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Founder of Global Peter Drucker Forum Honored as Excellent Management-Ambassador
Dr. Richard Straub, who resides in Paris for more than two decades, received the Grand Decoration of Honour for Services to the Republic of Austria (Große Ehrenzeichen für Verdienste um die Republik Österreich) at the Austrian Embassy in Paris.
February 5, 2019
Economic Relations Between France and Austria on the Rise
France is Austria's fourth most important export market worldwide. At more than EUR 3 bn, the trade surplus with France is the second highest in the world after the USA. Last year, France grew particularly strongly as a destination for Austrian products with an increase of 32% or EUR 7 bn in Austrian exports.
January 30, 2019
Reinsurer VIG Re to Expand to Paris
After opening an office in Frankfurt a year ago, another West European representative office is now to follow in Paris. The new branch will be headed by Patrick Chevrel. As part of the Vienna Insurance Group, VIG Re has been founded in 2008 by being established as a core player in the reinsurance market in Austria and CEE, and now also in certain West European countries.
November 26, 2018
Man Ray at the Kunstforum Wien: "To Create is Divine, to Reproduce is Human"
Until 24 June 2018, the Kunstforum Wien is showing the exhibition "Man Ray", which portrays the significant painter and photographer Man Ray (born Emmanuel Radnitzky) in a selection of 150 key works from all over the world.
March 8, 2018
Semperit AG Holding / Agreement on social plan for French Production site in Argenteuil signed
Semperit AG Holding announces that the management of the French subsidiary Sempertrans France Belting Technology ("SFBT") has signed an agreement on 13th October 2017 with the representative bodies of the affected French employees regarding the social measures linked to the closing project of the plant in Argenteuil.
October 13, 2017
US Company Contour Moves European Headquarters from Paris to Vienna
The Vienna-based European headquarters will be the strategic centre for all thermal and renewable energy facilities in Austria, Italy, Czech Republic, Romania, Poland, Slovakia, Bulgaria, Armenia, Spain, Northern Ireland and Ukraine.
December 11, 2015
OSCE States Adopt Declaration Condemning Paris Terrorist Attacks
In a special meeting of the Permanent Council in Vienna to discuss the recent attacks in Paris, the 57 OSCE participating States have adopted a declaration condemning the ‘brutal and indiscriminate’ Paris attacks and recent terrorist atrocities.
November 17, 2015
OSCE Condemns Paris Attacks
The OSCE joined world leaders and other international organizations in swiftly denouncing the attacks. OSCE Chairperson-in-Office and Serbia’s Foreign Minister Ivica Dačić assured France that “all OSCE participating states stand by you at this hour, sharing the belief that no political cause can ever justify such heinous acts.”
November 17, 2015
IAEA's Position and Road-Map Regarding Iran's Nuclear Program
The International Atomic Energy Agency (IAEA) and the Islamic Republic of Iran (Iran) agree, in continuation of their cooperation under the Framework for Cooperation, to accelerate and strengthen their cooperation and dialogue aimed at the resolution, by the end of 2015, of all past and present outstanding issues that have not already been resolved by the IAEA and Iran.
July 14, 2015
Iran Nuclear Deal: Joint Statement by Federica Mogherini and Iranian Foreign Minister
The joint statement by EU High Representative Federica Mogherini and Iranian Foreign Minister Javad Zarif calls on the world community "to support the implementation of this historic effort". "The Joint Comprehensive Plan of Action is a balanced deal that respects the interests of all sides. It is also complex, detailed and technical."
July 14, 2015
Iran Nuclear Deal: Historic Agreement in Vienna
The so-called P5+1 - the US, UK, France, China and Russia plus Germany and the EU have reached a "historic" deal with Iran on limiting Iranian nuclear activity in return for the lifting of international economic sanctions. The deal, known as the "Comprehensive Joint Plan of Action", was signed today in Vienna.
July 14, 2015
Analysis: Austrian Economy Falls Behind Eurozone Average
The latest "Attractiveness Survey" from consultancy Ernst & Young Global Limited shows, that espite strong fundamentals, Austria’s economy lost some ground on the Eurozone average in 2014, with growth of just 0.4% compared with 0.9% for the Eurozone as a whole. This comparative weakness will also continue in 2015, with Austria’s GDP growth estimated at 1.1%, against 1.5% in the Eurozone. This is despite a boost from lower energy prices, quantitative easing from the European Central Bank (ECB) and a weaker euro.
