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Verbund Faces Competition from Russia
The Russian energy group Inter Rao is interested in the Milan-based Sorgenia. Austrian Verbund holds 45% in Sorgenia.
March 20, 2012
Pecik Aims to Become Telekom´s Biggest Shareholder
The second-largest shareholder of Telekom Austria, the investor Ronny Pecik, wants to enlarge his stake further in order to initiate a restructuring.
March 17, 2012
Japanese NTT to Enter Telekom?
Telekom Austria will get a new partner. Newest rumors say that NTT could buy Pecik´s stake. Norwegian Telenor is still interested.
March 16, 2012
Raiffeisen Energy & Environment Sells Bulgarian Assets
The subsidiary of the Austrian Raiffeisen Leasing sells Bulgarian wind parks to Lukerg Renew.
March 14, 2012
Canadian Valeant Buys Assets of Gerot Lannach
The Austrian drugmaker Gerot Lannach sells its acetylsalicylic acid business in Russia. The sale price amounts to $ 185m.
March 13, 2012
Ghizzoni: „Austrian Bank Tax Is Painful“
The Chief Executive Officer of UniCredit, the holding company of Bank Austria emphasizes not to sell the Austrian subsidiary. The bank tax is “unfair”.
March 10, 2012
RBI Mandated Lead Arranger and Bookrunner for Moscow Airport
The loan of € 165m for the largest Russian Airport is for general corporate purposes. The international financing consortium consists of ING, Société Générale and RBI.
March 9, 2012
Henkel CEE Achieves Stable Results
The Vienna based CEE-headquarters of the German Henkel Group raised sales by 7.2% in 2011.
March 8, 2012
RHI Has Growth Plans
The Austrian producer of fireproof ceramics puts effort into growth. Major investments and acquisitions are planned.
March 7, 2012
Uniqa Aims for Growth in CESEE Region
The Austrian insurance group wants to sell stakes by the minority shareholders of subsidiaries in Eastern Europe. The capital increase is scheduled for 2013.
March 5, 2012
VBAG´s Executive Board Asked to Resign
Parts of the Volksbanken sector, which hold stakes in VBAG, offer resistance to the management board.
March 3, 2012
Nabucco: Costs Could Grow Further
The pipeline consortium Nabucco checks whether the project becomes more expensive than expected. Costs of € 15bn are forecasted.
March 3, 2012
VBAG to be Acquired by BAWAG?
According to market rumors, the financially stricken VBAG could be taken over by the U.S. investment fund owned Bawag.
March 2, 2012
VBAG´s Rescue Endangers Austerity Targets
In 2012, savings should reach € 576m. However, only write-offs in VBAG cost € 700m. The Austrian government seeks for additional revenues.
February 29, 2012
Atos Keeps Vienna as CEE Headquarters
After the takeover of Siemens IT solutions (SIS), the French IT service provider keeps Vienna as headquarters for Central and Eastern Europe.
February 27, 2012
Partial Nationalization of VBAG Planned
The financially stricken Austrian bank receives new capital. The Republic of Austria makes contributions of € 1.05bn. Bank taxes will increase.
February 27, 2012
Immofinanz to Become a „Property Machine“
CEO Eduard Zehetner wants Immofinanz to become a full developer, operator and seller of top-real estate objects. The company should be transformed to a “property machine.”
February 25, 2012
Frauenthal Considers Short Time Work
The Austrian component supplier experiences the first signs of the economic crisis. As orders are going down by 10% to 15%, short time work becomes an issue again.
February 24, 2012
Sberbank Upgrades VBI´s Headquarter in Vienna
After the acquisition of the Austrian VBI, the Russian bank wants to expand massively in Europe.
February 20, 2012
Siegfried Wolf Enters Sberbank
The Austrian national and executive at Magna in Russia becomes President of VBI´s supervisory board.
February 16, 2012
Vienna Stock Exchange Cooperates With Eurex
With Eurex derivatives exchange, Vienna Stock Exchange wins a new customer.
February 16, 2012
Agrana Expands in Russia
The Austrian fruit and starch company invests € 27m in a factory site in Russia.
February 16, 2012
VBI Sale to Sberbank Finalized
With the sale of the CEE segment of the Austrian VBAG, Russian Sberbank enters Eastern Europe.
February 15, 2012
Russia: Great Demand for Austrian Food
Due to rising purchase power of Russian households, Austrian food exports to Russia are booming. In 2012, the Russian retail trade sector is expected to grow by 15%.
February 14, 2012
Massive Increase in Energy Consumption
Austrian power plants are running at full speed. Energy supply was up by 14% last week.
