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Austria and Hungary Business and Diplomatic Relations

Hauliers Warn Against Schengen Border Close Down

If controls were to be resumed at Austria’s borders fully, the transport sector would incur a loss of up to EUR 8.5 million per day. The transport industry is already struggling due to new challenges as a result of the refugee crisis: at the borders to Hungary and Bulgaria, lorries have to queue for up to seven hours, Alexander Klacska, head of the transport division of the Business Chamber of Austria, told APA. The delay is not included in prices under existing contracts.

January 27, 2016

Central and Eastern Europe's Financial Elite Gathered at the CEE Forum in Vienna

The 21st Euromoney Central and Eastern European Forum ended in Vienna today, where 1000 delegates from the region joined local and international investors to help plan, debate and analyze the economic agenda for the region for the year ahead. The vast majority of the delegates have a negative outlook for the year 2016. Only one of the participants expects that this year CEE will grow more than 3.5%.

January 20, 2016

Central and Eastern European Forum in Vienna next Week

The Central and Eastern European Forum - organized by Euromoney - is taking place in Vienna next week. 1,000 top level policymakers, issuers, and commentators from the region will join local and international investors to help plan, debate and analyze the economic agenda for the region for the year ahead.

January 13, 2016

Spar Hungary Posted Losses of Millions in 2013 and 2014

The Hungarian subsidiary of retail group Spar posted losses of millions of euros in 2013 and 2014, News daily reports. The Hungarian arm Spar Magyarország Kereskedelmi posted a balance sheet loss of EUR 37 million (USD 40 million) for 2013 and of EUR 58.5 million for 2014.

January 11, 2016

Wishing you Peace, Joy and Happiness in the New Year

Dear Reader, As the year comes to an end, I wanted to write and thank you for your support. It's the loyalty of readers like you that enables us to provide our service. This year saw us once again reporting on topics related to cross-border activities in business and diplomacy. Our mission remains to inform and to connect Austria's international professionals and expatriates to enable them to be more productive and successful. Whatever 2016 brings, my editorial team and I will continue to bring you the latest in Austrian-international news and insight. I wish you a peaceful and prosperous holiday season and - till next year. Warm regards, Dr. Peter J. Friedl, Editor, FriedlNews

December 23, 2015

FriedlNews wishes Merry Christmas and a Happy New Year from Vienna!

Warmest wishes for the season, and sincere thanks for your loyalty throughout the years! Our service will be closed untill January 11th, 2016. The FriedlNews Team

December 23, 2015

Spar Retailer Eyes Y/Y Increase in Hungarian Turnover in 2016

Austrian retail giant Spar expects turnover from its Hungarian operations to continue to rise in 2016 after the growth to HUF 490 billion (EUR 1.55 billion/USD 1.7 billion) planned for this year, spokesman Mark Maczelka told Hungarian news agency MTI. He did not give further details.

December 16, 2015

Austrian Ministry of Foreign Affairs: Council of Ministers Places 27 New Diplomats at Head of Embassies

The Council of Ministers of the Austrian Ministry of Foreign Affairs has decided to place 27 new Austrian diplomats at head of Austrian Embassies worldwide.

December 10, 2015

Hungarian Court Rejects Complaints Against FX Loan Conversion Law

Hungary's Constitutional Court rejected requests to declare legislation on the conversion of retail FX mortgages into forint unconstitutional, the court said on Wednesday.

December 2, 2015

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