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Hungary
Soros University Leaves Budapest in Favor of Vienna
In Hungary, the Central European University (CEU) has faced massive hostility. As a consequence, the location will be relocated to Vienna. Michael Ignatieff, the rector of CEU, announced this week in Budapest that the university is finally moving: "This is a dark day for freedom in Hungary, and it's a dark day for academic freedom." In Vienna, negotiations are still underway on a suitable building for interim use from 2019. By 2023, the university is to move permanently to the grounds of the Otto Wagner Hospital.
December 6, 2018
Setback for the UN - Austria Won't Sign Global Migration Pact
Austria will follow the US and Hungary in backing out of a United Nations pact on migration (Global Compact for Safe, Orderly and Regular Migration) over concerns that it will blur the line between illegal and legal migration.
October 31, 2018
Danube Region Business Forum - Infrastructure and Its Implications on Business in CEE and SEE
The Danube Region is one of the traditionally important markets for Central European regions and companies. However, the infrastructure of this region does not yet meet the requirements of the economy. The 8th Danube Region Business Forum will take place on 9 October 2018 at the Austrian Federal Economic Chamber in Vienna. The aim of the forum is to ensure that the infrastructural quality and cooperations in the region meet the requirements of the economy.
October 3, 2018
Meet the New Ambassador of Hungary to Austria: H.E. Mr. Andor Nagy
The new Ambassador of Hungary to Austria, H.E. Mr. Andor Nagy presented Austrian Federal President Alexander Van der Bellen with his letter of accreditation at the Vienna Hofburg.
September 20, 2018
US Embassy Opening in Jerusalem: Palestinian Ambassador to Austria Called Back to Palestine in Protest
The Austrian Ambassador to Israel, Martin Weiss, was one of only four EU Ambassadors (Hungary, Czech Republic, Romania) who participated in the celebrations surrounding the US embassy relocation to Jerusalem. The Palestinian leadership pointed out some time ago that not only the act but also the timing is a violation of international law and relevant UN resolutions, as well as arrogant disrespect. Therefore, the Palestinian Ambassador to Austria, Salah Abdel Shafi, has been called back to Palestine for an indefinite period of time.
May 16, 2018
The Hungarian Foreign Minister's Alleged Evidence of the Existence of the Soros Plan
The ridiculous discussion about the wave of European immigration allegedly steered by the Soros plan is widening as a result of a letter of evidence from the Hungarian Foreign Minister.
May 11, 2018
Soros's Central European University is to Remain in Budapest
The Central European University (CEU) donated by US billionaire George Soros does not plan to move to Berlin or Vienna, but expects the Hungarian government to sign the agreement with the State of New York as soon as possible so that the CEU can remain in Budapest.
April 20, 2018 · Updated: April 20, 2018; 19:10
VIC Strengthens Presence in Hungary and Slovakia
Hungary’s central bank approved the merger of the three VIG Group companies. As a result VIG will be represented in Hungary solely by the insurance company Union Biztosító. In Slovakia, bancassurer Poisťovňa Slovenskej sporiteľne (PSLSP) will merge with Kooperativa poisťovňa.
April 3, 2018
Hungary Forces Central European University of US Billionaire Soros to Move to Vienna
In view of the political pressure exerted by the Hungarian government under the proposed amendments to Act CCIV of 2011 on Hungarian National Higher Education, the Central European University (CEU) of US billionaire George Soros feels compelled to look for alternatives. The city of Vienna naturally offers itself as an excellent alternative or supplement. The CEU and the City of Vienna are already in negotiations about a memorandum of understanding (MoU) that would enable CEU to open a satellite campus site in Vienna. The Otto Wagner area at Baumgartner Höhe is being examined as a possible location.