February 11, 2012
Gazprom to Double Natural Gas Reserves in Europe
The Russian natural gas supplier Gazprom intends to improve supply security in Europe. Gas reserves in Austria should be extended too.
February 10, 2012
Russian Natural Gas Supply to Normalize
According to the Austrian oil and gas company OMV, gas deliveries from Russia are increasing slightly.
February 8, 2012
Oettinger Expects Succesful Contracts Over Gas Deliveries
The EU-Commissioner for Energy, Günther Oettinger, anticipates that Azerbaijan will close contracts over natural gas deliveries within the coming months.
February 8, 2012
Euro-Crisis: Austrian Managers are Optimistic
In spite of the current euro-crisis, most Austrian managers believe that the currency will remain. Moreover, a deepening of the cooperation between EU-member states is expected.
February 6, 2012
Mitterlehner: „Shortages in Russian Gas Supply Not Dangerous“
For The Austrian Minister of Economics, Reinhold Mitterlehner, the sudden cut in Russian natural gas supply is “no dangerous scenario”.
February 6, 2012
VBI Sale: Closing Expected for Mid-February
The Russian Sberbank buys VBI from Austrian VBAG. The price totals € 505m.
February 6, 2012
Shortened Natural Gas Supply from Russia
The Austrian oil and gas group OMV reports that Russian natural gas exports only reach 70% of its normal level.
February 2, 2012
OMV: „No Shortage in Natural Gas Supply“
Russian media reported on natural gas supply reductions for Europe. Gazprom denies, OMV refers to large natural gas reserves.
February 1, 2012
Sberbank: € 500m for Austrian VBI
The Russian Sberbank officially bids € 500m for VBI, the subsidiary of Austrian VBAG.
January 26, 2012
New Records for Viennese Tourism
In 2011, the Austrian capital registered 11.4 million guest nights, which is a new record.
January 24, 2012
Moderate Growth at Darbo
The Austrian jam producer Darbo could continue ist growth course in 2011. Sales were up by 2.5%.
January 23, 2012
Turkey Emphasizes Support for Nabucco
Besides the Russian South-Stream project, Turkey also shows support for Nabucco, where Austrian OMV is strongly engaged in.
January 21, 2012
VBAG No Systemic Bank Anymore
After the sale of VBAG´s subsidiary VBI to Russian Sberbank, the bank will not be systemic anymore, the Austrian Financial Market Authority announced.
January 21, 2012
RWE Considers Alternative to Nabucco
German RWE shows interest in rival project TANAP and considers getting out of Nabucco.
January 20, 2012
OMV to Sell Petrol Stations in Croatia and Bosnia
The Russian oil company Zarubezhneft is interested in OMV´s Bosnian and Croatian petrol stations.
January 18, 2012
Billa Has Growth Plans in Russia
The Austrian subsidiary of German Rewe Group intends to take over the Russian competitor Citystore.
January 16, 2012
VIG Has „No Problems in Hungary“
“We are an insurance group and not a bank.”, said the management of Vienna Insurance Group. Nevertheless, the developments are observed thoroughly.
January 11, 2012
Siemens Austria Achieves Major Order in Russia
The Austrian subsidiary of the German technology group constructs the largest pellet plant in Russia.
January 4, 2012
Kapsch TrafficCom Wins Major Contract in Russia
The Austrian supplier of toll collection systems was chosen for the operation of a 400 km-long segment of the M4 Federal Highway.
December 29, 2011
VBAG: Sale of VBI to Be Closed in 2012
Contrary to the original schedule, the sale of the eastern European bank will not be closed by the end of the year.
December 29, 2011
Tourism: Slight Increase in Capacities
Austria offers 65 200 accomodation establishments and 1.09 million beds for tourists in 2011.
December 28, 2011
Growth Potential for Semperit
The Austrian synthetic product manufacturer already recognizes the weakening of the business cycle. However, investments will not be reduced. The BRIC countries are seen as future markets.
December 27, 2011
CA Immo, Warimpex and UBM Open Airport City St. Petersburg
The Austrian real estate companies concluded the first phase of the office building and hotel project in direct vicinity of St. Petersburg’s Pulkovo 2 international airport.
December 23, 2011
Record-Breaking Start of Tourism Winter Season
Austria’s tourism industry registered 3.98 million overnights in November. Arrivals rose by 3.5%.
December 23, 2011
Pecik Extends Stake in Telekom Austria
The Austrian investor Ronny Pecik is told to become the largest shareholder in Telekom Austria. Up to 29% are possible.
December 20, 2011
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