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Hungary


Austrian FDI: 2010 Was a Year of Stabilization

Active foreign direct investment increased, while inward flows stagnated in 2010. Turkey was the top destination for Austrian investors.
May 18, 2011


Sales Increase for Ottakringer Group

The beverage was able to increase its sales by 32% in the first quarter, compared with the same period of the previous year.
May 13, 2011


Radovan Jelasity appointed CEO of Erste Bank Hungary

Radovan Jelasity (43) will join Erste Bank Hungary as of 1 June 2011. Subsequent to the approval of the respective Hungarian authorities, he will be appointed Chief Executive Officer (CEO).
May 10, 2011


Erste Group: Slight Increase in Profits Expected

UniCredit and RCB expect a slight rise in profits for Erste Group, despite bank taxes in Austria and Hungary.
April 27, 2011


No Rush Expected on the Labor Market after the End of the Transitional Periods

After 30 April 2011, an additional access to the Austrian labor market of about 11,500-16,500 people annually from Hungary, the Czech Republic and Slovakia is expected.
April 12, 2011


Foreign Capital Inflows Make a Comeback to CEE

Foreign direct investments picked up by 9% in CEE; Czech Republic scored best in attracting FDIs, says Erste Group.
March 30, 2011


Concerns about "Eurovegas"

The Austrian-American project for the construction of Europe's largest casino meets increasing opposition.
March 16, 2011


ÖBB: Cargo Division as Loss-Maker

The continuing crisis of the Austrian Federal Railways (ÖBB) is due in large extent to the losses in freight traffic of Rail Cargo Austria (RCA).
March 8, 2011


Hardly any Effects Expected by Labor Market Opening

As of May 1, 2011, the citizens of the countries which joined the EU in 2004 will be able to work in Austria without any restrictions. The effects should be kept within certain limits.
March 4, 2011


Sales Declining at Spar Hungary

The food trade chain records declining sales in Hungary - for the first time in its history.
March 4, 2011


Spar: Moderate Growth in Market Share

The Austrian food trade group recorded a sales increase of 4.4% in the previous year. Growth in the CEE region turns out weaker.
February 18, 2011


Strong Growth for bauMax

The do-it-yourself group increased its sales in Austria and Eastern Europe in 2010.
February 18, 2011


Erste Bank Hungary CEO to resign

Edit Papp, the CEO of Erste Bank Hungary, has decided to pursue other professional opportunities and therefore announced her resignation.
February 16, 2011


Difficulties in ÖBB Restructuring

The Austrian Federal Railways cannot get out of their debt crises. Restructuring of the freight division requires additional funding
February 15, 2011


Eastern Europe Slows Siemens Austria Down

The pre-crisis level has not been reached yet, says CEO Hesoun. Public savings programs prevent the technology company's growth.
February 9, 2011


RLB Burgenland’s Profits Increase

Burgenland's regional bank recorded an operating profit of € 49m for 2010, which represents a slight improvement compared with 2009.
February 4, 2011


Investments in Renewable Energies in the CEE are booming

According to a study by TPA Horwath, Austrian companies will expand massively their involvement in the field of renewable energies in the CEE region.
February 4, 2011


Hungary: Calls for Boycotts against Foreign Companies in Hungary

A Hungarian initiative demands that 13 foreign companies be boycotted, including Austrian OMV
January 18, 2011


New Charges against Ruttenstorfer

The chairman of Austria's OMV is accused of market manipulation because of an interview.
January 14, 2011


Satisfaction at CEE Stock Exchange Group

The CEE Stock Exchange Group (CEESEG) looks back at a “busy and successful year 2010”.
January 5, 2011


SW Umwelttechnik: New Orders Totalling € 6.5m

OMS, the engineering company of the Austrian SW Group, won contracts in Hungary and Romania valuing a total of € 6.5m.
January 5, 2011


Special Tax: Hungary Under Fire

Especially the Austrian economy criticizes the Hungarian special tax on large companies. The EU Commission has already started an investigation.
January 4, 2011


13 CEOs Call For Sanctions Against Hungary

Because of the new taxes introduced by the Hungarian government, a group of prominent European CEOs call for EU-sanctions.
January 2, 2011


