Romania

How the Ukrainian Humanitarian Crisis Affects Life in Vienna

The humanitarian crisis created by Russia's brutal war in Ukraine can now be felt in Vienna. Read how the crisis is affecting life in Vienna.

April 25, 2022

UN Deputy High Commissioner for Refugees Urged the Security Council to Stop the War in Ukraine

The UN Deputy High Commissioner for Refugees Kelly T. Clements called on the United Nations Security Council to put aside its differences and find a solution to end the war in Ukraine. There have already been 5 million people who have fled Ukraine, and there are another 7 million internally displaced.

April 21, 2022

Meet the New Resident Representative of Romania to the International Organizations in Vienna, HE Mr. Stelian Stoian

The new Permanent Representative of Romania to the International Organizations in Vienna, Mr. Stelian Stoian, recently presented his credentials to the heads of the various organizations. Learn more about Mr. Stoian.

February 23, 2022

ICPDR: Contracting Parties Renew Commitment to Protect the Danube

The contracting parties to the International Commission for the Protection of the Danube River (ICPDR) reaffirmed their commitment to protecting the Danube River Basin at a Ministerial Meeting in Vienna. Read about the Management Plans adopted by the Commission and what this means for the Danube.

February 10, 2022

Minister for European Affairs: The Fight against Migration as a Means of Pressure on the EU

Austrian Minister for European Affairs Karoline Edtstadler embarked on a multi-country trip to Latvia, Lithuania, Cyprus, and Romania. The central topic of discussion is the increasing migratory pressure on the EU’s external borders, especially from Afghanistan and Belarus. Minister Edtstadler emphasized the need for border security at the EU's external borders and for targeted sanctions on Alexander Lukashenko's regime.

September 15, 2021

Vienna Economic Forum: Ambassador of Romania Becomes New Member of the Ambassadors Committee

The Romanian Ambassador in Vienna, H.E. Emilian Hurezeanu, was welcomed as a new member of the Ambassador Committee of the Vienna Economic Forum.

September 9, 2021

Covid-19 in Austria: These Are the Updated Entry Rules

Due to today's amendment of the Austrian "COVID-19 Entry Regulation 2021", we bring you an update on the regulations for entering Austria.

July 20, 2021

Meet the New Ambassador of Romania to Austria

The new Ambassador of Romania to Austria, Mr. Emilian Horațiu Hurezeanu, presented his credentials to the President of Austria, Alexander Van der Bellen. Learn more about his background.

July 20, 2021

Austrian-Based EU Strategy for the Danube Region Celebrates Anniversary

The EU Strategy for the Danube Region celebrates its 10th anniversary by highlighting its importance and contribution to Europe. 14 countries with a population of around 115 million people make up one of the strongest economic forces on the European continent.

June 29, 2021

On Behalf of EU: Lithuanian, Romanian and Austrian Foreign Ministers Travel to South Caucasus

The Foreign Ministers from Lithuania, Romania and Austria have visited the South Caucasus countries Azerbaija, Armenia and Georgia on behalf of EU External Relations Commissioner Josep Borrell. Read everything about the details of the trip below.

June 28, 2021

Romanian Parliament Speaker Met Sobotka

Romanian Parliament Speaker Ludovic Orban met with Austria's National Council President Wolfgang Sobotka to discuss matters concerning the Covid-19 pandemic, interparliamentary relations and bilateral relations between the two countries. Furthermore, both politicians found great agreement on the need to fight anti-Semitism and antiziganism.

April 27, 2021

New Timetable for European Capitals of Culture

The Covid-19 pandemic also affects the timetable for the European Capitals of Culture. Postponements and extensions are made in order to guarantee proper planning for the selected cities. In 2024, Austria should be hosting another Capital of Culture in Bad Ischl.

August 19, 2020

Austria Lifts Landing Bans for Airplanes from All 18 Countries that were Previously Banned

The previous landing bans for aircraft from 18 countries expired on 1 August 2020. From now on, new entry regulations will apply, requiring a mandatory Covid 19 test. There are exceptions for diplomats and some other groups.

