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Goals for Austria's Presidency of the Council of the European Union
On 1 July 2018, Austria will take over the Presidency of the Council of the European Union from Bulgaria. During its Presidency of the Council of the European Union (1 July to 31 December 2018), guided by the motto "A Europe that protects", Austria will focus on three key areas: security and the fight against illegal migration, retaining competitiveness through digitalisation, and stability in the neighbouring regions (particularly the accession of the Western Balkans to the EU).
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Tourism: Vienna Achieves New Record Number of Overnight Stays
Vienna recorded a new tourist record in March with an increase of 8.5% compared to the previous year. The number of guest overnight stays rose to 1,169,000. Most of the tourists came from Germany, Italy, Russia, Spain, the UK and Switzerland.
April 19, 2018
Russia's Yelena Baturina Divests Grand Tirolia Hotel for €45 Mln
The billionaire and wife of Yury Luzhkov, the former Moscow mayor, is selling her Kitzbühel 5-star hotel for 45 million euros to an investor. Rumour has it that the investor is looking for an international operator.
April 10, 2018
Former Finance Minister Schelling Appointed Gazprom Advisor
Hans Jörg Schelling, former Austrian Minister of Finance until December 2017, has signed an advisory contract with Nord Stream 2 gas pipeline three months after his handover. OMV is also involved in the project, of which he was the owner's representative as Austrian Minister of Finance.
March 30, 2018
Vienna - Moscow: Maintaining All Communication Channels Is Crucial
All the evidence suggests that Russia is to blame for the poison attack on former double agent Sergei Skripal in Salisbury. To date, 19 EU countries and 7 non-EU countries have expelled more than 150 diplomats. By deciding not to expel Russian diplomats, Austria is opposing most of its partner countries.
March 27, 2018
RBI Doubles Net Profit, Pays Dividends Again and Returns to Growth Course
RBI - Raiffeisen Bank International has doubled its profit in 2017 and rewards shareholders. They have not received any dividends since 2013. The bank had to pursue a sharp austerity course, reduce international business volumes, close branches in Eastern Europe and stop dividend payments. Russia remains the most important source of income.
March 15, 2018
The OSCE in 2030: Undivided Security in Europe Now More at Risk Than 10 Years Ago
In the Austrian National Defence Academy, the security issue "The OSCE in 2030: Undivided Security in Europe restored?" was discussed in the form of a public panel discussion. At the invitation of the International Institute for Peace (IIP), the Karl-Renner-Institut, the Scientific Cluster for Polemology and Legal Ethics, the FES Regional Office for Cooperation and Peace in Europe (ROCPE), the Austrian National Defence Academy and the ISP Institute for Security Policy, Hannes Swoboda as moderator and the panelists Thomas Greminger, Fyodor Lukyanov, Stephanie Liechtenstein, Alena Kupchyna discussed the hoped-for security policy development of Europe and the OSCE.
March 7, 2018
Chancellor Kurz Visits President Putin: "The situation in Syria is dramatic"
Austrian Chancellor Sebastian Kurz traveled to Moscow to meet Vladimir Putin. The focus of the trip was a working meeting with the Russian President, with whom Kurz discussed, among other things, the bilateral relations of both countries, the relationship between Russia and the EU, the Ukraine conflict and the current situation in Syria.
February 28, 2018
Federal President Widow Margot Klestil-Löffler Designated to Become Special Envoy to Russia and China
Due to tensions in the CEI Central European Initiative in Trieste between the Italian diplomat Giovanni Caracciolo di Vietri as CEI Secretary General and his deputy Margot Klestil-Löffler, it is rumored that the Foreign Office must find a new job for Klestil-Löffler. This is what the daily "Der Standard" writes in its Thursday issue.
February 23, 2018
How do Russian Politicians and Oligarchs Withdraw their Money from Austria?
The Russian money nobility has begun to repatriate large amounts of its western-hoarded money back to Russia in order to deprive it of access by Western authorities. The countries of origin are above all Switzerland, but also Austria and Great Britain. Sberbank, Russia's largest and state-owned bank, speaks of an atypically high capital inflow to Russia. Within a few weeks, a tripling of such repatriation transactions took place compared to the same period of the previous year. The sum is hundreds of millions of dollars. The average transfer amount has increased within a year by 50% to 3 million dollars. This meets with the Kremlin's desire to repatriate Russian assets.