Austria's Labor Market Opens

As of May 1, 2011 the German and Austrian labor markets open for the new EU citizens. Romania and Bulgaria will follow suit in 2013.
December 30, 2010


Garage Operator Company List Expands to Hungary

The Vienna-based List Group, which acts as real estate company, acquired the Wipark Group in Hungary.
December 28, 2010


Austrian-Hungarian Know-How for Macedonia

The Hungarian and Austrian Stock Exchanges make their capital market know-how available to the Macedonian Stock Exchange.
December 21, 2010


A Las Vegas for Europe

On the Austria-Hungarian border, the European “EuroVegas” gaming metropolis is to be built for € 5.0bn.
December 8, 2010


Austria's Position in the CEE Region Shakes

According to the Roland Berger consultancy agency, Austria receives not only competition in the CEE countries, but the importance of the region also decreases from a global viewpoint.
December 1, 2010


Massive Lay Offs at Hypo Group

The still ailing Carinthian bank restructures the leasing division. 500 jobs are being cut.
November 30, 2010


ÖBB-CEO Kern Reconstructs Freight Division

After the decisions made about personnel, Kern wants to make the freight division profitable again. The group’s CEO has accorded himself three years for the process.
November 26, 2010


Warimpex Announces Results of Q1-Q3 2010

Upward trend continues in the third quarter of 2010: Sales up by 21 percent.
November 17, 2010


Erste Group: Job Reduction in Hungary

The Austrian bank plans to cut 250 jobs in Hungary. Reasons are the bad loans and the introduction of the bank tax.
November 11, 2010


Competition for Hungarian ÖBB Subsidiary

Rail Cargo Hungaria (RCH) is still fighting for restructuring success. Meanwhile, a new competitor has appeared in the freight business.
November 5, 2010


ÖBB: Alleged Corruption

An internal document about a meeting of the ÖBB Supervisory Board in 2008 has now appeared. Bribes are openly talked about.
October 29, 2010


Hungarian Railway Workers Strike Against Rail Cargo

Due to employee layoffs at Rail Cargo Hungaria, the employees threaten to go on strike. Rail Cargo suffers losses both in Austria and in Hungary
October 27, 2010


Bank Austria CEO Cernko: No More Bank Tax Soon

Due to Basel III, location reasons and to safeguard jobs, the bank tax will only be effective temporarily, according to Cernko
October 22, 2010


Coface CEE Top 500 - Poland Largest Number of Companies in CEE

Poland has the largest number of companies in the Central and Eastern Europe Top 500 with 28.4%. Hungary ranks second with 16.6%, overtaking the Czech Republic, which is home for 13.8% of the CEE Top 500.
October 12, 2010


Strabag acquires property und facility management service provider in the Czech Republic

The acquisition of 100% of ECM Facility a.s., Prague garantes the number 5 position in property & facility management in the the Czech Republic.
September 20, 2010


CEE Companies in a Turmoil

According to a study by Deloitte, last year Eastern Europe’s top 500 companies showed a clear decline in sales.
September 14, 2010


Hungary gives bank tax its blessing

The new Hungarian Prime Minister Viktor Orban will not abandon the highly controversial tax, as decided in Parliament.
July 22, 2010


East-Europe Bank - "Hungary carries risks of infection"

The proposed bank tax against the wishes of the IMF is not a good sign, says the head of the European Bank for Reconstruction and Development (EBRD).
July 20, 2010


Hungary rejects additional austerity measures

Hardened front between the Hungarian government on the one hand and the International Monetary Fund (IMF) and the EU on the other side: highly-indebted Hungary has ruled out further austerity measures.
July 19, 2010


Hungarian burden for Austro-banks

Raiffeisen International (RI) CEO Herbert Stepic expressed his concerns during a general conference.
July 9, 2010


Hungary rejects amendments to bank levy

At the start of negotiations with the International Monetary Fund (IMF), the Hungarian government ruled out an amendment of the introduction of the controversial bank tax.
July 7, 2010


Nowotny strongly criticizes the Hungarian bank tax

The Austrian central bank chief Ewald Nowotny has practiced unusually sharp criticism of the Hungarian government, more specifically at the proposed Hungarian bank tax.
June 30, 2010