Turkey

CSC: Substantial Growth in CEE Markets Expected

The U.S. IT service supplier CSC upgrades the Viennese subsidiary again. Recently, CSC Austria became a regional headquarter for ten countries. Now, a R&D center was created.

April 5, 2012

Nabucco Sees Decision on Combination With Tanap Next Year

Nabucco Gas Pipeline International GmbH, the € 7.9bn ($ 10.5bn) project to ship Caspian fuel to Europe, expects to make a decision on whether to link up with the competing Trans-Anatolia Pipeline next year.

March 22, 2012

Andritz Receives Major Order from Turkey

The Austrian technology Group Andritz has received an order to supply equipment for Beyhan-1 hydropower station in Turkey. The order value amounts to € 44m.

March 21, 2012

Austria Is Largest Investor in Turkey

In 2011, Turkey recorded $ 15.7bn in foreign direct investments, which is a rise by 74%.

March 20, 2012

Downsizing of Nabucco Plans

The companies behind the proposed 3,900km Nabucco pipeline that would carry natural gas from the Caspian region to Europe have pitched a slimmed-down version of the project.

March 16, 2012

Turkey as Growth Market for Siemens Austria

Siemens Austria ´s CEO Wolfgang Hesoun regards Turkey as most attractive growth market, as the economy is highly diversified and shows high economic growth rates.

March 12, 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

RHI Has Growth Plans

The Austrian producer of fireproof ceramics puts effort into growth. Major investments and acquisitions are planned.

March 7, 2012

RHI Exceeds Expectations

The Austrian producer of fire-proof ceramics could raise revenues by 15.5%. EBIT was up by 19.8%.

March 6, 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

Andritz: Controversial Projects in Brazil and Turkey Are Going According to Plans

The Austrian machine manufacturer Andritz participates in the construction of two major hydro power plants in Turkey and Brazil.

March 2, 2012

Verbund Reports Mixed Results

The decline in profit by 12% in 2011 is justified with “difficult conditions in the energy market environment and the overall economy”. Sales and operating results were up substantially.

February 29, 2012

Verbund: Analysts Expect Mixed Results

Analysts anticipate a rise in earnings and sales at the Austrian energy supplier. EBITDA and profits are expected to decline.

February 28, 2012

Merger of Nabucco-TANAP Discussed

Members of the gas pipeline projects Nabucco and TANAP talk about a merger in Vienna. The Turkish Minister of Energy participates therein.

February 28, 2012

Decision on Nabucco Again Postponed

The natural gas consortium „Shah Deniz II“ postpones its decision by one year. OMV´s CEO Gerhard Roiss underlines the importance of a pipeline to the Austrian hub Baumgarten.

February 24, 2012

Baumax Faces Stagnation

The Austrian building center chain records declining sales in real terms in Austria. Growth rates are observed in Eastern Europe.

February 24, 2012

CSC Establishes its CEE Headquarters in Vienna

The U.S. IT service supplier CSC upgrades the Viennese subsidiary as regional headquarters for ten countries.

February 22, 2012

Turkey as Target for Austrian Construction Industry

As Turkey wants to modernize its infrastructure, Turkey is seen as growth market. Strabag intends to participate in future projects.

February 22, 2012

OMV Surpasses Market Expectations

The Austrian oil and gas company today announced its results for the fourth quarter. Dividends will rise to € 1.10 per share. Clean CCS EBIT was up by 29%.

February 22, 2012

Nabucco Still Competes For Gas in Azerbaijan

The gas pipeline project, in which the Austrian oil company OMV is engaged, now enters the critical phase.

February 21, 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

Bulgarian Vivacom: Telekom Austria Has Only Outside Chances

The second-largest Bulgarian telecommunication enterprise is for sale. Telekom Austria is still interested, in spite of dismal prospects.

February 14, 2012

Enso Hydro Looking for Hydro Power Plants in SEE

The Austrian hydro power specialist aims for collecting € 70m of Deutsche Bank´s subsidiary DWS. Currently, enso hydro searches for new hydro power projects.

February 1, 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

RWE Considers Alternative to Nabucco

German RWE shows interest in rival project TANAP and considers getting out of Nabucco.

January 20, 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

OMV Starts Downsizing Operations

The Austrian oil and gas company starts to reduce the weighting of the Refining and Marketing (R&M) business segment in the overall portfolio.

