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USA

Poland to Cover Borrowing Needs Early

The biggest CESEE economy wants to raise cash before the U.S. FED begins to reduce its asset buying program. The CESEE region will absorb the monetary shock, though.

January 13, 2014

Europe/CESEE: Heavy Trade in Distressed Assets

Until 2018, European lenders will offload about 300bn of bad debts, according to PwC. Above all, U.S. private equity firms are taking the opportunity.

January 11, 2014

RBI Expects Growth to Accelerate in 2014

2014 marked by growth recovery, according to RBI Research.

January 9, 2014

Orco Property Group: Cut in Number of Board Members

Shareholders of Luxembourger real estate company Orco Property Group voted to cut the number of board members from nine to five on Monday.

January 8, 2014

Romania: Slight Increase in FX Reserves

In December 2013 FX reserves increased slightly compared to the previous month.

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

CEE: Economic Sentiment Cautiously Optimistic

The economic sentiment for Eastern European countries is becoming more optimistic, however, only cautiously. Poland is on top of the list of economists at JP Morgan.

January 2, 2014

UniCredit Sells Bad Assets to Cerberus

The majority shareholder of Austrian Bawag acquires a portfolio worth €950m.

December 27, 2013

Austria: Industrial Output Shrinks

In October the industrial production in Austria declined.

December 23, 2013

Wifo: Sluggish Growth Because of Weak Consumption

According to Wifo’s (Austrian Institute of Economic Research) prognosis for the coming years, economic upturn in Austria will remain flat because of weak consumption.

December 19, 2013

CESEE: More Robust than in 2008

The U.S. Federal Reserve wants to reduce its easing policy gradually. For emerging markets, the end of the loose monetary policy may prove challenging.

December 17, 2013

Poland: Budget Bill Approved by Lower House

On Friday, the Polish lower house Sejm approved next year’s budget bill which schedules the budget deficit of PLN 47.6bn not to be exceeded.

December 16, 2013

Serbia: World Bank Attaches Loan to New Laws

The World Bank has attached the loan in the amount of US-$ 250m (€ 183m) for Serbia to the implementation of three important laws within this year still.

December 10, 2013

ECB Considers Restricting Credits

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

November 27, 2013

Slovenia Issues New Eurobonds

The issuance of a new bond in the amount of € 1.5bn on Friday came as surprise as Prime Minister Alenka Bratusek has annouced earlier no such measures will be made until the beginning of the new year.

November 18, 2013

Romania: Fitch Rating for Three Banks Affirmed

Fitch has affirmed the ratings for three Romanian banks and forecasts a stable outlook.

November 14, 2013

Austria: Bawag to Pay Off Further State Capital

Today CEO Byron Haynes announced that Bawag will pay back a further tranche of the bank state aid injected in 2009.

November 13, 2013

Bawag Investor Cerberus to Leave?

Rumors have it that US fund Cerberus will sell his share in Austrian bank Bawag. According to head of Bawag, Byron Haynes, a selling process has not yet begun.

October 31, 2013 · Updated: November 5, 2013; 17:30

Banks Jeopardize Austrian Triple-A Rating

In case further aids will become imminent, Austria could lose its rating.

October 31, 2013

US Investors: Austrian Industrial Location Loses in Attractiveness

According to a study carried out by the American Chamber of Commerce (AmCham), the quality of the Austrian industrial location is seen ambiguous.

October 25, 2013

Bulgarian President Calls for TTIP

Bulgaria’s economy would benefit from a free trade agreement between EU and USA.

October 25, 2013

H.E. Ambassador Alexa Lange Wesner, U.S. Embassy Vienna, presented her credentials to the Federal President of Austria

Ambassador Alexa Lange Wesner presented her credentials to Dr. Heinz Fischer, the Federal President of Austria on 22nd October 2013 and took charge as U.S Ambassador to Austria.

October 23, 2013

Amazon to Open Distribution Centers in the Czech Republic

The world’s largest online retailer Amazon plans to create 10,000 jobs in the Czech Republic within the next three years.

October 22, 2013

Nowotny Demands Same Rules for All Banks

Govenor Nowotny urges for a discussion about the capital requirements (Basel III) for banks, which applies only for the major banking institutes in the US but for all banks in Europe.

October 18, 2013

Austria: Voestalpine Expects Same Results as 2012

CEO Wolfgang Eder expects the same level in profits as last year.

October 17, 2013

Bank Austria: Economic Recovering in Small Steps

The Bank Austria Business Indicator provides an overview of the current economic situation in Austria.

