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USA

Petrom Discovered Deep Water Gas Offshore Romania

The Romanian subsidiary of the Austrian oil and gas group OMV announces a first major success of its exploration works in the Black Sea together with Exxon Mobil.

February 22, 2012

Moody's Takes Actions on Austrian Banks

The U.S. rating agency has a closer look on Austrian banks, which are related to the creditworthiness of public institutions.

February 22, 2012

All-Clear for Opel Site in Vienna

Although the German automobile producer faces serious troubles, the Viennese factory is not endangered to cut jobs.

February 21, 2012

Stepic Criticizes Rating Agencies Sharply

For Herbert Stepic, CEO of Raiffeisen Bank International (RBI), statements given by the U.S. rating agencies are “undifferentiated”.

February 20, 2012

Voestalpine Amends Expansion Plans

The Austrian steel producer intends to use its technologic leadership in the automotive component business for further expansion steps.

February 18, 2012

S Immo: PepsiCo Signs on As a Tenant in Bucharest

The Austrian real estate company gained another internationally renowned tenant for its Sun Offices building in Bucharest.

February 15, 2012

Major Order for voestalpine

The automotive division of the Austrian steel group received orders worth € 700m.

February 14, 2012

Moody's Put Austria on Warning

The Austrian “AAA” rating has been confirmed by the U.S. rating agency. However, credit-watch is put on “negative”.

February 14, 2012

SLR Group Plans Major Increase in Sales

The Austrian foundry company expects to realize sales of 60m in 2011/12. In the first half year, sales were up by 24%.

February 9, 2012

Merger of Glencore and Xstrata: voestalpine Not Concerned

The Austrian steel company does not feel affected by the merger between the two major commodity corporations Glencore and Xstrata.

February 8, 2012

Innovation Index: Austria Falls Behind

Austria again loses in competitiveness: among the EU member countries, Austria occupies the eighth rank.

February 7, 2012

Black Sea: Petrom and Exxon Mobil Found Gas

Romania’s first deepwater well indicates presence of hydrocarbons. The U.S. Exxon Mobil and Petrom, a Romanian subsidiary of Austrian OMV, are searching for natural gas.

February 4, 2012

Privatization of Kommunalkredit Starts

The sale of the nationalized bank will start in the second half of 2012. For 2011, losses could reach up to € 150m.

February 4, 2012

AMAG to Become New Owners?

About one third of Austrian aluminum producer´s shares are for sale. Raiffeisen and B&C are potential buyers.

February 4, 2012

Coca Cola Closes Viennese Site

For cost reasons, the U.S. soft drink producer shifts production from Vienna to Burgenland. 80 employees will be laid off.

February 2, 2012

BDI Receives Major Order from USA

Austrian BioEnergy obtained order for retrofitting a U.S.-based biodiesel plant.

February 2, 2012

Kommunalkredit Downgraded by Moody´s

The U.S. rating agency downgraded Kommunalkredit Austria to Baa3.

February 2, 2012

After Downgrade of Vienna: No Consequences Expected

The Viennese financial senator Renate Brauner does not fear negative impacts on Vienna´s finance. This week, the city was downgraded by S&P.

January 27, 2012

voestalpine Concluded Largest Single Contract to Date

The Automotive Division of the voestalpine Group has concluded its largest single contract to date, with a leading European car manufacturer. The order volume amounts to around € 700m.

January 27, 2012

S&P Downgrades Austrian Provinces

The U.S. rating agencies lowers ratings for Upper Austria, Vienna and Tyrol from “AAA” to “AA+”.

January 26, 2012

S&P Keeps Rating for Erste Group and RZB

After the downgrade of Austrian sovereign bonds two weeks ago, the U.S. rating agency remains its ratings for the two largest domestic banks.

January 25, 2012

Scharinger: „Rating Agencies Are Instruments of Torture“

The leaving CEO of RLB Upper Austria, Ludwig Scharinger, is convinced that Europe needs must make itself more competitive against the U.S. financial industry.

January 24, 2012

“Europe, quo vadis?”

Today, the 9th Vienna Congress com•sult takes place in Vienna. The central issue “Challenges of Leadership in Europe” is discussed, among others, by Lech Walesa, Hans-Dietrich Genscher and Avigdor Liberman.

January 24, 2012

New Records for Viennese Tourism

In 2011, the Austrian capital registered 11.4 million guest nights, which is a new record.

January 24, 2012

New Record in Agricultural Exports

In 2011, Austrian food exports exceeded € 9.0bn for the first time.