August 1, 2020

Landing Ban at Austrian Airports Extended from 10 to 18 Countries

In the fight against the coronavirus pandemic, Austria will reinforce the landing bans for aircraft from COVID-19 risk areas as of Thursday, 16 July. Thus, landing bans will apply to aircraft from the following countries: Albania, Belarus, Bosnia and Herzegovina, Bulgaria, China, Egypt, Iran, Kosovo, Moldova, Montenegro, North Macedonia, Portugal, Romania, Russia, Serbia, Sweden, United Kingdom and Ukraine.

July 14, 2020

Stricter Border Controls and Travel Warning for Western Balkans, Romania, Bulgaria and Moldova

Due to the high infection rates in these countries, Austria declares the highest security level. Anyone who travels to Romania, Bulgaria, the Republic of Moldova or, for example, to the countries of the Western Balkans, despite an upright travel warning, must undergo a 14-day home quarantine or a negative covid test upon returning to Austria. This is not a recommendation, but a legal regulation. Fines of up to 1,450 euros will be imposed.

July 8, 2020

Easier Access to Austria for Commuters from Abroad

"Ongoing consultations with Austria's neighbouring countries are making life easier for commuters from abroad", says European Affairs Minister Karoline Edtstadler.

April 14, 2020

Danube Region Business Forum - Infrastructure and Its Implications on Business in CEE and SEE

The Danube Region is one of the traditionally important markets for Central European regions and companies. However, the infrastructure of this region does not yet meet the requirements of the economy. The 8th Danube Region Business Forum will take place on 9 October 2018 at the Austrian Federal Economic Chamber in Vienna. The aim of the forum is to ensure that the infrastructural quality and cooperations in the region meet the requirements of the economy.

October 3, 2018

US Embassy Opening in Jerusalem: Palestinian Ambassador to Austria Called Back to Palestine in Protest

The Austrian Ambassador to Israel, Martin Weiss, was one of only four EU Ambassadors (Hungary, Czech Republic, Romania) who participated in the celebrations surrounding the US embassy relocation to Jerusalem. The Palestinian leadership pointed out some time ago that not only the act but also the timing is a violation of international law and relevant UN resolutions, as well as arrogant disrespect. Therefore, the Palestinian Ambassador to Austria, Salah Abdel Shafi, has been called back to Palestine for an indefinite period of time.

May 16, 2018

Western Balkans Summit was Held in Paris

Following the 2014 Western Balkans Summit in Berlin and the Vienna Western Balkans Summit of August 2015, the third Western Balkans Summit was held in Paris in the context of the ‘Berlin Process’. More than 500,000 of the people with migration background who live in Austria are from the region. Austrian companies have hundreds of branches or subsidiaries in the Western Balkans, which clearly illustrates the very close economic relations.

July 8, 2016

Western Balkans Countries Discussed Investment, Jobs and Integration in Vienna

The World Bank and the Vienna Institute for International Economic Studies (wiiw) held a high-level policy dialogue on ‘Investment, Jobs and Integration’ last week. Ministers and senior officials from the Western Balkans region as well as policy experts from international organisations and the business community gathered to discuss the challenges the region is currently facing, in particular the high unemployment rate, low international competitiveness, and lack of modern infrastructure.

July 8, 2016

Closing of Visa Takeover Brings EUR 97 Million Pre-Tax Profit to RBI

The expected pretax profit from the cash payment of the transaction will be EUR 97 million. It should be booked under net income from financial investments in the second quarter of 2016. Visa Inc. had announced the takeover of Visa Europe Ltd. in November of 2015. The cash payment of this one-off effect will be split between Slovakia, Romania, Czech Republic, Poland, the RBI head office, Croatia, Bulgaria, Hungary and Zuno.

June 21, 2016

Erste Group Provides Blackstone with a 5-Year EUR 91 Million Facility

Erste Group provides Blackstone with a 5-year EUR 91 million facility to acquire 12 logistics assets. The 265000 sqm portfolio covers 12 standing logistics investments located in Hungary (5), Romania (4), Poland (2) and Slovakia (1), as well as land reserves.

February 22, 2016

Central and Eastern Europe's Financial Elite Gathered at the CEE Forum in Vienna

The 21st Euromoney Central and Eastern European Forum ended in Vienna today, where 1000 delegates from the region joined local and international investors to help plan, debate and analyze the economic agenda for the region for the year ahead. The vast majority of the delegates have a negative outlook for the year 2016. Only one of the participants expects that this year CEE will grow more than 3.5%.