October 16, 2013

Moody’s: Poland Threatened by Outflow of Foreign Funds

Rating agency Moody’s evaluates the country being moderately exposed to the risk of foreign outflows.

October 14, 2013

Poland: Amazon to Establish Three Logistic Centers

Leading online retailer Amazon will open three major logistic centers in Poland. According to the company’s own proclamation, this step does not relate to the latest striking problems in Germany.

October 8, 2013

Moody’s Honors Austrian Banks in CESEE

Only a year ago, the rating agency downgraded Austria because of its banks’ engagement in Eastern Europe. However, the situation has changed to the better.

October 3, 2013

Austria: Kapsch Demands Reform Agenda From New Government

Georg Kapsch, President of the Federation of Austrian Industries (IV) demands the next federal government to introduce a comprehensive reform agenda.

September 27, 2013

Treichl: Requirements for Banks Increased Massively

According to the CEO of Erste Group, the requirements for banks have increased by three to six times. Moreover it has become harder for banks to finance small and medium sized enterprises (SME).

September 17, 2013

Austria: Bawag to Pay Back Further State Aid

Due to lower costs and provision profits of the Austrian bank Bawag increased. From the coming year on the bank intends to pay back further state aids and plans on further withdrawing from CESEE.

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

Ukraine Diversifies Sources of Reverse Gas Supply

Ukraine plans on soon opening two more routes through Romania and Slovakia.

August 22, 2013

Turkish National Bank to Increase Key Rate

In the fight against the downgrade of the Turkish Lira, the Central Bank of the Republic of Turkey (CBRT) has increased the key rate unexpectedly.

August 20, 2013

Ukraine Reduces Imports of Gas by 35 Percent

From January to June 2013, Ukraine was able to reduce gas import by more than 35 percent compared to the same period last year, according to Ukrainian Statistics Service.

August 16, 2013

Can We Eliminate Extreme Poverty By 2030?

Over the last 200 years the world as a whole has seen a marked decline in the incidence of absolute poverty.

August 14, 2013

US to Support Ukraine Gain Energy Independence

One of the key priorities of US Ambassador to Ukraine Geoffrey R. Pyatt is the support of Ukraine to gain greater independence in the energy sector.

August 14, 2013

Eurozone: GDP Grew Slightly

Euro area and EU27 GDP both up by 0.3% -0.7% and -0.2% respectively compared with the second quarter of 2012.

August 14, 2013

Romania: Significant Drop in Purchase Power

General consumption climate is unfavorable in Europe at the moment.

August 12, 2013

Wifo: Economic Growth with Brakes On

Economic upswing will take time. Considering the individual branches an uneven picture emerges.

August 9, 2013

Czech Republic: US Export-Import Bank Offers Loan for Temelin

The official export credit agency of the United States offers a loan under the condition that Westinghouse wins the tender.

July 30, 2013

Bulgaria: Signs of Economic Recovery

Bulgaria services sector marks the highest growth of FDI

July 26, 2013

Czech Republic: CEZ to Postpone Completion of Temelin

Czech energy company CEZ announced that the decision for the finalization of nuclear power plant Temelin will take at least a year longer than planned.

July 25, 2013

EU: Current Account with Russia Deep in the Red

EU27 current account surplus came at € 29.1 bn in the first quarter of 2013.

July 18, 2013

Austria: Most Risks Do not Come from Eurozone

The greatest risks threatening a continued economic recovery in Austria currently stem from the global economic trend and, to a lesser extent, from the Eurozone, Ban Austria reports.

July 17, 2013

Spanish and Polish Prime Minister Support EU-US Free Trade Agreement

On the occasion of a state visit in Madrid, Poland´s Prime Minister Donald Tusk declared that the free trade agreement between the U.S. and the EU would be a driver for economic growth. The EU must strengthen its energy strategy, Tusk said.

July 16, 2013

ExxonMobil Signs Agreement with Ukrainian Government

ExxonMobil regards 45bn cubic meters of gas production realistic.

July 15, 2013

Turkey: BIST Formed Partnership with US NASDAQ

Turkey's Borsa Istanbul (BIST), one of the most profitable stock markets in the emerging world, has formed a strategic partnership deal with the US-based NASDAQ OMX Group, the owner and operator of NASDAQ stock market.

July 12, 2013

Austrian Economy Dependent on Neighbor Countries

Austria’s economy is getting through the crisis better than the Eurozone. However, the country owes this partly to neighboring countries.

July 11, 2013