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Massive Drop in the Austrian Service Sector Turnover in 2nd Quarter of 2020
The service sector experienced a major decrease in turnover by 27.9% less than in the same timeframe of the previous year. The sectors "accommodation and gastronomy" and "other economic services" like travel agencies declined at the most.
September 3, 2020
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Austrian Retail Association - Handelsverband raises alarm: every year 560 million Chinese parcels reach Europe without import VAT
More than 10 percent of Austrian retail sales are already generated online, which corresponds to around € 6.8 billion. The problem: half of this online turnover does not arrive at the domestic market, but flows abroad. Particularly problematic is the crossborder business with Asian traders and platforms, especially from China. Currently, 560 million parcels per year are sent to the European Union via Alibaba (AliExpress). 97 percent of these shipments are completely dutyfree and VATfree in the EU and a large part of the remaining 3 percent, at least without import duty.
December 21, 2017
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Insolvent DIY Chain BauMax Ended Its Operations
Insolvent DIY chain BauMax ended its operations completely on Friday with many stores sold to Obi of Germany. Seven stores did not attract a buyer. Some 700 employees in total are at risk of losing their jobs.
October 30, 2015
Niki Lauda Acquires Stakes in Benko's Real Estate Firms
The private foundation of former Formula 1 driver Niki Lauda will acquire 1% of Signa Prime and a 10% stake in Signa Retail.
July 17, 2015
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Billa Invests EUR 100 Million in Bulgaria in Next Years
Supermarket Chain Billa plans to invest some 100 million euros in Bulgaria and to open around 40 new stores.
April 10, 2015
Spar to Relaunch "Huma” Shopping Park in Vienna-Simmering
The starting signal for building work to turn the HUMA Shopping Center into probably the most modern shopping center in the capital has already been given in December 2014. A shopping center with more than 90 shops, restaurants, catering outlets and services, 2000 free parking spaces and 800 jobs is being built at a traditional location in Vienna-Simmering on a gross leasable area of 50,000 square meters.
February 17, 2015
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New Owner E-Tec Brings DiTech Back Into Business
The brand DiTech has been purchased after the bankruptcy by the Upper Austrian Computer Dealer e-tec. Now the newly established DiTech Electronic GmbH starts operations. The first stores open already at the beginning of September.
August 29, 2014
Tengelmann to Launch Online Gardening DIY Chain in Austria
The German online gardening DIY chain GartenXXL, a subsidiary of the Tengelmann group, is setting up in Austria. The range of offered products includes over 20,000 products from brands such as Gardena, Fiskars, Bosch or Kettler. The products shall be offered via gartenxxl.at. After successful launching in Austria, GartenXXL intends to expand to other countries in CEE/CESEE.
July 22, 2014
Austria: Creditors of DiTech Faced With Total Losses
The Austrian computer equipment retailer has filed for insolvency proceedings at the end of March.
May 12, 2014 · Updated: May 13, 2014; 10:55
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Amazon Gets New Warehouse in the Czech Republic
US-based online retailer Amazon will get a warehouse in the EIA informationsystem in the Černovická terasa industrial zone in Brno.
May 12, 2014
German Retailer Metro Faces Massive Losses in CEE
Sales in CEE declined 14.8 percent last year for German retail and wholesale enterprise Metro Group.
May 9, 2014
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Austria DIY Chain BauMax Avoided Insolvency
Austrian leading DIY chain bauMax announced cost saving programs as part of its restructuring measures in Turkey, Romania, Bulgaria and Croatia. BauMax intends to focus on profitable business locations only.
May 9, 2014
Romania: BRD Group Societe General with High Expectations
The Romanian lender intends to increase its lending by four percent in 2014.
April 23, 2014
Industrial Location Austria Losing Attractiveness
Among other things, labor costs and energy prices are too high, according to the Austrian Federation of Industries.
April 16, 2014
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Poland: Banking Industry Expects Improvement in Results
The Polish banking sector expects net profits to increase in 2014.
April 3, 2014
DiTech: Insolvency Postponed
Heavily affected computer equipement trader DiTech has to postpone filing for insolvency proceedings, which was planned today at the Commercial Court in Vienna.
March 14, 2014
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Austria: DiTech to be Taken Over by Investor
Insolvent computer equipment trader DiTech is supposed to be taken over by a German investor with Polish roots.
March 13, 2014
Wifo: Economic Recovery Lacks in Momentum
Economic growth in the Eurozone is still without a major drive. In Austria too, economic recovery is still restrained.
March 11, 2014
Austria: Computer Trader DiTech Declares Insolvency
Viennese hardware computer trader DiTech has slipped into insolvency.
March 10, 2014
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Austria: Unemployment Rate Rises Once Again
Once again the unemployment rate in Austria saw a significant rise. More than 440,000 persons were registered jobsless in February.
March 3, 2014
Bulgaria: FDI Keeps Increasing
FDI (foreign direct investments) increased by € 1,229.4m in Bulgaria in 2013 while equity capital came at € 953.4m last year.
February 18, 2014
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Wifo: Recovery Continues
Early indicators by the Austrian Institute of Economic Research (Wifo) point to a gradual recovery of the economy both in the European Union and in Austria.