June 1, 2015
FDI: Western Europe Overtakes China and North America, Austria Improved Its Position
Ernst and Young's latest European attractiveness survey has been published. FDI into Europe hits a new record with US$305b attracted into the region in 2014, translating to a 36% year-on-year growth, despite global growth slowdown. UK, Germany and France remain the preferred destinations for foreign direct investment (FDI) within Europe, while Turkey enters the Top 10. Austria improved its position in the ranking by two notches, rising to position 22 of all 44 countries analyzed.
May 29, 2015
Analysis: Crash of Germanwings Flight 9525 - Investigation and Latest Responses
Yesterday Germanwings Flight 9525 from Barcelona to Düsseldorf, an Airbus A320-200, crashed around 100 kilometres (62 mi) northwest of Nice, in the French Alps. All 144 passengers and six crew members died. People on board by nationality were: Germany 67, Spain 45, Kazakhstan 3, Mexico 3, Argentina 2, Australia 2, Colombia 2, Croatia 2, Japan 2, Morocco 2, Belgium 1, Denmark 1, Israel 1, Netherlands 1, Turkey 1, United Kingdom Several (unconfirmed), and unknown 15. The aircraft had reached its cruising altitude, flight level 380 (approx. 38,000 ft [12,000 m]) at 9:27 GMT. Three minutes later the aircraft began its descent - the purpose of the descent is not currently known. 14 minutes after the initial descent, radar contact with the aircraft was lost. Meanwhile the first cockpit voice recorder was recovered by rescue workers and is being examined by the investigation team. The recorder was damaged in the crash, but was said to be still in a "usable" condition. The search for the flight data recorder was to be a priority when the recovery operation resumed. It is the third-deadliest crash of an Airbus A320, after TAM Airlines Flight 3054 and Indonesia AirAsia Flight 8501, and the third-deadliest aviation disaster on French soil, after Turkish Airlines Flight 981 and Inex-Adria Aviopromet Flight 1308. Unusually, the plane appears not to have deviated from its flight plan during its descent.
March 25, 2015 · Updated: March 26, 2015; 14:30
Valneva Completes EUR 45 Million Capital Increase
The listed biotechnology company Valneva SE announces the completion of its capital increase with shareholders preferential subscription rights launched on January 12th, 2015. Valneva estimates net proceeds of EUR 42 millions from 18.2 million offered new shares. The new ordinary shares will be traded on Euronext and on the Prime Market segment of the Vienna Stock Exchange. The financing will mainly be used for the acquisition of Crucell Sweden AB and all assets, licenses and privileges related to Dukoral.
February 4, 2015
Government Debt Increased to 82.6% of GDP in Austria and to 92.7% in Euro Area
At the end of the second quarter of 2014, the government debt to GDP ratio in the euro area (EA18) stood at 92.7%, compared with 91.9% at the end of the first quarter of 2014. Austria's government debt rose to 82.6 percent of GDP in Q2 2014 from 81.3 percent in Q1.
October 23, 2014
Cost of Living Rankings: CEE Capitals Cheaper, Vienna is 32nd Most Expensive City
The Mercer's 2014 Cost of Living Rankings have been published and cover 211 cities across five continents. While Western European cities have all risen in the rankings mainly due to the strengthening of the Euro against the US dollar, most cities in Central and Eastern Europe (CEE), however have fallen in the ranking as a result of local currencies depreciating against the US dollar. Bratislava (#84), Prague (#92), Kiev (#98), Ljubljana (#116), Zagreb (#120), Budapest (#135), Warsaw (#142), Belgrade (#184).
July 25, 2014
“Romania Can Never Become the China of Europe”
Stabilization in Central and Eastern Europe (CEE) is becoming stronger. However, the political crisis in Ukraine is causing a feeling of insecurity among the population.
May 15, 2014
Nexans to Build Plant in Bulgaria
According to the Bulgarian Economy Ministry, French cable car constructor Nexans will establish a plant employing 600 persons.
May 12, 2014
CEE: Surge in Sales for French Lafarge
The French building material group Lafarge saw a strong increase in sales in Romania and Eastern Europe in general.
May 9, 2014
Michelin to Downsize in Hungary
French tyre producer Michelin announced to shut down ist tyre plant in Budapest and relocate to Romania.
May 9, 2014
Situation for Austrian Banks in Russia is “Sensitive”
According to the latest statistics, Austrian banks are considerably more engaged in Russia than assumed so far. Debts to domestic financial institutes amount to € 50bn.
April 29, 2014
Poland: BNP Paribas Bank Polska Hopes for Higher Profits
Because of the merger with BGZ Bank BNP Paribas Bank Polska, the Polish branch of the French financial giant, expects a growth of return on equity (ROE) in the double-digit figures.
April 24, 2014
Struggling Insurance Industry
Despite favorable results last year the European insurance market has to face a number of adverse factors.
