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Italy

Hypo Group: CEO Kranebitter Steps Back

Kranebitter announced to stay until the half-year accounts are published. On Monday it became known that the ailing bank will in all likelihood require more state aid than planned.

July 2, 2013

Hypo Group: CESEE Units to be Sold Until Mid-2015

The threatened compulsory sale of nationalized Hypo Alpe Adria Group by the EU Commission until the end of this year, was, according to information by the Finance Ministry, fended off. An additional burden of € 2bn might await the Austrian taxpayers.

July 1, 2013

TAP to Deliver Greece, Italy and CESEE

Shah Deniz targets Italian and Southeastern European gas markets through Trans Adriatic Pipeline.

July 1, 2013

Hypo Group: Government Hopes For Expansion of Deadline

The restructuring plan for Hypo Group has been handed in to Brussels. It is still unclear whether the deadline will be expanded.

July 1, 2013

Austria: Harsh Blow for OMV

The pipeline “Nabucco”, a project with Austrian energy enterprise OMV taking the lead, will not receive gas from the gas field Sha Deniz II. This was announced by the mineral oil company on Wednesday.

June 26, 2013

Ukraine Could Become Energy Hub in Europe

According to EU Enlargement Commissioner Füle, Ukraine is an important partner of the EU.

June 26, 2013

Raids at Hypo Group in Italy

Because of suspicions of tax fraud Hypo Group’s affiliate in Udine was searched by the Italian police.

June 25, 2013

Macedonia to Join South Stream Pipeline Project

Contracts will be signed next week in St. Peterburg.

June 12, 2013

Serracchiani: „Will Do Everything I Can“

In an interview with Austrian newspaper “Kleine Zeitung“ Debora Serracchiani, new regional president of the province Friuli in Italy announced to do everything so that Hypo Group Italy will survive.

June 11, 2013

Papa: CEESE To Keep Growth Advantage

Deputy CEO of Bank Austria Papa sees a long-term potential in CESEE countries. Bank Austria is expecting a growing credit business apart from the favorable economic outlook in the region.

June 6, 2013

Hypo Group: Italian Affilate Not to be Closed

The nationalized Carinthian bank has no plans of shutting down its Italien affiliate.

June 4, 2013

Voestalpine to Take Over Trafilerie di Cittadella S.p.a

Voestalpine extends its welding technologies product portfolio with an acquisition in Italy.

June 3, 2013

World Competitive Ranking: Austria Loses 7 Ranks

The World Competitive Ranking of Lausanne IMD Private School of Economics has become one of the most significant location comparisons on an international basis in the last 25 years.

May 29, 2013

Hypo Group to Sell Austrian Affiliate

On Friday the deal of nationalized Hypo Bank’s Austrian affiliate will finally be sealed. Indian Srei Group will become the new owner in all likelyhood. The company will pay € 60m to € 70m.

May 29, 2013

Austria: Faymann Proposes Extension of Bank Levy

Not only the federation and taxpayers should avow for the losses at Hypo Group. This week the restructuring plan has to be handed to the EU Commission.

May 27, 2013

Nowotny: Decision About Bad Bank for Hypo Not Essential Right Now

The Governor of Austrian’s National Bank confirms that the result for the ailing Hypo Group will not be “good” due to the losses that have amounted over the past years.

May 23, 2013

Srei Group to Offer € 65.6m for Hypo

The Indian Srei Group offers € 65.5m for Austrian Hypo affiliate.

May 22, 2013

Austria: Preliminary Results on Hypo Group Expected Next Week

Hypo Group’s task force, appointed by the government, will present the preliminary corner marks next week.

May 17, 2013

Hypo to Require € 1bn This Year

The ailing banking institute Hypo Group in the province of Carinthia will need € 1bn. On Friday, the managing board of Hypo Group will present a restructuring plan to the Finance Minister.

May 17, 2013

Indian Srei Group to Acquire Austrian Hypo?

Austria is looking for a buyer for the domestic Hypo affiliates. Indian Srei Group seems to have good chances.

May 13, 2013

Former Polish President: “EU Needs Ukraine”

In an interview with Polish news magazine Wprost, former Polish president Aleksandar Kwasniewski explains that in the future, the EU will need Ukraine.

April 22, 2013

Rothensteiner: „Strictly Against Discussion“

Head of RZB (Raiffeisen Zentralbank) Walter Rothensteiner is everything else but happy about the current discussion about the bank secret and deposit guarantee.

