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Citizens from CEE Major Benefit for EU
A current paper published by the OECD shows that the European Union benefits from migration of Eastern European citizens as they compensate imbalances in the labor markets.
January 15, 2014
Property Market: Vienna More Attractive than Berlin or Munich
Compared to German metropolises, the Viennese property market has still a significant upside potential. Nevertheless, the office market in Vienna is expected to stagnate in the next few years.
January 15, 2014
CA Immo: Operating Performance above Expectations
CA Immo: Strong performance in 2013 boosts profitability and share price development.
January 14, 2014
Nowotny Sees Growth Potential in Eurozone and CEE
According to Ewald Nowotny, governor of the Austrian National Bank (OeNB), the outlooks for economic upturn in the Eurozone and Central/Eastern Europe have improved significantly compared to only a year ago.
January 14, 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
RBI Expects Growth to Accelerate in 2014
2014 marked by growth recovery, according to RBI Research.
January 9, 2014
Poland: On Path of Recovery and Growth
The Polish economy has been growing steadily since the beginning of 2013. However, budget deficit slightly exceeded forecasts.
January 7, 2014
Hungary: MKB Bank Sells Romanian Subsidiary
As announced in a statement Hungarian MKB Bank has sold its entire stake of its Romanian subsidiary.
January 3, 2014
Austria: Personnel Changes at Immofinanz
Daniel Riedl succeeds Alexander Hoff as spokesman of the BUWOG Management Board.
January 3, 2014
CEE: Economic Sentiment Cautiously Optimistic
The economic sentiment for Eastern European countries is becoming more optimistic, however, only cautiously. Poland is on top of the list of economists at JP Morgan.
January 2, 2014
Austria: Hard Times for Regional Banks
Not only large banks are under pressure. In 2014, Austrian regional banks expect enormous challenges to deal with.
December 31, 2013
Austria: Kapsch Delivers Warning to Policy-Makers
Georg Kapsch, President of the Federation of Austrian Industries (IV), is very cautious about economic growth in Austria and warns the policy-makers of a budget consolidation on the basis of expectations of growth.
December 27, 2013
Austria Bought Time for Examining Hypo Deal
Austria was granted more time for a possible appeal of the purchase of problem bank Hypo Group Alpe Adria from former parent company BayernLB.
December 23, 2013
Austrian and Germans Offered Most for Bulgarian Schuldschein
Average interest rates for Bulgarian Schuldschein loan range between 3.4 to 4.6 percent. Austrian and German investors offered most of the € 290m loan.
December 23, 2013
Austria: Rules for Bank Tax to Be Changed
The governing parties call for changes in the bank tax which would increase the burden of some Austrian banks.
December 20, 2013
Buwog's Spin Off More Likely than IPO
Immofinanz plans on increasing the portfolio of its affiliate Buwog, which focuses on residential real estate, by acquiring a volume of 18,000 apartments in Northern Germany.
December 19, 2013
Wifo: Sluggish Growth Because of Weak Consumption
According to Wifo’s (Austrian Institute of Economic Research) prognosis for the coming years, economic upturn in Austria will remain flat because of weak consumption.
December 19, 2013
Hypo Group: Take-Over Almost Completed
British-Indian Anadi Financial Holding had to wait for months until the take-over of Austrian Hypo Group Alpe Adria was approved.
December 18, 2013
Austrian Banks: “Less than No Interest” in Bad Bank Participation
According to Felderer, Austrian major banks have “less than no interest” in a participation of a Hypo Group’s bad bank.
December 17, 2013
CA Immo Sells Mercedes Headquarter
CA Immo sells the German heardquarters building for Mercedes-Benz in Berlin to Union Investment
December 17, 2013
Austria: Fate of Hypo Group Still Unclear
Only next year the fate of ailing bank Hypo Group Alpe Adria will be determined.
December 16, 2013
BayernLB to Keep Hungarian MKB Unit
BayernLB’s plans to seperate from loss-making Hungarian affiliate MKB were not put on hold. Instead, the German bank wants to continue to push forward with austerity measures and cut jobs.
December 14, 2013
Capital Injection for Hypo Group Approved
In the general assembley of Hypo Group the path was cleared for a further capital injection in the amount of € 800m.
December 13, 2013
Austria: Hypo Group Insolvency Best Solution for Taxpayers
According to consulting agency Oliver Wyman, an insolvency of ailing bank Hypo Group would be the most favorable option for taxpayers as instead of domestic banks foreign banking institutes will be burdened.
