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Czech Republic

Kapsch Acquired Czech Data Storage

The Austrian IT company strengthens its presence in CEE with acquisition of Data Storage in the Czech Republic.

September 3, 2012

Goldman Sachs Lowers Expectations for Austrian Banks

The U.S. investment bank anticipates decreasing earnings.

August 27, 2012

S&P Confirms Czech Rating

The U.S. rating agency retained the rating for the Rczech Republic.

August 24, 2012

Investment in Czech Republic Still Below Pre-Crisis Level

The global financial crisis, which originated in the USA in 2007 also hit the Czech Republic quite hard despite the fact that neither its internal nor external imbalances were excessive, the Czech Central bank stated.

August 24, 2012

Czech VAT to Increase

In order to increase public revenues, the Czech government may increase value added taxes.

August 21, 2012

Profits Grow Slower in Polish Banking Sector

The Polish banking sector is still very stable. However, a trend reversal is foreseeable.

August 10, 2012

OMV to Focus on Gas Business

The Austrian oil and gas company intends to exploit natural gas in proximity to Europe. The Black Sea and the North Sea are the strategically most important areas.

August 8, 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

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

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

OMV: No Withdrawal from Germany

The Austrian oil company and petrol station operator will not sell the petrol station business in Germany. By contrast, the downsizing program in the SEE region and in the Czech Republic will be continued.

July 19, 2012

„No Austerity Measures in the Czech Republic“

The Vienna Institute for International Studies underlines that the Czech Republic´s financial situation is very stable at the moment. Austerity policies would not be required.

July 11, 2012

IMF: New Central and Eastern European Constituency

Austria, Belarus, the Czech Republic, Hungary, Kosovo, the Slovak Republic, Slovenia and Turkey have established a Central and Eastern European Constituency at the International Monetary Fund.

July 11, 2012

Purchasing Power in CEE Region: Czech Republic Ranks First

Among Poland, Slovakia and the Czech Republic, Bratislava records the biggest regional purchasing power. In total, the Czech Republic ranks first.

July 7, 2012

Austria Remains One of the Biggest CESEE Investors

Austria is still an important net investor in Central, Eastern and Southeastern Europe. However, the global importance of the region did not increase.

July 6, 2012

CEE Defies Turbulences in the Eurozone

GDP in CEE expected to grow 2.6 per cent in 2012 – eurozone expected to shrink by 0.3 per cent. Growth forecast for Austria’s GDP at 0.7 per cent in 2012

July 5, 2012

Czech Republic: OMV Withdraws, MOL Expands

The Hungarian oil and gas group purchased 124 petrol stations in the Czech Republic. The Austrian OMV continues its downsizing strategy.

July 4, 2012

Boom in New Listings at Prague Stock Exchange

The CEESEG member Prague Stock Exchange is pleased about new listings despite the current economic crisis.

July 2, 2012

Energochemica Enters the Prague Stock Exchnage

Energochemcia SE officially announced its intention to enter the Prague Stock Exchange (PSE). The company wants to focus on acquisitions of key energy and chemical industry companies.

June 29, 2012

Credit Crunch in CESEE?

Anglo-Saxon banks and funds are most aggressive in deleveraging; Austrian bank are not relying on funding from countries in hotspots of deleveraging.

June 27, 2012

Schwarzenberg: „Czech Republic Should be Europe´s Hard Core“

The Czech Minister of Foreign Affairs thinks that the Czech Republic should be among the EU´s core nations. This would be the only useful alternative for the country, Schwarzenberg says.

June 26, 2012

Treichl: „Europe Does Not Need the Euro“

Andreas Treichl, CEO of Austrian Erste Group thinks that the European Union would work very well without the common currency. A common army would be more important.

June 25, 2012

CESEE Banks: Small Exposure in Southern Europe

The riskiness of assets held by CESEE banks is manageable, the U.S. rating agency Fitch says. The CESEE region has closer links to Western Europe than to Southern Europe.

June 20, 2012

CEE Banking Sector „Performs Well“

The Austrian Raiffeisen Centrobank sees high-growth potential in the CESEE region. Loan growth is at „healthy levels“, there are „no signs of a credit crunch“.

June 6, 2012

Massive Gap in Purchasing Power

Purchasing Power Parities 2012: Higher travel costs for overseas destinations; Austrians' purchasing power 40–70% above the level in Slovakia, Czech Republic and Hungary.

