Spain

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

Meet the New Ambassador of the Kingdom of Spain in Austria: Juan Bautista Sunye Mendia

Updated background details of Mr. Juan Bautista Sunye Mendia, the current Ambassador of the Kingdom of Spain in Austria.

February 23, 2018

Meet Her Excellency Austria's New Foreign Minister Karin Kneissl

Karin Kneissl (53) was recently appointed Austrian Federal Minister for Europe, Integration and Foreign Affairs. At present, she is busy touring Europe and introducing herself to her counterparts, or inviting them to the Federal Ministry for Europe, Integration and Foreign Affairs in Vienna.

February 20, 2018

Embassy of the Kingdom of Spain in Vienna, Austria

Updated address and contact details of the Embassy of the Kingdom of Spain in Vienna, Austria

February 14, 2018

Voestalpine Acquires Specialty Steel Firms in Shanghai and Barcelona

Voestalpine steel buys two specialty steel firms. With the purchase of Advanced Tooling Tek (ATT) in Shanghai, China, and the Sermetal Group in Barcelona, Spain, Voestalpine is enhancing its position as a producer of special steels. Both companies are specialized in the processing and sale of special steel products for tool and mold-making, a segment whose main customers are the automotive and electronics industries. Together ATT and the Sermetal Group have around 160 employees and generated a total revenue of around EUR 43 million in 2015.

April 7, 2016

Analysis: Austrian Economy Falls Behind Eurozone Average

The latest "Attractiveness Survey" from consultancy Ernst & Young Global Limited shows, that espite strong fundamentals, Austria’s economy lost some ground on the Eurozone average in 2014, with growth of just 0.4% compared with 0.9% for the Eurozone as a whole. This comparative weakness will also continue in 2015, with Austria’s GDP growth estimated at 1.1%, against 1.5% in the Eurozone. This is despite a boost from lower energy prices, quantitative easing from the European Central Bank (ECB) and a weaker euro.

June 1, 2015

Analysis: Crash of Germanwings Flight 9525 - Investigation and Latest Responses

Yesterday Germanwings Flight 9525 from Barcelona to Düsseldorf, an Airbus A320-200, crashed around 100 kilometres (62 mi) northwest of Nice, in the French Alps. All 144 passengers and six crew members died. People on board by nationality were: Germany 67, Spain 45, Kazakhstan 3, Mexico 3, Argentina 2, Australia 2, Colombia 2, Croatia 2, Japan 2, Morocco 2, Belgium 1, Denmark 1, Israel 1, Netherlands 1, Turkey 1, United Kingdom Several (unconfirmed), and unknown 15. The aircraft had reached its cruising altitude, flight level 380 (approx. 38,000 ft [12,000 m]) at 9:27 GMT. Three minutes later the aircraft began its descent - the purpose of the descent is not currently known. 14 minutes after the initial descent, radar contact with the aircraft was lost. Meanwhile the first cockpit voice recorder was recovered by rescue workers and is being examined by the investigation team. The recorder was damaged in the crash, but was said to be still in a "usable" condition. The search for the flight data recorder was to be a priority when the recovery operation resumed. It is the third-deadliest crash of an Airbus A320, after TAM Airlines Flight 3054 and Indonesia AirAsia Flight 8501, and the third-deadliest aviation disaster on French soil, after Turkish Airlines Flight 981 and Inex-Adria Aviopromet Flight 1308. Unusually, the plane appears not to have deviated from its flight plan during its descent.

March 25, 2015 · Updated: March 26, 2015; 14:30

Ambassador of the Kingdom of Spain in Austria: Alberto Carnero Fernández (2013-2017)

Updated background details of Alberto Carnero Fernández, the Ambassador of the Kingdom of Spain in Austria.

