Labor Market
Romanians Not Satisfied with Wages
More than half of Romanian employees claim not to be paid enough for their work.
August 22, 2013
Eurozone: Strongest Growth Rates in Two Years
The Eurozone continues to recover. Businesses in industrial production and in the service sector increased to a new high in more than two years. However, growth in both sectors is still not enough for the creation of new jobs.
August 22, 2013
Leitl: “Austria Screwed Up”
If the US, as the perpetrator of the financial and economic crisis, shows two percent in economic growth, while Austria only 0.2 percent, then this was a “disgrace”, Leitl announced during the economic forum in Alpbach.
August 21, 2013
Austrian Division of Hypo Alpe Adria Managed to Turn A Profit
In the past half year the Austrian division of nationalized bank Hypo Group made small profits.
August 20, 2013
Austria: Spindelegger Demands Flexibility of Working Hours
Working hours have become the main issue of the election campaigns. The dispute was incensed by the claims of Minister of Economy Mitterlehner to allow up to twelve hours of work per day.
August 19, 2013
Austria: Alpine Creditors Register € 2.29bn
The downfall of construction company Alpine, the biggest bankruptcy in the history of the second Republic, has not been finished yet.
August 19, 2013
Poland´s Economic Growth Accelerates
In the second quarter of 2013, the annual growth rate came at 0.8%. Due to combined monetary and fiscal measures, the outlook is positive.
August 17, 2013
Austria: Alpine-Energie to be Taken Over by Triton
Former affiliate of construction company Alpine Bau Alpine-Energie, which is based in Linz and was temporarily “parked” with a special company, has a new owner.
August 13, 2013
Romania: Significant Drop in Purchase Power
General consumption climate is unfavorable in Europe at the moment.
August 12, 2013
Austria: Spindelegger Wants Reform Government
The next government has to be a “reform government”, according to Austrian Vice Chancellor Michael Spindelegger, since the one in office now has only shown little reform zeal.
August 9, 2013
Austria: Banks Indignant At Chancellor Faymann
Chancellor Werner Faymann has started the election campaign with an attack against the banks. However, CEO of Bank Austria Willibald Cernko points out that the banking industry secures 70,000 jobs in Austria.
August 9, 2013
Romania: Good Prospects for Economic Upturn
In Romania, the inflation forecast for 2013 and for 2014 has been lowered to 3.1 percent which is 0.1 percent less compared to previous figures.
August 9, 2013
Wifo: Economic Growth with Brakes On
Economic upswing will take time. Considering the individual branches an uneven picture emerges.
August 9, 2013
Czech Republic: Will Rusnok Remain in Parliament?
Today, August 7, 2013, the members of parliament in Prague will carry out a vote on confidence on the new government of Prime Minister Jiri Rusnok. It is unlikely that Rusnok will remain in parliament.
August 7, 2013
Czech Republic: Employment is the Highest Since 1998
The total employment in Q2 2013 increased by 64.9 thousand persons compared to the same period of 2012.
August 5, 2013
Croatia: Upwsing Depends on Return of Investors
Vedrana Jelusic, head of EBRD Croatia, thinks that Croatia benefits from the joining the EU. Introducing the euro is no issue yet, she told “Wirtschaftsblatt”.
August 3, 2013
Cautious Optimism in Slovakia
The economic outlook for Slovakia brightens slightly. The export-oriented country benefits from the stabilization in the Eurozone.
August 2, 2013
Austria: Leitl Demands Impulses for Growth and Employment
Enterprises need to be motivated instead of being burded by further taxes, President of the Austrian Chamber of Commerce (WKO) Christoph Leitl argues.
August 1, 2013
Serbia: No Early Elections Despite of Break of Coalition
Dismissal of Finance Minister Mladjan Dinkic. URS is leaving the governmental alliance. Despite of a break of the coalition, there will be no early elections in Serbia.
July 31, 2013
Slovenia: New Record for People Leaving the Country
According to the Statistics Office, the number of Slovenian citizens moving from the country came to a new record in 2012.
July 31, 2013
Trend: Service Industry Drifts to CESEE
Lower costs in the service sector in CESEE countries, particularly Romania, are compensated by higher expenditures in securing quality standards.
July 30, 2013
EVN Forced to Lower Electriciy Prices in Bulgaria
Austrian energy provider EVN is ordered by the regulator to drop electricity prices.
July 30, 2013
Slovenia Lures Russian Investors
Slovenia invites Russian investors to participate in privatization plans.
July 30, 2013
Two Interested Parties for Hypo Alpe Adria Italia
Two investors have shown their interest for the take-over of Italian affiliate of nationalized Hypo Alpe Adria. Banca Popolare di Vicenza and a British-Indian Group are claimed of being interested.
July 29, 2013
Zumtobel Takes Over Chinese Affiliate
Listed light manufacturer Zumtobel Group has taken over the stakes of joint-venture partner Thorn Lighting Tianjin Limited.
