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Austria and Romania 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

Strabag Set to Enter Romanian Real Estate Market

Listed construction giant Strabag is entering the Romanian real estate market and to this aim took over Bucharest-based development team of Raiffeisen Evolution, the company said.

September 23, 2015

OMV Romanian Unit Petrom to Dual-List in London by End-2016

Listed oil and gas giant OMV plans to float its Romanian unit OMV Petrom on the London Stock Exchange, Agerpres agency writes citing the decision of yesterday's shareholder meeting. OMV Petrom is already listed in Bucharest.

September 23, 2015

OMV Participates in Upgrade of Nord Stream - Agreement Signed

OMV will participate in the multi-billion expansion of the gas pipeline Nord Stream through the Baltic Sea, the head of OMV Rainer Seele announced at Eastern Economic Forum in Vladivostok. The company has signed an agreement concerning the project. A letter of intent on the subject was signed already back in June.

September 4, 2015

Brussels Oks 222 Mln Euro Programme Aimed to Boost Cooperation Along Danube

The European Commission said, that it adopted the 2014-2020 Danube Transnational Cooperation Program, worth 222 million Euro ($247 million) in total, aimed at strengthening cooperation in the Danube region. Over 202 million euro will come from the European Regional Development Fund and 19.8 million euro from the Instrument for Pre-Accession, the Commission said in a statement.

August 24, 2015

Erste Group Presents Net Profit of EUR 487.2 Million in H1 15

Erste Group closed the first half of 2015 with positive results, reflected in strong improvements in profitability, asset quality, lending and capital. The group reported a net profit of EUR 487.2 million in H1 2015, compared to a negative result of EUR -929.7 million in the similar period last year; all countries except Hungary made a positive contribution to this development. Total assets increased to EUR 197.5 billion, compared to EUR 196.3 billion at the end of 2014. This balance sheet growth reflects a 2.2% advance in net lending to customers compared to the end of 2014, to EUR 123.5 billion, supported by the 1.7% growth in loans to households, 2.0% to SMEs and 5.9% to large corporates.

August 7, 2015

Erste Group Sets Up JV in CEE with Global Payments

Listed bank Erste Group plans to sell 51 percent of its payments business in the Czech Republic, Romania and Slovakia to US payments services firm Global Payments for EUR 29.94 million (USD 33.2 million) and then set up a joint venture with the US partner, Erste said.

July 28, 2015

CA Immo Buys Stake in CEE Portfolio off EBRD for EUR 60 Mln

Listed real estate group CA Immo will take over the outstanding 35-percent stake in the CEE portfolio from partner EBRD for EUR 60 million (USD 66.2 million) gross, a reduction versus net asset value of the portfolio, the company said.

July 10, 2015

Fourteen CEE Countries Sign MoU on Integrated Gas Market

Austria and thirteen other European Union and Energy Community countries in Central Eastern Europe and South East European regions signed a memorandum of understanding in Dubrovnik on joint efforts to build up gas infrastructure links and resolve technical and regulatory issues in order to create an integrated energy market in the region.

July 10, 2015