January 1, 2015 · Updated: February 14, 2018; 17:47

Government Debt Increased to 82.6% of GDP in Austria and to 92.7% in Euro Area

At the end of the second quarter of 2014, the government debt to GDP ratio in the euro area (EA18) stood at 92.7%, compared with 91.9% at the end of the first quarter of 2014. Austria's government debt rose to 82.6 percent of GDP in Q2 2014 from 81.3 percent in Q1.

October 23, 2014

Poland: Bank BZ WBK Expects High Growth of Profit

The Polish affiliate of Spanish Banco Santander, Bank BZ WBK, expects net profits in 2014 to increase compared to last year’s volume.

April 30, 2014

Austria: Difficult Market Situation for Selling Bawag

The selling of Bawag PSK proves difficult for its owner which is why an IPO is considered a realistic phasing-out scenario. However, experts doubt that an IPO will be a “highflyer”.

April 24, 2014

Austria: Bawag to Go Public?

Bawag PSK is likely to go public, as reported by Bloomberg.

April 23, 2014

Wealthy Investing in Real Estates in Vienna

Vienna is considered a “safe haven” for real estate investments. In particular, luxury homes, such as the Palais Principe for instance, are more than attractive for wealthy investors.

April 4, 2014

Austria: Dispute about Hypo Credit to Alpine

The granting of a loan to Alpine Bau, which went bankrupt soon afterwards, in the amount of € 25m by Austrian problem bank Hypo Group Alpe Adria has become an issue of the Austrian prosecution.

March 31, 2014

Bawag: Losses for Cerberus Running into Billions

There are persistent rumors that the U.S. investor may leave the Austrian bank. For Cerberus, Bawag is a disaster.

February 11, 2014

Santander on Circulated Sales Talks: „No Comment“

As reported by Vindobona, Spanish Banco Santander is said to be interest in taking over the fifth largest Austrian lender Bawag. Bawag´s management remains silent on this matter.

February 4, 2014

Austrian State Sues Six Banks

The Republic of Austria filed lawsuits against six lending banks of bankrupt construction enterprise Alpine.

January 17, 2014

$ 1.0trn Capital Shortfall in European Banking Sector?

According to U.S. economists, the stress tests carried out by the European Central Bank are too soft.

January 16, 2014

Erste Group and Bank Austria Face Lawsuits

Two Austrian lending banks are involved both as plaintiffs and as defendants in bankrupt construction company Alpine’s court trials.

January 2, 2014

Croatia: Real Estate Market Crisis Goes On

After the collapse of the Croat real estate market in 2009/10, the price decrease still holds on.

December 30, 2013

Austrian Public Debt Reaches New High

The total size of public debt was never before so high. In the next years, the public debt ratio will come close to 80% of GDP.

December 30, 2013

EU Commission: Slovenia Makes “Key Progress”

Slovenia is among 16 EU member states that require comprehensive assessment of macroeconomic imbalances. According to a report published by the EU Commission, the small country shows significant improvement.

November 14, 2013

Austrian Banking Sector: NPL at Eurozone´s Top

In the Eurozone, the non-performing loans are still growing. In total, 7.8% of the loan portfolio is risky. Austrian banks are significantly above the average.

October 30, 2013

Without CESEE Business Alpine Would Still Exist

According to reports by auditor BDO and liquidator Stephan Riel, business in Austria remained profitable for insolvent construction company. If Alpine had never expanded business to CESEE it would still exist.

October 25, 2013

Bill Gates Becomes Second-Largest Shareholder in FCC

Spanish construction company and parent company of Austrian Alpine has a new shareholder: Founder of Microsoft Bill Gates has aquired a participation of around six percent.

October 22, 2013

IMF: „Banks and Companies in a Vicious Circle“

Not only Greece, Spain or Portugal are struggling with a financially stricken banking sector. In Southeastern Europe, the situation is quite similar.

October 11, 2013

Austria: Alpine’s Bankruptcy Claims Amount to € 4.15bn

In regard to construction company Alpine’s insolvency, creditors have so far registered claims in the amount of € 4.15bn, as announced by liquidator Stephan Riel in the run-up to Wednesday’s examination hearing.

