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Germany

Erste Bank takes over Intermarket Bank

With the acquisition of the Polish subsidiary of Commerzbank, Erste plans to significantly expand its corporate business and invests in factoring.

April 11, 2011

Austria’s Exposure to Portugal: € 433m

France is clearly the larges creditor of the troubled country. Portugal owes Austria € 433m.

April 8, 2011

S&T Reduces Jobs

The ailing Austrian software company has to reduce a quarter of its staff in the current year. There are also problems in Germany and Switzerland.

April 7, 2011

Turkcell Intends to Get Into Austria

The Turkish mobile operator strives for an entry into the Austrian market.

April 1, 2011

Good Prospects for Quanmax

The Austrian distributor of IT products could increase its profit. This year, the sales target is € 100m for the first time.

April 1, 2011

Strabag Awarded for Project in Frankfurt

A subsidiary of the Austrian construction group Strabag, Züblin, is building the "TaunusTurm" in Frankfurt financial district. Construction period ends in 2013.

March 29, 2011

Eco Business Back in Black

The Austrian real estate company records a fivefold increase in Group EBIT to € 25.0 m for the first three quarters of 2010.

March 22, 2011

Rising Sales for Pfanner

The Austrian fruit juice producer achieves sales at its pre-crisis level. In 2010, sales amounted to € 235m after € 225m in 2009.

March 19, 2011

AWD Austria Records Losses

The Swiss/German financial consulter could not manage the turnaround in 2010.

March 5, 2011

Wienerwald Grows Again

The restaurant chain is expected to start growing again after a long crisis. Investments worth € 20m are planned for the current year.

March 4, 2011

Economic Policy: Criticism of Berlin, Praise for Vienna

The leader of the German Left Party, Gregor Gysi, says that Vienna has lead a better economic policy after the fall of the Soviet bloc than Berlin.

March 4, 2011

Allianz Austria’s Profits Jump

The result of the German insurance group in Austria was able to increase despite premiums falling by 2.9% to € 53.7m.

March 4, 2011

Volkswagen Acquires Automobile Trading Business of Porsche Holding Salzburg

Next major step towards the creation of the integrated automotive group of Volkswagen and Porsche

March 3, 2011

Optimism in Austria's Creative Industries

Creatives wish to go new ways to support SMEs with creative services. The economic and technical network is to be intensified.

March 3, 2011

Tourism: Trend for High-Price Segment Continues

Austria's tourism industry shows itself satisfied with the current winter season. Guests come increasingly from Eastern Europe.

March 3, 2011

Takeover of the Austrian Porsche Holding

The majority owner VW could soon take over the Austrian part of the Porsche Group. The price is € 3.3bn.

March 1, 2011

Stable Sales for Rewe Austria

The German food retail group was able to increase its sales moderately last year. The number of employees has increased.

February 26, 2011

Henkel CEE grows in Eastern Europe

The German company, which has set up its Eastern European headquarters in Vienna, achieved a sales increase of 6%.

February 26, 2011

Record Sales for Würth Austria

The German supplier group recorded strong revenue growth. However, the operating result fell short of expectations

February 22, 2011

Still Losses at Brain Force

The Austrian IT provider announces massively declining operating results in the first quarter 2010/11. Sales decreased by 19%.

February 17, 2011

Lopatka Demands Structural Reforms and Budgetary Discipline

The State Secretary for Finance at the German-Austrian Financial and Economic Forum.

February 11, 2011

Rosenbauer: Settlement with German Cartel Office

Anti-trust proceedings of the Austrian Rosenbauer AG end with official notice of € 10.5m fine.

February 11, 2011

Sales Increase at Darbo

The Austrian jam manufacturer increased its sales by 5% in 2010. Already 42% go to exports.

February 5, 2011

Below Average Privatization in Austria, according to ECEG

Regarding privatizations, Austria is still far behind, according to the European Coalition for Economic Growth (ECEG).

February 4, 2011

Rising Sales at Internorm

The Upper Austrian window manufacturer increased its sales by 2% in 2010. Despite domestic sales falling, exports are growing all the better.