April 23, 2014
Austria: Fitch Warns Banks of Risk with Business in Russia
The menacing sanctions against Russia with regard to the political crisis in Crimea could become a severe danger for Austrian banks.
April 1, 2014
Austrian Banks with Significant Exposure in Ukraine
Ukrainian crisis hits Western Banks in different state compared to 2008/09, according to RBI.
February 27, 2014
CEE: Insolvencies Declining But Larger Effect
The number of insolvencies in Central and Eastern Europe (CEE) is declining. However, the individual insolvencies are becoming larger, as reported by French credit insurer Coface.
January 23, 2014
Bank Austria Generates Fresh Capital
On Monday, January 13, UniCredit Bank Austria issued its first mortgage bond for 2014 to strengthen its capital base.
January 14, 2014
European Union: Private Trading of Banks to be Restricted
The European Union intends to severly restrict risky private trading of banks.
January 7, 2014
No Major Progresses in Banking Union
Tuesday night the Finance Ministers of the European Union have gradually approached on the outstanding issues in the handling with banks threatened by bankruptcy.
December 11, 2013
Hungary: Economic Acceleration Takes Form
According to French BNP, the Hungarian economy starts to grow again. Nevertheless, the banking industry does not face better times yet.
November 29, 2013
Austrian Banking Sector: NPL at Eurozone´s Top
In the Eurozone, the non-performing loans are still growing. In total, 7.8% of the loan portfolio is risky. Austrian banks are significantly above the average.
October 30, 2013
Eurozone: Economy Starting to Grow
Experts at Ernst&Young; forecast economic growth of 0.9 percent in 2014 in consequence of an improved global economic performance.
October 21, 2013
Austria Remains Main Investor in Slovenia
Last year, almost the half of the foreign direct investments in Slovenia came from Austria.
October 11, 2013
Austria: Weak Growth Impulses
Today, the Austrian Institute for Economic Research (Wifo) has corrected the economic outlooks for Austria downwards. Growth impulses have been very weak so far.
September 10, 2013
Erdogan Considers Leaving U.N.
Turkey´s Prime Minister Recep Tayyip Erdogan puts pressure on the United Nations. The representation of the Security Council is not balanced, Erdogan criticizes.
August 26, 2013
Eurozone: Strongest Growth Rates in Two Years
The Eurozone continues to recover. Businesses in industrial production and in the service sector increased to a new high in more than two years. However, growth in both sectors is still not enough for the creation of new jobs.
August 22, 2013
Czech Republic to Crawl out of Recession
In the second quarter the Czech economy grew by 0.7 percent compared to the first quarter.
August 15, 2013
End of Recession Supports Stock Exchanges in Europe
The Eurozone seems to have finally left recession behind. This is one of the reasons why markets closed trades with a plus on Wednesday.
August 15, 2013
Romania: Significant Drop in Purchase Power
General consumption climate is unfavorable in Europe at the moment.
August 12, 2013
20,000 Bank Shops Have Closed Since Beginning of Crisis
60 percent of the costs in the business with private clients are caused by bank shops. Still, banks are hesitant to close them as they fear the loss of long-term clients.
August 12, 2013
Moody´s Downgrades Austrian Verbund
The rating agency lowers the rating of the Austrian energy group from „A3“ to „Baa1“.
August 2, 2013
Austria: Verbund to Take Austerity Measures
Only a few months ago, CEO of Verbund Wolfgang Anzengruber promised that “2013 will become the best year in the company’s history”. However, there have been bad news for the energy company ever since.
August 1, 2013
Gazprom Runs Risk Of Losing Leading Position
Currently, only state-controlled energy giant Gazprom is permitted to export gas. Due to cooperations with French Total and Chinese enterprises, Moscow now intends to open the market.
July 9, 2013
Bolivia: “We Don’t Need a US Embassy“
Bolivian President Morales is still infuriated over the flight incident and considers closing of US embassy in La Paz. He is supported by his counterparts from Venezuela and Ecuador.
July 5, 2013
Vienna: Bolivian President Allowed to Continue Journey
Bolivan President Evo Morales had to land in Vienna after several European countries – among them Spain, France and Portugal – refused the right to overfly.
July 3, 2013
Turkey Becoming Important Global Investor
According to the latest survey by UNCTAD, Turkey has become an important investor.
June 28, 2013
Borealis to Invest EUR 65 Million in Porvoo Borstar PE Plant
Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, has announced a major upgrading project at its production site in Porvoo, Finland.
June 28, 2013
Polish Road Authority As Tardy Payer
Prime Minister Tusk seems unimpressed about ambassadors from six countries filing a complaint.
June 19, 2013
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