October 8, 2013

Porr: Capital Increase and Rise in Profits Expected

CEO of listed Austrian construction company Porr Karl-Heinz Strauss is still in favor of a capital increase in 2014 or 2015 and calls upon the government to create “projects for the future”.

October 7, 2013

Alpine: Almost All Former Employees Have New Jobs

Because of the construction company’s bankruptcy, almost 5,000 employees lost their jobs. Currently 133 persons are still looking for a job.

September 24, 2013

Alpine: Creditors in Austria and Poland Claim Refunds

Not only the labor market in Austria is burdened but also thousands of creditors have invested in bonds of the construction company and are now facing enormous losses.

September 4, 2013

German Affiliate of Alpine Sold

By the selling of the German affiliate of construction company Alpine 520 out of 1,250 employees will lose their jobs.

September 2, 2013

Massive Losses for Alpine: € 5bn in Debts

According to the reports of the insolvency administrators, reasons like a chaotic management and low-price offers that did not prove cost-covering led to massive losses in projects abroad.

August 29, 2013

Austria: Alpine-Energie to be Taken Over by Triton

Former affiliate of construction company Alpine Bau Alpine-Energie, which is based in Linz and was temporarily “parked” with a special company, has a new owner.

August 13, 2013

20,000 Bank Shops Have Closed Since Beginning of Crisis

60 percent of the costs in the business with private clients are caused by bank shops. Still, banks are hesitant to close them as they fear the loss of long-term clients.

August 12, 2013

Alpine Inable to Pay in Mid-2012 Already

Former CFO supposed to have asked Spanish parent company FCC for liquidity assistance in the amount of € 115m, otherwise “we are dead”.

July 24, 2013

Spanish and Polish Prime Minister Support EU-US Free Trade Agreement

On the occasion of a state visit in Madrid, Poland´s Prime Minister Donald Tusk declared that the free trade agreement between the U.S. and the EU would be a driver for economic growth. The EU must strengthen its energy strategy, Tusk said.

July 16, 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

Alpine: Serbia to Withdraw from Contract

Serbia intends to withdraw from the building contracts for the construction of a highway with bankrupt Alpine within the next 15 days.

July 3, 2013

Vienna: Bolivian President Allowed to Continue Journey

Bolivan President Evo Morales had to land in Vienna after several European countries – among them Spain, France and Portugal – refused the right to overfly.

July 3, 2013

Alpine: 2,600 Jobs Secured

Social Minister Rudolf Hundstorfer assumes that a lot of Alpine employees will continue to be employed. Former CEO Schiefer announced that Alpine was “clinically dead” when he took over management in April 2013.

July 1, 2013

Alpine to Be Divided Up

Swietelsky plans to take over 1,500 employees. Strabag announced interest but remains unheard.

June 27, 2013

Alpine: Work to be Resumed At Construction Sites

Time pressure grows. Work at the closed down construction sites of bankrupt Alpine it to be resumed soon.

June 26, 2013

Alpine: Biggest Bankruptcy in Austrian History

Bankrupt-gone construction company Alpine operates at 1,400 construction sites and is supposed to complete orders in the amount of € 800m. The shutting down of the enterprise has been decided.

June 25, 2013

Alpine to Be Shut Down

Bankrupt-gone construction company Alpine is facing a breaking down. After negotiations about establishing a rescue company failed, the enterprise will apply for a shutdown.

June 24, 2013

Alpine-Insolvency: 80 Companies Affected

After an analysis by credit protection association Kreditschutzverband 1870 (KSV1870), the majority of around 1,400 suppliers and subcontractors is not affected by the construction company’s bankruptcy.

June 21, 2013

Austria: Investigations on Loan to Alpine

Apparently ailing bank Hypo Group plays a role in the bankruptcy of Austrian construction company Alpine. The bank is supposed to have granted a bridge loan.