February 3, 2011

Wienerberger Raises Stake in Tondach Gleinstätten

Wienerberger transfers 50% of Bramac to Monier in exchange for an additional 25% stake in Tondach Gleinstätten AG and a cash settlement of € 40m.

February 2, 2011

Refunding at S&T Accepted by Banks

The Austrian software company could close a “refinancing package” with its creditors. S&T sells subsidiaries in Ukraine and Moldova.

February 1, 2011

Engel Expands in China

Engel, the Upper Austrian machine builder, benefits from the economy and intends to triple the capacity of the Shanghai location.

February 1, 2011

"Austria Does Not Deserve an AAA Rating"

The chief economist of the American Citigroup, Willem Buiter, also denies Austria, alongside the U.S. and the UK, the right to the AAA rating.

January 29, 2011

Record Sales for BMW Austria

The German car manufacturer was able to set a new sales record in Austria last year. The engine plant also reports record sales.

January 27, 2011

Slight Upward Trend in Austrian Tourism

Tourism in 2010: 0.4% more overnights; all-time-high in number of arrivals.

January 27, 2011

Germany: Largest Investor in Austria

Based on the number of new companies settling in Austria, Germany is the largest investor. More than 40% of the new arrivals come from the northern neighbor.

January 25, 2011

Austria's Agricultural Exports Grow

Agricultural exports were able to recover, but have not reached yet the 2008 level.

January 22, 2011

EnBW Intends to Expand Engagement in Austria

The core shareholder of the Austrian company EVN plans further expansions abroad, especially in the "Alpine countries".

January 21, 2011

Tax Treaty between Austria and Germany

Austria and Germany sign a revision protocol on double taxation agreements to implement the OECD standards of transparency and effective exchange of information.

January 19, 2011

Slight Decline in Furniture Exports

Austria's furniture industry shows itself cautiously optimistic despite a slight decline in exports and expects production increases.

January 18, 2011

A-Tec Sells Subsidiary in Germany

Austrian A-Tec Industries AG has agreed to sell the German Doerries Scharmann group.

January 18, 2011

Austria's Competitiveness Increases Slightly

Austria rose one place, to the 21st, in the ranking of the most liberal economies.

January 14, 2011

Growth in Austria's Foreign Trade and Direct Investment

Austria's goods, services and capital transactions abroad grow strongly, a sign of solid recovery.

January 13, 2011

Immofinanz: Record Letting Results for German Subsidiary

The Austrian Real Estate Group benefits from the upswing in the German property market.

January 12, 2011

S&T announces to withdraw from Germany

The Austrian information technology consulter S&T withdraws from the German market. Hence the German subsidiary „S&T Deutschland GmbH“ will be closed.

January 10, 2011

WIFO and IHS Foresee Economic Weakness

The two major Austrian Economic Research Institutes, WIFO and IHS, expect an economic slowdown in 2011.

January 5, 2011

Secret Foundation of BayernLB in Austria

In the hearings on the purchase of Austria's Hypo Group, a former Member of the Board of BayernLB concealed the existence of a foundation in Austria.

January 3, 2011

Tourists from Russia Increase

The number of Russian guests in Austria continues on the rise. A double-digit growth might even be possible again.

December 28, 2010

Austria's Export Economy is Booming

Given the high growth rates in the past year, the Austrian export economy shows itself also optimistic for 2011.

December 22, 2010

Order for Over € 100m for Voestalpine

The Austrian steel company receives an order for over € 100m by Daimler Trucks.

December 20, 2010

JCL Logistics and Rail Cargo Austria Step into Strategic Alliance

Both logistics companies agree to establish a cooperation in groupage service. Their common target is to reach synergies in their transport network.

December 15, 2010

Bene Still Reports Losses

The Austrian manufacturer of office furniture reports an increase in sales by 10.2% in Q3 2010. Sales in Germany dropped by 18.5%. UK market perfomed well.

December 15, 2010

Austria Benefits from Low Loan Interest Rates

Because of low interest rates and spreads, Austria is able to get convenient financing on the loan market. Euro-bonds would mean significant costs for Austria.

December 13, 2010

Nowotny: No Euro-bonds Yet

Although he supports the euro-bonds in principle, the time has not come yet for the Governor of the Austrian National Bank.

December 10, 2010