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Russia

IIASA Builds Bridge through Science with Israel

The Laxenburg based international research organization IIASA (International Institute for Applied Systems Analysis) has recently announced that Israel has become its newest member country. Israel joins 24 other countries whose National Member Organization’s representatives constitute the IIASA Governing Council. Israel has established the Israel Committee for IIASA - made up of representatives from Israeli universities, government ministries, and the public - to represent the Israeli membership of IIASA.

January 29, 2018

Strabag building turnkey luxury apartments in Moscow

The European construction group STRABAG has been hired by AO Don-Stroy Invest - one of Moscow's leading real estate developers for luxury apartments - to build the project "Living on Plushikha". Until completion in mid-2019, STRABAG will build 202 turnkey residential units distributed over eight individual buildings.

March 30, 2017

OMV Aktiengesellschaft / OMV reached a binding "Basic Agreement"with Gazprom on the potential asset swap

OMV reached a binding "Basic Agreement" with Gazprom for a potential asset swap transaction. The execution of the Basic Agreement was approved in today's meeting of the OMV Supervisory Board but is still subject to signing of the Basic Agreement by the parties. The signing is expected to take place during the course of today.

December 14, 2016

Oil Price Hardly Matters for Russian Country Risk

The oil price decline has created headwinds for the Russian economy. However, the risk of doing business in Russia as determined not only by economic but also by political and structural factors has not changed substantially and there is therefore no evidence that the oil price decline had a significant impact on Russian country risk.

November 2, 2016

Symposium in Vienna: "Current Security Challenges for Europe: NATO, its Partners and the Warsaw Summit"

The upcoming summit of the North Atlantic Treaty Organization (NATO) in Warsaw from 8th to 9th July 2016 sees the organization facing numerous challenges. The withdrawal of combat troops from Afghanistan and rising tensions in the European area – from the conflict in Ukraine to the migration crisis, effected the question of the role of NATO’s Partnership for Peace under the new circumstances. A conference in Vienna with the working title "Current Security Challenges for Europe: NATO, its Partners and the Warsaw Summit" intends to discuss these and other pertinent issues.

June 16, 2016

Austria to Open Embassy in Tbilisi this Summer, Latvia to be Closed

Austria is soon to open an embassy in the Georgian capital Tbilisi, the Austrian Foreign Ministry informed journalists following a meeting between Kurz and his Georgian counterpart Mikheil Janelidze.

June 10, 2016

Ex-Magna Boss Buys Former Employer's Headquarters in Oberwaltersdorf

The Styrian Car Manager of Oleg Deripaska's Russian Machines Company and former Magna CEO Siegfried Wolf has bought the former Magna headquarters in Oberwaltersdorf.

March 2, 2016

RBI Not to Sell Zuno Bank to ABH Holdings

The sale of Raiffeisen Bank International’s (RBI) direct bank Zuno to the Alfa Banking Group will not be concluded because ABH Holdings withdrew from the contract of sale.

March 1, 2016

Exhibition: Chagall to Malevich - The Russian Avant-Gardes

The period from 1910 to 1920 was the heyday of the Russian avant-garde. Reason enough for the Albertina to dedicate an exhibition to Chagall, Malevich and Co.

February 15, 2016

State Visits from Azerbaijan and Turkmenistan in Context of Austria's OSCE Chairmanship in 2017

Michael Linhart met Deputy Prime Minister and Foreign Minister of Turkmenistan Rashid Meredov and Deputy Foreign Minister of Azerbaijan Araz Azimov in Vienna. “Azerbaijan and Turkmenistan are important partners for Austria in the context of its OSCE Chairmanship in 2017”

February 12, 2016

Central and Eastern Europe's Financial Elite Gathered at the CEE Forum in Vienna

The 21st Euromoney Central and Eastern European Forum ended in Vienna today, where 1000 delegates from the region joined local and international investors to help plan, debate and analyze the economic agenda for the region for the year ahead. The vast majority of the delegates have a negative outlook for the year 2016. Only one of the participants expects that this year CEE will grow more than 3.5%.

January 20, 2016

Austrian-Russian Friendship Society to Appoint Richard Schenz as New President

Dr. Richard Schenz has recently been appointed as new President of the Austrian-Russian Friendship Society (ORFG - Österreichisch-Russische Freundschaftsgesellschaft). He succeeds CEO Ludwig Scharinger who left office for health reasons. KR Sen.hc Richard Schenz is a Vice President of the Austrian Chamber of Commerce (WKO). He was formerly CEO of OMV and Capital Markets Advisor to the Austrian Minister of Finance.