January 20, 2016

Central and Eastern European Forum in Vienna next Week

The Central and Eastern European Forum - organized by Euromoney - is taking place in Vienna next week. 1,000 top level policymakers, issuers, and commentators from the region will join local and international investors to help plan, debate and analyze the economic agenda for the region for the year ahead.

January 13, 2016

Report: Drug Money and Opiate Trafficking on the Balkan Route

A report recently launched by the United Nations Office on Drugs and Crime (UNODC) shows that the total value of illicit heroin and opium trafficked from Afghanistan to Western Europe through the Balkans amounts to some $28 billion every year. Sixty-five per cent of this total ($18 billion) is generated in Western and Central Europe.

December 14, 2015

CEE in the Autumn of 2015 is the New Safe Haven

The key conclusion of UniCredit’s CEE Quarterly 4Q 2015 is that the CEE region, despite its heterogeneity, looks better positioned than most other large emerging markets to cope with potential challenges. In particular they found that market volatility spiked in 3Q15, with the uncertainty surrounding the anticipated Fed rate hike augmented by growing worries about a “hard landing” in China.

September 25, 2015

Erste Group Presents Net Profit of EUR 487.2 Million in H1 15

Erste Group closed the first half of 2015 with positive results, reflected in strong improvements in profitability, asset quality, lending and capital. The group reported a net profit of EUR 487.2 million in H1 2015, compared to a negative result of EUR -929.7 million in the similar period last year; all countries except Hungary made a positive contribution to this development. Total assets increased to EUR 197.5 billion, compared to EUR 196.3 billion at the end of 2014. This balance sheet growth reflects a 2.2% advance in net lending to customers compared to the end of 2014, to EUR 123.5 billion, supported by the 1.7% growth in loans to households, 2.0% to SMEs and 5.9% to large corporates.

August 7, 2015

Euromoney Names UniCredit-Bank Best Bank in CEE

Euromoney has presented UniCredit with nine awards for excellence, including Best Bank in Central Eastern Europe, Best Debt House in Central Eastern Europe and Best Transaction Services House in Central Eastern Europe.

July 14, 2015

EBRD Sees Mixed Outlook for CESEE Countries in 2015-16

The outlook for economies in central and south eastern Europe is improving on the back of eurozone monetary easing but prospects further to the east of the transition region have worsened, as the impact of Russia’s recession intensifies.

May 14, 2015

EBRD Lends EUR 30 Mln Loan to Raiffeisen Leasing to support MSMEs in Romania

The European Bank for Reconstruction and Development (EBRD) is increasing the availability of financing to private businesses in Romania with a RON 132 million (€30 million equivalent) loan to the Bucharest-based Raiffeisen Leasing IFN S.A, a subsidiary of Austrian Raiffeisen Bank International AG (RBI).

January 15, 2015

Klaus Iohannis - Who is the New President of Romania?

On November 16th, Klaus Iohannis was elected the fifth President of Romania. He is due to take office on 22 December. His presidential campaign focused on fighting corruption and on improving the justice system. Klaus Werner Iohannis is a Romanian politician, born 13 June 1959. He was elected the fifth President of Romania on 16 November 2014 (age 55). He became leader of the National Liberal Party in 2014, after having served as leader of the Democratic Forum of Germans in Romania from 2002 to 2013.

November 17, 2014

Mid Europa Partners' New Fund to Invest EUR 800 Mln in CEE

Mid Europa Partners, the British private equity firm focused on buyouts in Central & Eastern Europe, announced the final closing of Mid Europa Fund IV at €800 million, complemented by an additional pre-allocated co-investment program of €650 million. Fund IV represents the largest dedicated fund to the CEE Region raised in the last 5 years.

September 5, 2014

Transport & Logistics - DB Schenker Opens New Logistics Center in Belgrade

DB Schenker will be moving into a new logistics center near Belgrade/Serbia at the beginning of 2015. The center will offer customers the technology for specialized logistics solutions.