January 21, 2012

Moody´s Downgrades Telekom Austria

The U.S. rating agency lowered Telekom Austria´s rating from A3 to Baa1, which is due to the weak business development.

January 19, 2012

AT&S Launches Strategic Alliance with U.S. MFLEX

Multi-Fineline Electronix, Inc. and AT&S Austria Technologie & Systemtechnik Aktiengesellschaft, today announced a Strategic Alliance Agreement.

January 19, 2012

Signs for Economic Stabilization

The Austrian Central Bank (OeNB) sees signs that the economic downturn trend can be stopped. A small growth in 2012 could be possible.

January 17, 2012

Metro Cancels Kaufhof Sale

The Austrian real estate investor René Benko has to abandon the plan to take over the German retail chain Kaufhof.

January 17, 2012

Binder Creates New Technology Company

Binder+Co AG has started the 2012 financial year with the foundation of a new subsidiary in the shape of Bublon GmbH. Binder+Co Group now consists of a total of four companies.

January 16, 2012

New Management for Microsoft Austria

With Georg Obermeier, the Austrian subsidiary of the U.S. software group has a new executive.

January 14, 2012

Downgrade: Government Surprised and Criticized

For the Austrian government, the downgrade by the U.S. rating agency is „not comprehensible”. The domestic industry urgently claims structural reforms.

January 14, 2012

Austria to Lose its AAA

According to partially confirmed market rumors, S&P will downgrade France and Austria.

January 13, 2012

Bank Austria Lost Madoff Case

Bank Austria distributed Primeo Funds, issued by the U.S. former investment banker Bernard Madoff. The prospectus did not contain sufficient information, a Viennese court decided.

January 13, 2012

Lenzing Continues Supply to U.S. Army

U.S. President Obama signs permanent import approval allowing the Austrian Lenzing AG to supply flame-resistant fibers to the U.S. Army.

January 12, 2012

Fitch: Austria´s AAA-Rating Not Endangered

According to the U.S. rating agency, the financial stability in Austria is still excellent. The bond auction today went well.

January 10, 2012

Petrom and Exxon Explore in Black Sea

Petrom, the Romanian subsidiary of the Austrian oil and gas group OMV, closed a partnership with the U.S. oil group ExxonMobil.

January 9, 2012

Substantial Decrease in Stock Market Turnover

The Vienna Stock Exchange recorded a decline in stock market turnover by 18% in 2011. This is also due to new taxes.

January 2, 2012

New Record for Austrian Wine Exports

Although the quantity of wine exports is shrinking steadily, the export volume worth € 126m reached a new record.

December 28, 2011

Emco With Growth Plans

The new owner of the former A-Tec subsidiary, now can begin to realize its expansion plans.

December 27, 2011

Kaufhof-Deal Not Closed Before 2012

The two main competitors for the German retail chain are the Austrian real estate investor René Benko and the U.S. investor Nicolas Berggruen.

December 17, 2011

Difficult Search for Investors at Wall Street

Austrian companies try to find new investors in the U.S. The relatively small size of Vienna Stock Exchange and the euro-crisis make this difficult.

December 8, 2011

Rating Agencies Are Seen As Threat

The governor of the Austrian Central Bank, Ewald Nowotny, attacks S&P. For the head of the economic research institute IHS, Bernhard Felderer, the negative outlook must be seen as a warning signal.

December 7, 2011

Austrian Foreign Trade Deficit on the Rise

From January to September 2011: imports rose by 17%, exports increased by 14%. The deficit amounts to € 6.0bn.

December 7, 2011

Increasing Gap in Incomes

Although Austria´s Gini coefficient is relatively low, the gap between high and low incomes becomes larger.

December 6, 2011

Only Small Increase in Exports in 2012

After a substantial growth in 2011, OECD expects only a slight rise in Austrian exports.

December 6, 2011

UK Court Freezes Assets of Kohn

A British judge froze funds of 27m pounds (€ 31.4m) of the Austrian former investment banker Sonja Kohn, who is accused to have participated in Bernard Madoff´s frauds.

December 3, 2011

Benko Puts Pressure on Kaufhof

The Austrian real estate investor René Benko presents his growth program and wants to outbid his rival, the U.S. investor Berggruen.

November 28, 2011

Investigations Against Benko

The Austrian real estate investor Benko is suspected for money laundering. Benko denies and sees a link to the Kaufhof-deal.

November 26, 2011

Austrian & CEE Investor Conference 2011 in New York

15 companies from Austria and CEE will participate in the conference on 28 November.

November 25, 2011
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