December 12, 2013
CA Immo to Construct New Office Building in Berlin
Europacity Berlin: Rental and start of construction for new office building in Berlin
December 12, 2013
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
S Immo AG: Disposal Target for 2013 Exceeded
S Immo sold a further five properties.
December 11, 2013
Former Kazakh Embassador Facing Trial in Austria
Rachat Alijew is facing prosecution in Austria because of alleged money laundering. Moreover, a former Austrian Chancellor is suspected of spying.
December 10, 2013
Poland: Interest Rate to Remain at Record Low
In the first half of 2014, the National Bank of Poland (NBP) will not alter the reference rate, economists say.
December 10, 2013
EU/CESEE: Real Income Shrinks
In 2013, the real income will do down in Austria. Since 2010, the Austrian real income was down by 1.3%. In Hungary, real income fell by 15% in that period.
December 9, 2013
OTP Interested in MKB
Sandor Csanyi, CEO of the largest Hungrian lender OTP, considers taking over the rival MKB.
December 9, 2013
Austrian FDI Worth Less than in 2003
Due to the financial crisis after 2008, foreign investments of Austrian investors have lost in value dramatically.
December 7, 2013
Hypo Alleged of Having Hoarded Assets of Former Serbian Regime
A Serbian NGO suspects assets of former Serbian President Slobodan Milosevic at Hypo Group Alpe Adria. The Austrian bank strongly rejects this allegation.
December 6, 2013
CA Immo Closes Sale of Hesse Portfolio
The closing of the sales transaction is completed.
December 6, 2013
Austrian Insurance Companies to Grant Credits
The Financial Market Authority has given green light to Austrian insurance companies for handing out loans. Insurers hope for an improvement in investment income.
December 4, 2013
Austria: Insolvency of Hypo Group Still an Option
Both the center of government and the Austrian National Bank (OeNB) reject Hypo Group’s bankruptcy. However, insolvency options are currently being assessed by the Finance Ministry and the Federal Law Office.
December 4, 2013
Sevelda: „We Are Close to the Breaking Point“
In a guest comment published by the Austrian business magazine Format, CEO of Raiffeisen Bank International Karl Sevelda refers to the high burden for Austrian banks.
November 29, 2013
Germany Claims Key Positions at EU Banking Regulator
The German federal government claims one key position in the European banking regulator.
November 28, 2013
New CEO at conwert
Today, the Austrian real estate group has presented its new chief executive officer to the public. As of February 1, Clemens Schneider will manage conwert.
November 27, 2013
EU Financial Transaction Tax to Become a Flop?
Experts do not expect the financial transaction tax to become effective next year.
November 27, 2013
Immofinanz to Enlarge Buwog’s Portfolio
Austrian real estate company Immofinanz plans on acquiring a large portfolio in Germany. The purchase price of around € 900m is supposed to be raised by the company itself.
November 26, 2013
WKO: Better Framework Conditions for SMEs
Small and medium sized enterprises (SMEs), with between 10 to 249 persons employed, are a driver of the European economy, creating jobs and contributing to economic growth. WKO calls for better framework conditions for SMEs.
November 26, 2013
Hypo Investigations Could Last Several More Years
Yesterday the first court proceeding at the Regional Higher Court in Munich started. Investigations in Austria will take up to four years.
November 26, 2013
Germany: Austrian Real Estate Enterprises under Pressure
Austrian real estate companies have invested hundreds of millions Euros in apartments in Germany since yields are around 30 percent higher; however the German government plans on putting a hold to the upward trend.
November 25, 2013
BayernLB Lodges Claim of Almost € 5bn
The value in dispute in the legal discussions between German BayernLB and fromer affiliate Hypo Group Alpe Adria runs up to almost € 5bn.
November 25, 2013
Eurozone: Nouy New Manager of ECB’s Banking Suvervision
Daniele Nouy will become the new head of the ECB’s banking supervision.
November 21, 2013
Buwog Aquires Portfolio in Berlin
Buwog has once more acquired apartments at the German real estate market.
November 20, 2013
Hungary: Banks Penalized for Lobbying
The Hungarian competition authority GVH has imposed a penalty running in the millions on domestic and foreign banks.
November 20, 2013
Austria: High Tax Country
According to the new tax report of PrinceWaterhouseCoopers (PwC), the tax burden in Austria is ten percent higher than the average tax rate in the European Union and even beats Sweden.
November 19, 2013
Banking Union: No Progress
The EU countries could not agree on a common bank resolution mechanism yet. Once more, the pressure on Berlin is growing.
November 16, 2013
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