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Best Gaming Technology Acquired by Rival Playtech

Vienna-based maker of software for self-service betting terminals Best Gaming Technology (BGT) has been acquired by UK gambling software group Playtech for €138m. Playtech holds the option to purchase the remaining shares for up to €55m from Armin Sageder, the company’s founder and chief executive.

July 14, 2016

Brexit and Its Consequences for Austria

Like any other economy within the euro area, Austria will also be confronted with challenges following the Brexit vote, according to the latest analysis by RBI Research analysts. However, the economic momentum should not experience any noticeable weakening, even though one should expect considerable declines in exports to the United Kingdom.

July 1, 2016

CESEE Outlook: Modest Recovery - EU is Obstacle to Growth – BREXIT Poses Uncertainties

According to the latest prognosis of the Vienna Institute for International Economic Studies, the countries of Central, East and Southeast Europe (CESEE) will have a trend growth rate of up to 3% in the period of 2016-2018. This is 1-1½ percentage points higher than average growth in the eurozone. Consumption will be the main growth driver. The Austrian economy is still benefiting from its economic ties with the region. Direct effects of BREXIT on the region will be limited – indirect effects for the European economy as a whole may be considerable.

June 29, 2016

Agenda Austria Recommends Campaign Against Öxit

Think tank Agenda Austria recommends the government in Austria to devise a large campaign against an Austrian exit ("Öxit”), highlighting the benefits of EU membership, since the experts anticipate an increase in discussions concerning this issue.

June 27, 2016

What Brexit Means for Austria: Mitterlehner, Kurz, Fiat Steyr

Mitterlehner hopes that the referendum will end in Britain staying in the EU. Kurz says, that Brexit would be terrible. Fiat could relocate production of agriculture and construction machine maker CNH (Case New Holland) from UK to Steyr in case of Brexit.

June 20, 2016

UK Appoints New Ambassador to Austria and the United Nations in Vienna

Mr. Leigh Turner CMG has been appointed Her Majesty's Ambassador to the Republic of Austria and UK Permanent Representative to the United Nations in Vienna. Mr. Turner currently serves as British Consul-General in Istanbul. After joining the Foreign and Commonwealth Office from 1984 to 1987 he already has had a posting in Austria before Turkey. The new ambassador to the Republic of Austria will take up his post in August 2016.

February 18, 2016

Jaguar Land Rover Signs Deal to Manufacture Cars in Austria

Tata Motors-owned luxury carmaker Jaguar Land Rover (JLR) said it has signed a contract manufacturing agreement with Austrian automotive firm Magna Steyr in another step to enhance its worldwide production line and build global footprint.

July 29, 2015

IAEA's Position and Road-Map Regarding Iran's Nuclear Program

The International Atomic Energy Agency (IAEA) and the Islamic Republic of Iran (Iran) agree, in continuation of their cooperation under the Framework for Cooperation, to accelerate and strengthen their cooperation and dialogue aimed at the resolution, by the end of 2015, of all past and present outstanding issues that have not already been resolved by the IAEA and Iran.

July 14, 2015

Iran Nuclear Deal: Joint Statement by Federica Mogherini and Iranian Foreign Minister

The joint statement by EU High Representative Federica Mogherini and Iranian Foreign Minister Javad Zarif calls on the world community "to support the implementation of this historic effort". "The Joint Comprehensive Plan of Action is a balanced deal that respects the interests of all sides. It is also complex, detailed and technical."

July 14, 2015

Iran Nuclear Deal: Historic Agreement in Vienna

The so-called P5+1 - the US, UK, France, China and Russia plus Germany and the EU have reached a "historic" deal with Iran on limiting Iranian nuclear activity in return for the lifting of international economic sanctions. The deal, known as the "Comprehensive Joint Plan of Action", was signed today in Vienna.

July 14, 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

Andritz Signs EUR 250 Million Deal in the UK

Listed engineering group Andritz will supply equipment worth EUR 250 million for the world’s first tidal lagoon hydropower project in Swansea Bay, Wales.

February 10, 2015

Mid Europa Partners' New Fund to Invest EUR 800 Mln in CEE

Mid Europa Partners, the British private equity firm focused on buyouts in Central & Eastern Europe, announced the final closing of Mid Europa Fund IV at €800 million, complemented by an additional pre-allocated co-investment program of €650 million. Fund IV represents the largest dedicated fund to the CEE Region raised in the last 5 years.

September 5, 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

Hypo Alpe-Adria-Bank AG Changes Its Corporate Name to Austrian Anadi Bank AG

HYPO ALPE-ADRIA-BANK AG, former Austrian subsidiary of HYPO ALPE-ADRIA-BANK INTERNATIONAL AG, adopted a change in corporate name to Austrian Anadi Bank AG by means of an amendment to the articles of association approved at the extraordinary shareholder's meeting held on 16 June 2014.

June 27, 2014

Austria: Mitsubishi Takes Over Majority Stake in Siemens‘ VAI

The industrial systems subsidiary of Siemens, VAI with the business location in Linz, is sold to Japanese competitor Mitsubishi Heavy Industries (MHI).

