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

Czech Unipetrol Wants to Buy Petrol Stations of OMV and Shell

Czech Unipetrol, majority-owned by Polish oil group PKN Orlen, intends to buy up the petrol stations of Austria’s OMV and of Royal Dutch Shell in the Czech Republic, it follows from an interview Andrzej Kozłowski, head of strategies at PKN Orlen, to Czech newspaper Hospodarske Noviny.

November 24, 2015

Erste Asset Management Merges with Czech Arm

Erste Asset Management GmbH (EAM) and its Czech subsidiary Investicni Spolecnost Ceske Sporitelny (ISCS) have merged. ISCS (managing assets of EUR 7.9 billion (USD 8.4 billion), will maintain its office in Prague. EAM wants to expand its product offer on the Czech market.

November 19, 2015

Journalism Award “Writing for CEE 2015” Goes to Martin Leidenfrost

The EUR 5,000 "Writing for CEE" journalist prize has been awarded for the twelfth time. Journalists from all round Europe – including Northern Europe, Central and Eastern Europe, South Eastern Europe and the CIS countries – have been invited to submit their works. The Austrian Journalist Martin Leidenfrost wins the “Writing for CEE 2015” award for his column "Expedition Europe". At the award ceremony writer and honorary guest Karl-Markus Gauß touched on the discovery of Europe and SEEMO Secretary General Oliver Vujovic said, that Europe faces new boundaries and divisions.

November 18, 2015 · Updated: November 20, 2015; 19:00

CEE Region to Grow on Average 3 Percent

The research institute Vienna Institute for International Economic Studies (WIIW) has revised its forecast for CEE countries. WIIW economists expect the region, without the CIS and Ukraine, to grow on average 3 percent, i.e. about 1.5 percentage points above the Eurozone average.

November 13, 2015

Fitch: CEE Risk for Austrian Banks Shifts Towards East

US rating agency Fitch states in a report on Austria’s banks that the lenders are adequately, though not very well equipped for the challenges posed in the CEE region. Due to low yields, excess capacities and high fixed costs in the domestic market the flexibility of the banks to tackle CEE problems is limited.

November 4, 2015

Casinos Austria: Czech Investor Plans Legal Steps after Stake Goes to Novomatic

Czech billionaire Jiri Smejc, who was among the competitors for the stake in state-owned casinos operator Casinos Austria, believes himself to have been discriminated in the process by the Austrian Finance Ministry and is planning legal steps, he told Reuters.

November 3, 2015

Austria will Remain an Asylum Country with Tradition

Since 1945 more than two million refugees have come to Austria, whereby almost 700,000 have remained here - that is about 9 per cent of the total population of Austria. Every second refugee had a different mother tongue than German. The refugee crises occurred in a mysterious sequence, as every twelve years, large waves of refugees arrived in Austria: 1956, 1968, 1980 and 1992.

October 28, 2015

OMV Wants to Sell 70 Petrol Stations in Czech Republic

Citing undisclosed independent sources the newspaper Lidove noviny reports that OMV is currently negotiating the sale of 70 petrol stations to Unipetrol, Czech arm of the Polish oil company PKN Orlen.

October 26, 2015

Casinos Austria New Czech Owner to Focus on Lottery Business

The new Czech owner of listed gambling firm Casinos Austria, Austrian Gaming Holding of two Czech billionaires Karel Komarek and Jiri Smejc, plans to focus on the cash-cow part of the concern, lottery business, says Stepan Dlouhy, the spokesman of the consortium which just secured 11.35 percent in Casinos.

October 19, 2015

How Can Exporters Benefit from the "Go-International Initiative" of the Austrian Chamber of Commerce?

Even in a challenging global economic environment, exports remain the driving force behind the Austrian economy. The go-international initiative of the Austrian Chamber of Commerce encourages companies to step across the border by offering advisory services, events and support, as well as making it easier for existing exporters to enter additional foreign markets.

October 19, 2015