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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
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
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
Cost of Living Rankings: CEE Capitals Cheaper, Vienna is 32nd Most Expensive City
The Mercer's 2014 Cost of Living Rankings have been published and cover 211 cities across five continents. While Western European cities have all risen in the rankings mainly due to the strengthening of the Euro against the US dollar, most cities in Central and Eastern Europe (CEE), however have fallen in the ranking as a result of local currencies depreciating against the US dollar. Bratislava (#84), Prague (#92), Kiev (#98), Ljubljana (#116), Zagreb (#120), Budapest (#135), Warsaw (#142), Belgrade (#184).
July 25, 2014
Poland: BNP Paribas Bank Polska Hopes for Higher Profits
Because of the merger with BGZ Bank BNP Paribas Bank Polska, the Polish branch of the French financial giant, expects a growth of return on equity (ROE) in the double-digit figures.
April 24, 2014
Austria: Fitch Warns Banks of Risk with Business in Russia
The menacing sanctions against Russia with regard to the political crisis in Crimea could become a severe danger for Austrian banks.
April 1, 2014
Poland: Rabobank Polska Gives up BGZ
Dutch financial institute Rabobank wants to get rid of BGZ.
March 6, 2014
Bulgaria: FDI Keeps Increasing
FDI (foreign direct investments) increased by € 1,229.4m in Bulgaria in 2013 while equity capital came at € 953.4m last year.
February 18, 2014
Hypo Group: Bad Bank Active at Least 10 Years
Austria’s rating by Standard & Poor’s (“AA+”, stable outlook) is currently not compromised. Because of the establishing of the bad bank the debt rate will rise four to six percent.
February 12, 2014
Industrial Sector: Growth Painfully Slow
According to a survey by research institute Markit, industrial production in the Eurozone increased in October for the fourth time in a row. However, the rate of growth is still low.
November 4, 2013
WKO: Austrian Enterprises Miss out on Potential in Turkey
According to a commercial councelor at the Austrian Chamber of Commerce (WKO) in Istanbul, Austria is focused too much on Eastern Europe. Switzerland exports triple the amount to Turkey.
September 19, 2013
Wifo: Economy Remains Competitive Despite High Wages
Head of Wifo (Austrian Institute for Economic Research), Karl Aiginger, calls for a change of views in economic policy as competitiveness is more than just low costs.
September 18, 2013
Austria: Leitl Demands Impulses for Growth and Employment
Enterprises need to be motivated instead of being burded by further taxes, President of the Austrian Chamber of Commerce (WKO) Christoph Leitl argues.
August 1, 2013
Polish Road Authority As Tardy Payer
Prime Minister Tusk seems unimpressed about ambassadors from six countries filing a complaint.
June 19, 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
Lopatka: "Visa Cooperation Reinforces Mutual Ties Between Austria and the Czech Republic"
Austrian State-Secretary on the signing of a new agreement and working meetings in Prague.
June 4, 2013
Gazprom to Be Joined By Shell
Russian energy giant Gazprom and British-Dutch oil producer Shell announced cooperation.
April 9, 2013
Bulgaria/Romania: Schengen-Entry Postponed
The two countries will not become part of the Schengen-zone in 2013. EU interior ministers meet to discuss problem of “social tourism”.
March 7, 2013
Heineken Shuts Down Viennese Headquarters
The Dutch beer producer shifts its CEE-headquarters from Vienna to Amsterdam.
January 14, 2013
Borealis to Acquire Dutch DEXPlastomers
The Austrian chemical group expands into the Netherlands.
November 12, 2012
EU Budget Cuts would Affect Poland
In the last six years, Poland benefitted substantially from EU funds. A cut of € 23bn is being discussed.
October 30, 2012
Slim Now Officially Core Shareholder of Telekom Austria
América Móvil Holds Directly and Indirectly 22.76% of Total Shares of Telekom Austria AG. The seller, the Austrian investor Ronny Pecik has no shares in Telekom Austria anymore.
September 25, 2012
Bulgaria: Massive Increase in Foreign Direct Investments
In the first seven months of 2012, FDI was up by 125%. The Netherlands was the biggest investor.
September 15, 2012
Debt Crisis: “Somebody Will Have to Pay”
European Forum Alpbach 2012: Andreas Treichl, CEO of Erste Group thinks that the internationalization of the banking industry cannot be reversed. According to Treichl, the European citizens will have to pay for the crisis.
August 30, 2012
Telekom Austria Considers Partnership With Dutch KPN
At the beginning of December, Telekom Austria´s CEO Hannes Ametsreiter will present a common strategy with Dutch KPN. In meantime, synergies should be found.
