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Buwog Soon to be Listed at Three Stock Exchanges
Immofinanz‘ residential real estate affiliate Buwog will celebrate its IPO at the stock exchanges in Frankfurt and Vienna on Monday, April 28 and in Warsaw on Tuesday, April 29.
April 24, 2014
Austria: Branch Network of Raiffeisen Shrinking
Because of the high number of mergers, the number of branch shops of Raiffeisen Group is dropping. However, the Austrian lender still has a market share of 43 percent.
April 18, 2014
Austria: RLB OÖ Still Threatening to Leave
According to managing director of Raiffeisenlandesbank Oberösterreich (RLB OÖ) Heinrich Schaller, the tax burden is too high in Austria. The bank is still threatening to leave for Germany if the bank levy will not be changed.
April 17, 2014
Conwert to Leave Germany?
A consortium of investors is highly interested in the German subsidiary of the Austrian real estate group. The consortium is led by conwert´s former board director Johannes Meran.
April 16, 2014
Industrial Location Austria Losing Attractiveness
Among other things, labor costs and energy prices are too high, according to the Austrian Federation of Industries.
April 16, 2014
Austria: RLB OÖ Rows Bank on Threat to Leave
Last year regional lender RLB OÖ (Raiffeisen Landesbank Oberösterreich), part of Raiffeisen group, saw a decline of six percent in its balance sheet totals while the operating results increased by almost three percent.
April 16, 2014
Massive Dispute at Conwert
The Austrian real estate group faces troubles: representatives of small shareholders want to join the administrative council. Major shareholder Hans Peter Haselsteiner wants to dispatch his own representatives.
April 15, 2014
Serbia’s Goal to Join EU until 2020 “Realistic”
According to former German Chancellor Gerhard Schröder, Serbia’s aim to become a member of the European Union until 2020 is realistic.
April 11, 2014
Moldova: Urgent Call for EU-Membership
Getting out of the zone of uncertainty and instability, this is the aim of the Moldovan Prime Minister Iurie Leanca.
April 10, 2014
Austria: Hypo Group’s Investigation Committee Ready for Action
The group of foreign experts at the investigation commission for Hypo Group Alpe Adria is supposed to guarantee the required objectivity. The first results are expected to be published at the end of the year.
April 10, 2014
Erste Group to be Relocated to the Czech Republic?
CEO of Erste Group, Andreas Treichl, has informed Czech President Milos Zeman about the bank’s intention to move to Prague in the coming years.
April 9, 2014
Poland: Growth Forecast Raised Again
The International Monetary Fund has raised the forcast of GDP growth in Poland.
April 9, 2014
Hypo Group too Expensive for BayernLB
According to an official expert, regional German lender BayernLB’s fatal decision to take over Hypo Group Alpe Adria was based on questionable company evaluations.
April 7, 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
Hypo Group: „We Are not the Only One Who Must Pay“
Austrian Minister of Finance Michael Spindelegger underlines that the Austrian taxpayers are not the only ones who must bear the losses of the nationalized lender Hypo Group Alpe Adria.
April 5, 2014
Wealthy Investing in Real Estates in Vienna
Vienna is considered a “safe haven” for real estate investments. In particular, luxury homes, such as the Palais Principe for instance, are more than attractive for wealthy investors.
April 4, 2014
Hungary: OTP Approaches Acquisition of MKB
MKB, the Hungarian loss-making affiliate of German regional lender BayernLB, is approaching its acquisition by the biggest lender OTP.
April 3, 2014
Oberbank: Slow Expansion Strategy to be Continued
The Austrian regional bank starts to enter the stage in two German states. The net income has reached a new record level.
April 2, 2014
Austria: Spindelegger Expects Significant Increase of Deficit
According to the Finance Minister, the consequences of the Hypo-disaster are “dramatic”. However, he does not see a danger of deflation.
April 1, 2014
Hypo Group: Settlement Rejected by BayernLB
The majority stockholder of BayernLB, the former parent company of Hypo Group Alpe Adria, is not willing to negotiate about a settlement with the Austrian problem bank.
April 1, 2014
BayernLB: “Odd“ Sponsoring Contracts in Carinthia
Former managers of the German regional bank are under suspicion of having bribed then-governor of the Austrian province of Carinthia.
March 31, 2014
Serbia: Program for New Government in Progress
The future government will have to implement extensive reforms. Vucic, whose party saw a landslide victory in the parliamentary elections, is working on the government’s program.
March 26, 2014
Poland: Good Starting Point for Economic Growth
Economic growth for 2014 is expected to accelerate to 3.1 percent to 3.2 percent in the first quarter while for the full year it is anticipated to come at 3.5 percent, according to Polish Economy Minister Janusz Piechocinski.
March 26, 2014
BayernLB Threatens Hypo Group with Damage Claims
BayernLB, former parent company of Hypo Group Alpe Adria International, is threatening to claim damages from its former affiliate.
March 26, 2014
Poland: Promising Years Ahead
Poland observes the crisis in Ukraine with great concern, but does not forget to upgrade national resources.