March 16, 2018
Strabag building musical road in Hungary
The European-based construction group STRABAG has been awarded the contract to build and widen the R 67 expressway in Hungary. The EUR 212 million project is being carried out by a consortium in which STRABAG holds 53.2 %. Of the 33 km of expressway between Kaposfüred and Látrány in southwestern Hungary, STRABAG is in charge of the new construction of a 10.3 km section as well as the renovation and widening of a further 10.1 km.
June 26, 2017
Closing of Visa Takeover Brings EUR 97 Million Pre-Tax Profit to RBI
The expected pretax profit from the cash payment of the transaction will be EUR 97 million. It should be booked under net income from financial investments in the second quarter of 2016. Visa Inc. had announced the takeover of Visa Europe Ltd. in November of 2015. The cash payment of this one-off effect will be split between Slovakia, Romania, Czech Republic, Poland, the RBI head office, Croatia, Bulgaria, Hungary and Zuno.
June 21, 2016
Long-Distance Coach Operator Flixbus to Compete with ÖBB Austrian Railways
Austrian state-run rail company ÖBB Austrian Railways is facing increasing competition of German mobility provider Flixbus which has just launched its third connection for Austria's regional capital cities, between Graz and Salzburg. In January 2016 FlixBus announced its entry to the markets of Central and Eastern Europe with the new branch FlixBus CEE. This includes six countries (Czech Republic, Slovakia, Hungary, Poland, Slovenia and Croatia) with new lines in the making. () am
April 27, 2016
Erste Group Provides Blackstone with a 5-Year EUR 91 Million Facility
Erste Group provides Blackstone with a 5-year EUR 91 million facility to acquire 12 logistics assets. The 265000 sqm portfolio covers 12 standing logistics investments located in Hungary (5), Romania (4), Poland (2) and Slovakia (1), as well as land reserves.
February 22, 2016
Central and Eastern Europe's Financial Elite Gathered at the CEE Forum in Vienna
The 21st Euromoney Central and Eastern European Forum ended in Vienna today, where 1000 delegates from the region joined local and international investors to help plan, debate and analyze the economic agenda for the region for the year ahead. The vast majority of the delegates have a negative outlook for the year 2016. Only one of the participants expects that this year CEE will grow more than 3.5%.
January 20, 2016
Central and Eastern European Forum in Vienna next Week
The Central and Eastern European Forum - organized by Euromoney - is taking place in Vienna next week. 1,000 top level policymakers, issuers, and commentators from the region will join local and international investors to help plan, debate and analyze the economic agenda for the region for the year ahead.
January 13, 2016
Hungarian Central Bank Buys Austria's 68.8% Stake in Budapest Stock Exchange
Austrian shareholders CEESEG and OeKB sell their 68.8% stake in Budapest Stock Exchange to Hungarian Central Bank for €42m ($45m), the Hungarian central bank confirmed officially.
November 24, 2015
CEE in the Autumn of 2015 is the New Safe Haven
The key conclusion of UniCredit’s CEE Quarterly 4Q 2015 is that the CEE region, despite its heterogeneity, looks better positioned than most other large emerging markets to cope with potential challenges. In particular they found that market volatility spiked in 3Q15, with the uncertainty surrounding the anticipated Fed rate hike augmented by growing worries about a “hard landing” in China.
September 25, 2015
Erste Group Presents Net Profit of EUR 487.2 Million in H1 15
Erste Group closed the first half of 2015 with positive results, reflected in strong improvements in profitability, asset quality, lending and capital. The group reported a net profit of EUR 487.2 million in H1 2015, compared to a negative result of EUR -929.7 million in the similar period last year; all countries except Hungary made a positive contribution to this development. Total assets increased to EUR 197.5 billion, compared to EUR 196.3 billion at the end of 2014. This balance sheet growth reflects a 2.2% advance in net lending to customers compared to the end of 2014, to EUR 123.5 billion, supported by the 1.7% growth in loans to households, 2.0% to SMEs and 5.9% to large corporates.