December 22, 2015

Report: Drug Money and Opiate Trafficking on the Balkan Route

A report recently launched by the United Nations Office on Drugs and Crime (UNODC) shows that the total value of illicit heroin and opium trafficked from Afghanistan to Western Europe through the Balkans amounts to some $28 billion every year. Sixty-five per cent of this total ($18 billion) is generated in Western and Central Europe.

December 14, 2015

VTB Bank Austria has Passed the European Central Bank’s Stress Tests

To meet these requirements, VTB Bank (Austria) AG boosted the capital, raising its consolidated capital ratio from 9.3% as of the end of 2014 to 13.7% as of the end of September 2015.

November 16, 2015

Iranian Foreign Minister to Participate in Syria Conference in Vienna

Iranian Foreign Minister Mohammad Javad Zarif will attend the conference on Syria in Vienna on Friday. This has been confirmed today by the Foreign Ministry in Tehran, according to the official news agency ISNA. Iran will meet in Vienna not only to Russia and the USA, but also to its nemesis Saudi Arabia.

October 28, 2015

Joint Russia-US Fight against ISIS: Kerry and Lavrov to Hold Syria Talks in Vienna

US Secretary of State John Kerry will meet Russian Foreign Minister Sergei Lavrov on Friday in Vienna to discuss the Syrian conflict together with their counterparts from Saudi Arabia and Turkey. The meeting was made possible following the involvement of Vladimir Putin in serious diplomacy and the surprise visit by Syrian President Bashar al-Assad to Moscow on Tuesday.

October 23, 2015

RBI’s Russian Subsidiary Sells its Pension Fund Business

RBI’s Russian subsidiary (AO Raiffeisenbank) closed the sale of its pension fund business (ZAO NPF Raiffeisen) to the Russian BIN Group. The transaction will result in a one-off gain before tax of around EUR 87 million for RBI, which will be booked in the fourth quarter of 2015. It has been agreed that the parties will not disclose the price at which the transaction took place.

October 19, 2015

CEE in the Autumn of 2015 is the New Safe Haven

The key conclusion of UniCredit’s CEE Quarterly 4Q 2015 is that the CEE region, despite its heterogeneity, looks better positioned than most other large emerging markets to cope with potential challenges. In particular they found that market volatility spiked in 3Q15, with the uncertainty surrounding the anticipated Fed rate hike augmented by growing worries about a “hard landing” in China.

September 25, 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

Euromoney Names UniCredit-Bank Best Bank in CEE

Euromoney has presented UniCredit with nine awards for excellence, including Best Bank in Central Eastern Europe, Best Debt House in Central Eastern Europe and Best Transaction Services House in Central Eastern Europe.

July 14, 2015

Mostboeck: "ATX Valuations Remain Attractive - Catch-Up Potential until Year-End"

The majority of companies in the ATX had to report significant earnings revisions in 2014. In addition, geopolitical risks in the context of the Russia/Ukraine conflict exerted a negative effect. “The significantly improved environment and the digestion of last year's one-off effects are creating notable catch-up potential for the ATX”, notes Fritz Mostböck, Head of Group Research at Erste Group.

June 23, 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

Russia Demands Extradition of Oil Magnate Ural Rakhimov

Russia is demanding that Austria extradites oil magnate Ural Rachimov, a court spokesperson said on Tuesday confirming the report of the daily Die Presse.

May 20, 2015

EBRD Sees Mixed Outlook for CESEE Countries in 2015-16

The outlook for economies in central and south eastern Europe is improving on the back of eurozone monetary easing but prospects further to the east of the transition region have worsened, as the impact of Russia’s recession intensifies.

May 14, 2015

Summary Programme for the St. Petersburg International Economic Forum Released to Participants

The 19th St. Petersburg International Economic Forum will take place on June 18-20, 2015, bringing together heads of states and governments, political leaders, CEOs and senior executives of major Russian and international companies, leading experts, and representatives of Russian federal and regional authorities. The theme of this year's Forum will be 'Time to Act: Shared Paths to Stability and Growth'.

