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Austria and Hungary Business and Diplomatic Relations

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

Erste Group Bank's Hungarian Unit Buys 2.3 Pct in Budapest Bourse

Listed bank Erste Group's Hungarian unit is buying a 2.3 percent stake in the Budapest Stock Exchange off Dutch concern ING, Erste Bank Hungary said in a statement.

May 31, 2016

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