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Italy
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
Austrian Railways to be Widened
The EU Commission declares the Austrian South Axis to be strategically important.
October 19, 2011
Hypo Group: „Need Time, not Cash“
Gottwald Kranebitter, CEO of the Austrian nationalized Hypo Group emphasizes the independence from further state capital.
October 18, 2011
Lower Profits for Verbund´s Subsidiary Sorgenia
Sorgenia, the Italian Subsidiary of the Austrian energy corporation Verbund, reports a drastic decrease in net income from € 61m to € 18m. Sales were down by 8.5%.
October 18, 2011
Verbund´s Subsidiary Expands in Italy
Sorgenia, the Italian subsidiary of the Austrian energy group Verbund, now provides electricity also for private households.
October 11, 2011
Austrian Food Exports are Booming
About 66% of the domestic food production is being exported. Germany remains the most important foreign market.
October 10, 2011
UniCredit: Sale of Bank Austria?
According to market rumors, the Italian bank considers to sell its Austrian subsidiary in order to strengthen its own position. Bank Austria´s CEO Cernko denies fiercely.
October 8, 2011
Kärntner Sparkasse Finalized Withdrawal from Italy
The Carinthian bank will close its operating business in Italy. The branches have been overtaken by the South Tyrolean “Südtiroler Sparkasse”.
October 8, 2011
Generali Austria Report Small Rise in Premiums
The Italian insurance group shows a small rise in premiums in spite of a difficult Austrian insurance market.
October 5, 2011
New Difficulties for Brenner Tunnel
The project of the alpine tunnel between Austria and Italy, which is the core of a trans-European axis, faces new problems. The Italian government plans to tender the license for the highway Europe-wide.
September 12, 2011
Italian Strabag subsidiary Wins € 161m contract in Tuscany
Adanti, the subsidiary of the Austrian building company will upgrade the State Road 223 between Grosseto and Siena. Adanti´s share is 65%.
September 7, 2011
Novomatic Continues on Growth Course
The Austrian gaming machine manufacturer achieved a plus in revenue of 17% in the first half of the year. EBIT remained stable at € 108.6m.
August 30, 2011
ADX Buys Back 20% Interest in Lambouka
The Austro-Australian oil and gas exploration and appraisal company increases its interest in the Tunisian prospect area to 50%.
August 17, 2011
Kärntner Sparkasse Starts Withdrawal from Italy
The Carinthian regional bank is closing down two branches as a consequence of the economic crisis and new capital requirements.
July 26, 2011
Verbund’s Sorgenia Starts Eco-Subsidiary in Italy
Sorgenia Green is planning to invest € 500m in geothermal energy and hydro power projects in the next five years.
July 26, 2011
Hypo Alpe Adria Opens New Branches in Italy
The Carinthian bank is expanding its business in the neighboring country although the subsidiary will soon be in the hands of a new owner.
July 19, 2011
Helmut Bernkopf New Head of UniCredit’s Private Banking Division
Bank Austria’s Head of Corporate and Investment Banking moves up the career ladder and becomes boss of the parent company’s Private banking division.
July 12, 2011
Binder+Co Takes Over Italian Mechanical Engineering Company
Through the acquisition, the Austrian machine and plant manufacturer enlarges its portfolio and expands its sales network in the Mediterranean region.
July 12, 2011
Austria’s Exposure in Italy: € 16.5bn
Domestic banks’ exposure in the neighboring country is much greater than in Greece, but smaller than in Eastern Europe.
July 11, 2011
ÖBB’s Debt Will Amount to € 30bn in 2020
Large infrastructure development projects will almost double the Austrian Federal Railways’ debt. In relation to other European countries, Austria spends the second highest amount per capita on the expansion of rail networks.
July 4, 2011
Verbund: Speculations about Increase in Sorgenia Stake
The Austrian electricity company might sell its shares in Poweo and instead acquire its joint venture partner’s stake in Sorgenia.
July 1, 2011
Hypo Group: End of the First Round in the Bidding Process
Today, Friday, was the closing date for the submission of tenders for Hypo Group’s Austrian business. The sale process is expected to take several months.
June 17, 2011
Palmers on the Way Back to Black Figures
The Austrian lingerie group’s results are still negative due to the acquisition of Lejaby. An expansion of the Palmers brand is planned in Germany and CEE.
June 15, 2011
Verbund Evaluating Future Options for Sorgenia
The Austrian electricity company and its partner, the Milanese industrial holding CIR, will decide about the future shareholder structure of their joint venture.
June 9, 2011
ÖBB with Capital Injection for Its Italian Freight Business
The Austrian Federal Railways’ subsidiary Linea needs additional funding in order to cover its last year’s losses of € 5.8m.
June 9, 2011
Stable PIGS-Exposure of Austrian Banks
The last quarter of 2010 has brought only minor changes in the total amount of lending to the four countries in southern Europe by Austrian banks.
June 6, 2011
Hypo Alpe Adria to Sell its Italian Subsidiary
The Carinthian bank intends to divest its operations in the neighboring country. The subsidiary achieved a profit of € 10.82m in 2010.
June 1, 2011
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