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Austria and Hungary Business and Diplomatic Relations

Hungarian Central Bank Buys Austria's 68.8% Stake in Budapest Stock Exchange

Austrian shareholders CEESEG and OeKB sell their 68.8% stake in Budapest Stock Exchange to Hungarian Central Bank for €42m ($45m), the Hungarian central bank confirmed officially.

November 24, 2015

EU Launches Nuclear Power Plant Infringement Procedure Against Hungary

The European Commission said it launched an infringement procedure against Hungary for failing to comply with European Union public procurement rules in an upgrade of the Paks nuclear power plant. The Hungarian government will implement the upgrade of the Paks nuclear power plant, Prime Minister Viktor Orban said in a regular interview on public radio on Friday.

November 20, 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

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

Joint Russia-US Fight against ISIS: Kerry and Lavrov to Hold Syria Talks in Vienna

US Secretary of State John Kerry will meet Russian Foreign Minister Sergei Lavrov on Friday in Vienna to discuss the Syrian conflict together with their counterparts from Saudi Arabia and Turkey. The meeting was made possible following the involvement of Vladimir Putin in serious diplomacy and the surprise visit by Syrian President Bashar al-Assad to Moscow on Tuesday.

October 23, 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

Current State of Relations between NATO and Austria

NATO-Austria relations are conducted through the Partnership for Peace framework, which Austria joined in 1995. NATO and Austria actively cooperate in peace support operations, and have developed practical cooperation in a range of areas. NATO views Austria as an effective partner and contributor to international security, which shares key values such as the promotion of international security, democracy and human rights. Austria on the other hand selects areas of practical cooperation with NATO that match joint objectives.

October 16, 2015

Spar Retail Starts to Build New Hypermarket in Hungary

Austrian retail chain Spar has launched the construction of a new hypermarket in Erd/Hungary, Hungarian news agency MTI writes.

October 5, 2015