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Hungary
Purchasing Power in CEE Region: Czech Republic Ranks First
Among Poland, Slovakia and the Czech Republic, Bratislava records the biggest regional purchasing power. In total, the Czech Republic ranks first.
July 7, 2012
Hungary: Negotiations on IMF Loan to be Concluded in Autumn
Since January, the Hungarian government tries to secure a € 15bn loan by IMF and the European Central Bank. A final solution may be found in the next months.
July 7, 2012
Austria Remains One of the Biggest CESEE Investors
Austria is still an important net investor in Central, Eastern and Southeastern Europe. However, the global importance of the region did not increase.
July 6, 2012
CEE Defies Turbulences in the Eurozone
GDP in CEE expected to grow 2.6 per cent in 2012 – eurozone expected to shrink by 0.3 per cent. Growth forecast for Austria’s GDP at 0.7 per cent in 2012
July 5, 2012
Czech Republic: OMV Withdraws, MOL Expands
The Hungarian oil and gas group purchased 124 petrol stations in the Czech Republic. The Austrian OMV continues its downsizing strategy.
July 4, 2012
CESEE: Poland and Turkey are Hot Spots
Erste Economic Sentiment Indicator CEE: stock market expectations weaker, but still ahead of Eurozone. Turkey and Poland remain the preferred investment regions.
July 4, 2012
Volksbanken Sector to Become Merged
After months of negotiations, the merger between VBAG and the 52 Volksbanken is resolved. The merger was the prerequisite for getting bank aids.
June 30, 2012
Hungary: Financial Transaction Tax to be Extended
The Hungarian government plans a growth stimulus program, which should be funded with the extension of the current financial transaction tax.
June 30, 2012
Uniqa Completes Sale of Mannheimer Group
The Austrian insurance group Uniqa completed the sale of the Frankfurt listed company Mannheimer AG Holding to Continentale Versicherungsverbund. Growth in CESEE countries should be strengthened.
June 29, 2012
Credit Crunch in CESEE?
Anglo-Saxon banks and funds are most aggressive in deleveraging; Austrian bank are not relying on funding from countries in hotspots of deleveraging.
June 27, 2012
Austrian Railways and Hungarian MAV to Cooperate
ÖBB and MAV are said to plan a common expansion strategy in Southeastern Europe.
June 25, 2012
Nabucco „Not Essential“ for EU
For the EU Commissioner Günther Oettinger, it is not important which pipeline ships natural gas to Europe.
June 22, 2012
Major Loss at VBI
The Sberbank-owned Volksbank International (VBI) recorded a net loss of € 95.5m last year.
June 15, 2012
CEESEG: Harsh Environment Depresses Earnings for 2011
CEE Stock Exchange Group reports a massive cut in earnings, which is mainly due to impairment losses of Budapest Stock Exchange.
June 15, 2012
Leitl Underlines Good Relations with Hungary
At the visit of Hungary´s Viktor Orban, the President of the Austrian Chamber of Commerce (WKO) stresses the long-term commitment of Austrian enterprises in Hungary and claims legal security in return.
June 14, 2012
Raiffeisen Sector Won Market Shares Last Year
The Austrian Raiffeisen banking group could increase ist market share in lending and deposits.
June 14, 2012
New Equities at Budapest Stock Exchange
The 23 largest and most liquid European equities from 6 countries and 15 various industries will be available in forints via Hungarian exchange members.
June 13, 2012
Orban Defends Hungarian Economic Policy
The Hungarian Prime Minister Viktor Orban met Austrian policymakers in Vienna. The Hungarian bank tax should be replaced by a financial transaction tax.
June 13, 2012
Substantial Losses at Volksbanken
The main shareholders of Austrian VBAG had to write down € 333m last year.
May 26, 2012
Massive Gap in Purchasing Power
Purchasing Power Parities 2012: Higher travel costs for overseas destinations; Austrians' purchasing power 40–70% above the level in Slovakia, Czech Republic and Hungary.
May 21, 2012
BCR: Treichl Expects Soon Recovery
Andreas Treichl, CEO of Erste Group, anticipates a soon recovery of the Romanian subsidiary Banka Comerciala Romana.
May 19, 2012
Grazer Wechselseitige Posts Profit Decrease
Due to the Hungarian business segment, the Austrian banking and insurance group recorded a decline in net income to € 58m from € 69m.
May 16, 2012
Declining Sales at Ottakringer
The Austrian beer and mineral water producer faces a shrinking market in the first quarter of 2012. Sales fell by 8.9%.
May 16, 2012
Strong Increase in Austrian FDI
Only in 2007, Austrian investors made more investments abroad. Last year, FDI totaled € 22bn.
May 14, 2012
Zsolt Katona is the new CEO of BSE
The Board of Directors of the Budapest Stock Exchange appointed Zsolt Katona to be the new Chief Executive Officer from 15 May 2012.
