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Austria and Hungary Business and Diplomatic Relations

CA Immo - Part of Hungarian Portfolio Finds New Tenants

The listed property concern CA Immo in the first half of this year rented out about 15,000 square metres of office space in Budapest. Out of this 6,500 square metres were rented by new tenants, for about 8,000 square metres contracts were extended.

August 23, 2016

Erste Group Hungary Aims to Become Top Corporate Finance Advisor

The Hungarian arm of Erste Group Bank wants to become one of the top three banks in terms of corporate finance by 2020 in Hungary, it follows from a statement by head of corporate banking of Erste Bank Hungary (EBH), Richard Szabados.

July 25, 2016

CESEE Outlook: Modest Recovery - EU is Obstacle to Growth – BREXIT Poses Uncertainties

According to the latest prognosis of the Vienna Institute for International Economic Studies, the countries of Central, East and Southeast Europe (CESEE) will have a trend growth rate of up to 3% in the period of 2016-2018. This is 1-1½ percentage points higher than average growth in the eurozone. Consumption will be the main growth driver. The Austrian economy is still benefiting from its economic ties with the region. Direct effects of BREXIT on the region will be limited – indirect effects for the European economy as a whole may be considerable.

June 29, 2016

Zumtobel has Launched Regional Project Centre in Belgrade

Lamp maker Zumtobel has launched a new regional project centre in Belgrade. Director Milan Lazarevic said that the centre would be in charge of projects in Hungary, the Czech Republic, Slovakia, Croatia, Romania, Bulgaria and Belgium.

June 22, 2016

Hungary and EBRD Seal Investment in Erste Bank Hungary

Hungary and the European Bank for Reconstruction and Development (EBRD) will, just as planned, obtain a 15 percent stake each in the Hungarian subsidiary of Erste Group Bank. An agreement on the transaction was signed in Budapest. The estimated value of the total stake of 30 percent is HUF 77.78 billion (EUR 250 million), the three involved parties said.

June 21, 2016

20 Years Comprehensive Nuclear-Test-Ban Treaty (CTBT): Ministerial Meeting at VIC

Marking the 20th anniversary of the signing of the Comprehensive Nuclear-Test-Ban Treaty (CTBT), a Ministerial Meeting was held at Vienna International Center. Hosting some 40 international organizations, Austria is a hub for the promotion of peace, safety and security, sustainable development and the fight against crime, drug abuse and terrorism.

June 20, 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

Bank of China Vienna Not CEE Headquarter

The Bank of China inaugurated its branch office in Vienna. Contrary to previous announcements the Vienna office will not be the headquarter for the CEE region, but only a branch of the bank branch in Budapest.

March 7, 2016

The Western Balkans Conference Which Led to Row Over Worsening Refugee Crisis

Convened on the initiative of Austrian Foreign Minister Sebastian Kurz and Austrian Minister of the Interior Johanna Mikl-Leitner, the Western Balkans conference “Managing Migration Together” was held at the Federal Ministry of the Interior in Vienna. 18 foreign and interior ministers from the Western Balkans attended the conference. The participants included the foreign and interior ministers of Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Kosovo, Macedonia, Montenegro, Serbia and Slovenia.

February 26, 2016

Erste Group Provides Blackstone with a 5-Year EUR 91 Million Facility

Erste Group provides Blackstone with a 5-year EUR 91 million facility to acquire 12 logistics assets. The 265000 sqm portfolio covers 12 standing logistics investments located in Hungary (5), Romania (4), Poland (2) and Slovakia (1), as well as land reserves.

February 22, 2016