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Energy Industry

CEZ Bulgaria in “Full Compliance with the Law”

CEZ, along with other foreign utilities in Bulgaria, does not regard itself being obliged to pay a certain amount to state-controlled utility NEK.

May 9, 2014

MOL Group Acquires 208 Filling Stations in Three CEE Countries

MOL Group’s retail network grows to almost 2,000 service stations across 11 countries. The Group’s market presence expands significantly in the Czech Republic, Slovakia and Romania. Retail network expansion further strengthens MOL Group’s role in CEE.

May 9, 2014

MOL: Oil Supply to Hungary not Endangered

According to Hungarian oil and gas enterprise MOL, the supply to Hungary is not endangered by the delivery stop of Russian oild products passing through Ukraine.

May 9, 2014

Calls for European Energy Union Become Louder

Polish PM Tusk called for a European energy union. His Hungarian counterpart supports the idea.

May 9, 2014

Verbund: Trying to Get Rid of Sorgenia

The Austrian utility Verbund announced not being willing to invest any further money into loss-making Italian energy group Sorgenia.

May 8, 2014

Eder: Policy-Makers Have to Make Decisions

Wolfgang Eder, CEO of Austrian steel manufacturer voestalpine, claims not to have heard anything from the Austrian policy makers after he raised criticizm with regard to the Austrian business location.

April 24, 2014

Poland: No Danger of Deflation

According to Marek Belka, governor of the National Bank of Poland (NBP), there is not threat of deflation.

April 7, 2014

Austria: Economic Recovery Remains Modest

Political clouds over economic recovery.

April 1, 2014

Romania: Key Interest Rate Remains Unchanged

The central bank of Romania has left the main interest rate unchanged.

March 31, 2014

Romania: Ponta Clinging to Leadership

Reforms in Romania will be carried out even if Ponta’s new government’s majority will be reduced in parliament.

February 27, 2014

Austria: “Council of the Wise“ for Hypo Group

Instead of a parliamentary investigation committee the coalition expressed its wish to appoint a “Council of the Wise” for the the assessment of the ailing bank’s nationalization.

February 25, 2014

Hungary Amending Figures of Budget Deficit

Hungarian Finance and Economy Minister Mihaly Varga announced that the budget deficit of 2013 will be below the target after it was lowered dramatically.

January 8, 2014

Serbia: Moderate Economic Growth in 2013

According to the release of the Serbian Statistical Office, GDP is estimated to have grown 2.4% in 2013.

January 2, 2014

Czech Republic: New Government Confirmed

Seven weeks after the national elections, the Czech Social Democrats (CSSD) have agreed to form a coalition with ANO and the Christian Democrats (KDU-CSL).

December 11, 2013

Ten Capital Market Themes for 2014 by Raiffeisenbank

Leading indicators show a recovery of global growth.

December 11, 2013

Austria: Federation of Trade Unions Warns of Privatizations

The Austrian Federation of Trade Unions warns the Austrian state not to push through with further privatizations.

December 11, 2013

Construction Industry Remains Weak Point of Slovenian Industrial Sector

Slovenia´s industrial sector records a decline in employment and investments. Despite the economic downward trend, the energy sector achieves growing turnover figures.

November 16, 2013

Controversy Over Special Taxes in Romania

The Romanian government plans to impose new taxes in 2014. Foreign investors may leave the country.

November 12, 2013

WEF: Russian Economy Needs Change in Domestic Institutional Environment

The Russian Federation is poised for transformation.

November 1, 2013

Analysis - Vienna Stock Exchange on a “Sustainable Upward Trend”

After five downhill years, the Vienna Stock Exchange is finally seeing something like a silver lining.

October 30, 2013 · Updated: November 5, 2013; 18:00

Dispute about Gas between Russian and Ukraine about to Escalate

According to Russian energy giant Gazprom, Ukraine has not yet paid deliveries of natural gas in the amount of around € 639m.

October 29, 2013

OMV: Weakest Refining Margin Since 2009

Compared to the same period in 2012, the whole production of Austrian oil company OMV has decreased in the third quarter as well as compared to the previous quarter.

October 18, 2013

Austria: Voestalpine Expects Same Results as 2012

CEO Wolfgang Eder expects the same level in profits as last year.

October 17, 2013

Bulgaria Supports Trans Adriatic Pipeline

During yesterday’s world media meeting, on behalf of his country Bulgarian President Rosen Plevniev expressed his support of the Trans Adriatic Pipeline project (TAP).

October 16, 2013

Ukrainian Gas Pipeline Key Issue for EU Commission

A gas pipeline plan in the Ukraine is among the EU Commission’s key infrastructure projects.

October 16, 2013

Solution to Croatian/Hungarian Mol Issue Expected Soon

The Croatian justice has issued an international arrest warrant for the head of Hungarian oil company Mol.

