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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
Austrian EU Commissioner Hahn Blames British PM Cameron for Opening Doors to Ukip
Hahn argues, that David Cameron is to blame for his own defeat at the hands of the eurosceptic UKIP at the European elections.
May 31, 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
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
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