August 29, 2014

Cost of Living Rankings: CEE Capitals Cheaper, Vienna is 32nd Most Expensive City

The Mercer's 2014 Cost of Living Rankings have been published and cover 211 cities across five continents. While Western European cities have all risen in the rankings mainly due to the strengthening of the Euro against the US dollar, most cities in Central and Eastern Europe (CEE), however have fallen in the ranking as a result of local currencies depreciating against the US dollar. Bratislava (#84), Prague (#92), Kiev (#98), Ljubljana (#116), Zagreb (#120), Budapest (#135), Warsaw (#142), Belgrade (#184).

July 25, 2014

OMV Petrom Finalizes Modernization of Petrobrazi Refinery

OMV Petrom, the largest oil and gas producer in South-Eastern Europe, has announced the successful finalization of the modernization process of Petrobrazi refinery, performed during 2010-2014. Total investment in the modernization process amounted to around EUR 600 mln. The main target of the investment program was to increase competitiveness. OMV Petrom is now able to process the entire Romanian crude production of OMV Petrom in a single refinery.

July 24, 2014

CEE-Initiative: Strengthening Investment Fund Business in Central- and Eastern Europe (CEE)

The Hungarian association BAMOSZ and the Austrian association VÖIG initiated a closer collaboration and tighter co-operation between fund associations in CEE, the so-called „CEE Initiative“. The member associations of the „CEE Initiative“ are (in alphabetical order): Austria, Bulgaria, Croatia, Czech Republic, Greece, Hungary, Poland, Romania, Slovakia, Slovenia and Ukraine.

June 16, 2014

Austria: Western Balkans Representatives are Meeting in Vienna

The Western Balkans Conference and the Central European Initiative (CEI) Ministerial Meeting are currently discussing questions regarding the EU enlargement, the role of the EU as a peace project and the economic situation in the Western Balkans.

June 3, 2014

OMV to Invest EUR 500 Mio in Tunisia

The Nawara project underlines Tunisia’s significant role in OMV’s portfolio and it is a decisive stage of the key Nawara gas field development project.

May 30, 2014

Boyden Partners Met in Vienna to Discuss Emerging Markets Strategies

The annual global Boyden conference took place in Vienna. Despite the current political crisis in Ukraine the headhunting company sees good prospects of Austrian enterprises and managers.

May 23, 2014

“Romania Can Never Become the China of Europe”

Stabilization in Central and Eastern Europe (CEE) is becoming stronger. However, the political crisis in Ukraine is causing a feeling of insecurity among the population.

May 15, 2014

Raids at Romanian Affiliate of VIG

A number of business locations of Omniasig, the Romanian affiliate of Austrian insurer VIG, were searched by the police. Several employees are accused of forgergy and abuse of authority.

May 14, 2014

Romania: Banca Transilvania Gives Shares to Employees

As part of the loyalty program, the Romania lender gave almost 10 million shares to its employees.

May 12, 2014

Czech Arca Capital to Invest in Romania

As reported by daily E15, Czech investment group Arca Capital is planning to make a huge investment in Romania.

May 12, 2014

Romania: Raiffeisen Bank Issues Unsecured Bonds

Raiffeisen announced plans of issuing unsecured bonds at the stock exchange in Bucharest with a nominal value of RON 500m (€ 112.8m) with a maturity of five years.

May 9, 2014

CEE: Surge in Sales for French Lafarge

The French building material group Lafarge saw a strong increase in sales in Romania and Eastern Europe in general.

May 9, 2014

MOL Group Acquires 208 Filling Stations in Three CEE Countries

MOL Group’s retail network grows to almost 2,000 service stations across 11 countries. The Group’s market presence expands significantly in the Czech Republic, Slovakia and Romania. Retail network expansion further strengthens MOL Group’s role in CEE.

May 9, 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

Michelin to Downsize in Hungary

French tyre producer Michelin announced to shut down ist tyre plant in Budapest and relocate to Romania.

May 9, 2014

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

Raiffeisen Bank International AG - SWOT Analysis & Company Report May 2014

This new report contains in depth information and data about Raiffeisen Bank International AG and its operations and markets. It contains an overview, business and strategy description, financial ratios, valuation & forecast data and a SWOT analysis.

April 25, 2014