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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
World Competitive Ranking: Austria Loses 7 Ranks
The World Competitive Ranking of Lausanne IMD Private School of Economics has become one of the most significant location comparisons on an international basis in the last 25 years.
May 29, 2013
Czech Republic: Russia to Offer Significant Investments in Return for Temelin Tender
Czech Prime Minister Necas emphasized on the transparency of the decision.
May 28, 2013
Turkey: Next Step Towards EU
According to Reuters, Turkey can now hope for its long-awaited next step towards an EU entry in June. France has lifted its opposition to the country’s EU Accession talks. Experts point out the great economic potential the country offers.
May 28, 2013
FCC Wants Guggenheim Partners As Financial Ally
With debts having amounted to more than € 8bn, Spanish parent company of Alpine is now looking for potential financial partners.
May 24, 2013
Main Investors at CEE Stock Exchange Group from US
Institutional Investors and the CEE Stock Exchange Group in 2012.
May 13, 2013
Istanbul to Receive € 22bn for World's Largest Airport
Today, a Turkish construction consortium has secured itself a record sum of around € 22bn for the contract of the construction of the world’s biggest airport in Istanbul.
May 3, 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
Serbia: Vucic „Deeply Disappointed“
Serbian First Deputy Prime Minister Aleksandar Vucic has given up hope for a new date in June for the beginning of EU accession negotiations. Russian Prime Minister Medvedev expressed support.
April 11, 2013
Bad Outlook for Slovenia’s Economy
Slovenia receives bad marks in a report by the EU Commission. Together with Spain, Slovenia’s economy is endagered to collapse in case measures will not be made in the next few weeks.
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
Austrians Poorer Than Italians or Spaniards?
According to a study carried out by the German Central Bank (Bundesbank) assets of private households in Austria is less than in Italy or Spain.
March 22, 2013
Cyprus: Negotiations About “Plan B“ Today
After days of negotiations in Moscow, Cyprian Finance Minister had to return empty-handed. Talks about “plan B” will continue today.
March 22, 2013
Poland Underlines Necessity of Cohesion Funds
At the EU summit, Poland wants to secure as much cohesion payments in the next multiannual financial framework from 2014 to 2020.
February 7, 2013
Borealis to Acquire Outstanding Shares of TOTAL Affiliate GPN SA
Borealis, an Austrian provider of chemical and innovative plastics solutions, has made a firm offer to TOTAL to purchase all outstanding shares of GPN SA, France’s largest nitrogen fertilizer manufacturer.
February 7, 2013
Immofinanz Continues Sales in Vienna
The Austrian real estate company continues the implementation of its real estate sales programme. Besides that, Immofinanz decides to leave France.
February 4, 2013
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