February 11, 2014
Serbia: Moderate Economic Growth in 2013
According to the release of the Serbian Statistical Office, GDP is estimated to have grown 2.4% in 2013.
January 2, 2014
Austria: Slight Economic Growth
The Austrian Institute for Economic Research (Wifo) has forecast an increase of the macroeconomic production by 0.2 percent in real terms compared to the previous quarter.
November 14, 2013
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Slovenia: Significant Decline in Business Confidence
Sentiment indicator lower than in the previous month In October 2013 (-13 percentage points) the sentiment indicator was 1 percentage point lower than in September 2013 (-12 percentage points).
October 28, 2013
Amazon to Open Distribution Centers in the Czech Republic
The world’s largest online retailer Amazon plans to create 10,000 jobs in the Czech Republic within the next three years.
October 22, 2013
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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
Czech Republic: No Foreign Exchange Interventions
As the Czech economy shows first signs of recovery, the Czech National Bank (CNB) decided against further monetary instruments.
September 27, 2013
Czech Republic: Recession Is Not Managed Yet
This year, the Czech GDP is expected to contract by 1.1%, the Czech Ministry of Finance forecasts.
September 26, 2013
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Poland Leads Ranking of Top Enterprises in CEE
Credit insurance company Coface has for the fifth time published a study about the Top 500 enterprises in Central and Eastern Europe.
September 24, 2013
Poland: Warsaw Stock Exchange to Introduce WIG30
The new index covers thirty enterprises instead of formerly twenty and reduced the dominance of the banking industry.
September 23, 2013
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Head of Slovenia’s Chief Bank Arrested
Janko Medja, manager of Slovenia’s most important bank NLB, was arrested because of suspicion of corruption.
September 20, 2013
Romania: Austrian Investors Demand Transparency
In an interview with Business Review Romania, Rudolf Lukavsky, commercial counselor for Romania and Moldova at the Austrian Embassy described the downsides and advantages of the economic environment in the country.
September 17, 2013
Spar: Growth Plans In Czech Republic
Retailer Spar has lost a total of € 130m in the past eight years in the Czech Republic. Despite of that, the trade chain has plans of expansion. Particularly the network of frachise stores is supposed to grow.
August 30, 2013
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Retail Trade: Sharp Decrease in Slovenia and Romania, Poland
Volume of retail trade down by 0.5% in euro area Down by 0.3% in EU27.Poland and Romania register strong growth rates.
August 5, 2013
Slovenia: Economic Sentiment Stabilizes
This year, Slovenia will not be able to leave the recession behind. However, the economic sentiment begins to improve in some sectors.
August 5, 2013
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Spar Becoming More Profitable
Spar made profits before taxes in the amount of € 164m last year with food, sport articles and shopping center floor space.
June 27, 2013
Spar: Expanding in Hungary
Spar Austria Group intends to expand the meat plant near Budapest and the entire branch network in Hungary.
April 18, 2013
67 % of Estonians Work in Service Sector
According to the data of the 2011 Population and Housing Census (PHC 2011) of Statistics Estonia, 67% of persons employed in Estonia worked in service sector, 29% in industrial sector and only 4% in primary sector.
March 30, 2013
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Slovakia: Economic Sentiment Indicator Increased to 90.4
The three-month moving average of economic sentiment indicator (ESI) increased by 1,8 points to 90,4 compared with the previous month´s value.
March 30, 2013
Lithuania: Turnover of Enterprises in Retail Increased By 0.9 %
In February 2013, against February 2012, the turnover of enterprises engaged in wholesale and retail trade in motor vehicles and motorcycles was on the increase.
March 30, 2013
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Romania: Positive Outlook on Economy for Next Months
For the months of March to May 2013, experts forecast economic growth of up to 35 % in some sectors.
March 29, 2013
Slovenia: NLB Gets Own Bad Bank
Slovenia biggest bank, Nova Ljubljanska Banka (NLB), is going to establish its own intern bad bank.
March 28, 2013
Czech Republic: Highest Internet Retail Sales in 26 Months
Highest growth rates in internet retail and house order sales and IT/communication equipments.
March 14, 2013
Slovakia: CPI Remains Constant
In February, compared with January, consumer prices did not change in total. Increase in prices only in Education, Food and Health Industry.
March 14, 2013
Slovak Unemployment Rate on the Rise
In January, compared with January 2012, the employment decreased in five surveyed sectors.
March 14, 2013
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Czech Republic: Slight Increase of Consumer Price Index
Consumer prices in February increased by 0.1% compared with January. This rise came primarily from price increases in 'transport' and 'recreation and culture'. The year-on-year growth of consumer prices decelerated to 1.7% in February (1.9% in January).
March 11, 2013
Romania: Slight Increase of GDP for 2012 at 0.1 % on Y/Y Comparison
Record decrease at 24.6 % in agriculture, industrial production better off with decrease of 2.4 %. The highest increase was recorded in IT and communication, services and health/social assistance.
March 6, 2013
Estonia: Turnover in Business Sector Increased by 7 %
2012 proves to be a successful year for the business sector
March 6, 2013
Hungary: GKI Forecasts Budget Deficit of HUF 200 bn
The Hungarian government is in complete opposite to GKI’s statement: forecasts economic growth of 1 % and does not see any concerns.
March 5, 2013
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