March 25, 2014
Austria: Opposition Criticizes Nationalization
On Thursday Finance Minister Michael Spindelegger expects a binding statement by ailing bank Hypo Group Alpe Adria about how much state aid will be required. The opposition heavily criticizes the nationalization by the Austrian state in 2009.
March 20, 2014
Austria: Reform Steps Very Modest
Austria, along with Germany and Switzerland, hardly put any economic reforms into realization. This is the conclusion of the annual “reform barometer” for the three countries.
March 20, 2014
CA Immo: Considerable Drop in Net Income
Financial results 2013: CA Immo achieves record operating result. Balance sheet strengthened, Net Asset Value up 6%.
March 19, 2014
BayernLB: “We Were Brazenly Betrayed by Austria"
CEO of BayernLB Gerd Häusler claims the German bank and former parent company of nationalized Hypo Group Alpe Adria accuses Austria of having taken the law into its own hands.
March 18, 2014
Hypo Group Redeems Loan
Even though the Austrian nationalized Hypo Group urgently needs state aids to get by bondholders will be compensated for their investments.
March 17, 2014
Austria: Spindelegger Puts Pressure on BayernLB
In the dispute with BayernLB, former parent company of problem bank Hypo Group Alpe Adria, Finance Minister Michael Spindelegger calls for a tougher approach.
March 17, 2014
Immofinanz: Buwog’s Spin-Off Approved
In an extraordinary shareholder meeting, the spin-off of residential real estate affiliate of Immofinanz was approved by the shareholders.
March 14, 2014
DiTech: Insolvency Postponed
Heavily affected computer equipement trader DiTech has to postpone filing for insolvency proceedings, which was planned today at the Commercial Court in Vienna.
March 14, 2014
Hypo Group: Decision Has Finally Been Made
The government has finally made a decision. Ailing Hypo Group Alpe Adria will be downsized through a private bad bank.
March 14, 2014
Austria: DiTech to be Taken Over by Investor
Insolvent computer equipment trader DiTech is supposed to be taken over by a German investor with Polish roots.
March 13, 2014
Hypo Group: Insolvency Still an Option?
The group of international advisors appointed by the Austrian government seems to have come to a different conclusion than the task force of Hypo Group Alpe Adria.
March 12, 2014
Austria: Prices for Luxury Real Estates Soaring
The prices for luxury real estates in Austria continue to increase.
March 10, 2014
Hypo Group: Further State Aid Necessary This Year
Finance Minister Spindelegger fears that nationalized problem bank Hypo Group Alpe Adria will require further state aids for its downsizing still within this year.
March 10, 2014
Austria: Spindelegger Still Does Not Exclude Hypo’s Bankruptcy
In an interview with daily “Österreich” Finance Minister Michael Spindelegger announced his intention of very carefull examining the task force’s final report about ailing bank Hypo Group.
March 8, 2014
Austria: Hypo Group’s Final Report Eagerly Awaited
The eagerly awaited final report of Hypo Group’s task force is supposed to be presented to the government this weekend.
March 8, 2014
Austria: “Taxpayers Have to Bleed for Hypo Group“
Franz Schellhorn, head of think tank Agenda Austria, told “Handelsblatt” in an interview that having delayed the issue of Hypo Group was a fatal mistake by the Austrian government. He points out the consequences of the disaster.
March 7, 2014
Austria: Controversies Around “Council of the Wise“
Finance Minister Spindelegger claims the appointing of the “Council fo the Wise” for problem bank Hypo Group Alpe Adria was the idea of Chancellor Faymann.
March 4, 2014
Austria: Unemployment Rate Rises Once Again
Once again the unemployment rate in Austria saw a significant rise. More than 440,000 persons were registered jobsless in February.
March 3, 2014
Austria: Solid Growth and Recovery in Industrial Industry
Austria’s industrial recovery continues.
March 3, 2014
Hypo Group: Risk Identified Already in 2009
Three months after a report on the risk and susceptibility to fraud of Hypo Group’s leasing affiliates was published by PwC, ailing Hypo Group was nationalized.
March 3, 2014
Hypo Group: “Worst Thing If Government Does Not Make Decision”
According to Felderer, President of the Fiscal Council, a downgrade in the country rating must not be taken “too seriously”.
February 28, 2014
Hypo Group: New Figures Added to Number Games
The number games in regard to Hypo Group’s downsizing to not seem to cease. New figures will be released by the bank’s task force at the beginning of next week.
February 27, 2014
Hypo Group Insolvency to Cost € 10bn at Least
Taxpayers in Austria would be burdened with at least € 10bn if Hypo Group was sent into insolvency.
February 26, 2014
Austria: National Assembley Rejects Investigation Committee
The parliamentary investigation committee for Hypo Group, demanded by the opposition parties, was rejected in a roll-call vote in the National Assembley.
February 26, 2014
Austria: Hypo Group Council to Strain Budget Even More
The Finance Ministry will appoint an international consulting team for the downsizing of nationalized problem bank Hypo Group Alpe Adria. However, costs are increasing dramatically by this step.
February 25, 2014
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