April 17, 2013

Austria: Hypo Group to Come Under Fire

Pressure from Brussel grows for a fast selling of Hypo Group.

April 16, 2013

Austia: Stable Industrial Production

Austrian industrial enterprises are particularly concerned about the future. The order situation was stable last year, however, only because of domestic orders. Sales in exports are still decreasing.

April 12, 2013

Concern About Hypo Group in Friuli

MEP Serracchiani has requested to get involved in the current affairs.

April 8, 2013

European Banks Leaving CESEE Countries

Two banks from EU member state countries Sweden and Italy have announced withdraw from their holdings in Hungary, Russia and Ukraine.

April 2, 2013

Moody’s Warns EU

The rating agency warns the EU governments about over-estimating the ability to overcome the Euro-crisis.

March 27, 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

Bank Austria To Boost Capital Base

CEO Cernko wants Eastern Europe to play an important role again in the future.

March 19, 2013

Bank Austria's Profits Under Pressure

In the fourth quarter, Bank Austria has recorded a net loss of € 676m. In the whole year, CEE division showed a profit before tax of € 1.712bn which is an increase of 6 % compared to 2011. One-off charges totalled € 879m.

March 18, 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

Bank Austria to Sell ATF

Bank Austria will sell its affiliation in Kazakhstan, ATF Bank, which was acquired in 2007. ATF made losses into the billions.

March 15, 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

Austrian Exports Reach new All-Time High

The Austrian Chamber of Commerce (WKO) today presented the foreign trade results of 2012. This year, WKO´s President Christoph Leitl expects s moderate increase in exports.

February 21, 2013

Palfinger Establishes Joint Venture for Access Platforms in Italy

The Austrian crane manufacturer is establishing Palfinger Platforms Italy Srl., a joint venture with headquarters in Bolzano, Italy.

February 19, 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

“South Tyrolean autonomy must not be undermined”

State Secretary outlines Austria’s position to a delegation of the South Tyrolean Parliament

November 26, 2012

Bank Austria: Subsidiaries in Czech Republic and Slovakia to Merge

Bank Austria´s holding company UniCredit starts a Business Refocusing Program in CEE.

November 13, 2012

South Stream Pipeline: Construction Works to Begin in December

The pipeline projects of Russia´s gas group Gazprom makes substantial progress. Europe´s dependence on Russia is growing further.

November 12, 2012

Strabag Aims to Take Over Italian Highway Operator

The Italian highway operator Milano Serravalla is going to be privatized. The Austrian construction company plans to acquire the majority.

November 7, 2012

IHS: Collapse of Eurozone would Cost 157,000 Jobs

The Austrian Institute of Advances Studies IHS says that Austria´s economic growth would be lower by 11 percentage points until 2016.

November 5, 2012

„Nabucco Is not Dead at All“

The EU-Commissioner of Energy Günther Oettinger is optimistic that Nabucco will be successful. According to Austria´s Minister of Economics Reinhold Mitterlehner, the prospects of success are “50+”.

October 9, 2012

Hypo Group: Problems in Italy

The Austrian banking group, which was nationalized in 2009, must downsize. The sale of the Italian subsidiary proves difficult, however.

September 25, 2012

Klaus: Czechs Against Banking Union

The Czech President notes that the Czech Republic cannot achieve anything without a recovery of the European economy. However, it would be advantageous to stay outside the Eurozone.

September 18, 2012

Hypo Group Cuts Jobs in Italy

The Austrian bank continues its downsizing program. 118 out of 403 jobs will be reduced in Italy.

September 13, 2012

„The situation is inconvenient, but not dramatic“

In an interview with the Austrian newspaper Kurier, the Austrian Minister of Economics Reinhold Mitterlehner underlines that “we must keep our nerves”.

September 13, 2012

Euro-Crisis Enters Austria

In the second quarter, the Austrian GDP only grew by 0.1%, WIFO says (Austrian Institute of Economic Research). A recession is not excluded anymore.

September 10, 2012

Hypo Group´s Capital Shortfall at € 2.2bn

Today, the Austrian Financial Market Authority (FMA) announced its new estimation regarding the nationalized banking group. Insiders fear that Hypo Group needs even more money.

September 6, 2012

Further Increase in Unemployment

At the end of August 2012, 289,000 persons were looking for a job in Austria. At the same time, employment still grows.

September 3, 2012

Fekter: „Spain is No Bail-Out Candidate“

Austria´s Finance Minister Fekter says that only Spain´s banks may need help from the EU.

August 31, 2012
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