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Italy

Sorgenia Records Losses

The Italian subsidiary of the Austrian energy company Verbund registered net losses of € 14.7. Revenues were up by 9.5%.

April 21, 2012

Felderer: „Women Must Have More Children”

The director of the Austrian Institute of Advanced Studies (IHS) sees a demographic problem in Austria as well as in Europe. Migration cannot solve the problem, Felderer says.

April 19, 2012

Mixed Results at Generali Austria

The Austrian subsidiary of the Italian insurance group recorded a decent rise in premium income. Earnings were down by 24%.

April 19, 2012

Hypo Tirol: NPL Quota at 37%

The Tyrolean regional bank recorded losses of € 125m last year. The owner, the province of Tyrol has to inject further capital.

April 16, 2012

Verbund Focuses Investments on Austria

The Austrian energy company plans investments of € 2.4bn in the next five years. About 66% of these investments will be made in Austria.

April 12, 2012

Strong Rise in Foreign Direct Investment

According to Austrian Business Agency (ABA), total investment increased by 34%. 1,822 new jobs were created.

March 30, 2012

Rewe Austria Shows Solid Growth

The German retail chain achieved sales of € 7.47bn in Austria last year, which is a rise of 6.26%.

March 30, 2012

Bank Austria: Higher Profits than Expected

Bank Austria posts net profit of € 209m despite burdens of € 1.2bn resulting from Greece, goodwill impairment and bank levies.

March 28, 2012

BNP: Austrian Economy Recovers

GDP in Austria contracted slightly in Q4 2011 as exports fell, but weak growth is likely to have resumed at the beginning of 2012, says BNP Paribas.

March 26, 2012

Austrian Chamber of Commerce Underlines Importance of South Tyrol

The President of Austria´s Chamber of Commerce (WKO), Christoph Leitl, met South Tyrols governor Luis Durnwalder and stresses the good political and economic relationship between South Tyrol and Austria.

March 24, 2012

Moderate Rise in Austrian Bilateral Trade with Italy

In 2011, Austrian exports to Italy went up by 8.6% to € 9.3bn. After Germany, Italy is Austria´s second largest trade partner.

March 21, 2012

Verbund Faces Competition from Russia

The Russian energy group Inter Rao is interested in the Milan-based Sorgenia. Austrian Verbund holds 45% in Sorgenia.

March 20, 2012

Austria Underlines South Tyrol´s Autonomy

Austrian State Secretary Wolfgang Waldner on working visit in South Tyrol. Austria suggests an “Alpine Strategy”.

March 19, 2012

Raiffeisen Energy & Environment Sells Bulgarian Assets

The subsidiary of the Austrian Raiffeisen Leasing sells Bulgarian wind parks to Lukerg Renew.

March 14, 2012

Ghizzoni: „Austrian Bank Tax Is Painful“

The Chief Executive Officer of UniCredit, the holding company of Bank Austria emphasizes not to sell the Austrian subsidiary. The bank tax is “unfair”.

March 10, 2012

Imports Grow Stronger than Exports

January to December 2011: Austrian imports rose by 15%, exports increased by 12%.

March 9, 2012

Foreign Direct Investment in Austria Increasing

In 2011, a moderate decline in new enterprise settlements was registered. Investments grew by 34%.

March 8, 2012

Hammerer Aims For Growth in Italy

The Austrian aluminum company wants to acquire a site of the U.S. Alcoa in Italy.

March 7, 2012

Austrian Railways Looking for Partners

ÖBB (Austrian Railways) wants to re-launch its foreign markets with local partners. After 2008, ÖBB had to downsize operations abroad.

February 28, 2012

Hypo Tirol Withdraws from Italy

The Tyrolean regional bank decided in favor of a downsizing strategy. The Italian market should be served through Innsbruck.

February 23, 2012

Austria Will Not Get „AAA“ Back in Near Future

The economist at the German Deka bank, Ulrich Kater, does not think that Austria will be upgraded within the next years.

February 22, 2012

„Bank Austria´s Brand Will Remain“

Last year, it was said that Bank Austria´s brand will be abandoned. According to Helmut Bernkopf, board member at UniCredit, Bank Austria´s private banking business will be strengthened.

February 18, 2012

Strabag Awarded for Major Order in Italy

The Austrian construction group will build a highway near Milan, Italy. The order volume totals € 1.7bn.

February 18, 2012

Slight Sales Increase at Internorm

The Austrian window manufacturer recorded sales of € 311m in 2011, which is a rise of 2.0% against 2010. Exports to Germany grew disproportionately high.

