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Russia

Slovenia Lures Russian Investors

Slovenia invites Russian investors to participate in privatization plans.

July 30, 2013

RBI Trying to Avoid Becoming “Cash Cow“ in Hungary

In an interview with “Wirtschaftsblatt“, CEO of RBI Karl Sevelda talks about further burdens in Hungary and the bank’s reaction to them, capital increase and how participation capital can be replaced.

July 29, 2013

Gazprom Acquires Kirghiz Gas Network

In return for a symbolic purchase price, the Kirghiz natural gas network is taken over completely by Gazprom. The Russian energy giant intends to invest billions of rubel in infrastructure.

July 29, 2013

Russia: Stronger Regulations for Market for Consumer Loans

Business with consumer credits have started comparatively late in Russia. Now, the market is supposed to be regulated further.

July 29, 2013

Czech Republic: CEZ to Postpone Completion of Temelin

Czech energy company CEZ announced that the decision for the finalization of nuclear power plant Temelin will take at least a year longer than planned.

July 25, 2013

Austria: Increased Demand in Romanian Exports

For the first time, Austria has imported goods from Romania exceeding the amount of € 1bn. Metals and machines are on top of the list of imported Austrian goods in Romania.

July 24, 2013

Russia: Inflation on the Rise

In the first six months of 2013, the inflation rate came at 3.5%. Compared to the reference period of 2012, the inflation rate was up by 0.4 percentage points.

July 23, 2013

Russia: Recession Not Excluded Anymore

Above all, Russia suffers from a shrinking industrial sector and a decline in foreign direct investments.

July 22, 2013

EU: Current Account with Russia Deep in the Red

EU27 current account surplus came at € 29.1 bn in the first quarter of 2013.

July 18, 2013

Bulgaria: South Stream Offers 6,000 New Jobs

South Stream Bulgaria´s CEO Georgi Gegov stresses the economic effect of the new gas pipeline from Russia to Western Europe.

July 18, 2013

Serbia to Invest in Renewable Energy

The Balkan country wants to invest more than € 10bn in its energy production. The focus will be on renewable energy.

July 18, 2013

Russian Economy Shows Insufficient Diversification

The Russian economy is primarily based on commodities, economists at the Moscow Higher School of Economics report. In the medium term, Russia has no growth potential, the experts say.

July 18, 2013

EU: Trade Surplus with Turkey Grows, Trade Deficit with Russia Shrinks

Euro area international trade in goods surplus 15.2 bn euro.

July 17, 2013

Russia Only Posts Moderate Growth Rates

Russian economists forecast that the Russian GDP will grow by 1.6% this year. This is substantially below the growth rate of 2012.

July 16, 2013

Moody´s Cuts Bank Austria´s Rating

According to the U.S. rating agency, the creditworthiness of the biggest Austrian bank has worsened. The expansion program in Russia and Turkey is seen as significant risk factor.

July 16, 2013

Serbia to Invest € 10bn in Energy Sector

Serbia will invest € 10 bn in the development of the energy sector in the next eight years.

July 12, 2013

Russia to Support Serbia Financially

Russian government paid $300 million of financial support to the budget of Serbia.

July 11, 2013

Russia to Reduce Oil Export

Russia produces more oil which is increasingly used in the country itself. Refineries outside of Russia do not fear immediate bottlenecks in the supply of oil.

July 11, 2013

IMF Downgrades Growth Prognosis for Eurozone

According to the International Monetary Fund (IMF), the prospects of growth in the Eurozone are still positive. However, they are not as good as in April. Germany and Austria are concerned as well.

July 10, 2013

Russian Car Market to Get New Lift

The number of sales of new cars in Russia has declined 11 percent. This is the fourth month in a row showing declines, according to the figures of the Accociation of European Businesses (AEB).

July 10, 2013

Gazprom Runs Risk Of Losing Leading Position

Currently, only state-controlled energy giant Gazprom is permitted to export gas. Due to cooperations with French Total and Chinese enterprises, Moscow now intends to open the market.

July 9, 2013

Ukraine Looking for Alternative Gas Suppliers

Gas supply from Europe to Ukraine may stimulate pricing of Russian import.

July 8, 2013

Bolivia: “We Don’t Need a US Embassy“

Bolivian President Morales is still infuriated over the flight incident and considers closing of US embassy in La Paz. He is supported by his counterparts from Venezuela and Ecuador.

July 5, 2013

Diplomatic Uproar After Bolivian Emergency Landing in Vienna

After the allegedly forced stop of in Austria, Bolivian President Evo Morales has returned to his home country. International criticism arises, also in regard to Austria’s actions.

July 4, 2013

Rosneft to Take Over Itera Completely

Russian oil producer Rosneft has taken over gas corporation Itera completely and now wants to compete against energy giant Gazprom.

