Sponsored Content
Downsizing
Austria: RBI Expects Stabilization
Business in CEE seems to be in an up again. RBI is preparing for an IPO at the Warsaw stock exchange.
October 17, 2013
Austria: Decisions about Hypo Group Expected This Year
Decisions about the future of problem bank Hypo Alpe Adria will in all likelihood be delayed.
October 16, 2013
Russian and Ukrainian Oligarchs Interested in RBI’s Affiliate
The Ukrainian affiliate of Raiffeisen Bank International (RBI), Bank Aval, has become the object of desire for Russian billionaire Fridman and Ukrainian banker Lagun.
October 15, 2013
Austria: Downsizing Models for Hypo
Currently, everything revolves around the establishing of a bad bank despite of Finance Minister Maria Fekter’s objection. However, now, after the elections, this issue needs to be resolved.
October 4, 2013
RHI: Growth Plans in Emerging Markets
Franz Struzl, CEO of producer of fused cast refractories RHI, announced that the long-term strategic corporate goals were still relevant. However, it is not clear when the targets will be reached.
September 24, 2013
RBI: Sevelda to Remain CEO unil 2017
Karl Sevelda, who was appointed new CEO of listed Raiffeisen Bank International (RBI) at the beginning of June, does not regard himself as interim head of the bank.
September 23, 2013
Bank Austria to Close Subsidiaries in Hungary
Because of higher costs caused by a tax on financial transaction, which was introduced during the current year, the affiliate of Italian UniCredit intends to downsize operations in Hungary.
September 19, 2013
Bank Austria Considers Establishing Franchise Banks in Austria
The streamlining of the CESEE network of Bank Austria seems to take on a very concrete form now.
September 16, 2013
Austria: voestalpine Sells its Interest in VA Intertrading
The voestalpine Group announced today that over the next three years it will gradually sell its 38.5% interest in VA Intertrading to an investor.
September 13, 2013
Turkish Airlines Not Interested in Croatia Airlines
The Turkish airline carrier has denied rumors of acquiring states at Croatia Airlines.
September 11, 2013
VIG: Downsizing Business in Italy
Donau Versicherung, affiliate of VIG, has to make provisions in the amount of € 35m.
September 10, 2013
VBAG to Start Selling Process of Volksbank Malta Ltd.
The Austrian VBAG has started the selling process of its affiliate Volksbank Malta Ltd. (VB Malta).
September 5, 2013
Austria: Up to € 11.7bn for Downsizing Hypo Group
Years of discussion went by; now the EU Commission has approved the downsizing plan for nationalized Hypo Alpe Adria.
September 4, 2013
Hypo: New Risky Loan Agreements Even in 2012
According to the EU Commission, risky loans were granted by ailing Hypo Group even in 2012.
September 3, 2013
VBAG: First Half Year with Losses of € 87m
Partly-nationalized VBAG made net losses in the amount of € 87m in the first half of 2013. In the first half year of 2012 high book profits caused profits to be slightly above zero.
August 29, 2013
Massive Losses for Alpine: € 5bn in Debts
According to the reports of the insolvency administrators, reasons like a chaotic management and low-price offers that did not prove cost-covering led to massive losses in projects abroad.
August 29, 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 Zumtobel Sells Factory in Australia
Because of abandoning of a business area, Tridonic, affiliate of Austrian light producer Zumtobel, sells its magnetic plant in Melbourne.
August 21, 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
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
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
OMV Petrom Sold Subsidiary
OMV Petrom sold its subsidiary Petrom Distribuţie Gaze SRL.
July 11, 2013
Bank Austria to Close 67 Subsidiaries
UniCredit Affiliate Bank Austria plans to close 67 subsidiaries – a quarter of its 270 stores for private costumers until 2015.
July 3, 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
Zumtobel to Close Plant in Austria
Tridonic, which is part of listed light manufacturer Zumtobel Group, will close its plant in Fürstenfeld in the province of Styria. 100 employees will lose their jobs.
June 25, 2013
Alpine Facing Bankruptcy
The restructuring of Austria’s second biggest construction company Alpine has failed. The enterprise therefore has to face bankruptcy.
