Germany

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

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

Austria Records Highest Unemployment of All Times

With 410,000 job-seekers, unemployment has never been higher. Nevertheless, Austria has the lowest unemployment quota in the EU.

February 1, 2013

Bayerngas Leaves Nabucco

The German natural gas company does not want to join the pipeline project.

January 28, 2013

Immofinanz: New Projects in Berlin

Purchase of a 3,000 sqm property for the realisation of 100 flats in the Charlottenburg-Wilmersdorf district of Berlin. 1,500 new flats in Berlin in construction or in planning.

January 21, 2013

Hungary Wants Tax Treaty with Switzerland, Germany and Austria

Hungary tries to levy a lump sum tax on deposits of Hungarian nationals in Switzerland, Germany, Austria, the UK and Cyprus.

January 17, 2013

OeNB Does Not Bring Gold Reserves to Austria

Unlike Deutsche Bundesbank, the Austrian National Bank (OeNB) does not transfer the gold reserves from London back home.

January 17, 2013

CA Immo to Focus on Germany and Austria

Following years of rapid expansion in Germany and Eastern Europe, CA Immo is adjusting the focus of its real estate portfolio to existing core markets and the offices asset class.

January 17, 2013

Austria: Regional Energy Providers Invest Massively in Renewable Energy

In 2013, the regional energy supplier Energie AG wants to invest € 180m. The Vienna-listed EVN group intends to increase its renewable energy portfolio by € 800m until 2020.

January 16, 2013

Euro Exchange Rate: Nowotny Contradicts to Juncker

According to Eurogroup-chief Jean-Claude Juncker, the exchange rate of the euro is “dangerously high”. Nowotny disagrees with Juncker.

January 16, 2013

Benko Establishes Joint Venture with Israeli Investor

The Austrian real estate investor René Benko has found a partner. The joint venture will focus on commercial properties in Germany.

January 16, 2013

Austrian Federal Competition Authority Approves Verbund´s Deal in Turkey

The Austrian energy group Verbund sells its stake in the Turkish joint venture Enerjisa to German E.ON. In return, Verbund gets E.ON´s hydro power plans in Bavaria.

January 11, 2013

Klaus Meets Merkel

Czech President Vaclav Klaus wants to persuade Merkel to stop the integration process in the EU.

January 10, 2013

BUWOG to Strongly Expand Business in Berlin

Germany remains motor of growth for the Austrian real estate company. The subsidiary of Austrian Immofinanz acquires properties with 34,500 m² total space for 520 flats.

January 10, 2013

EU Accession: Turkey Shows Self-Confidence

Turkey puts further pressure on Brussels. Until 2023, Turkey wants to become a EU member country.

January 4, 2013

Austrian Signa Holding Acquires „KaDeWe“ in Berlin

The Austrian real estate group Signa Holding acquired 17 shopping centers in Berlin. In total, the sales price comes at € 1.1bn.

December 22, 2012
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