July 2, 2013

Abramovich Withdraws from Politics

Abramovich resigned from office as speaker of the parliament of the Koryakia Autonomous District.

July 2, 2013

Snowden Applies For Asylum in Austria

Former US intelligence official Edward Snowden has applied for asylum in several countries, among them Austria, according to WikiLeaks.

July 2, 2013

Putin Offers Snowden Right to Stay

Russian President Vladimir Putin has offered fugitive IT specialist Edward Snowden a right to stay as long as he will not further harm the US.

July 1, 2013

Turkey Becoming Important Global Investor

According to the latest survey by UNCTAD, Turkey has become an important investor.

June 28, 2013

Austrians to Invest Strongly in FDIs

Austrian investors have increased their direct investments in foreign countries by eleven percent to a total of € 145.5bn while FDIs in Austria remain unchanged at € 118.3bn.

June 26, 2013

Rosneft to Supply China Over 25 Years

Russia’s Rosneft agreed to double oil supplies to China, in a deal worth $ 270bn.

June 24, 2013

Russia: Putin Changes Personnel at Ministry of Economics

In the light of the menancing recession, Russian president Vladimir Putin has reorganized the leaders of economic policy-makers.

June 24, 2013

Mitterlehner: „4,000 New Austrian Exporters Within Two Years“

Internationalization Offensive (IO) “go international” will be prologued until 2015. Economy Minister Mitterlehner and head of the Chamber of Commerce (WKO) Leitl present their main targets for Austrian export.

June 21, 2013

Russia to Improve Relations to China

Russia turns its back on Europe and starts focusing on Asia instead in regard to oil export.

June 21, 2013

Hypo: Deal with Russian Oligarch with “Proper Mortgage”

The investigations into money laundering at the Federal Criminal Office concerning the business with Russian oligarch Vladimir Antonov were brought to an end without any results. There were no arms among the securities.

June 20, 2013

Hypo Group: Business With Russian Oligarch

Austrian magazine „News“ unveils a remarkable business connection of Hypo Group from 2008.

June 19, 2013

Russia Pays Off Debt to Serbia and Slovakia

On Tuesday, the Russian Finance Ministry announced that the country has paid off a $ 2bn debt remaining from the Soviet era to Serbia and Slovakia.

June 19, 2013

Strabag: Haselsteiner to Leave as CEO

Russia will not surpass Germany as the most important market, the outgoing CEO explains. He expresses his disappointment in the market.

June 14, 2013

World Bank: EU11 Countries Remain Attractive for Foreign Investors

Despite the slow recovery of economic activity, EU11 countries nonetheless remained attractive for foreign investors.

June 14, 2013

EU27 Foreign Direct Investment Amounts to € 171bn in 2012

Over 60% of investments from the rest of the world into the EU27 came from the USA in 2012.

June 13, 2013

Gazprom Withdraws from Greek Privatization Offer

The months of courtship were in vain. The Russian enterprises Gazprom and Sintez allowed the period prescribed for the privatization of Greek gas company Depa to expire.

June 12, 2013

Macedonia to Join South Stream Pipeline Project

Contracts will be signed next week in St. Peterburg.

June 12, 2013

Bulgaria: Protests Against Shale Gas Exploration

Protests will make it problematic for the new Bulgarian government to lift the moratorium on shale gas exploration.

June 10, 2013

Strabag: Doubts About Joint Venture in Russia

The Austrian Construction Company Strabag doubts that a joint venture in Russia will take place.

June 10, 2013

Turkey: Erdogan Demands Peaceful End Of Protests

After his return from Northern Africa, Turkish Prime Minister Recep Tayyip Erdogan has demanded an immediate stop of protests in his country. Many Russian investors are supposed to have drawn their assets from Turkey.

June 8, 2013

WIIW: FDI in CESEE to Decline

The Vienna Institute for Economic Studies (WIIW) forecasts a decrease of 20 percent in foreign direct investments.

June 7, 2013

Papa: CEESE To Keep Growth Advantage

Deputy CEO of Bank Austria Papa sees a long-term potential in CESEE countries. Bank Austria is expecting a growing credit business apart from the favorable economic outlook in the region.

June 6, 2013

Croatia: OMV Closed Sale

OMV concluded the sale of 62 gas stations in Croatia.

June 4, 2013

Russia: Gazprom Looking for Alternative Markets

After 40 years of a surge in revenues, Russian energy giant Gazprom has to face turbulent times in Europe.

June 3, 2013

Hypo: Contract Could Be Signed Today

Today the Austrian affiliate of Hypo Group could be transferred to the property of Indian Srei Group. The company is a fast-growing listed enterprise with around 30,000 clients.

May 31, 2013
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