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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
Major Order from Russia for Siemens Austria
The Russian railway company RZD reserves eight high-speed trains “Velaro RUS”. The order will be delivered in January 2014.
December 20, 2011
Norwegian Telenor to Enter Telekom Austria
The core shareholder at Telekom Austria, Ronny Pecik, could re-sell its recently acquired stakes. Telenor and the Russian Sistema are interested.
December 17, 2011
Bank Austria Reviews Strategy for CEE
In its expansion strategy, the bank focuses on four countries. Plans for Hungary and Romania are stopped, up to 450 jobs will be cut.
December 17, 2011
Immofinanz Sells Project in Germany
The Austrian real estate group sells its stake in a project in Düsseldorf in order to grow in Russia and Poland.
December 12, 2011
Sale of Croatian OMV Petrol Stations Begins
OMV´s current market share in Croatia is 13%. Almost every major oil company in Europe shows interest.
December 9, 2011
KapschTrafficCom to Gain Order from Russia
The Austrian toll collect system supplier expects final announcement on the award of a Russian contract in two weeks.
December 5, 2011
OMV Raises Oil Production in Libya
The Austrian oil and gas company OMV receives already about 50% of the pre-war volume. However, a full recovery will need another twelve months.
December 3, 2011
Porr Considers Capital Increase
In order to realize further growth, the owners of the second-largest Austrian construction company plan to raise the equity base.
December 3, 2011
Strabag delivers € 320m Steelworks in Russia
The Austrian construction company has finished its works in Russia. The factory will produce sheet steel in particular to manufacture pipes to be used in pipeline construction.
November 28, 2011
Growing Capital Shortfall at Volksbanken Group
The Austrian bank will need another € 200m in order to comply with the EBA’s capital requirements. The price for the sale of VBI might be reduced to € 500m.
November 24, 2011
Kapsch TrafficCom Reports Strong Growth
Revenues of the Austrian toll system supplier increased by 90%, EBIT more than doubled in the first half of the fiscal year 2011/12.
November 23, 2011
Leitl Promotes Exports to BRICS-Countries
The President of the Austrian Chamber of Commerce, Christoph Leitl, wants the exporting industries to focus more on Brazil, Russia, India, China and South Africa.
November 22, 2011
Conference on European Economic Integration
“European Integration in a Global Economic Setting – CESEE, China and Russia“. Conference jointly organized by the Oesterreichische Nationalbank and Suomen Pankki – Finlands Bank.
November 18, 2011
Immofinanz Refinances Shopping Mall in Moscow
ZAO Raiffeisenbank provides a major loan for the Austrian real estate group in order to expand operations in Russia.
November 14, 2011
Growth Potential in CEE Banking Sector
The Austrian Raiffeisen Bank International has a very favourable growth outlook for six CEE banking markets representing 80 per cent of the region's total banking assets
November 8, 2011
Austrian Wage Increases below European Average
Real incomes are expected to go up by 0.8% next year. The average rate for Europe will be 1.3%.
November 4, 2011
Tourism: Moderate Increase in Guest Nights
The current summer season 2011 brought a rise in overnights by 2.2% for the Austrian tourism industry between May and September.
October 25, 2011
Pecik to Resell Stake in Telekom Austria?
The Austrian investor is reportedly planning to buy further shares and to sell the package to Russian Vimpelcom in several years.
October 21, 2011
International Russia - Austria Conference
Austrian Standards hosts a conference on 2 and 3 November in Vienna. Its topic: International standards as a basis for successful economic co-operation.
October 12, 2011
Bank Austria Optimizing its Activities in Russia
Sergey Sidorov to remain CEO until year end and to support the organizational and strategic Changes. Alexander Cheporov to become Head of Equity Brokerage Operations.
October 11, 2011
UniCredit and Raiffeisen to Expand in Russia
The Italian and the Austrian banking groups will take over customers of the French BNP Paribas, which leaves the Russian market.
October 4, 2011
Hostile Takover of Telekom Austria?
According to market rumors, Telekom Austria prepares measures against a potential takeover. Currently, the corporation faces several troubles.
October 3, 2011
Sergey Monin Appointed as CEO of Raiffeisenbank in Russia
He succeeds Pavel Gurin who passed away at the start of September. The appointment is subject to approval of the Russian Central Bank.
September 30, 2011
Voith Hydro Receives Major Order from Russia
The plant manufacturer was awarded a contract for modernization of a Russian hydro power station. Presence in the country will be expanded through a joint venture.
September 29, 2011
World Tourism Day 2011: Guests from 50 Countries Visit Austria
According to statistics Austria, the diversification of the guest´s nationalities further increased. Culture-oriented travels become increasingly important.
September 26, 2011
Austrian Textile Industry is Optimistic
The Austrian Chamber of Commerce sees a positive development in the domestic textile industry, especially in the export sector.
September 12, 2011
Austrian Telekom: Social Democrats Warn of „Unfriendly Takeover“
For the executive director of the SPÖ, Günther Kräuter, “a new major shareholder from Egypt or Russia would be problematic.”
September 12, 2011
Sale of Volksbank International Finalized
The Eastern European subsidiary will be sold for a price ranging from € 585m to € 645m depending on business performance in 2011.
September 8, 2011
CEE Economic Forum: Green Trends for Eastern Europe
In 2011, Forum Velden in Carinthia celebrates its 5th anniversary. Since its foundation in 2006, over 1.500 experts, top-managers and politicians from over 25 countries have participated in the Forum.
September 7, 2011
CEO of Raiffeisenbank Russia Dead
Pavel Gurin, CEO of Raiffeisenbank in Russia, passed away, the Austrian Bank stated.
September 5, 2011
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