January 13, 2012

CEE Investments Recommended

According to Erste Group, equities to become more attractive in 2012 compared to 2011. Turkey is seen as highly interesting investment location.

January 4, 2012

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

Increasing Gap in Incomes

Although Austria´s Gini coefficient is relatively low, the gap between high and low incomes becomes larger.

December 6, 2011

Jobs to be Cut at Bank Austria

After the announcement of high write-offs yesterday, the Austrian subsidiary of UniCredit will reduce its staff from 10,800 to 10,000 by 2015.

November 15, 2011

Stable Results for Mayr-Melnhof

The Austria cartonboard producer announces rising sales, earnings and profits. However, the outlook is less optimistic. Mayr-Melnhof sees declining margins.

November 15, 2011

Raiffeisen's Comment on Current Developments of CEE Eurobonds

Eurobond markets felt the deteriorating market sentiment in recent weeks, reported Raiffeisen Research.

October 18, 2011

OMV Promotes Nabucco Project Abroad

The Austrian oil corporation OMV pushes the gas pipeline project Nabucco in Turkey, Azerbaijan and Turkmenistan.

October 11, 2011

BP Plans Rival Project to OMV´s Nabucco

The British Petrol Corporation intends to open up new gas fields in the Caspian region. BP is thus a new competitor for the Austrian OMV.

September 27, 2011

“Austrian Exports to Turkey to Double“

According to the Austrian Chamber of Commerce in Istanbul, Austrian companies could benefit strongly from the persisting economic boom in Turkey.

September 26, 2011

OMV Strategy Update: “Profitable Growth”

OMV is hosting a Capital Markets Day and Media Summit in Istanbul to present an update on its strategy. The Strategy builds on growing OMV’s upstream portfolio, on expanding its integrated gas business and on restructuring the oil downstream segment

September 21, 2011

Andritz to Supply Hydropower Equipment to Norway´s Statkraft

The Austrian Andritz Hydro has received a major order from Çetin Enerji A.S., a subsidiary of Norway's state owned electric utility company Statkraft,

September 21, 2011

OMV Publishes New Strategy

Gerhard Roiss became CEO of the Austrian OMV six months ago. This week, Roiss will present the company´s strategy at the capital market´s day in Istanbul, Turkey.

September 19, 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

Constantia Flexibles Acquires Turkish Asaş

The subsidiary of Constantia packaging took over 93% of the Turkish company. The deal has already been approved by the cartel authorities.

August 11, 2011

Atrium Executes Settlement Agreement with Multi Investment

As a result of the agreement, the American-Israeli real estate fund will receive net cash of € 64m and generate a profit of € 156m.

July 15, 2011

Nabucco Legal Framework Finalized

Project support agreements were signed by each transit country. They are a prerequisite for the successful financing of the pipeline.

June 8, 2011

New Chance for Verbund in Turkey

The Austrian electricity company might win a contract for the power supply in three Turkish provinces after a competitor has withdrawn its bid.

June 6, 2011

OMV: New CEO and Organizational Structure of Its Turkish Operations

Gülsüm Azeri is going to succeed Melih Türker as CEO of the Austrian oil and gas group’s Turkish operations.

May 25, 2011

Austrian FDI: 2010 Was a Year of Stabilization

Active foreign direct investment increased, while inward flows stagnated in 2010. Turkey was the top destination for Austrian investors.

May 18, 2011

WIFI International: Partnership with TOBB University of Ankara

The Austrian (WKÖ) and the Turkish (TOBB) Economic Chambers have signed a Letter of Intent for an educational partnership with WIFI.

May 11, 2011

Is Nabucco Turning into a Cost Trap?

The Nabucco gas pipeline could be twice as expensive as previously planned, according to sources from Turkey.

May 6, 2011

CEO Roiss: "Gas and Oil Remain the Core Business"

Renewable energies are already part of the program of OMV, said Gerhard Roiss. However, oil and gas will dominate in Europe until 2020.

May 5, 2011

Leitl: "Austria was the Largest Investor in Turkey in 2010"

WKÖ President Leitl pointed to the intense economic links between the two countries during the state visit of Turkish President Abdullah Gül to Austria.

May 4, 2011
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