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Romania
Romanian Romgaz to be Privatized
The privatization of Romgaz at Bukarest Stock Exchange may become Romania´s biggest IPO. According to the Romanian news agency hotnews, other big privatizations in Romania may be postponed.
September 10, 2012
Romania Leaves Recession Behind
In the second quarter, Romania´s GDP was up by 0.5% The construction industry was the driving force.
September 8, 2012
Romania Still Shows Weak Growth Rates
“We expect economic recovery to remain sluggish. Weak external demand suggests exports and industry would not offer support to GDP growth. “ RCB (Raiffeisen Centrobank) says.
August 31, 2012
Goldman Sachs Lowers Expectations for Austrian Banks
The U.S. investment bank anticipates decreasing earnings.
August 27, 2012
Central and East Europe Summit in Vienna
Vienna Stock Exchange Group invites CEE companies and politicians in October 2012.
August 20, 2012
OMV Starts Gas Drillings in Ukraine
Together with the U.S. oils group ExxonMobil, the Dutch-British Shell Group, and the Ukrainian Nadra Ukrayny, OMV´s subsidiary Petrom starts natural gas drillings in the Ukrainian Black Sea region.
August 17, 2012
OMV to Focus on Gas Business
The Austrian oil and gas company intends to exploit natural gas in proximity to Europe. The Black Sea and the North Sea are the strategically most important areas.
August 8, 2012
MTC Invests € 25m in Romania
The Montana Tech Components AG industrial group will invest € 25m to expand the production facilities of their Romanian subsidiary, UACE (Universal Alloy Corporation Europe SRL).
August 7, 2012
Erste Group: Concerns Despite Profits
Yesterday, the Austrian banking group published its results for the first half year. The business in Romania, Hungary and Ukraine causes worries.
August 1, 2012
Proceedings Against Bulgarian Subsidiary of OMV Stopped
The Bulgarian Competition Authority KZK stopped investigations against OMV Bulgaria, Rompetrol, Lukoil and Naftex Petrol. The companies were suspected of price fixing.
August 1, 2012
Erste Group Burdened by Losses in Eastern Europe
Despite losses in Romania, Hungary and Ukraine, Erste Group posts a net profit of € 453.6m in first half of 2012.
July 31, 2012
New Hope for Nabucco West
The Aseri Minister of Energy Natik Aliyev thinks that Nabucco West would be better than the rival project TAP.
July 27, 2012
OMV: Libyan Output at Pre-War Level
The Austrian oil company could increase its oil production in the second quarter. OMV has to register extraordinary expenses of € 170m.
July 20, 2012
Bulgaria Aims to Join Eurozone
Bulgaria´s Finance Minister Simeon Djankov underlines the importance of the banking supervision and the Fiscal Pact, but wants to keep the fiscal competence.
July 16, 2012
Changes in Petrom’s Executive Board
Petrom, the largest oil and gas producer in Southeastern Europe, announces a change in its Executive Board. Starting September 1, 2012.
July 13, 2012
Performance of Austrian Banks Remarkably Down
Austria seems to be significantly „overbanked“: Austrian banks only achieve a 0.1% yield on the capital employed.
July 9, 2012
Austria Remains One of the Biggest CESEE Investors
Austria is still an important net investor in Central, Eastern and Southeastern Europe. However, the global importance of the region did not increase.
July 6, 2012
CEE Defies Turbulences in the Eurozone
GDP in CEE expected to grow 2.6 per cent in 2012 – eurozone expected to shrink by 0.3 per cent. Growth forecast for Austria’s GDP at 0.7 per cent in 2012
July 5, 2012
CESEE: Poland and Turkey are Hot Spots
Erste Economic Sentiment Indicator CEE: stock market expectations weaker, but still ahead of Eurozone. Turkey and Poland remain the preferred investment regions.
July 4, 2012
Volksbanken Sector to Become Merged
After months of negotiations, the merger between VBAG and the 52 Volksbanken is resolved. The merger was the prerequisite for getting bank aids.
June 30, 2012
Petrom Sells LPG
In order to optimize the R&M portfolio, the Romanian subsidiary of Austrian OMV sells its bottling plant to Crimbo Gas International. The price was not disclosed.
June 29, 2012
Real Estate Crisis in the Balkans Has Deepened
Due to the economic crisis in Southeastern Europe, real estate prices are still falling. Since 2008, prices fell by up to 50%.
June 28, 2012
OMV´s Petrom: Investments Totaled € 7.7bn Since 2004
Petrom, the Romanian subsidiary of Austrian OMV finalized the upgrade of the crude vacuum distillation unit in Petrobrazi refinery. Investments of approximately € 100m will be made.
June 27, 2012
Nabucco „Not Essential“ for EU
For the EU Commissioner Günther Oettinger, it is not important which pipeline ships natural gas to Europe.
