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Czech Budget Deficit to Remain Below Approved Mark
The budget deficit in the Czech Republic increased to CZK 47.7bn in October from CZK 38.2bn in September.
November 4, 2013
Austria: Liquidation No Option for Hypo Group
Nationalized-by force Hypo Group Alpe Adria, which is struggling under liabilities running in the billions, will not be closed. OeNB rejects rumors about establishing a bad bank
November 4, 2013
RBI: Rothensteiner Opposed Payout Block
The head of the Raiffeisen Centrobank and Chairman of RBI’s (Raiffeisen Bank International) supvervisory board Walter Rothensteiner is critical of a capital increase by a payout block.
October 31, 2013
Hypo Group to be Renamed after Sale
After the closing of the sale future owner of Hypo Group Alpe Adria Sanjeev Kanoria from the UK with Indian origins intends to rename Hypo Group.
October 31, 2013
Lopatka: EU Enlargement Process of Western Balkans Decisive for Austria
“Non-Enlargement” of Western Balkan states would be fatal for Austrian businesses operating in the region and the national economy.
October 31, 2013
World Bank: Croatia Showing Progress
Despite notable progress the country slipped back to beigt 89th out of 185 countries in the ranking “Doing Business” by the World Bank.
October 31, 2013
Immofinanz to Build Shopping Center in Poland
With Warbud SA, the general contractor, listed real estate company Immofinanz will establish a shopping center for around € 95m in Poland.
October 30, 2013
Cernko: Bank Shops in Austria Have to Be Reduced
In spite of the banks’ progresses Austria still has a high densitiy in bank branches.
October 30, 2013
Erste Group Expects Operating Result to Decline Significantly in 2013
Erste Group posts net profit of EUR 430.3 million in the first nine months of 2013; risk costs decline.
October 30, 2013
Czech Republic: Monetary Easening Not an Option for CNB
Improper exit policy could cause currency swings or inflation, according to expert.
October 29, 2013
Dispute about Gas between Russian and Ukraine about to Escalate
According to Russian energy giant Gazprom, Ukraine has not yet paid deliveries of natural gas in the amount of around € 639m.
October 29, 2013
Romania: Taxes Expected to Be Raised
The local press reports that numerous anonymous sources from the larger ruling party say that the executive is considering a hike in profit and income tax.
October 28, 2013
Poland: T-Bonds not to Affect Budget Deficit
According to GUS, next year’s budget deficit will not be impaired by the transfer of treasury bonds and other assets.
October 28, 2013
Voestalpine to Construct New Plants in China
The Austrian steel manufacturer will invest € 450m in new facilities and plans to triple revenues until 2020.
October 28, 2013
Albania: World Bank Satisfied with Progress
Piero Cipollone, Executive Director of the World Bank Group visited Albania from October 21-22, 2013. In his role as Executive Director, he represents Albania’s interests as a shareholder on the World Bank’s Board.
October 25, 2013
Bulgarian President Calls for TTIP
Bulgaria’s economy would benefit from a free trade agreement between EU and USA.
October 25, 2013
Czech Republic: Four Banks too Big to Fail
CNB has determined four domestic banks that could potentially endanger the country’s financial system in case of bankruptcy, as reported by daily “Hospodarske noviny” (HN).
October 24, 2013
ECB: “Uniform Assessment for Banks Important Step for Europe”
Assessment of ECB is an important step in the preparation of the single supervisory mechanism.
October 24, 2013
Czech Republic: Singer Nominated Central Bank Govenor of the Year
Miroslav Singer, govenor of the Czech National Bank (CNB) won the Central Bank Govenor of the Year for Emerging Europe 2013 presented by Emerging Markets Magazine.
October 23, 2013
Serbia Wants to Become Full EU Member Asap
The Western Balkan is serious in building a relationship with the European Union.
October 23, 2013
Slovenia: Govenor of National Bank demands “Change of Mentality”
At a lecture planned by the Institute for Middle-East and Balkan Studies (IFIMES), Bostjan Jazbec, govenor of Banka Slovenije, pointed out that the country could only blame itself for the current state it was in.
October 23, 2013
Austrian Banks Expected to Pass Auditing
According to the financial supervisors, the Austrian banks are likely to pass the ECB’s (European Central Bank) auditing since there are no significant adjustment requirements.
October 23, 2013
Bill Gates Becomes Second-Largest Shareholder in FCC
Spanish construction company and parent company of Austrian Alpine has a new shareholder: Founder of Microsoft Bill Gates has aquired a participation of around six percent.
October 22, 2013
Uniqa to Aquire Western Balkan Insurance Companies
Listed insurance company Uniqa will take over Croatian and Serbian affiliates of Swiss insurance group Baloise (Basler) to strengthen its market position in the Western Balkan states.
October 22, 2013
German Rail Manufacturing Plant of Voestalpine to be Closed
At the end of October voestalpine will shut down its rail manufacturing plant TSTG Schienen Technik GmbH & Co KG in Duisburg, Germany.
