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Labor Market Policy
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
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
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
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
Alpine: Work to be Resumed At Construction Sites
Time pressure grows. Work at the closed down construction sites of bankrupt Alpine it to be resumed soon.
June 26, 2013
Zumtobel to Close Plant in Austria
Tridonic, which is part of listed light manufacturer Zumtobel Group, will close its plant in Fürstenfeld in the province of Styria. 100 employees will lose their jobs.
June 25, 2013
Alpine: Biggest Bankruptcy in Austrian History
Bankrupt-gone construction company Alpine operates at 1,400 construction sites and is supposed to complete orders in the amount of € 800m. The shutting down of the enterprise has been decided.
June 25, 2013
Erste Group to Pay Back € 1.8bn in State Aid
The Austrian banking institute plans on not only paying back its debts at the state but also to significantly increase equity capital.
June 24, 2013
Last Try to Save Polish Airline LOT
Poland’s National Treasury starts a final attempt at saving Polish Airlines LOT.
June 21, 2013
Alpine-Insolvency: 80 Companies Affected
After an analysis by credit protection association Kreditschutzverband 1870 (KSV1870), the majority of around 1,400 suppliers and subcontractors is not affected by the construction company’s bankruptcy.
June 21, 2013
Austria: Reduction in Working Hours at ÖBB
So far, the trade association of railways at the Austrian Chamber of Commerce (WKO) has rejected the reduction of working hours at the Austrian Railways (ÖBB).
June 20, 2013
Eder Appeals for Reindustrialization in Europe
In an interview with Austrian daily „Kurier“, Wolfgang Eder, CEO of Austrian steel producer voestalpine talks about the future of the European steel industry and the differences to the US energy policy.
June 20, 2013
Alpine: Thousands of Jobs At Risk
Alpine’s Insolvency could cost thousands of people’s jobs. According to Social Minister Rudolf Hundstorfer, the Social Ministry would utilize all means to prevent a worst-case scenario. Alpine's affiliate in Germany is filing for bankruptcy as well.
June 20, 2013
Alpine Facing Bankruptcy
The restructuring of Austria’s second biggest construction company Alpine has failed. The enterprise therefore has to face bankruptcy.
June 19, 2013
Croatia: Agrokor Becomes Biggest Retailer in SEE
After the take-over of Slovenian chain of retail stores Mercator, Croatian corporation Agrokor employs 60,000 persons in the region of former Yugoslavia.
June 18, 2013
Austria: „Death Blow for Economy“
The Austrian Economic Association (Wirtschaftsbund) announced that the realization of all demands in the Austrian Trade Unions’ (ÖGB) leading proposal would come at € 21.9bn. The Austrian economy would be burdened with € 14bn.
June 17, 2013
Slovenia: Mercator to be Finally Sold
It is the ninth sale attempt for Slovenian trade chain Mercator today, but it could be finally sealed. Croatian corporation Agrokor is the interested party. A dozen owners will decide about the retail chain’s fate.
June 14, 2013
Bulgaria: Sofia One Of Best European Destination for Manufacturing
The Bulgarian capital Sofia was labeled as one of the best destinations for opening a manufacturing plant in Europe.
June 13, 2013
Greece: Public Broadcast Station Shut Down
Greece has pulled the plug for the public broadcast station ERT yesterday.
June 12, 2013
Austria: Wienerberger Alarmed About Shrinking Residential Building
Building material group Wienerberger is alarmed about the declining figure in residential building even though the market is significantly undersupplied with affordable housing space.
June 12, 2013
Serracchiani: „Will Do Everything I Can“
In an interview with Austrian newspaper “Kleine Zeitung“ Debora Serracchiani, new regional president of the province Friuli in Italy announced to do everything so that Hypo Group Italy will survive.
June 11, 2013
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