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Austria and Poland Business and Diplomatic Relations

Austria Opens New Honorary Consulate in Wrocław/Breslau

The population of Wrocław is 633,802, making it the fourth largest city in Poland. Grzegorz Schetyna, the Polish Minister of Foreign Affairs opened the new Austrian honorary consulate in Wrocław (Breslau) together with Thomas M. Buchsbaum, the Austrian ambassador in Poland.

August 31, 2015

Strabag Wins Road Deal in Poland for € 118 Million

Listed builder Strabag won a EUR 118 million (USD 135.4 million) contract in Poland for the construction of a 15 km motorway section between Woźniki and Pyrzowice plus one motorway maintenance facility, two rest stops, 29 bridges and wildlife crossings. Completion is supposed to take place in mid-2018.

August 27, 2015

Austria Lost Top Place in Sustainability Ranking of WKO

Austria has fallen from the first place in the sustainability ranking of EU member states, prepared by Austria’s economic chamber (Wirtschaftskammer Österreich, WKÖ). Sweden is the new ranking leader, followed closely by Denmark. However, Austria remains among the top 5 countries.

August 20, 2015

Raiffeisen to Sell Polbank Only Without CHF Loans

Raiffeisen Bank International (RBI) faces some delays with regard to its plan of selling off subsidiaries in eastern Europe, though the bank assures it will meet the target and downsize by the end of 2017. One of the obstacles it faces are CHF mortgage loans of Polish arm Polbank (EUR 3.2 billion /USD 3.5 bilion).

August 20, 2015

RBI Bank May Take Over CHF Loan Risks from Polish Unit

Listed bank RBI is facing delays in the planned sales of assets, CEO Karl Sevelda admitted. But these delays will not affect the schedule of restructuring with the final date still seen at end-2017, he stressed. Still, RBI may have to spin-off the CHF loans risks of its Polish unit Polbank and book it itself.

August 19, 2015

Porr Poland Eyes EUR 240 Mln Revenue in 2-3 Years

Porr Polska Infrastructure, a unit of the Austrian group Porr which has taken over Bilfinger Polish assets, eyes exceeding the EUR 239m (PLN 1bn) mark in revenues in the next 2-3 years, CFO Jakub Chojnacki said as reported by the portal ISB news.

August 17, 2015

Poland's Richest Billionaire Jan Kulczyk Died in Vienna

The richest Pole, businessman Jan Kulczyk, died in Vienna aged 65, as a result of complications after surgery. Kulczyk had undergone heart surgery in Vienna and was to be released soon, daily Gazeta Wyborcza reports. However, the surgery led to complications.

July 30, 2015

RBI Holds Sale of Polish Unit Polbank

Listed bank RBI has reportedly put the sale of its Polish unit Polbank on hold, insiders told the news agency Reuters. "Negotiations have been stopped,” the sources said. The suspension is linked to CHF mortgage portfolio of Polbank which makes the sale a complex issue, insiders said.

July 22, 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

Offers for RBI's Polbank Underwhelming

The Polish arm of Raiffeisen Bank International (RBI) has attracted only two bids so far. However, the bids are smaller than the listed Austrian bank had expected, financial agency Bloomberg report, citing Bloomberg sources.

June 17, 2015