February 22, 2018
IIASA Builds Bridge through Science with Israel
The Laxenburg based international research organization IIASA (International Institute for Applied Systems Analysis) has recently announced that Israel has become its newest member country. Israel joins 24 other countries whose National Member Organization’s representatives constitute the IIASA Governing Council. Israel has established the Israel Committee for IIASA - made up of representatives from Israeli universities, government ministries, and the public - to represent the Israeli membership of IIASA.
February 19, 2018
Strabag building turnkey luxury apartments in Moscow
The European construction group STRABAG has been hired by AO Don-Stroy Invest - one of Moscow's leading real estate developers for luxury apartments - to build the project "Living on Plushikha". Until completion in mid-2019, STRABAG will build 202 turnkey residential units distributed over eight individual buildings.
March 30, 2017
OMV Aktiengesellschaft / OMV reached a binding "Basic Agreement"with Gazprom on the potential asset swap
OMV reached a binding "Basic Agreement" with Gazprom for a potential asset swap transaction. The execution of the Basic Agreement was approved in today's meeting of the OMV Supervisory Board but is still subject to signing of the Basic Agreement by the parties. The signing is expected to take place during the course of today.
December 14, 2016
Oil Price Hardly Matters for Russian Country Risk
The oil price decline has created headwinds for the Russian economy. However, the risk of doing business in Russia as determined not only by economic but also by political and structural factors has not changed substantially and there is therefore no evidence that the oil price decline had a significant impact on Russian country risk.
November 2, 2016
Symposium in Vienna: "Current Security Challenges for Europe: NATO, its Partners and the Warsaw Summit"
The upcoming summit of the North Atlantic Treaty Organization (NATO) in Warsaw from 8th to 9th July 2016 sees the organization facing numerous challenges. The withdrawal of combat troops from Afghanistan and rising tensions in the European area – from the conflict in Ukraine to the migration crisis, effected the question of the role of NATO’s Partnership for Peace under the new circumstances. A conference in Vienna with the working title "Current Security Challenges for Europe: NATO, its Partners and the Warsaw Summit" intends to discuss these and other pertinent issues.
June 16, 2016
Austria to Open Embassy in Tbilisi this Summer, Latvia to be Closed
Austria is soon to open an embassy in the Georgian capital Tbilisi, the Austrian Foreign Ministry informed journalists following a meeting between Kurz and his Georgian counterpart Mikheil Janelidze.
June 10, 2016
Ex-Magna Boss Buys Former Employer's Headquarters in Oberwaltersdorf
The Styrian Car Manager of Oleg Deripaska's Russian Machines Company and former Magna CEO Siegfried Wolf has bought the former Magna headquarters in Oberwaltersdorf.
March 2, 2016
RBI Not to Sell Zuno Bank to ABH Holdings
The sale of Raiffeisen Bank International’s (RBI) direct bank Zuno to the Alfa Banking Group will not be concluded because ABH Holdings withdrew from the contract of sale.
March 1, 2016
Exhibition: Chagall to Malevich - The Russian Avant-Gardes
The period from 1910 to 1920 was the heyday of the Russian avant-garde. Reason enough for the Albertina to dedicate an exhibition to Chagall, Malevich and Co.
February 15, 2016
State Visits from Azerbaijan and Turkmenistan in Context of Austria's OSCE Chairmanship in 2017
Michael Linhart met Deputy Prime Minister and Foreign Minister of Turkmenistan Rashid Meredov and Deputy Foreign Minister of Azerbaijan Araz Azimov in Vienna. “Azerbaijan and Turkmenistan are important partners for Austria in the context of its OSCE Chairmanship in 2017”
February 12, 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
Austrian-Russian Friendship Society to Appoint Richard Schenz as New President
Dr. Richard Schenz has recently been appointed as new President of the Austrian-Russian Friendship Society (ORFG - Österreichisch-Russische Freundschaftsgesellschaft). He succeeds CEO Ludwig Scharinger who left office for health reasons. KR Sen.hc Richard Schenz is a Vice President of the Austrian Chamber of Commerce (WKO). He was formerly CEO of OMV and Capital Markets Advisor to the Austrian Minister of Finance.
December 22, 2015
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
VTB Bank Austria has Passed the European Central Bank’s Stress Tests
To meet these requirements, VTB Bank (Austria) AG boosted the capital, raising its consolidated capital ratio from 9.3% as of the end of 2014 to 13.7% as of the end of September 2015.
