March 19, 2013
Austria: Meinl‘s Bail Money to Be Reduced Significantly
According to the Higher Regional Court (OLG) in Vienna, Julius Meinl is to receive € 90m of his bail money back.
March 19, 2013
Cyprus: Parliament Votes Tomorrow For Rescue Package
The Cyprian parliament is unlikely to vote in favor for the rescue package which forces bank clients to contribute with their private money.
March 18, 2013
Red Bull Sells More Than 5bn Cans Worldwide
Energy drink producer Red Bull was able to increase turnovers by almost 16 %, totaling € 4.93bn.
March 15, 2013
Eurozone: Cut in Interest Rate Not Necessary
According to govenor of the Austrian National Bank an interest rate cut to improve the economic situation in the eurozone is not required at the moment. UKIP Leader Farage criticizes politicians for denying problems in eurozone.
March 14, 2013
Mignon (PACE) Praises Serbia For Progresses
Today, president of the Parliamentary Assembly of the Council of Europe (PACE) Jean-Claude Mignon gave credit to Serbia’s progress in the execution of reforms and expressed faith in finding solution for the Kosvo issue.
March 12, 2013
Serbia Faces Political Crisis
After severe allegations against Prime Minister Ivica Dacic, the Serbian governing socialists reject to hold new elections. The coalition partner still supports Dacic.
February 4, 2013
Vienna Airport Customs Office: Number of Seizures Was Up Significantly
"The Vienna Airport customs office’s annual announcement of its performance statistics once again confirms the outstanding work of Austria’s customs officials." the Austrian Ministry of Finance says.
January 21, 2013
Austria: Corruption Is Costing Taxpayers € 17bn
A report issued by OECD analyzes the economic costs of corruption. In case of Austria, the damage totals about 5% of the GDP.
January 18, 2013
Slovenia: Jansa Receives Support
Slovenian Prime Minister Janez Jansa receives support from his party SDS. The government crisis continues, though.
January 10, 2013
Slovenia: Government in Crisis
After severe allegations of corruption, Slovenia´s government is under pressure.
January 9, 2013
Austria: Black Labor Decreases
Since 2004, the size of black labor is declining in Austria. Nine years ago, the share of GDP came at 11%: In 2012, black labor was 7.5% of GDP.
January 8, 2013
OECD Criticizes Austria´s Anti-Corruption Policy
Austria’s enforcement of foreign bribery laws far too weak, but could pick up soon says OECD.
January 8, 2013
EU Calls Bulgaria to Intensify Fight Against Corruption
The European Union recommends Bulgaria and Romania to increase their effort regarding the fight against organized crime and corruption.
September 25, 2012
Austria: Corruption on the Rise
Corruption causes damages of € 26bn in Austria. According to a study, 11% of the Austrian interviewees felt affected by corruption.
September 24, 2012
Austrian Enterprises Complain About High Costs of Corruption
According to a study by Transparency International, about 20% of the interviewed enterprises feel affected by corruption.
September 10, 2012
NKBM Suspected of Money Laudnering
The second-largest Slovenian bank does not only face financial problems. NKBM´s management is alleged to have practiced money laundering activities.
August 23, 2012
Proceedings Against Bulgarian Subsidiary of OMV Stopped
The Bulgarian Competition Authority KZK stopped investigations against OMV Bulgaria, Rompetrol, Lukoil and Naftex Petrol. The companies were suspected of price fixing.
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
Railway Cartel: € 8.5m Fine for voestalpine
The steel group participated in a railway cartel in Germany. The cartel proceedings are finished now.
July 5, 2012
New IV´s President Dissatisfied with Political System
The corruption scandals oft he past would damage Austria´s reputation as business location, Georg Kapsch thinks.
June 23, 2012
Second Bawag Process Starts
In June, the former investment fund manager Wolfgang Flöttl will face retrial of Austria´s biggest criminal process.
April 25, 2012
Former Bawag CEO Criticizes Cerberus Sharply
Helmut Elsner, former CEO of Bawag, accuses the new owner Cerberus to abuse the bank as “garbage dump” for toxic assets.
April 18, 2012
Tax Deal Fiercely Criticized
Last week, Austria concluded a tax treaty with Switzerland. For experts, the deal does not solve the main problems.
April 16, 2012
Eder Ticks Off Rail Cartel
Voestalpine´s CEO Wolfgang Eder underlines the new compliance rules of voestalpine. Another participation in a cartel would be “impossible”.
April 7, 2012
Fast News Search
