Austria and Hungary - Latest cross-border business, finance, investment, diplomatic and cultural activities
Page 1/80

Austria and Hungary Business and Diplomatic Relations

Wüstenrot Group Closed 2015 with a Profit

Wüstenrot group with headquarters in Salzburg closed the financial year 2015 with a substantially higher profit. Pretax profit increased by about 35 percent to EUR 45.2 million (USD 50.56 million).

May 27, 2016

ÖBB/MAV-Cargo - Contradiction Concerning Contract with Lobbyist

The embezzlement lawsuit regarding the purchase of Hungarian cargo railway operator MAV Cargo by ÖBB subsidiary Rail Cargo Austria (RCA) was continued in the province court in St. Pölten on Friday. The central issue was a deal with consultant Geuronet. Defendant Gustav Poschalko claims the commission was not rejected by the group, a claim his then management board peer Ferdinand Schmidt repudiates.

May 20, 2016

Hungarian Energy Group MOL Eyes Station Chain Acquisition in Austria

Hungarian oil and gas group MOL wants to resume filling station business in Austria, from which it withdrew last year, CEO Ferenc Horvath said as cited in the daily WirtschaftsBlatt.

May 17, 2016

Erste Group Set to Sign Hungarian Deal by Mid-June

Listed bank Erste Group wants to sign the deal on the planned acquisition of a stake in its Hungarian unit by the state of Hungary by June 14, CEO Andreas Treichl told a teleconference on Wednesday as reported by Reuters news agency.

May 4, 2016

EU Okays Extension of Border Control Reinstatement

The European Commission has allowed Austria, Germany, Denmark, Sweden and Norway to continue border controls within the Schengen zone for another six months. However, the recommendation issued on Wednesday stipulates explicitly that the border controls at the Brenner tunnel are not part of that deal.

May 4, 2016

Erste Group Surprises with EUR 274.7 Mln Net Profit in Q1

Blue-chip bank Erste Group posted EUR 274.8 million (USD 315.4 million) in Q1 net profit, up by 22 percent y/y and above market expectations for a slight annual decline, the company said in a report.

May 4, 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

Orban’s Government to Rethink Acquisition of Stake in Erste Bank Hungary

The Hungarian government is to reconsider plans of acquiring a stake in the Hungarian arm of Erste Bank. The Economy Minister Mihaly Varga told Hungarian daily Vilaggazdasag that it may turn out to be more useful, to lower state debts, rather than to buy a 15-percent stake in Erste Bank Hungary.

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