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Hypo Group: Restraining Effect on Budget Consolidation
According to the EU’s autumn prognosis, nationalized Hypo Group and its liabilities running in the billions still have a restraining effect on the Austrian budget consolidation.
November 5, 2013
Austria: Liquidation No Option for Hypo Group
Nationalized-by force Hypo Group Alpe Adria, which is struggling under liabilities running in the billions, will not be closed. OeNB rejects rumors about establishing a bad bank
November 4, 2013
Hypo Group to be Renamed after Sale
After the closing of the sale future owner of Hypo Group Alpe Adria Sanjeev Kanoria from the UK with Indian origins intends to rename Hypo Group.
October 31, 2013
Higher Cost Pressure for Austrian Banking Industry
Due to national and international regulations, Austrian banks have to bear higher costs than their foreign competitors.
October 31, 2013
Hungary: Orban Underlines National Sovereignty
On the occasion of Hungary´s national holiday, Prime Minister Viktor Orban stressed the importance of values. The high public debt limits Hungary´s effective sovereignty, however.
October 24, 2013
CESEE Region Suffers from Migration
The countries of Central, Eastern and Southeastern Europe are confronted with a highly unfavorable demographic trend. The brain-drain is expected to persist.
October 17, 2013
Austria: FMA Approves of Sale of Hypo Group
The Financial Market Authority has given green light for the selling of Austrian problem bank Hypo Alpe Adria to Indian Srei Group.
October 9, 2013
UK: Growth Potential in CESEE
According to the IMF, the UK economy is not diversified sufficiently. Now, UK promotes exports to the CESEE region.
October 5, 2013
Serbia: UK Enterprises Likely to Invest in Serbia
70 British companies are interested in investing in Serbia's economy.
September 6, 2013
Hypo: New Risky Loan Agreements Even in 2012
According to the EU Commission, risky loans were granted by ailing Hypo Group even in 2012.
September 3, 2013
Hypo: Half-Year Results Expected August 28
In order to be able and balance, nationalized Hypo Group required € 700m in capital by the Austrian state.
August 27, 2013
Erdogan Considers Leaving U.N.
Turkey´s Prime Minister Recep Tayyip Erdogan puts pressure on the United Nations. The representation of the Security Council is not balanced, Erdogan criticizes.
August 26, 2013
Austrian Division of Hypo Alpe Adria Managed to Turn A Profit
In the past half year the Austrian division of nationalized bank Hypo Group made small profits.
August 20, 2013
Austria: Kranebitter to Leave Hypo Group
After three and a half years, Gottwald Kranebitter steps back as CEO of nationalized Hypo Alpe Adria. Tax payers are left with a burden running in the billions in the years to come.
August 19, 2013
OMV: Biggest Additional Purchase in Company’s History
OMV invests billions in a participation in the North Sea: The Austrian energy company acquires stakes of Norwegian enterprise Statoil in oil and gas fields in the North Sea for around € 2bn.
August 19, 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
Leitl: Positive Export Development Despited of Economically Difficult Times
The Austrian economy should, according to the President of WKO, focus export growth in third countries and distant markets.
August 10, 2013
Latvia: Saying Goodbye to the Lat
The introduction of the Euro in the Baltic country has been postponed due to the financial crisis. Latvia originally planned to join the single currency union in 2008 already.
July 26, 2013
Abramovich Withdraws from Politics
Abramovich resigned from office as speaker of the parliament of the Koryakia Autonomous District.
July 2, 2013
Turkey Becoming Important Global Investor
According to the latest survey by UNCTAD, Turkey has become an important investor.
June 28, 2013
Latvia Joining The Eurozone As 18th Member
Today the heads of states and governments of the European Union gave their blessing to Latvia’s entry to the Eurozone in 2014.
June 28, 2013
Hypo Group: Business With Russian Oligarch
Austrian magazine „News“ unveils a remarkable business connection of Hypo Group from 2008.
June 19, 2013
Hypo Group: Possible Deductions from Selling Price
The new British-Indian Owner of Hypo Group is to pay only € 32m for the time being.
June 5, 2013
World Competitive Ranking: Austria Loses 7 Ranks
The World Competitive Ranking of Lausanne IMD Private School of Economics has become one of the most significant location comparisons on an international basis in the last 25 years.
May 29, 2013
Rosneft to Take Over Itera
According to a newspaper report, Rosneft intends to take over Russia’s second biggest gas supplier Itera for around € 2.3bn.
May 28, 2013
bwin.party to Concentrate On Ten Markets Only.