June 19, 2013
Alpine Can Take A Breather
Alpine’s liabilities amount to € 450m. Spanish parent company FCC is supposed to provide a capital injection of € 150m.
June 13, 2013
Alpine’s Fate Hanging By A Thread
The fate of Austrian construction company Alpine is hanging by a thread. If negotiations fail Alpine has to face its ruin.
June 13, 2013
Erste Group Claimed of Being Interested in Croatian Banks
There are rumors of the taking over of Hypo Croatia and HPB. However, the banks deny the speculations.
May 29, 2013
Hypo Group to Sell Austrian Affiliate
On Friday the deal of nationalized Hypo Bank’s Austrian affiliate will finally be sealed. Indian Srei Group will become the new owner in all likelyhood. The company will pay € 60m to € 70m.
May 29, 2013
Siemens to Cut 1,000 Jobs in Austria?
No official figures were disclosed. However, there are “programs”, which have to be negotiated with employees, according to a spokesman.
May 24, 2013
bwin.party to Concentrate On Ten Markets Only.
After the weak figures in the first quarter, bwin.party CEO Norbert Teufelberger wants to get the online gambling provider back on track. However, the company also cast an eye to enter the US market.
May 23, 2013
Srei Group to Offer € 65.6m for Hypo
The Indian Srei Group offers € 65.5m for Austrian Hypo affiliate.
May 22, 2013
Austria: Hypo Group Dilemma Requires Highest Form of Diplomancy
Before the deadline of handing in the new restructuring paper, talks with the top of EU Commission are supposed to take place with Austrian politicians.
May 10, 2013
Slovenia: NLB to Fire Workstaff
Slovenia's biggest bank, NLB, is to make up to 700 of its workstaff redundant.
May 10, 2013
Maria Fekter: Hot-Tempered Lady At the Fireplace
Raiffeisen Centralbank (RZB) organized a „fireplace chat“ with Finance Minister Maria Fekter which took place on May 7 in Vienna.
May 8, 2013
Magna Negates Downsizing
The Canadian-Austrian automotive component supplier Magna has rejects the alleged cut in workstaff in its plant in Graz.
May 6, 2013
Croatia: Pushing Ahead With Croatia Airlines Restructuring
Despite of protests of employees restructuring measures will be continued.
May 3, 2013
Croatia Airlines To Cancel Flights After Staff Went On Sick Leave
Croatia Airlines had to cancel 13 flights on May 1, after 25% of the airlines staff went on a sick leave, in what the heads of the airline consider a protest against changes to employment conditions.
May 2, 2013
Austria: EVN Results Expected to Be Below Estimates
EVN specifies expected consolidated Group net profit as of 09/30/2013
May 2, 2013
Hypo Group to Get a Bad Bank?
Chancellor Faymann confirmed negotiations about the establishing of a bad bank for non-performing loans.
April 30, 2013
Erste Group Finalizes Selling Of Ukrainian Subsidiary
Erste Group finalizes the sale of Erste Bank Ukraine.
April 30, 2013
Selling of Hypo Group Would Cost Austria Dearly
The selling of Hypo Group would cost the Austrian state around € 16bn.
April 29, 2013
Croatia: Trying to Sell Croatia Airlines
Croatia is starting an attempt to try and sell a stake of troubled Croatia Airlines (CA).
April 25, 2013
CEO of Alpine: „Hubris Led to Losses“
Schiefer, new CEO of Alpine, explained in an interview why Alpine made losses in 2012.
April 25, 2013
Austria: Tyrolean and AUA Agree on Social Plan
After eleven hours of negotiations, three main points were decided on. However, details have not been disclosed yet.
April 18, 2013
S&P: More Funds For KA Finanz
Austrian major banks are performing weakly. Risks increase in CESEE countries. S&P also warns of real estate bubble in Vienna.
April 18, 2013
RBI to Take Over Bank of Cyprus Affiliate?
The Bank of Cyprus has split up with the assets of its Romanian affiliate. Apart from RBI, Banca Transilvania is a potential buyer.
April 18, 2013
Bulgaria: New Coca-Cola Headquarters in Sofia
The world’s largest soft drink producer Coca-Cola is to relocate one of its competence centers from Belgium to Bulgaria.
April 15, 2013