May 11, 2012
Hungarian Bank Tax May be Abolished
The extraordinary bank tax in Hungary will be halved in 2013 and deleted in 2014, the government said. Austrian banks are relieved.
May 10, 2012
Nabucco: Azerbaijan´s Nassirov Optimistic
Elshad Nassivor, Vice CEO of the Azerbaijani oil and gas group Socar is optimistic to create a connection with Austria´s gas hub in Baumgarten.
May 5, 2012
Improved Business Atmosphere in CESEE Region
According to a survey by OeKB (Oesterreichische Kontrollbank), expectations of investors are beyond the level of January. Austrian exports to the CESEE region may increase.
May 4, 2012
Budapest Stock Exchange´s CEO Resigns
György Mohai ceases his position as chief executive officer of BSE (Budapest Stock Exchange), a member of CEESEG.
May 2, 2012
Drastic Losses at Porr
The third-largest Austrian construction company had to write off projects in Hungary and Romania. Net losses totaled € 72m.
April 30, 2012
OMV: „Nabucco is More Alive than Ever”
Despite the exit of Hungarian MOL, the Austrian oil company underlines the importance of Nabucco. CEO Roiss holds on Nabucco.
April 28, 2012
OMV Plans Downsizing of Nabucco
The Austrian oil and gas group works on a downsized version of the natural gas pipeline project. The original version would become too expensive, analysts say.
April 25, 2012
MOL May Leave Nabucco Project
Hungarian Prime Minister Viktor Orban said that MOL the country’s largest company by market capitalization, is leaving the € 7.9bn ($ 10.4bn) Nabucco natural gas pipeline project.
April 24, 2012
Agrana Aims for Expansion into Balkan Region
The Austrian sugar and starch company Agrana is looking for acquisition targets in the Western Balkans.
April 23, 2012
Bank Burgenland Records Profits in spite of Hungarian Crisis
The Austrian regional bank´s results were impressed by the coerced conversion of foreign currency loans in Hungary.
April 21, 2012
Drastic Cut in Profit at RLB Lower Austria-Vienna
After net income of € 308.6m in 2010, the figure went down by 64.5% last year. Write-offs in Hungary, bank taxes and the lower result at RZB are the main reasons.
April 20, 2012
Goldman Sachs: Too Small Margins at Austrian Banks in CEE
The U.S. investment bank is optimistic that the CEE region recovers in 2013. The write-offs made by Austrian banks were “correct”.
April 16, 2012
Austrian Railways Aims for Expansion in SEE
ÖBB (Austrian Railways) wants to establish a new freight subsidiary operating in Southeastern Europe. In Austria, ÖBB performs better than expected.
April 16, 2012
Strabag to Expand in Danube Region
In order to develop the Danube region of Hungary, Serbia, Romania, Bulgaria and Ukraine, the Austrian construction group expands its hydraulic engineering business.
April 12, 2012
„Bank Aids Are Lost“
The economist Franz Hahn (WIFO, Austrian Institute of Economic Research) argues that the nationalized banks are not interesting for potential buyers.
April 10, 2012
Oberbank Aims For „Organic Growth“
The Upper-Austrian regional bank continues its growth course and underlines its financial stability and independence.
April 6, 2012
Raiffeisen: Downsizing in Hungary Completed
The Hungarian subsidiary of the Austrian lender Raiffeisen Bank International has no plans for further business downsizing.
April 5, 2012
VBAG Records Losses of € 1.35bn
Due to high write-offs in Hungary and Romania, the Austrian nationalized bank registered major losses in 2011. Thus, the capital injection covers these losses only partially.
April 5, 2012
RBI Strengthens Commitment to CEE Region
Austrian Raiffeisen Bank International underlines its function as major lender in Central and Eastern Europe. Hungary is still the most uncertain market.
April 2, 2012
RBI Is Optimistic to Reach Solution in Hungary
On the occasion of a investor conference in London, Austrian Raiffeisen Bank International talked about risks in Hungary and capital requirements by EBA.
March 31, 2012
EStAG Reports Moderate Rise in Earnings
The Styrian energy supplier Energie Steiermark AG could raise revenues by 9.0% to 1.37bn. Operating profits were down, though.
March 30, 2012
Ottakringer: Hungary Lowers Profits
The Austrian beer producer achieved stable results in 2011. The Hungarian brewery Pécs reports losses, however.
March 27, 2012
Nabucco Sees Decision on Combination With Tanap Next Year
Nabucco Gas Pipeline International GmbH, the € 7.9bn ($ 10.5bn) project to ship Caspian fuel to Europe, expects to make a decision on whether to link up with the competing Trans-Anatolia Pipeline next year.
March 22, 2012
Bank Austria Plays Down Hungary Risks
The head of UniCredit unit Bank Austria's central and eastern Europe business played down potential risks from Hungary in a magazine interview published on Friday.
March 19, 2012
No Credit Crunch in CEE
Western European banks maintain the liquidity of their subsidiaries in Central and Eastern Europe. The equity provision is better than expected.
March 14, 2012
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