July 29, 2013
Slovenia: Economy to Shrink Despite of Austerity Measures
Slovenian economy expected to contract 2.2 percent in 2013. Prior forecast: -1.9 percent.
July 26, 2013
Austria: 82 Percent of Alpine Employees With New Jobs
After the construction company’s bankruptcy, 82 percent of Alpine employees have found a new job again. Around 100 persons are still working on the winding up of the company.
July 25, 2013
Bulgarian Protests As Sign of New Understanding of Values
The great wave of protests in Bulgaria continues to sweep the country. Experts regard the demonstrations as a sign of a new understanding of values.
July 25, 2013
Austria: Economists Predict Rosy Days
The Austrian economy will be growing by 1.7 percent on an annual basis and is developing much better than the rest of the Eurozone, the Austrian Institute for Higher Studies (IHS) predicts.
July 24, 2013
Austria Suffers from Company Exodus
Due to the relocation of businesses, the Austrian state has lost tax intake of € 1.3bn since 2008. The Austrian group taxation model must not be abolished experts of the Austrian Ministry of Finance say.
July 22, 2013
Vienna: Industrial Sector Shrinks
The Viennese industrial sector faces hard times. Not only the number of workers, but also the order intake is decreasing substantially.
July 18, 2013
Austria: Most Risks Do not Come from Eurozone
The greatest risks threatening a continued economic recovery in Austria currently stem from the global economic trend and, to a lesser extent, from the Eurozone, Ban Austria reports.
July 17, 2013
Poland: Economic Upswing not before 2014
Poland´s National Bank NBP expects that the country´s economic performance will not improve visibly this year.
July 16, 2013
Czech Republic: Gloomy Prospects for Economy
The Czech economy is shrinking. According to experts, new Prime Minister Jiri Rusnok will not be able to change much. Enterprises have started to cut back on investments.
July 12, 2013
Austrian Economy Dependent on Neighbor Countries
Austria’s economy is getting through the crisis better than the Eurozone. However, the country owes this partly to neighboring countries.
July 11, 2013
Spindelegger: Fitness Program for Austria
Austrian economy supposed to be boosted by reforms of “Unternehmen Österreich 2025, and a rejection of new taxes.
July 10, 2013
Poland: Measures to Increase Employment
The polish government approved a package of measues becoming effective by 2014 to improve the situation on the labor market.
July 10, 2013
Serbia: Fight against Unemployment Key Aim of Government
Serbia's Government aims to cut down unemployment to below 20 percent and tries to attract new investors.
July 9, 2013
Poland: NBP Downgrades Forecasts for GDP and CPI
The National Bank of Poland (NBP) downgrades GDP and CPI forecasts over next two years.
July 9, 2013
Alpine: Enormous Credit Default Rate
The rate for Alpine creditors declines day by day while the rate of the Trade Unions is immense. Almost all employees of Alpine were looking for help and advice.
July 8, 2013
Austria: Moderate Economic Upturn
After one year of a phase of stagnation, the Austrian economy shows recovery, according to the results of economic indicator by the OeNB (Austrian National Bank).
July 5, 2013
Bulgarian Interior Ministry Going Bankrupt over Mass Protests
According to Interior Minister Tsvetlin Iovchev the security of the public order at the protests has cost the taxpayers BGN 3m.
July 5, 2013
Bank Austria to Close 67 Subsidiaries
UniCredit Affiliate Bank Austria plans to close 67 subsidiaries – a quarter of its 270 stores for private costumers until 2015.
July 3, 2013
Alpine Holding: Insolvency Proceedings Now Official
The insolvency proceedings for Alpine Holding have now officially started at the Commercial Court in Vienna. Liabilities come at € 700m.
July 2, 2013
Crisis in Slovenia Might Take Longer Than Expected
According to the latest economic report by auditing firm Ernst&Young;, the financial crisis in Slovenia will take longer than expected beforehand. However, the country should still be able to avoid international bailout.
July 1, 2013
Alpine: 2,600 Jobs Secured
Social Minister Rudolf Hundstorfer assumes that a lot of Alpine employees will continue to be employed. Former CEO Schiefer announced that Alpine was “clinically dead” when he took over management in April 2013.
July 1, 2013
Austrian Coalition to Take Stock of Legislative Period
In a joint interview with several leading Austrian newspapers, Austrian Chancellor Werner Faymann and Deputy Chancellor and Foreign Minister Michael Spindelegger take stock of the legislative period so far.
June 28, 2013
Austria: So Far Three Construction Companies Involved in Take-Over of Alpine
1,800 employees of bankrupt Alpine can feel relieved. In all probability three Austrian construction companies (Habau, Swietelsky and Hinteregger) will be involved in the regional rescue solution.
June 28, 2013
Austria: WIFO and IHS to Adjust Growth Perspectives Downwards
Experts at the Austrian Institute for Economic Research (WIFO) and the Institute for Higher Studies (HIS) have significantly cut their prognoses for the growth of domestic economy in 2013. However, both institutes are still optimistic for 2014.
June 28, 2013
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