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Leaders

Austria: Still No Clarity in Hypo Group Disaster

The Austrian parliamentary parties continue to shift the blame onto each other. Details still have not been presented yet.

February 17, 2014

Serbia: Fast Implementations of Reforms Crucial

Tanja Miscevic, chief negotiator in the EU accession talks, announced on Sunday that elections in Serbia are not slowing down the process in European integration.

February 17, 2014

Government Downplaying Effects of Hypo Group Desaster

Today, both Chancellor Werner Faymann and Finance Minister Michael Spindelegger had to explain their actions in regard to Hypo Group Alpe Adria in parliament.

February 17, 2014

Kurz: “We Want Serbia to Join EU ASAP”

According to the Austrian Foreign Minister, the prospect of an EU membership could help accelerate the implementation of reforms.

February 14, 2014

EU Puts Limit to State Aids for Hypo Group

So far, € 4.8bn in capital aids had to be injected into ailing bank Hypo Group Alpe Adria. According to an EU statement, the Austrian state is only permitted to spend € 3.65bn on Hypo Group.

February 14, 2014

Slovakia: Vote of No Confidence against PM Failed

The vote of no confidence against Prime Minister Robert Fico failed in parliament.

February 14, 2014

Serbia: FDI of Great Importance for Economy

According to Deputy Prime Minister Vucic, the country’s biggest problem was the rate debt rate and fiscal deficit.

February 14, 2014

IHS Rejects Hypo Group’s Bankruptcy

According to Keuschnig, it is also a question about a “national bankruptcy“.

February 13, 2014

Austria: RBI to Pay Back State Capital in March

€ 1.75bn in state aid will be transferred around March 15 if the Financial Market Authority agrees to the repayment.

February 13, 2014

Spindelegger: “Hypo Already Burdened Budget in Past”

The government has still not yet published figures in regard to the current fiscal burden emerging from the winding-up of problem bank Hypo Group Alpe Adria.

February 13, 2014

Singer: “Forex Interventions Were Right Measures”

Miroslav Singer, Governor of the Czech National Bank (CNB), considers the forex intervention and the weakening of the Czech Crown as the right measures in the light of the most recent inflation figures.

February 13, 2014

Testimony Against Former Kazakh Diplomat

Today, a press conference about suspected damaged persons by former Kazakh ambassador to Austria, Rahat Aliyev, who is alleged to have disappeared in Malta, will take place at the Media Quarter Marx in Vienna.

February 13, 2014

Immofinanz Kicking Off IPO of Buwog

Listed real estate company Immofinanz is kicking off its inital puplic offering of residential real estate affiliate Buwog.

February 13, 2014

Hypo Group: Emergency Sitting in National Assembley Fixed

An extraordinary session in the National Assembley will take place next Monday in regard to Hypo Group Alpe Adria.

February 12, 2014

Cernko: Wealthy to Support R&D in Austria

The CEO of Bank Austria calls upon the Austrian government to take into consideration the funding of research and development by wealthy individuals and regard this as part of their “tax duty”.

February 12, 2014

Hypo Group: Bad Bank Active at Least 10 Years

Austria’s rating by Standard & Poor’s (“AA+”, stable outlook) is currently not compromised. Because of the establishing of the bad bank the debt rate will rise four to six percent.

February 12, 2014

Hypo-Disaster: Harsh Criticism from Opposition

The opposition parties have expressed their unanimous criticism about the government failing to come to a joint decision with the Austrian banks and consequently forwarding all costs to the taxpayers.

February 11, 2014

Ukraine: Tough Market for Foreign Banks

The coming two years will be challenging for foreign banks operating in Ukraine.

February 11, 2014

Vienna Insurance Group Shines in the Czech Republic

VIG continues to expand its market leadership in its largest CEE market.

February 11, 2014

Austria: Hypo Group Becomes Fiasco for Taxpayers

The most expensive solution for the winding up of troubled Hypo Group becomes imminent.

February 11, 2014

Austria: Bank Participation for Hypo Off

A participation model with Austrian banks can be ruled out for ailing Hypo Group. Instead, a more expensive version will be applied.

February 10, 2014

CEE: Still Growth Market in Real Estate Sector

The region is still a growth market in the real estate sector even after the crisis. However, the legal situation in some CEE countries can be a pitfall to real estate companies.

February 10, 2014

Ukraine: RBI Examines Offers

Raiffeisen Bank International (RBI) has received a total of twelve offers for its Ukranian affiliate.

February 10, 2014

Serbia: Inflation Requires New IMF Agreement

In the light of a devaluation of the Dinar Serbia needs a new agreement with the IMF to improve funding and accelerate the realization of reforms.

