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Annual Report of the European Commission: How did Austria do?
The European Commission presented its annual reports on 27 EU member states. How did Austria do? Well, it kinda ended up with a black eye. The report took a pop at Vienna for a number of structural shortcomings, including tax burden on labour, pension and healthcare expenditures, house prices, restrictive regulation in the services markets, stagnating productivity and and not enough action on spreading digital technologies. That isn’t a particularly good report card for the previous coalition government of ÖVP und SPÖ. Let’s see if the new coalition government of ÖVP und FPÖ can make the grade the next time around.
March 11, 2018
Bawag Laying Off Further 180 to 200 Employees
Bawag Bank will optimize its branches and in course of the process will cut 180 to 200 jobs. 70 to 80 of the affected employees are supposed to be sent back to their actual employers - Post AG.
May 3, 2016
Austria: Right-Winged Extreme Party Buoyed by Tailwind
The Austrian right-winged Freedom Party (FPÖ) is using the disappointment over the grand coalition’s inability to tackle major economic issues to its advantage.
May 21, 2014
“Romania Can Never Become the China of Europe”
Stabilization in Central and Eastern Europe (CEE) is becoming stronger. However, the political crisis in Ukraine is causing a feeling of insecurity among the population.
May 15, 2014
Fiat Intensifies Investments in Poland
As reported by Polish daily Puls Biznescu, Italian automotive manufacturer Fiat plans on lauching the production of a new series, similar to the so-called Punto.
May 9, 2014
Austria: Mitsubishi Takes Over Majority Stake in Siemens‘ VAI
The industrial systems subsidiary of Siemens, VAI with the business location in Linz, is sold to Japanese competitor Mitsubishi Heavy Industries (MHI).
May 7, 2014
Pewag Striving for Larger Market Share in US
The Austrian snow chain manufacturer appreciates the label “Made in USA”.
May 6, 2014
Federation of Industries: “Industrial Compact“ for European Competitiveness
The Austrian Federation of Industries (IV) considers the EU entry of Austria as the basis of prosperty and economic growth in the past years. However, now reforms are required to catch up to a global level.
May 5, 2014
Majority of Czech Entrepreneurs Want Euro
According to a survey, more than three quarters of Czech entrepreneurs are in favor of the country adopting the Euro.
April 30, 2014
Austria: Is Spindelegger Suitable as Finance Minister?
On Tuesday the Austrian Finance Minister will hold his first budget speech. Initial figures reveal record debt levels.
April 28, 2014
Serbia: New Government Taking Drastic Measures
New head of the Serbian government Aleksandar Vucic has ambitious plans to reform the state and restructure state finances.
April 28, 2014
Austria: Difficult Market Situation for Selling Bawag
The selling of Bawag PSK proves difficult for its owner which is why an IPO is considered a realistic phasing-out scenario. However, experts doubt that an IPO will be a “highflyer”.
April 24, 2014
Eder: Policy-Makers Have to Make Decisions
Wolfgang Eder, CEO of Austrian steel manufacturer voestalpine, claims not to have heard anything from the Austrian policy makers after he raised criticizm with regard to the Austrian business location.
April 24, 2014
Struggling Insurance Industry
Despite favorable results last year the European insurance market has to face a number of adverse factors.
April 23, 2014
Serbia: “Huge Challenges Ahead”
President Tomislav Nikolic appointed Aleksandar Vucic to form a new Serbian government.
April 23, 2014
Austrians Cautiously Observant
Despite economic recovery the Austrian citizens are still cautiously observant.
April 22, 2014
Industrial Location Austria Losing Attractiveness
Among other things, labor costs and energy prices are too high, according to the Austrian Federation of Industries.
April 16, 2014
Slovakia as a Role Model?
In an interview with Austrian daily “Wirtschaftsblatt”, Tomas Malatinsky, Economy Minister of Slovakia, talked about budget discipline, investments and tax policy.
April 16, 2014
IMF Upgrades Growth for Slovenia
In its latest report the International Monetary Fund has raised its projection for GDP growth in Slovenia.
April 9, 2014
Fitch: Polish Rating Foundations Very Solid
As reported by news portal “Warsaw Voice”, rating agency Fitch considers the Polish credit rating foundations to be very solid.
April 8, 2014
Hungarian Electorial Law Supports Major Parties
Orban is the clear winner of the parliamentary elections in Hungary. He stressed that there are no more conflicts with the EU than any other member state had.
April 7, 2014
Serbia: Effective Measures for Economy
The Serbian Chamber of Commerce considers the measures for economic growth “a very big thing”.
