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Austria and Hungary Business and Diplomatic Relations

Analysis: The Eurovision Song Contest 2015 in Vienna

The Eurovision Song Contest 2015 will be the 60th edition of the annual Eurovision Song Contest musical event. The contest - taking place in Vienna - follows Conchita Wurst's victory in the 2014 edition with her song "Rise Like a Phoenix". This is the second time that Austria hosts the contest after holding its 1967 edition also in Vienna. The contest will consist of two semi-finals, which will take place next week on 19 and 21 May, and the final, held on 23 May 2015.

May 16, 2015

EBRD Sees Mixed Outlook for CESEE Countries in 2015-16

The outlook for economies in central and south eastern Europe is improving on the back of eurozone monetary easing but prospects further to the east of the transition region have worsened, as the impact of Russia’s recession intensifies.

May 14, 2015

Erste Bank Hungary Q1 Loss Narrows

Erste Bank Hungary's first-quarter net loss narrowed to EUR 16.6m from EUR 53.7m in the same period a year earlier on a big improvement in impairment, a consolidated earnings report by Erste Group published shows.

May 8, 2015

Pappas Car Retailer Raised Net Revenues to EUR 966 Million

Salzburg-based Pappas car retailer raised net revenues from the three core markets (Austria, Hungary and Germany) to EUR 966 million from EUR 959 million a year earlier, while sales edged up by some 1 percent to 23,564 cars, Pappas said in a press statement on Wednesday.

April 30, 2015

Hungary Sets Aside EUR 50 Mln for Entry in Erste Bank's Unit

Hungary has earmarked some EUR 50.5 million (USD 53.3 million) for the planned acquisition of a stake in listed Austrian bank Erste Group's unit Erste Bank Hungary, Hungarian news agency MTI reported on Tuesday citing information from Hungary's fiscal council.

April 14, 2015

Hungarian Appeals Court Rejects Raiffeisen's Contract Defenses

The Budapest Municipal Court of Appeals upheld a first instance ruling rejecting contract defenses by Raiffeisen Bank International and its leasing unit.

March 19, 2015

Austrian Post Integrates Units in CEE

Austrian postal company Österreichische Post has started integrating its units in Central and Eastern Europe with the aim of creating an international package delivery network, Carsten Wallmann, the head of the company's logistics division said at a press conference in Budapest.

March 12, 2015

ITB: Austria Wants to Attract More Asian Tourists

The surge in the number of tourists from the CEE region is no longer as big as it used to be and Russian tourists have also stayed out last year. That is why the tourism industry is looking more and more towards the Far East.

March 4, 2015

Quality of Living Rankings: Vienna Tops the List Again

Vienna remaines at the top of the 2015 Quality of Living Rankings, boasting the best quality of living for expatriates. In the top 5 there are two other European cities, Zurich (place 2) and Munich (place 4). Also Auckland (3rd) and Vancouver (5th) are among the top five cities.

March 4, 2015

Global Peace Index: Austria is Third Most Peaceful Country

The latest Global Peace Index analyses the state of peace around the world. It identifies the most and least peaceful countries, trends in violence and conflict, and calculates the economic impact of violence. The top three most peaceful countries are Iceland, Denmark and Austria. Small and stable democracies make up the top ten most peaceful countries. New Zealand, Canada and Japan are the only non-European countries in the top ten.

March 4, 2015