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Germany

EU Countries to Use Ukrainian Gas Storage Facilities

EU Countries Show Interest in Ukraine’s Gas Transportation System

April 19, 2013

Sberbank Europe AG Appoints Igor Strehl to Management Board

Igor Strehl moves from Management Board of VTB Bank to Sberbank Europe.

April 19, 2013

Germany: New Building for Brandenburg by STRABAG

Agreement on the financing, planning, construction and operation over 30 years of an office building in the state capital of Potsdam. Project value € 82 million

April 19, 2013

Forbes: “Austere Baltic States Outgrow Their European Neighbors”

Forbes magazine has dedicated a comprehensive article about how the Baltic countries manage to conquer the financial crisis.

April 17, 2013

Russia: Most Important Future Market for Opel

Head of General Motors, Dan Akerson, regards Russia as the most important future market for Opel.

April 15, 2013

Austia: Stable Industrial Production

Austrian industrial enterprises are particularly concerned about the future. The order situation was stable last year, however, only because of domestic orders. Sales in exports are still decreasing.

April 12, 2013

Major Project for Alpine In Berlin

Alpine to build 345 appartments in Berlin. Building permission of € 56m project was announced yesterday.

April 12, 2013

FDI: Hungary Popular With German Enterprises

The majority of German companies would again choose Hungary for their investments

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

Household Assets in Austria Lower Than in Spain

The proportion of owned homes in Austria and Germany is below 50 % and one of the reasons why household assets are on the lower end of the scale.

April 10, 2013

Fitch: Poland Best Placed For Economic Recovery

In a statement regarding a report on the need of structural reforms in the CESEE region, rating agency Fitch awarded Poland the best position for an economic recovery among five countries.

April 9, 2013

Russia to Contribute to Cyprus Aid-Package

President Vladimir Putin has announced that Russia will contribute to rescue-package for Cyprus.

April 8, 2013

How Austrian Airlines Intends to Soar Again

In an interview with the Austrian newspaper Presse, Jaan Albrecht, head of Austrian Airlines explains why he had to carry out sudden drastic measures and what the future of the airline should look like.

March 29, 2013

Cyprus: No Bank Run

The feared bank-run after the almost two-weeks long closing of the banks in Cyprus has not occured.

March 29, 2013

Czech Republic: Disinflation Continues

Analysts expect Czech economy to grow by 1.7 % next year.

March 29, 2013

Austria: Tax Burden Lessens With Higher Income

According to an OECD study only three industrialized nations (Austria, Germany and Spain) show a degressive tax system.

March 26, 2013

Ukraine and Deutsche Bank Signed Agreement

In order to finance the reconstruction of gas transportation system of Ukraine last year a loan agreement between the Ukrainian "UkrTransGas" subsidiary company "Naftogaz of Ukraine" and Deutsche Bank was signed.

March 26, 2013

Roiss: “A European Concept and Joint Investments Are Needed“

In an interview with the Austrian newpaper Kurier, CEO of OMV explains why Europe needs other sources of energy and why there is a growing competitive disadvantage compared with the USA.

March 25, 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

CA Immo: „Results Would Have Been Perfect“

CEO of CA Immo, Bruno Ettenauer, proclaims that without devaluations the real estate company had to make the end results for 2012 would have been “perfect”. Now, CA Immo considers withdrawing from non profit-making markets.

March 21, 2013

Austria Showing Less Reforming Zeal

According to the so-called „D-A-CH-Reformbarometer“, a study which was commissioned by the Chamber of Commerce, Austria’s will to reform has diminished.

March 20, 2013

CA Immo: Major Drop in Profits

On Tuesday evening, CA Immo published the annual figures for 2012. The market-listed real estate company shows profits of € 48.6m which means a decrease of 28 %.

March 20, 2013

Cyprus Appeals for Help to Russia

In a vote on Tuesday the government has decided not to use the private money of Cyprus‘ citizens to help bail out the banks. After the rejection, the EU aid package is now off. Cyprus hopes rest on Russia at this point.

March 20, 2013

Russia: Gazprom Runs the Risk of Losing Market Shares

According to the newspaper “RBC Daily”, Gazprom stands to lose a further market share for gas supply as German energy enterprises are prompting the government to start producing shale gas.

