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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

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

Bwin: Transaction In Own Shares

Transaction in 611,342 own shares.

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
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