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Labor Market Policy
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Eurozone: Unemployment at 12.1 Percent
A total number of 26.7 million persons in the European Union are unemployed, according to estimates by Eurostat, the statistical office of the European Union,
August 30, 2013
Serbia: SMEs Driver for Economy
Serbia's private sector employs 45% of the total number of employees.
August 30, 2013
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EU Commissioner Sees First Signs of Economic Turn-Around
EU Commissioner for Economic and Monetary Affairs Olli Rehn can see the first signs of an economic turn-around in the European Union.
August 29, 2013
Kapsch: Enormous Problems at Austrian Business Location
President of Federation of Austrian Industries (IV) Georg Kapsch confirms the criticism voiced by President of the Austrian Chamber of Commerce (WKO) Christoph Leitl and several other politicians by the Austrian People’s Party (ÖVP).
August 28, 2013
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Austrian Economy Minister: “No Time for Idle Complacency”
Austrian Minister of Economics and former general secretary of the Austrian Chamber of Commerce (WKO), Reinhold Mitterlehner avoids any dispute with Christoph Leitl, President of WKO but signals a different opinion.
August 27, 2013
Alpine: Former Employees to Receive Wages
Almost 5,000 former employees of bankrupt construction company Alpine can feel relieved as this week the insolvency contingency fund will start with settlements. However, creditors will only be given a rate of five percent.
August 27, 2013
Austria: First Chancellor’s Duel
Chancellor Werner Faymann (SPÖ) and Deputy Chancellor Michael Spindelegger (ÖVP) had their first official chancellor’s duel on TV on Monday. However, people waiting for a major dispute had been disppointed.
August 27, 2013
Faymann: Joint Combat against Unemployment
During a meeting with Slovenian Prime Minister Bratusek and Croatian Prime Minister Milanovic and Austria’s second biggest city Graz, Austrian Chancellor Faymann pointed out the governments’ key tasks.
August 23, 2013
Austria: “Painful Cuts“ at RBI
According to the most recent results, the bank has losses in profits of more then 60 percent. A strict cost reduction program
August 22, 2013
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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
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
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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
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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
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
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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
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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
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
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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
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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
Leitl: „Austrian Enterprises Need Further Growth Impulses“
The Austrian Chamber of Commerce (WKO) commits to budget consolidation but growth is the basis for a balanced state budget.
June 27, 2013
Magna Not to Leave Austria for Eastern Europe
“There will be no impacts on Austria or Styria“, a spokeswoman announced. Instead, a plant in Belgium will “probably” be closed.
June 26, 2013
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