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Fitch: Austrian Banking Industry Depends on CESEE
According to the U.S. rating agency, the situation of Austrian banks strongly depends on the development in central, east and southeast Europe.
January 14, 2013
Romania: Ponta Promises Return to Growth
Prime Minister Victor Ponta underlines the necessity of austerity measures. This year, Romania´s public debt level will increase further, though.
January 12, 2013
Poverty: Romanian and Bulgarian Citizens Most Endangered
Regarding the poverty rate, Bulgaria, Romania, Spain, Greece and Lithuania are significantly above the EU average.
January 9, 2013
CESEE Equity Market: Upside Trend after Slow Start
Country allocation: An overweight on Russia is a strong bet for the coming quarter and mostly based on liquidity searching for an option after Turkey performing so strongly, Erste Group says.
January 7, 2013
Petrom: Major Gas Deal Signed
OMV Petrom exploring shallow water sector of Neptun block in the Black Sea.
December 22, 2012
Erste Group Withdraws from Ukraine
Austrian Erste Group enters into an agreement to sell Erste Bank Ukraine.
December 20, 2012
Highest Percentage of Low-Wage Earners in Baltic Countries
One out of six employees in the EU27 was a low-wage earner in 2010. Large differences between men and women, levels of education and types of contract.
December 20, 2012
CESEE: Poverty Grows Considerably
In Europe, one in four citizens is affected by poverty, the Russian newspaper “Rossijskaja Gaseta” states.
December 18, 2012
Romanian Post to be Privatized
In total, 51% of the company will be sold. The Romanian state will keep a 24% stake in Post.
December 18, 2012
Erste Group: Massive Cuts in Romania
Due to the weak performance of BCR, the Austrian bank plans to lay off 1,600 employees in Romania. BCR´s NPL quota remains on a high level.
December 18, 2012
Ponta to Remain as Prime Minister
Despite heavy dispute with Ponta, Romania´s President Traian Basescu announced to swear him as Prime Minister. Basescu has no other choice.
December 17, 2012
Labor Costs: Highest Increases in Estonia and Romania
Euro area hourly labour costs rose by 2.0%. In the EU27, labour costs were up by 1.9%.
December 17, 2012
CEE Countries May Join Banking Union
ECB will become the main supervisor for the Eurozone´s banking industry. Non-Eurozone member countries are entitled to opt-in.
December 13, 2012
GDP per Capita: Romania and Bulgaria Tail-Lights in EU
GDP per capita varied by one to six across the Member States in 2011. Austria ranks third behind Luxembourg and the Netherlands.
December 13, 2012
Romania: Basescu Under Pressure
After the decisive victory of Prime Minister Ponta, Romania´s President Traian Basescu has no other alternative than to appoint Ponta again.
December 10, 2012
Poverty: People in Romania and Bulgaria Most Affected.
In 2011, 24% of the population were at risk of poverty or social exclusion, which is corresponding to around 120 million persons. The Czech Republic ranks first.
December 3, 2012
CESEE: Social Protection Still Underdeveloped
EU27 spent 29.4% of GDP on social protection in 2010. The lowest ratios were observed in Romania, Latvia, Estonia and Bulgaria.
November 27, 2012
Romanian Central Bank on Hold
Romania´s Central bank remained on hold at its most recent monetary policy meeting on 2 November, keeping the monetary policy rate unchanged at 5.25%.
November 27, 2012
Romania: Fiscal Situation Improves
“Public budget deficit amounted to only 1.2% of GDP at the end of September, which was better than we had expected.” Raiffeisen Research states.
November 27, 2012
Romania: Foreign Trade Declines
"When expressed in EUR equivalent, both exports and imports of goods fell marginally in Q3 (-1.1% qoq and -0.3% qoq respectively, according to our in-house seasonally adjusted data)." Raiffeisen Research says.
November 26, 2012
Romania: Economic Upswing Expected
According with the flash estimates, real GDP declined by 0.5% qoq and by 0.6% yoy in Q3. “In our view, contraction was mainly the result of a plunge in agricultural output.” Austrian Raiffeisen Research says.
November 26, 2012
CESEE: Russia Has Best Growth Prospects
Next year, Russia is expected to record a GDP growth rate of 3.8%, Vienna Institute of International Economic Studies (wiiw) says.
November 26, 2012
CESEE: Eurozone crisis and Austerity Push Half of the Region into Recession
Export weakness and suppressed domestic demand will push nearly half of the CESEE region into recession this year, including the Czech Republic, Hungary, Slovenia, and nearly all Western Balkan countries.
November 26, 2012
AUA to Strengthen CEE Network
After Air Berlin decided to reduce the number of flights from Vienna to Eastern European destinations, Austrian Airlines intends to fill the gap.