April 22, 2015

People in the News: UNODC Executive Director Yury Fedotov

Yuri Viktorovich Fedotov (born 1947) is a high level diplomat of the Russian Federation. Since 2010 he has served as the Executive Director of the United Nations Office on Drugs and Crime (UNODC) in Vienna with the rank of Under-Secretary-General, after having previously served as the Ambassador of Russia to the United Kingdom.

March 27, 2015

Austrian Doctor Treats Vladimir Putin in Moscow

Russian President Vladimir Putin, who has disappeared from the public eye since March 5th, is said to suffer from back problems, according to information from the "Kurier". He is now supposed to be treated by a Viennese orthopedic surgeon.

March 15, 2015

OSCE Special Monitoring Mission to Ukraine Deputy Chief Monitor Alexander Hug to Visit Vienna

The Deputy Chief Monitor of the OSCE Special Monitoring Mission (SMM) to Ukraine, Alexander Hug, will visit Vienna, Austria, on 5-6 March.

March 5, 2015

OSCE Chief Observer at the Russian Checkpoints to Visit Headquarter in Vienna

Paul Picard, Chief OSCE Observer at the Russian Checkpoints Gukovo and Donetsk will address the OSCE Permanent Council. He will report on the situation including movements across the Russian-Ukrainian border at the Russian checkpoints at Gukovo and Donetsk.

February 25, 2015

BWT Aktiengesellschaft / BWT signs framework agreement for the takeover of the majority in Mettem Technologies in Russia, strengthens itsmarket presence in the consumer business

The BWT Group has strengthened its presence in the point-of-use consumer business with a majority interest in the Mettem Technologies Group, Moscow, secured by the signing of a framework agreement.

January 23, 2015

George Soros: "A New Policy to Rescue Ukraine"

Soros is calling on members of the European Union to behave as countries indirectly at war with Russia and to provide Ukraine with $50 billion to defend itself and kick-start political reforms. Russian President Vladimir Putin's imperial ambition has unintentionally brought into being a new Ukraine that is adamantly opposed to endemic corruption and inefficient government. By offering assistance, Europe can foster an open society in Ukraine and protect itself from Russian aggression.

January 22, 2015

Gebrüder Weiss Opens Three Branches in Moscow

Logistics Company Gebrüder Weiss is consolidating its network, and with the Russian location, will be closing a geographical gap between its branches in Europe and Asia.

January 13, 2015

Serbian Foreign Minister Dačić to Visit Vienna

The new OSCE Chairperson-in-Office, Serbian Foreign Minister Dačić will visit Vienna on Thursday. He will outline the Serbian Chairmanship’s priorities to the OSCE Permanent Council*.

January 13, 2015

Secretary of State John Kerry at the OSCE Ministerial Plenary Session

"It is not our design or desire that we see a Russia isolated through its own actions. In fact, we are convinced that Moscow could rebuild trust and relationships if it simply helps to calm turbulent waters, if it takes steps now to implement the Minsk protocol."

December 5, 2014

Russian Investor Boris Mints to Launch Tender Offer for 10 Pct of CA Immo Shares

O1 Group Limited of Russian investor Boris Mints has made a voluntary partial public takeover offer of 10% of additional CA Immo shares. The offer comprises the purchase of up to 9,735,276 non-par value bearer shares of CA Immo (ISIN AT0000641352), which are admitted to the Official Market on the Vienna Stock Exchange.

November 28, 2014

OSCE Special Monitoring Mission to Ukraine Starts the Use of Austrian Drones

The OSCE (Organisation for Security and Cooperation in Europe) Special Monitoring Mission to Ukraine (SMM) today completed the maiden flight of its unarmed/unmanned aerial vehicles (UAVs) before members of the media near Mariupol in eastern Ukraine. The OSCE will use unmanned and unarmed drones for the monitoring of the border between Ukraine and Russia.

October 23, 2014

Business Indicator: Dip in Economic Activity Towards End of Year, but Hope Remains for 2015

Bank Austria has published its latest "Business Indicator" on the Austrian economy. The Bank's analysts believe that in light of the increasing uncertainty in recent months, the moderate recovery achieved by the European and therefore the Austrian economy too this year is taking a breather. The Russia/Ukraine crisis and the tensions in the Middle East have blighted sentiment in the Austrian economy at the start of autumn on a broad scale.

