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Austrian Market Headlines and Analysis

Grexit: Maximum Loss for Austria EUR 9.3 Billion, According to FAZ

The maximum loss in case of Greece's default amounts to EUR 317 billion - this is the total value of the Greek state's debts. According to "Frankfurter Allgemeine Zeitung", which relied on data from UBS, Ifo and Eurostat, Germany would have to bear most of the burden, i.e. EUR 87.6 billion. According to the newspaper, Austria could lose up to EUR 9.3 billion (USD 10.328 billion).

Yesterday

ABA Invest: Foreign Direct Investments into Austria Increasing

In the first half of 2015, international entities established a record number of new businesses in Austria. The number of new investment projects in the first six months of this year increased from 114 to 152, according to ABA Invest.

Yesterday

Telekom Austria Fined in Bulgaria

The Bulgarian antitrust authorities KZK have imposed a fine equivalent to EUR 185,000 (USD 205,000) on M-tel, a subsidiary of Telekom Austria. The reason for this are offers from the year 2012. Mtel offered free devices for signing a mobile telephony subscription economic newspaper "Kapital” reported on Friday. From the point of view of the authorities, this was an unfair commercial practice.

Yesterday

Pierer Industrie AG to Issue EUR 27.7 Million Bond

Pierer Industrie AG, which is controlled by Pierer Konzerngesellschaft mbH of the industrialist Stefan Pierer and which is the main shareholder of the listed Cross Industries AG, will tap the bond market.

Yesterday

Porr Lands EUR 180 Million Order in Switzerland

The listed construction group Porr has secured an order for construction works in Switzerland worth EUR 180 million (USD 199 million). Porr Suisse will build an underground bicycle station for almost 1,800 bicycles, a staircase and two office buildings at the main railway station in Zurich.

July 2, 2015

Immofinanz Wants to Take Over Warsaw Office Complex in Full

Listed Immofinanz will take over Empark Mokotów Business Park in Warsaw in full. Currently Immofinanz owns 50 percent of the office complex, the other half is held by a joint-venture partner, a subsidiary of property company Heitman.

July 2, 2015

Moody's Concludes Reassessment of Austrian Banks

BAWAG P.S.K., Raiffeisenlandesbank Tirol and Raiffeisenlandesbank Vorarlberg received the best ratings among biggest Austrian banks from US rating agency Moody's.

July 2, 2015

Voestalpine Builds EUR 25 Million Plant in Linz

Voestalpine will invest EUR 25 million in the second plant producing laser-welded boards in Linz. Thanks to this the sales of Europlatinen GmbH, a subsidiary of Metal Forming Division, should grow from EUR 100 million (USD 110.8 million) to EUR 140 million in the next three years. The number of employees is supposed to grow from 200 to 270.

July 2, 2015

Andritz Engineering Moves Turbine Production to Germany from Switzerland

Andritz Hydro AG, a unit of listed engineering concern Andritz, will relocated water turbines production from Switzerland's Lucerne to Ravensburg in southern Germany, Andritz Hydro's comanager Heinz Duner said confirming a report in Neue Luzerner Zeitung.

July 2, 2015

ÖVAG: VB Leasing International Sells Slovak Susidiary

Banking group Volksbanken AG (ÖVAG), on its way to be de-merged, will sell VB Leasing International, Slovak joint venture of ÖVAG and VB Leasing, to CSOB Leasing following lengthy negotiations with interested partners, ÖVAG said without providing the price.

July 2, 2015