October 15, 2013

EU Commission Favors New Nabucco Project

After OMV’s pipeline project Nabucco failed, the EU Commission takes into consideration a stripped-down version along the Danube.

October 14, 2013

Croatia: Hypo Group Losing Last Industrial Participation

Croatian chemical company Dioki is facing bankruptcy which is why Hypo Group is losing one of the last industrial participations in the country.

October 14, 2013

Serbia’s Participation in South Stream Not at Risk

According to Petar Skundic, Serbian energy advisor to the Prime Minister, the gas pipeline project is not imperiled by the government’s austerity measures.

October 14, 2013

Romania Keeps Majority Stake in Romgaz

Romania´s government will privatize 15% of the country´s biggest natural gas producer. The opening of the economy to foreign investors bears potential dangers.

October 12, 2013

Trade in Austria Has Increased Since Opening of CESEE Market

Today the Austrian Institute for Economic Research (Wifo) published the “Analysis of the Austrian Balance of Trade“ on behalf of the Economic Ministry.

October 10, 2013

Gazprom May Face Proceedings by Austrian OMV

OMV considers arbitral proceedings against Russian Gazprom in case no joint solution will be found.

October 9, 2013

Hungary and Croatia to Solve MOL/INA Issue

Both Hungarian Minister of Foreign Affairs Janos Martonyi and his Croatian counterpart Vesna Pusic intend to solve the issue between Hungarian MOL and Croatian INA.

October 9, 2013

Poland Hopes for Cheap Gas by Gazprom

The Polish government is hoping to be able to bargain prices with Russian energy giant Gazprom, Polish Minister for Economy Janusz Piechocinski announced today.

October 8, 2013

Romania: Bucharest Stock Exchange to Be Enlarged?

Ludwik Sobolewski, new CEO of Romania’s Bucharest Stock Exchange (BSE), is toying with the idea of enlarging the institution and making it a competition to Budapest, Vienna and Prague withing two years only.

October 7, 2013

Hungary Rejects Extradiction of Head of Mol

A Hungarian court rejected the extradiction of Zsolt Hernadi, who is alleged of having bribed former Croatian Prime Minister Ivo Sanander.

October 7, 2013

Hungarian MOL May Withdraw from Croatia

The Hungarian government considers selling MOL´s Croatian peer INA.

October 4, 2013

EU Commission to Lead Cartel Proceedings Against Gazprom

The Russian energy giant Gazprom might face penalties of up to € 11bn.

October 3, 2013

Economic Upturn in Austria, Eurozone and CEE

Turbulent Emerging Market conditions have little impact on CEE.

October 2, 2013

Eurozone: Inflation Drops to 1.1 Percent

According to first estimates by Eurostat, the Eurozone shows the lowest inflation rate in more than a year. Only twelve months ago the inflation rate was at 2.7 percent.

September 30, 2013

Rosneft Wants to Take over Majority of TNK-BP

The World’s biggest oil company Rosneft intends taking over British-Russian joint venture TNK-BP at the beginning of next year.

September 30, 2013

Croatia: Major Reforms Required for Economic Upturn

Croatia continues to suffer from recession - its economy has not grown since 2008, contracting in 2012 by 2% and in 2013 by 1%.

September 26, 2013

Poland Leads Ranking of Top Enterprises in CEE

Credit insurance company Coface has for the fifth time published a study about the Top 500 enterprises in Central and Eastern Europe.

September 24, 2013

Poland: Warsaw Stock Exchange to Introduce WIG30

The new index covers thirty enterprises instead of formerly twenty and reduced the dominance of the banking industry.

September 23, 2013

Further Nationalizations in Hungary?

In order to acquire further foreign-owned bank and energy companies, Hungary issues new sovereign bonds.

September 23, 2013

Keuschnigg: Losses of Hypo Compensated by Privatizations

Christian Keuschnigg, head of the IHS (Austrian Institute for Higher Studies) suggests to privatize OMV, Post and Telekom Austria to pay for Hypo Group.

September 20, 2013

Wifo: Economy Remains Competitive Despite High Wages

Head of Wifo (Austrian Institute for Economic Research), Karl Aiginger, calls for a change of views in economic policy as competitiveness is more than just low costs.

September 18, 2013

Gazprom to Team Up With Macedonia

Russian energy giant Gazprom is interested in cooperating with FYR Macedonia.

September 17, 2013

Romania: Austrian Investors Demand Transparency

In an interview with Business Review Romania, Rudolf Lukavsky, commercial counselor for Romania and Moldova at the Austrian Embassy described the downsides and advantages of the economic environment in the country.

September 17, 2013

Serbia Welcomes Russian FDI

Serbian Prime Minister announced that his country was interested in Russian investments.

September 13, 2013