August 7, 2015
Euromoney Names UniCredit-Bank Best Bank in CEE
Euromoney has presented UniCredit with nine awards for excellence, including Best Bank in Central Eastern Europe, Best Debt House in Central Eastern Europe and Best Transaction Services House in Central Eastern Europe.
July 14, 2015
EBRD Sees Mixed Outlook for CESEE Countries in 2015-16
The outlook for economies in central and south eastern Europe is improving on the back of eurozone monetary easing but prospects further to the east of the transition region have worsened, as the impact of Russia’s recession intensifies.
May 14, 2015
Erste Group Seales Agreement to Sale 15 Percent of Hungarian Unit
Erste Group has invited the Government of Hungary and the EBRD to invest in Erste Bank Hungary Zrt. by acquiring a minority stake of up to 15 per cent each. Negotiations are in progress and the completion of the transaction is expected within the next six months.
February 9, 2015
RBI Revises Expected Provisioning Requirement
Vienna based Raiffeisen Bank International AG (RBI) has revised its outlook for the net provisioning requirement for the current financial year to between EUR 1,500 and EUR 1,700 million, primarily due to higher expected risk costs in Ukraine in light of ongoing political tensions in the region.
September 23, 2014
Voestalpine to Supply Linepipe Plates for the Second South Stream Pipeline
This year sees the voestalpine Group securing its third major contract in the pipeline business. Following the first, now completed, contract for the Russian-European pipeline project South Stream, and for Rota 3, a pipeline project in Brazil, voestalpine will deliver 120,000 tons of sour-gas-resistant, high-strength linepipe plates for the second South Stream pipeline by spring 2015. The South Stream contract is not affected by sanctions. Further negotiations are also currently underway concerning extremely challenging pipeline projects.
September 5, 2014
Mid Europa Partners' New Fund to Invest EUR 800 Mln in CEE
Mid Europa Partners, the British private equity firm focused on buyouts in Central & Eastern Europe, announced the final closing of Mid Europa Fund IV at €800 million, complemented by an additional pre-allocated co-investment program of €650 million. Fund IV represents the largest dedicated fund to the CEE Region raised in the last 5 years.
September 5, 2014
Cost of Living Rankings: CEE Capitals Cheaper, Vienna is 32nd Most Expensive City
The Mercer's 2014 Cost of Living Rankings have been published and cover 211 cities across five continents. While Western European cities have all risen in the rankings mainly due to the strengthening of the Euro against the US dollar, most cities in Central and Eastern Europe (CEE), however have fallen in the ranking as a result of local currencies depreciating against the US dollar. Bratislava (#84), Prague (#92), Kiev (#98), Ljubljana (#116), Zagreb (#120), Budapest (#135), Warsaw (#142), Belgrade (#184).
July 25, 2014
FDI in Austria up by EUR 25 Million
In the first half of 2014 the number of international companies setting up business operations in Austria with the assistance of ABA in cooperation with the regional investment promotion agencies climbed from 88 to 114. Total investment volume was up 15.9 % in the first half of 2014 to EUR 179.97 million from EUR 154.33 million in the prior year period.
July 11, 2014
Analysis: The South Stream Gas Pipeline
Due to the signing of the South Stream agreement between OMV and Gazprom for the Austrian part of the pipeline during Putin's visit to Vienna, we take a look at the background of the project.
June 25, 2014
CEE-Initiative: Strengthening Investment Fund Business in Central- and Eastern Europe (CEE)
The Hungarian association BAMOSZ and the Austrian association VÖIG initiated a closer collaboration and tighter co-operation between fund associations in CEE, the so-called „CEE Initiative“. The member associations of the „CEE Initiative“ are (in alphabetical order): Austria, Bulgaria, Croatia, Czech Republic, Greece, Hungary, Poland, Romania, Slovakia, Slovenia and Ukraine.
June 16, 2014
Austria: Western Balkans Representatives are Meeting in Vienna
The Western Balkans Conference and the Central European Initiative (CEI) Ministerial Meeting are currently discussing questions regarding the EU enlargement, the role of the EU as a peace project and the economic situation in the Western Balkans.
