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The Netherlands

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