August 29, 2012
Stronach Enters Political Stage
The Austro-Canadian industrialist Frank Stronach founds his own party and intends to run for the next election in 2013. Stronach wants Austria to leave the Eurozone.
August 13, 2012
Botlek Lift Bridge: Major Order for Waagner-Biro
Waagner-Biro Bridge Systems AG has received de order for the drive system of "Botlek lift bridge" with a value of € 30m and has firmly established itself against well-known international competitors.
July 17, 2012
Fischer Wants to Check ESM
Austria´s Federal President Heinz Fischer does not sign the ESM approval by the Austrian Parliament yet. „I am not under time pressure.“ he says.
July 11, 2012
Immofinanz Expands into Netherlands
With the acquisition of a property in the Dutch city of Den Bosch during mid-June, the Austrian real estate Group has further expanded its self-storage portfolio.
June 26, 2012
Keuschnigg: „Raising ESM for Italy and Spain“
Christian Keuschnigg, director of the Austrian Institute of Advanced Studies (IHS) argues for raising ESM funds to € 1,000bn.
June 4, 2012
The Euro - A Big Error (Part 4)
The common currency did not create convergence, but widened the gap between Northern and Southern Eurozone member states.
May 31, 2012
New Records for Austrian Tourism
Winter season 2011/12: with 64.3 million overnights still at a high level; new record of 16.4 million arrivals.
May 24, 2012
Strong Increase in Austrian FDI
Only in 2007, Austrian investors made more investments abroad. Last year, FDI totaled € 22bn.
May 14, 2012
ESM: The Final Ruin of Europe
Solidarity with financially stricken EU countries cannot justify the irrevocable loss of national sovereignty. The transfer union will only work until the financial collapse of Germany and Austria.
May 2, 2012
Small Growth in Austrian Winter Season
The current tourism winter season 2011/12 recorded a rise in overnights by 2.1%.
April 26, 2012
AMAG Sale Completed
The last tranche in the Austrian aluminum producer AMAG was sold by CP Group/One Equity Partners to the Austrian B&C Industrieholding AG.
April 25, 2012
Austria Must Underline its Headquarter Function
Austria as hub for CEE markets is still popular. Nevertheless, there is a lack in a sustainable and flexible strategy. The geographical proximity to CEE countries is insufficient.
April 2, 2012
UK Investor Plans Sale of Iglo
The British company should get new owners soon. The consequences for the Austrian subsidiary are unknown yet.
March 27, 2012
Stable Results at Austrian Post
In 2011, Austrian Post could raise revenues by 4.2%. EBIT climbed up by 7.2%. The dividend increases by 6.3% to € 1.70.
March 15, 2012
Siemens Austria Has Growth Targets
The Austrian subsidiary of the German Siemens Group builds a new factory at the Viennese sub-headquarters.
February 24, 2012
Head Reported Lower Sales and Earnings
The Dutch Ski producer, which has its production facilities in Austria, registered a decrease in sales of 1.3%. Higher amortizations caused a reduction in profits.
February 23, 2012
Doppler Mineral Oil Announces Record in Sales
The largest independent mineral oil trader in Austria recorded sales of € 886.9m (+19%).
February 16, 2012
Substantial Growth for ING DiBa
The Dutch Bank Group achieved a 12% growth in customers in Austria. Deposits were up by 9.5%.
February 13, 2012
Schlumberger Records Rise in Earnings
In spite of difficult market conditions, the Austrian sparkling wine producer holds on its ambitious growth targets. Exports should be reinforced.
February 10, 2012
New Record for Austrian Wine Exports
Although the quantity of wine exports is shrinking steadily, the export volume worth € 126m reached a new record.
December 28, 2011
Tourism Industry Looks Back on Strong Summer Season
Summer season 2011: Arrivals exceed 18 million mark for the first time; 64 million nights spent.
November 23, 2011
Siemens Austria Finishes Dutch Gas Power Plant
The contract value for the gas and steam power plant amounts to € 570m. 1.4 million households will be served with electricity.
November 21, 2011
Siemens Austria to Manufacture Trams Worth € 100m
The German technology group will build 40 new generation vehicles in Vienna, with parts coming from the plant in Graz.
November 18, 2011
Head’s Loss Widens Further as Costs Increase
The Dutch Vienna-listed sports equipment manufacturer generated a net loss of € 12.4m in the first nine months of the year.
November 10, 2011
Winter Tourism: Austria is Favorite for Dutch
Dutch people appreciate Austria as winter tourism location. According to a survey, Austria is ranked on number one.
November 5, 2011
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