May 21, 2012

Improved Business Atmosphere in CESEE Region

According to a survey by OeKB (Oesterreichische Kontrollbank), expectations of investors are beyond the level of January. Austrian exports to the CESEE region may increase.

May 4, 2012

OMV´s Petrol Stations: Potential Buyers in Sight

The Austrian oil and gas company OMV plans to sell its petrol stations in Croatia and Bosnia. Local investors show interest.

April 17, 2012

Goldman Sachs: Too Small Margins at Austrian Banks in CEE

The U.S. investment bank is optimistic that the CEE region recovers in 2013. The write-offs made by Austrian banks were “correct”.

April 16, 2012

Kapsch: Critique by Czech Republic

The toll collection system in the Czech Republic is more expensive in Austria or Germany, the Czech audit authority alleges.

April 14, 2012

Lutz Continues Expansion Program

The world´s second largest furniture house intends to grow in Eastern and Southeastern Europe.

April 7, 2012

EStAG Reports Moderate Rise in Earnings

The Styrian energy supplier Energie Steiermark AG could raise revenues by 9.0% to 1.37bn. Operating profits were down, though.

March 30, 2012

“The Czech Republic Has Traditionally Been an Important Partner for Austria”

Austrian State Secretary Waldner meets Czech EU State Secretary Belling.

March 19, 2012

Ghizzoni: „Austrian Bank Tax Is Painful“

The Chief Executive Officer of UniCredit, the holding company of Bank Austria emphasizes not to sell the Austrian subsidiary. The bank tax is “unfair”.

March 10, 2012

Imports Grow Stronger than Exports

January to December 2011: Austrian imports rose by 15%, exports increased by 12%.

March 9, 2012

RBI Optimizes Its Structure of Participations

EBA decides not to recognize privately placed participation capital. RZB Group will nevertheless meet the EBA target, the bank argues.

March 8, 2012

Uniqa Aims for Growth in CESEE Region

The Austrian insurance group wants to sell stakes by the minority shareholders of subsidiaries in Eastern Europe. The capital increase is scheduled for 2013.

March 5, 2012

Eder: „Environmental Policy Endangers Economy“

Voestalpine´s CEO criticizes environmental specifications made by EU and domestic politics. Eder sees the danger of a de-industrialization.

March 5, 2012

Viennese Office Market: Collapse Threatens

Although office rents are relatively low in Austria´s capital, multinational companies tend to establish their headquarters elsewhere. Real estate experts fear a vicious circle.

March 5, 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

Immofinanz Group Develops Office Building in Prague

The Austrian real estate group makes an investment of 24.6m in the Czech Republic. The project will be finalized in 2013.

February 29, 2012

Polytec Aims For Expanding in Asia

Friedrich Huemer, CEO of the Austrian automotive supplier, wants to start investments in China and India.

February 27, 2012

CSC Establishes its CEE Headquarters in Vienna

The U.S. IT service supplier CSC upgrades the Viennese subsidiary as regional headquarters for ten countries.

February 22, 2012

Erste Group Manages Issue of Czech Republic € 2.0bn Bond

The Austrian bank observed good demand for the Czech sovereign bonds offering: total orders of approx. € 3.5bn from over 190 investors.

February 22, 2012

Prague Stock Exchange and CCP.A to Cooperate

Prague Stock Exchange (PSE) and Austrian clearing house Central Counterparty Austria (CCP.A) signed a Memorandum of Understanding on the cooperation in cash markets.

February 20, 2012

Sberbank Upgrades VBI´s Headquarter in Vienna

After the acquisition of the Austrian VBI, the Russian bank wants to expand massively in Europe.

February 20, 2012

SLR Group Plans Major Increase in Sales

The Austrian foundry company expects to realize sales of 60m in 2011/12. In the first half year, sales were up by 24%.

February 9, 2012

CEE Countries with Bigger Space for Higher Bond Yields

Romania, Czech Republic and Slovakia with biggest room for manoeuvre in case yields would spike; Hungary should avoid financing at +6%, says Erste Group.

February 6, 2012

Lutz Enters Croatia

The Austrian furniture store group opens its largest center in the SEE region. Market leader Ikea follows in autumn 2012.

January 26, 2012