March 19, 2013

Bank Austria Takes Drastic Measures

Because of selling the Kazakhstan division and bad credits, quarter losses of € 553m for parent company UniCredit have to be faced.

March 16, 2013

Meeting of German-speaking Finance Ministers in Berlin

On Wednesday, 13 March 2013, German Finance Minister Dr Wolfgang Schäuble welcomed the German-speaking Finance Ministers of Europe to talks in Berlin. The talks focused on current finance and fiscal policy issues.

March 15, 2013

Hungary: Number of Emigrants to Austria Increases

More and more Hungarians emigrate to Austria due to economic and political reason.

March 14, 2013

Austrian Airlines Records Profits

Due to one-time effects, the Austrian subsidiary of Lufthansa returns to the profit zone. Austrian Airlines expects the final turnaround in 2013.

March 14, 2013

Austrian Banks to Stay in Hungary

In the coming years, foreign banks will face a difficult market environment in Hungary. Nevertheless, Austrian banks want to maintain their position.

March 14, 2013

Austria: New Head of Division for Magna

Former head of Opel, Karl-Friedrich Stracke, is going to assume the automotive engineering division at Magna in Steyr, Austria.

March 12, 2013

Austria: Hypo Group Still Sailing in Stormy Waters

Hypo Group wants a fast selling until the end of 2013. Vending of Italian and CESEE subsidiaries could take longer as the economic situation is not appealing at the moment.

March 12, 2013

Austria: Nationalizing Hypo Group Prevented BayernLB from Losses

EU Competition Commission pushes the Austrian government to shut down the loss-making Hypo Group.

March 11, 2013

Hungary: Demonstrations in Budapest

Protests against the planned constitutional amendmends took place on Saturday, March 9. US and EU express their concern about the political developments.

March 9, 2013

Lithuania: Exports Decreased by 7.6 % in January

Foreign trade in January 2013 decreased. Major losses in Agricultural sector.

March 8, 2013

Austria: Increase Of Foreign Trade

Even with the economy crisis, the percentage of foreign business expands.

March 8, 2013

Bulgaria/Romania: Schengen-Entry Postponed

The two countries will not become part of the Schengen-zone in 2013. EU interior ministers meet to discuss problem of “social tourism”.

March 7, 2013

Austria: Hypo Managing Board Warns of Losses

Hypo Group’s managers fear that selling the bank precipitately might lead to additional losses up to € 5bn for the bank and federal state.

March 7, 2013

Austria: Insurance Company Allianz Gains Profits

Allianz Austria was able to continue its upward trend and gained around 20,000 new customers in 2012.

March 5, 2013

Romania/Bulgaria: Germany Plans Veto against Schengen Entry

According to the journal “Spiegel”, the German government does not regard the two countries as Schengen-worthy.

March 4, 2013

T-Mobile Austria Not for Sale

German T-Mobile emphasizes that the Austria subsidiary will not be sold. T-Mobile Austria has been stagnating for years.

March 2, 2013

BayernLB Rejects Settlement with Hypo Group

The German banking group and its former Austrian subsidiary do not reach a compromise. BayernLB wants Hypo Group to repay a loan of € 2.3bn.

March 2, 2013

Does the Hungarian Telecommunication Sector Face Nationalizations?

According to rumors, Hungary´s government plans to nationalize the Hungarian subsidiary of the telecommunication operator Vodafone.

March 2, 2013

T-Mobile: Profitability Deteriorates

The Austrian subsidiary of Deutsche Telekom suffers from declining turnover and EBITDA figures.

February 28, 2013

Austria Become Second Most Important Trading Partner for Hungary

Last year, only the foreign trade volume between Hungary and Germany was higher. Peter Szijjarto, spokesman of Prime Minister Viktor Orban´s party Fidesz says.

February 23, 2013

Austrian Business Location Still Popular

According to a survey carried out by ABA Invest Austria, Austria ranks third in Europe.

February 19, 2013

Immofinanz Withdraws from the Tender for GBW AG

The Austrian real estate group has withdrawn its non-binding offer for the purchase of the tendered shares in GBW AG, Munich, and informed the seller, Bayerische Landesbank, of this decision on 13 February 2013.

February 13, 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

Austria´s Economic Situation Is „Unfavorable“

Today, the German economic research institute ifo has published a report on the economic outlook in the Eurozone.

February 6, 2013