April 7, 2014
Hungary: Clear Victory for Orban
Today, Hungary has held parliamentary elections. Despite controversial and radical reforms, Prime Minister Orban was confirmed.
April 6, 2014
Hungary: Orban Faces Re-Election
Tomorrow, Sunday, Hungary holds national elections. Despite the difficult economic frame conditions in Hungary, the centre-right government is expected to be confirmed for the next four years.
April 5, 2014
Serbian Future Government Needs to Be “Compact”
According to the deputy leader of SNS, Aleksandar Vucic “shall introduce iron discipline in the Government.”
April 3, 2014
VIG: Takeover of Donaris Successful
Acquisition of the Moldovan insurer Donaris completed
April 3, 2014
Austria: “Financial Crisis is Not Yet Over”
Deputy Chancellor and Finance Minister Michael Spindelegger considers the financial crisis not to be completely over.
April 2, 2014
Austria: Industrial Production Loses Momentum
Austrian industry loses some momentum after strong growth at the start of the year.
March 28, 2014
Leitl: “Growth Must Not Mean Less Reforms”
Economic growth is now weaker than in the previous phases of upturn.
March 28, 2014
Austria: Economic Growth Slowly Getting in Gear
Wifo (Austrian Institute of Economic Research) projects economic growth in Austria to revive again only at the end of this year.
March 27, 2014
Serbia: Program for New Government in Progress
The future government will have to implement extensive reforms. Vucic, whose party saw a landslide victory in the parliamentary elections, is working on the government’s program.
March 26, 2014
Poland: Good Starting Point for Economic Growth
Economic growth for 2014 is expected to accelerate to 3.1 percent to 3.2 percent in the first quarter while for the full year it is anticipated to come at 3.5 percent, according to Polish Economy Minister Janusz Piechocinski.
March 26, 2014
Hungary: Orban Striving to Become PM Again
In an attempt to gain another four years as head of the government Hungarian Prime Minister Viktor Orban praises the country’s achievements in the past years since his Fidesz party came into power.
March 26, 2014
Poland: Promising Years Ahead
Poland observes the crisis in Ukraine with great concern, but does not forget to upgrade national resources.
March 25, 2014
Austria: Unemployment Rate to Remain at Record High
The Austrian unemployment rate is expected to remain at a record high even in 2015.
March 25, 2014
Serbia to Continue Talks with IMF
Serbia's Minister of Finance Lazar Krstic announced that an International Monetary Fund (IMF) mission will visit Serbia for talks on a new three-year arrangement shortly after a new government is formed.
March 21, 2014
Fitch: Elections Command Fiscal Consolidation and Reforms
Vucic appears to acknowledge the need for reforms in Serbia.
March 20, 2014
Serbia: Economic Activity Increases Speed
Since the beginning of 2014 economic activity has started to accelerate.
March 19, 2014
Wifo Warns European Council of Economic-Policy Standstill
The Austrian Institute of Economic Research sharply criticizes the current economic policy of the European Union and calls for a change of course to reach the self-defined targets.
March 19, 2014
Serbian President: Vucic is New PM
Serbian President Tomislav Nikolic named Aleksandar Vucic as new Prime Minister.
March 17, 2014
Belka: Poland Should Not Haste into Eurozone
Marek Belka, Governor of the National Bank of Poland (NBP), said that the country did not have to haste to become a member of the European single currency union.
March 17, 2014
Recovery of Austrian Economy Continues
Austrian economy continues its recovery despite weaker upswing.
March 17, 2014
Serbia: Vucic Stands Good Chances of Becoming PM
Vucic is regarded new Serbian Prime Minister in the parliamentary elections.
March 15, 2014
Austria: DiTech to be Taken Over by Investor
Insolvent computer equipment trader DiTech is supposed to be taken over by a German investor with Polish roots.
March 13, 2014
Serbia to Continue Path towards EU
Even after the elections the new government intends to continue the path towards an EU membership.
March 13, 2014
Slovenia: NLB to Break Even in 2014
As part of the restructuring plan, the Slovenian bank is closing branch shops all over the country and downsizing its personnel.
March 4, 2014
Austria: Unemployment Rate Rises Once Again
Once again the unemployment rate in Austria saw a significant rise. More than 440,000 persons were registered jobsless in February.
March 3, 2014
Austria: Solid Growth and Recovery in Industrial Industry
Austria’s industrial recovery continues.
March 3, 2014
Fitch Keeps Slovak Rating Unchanged
Slovakia´s issuer default rating was kept unchanged at “A+”. The outlooks remain stable.
March 1, 2014
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