November 16, 2015
Iranian Foreign Minister to Participate in Syria Conference in Vienna
Iranian Foreign Minister Mohammad Javad Zarif will attend the conference on Syria in Vienna on Friday. This has been confirmed today by the Foreign Ministry in Tehran, according to the official news agency ISNA. Iran will meet in Vienna not only to Russia and the USA, but also to its nemesis Saudi Arabia.
October 28, 2015
Joint Russia-US Fight against ISIS: Kerry and Lavrov to Hold Syria Talks in Vienna
US Secretary of State John Kerry will meet Russian Foreign Minister Sergei Lavrov on Friday in Vienna to discuss the Syrian conflict together with their counterparts from Saudi Arabia and Turkey. The meeting was made possible following the involvement of Vladimir Putin in serious diplomacy and the surprise visit by Syrian President Bashar al-Assad to Moscow on Tuesday.
October 23, 2015
RBI’s Russian Subsidiary Sells its Pension Fund Business
RBI’s Russian subsidiary (AO Raiffeisenbank) closed the sale of its pension fund business (ZAO NPF Raiffeisen) to the Russian BIN Group. The transaction will result in a one-off gain before tax of around EUR 87 million for RBI, which will be booked in the fourth quarter of 2015. It has been agreed that the parties will not disclose the price at which the transaction took place.
October 19, 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
IAEA's Position and Road-Map Regarding Iran's Nuclear Program
The International Atomic Energy Agency (IAEA) and the Islamic Republic of Iran (Iran) agree, in continuation of their cooperation under the Framework for Cooperation, to accelerate and strengthen their cooperation and dialogue aimed at the resolution, by the end of 2015, of all past and present outstanding issues that have not already been resolved by the IAEA and Iran.
July 14, 2015
Iran Nuclear Deal: Joint Statement by Federica Mogherini and Iranian Foreign Minister
The joint statement by EU High Representative Federica Mogherini and Iranian Foreign Minister Javad Zarif calls on the world community "to support the implementation of this historic effort". "The Joint Comprehensive Plan of Action is a balanced deal that respects the interests of all sides. It is also complex, detailed and technical."
July 14, 2015
Iran Nuclear Deal: Historic Agreement in Vienna
The so-called P5+1 - the US, UK, France, China and Russia plus Germany and the EU have reached a "historic" deal with Iran on limiting Iranian nuclear activity in return for the lifting of international economic sanctions. The deal, known as the "Comprehensive Joint Plan of Action", was signed today in Vienna.
July 14, 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
Mostboeck: "ATX Valuations Remain Attractive - Catch-Up Potential until Year-End"
The majority of companies in the ATX had to report significant earnings revisions in 2014. In addition, geopolitical risks in the context of the Russia/Ukraine conflict exerted a negative effect. “The significantly improved environment and the digestion of last year's one-off effects are creating notable catch-up potential for the ATX”, notes Fritz Mostböck, Head of Group Research at Erste Group.
June 23, 2015
FDI: Western Europe Overtakes China and North America, Austria Improved Its Position
Ernst and Young's latest European attractiveness survey has been published. FDI into Europe hits a new record with US$305b attracted into the region in 2014, translating to a 36% year-on-year growth, despite global growth slowdown. UK, Germany and France remain the preferred destinations for foreign direct investment (FDI) within Europe, while Turkey enters the Top 10. Austria improved its position in the ranking by two notches, rising to position 22 of all 44 countries analyzed.
May 29, 2015
Russia Demands Extradition of Oil Magnate Ural Rakhimov
Russia is demanding that Austria extradites oil magnate Ural Rachimov, a court spokesperson said on Tuesday confirming the report of the daily Die Presse.
May 20, 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
Summary Programme for the St. Petersburg International Economic Forum Released to Participants
The 19th St. Petersburg International Economic Forum will take place on June 18-20, 2015, bringing together heads of states and governments, political leaders, CEOs and senior executives of major Russian and international companies, leading experts, and representatives of Russian federal and regional authorities. The theme of this year's Forum will be 'Time to Act: Shared Paths to Stability and Growth'.
April 22, 2015
People in the News: UNODC Executive Director Yury Fedotov
Yuri Viktorovich Fedotov (born 1947) is a high level diplomat of the Russian Federation. Since 2010 he has served as the Executive Director of the United Nations Office on Drugs and Crime (UNODC) in Vienna with the rank of Under-Secretary-General, after having previously served as the Ambassador of Russia to the United Kingdom.
