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Austria and Poland Business and Diplomatic Relations

FDI: Overseas Companies Fund Every Fifth Job in Austria

The ties between Austrian firms and foreign countries are tightening. 10,160 companies in Austria were in the hands of foreign concerns in 2013, i.e. 41 percent. In terms of employees, foreign companies employ 48 percent of the Austrian workforce. This is due above all to the strong involvement of German firms in the retail market in Austria.

September 29, 2015

CEE in the Autumn of 2015 is the New Safe Haven

The key conclusion of UniCredit’s CEE Quarterly 4Q 2015 is that the CEE region, despite its heterogeneity, looks better positioned than most other large emerging markets to cope with potential challenges. In particular they found that market volatility spiked in 3Q15, with the uncertainty surrounding the anticipated Fed rate hike augmented by growing worries about a “hard landing” in China.

September 25, 2015

Polish Footwear Firm CCC Expands Further in Austria

Polish footwear retailer CCC signed further agreements for lease of stores in Austria, the Polish portal reports.

September 22, 2015

CA Immo Sells Office Project in Poland to UBM

Property company CA Immo is selling its 50-percent stake in office project in Poland to its joint-venture partner UBM. The project is Poleczki Business Park at the Warsaw Airport. The value of the transaction of the sale of 50-percent stake exceeds EUR 80 million (USD 91.6 million).

September 21, 2015

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