October 21, 2013
Hypo Group Reigned by Greed and Criminal Activities
In an interview with Austrian daily “Standard“ forensic expert of nationlized Hypo Group Christian Böhler revealed that former managers of the bank enriched themselves personally.
October 21, 2013
Telekom Austria: No Need for Capital Increase
Against all rumors, Telekom Austria is doing just fine. As reported by “Handelsblatt” insiders claim that a capital increase, which was speculated on, is currently not an issue.
October 18, 2013
Nowotny Demands Same Rules for All Banks
Govenor Nowotny urges for a discussion about the capital requirements (Basel III) for banks, which applies only for the major banking institutes in the US but for all banks in Europe.
October 18, 2013
RBI Considers Participation in Hypo Group’s Bad Bank
In a radio interview with “Ö1”, Karl Sevelda, CEO of Raiffeisen Bank International (RBI), announced that he regards a particpation of his bank as possible.
October 18, 2013
Bulgaria to Encourage Chinese Investments
Investments from China in Bulgaria currently come at € 85m, reports SME Times.
October 18, 2013
Mitterlehner: “2014 Will Become Significantly Better“
Austrian Minister for Economy Reinhold Mitterlehner considers the Austrian economy to be in a spirit of optimism as an upturn in Europe has become evident. According to him, 2014 is supposed to become “significantly better” than 2013.
October 17, 2013
Austria: RBI Expects Stabilization
Business in CEE seems to be in an up again. RBI is preparing for an IPO at the Warsaw stock exchange.
October 17, 2013
Austria: Voestalpine Expects Same Results as 2012
CEO Wolfgang Eder expects the same level in profits as last year.
October 17, 2013
Austria: Decisions about Hypo Group Expected This Year
Decisions about the future of problem bank Hypo Alpe Adria will in all likelihood be delayed.
October 16, 2013
Bulgaria Supports Trans Adriatic Pipeline
During yesterday’s world media meeting, on behalf of his country Bulgarian President Rosen Plevniev expressed his support of the Trans Adriatic Pipeline project (TAP).
October 16, 2013
Ukrainian Gas Pipeline Key Issue for EU Commission
A gas pipeline plan in the Ukraine is among the EU Commission’s key infrastructure projects.
October 16, 2013
Poland to Keep VAT Rates The Same Until 2015
In order to cut debts, the Polish government decided not to lower the level of VAT.
October 15, 2013
Russian and Ukrainian Oligarchs Interested in RBI’s Affiliate
The Ukrainian affiliate of Raiffeisen Bank International (RBI), Bank Aval, has become the object of desire for Russian billionaire Fridman and Ukrainian banker Lagun.
October 15, 2013
Polish Airline LOT Staves off State Aid
Because of the effective restructuring measures, the airline carrier has fended off the need for a capital injection by the Polish state, accordint to Deputy Treasury Minister Rafal Baniak.
October 15, 2013
Ukraine’s EU Accession: Commission Still Positive
Stefan Füle, EU Commissioner for Enlargement and European Neighborhood Policy underlined once more Ukraine’s significant progress leading the country close to the European Union.
October 14, 2013
RBI Issues EUR 500 Million of Supplementary Capital
Strengthening of capital structure provided by this measure.
October 10, 2013
Polish Government to be Rearranged
On Wednesday Prime Minister of Poland Donald Tusk announced that there will be personnel changes in November within the government which will be presented in November.
October 10, 2013
Gazprom May Face Proceedings by Austrian OMV
OMV considers arbitral proceedings against Russian Gazprom in case no joint solution will be found.
October 9, 2013
Bratusek: “We Are Paying for Your Debts”
On Tuesday Slovenian Prime Minister Alenka Bratusek presented the budget draft for 2014 and 2015 to the members of parliament.
October 9, 2013
Hungary and Croatia to Solve MOL/INA Issue
Both Hungarian Minister of Foreign Affairs Janos Martonyi and his Croatian counterpart Vesna Pusic intend to solve the issue between Hungarian MOL and Croatian INA.
October 9, 2013
Serbia Gets Support by Former Italian Foreign Minister
On its path to EU integration, Serbia gets further well-known support.
October 8, 2013
IMF Forecasts Only Minimal Growth for Austria in 2013
The International Monetary Fund (IMF) forecasts not even one half percent of GDP growth this year for Austria. However, 2014 has better chances for accelerated growth.
October 8, 2013
Poland: Amazon to Establish Three Logistic Centers
Leading online retailer Amazon will open three major logistic centers in Poland. According to the company’s own proclamation, this step does not relate to the latest striking problems in Germany.
October 8, 2013
Fekter Presses for Provisional Budget Financing
Finance Minister Maria Fekter (ÖVP) does not count on the government to present a budget draft in time, which was scheduled October 22 and involves the Finance Act until the end of the year.
October 8, 2013
Austria: President Prefers Grand Coalition
President Heinz Fischer has confirmed his wish for the formation of a grand coalition as this would be “the most reasonable solution”, according to him. Other possibilities were afflicted with too many uncertainties.
October 7, 2013