February 10, 2014

Spindelegger Insists on Austrian Bank Secret

On Friday the Finance Ministry confirmed to the Austrian Press Agency (APA) that there is “momentum in the field” in regard to disclosure of information about bank accounts of foreigners.

February 10, 2014

Vienna Insurance Group Enters New Market

Acquisition of the Moldovan insurer Donaris.

January 31, 2014

Hungary: Stable Economy, Weak Currency

According to Prime Minister Orban the volatility of the Hungarian Forint is based on global factors.

January 31, 2014

Austrian Government Skirting around Decision over Hypo

A paper reporting about the four options for downsizing Hypo Group has not been published by the government yet.

January 31, 2014

Poland: Economic Growth in 2013 above Expectations

GDP growth in Poland came at 1.6 percent year-on-year in 2013 which is 0.1 percent above expectations.

January 31, 2014

Austrian Industrial Sector only Sees Weak Recovery

The Federation of Austrian Industries (IV) warns about a fragile economic recovery.

January 30, 2014

Poland: NBP Sees No Reason for Weakening Zloty

According to Eugeniusz Gatnar, board manager of the National Bank of Poland (NBP), there was no fundamental reason for monetary intervention.

January 30, 2014

VIG to Do Up Romanian Division

Difficulties in Romania and Italy for Vienna Insurance Group (VIG) lead to a massive decline in profits.

January 29, 2014

WKO Rejects Further Financial Burdens for Banks

According to the Austrian Chamber of Commerce (WKO), the financial burdens of banking institutes in Austria are significantly higher than those of their competitors in other EU member states.

January 29, 2014

Euro-Introduction: Cutting Debts Precondition for Poland

Finance Minister Mateusz Szczurek stressed that cutting debts was a key condition for Poland before it could be admitted to the single currency union.

January 29, 2014

Slovenia: Dispute with Croatia Just Begun

Slovenian Foreign Minister Erjavec announced to continue dispute against Croatia.

January 29, 2014

Austria: Government Makes € 1bn for Hypo Group Available in Budget

Nationalized problem bank Hypo Group Alpe Adria has listed a need for state subsidies in the amount between € 400m and € 900m in this year’s downsizing plan.

January 29, 2014

S&P to Establish CEE Center in Poland

Warsaw will be the new CEE focal point of Standard&Poor;’s (S&P) as the US rating agency announced establishing an office in Warsaw.

January 29, 2014

Capital Increase at RBI Hungary

RBI (Raiffeisen Bank International) will make a capital injection of € 55m in its Hungarian affiliate

January 28, 2014

Austria: Opposition Presses for Information

The Austrian Greens demand information in regard to problem bank Hypo Group Alpe Adria.

January 28, 2014

New Czech Government in Dispute

The new Czech government is in dispute even before it was officially sworn in.

January 28, 2014

Poland: New Indices at WSE

GPW, the operator of the Warsaw Stock Exchange (WSE) will introduce two new indices.

January 28, 2014

Austria: Bank Particpation Still Uncertain

It is still unclear whether the Austrian banks will participate in a downsizing construction of Hypo Group. First results will be presented in February

January 28, 2014

OECD Shows Great Concern over Hungarian Economy

According to the OECD, the country’s recovery from recession will be weak in 2014 and 2015

January 27, 2014

Nowotny: “We Want Clarity“

The governor of the Austrian National Bank presses the government for swift actions to find an acceptable downsizing solution for Hypo Group. Further steps will only be made in February.

January 27, 2014

Restrained Optimism in Polish Financial Market

According to Finance Minister Szczurek, the Polish Financial Market will have to face another challenging year.

January 27, 2014

Austria: OeNB Forecasts Modest Economic Growth

According to the Austrian National Bank (OeNB) economic growth in Austria only came at 0.3 percent last year.

January 24, 2014

Czech Republic: New Government Appointed in Late January

Zeman expected to appoint even “problematic” candidates.

January 24, 2014

RBI Not to Be Sold to Hungarian State

Hungarian Minister Varga announced that the Hungarian state had no interest in taking over RBI’s local affiliate. Instead, RBI announced that staying in Hungary was “the right decision”.

January 23, 2014

Eurozone: Highest Economic Growth in Two Years

The purchase manager index for the private economy increased to 53.2 points up by 1.1 points, as published by Markit research institute on Thursday.

January 23, 2014

Poland: PKO BP Bond Rated A2

Rating agency Moody’s gave an “A2” with a negative outlook on the € 500m bond by Polish key lender PKO BP.

January 23, 2014
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