After the weak figures in the first quarter, bwin.party CEO Norbert Teufelberger wants to get the online gambling provider back on track. However, the company also cast an eye to enter the US market.
May 23, 2013
Austria: Special Commission to Trace Tax Evaders
Finance Minister Maria Fekter announced the establishing of a special commission which is supposed to use data distributed by the US tax authority.
May 23, 2013
Leitl: „EU Has To Deliver Clear Confession to Business Location Europe”
According to Leitl, the EU Summit has to deliver a “clear confession to business and industrial location” Europe.
May 22, 2013
MotoGP™ and bwin Continue Partnership Until 2015
Commercial rights holder of the MotoGP™ World Championship, Dorna Sports, and bwin, Europe’s largest sports book, announce a two-year extension of their longstanding partnership which began in 2004.
May 22, 2013
UK Believes Strongly Ukraine Should Be Part of EU
Foreign Secretary Hague affirmed the UK’s support and approval of Ukraine’s reform zeal.
May 15, 2013
Main Investors at CEE Stock Exchange Group from US
Institutional Investors and the CEE Stock Exchange Group in 2012.
May 13, 2013
Semeta Confident Austria and Luxembourg Stop Blocking
EU Tax Commissioner Algirdas Semeta does not expect any blocking by Austria for the loosening of the bank secret for foreigners and the transition to the automatic exchange of information.
May 6, 2013
Austria: Four Conditions For Commission In Return for Bank Secret
In a letter to Tax Commissioner Semeta Austrian Finance Minister Fekter and Chancellor Faymann set the conditions for the agreement of a negotiation mandate with third countries about the exchange of information.
April 25, 2013
bwin.party: Application for Block Listing in London
Application for Block Listing to the UK Listing Authority and to the London Stock Exchange
April 19, 2013
Fekter: „Austria is a High-Tax Country“
Bank secrecy will be an official issue at the meeting of EU finance ministers in Dublin on Saturday. Fekter criticizes the UK sharply.
April 11, 2013
Fekter: “I Will Fight to Preserve Banking Secrecy in Austria!”
“Data protection is a valuable institution. We will continue to protect innocent citizens, but will also continue to lead the way in pursuing tax evaders.”
April 8, 2013
Cyprus: Anastasiades Comes Under Suspicion
President Nikos Anastasiades is in dire straits as he is accused of having transferred huge amounts of money to foreign countries and having warned relatives. In the meantime, the austerity package is almost set.
April 2, 2013
Russia Wants Berezovsky’s Heritage
After the death of Kremlin critic Boris Berezovsky, Russia wants to grab the former entreprenuer’s assets.
March 25, 2013
Cyprus to Receive € 10bn in EU Aid Money
Russia being the biggest investor in Cyprus offered extension of credits. In return, austerity measures and reforms are demanded.
March 16, 2013
Eurozone: Cut in Interest Rate Not Necessary
According to govenor of the Austrian National Bank an interest rate cut to improve the economic situation in the eurozone is not required at the moment. UKIP Leader Farage criticizes politicians for denying problems in eurozone.
March 14, 2013
Austria: New Head of Division for Magna
Former head of Opel, Karl-Friedrich Stracke, is going to assume the automotive engineering division at Magna in Steyr, Austria.
March 12, 2013
Russia: Rosneft Takes over TNK-BP
The EU Commission has approved of the fusion of TNK-BP and Rosneft. According to the commission, Rosneft will still have business competition.
March 11, 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
Does the Hungarian Telecommunication Sector Face Nationalizations?
According to rumors, Hungary´s government plans to nationalize the Hungarian subsidiary of the telecommunication operator Vodafone.
March 2, 2013
Austrian Exports Reach new All-Time High
The Austrian Chamber of Commerce (WKO) today presented the foreign trade results of 2012. This year, WKO´s President Christoph Leitl expects s moderate increase in exports.
February 21, 2013
Poland Underlines Necessity of Cohesion Funds
At the EU summit, Poland wants to secure as much cohesion payments in the next multiannual financial framework from 2014 to 2020.
February 7, 2013
Spindelegger Criticizes Cameron
Austria´s Foreign Minister: "Not cherry picking but more Europe is the key".
January 23, 2013
Eder Reaffirms: „European Industrial Sector Is in Danger“
In an interview with the Austrian news magazine “Presse”, voestalpine´s CEO Wolfgang Eder criticizes the European industrial policy sharply.
January 21, 2013
OeNB Does Not Bring Gold Reserves to Austria
Unlike Deutsche Bundesbank, the Austrian National Bank (OeNB) does not transfer the gold reserves from London back home.
January 17, 2013
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