May 7, 2014

Austria: Hypo Reveals Profit Losses

The Austrian branch of Hypo Bank, which was privatized last December and is going to be renamed to Austrian Anadi Bank, has published the annual financial report for the year 2013.

April 30, 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

Poland: PZU to Take over RSA’s Baltic Branch?

Polish insurance company PZU intends to take over the Baltic assets of British ailing insurer RSA.

April 1, 2014

Austria: Controversies Around “Council of the Wise“

Finance Minister Spindelegger claims the appointing of the “Council fo the Wise” for problem bank Hypo Group Alpe Adria was the idea of Chancellor Faymann.

March 4, 2014

Hypo Group: New Figures Added to Number Games

The number games in regard to Hypo Group’s downsizing to not seem to cease. New figures will be released by the bank’s task force at the beginning of next week.

February 27, 2014

Austria: National Assembley Rejects Investigation Committee

The parliamentary investigation committee for Hypo Group, demanded by the opposition parties, was rejected in a roll-call vote in the National Assembley.

February 26, 2014

Leaders from Western Balkans Meeting at EBRD

Prime Ministers from the Western Balkans are gathering to discuss economic cooperations.

February 25, 2014

Austria: Hypo Group Council to Strain Budget Even More

The Finance Ministry will appoint an international consulting team for the downsizing of nationalized problem bank Hypo Group Alpe Adria. However, costs are increasing dramatically by this step.

February 25, 2014

Hypo Österreich = Austrian Anadi Bank

Hypo Österreich will be renamed to “Austrian Anadi Bank”.

February 20, 2014

Austria Most Popular Country among Hungarians

93 percent of Hungarians feel compassion towards Austria.

February 19, 2014

Spindelegger Positive about Creation of Financial Transaction Tax

In the run-up to the beginning of the ECOFIN Council in Brussels, negotiations about the further proceeding of the financial transaction tax were held among eleven EU finance ministers.

February 18, 2014

VSE and Kazakhstan Stock Exchange to Intensify Cooperations

Vienna Stock Exchange (VSE) and Kazakhstan Stock Exchange intensify cooperation – joint data vending agreed.

January 30, 2014

London Roadshow with Austrian Companies

Austrian Companies with Erste Group and the Vienna Stock Exchange on Road Show to London

January 27, 2014

Austria: OeNB Forecasts Modest Economic Growth

According to the Austrian National Bank (OeNB) economic growth in Austria only came at 0.3 percent last year.

January 24, 2014

Eurozone: Number of Banks Declining Fastly

The decline in the number of euro area monetary financial institutions (MFI) continued in 2013, according to ECB’s (European Central Bank) reports.

January 22, 2014

Prices for Houses in EU Dropped Slightly

1.5 percent decrease of house prices in European Union.

January 22, 2014

Slovenia Attracting FDI from US and UK

The Slovenian Ministry of Finance is taking great efforts to attract investors from the US and the UK.

January 17, 2014

Hypo Group: Other Downsizing Unit than Bad Bank?

Rumors about other models than a bad bank have appeared.

January 15, 2014

Nowotny Sees Growth Potential in Eurozone and CEE

According to Ewald Nowotny, governor of the Austrian National Bank (OeNB), the outlooks for economic upturn in the Eurozone and Central/Eastern Europe have improved significantly compared to only a year ago.

January 14, 2014

Bank Austria Generates Fresh Capital

On Monday, January 13, UniCredit Bank Austria issued its first mortgage bond for 2014 to strengthen its capital base.

January 14, 2014

Meinl Bank: Plans of Growth in Czech Republic and UK

Meinl Bank has opened a new subsidiary in Prague. Growth plans for the core business in Central and Eastern Europe is well on its way, according to the bank’s officials.

January 7, 2014

European Union: Private Trading of Banks to be Restricted

The European Union intends to severly restrict risky private trading of banks.

January 7, 2014

Austria: Hard Times for Regional Banks

Not only large banks are under pressure. In 2014, Austrian regional banks expect enormous challenges to deal with.

December 31, 2013

Austria: Options of Bad Bank for Hypo under Examination

Finance Minister Spindelegger intends to meet with experts to discuss options of a bad bank for Hypo Group Alpe Adria.

December 20, 2013

Hypo Group: Take-Over Almost Completed

British-Indian Anadi Financial Holding had to wait for months until the take-over of Austrian Hypo Group Alpe Adria was approved.

December 18, 2013

Hypo Group Alpe Adria: Liebscher Against Haircut

Klaus Liebscher, chairman of Hypo Group’s supervisory board, is strictly against a debt cut at the nationalized bank. He expects a decision about a bad bank only in the first quarter next year.

December 10, 2013

Sevelda: „We Are Close to the Breaking Point“

In a guest comment published by the Austrian business magazine Format, CEO of Raiffeisen Bank International Karl Sevelda refers to the high burden for Austrian banks.

November 29, 2013

ECB Considers Restricting Credits

The ECB takes the option of restricting banking to industrial enterprises only into consideration.

November 27, 2013

Hypo Group: Investors Claim Refunds

A group of aggrieved investors in Hypo Group Alpe Adria files claims for damages. These so-called small investors provided amounts from € 30,000 to € 300,000 and feel disadvantaged compared to bigger investors.

November 20, 2013

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