November 20, 2012
Romania Hopes for New IMF Loan
The economic situation remains gloomy. Foreign direct investments are weakening. The economic outlook is rather decent.
November 13, 2012
Romania: EBRD Presses for More Reforms
According to the European Bank for Reconstruction and Development, Romania must become more attractive for investors.
November 10, 2012
Romanian Postmaster Fully Owned by Austrian Post
Austrian Post has acquired the remaining 74% shareholding in the Romanian company Postmaster s.r.l. which is the leading alternative postal services provider in Romania.
November 8, 2012
Erste Group Supports Romanian BCR
The Austrian bank Erste Group injects € 111m in Romanian BCR.
November 7, 2012
Romania: Joining Eurozone Will Take up to 30 Years
Economists think that Romania´s economy is far from being ready for the euro. The convergence process may take decades.
November 7, 2012
Romania: Joining Eurozone is „Not for Sure”
Romania´s Prime Minister Victor Ponta expressed his concerns about introducing the euro in Romania.
November 5, 2012
Moody´s Downgrades Austrian VBAG
The U.S. rating agency underlines that the Austrian state will help the financially stricken bank further.
November 3, 2012
South Stream Pipeline: Gazprom Concludes Contract with Hungary
The Russian energy group Gazprom has negotiated the last conditions of the contract with Serbia and Hungary.
November 2, 2012
Purchasing Power: Austria Ranks 6
Regarding the purchasing power per head, Austria is significantly above the European average of € 12,802.
October 31, 2012
Romanian Economy to Shrink Further
With a large negative contribution expected to come from agriculture, real GDP should decline again in Q3 in quarterly terms (as well in annual terms). The contraction is likely to be larger than initially expected, Raiffeisen Zentralbank forecasts.
October 30, 2012
CA Immo Secures Major Project in Romania
Lease agreements have been extended for over 14,000 sqm in two Bucharest office buildings. International anchor tenants are ensuring an almost 100 % occupancy rate in the CA Immo Romanian portfolio.
October 30, 2012
Erste Group´s Earnings Expected to Increase
The Austrian banking group will present its figures for the third quarter tomorrow. Net income is forecasted to improve.
October 29, 2012
VIG Considers Expanding Further
Vienna Insurance Group has cash reserves of € 1.5bn. Now, the insurance group wants to take over some small or medium-sized companies.
October 24, 2012
Rewe Austria to Expand in Russia
Rewe Austria intends to open ten new stores in Russia per year. Besides Russia, the Ukraine and Romania are main target markets.
October 22, 2012
Spindelegger in Romania: “Strategic interest in stable domestic conditions”
The Austrian Vice-Chancellor and Minister of Foreign Affairs meets Traian Basescu, President of Romania
October 17, 2012
Immofinanz Shows Progress in Romania
The wholly owned Immofinanz Group subsidiary Adama announces the start of construction on the second phase of two of its existing projects.
October 16, 2012
Vienna Stock Exchange Wants Further Privatizations
CEE Summit of the Vienna Stock Exchange: “Privatizations as a Driver of the Economy and the Capital Market”.
October 11, 2012
Erste Group to Sell Ukrainian Subsidiary
This year, the Austrian bank plans to sell its Ukrainian business segment. Erste Group entered the Ukraine in 2006.
October 8, 2012
Romania: Lowest Importance of Service Sector in EU
Almost 70% of employed persons in the EU27 worked in the service sector in 2011. The scope ranges from 43% in Romania to 85% in Luxembourg.
October 5, 2012
Austria: Fixed Costs Come at 55% of Household Income
In Eastern Europe, the share of fixed costs is even higher. Romanian households spend 76% of their income on fixed costs.
October 4, 2012
RBI: Poland Shows Stability
In Poland, Raiffeisen Bank International´s NPL ratio comes at 8%. By contrast, Ukraine and Poland are much more problematic.
October 1, 2012
EU Calls Bulgaria to Intensify Fight Against Corruption
The European Union recommends Bulgaria and Romania to increase their effort regarding the fight against organized crime and corruption.
September 25, 2012
Public Debt: New EU Members Are More Flexible
Compared to old EU member states, the new member states have more fiscal leeway to overcome the crisis.
September 24, 2012
VBAG to Cut More than 1,000 Jobs
Today, the Austrian problem bank announced to sharpen its austerity program radically. Until 2017, VBAG must be downsized to the half of its current size.
September 21, 2012
Strong Increase in Hourly Labor Costs in Hungary and Romania
Second quarter 2012 compared with second quarter 2011: Euro area hourly labour costs rose by 1.6% and by 1.8% in EU27.
September 17, 2012
EU: Highest Shadow Economy in Bulgaria
A World Bank report shows that the Bulgarian economy is still dominated by illegal work. Among EU-countries, Bulgaria clearly ranks first. Austria has the lowest shadow economy.
September 14, 2012
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