March 27, 2015
Austrian Doctor Treats Vladimir Putin in Moscow
Russian President Vladimir Putin, who has disappeared from the public eye since March 5th, is said to suffer from back problems, according to information from the "Kurier". He is now supposed to be treated by a Viennese orthopedic surgeon.
March 15, 2015
OSCE Special Monitoring Mission to Ukraine Deputy Chief Monitor Alexander Hug to Visit Vienna
The Deputy Chief Monitor of the OSCE Special Monitoring Mission (SMM) to Ukraine, Alexander Hug, will visit Vienna, Austria, on 5-6 March.
March 5, 2015
OSCE Chief Observer at the Russian Checkpoints to Visit Headquarter in Vienna
Paul Picard, Chief OSCE Observer at the Russian Checkpoints Gukovo and Donetsk will address the OSCE Permanent Council. He will report on the situation including movements across the Russian-Ukrainian border at the Russian checkpoints at Gukovo and Donetsk.
February 25, 2015
BWT Aktiengesellschaft / BWT signs framework agreement for the takeover of the majority in Mettem Technologies in Russia, strengthens itsmarket presence in the consumer business
The BWT Group has strengthened its presence in the point-of-use consumer business with a majority interest in the Mettem Technologies Group, Moscow, secured by the signing of a framework agreement.
January 23, 2015
George Soros: "A New Policy to Rescue Ukraine"
Soros is calling on members of the European Union to behave as countries indirectly at war with Russia and to provide Ukraine with $50 billion to defend itself and kick-start political reforms. Russian President Vladimir Putin's imperial ambition has unintentionally brought into being a new Ukraine that is adamantly opposed to endemic corruption and inefficient government. By offering assistance, Europe can foster an open society in Ukraine and protect itself from Russian aggression.
January 22, 2015
Gebrüder Weiss Opens Three Branches in Moscow
Logistics Company Gebrüder Weiss is consolidating its network, and with the Russian location, will be closing a geographical gap between its branches in Europe and Asia.
January 13, 2015
Serbian Foreign Minister Dačić to Visit Vienna
The new OSCE Chairperson-in-Office, Serbian Foreign Minister Dačić will visit Vienna on Thursday. He will outline the Serbian Chairmanship’s priorities to the OSCE Permanent Council*.
January 13, 2015
Secretary of State John Kerry at the OSCE Ministerial Plenary Session
"It is not our design or desire that we see a Russia isolated through its own actions. In fact, we are convinced that Moscow could rebuild trust and relationships if it simply helps to calm turbulent waters, if it takes steps now to implement the Minsk protocol."
December 5, 2014
Russian Investor Boris Mints to Launch Tender Offer for 10 Pct of CA Immo Shares
O1 Group Limited of Russian investor Boris Mints has made a voluntary partial public takeover offer of 10% of additional CA Immo shares. The offer comprises the purchase of up to 9,735,276 non-par value bearer shares of CA Immo (ISIN AT0000641352), which are admitted to the Official Market on the Vienna Stock Exchange.
November 28, 2014
OSCE Special Monitoring Mission to Ukraine Starts the Use of Austrian Drones
The OSCE (Organisation for Security and Cooperation in Europe) Special Monitoring Mission to Ukraine (SMM) today completed the maiden flight of its unarmed/unmanned aerial vehicles (UAVs) before members of the media near Mariupol in eastern Ukraine. The OSCE will use unmanned and unarmed drones for the monitoring of the border between Ukraine and Russia.
October 23, 2014
Business Indicator: Dip in Economic Activity Towards End of Year, but Hope Remains for 2015
Bank Austria has published its latest "Business Indicator" on the Austrian economy. The Bank's analysts believe that in light of the increasing uncertainty in recent months, the moderate recovery achieved by the European and therefore the Austrian economy too this year is taking a breather. The Russia/Ukraine crisis and the tensions in the Middle East have blighted sentiment in the Austrian economy at the start of autumn on a broad scale.
October 17, 2014
Business Indicator: Growing Geopolitical Uncertainty Levels the Economic Outlook Down
Bank Austria has published its latest "Business Indicator" on the Austrian economy. The analysts of Bank Austria believe, that after a weak first six months, the economic recovery continues to find it difficult to get out of the starting blocks. The growing uncertainty fuelled by the Russia-Ukraine crisis was reflected in another decline for Bank Austria’s Business Indicator in August. The indicator has been trending downwards slightly for half a year, and now sits at its lowest point since last summer of just 0.2 points.
September 18, 2014
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