June 22, 2012
Erste Pursues Downsizing Strategy in Romania
Last month, the Austrian Erste Group closes about 25 bank branches of BCR in Romania.
June 21, 2012
Third Major Contract in Romania for Alpine
The Romanian railway line between Vintu des Jos and Simeria to be rehabilitated for € 295m by the Austrian construction company.
June 21, 2012
Intensive Talks between OMV and Romanian Government
The Romanian Prime Minister Victor Ponta initiated talks with the Austrian oil and gas group OMV. Romania wants to control fuel prices in future.
June 19, 2012
Mitterlehner: „Romania is an Important Trading Partner“
Austria´s Minister of Economic Reinhold Mitterlehner sees many business opportunities for Austrian enterprises in Romania. Above all, the energy sector is highly promising, Mitterlehner says.
June 18, 2012
Erste Raises Stake in BCR
Erste Group’s ownership in BCR increases to 93.27%, following the successful buyout offer for minority shareholders.
June 5, 2012
„India and China are not the Problems“
Voestalpine´s CEO Wolfgang Eder thinks that competitors from Turkey, Russia and Ukraine may become problematic for the European steel industry.
June 5, 2012
Substantial Losses at Volksbanken
The main shareholders of Austrian VBAG had to write down € 333m last year.
May 26, 2012
Alpine Lands Another Railway Project in Romania
Alpine, the Austrian construction company, landed another major contract for a railroad project in Romania. The project volume is € 218m.
May 25, 2012
BCR: Treichl Expects Soon Recovery
Andreas Treichl, CEO of Erste Group, anticipates a soon recovery of the Romanian subsidiary Banka Comerciala Romana.
May 19, 2012
OMV Faces Extraordinary Tax in Romania
OMV´s Romanian subsidiary Petrom is threatened by an extraordinary tax for oil companies. The tax should be introduced in 2013.
May 19, 2012
Strong Increase in Austrian FDI
Only in 2007, Austrian investors made more investments abroad. Last year, FDI totaled € 22bn.
May 14, 2012
Petrom Posts Strong Rise in Earnings
The Romanian subsidiary of Austrian OMV could raise its EBIT by 38% compared to the first quarter of 2011.
May 9, 2012
Romania: OMV Threatened by Extraordinary Tax
Romania´s new Minister of Economics Daniel Chitoiu forces OMV´s subsidiary Petrom to pay higher taxes.
May 8, 2012
Nabucco: Azerbaijan´s Nassirov Optimistic
Elshad Nassivor, Vice CEO of the Azerbaijani oil and gas group Socar is optimistic to create a connection with Austria´s gas hub in Baumgarten.
May 5, 2012
Drastic Losses at Porr
The third-largest Austrian construction company had to write off projects in Hungary and Romania. Net losses totaled € 72m.
April 30, 2012
OMV: „Nabucco is More Alive than Ever”
Despite the exit of Hungarian MOL, the Austrian oil company underlines the importance of Nabucco. CEO Roiss holds on Nabucco.
April 28, 2012
OMV Raises Production
Due to the economic recovery in Libya, the Austrian oil and gas group OMV increased Oil production.
April 24, 2012
Roiss Claims European „Fracking“ Strategy
OMV´s CEO Gerhard Roiss calls for a common strategy to exploit shale gas. The European industrial sector should become more competitive.
April 18, 2012
Austrian Railways Aims for Expansion in SEE
ÖBB (Austrian Railways) wants to establish a new freight subsidiary operating in Southeastern Europe. In Austria, ÖBB performs better than expected.
April 16, 2012
Romania´s Authorites Check Alpine and Strabag
The two Austrian construction companies are suspected to have participated in three price arrangements. The order volume is € 190m.
April 14, 2012
Verbund Focuses Investments on Austria
The Austrian energy company plans investments of € 2.4bn in the next five years. About 66% of these investments will be made in Austria.
April 12, 2012
Strabag to Expand in Danube Region
In order to develop the Danube region of Hungary, Serbia, Romania, Bulgaria and Ukraine, the Austrian construction group expands its hydraulic engineering business.
April 12, 2012
„Bank Aids Are Lost“
The economist Franz Hahn (WIFO, Austrian Institute of Economic Research) argues that the nationalized banks are not interesting for potential buyers.
April 10, 2012
Romanian Government Considers Privatizations
The remaining publicly held stakes in Petrom, a subsidiary of Austrian OMV may be privatized. OMV does not participate in the transaction.
April 10, 2012
„Natural Gas to Become Most Important Energy Source“
Gerhard Roiss, CEO of the Austrian oil and gas group OMV pushes the EU to recognize the importance of natural gas.
April 7, 2012
VBAG Records Losses of € 1.35bn
Due to high write-offs in Hungary and Romania, the Austrian nationalized bank registered major losses in 2011. Thus, the capital injection covers these losses only partially.
April 5, 2012
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