February 16, 2012

Cernko: „Triple A Only in the Medium Term“

Bank Austria´s CEO Willibald Cernko does not think that Austria re-gains its “AAA” status within the next three years.

February 16, 2012

Blizzard Confirms Turnaround

The Austrian ski manufacturer could achieve profits again. Nevertheless, Blizzard´s management demonstrates cautious optimism.

February 4, 2012

No Further Rise in Insolvencies Expected

The bad debt insurers Euler Hermes and Prisma expect business insolvencies to stagnate in 2012.

February 2, 2012

New Records for Viennese Tourism

In 2011, the Austrian capital registered 11.4 million guest nights, which is a new record.

January 24, 2012

Moderate Growth at Darbo

The Austrian jam producer Darbo could continue ist growth course in 2011. Sales were up by 2.5%.

January 23, 2012

VBAG No Systemic Bank Anymore

After the sale of VBAG´s subsidiary VBI to Russian Sberbank, the bank will not be systemic anymore, the Austrian Financial Market Authority announced.

January 21, 2012

New Record in Agricultural Exports

In 2011, Austrian food exports exceeded € 9.0bn for the first time.

January 21, 2012

Austrian Banks Hold € 18bn in Foreign Sovereign Bonds

At the end of October 2011, the exposure of Austrian banks in foreign sovereign bonds was € 18.1bn. The largest volumes are invested in Poland and Italy.

January 19, 2012

Downgrade: „It´s Time to Take Action“

The downgrade of Austria´s rating from “AAA” to “AA+” caused mixed reactions. The Austrian economy urges for structural actions.

January 15, 2012

South Tyrol Claims Economic Independence

In order to reach the same economic growth level of Germany or Austria, South Tyrol offers € 15.0bn to Italy.

January 12, 2012

Experts Consider Sale of Bank Austria

After the sluggish capital increase of UniCredit, experts do not exclude a sale of Bank Austria, which operates the CEE business.

January 10, 2012

Concerns Over Bank Austria´s Holding Company

Share prices of the Italian UniCredit fell drastically over the last days. The major bank urgently needs a capital increase.

January 7, 2012

Hypo Alpe Adria Gets More Time to Build Up Capital

The Carinthian nationalized bank has to raise its own funds ratio to 12%. The Financial Market Authority granted a deadline extension of nine months.

December 30, 2011

Bank Austria Expects Positive Results

In spite of high losses in the third quarter, the subsidiary of the Italian UniCredit forecasts slight, but positive results.

December 28, 2011

UniCredit Plans to Abolish “Bank Austria” Brand

The Italian group will rename several subsidiaries in order to standardize its brand presence.

December 22, 2011

Bank Austria Reviews Strategy for CEE

In its expansion strategy, the bank focuses on four countries. Plans for Hungary and Romania are stopped, up to 450 jobs will be cut.

December 17, 2011

Hypo Tirol Needs Capital Increase

The Tyrolean bank suffers from a low equity capital quota. After major write-offs in Italy, the core capital amounts to 5.8%.

December 7, 2011

Only Small Increase in Exports in 2012

After a substantial growth in 2011, OECD expects only a slight rise in Austrian exports.

December 6, 2011

Further Write-Offs at Hypo Tirol Possible

The Tyrolean bank could make further write-offs in 2012. Non-performing loans of € 30m in Italy are still in the books.

December 5, 2011

Hypo Tirol Expects Loss of € 110m

The Austrian regional bank’s result will be impacted by major write-downs of non-performing loans in Italy.

December 2, 2011

Jobs to be Cut at Bank Austria

After the announcement of high write-offs yesterday, the Austrian subsidiary of UniCredit will reduce its staff from 10,800 to 10,000 by 2015.

November 15, 2011

High Losses for Bank Austria

Due to high write-offs in Ukraine and Kazakhstan, losses amount to € 600m in the third quarter. The first nine months bring profits of only € 4.5m.

November 14, 2011

Felderer: “Austria’s Triple-A at Risk”

The head of the IHS warns against a spillover of the Italian crisis and calls for a national debt brake.

November 9, 2011

Agricultural Exports Show Significant Rise

The Austrian agricultural exports reached almost their all-time high from 2008. Especially Italy is becoming increasingly important.

October 29, 2011

Hypo Group Plans to Sell Austrian and Italian Subsidiary

The nationalized bank continues its downsizing program. Major parts shall be privatized again now.

October 25, 2011

Novomatic Continues its Success in Italy

Novomatic celebrates a historic milestone in Italy, Europe’s largest gaming market. Italy is now operating the 10,000th video lottery terminal produced by Novomatic in Gumpoldskirchen, Austria.

October 20, 2011
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