Business, finance, investment and politics in the emerging market of Croatia from an Austrian, Central, Eastern European perspective
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Austria and Croatia Business and Diplomatic Relations

Austrian State Added Billion Euro Guarantee to Heta’s Balkan Bank Sale

Equity fund Advent and EBRD, the buyers of Hypo Balkan bank units have received an assurance for the potential default of Heta-related payments. Heta will remain involved with the Balkan banks for a longer time, due to its EUR 2.2 billion (USD 2.48 billion) credit lines. In 2022 the liabilities will have to be paid back.

September 2, 2015

Brussels Oks 222 Mln Euro Programme Aimed to Boost Cooperation Along Danube

The European Commission said, that it adopted the 2014-2020 Danube Transnational Cooperation Program, worth 222 million Euro ($247 million) in total, aimed at strengthening cooperation in the Danube region. Over 202 million euro will come from the European Regional Development Fund and 19.8 million euro from the Instrument for Pre-Accession, the Commission said in a statement.

August 24, 2015

America Movil Wants to Double Revenue Share in Europe, Focus on CEE

Mexican telco America Movil, holding company of Telekom Austria, wants to double the share of the revenue generated in Europe over the next years. Owner of the holding, billionaire Carlos Slim, wants to focus in particular on eastern Europe. Telekom is in charge of eastern European business.

August 13, 2015

Erste Group Presents Net Profit of EUR 487.2 Million in H1 15

Erste Group closed the first half of 2015 with positive results, reflected in strong improvements in profitability, asset quality, lending and capital. The group reported a net profit of EUR 487.2 million in H1 2015, compared to a negative result of EUR -929.7 million in the similar period last year; all countries except Hungary made a positive contribution to this development. Total assets increased to EUR 197.5 billion, compared to EUR 196.3 billion at the end of 2014. This balance sheet growth reflects a 2.2% advance in net lending to customers compared to the end of 2014, to EUR 123.5 billion, supported by the 1.7% growth in loans to households, 2.0% to SMEs and 5.9% to large corporates.

August 7, 2015

Austrian State Concludes Sale of Hypo Balkan Assets to Advent and EBRD

The sale of ex-bank Hypo's Balkan assets by the Austrian state to fund Advent and the EBRD went through on Friday as all requirements were met on Friday.

July 17, 2015

VSE Sells Ljubljana Stock Exchange to Zagreb Stock Exchange

The Vienna Bourse has sold Ljubljana Stock Exchange to Zagreb Stock Exchange. Parent concern CEE Stock Exchange Group (CEESEG) and the Zagreb bourse signed today an agreement on the takeover of a 100percent stake in Ljubljana stock exchange. The purchase price hasn't been revealed.

July 16, 2015

Fourteen CEE Countries Sign MoU on Integrated Gas Market

Austria and thirteen other European Union and Energy Community countries in Central Eastern Europe and South East European regions signed a memorandum of understanding in Dubrovnik on joint efforts to build up gas infrastructure links and resolve technical and regulatory issues in order to create an integrated energy market in the region.

July 10, 2015

Austrian Railways Eyes Acquisitions Across Central and Eastern Europe

Oesterreichische Bundesbahnen (OeBB), the Austrian state railway operator, is eyeing rail cargo operator buys across Central and Eastern Europe, a source close to the company and a person claiming knowledge of the situation said. OeBB, with EUR 3bn in revenue, believes a number of opportunities will soon come up in countries “east of Austria”, including countries of the former Yugoslavia, the source said.

July 6, 2015

Heta Balkan Deal Pre-Closing a "Decisive” Step to Final Sale

The preclosing of the sale of Hypo bad bank Heta's Balkan assets, announced on Wednesday, is "a decisive step” on the way to the final sale, the Finance Ministry said in a comment.

July 1, 2015

Immigration: Austria Keeps Gates Closed for Croat Workers

Eight EU member states, Belgium, Cyprus, France, Germany, Greece, Italy, Luxembourg and Spain have opened their borders to workers from Croatia. Austria, Malta, the Netherlands, Slovenia, the UK keep their gates closed though, for another three years, the EC announced.

July 1, 2015