October 17, 2014

Business Indicator: Growing Geopolitical Uncertainty Levels the Economic Outlook Down

Bank Austria has published its latest "Business Indicator" on the Austrian economy. The analysts of Bank Austria believe, that after a weak first six months, the economic recovery continues to find it difficult to get out of the starting blocks. The growing uncertainty fuelled by the Russia-Ukraine crisis was reflected in another decline for Bank Austria’s Business Indicator in August. The indicator has been trending downwards slightly for half a year, and now sits at its lowest point since last summer of just 0.2 points.

September 18, 2014

Investment Opportunities: Moscow - Viennese Economic Talks in Vienna

Within the framework of the "Moscow Days in Vienna", an Economic Forum on economic, investment and technological cooperation "Moscow - Vienna 2014 Synergy - New Opportunities for Growth" was held in the Chamber of Commerce of Vienna.

September 11, 2014

Voestalpine to Supply Linepipe Plates for the Second South Stream Pipeline

This year sees the voestalpine Group securing its third major contract in the pipeline business. Following the first, now completed, contract for the Russian-European pipeline project South Stream, and for Rota 3, a pipeline project in Brazil, voestalpine will deliver 120,000 tons of sour-gas-resistant, high-strength linepipe plates for the second South Stream pipeline by spring 2015. The South Stream contract is not affected by sanctions. Further negotiations are also currently underway concerning extremely challenging pipeline projects.

September 5, 2014

Canada's Foreign Affairs Minister John Baird Visits Austria and The Balkans

Canada's Foreign Affairs Minister John Baird today announced that he will visit Croatia, Serbia and Albania. The visit to the Balkans comes after Baird spoke about Ukraine and other global security issues at a high-level forum in Salzburg, organized by the International Peace Institute and the Salzburg Global Seminar.

August 27, 2014

Russia Orders Agricultural Import Bans in Sanction Retaliation

Vladimir Putin signed a decree limiting or banning imports of agricultural products from countries which have imposed sanctions on Russia, the Kremlin's press service announced. It is estimated that following CEE/SEE countries will be hit by the retaliatory sanctions: Romania, Serbia, Hungary, Poland, Slovakia, Czech Republic, Slovenia, Bulgaria, Ukraine, Brussels, Croatia, Estonia, Latvia and Lithuania.

August 6, 2014

Analysis: Russia - Assessment of EU and Tightened US Sanctions

Special analysis covering the most recent escalation in terms of Western economic and financial sanctions against Russia: EU and US sending bold diplomatic signals without inflicting too much near-term economic and financial damage. In comparison to the US sanctions by the EU are capped in duration. Recent escalation adds to uncertainty in doing business with Russia, which is an ultimate goal of sanctions. Near-term impact of current sanctions still limited, which implies a risk that they may remain for longer.

July 31, 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

Poland: Strabag to Construct S7 Section “Trasa Nowohucka” in Kraków Worth € 130 Million

A consortium comprising Strabag Sp. z o.o. and Heilit+Woerner Sp. z o.o, two subsidiaries of Austrian listed company Strabag SE, has signed a contract for the construction of a stretch of the planned S7 expressway in the east of Kraków, called “Trasa Nowohucka”, which will run between Rybitwy and Igołomska.

July 24, 2014

Strabag to Build Steel Plant in Russia for € 300 Million

Publicly listed construction group Strabag SE has been contracted by Russia’s Tula-Steel Company to build a steel production and rolling mill in Tula, some 200 km south of Moscow. The industrial complex will be constructed in close vicinity to Tulachermet’s existing iron mill. The contract value is € 300 million. Construction of the project will begin in autumn 2014 and is expected to be completed within 36 months. Also today, BWB the Austrian antitrust authority has approved the acquisition of a total of 25% in Strabag by Oleg Deripaska, the Russian oligarch.

July 14, 2014

FDI in Austria up by EUR 25 Million

In the first half of 2014 the number of international companies setting up business operations in Austria with the assistance of ABA in cooperation with the regional investment promotion agencies climbed from 88 to 114. Total investment volume was up 15.9 % in the first half of 2014 to EUR 179.97 million from EUR 154.33 million in the prior year period.

July 11, 2014

Analysis: The South Stream Gas Pipeline

Due to the signing of the South Stream agreement between OMV and Gazprom for the Austrian part of the pipeline during Putin's visit to Vienna, we take a look at the background of the project.

June 25, 2014