Business, finance, investment and politics in the emerging market of the Czech Republic from an Austrian, Central, Eastern European perspective
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Austria and the Czech Republic Gross-Border Relations

Julius Meinl Acquires Grand Hotel Europa in Prague

The famous hotel in Prague "Grand Hotel Europa” has been taken over by Julius Meinl. The Czech businessman Vaclav Skala has sold the currently closed hotel to a company of the Meinl group, as the Czech economic newspaper "Hospodarske noviny” reported. The purchase price hasn't been revealed.

May 11, 2016

Strabag - Order Volume Down by EUR 1 Billion

Strabag’s profit in 2015 was based on a strong construction output in Slovakia, Poland, Czech Republic and Hungary. CFO Christian Harder summed the past year up as having been very good in eastern Europe, with only Russia being somewhat troublesome. The prospects are clouded slightly by a reduced backlog (down 9 percent or EUR 1.3 billion (USD 1.5 billion) to EUR 13 billion).

April 29, 2016

Long-Distance Coach Operator Flixbus to Compete with ÖBB Austrian Railways

Austrian state-run rail company ÖBB Austrian Railways is facing increasing competition of German mobility provider Flixbus which has just launched its third connection for Austria's regional capital cities, between Graz and Salzburg. In January 2016 FlixBus announced its entry to the markets of Central and Eastern Europe with the new branch FlixBus CEE. This includes six countries (Czech Republic, Slovakia, Hungary, Poland, Slovenia and Croatia) with new lines in the making. () am

April 27, 2016

RBI Subsidiary Zuno Reduced Loss by 30 Percent to EUR 5.6 Million

Zuno Bank direct banking subsidiary of Raiffeisen Bank International (RBI) in the Czech Republic reduced loss by 30 percent to EUR 5.6 million. In March it turned out that the sale of Zuno to Alfa bank group announced in September last year won't take place.

April 27, 2016

D.A.S. Legal Costs Insurer to Steer CEE Expansion from Vienna

European leader in legal costs insurance D.A.S. plans to expand in the CEE and will manage this expansion from Vienna, the company said in a statement. The Vienna office is already parent of the Slovak and Czech arms of the concern. Further mergers with CEE units are planned in the coming years. The changes will involve altering the organisational structure of the group.

April 25, 2016

Voestalpine Steel Wins another Pipe Deal for Nord Stream II Project

Listed steel and technology group Voestalpine secured another order for the Russia-Europe gas pipeline project Nord Stream II, the company said on its website.

April 19, 2016

Casinos Austria Saw Profit Hike, but Revenue Slump in 2015

Partially state-owned Casinos Austria gambling group, whose partial takeover by rival Novomatic and a Czech consortium is underway, posted a record operating profit, even though revenue slipped y/y.

April 1, 2016

Nord Stream 2 Gas Pipeline Requires New Infrastructure in Germany, Czech Republic

The construction of the Nord Stream 2 gas pipeline to reach the connection Baumgarten in Lower Austria requires new pipelines in the east of Germany and the Czech Republic, the daily Presse reports.

March 31, 2016

Novomatic Wants to Run Lottery in Italy with Co-Owner of Casinos Austria

The Lower-Austrian gambling group Novomatic has participated together with a subsidiary of Czech gambling companies Sazka and Emma Capital in a tender for the Italian lottery concession. Novomatic and Sazka/Emma Capital were rivals in the race for Casinos Austria, however, they have recently formed a partnership.

March 18, 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