June 3, 2014
BSH Vienna is Partially Taken Over by German BSH Group
With the goal of strengthening its international market presence, the TROX Group acquired parts of BSH Group.
May 31, 2014
Austrian Oberbank Shines in Hungary
Austrian Oberbank bucks the trend of terminating business activity in Hungary. Instead, the financial institute plans on growing in one of the most difficult markets in Europe.
May 22, 2014
Austrian Prinzhorn Holding to Invest Massively in Hungary
Prinzhorn Holding will build its own power plant in Hungary to supply its paper factory in Dunaujvaros.
May 21, 2014
Czech Republic: Rosatom to Complete Temelin?
Russian State Atomic Energy Corporation Rosatom presented an offer to complete the units of the Czech nuclear power plant Temelin.
May 12, 2014
MOL Group Acquires 208 Filling Stations in Three CEE Countries
MOL Group’s retail network grows to almost 2,000 service stations across 11 countries. The Group’s market presence expands significantly in the Czech Republic, Slovakia and Romania. Retail network expansion further strengthens MOL Group’s role in CEE.
May 9, 2014
German Retailer Metro Faces Massive Losses in CEE
Sales in CEE declined 14.8 percent last year for German retail and wholesale enterprise Metro Group.
May 9, 2014
Michelin to Downsize in Hungary
French tyre producer Michelin announced to shut down ist tyre plant in Budapest and relocate to Romania.
May 9, 2014
MOL: Oil Supply to Hungary not Endangered
According to Hungarian oil and gas enterprise MOL, the supply to Hungary is not endangered by the delivery stop of Russian oild products passing through Ukraine.
May 9, 2014
Calls for European Energy Union Become Louder
Polish PM Tusk called for a European energy union. His Hungarian counterpart supports the idea.
May 9, 2014
Raiffeisen Bank International AG - SWOT Analysis & Company Report May 2014
This new report contains in depth information and data about Raiffeisen Bank International AG and its operations and markets. It contains an overview, business and strategy description, financial ratios, valuation & forecast data and a SWOT analysis.
April 25, 2014
„Brussels Must Reconsider Enlargement Policy“
Austrian Minister of Foreign Affairs Sebastian Kurz criticized the EU´s approach towards Ukraine. However, the EU has to develop further.
April 25, 2014
Erste Group Bank AG: Full Year 2013 Company Report has been Published by FriedlResearch
Published in April 2014, this report contains in depth information and data about Erste Group and its operations and markets. It contains a company overview, business and strategy description, financial ratios, valuation & forecasts, plus a SWOT analysis.
April 15, 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
Hungarian Electorial Law Supports Major Parties
Orban is the clear winner of the parliamentary elections in Hungary. He stressed that there are no more conflicts with the EU than any other member state had.
April 7, 2014
RBI to Shut Down Affiliates on Crimea
The Ukrainian affiliate of Raffeisen Bank International (RBI) is closing all its affiliate on Crimea until mid-April.
April 7, 2014
Hungary: Clear Victory for Orban
Today, Hungary has held parliamentary elections. Despite controversial and radical reforms, Prime Minister Orban was confirmed.
April 6, 2014
Hungary: Orban Faces Re-Election
Tomorrow, Sunday, Hungary holds national elections. Despite the difficult economic frame conditions in Hungary, the centre-right government is expected to be confirmed for the next four years.
April 5, 2014
Hungary: Fidesz Considered Winners of Elections
The governing party Fidesz under Prime Minister Viktor Orban is expected to become the clear winner of the parliamentary elections on Sunday.
April 3, 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
Hungary Receives € 10bn Loan from Russia
Hungary´s government has signed a loan agreement with Russia. Budapest wants to finance the enlargement of the Paks nuclear power plant.
April 2, 2014
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