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Austria and Romania Business and Diplomatic Relations

OMV Romanian Unit to Skip Dividend for 2015

Listed oil and gas group OMV's Romanian unit OMV Petrom will skip the dividend for 2015, the GM decided.

April 27, 2016

D.A.S. Legal Costs Insurer to Steer CEE Expansion from Vienna

European leader in legal costs insurance D.A.S. plans to expand in the CEE and will manage this expansion from Vienna, the company said in a statement. The Vienna office is already parent of the Slovak and Czech arms of the concern. Further mergers with CEE units are planned in the coming years. The changes will involve altering the organisational structure of the group.

April 25, 2016

Voestalpine Steel Wins another Pipe Deal for Nord Stream II Project

Listed steel and technology group Voestalpine secured another order for the Russia-Europe gas pipeline project Nord Stream II, the company said on its website.

April 19, 2016

OMV CEO Defends Plans for Russian Investments

Oil and gas group OMV’s head Rainer Seele defended the group’s plans for an asset swap with Russia’s Gazprom, and the subsequent involvement of OMV in Russia, in an interview for NZZ.at. The CEO was secretive about what assets might get exchanged in the deal. He attracted some attention with his statement that he did not find President Vladimir Putin a "crystal clear democrat”.

March 1, 2016

The Western Balkans Conference Which Led to Row Over Worsening Refugee Crisis

Convened on the initiative of Austrian Foreign Minister Sebastian Kurz and Austrian Minister of the Interior Johanna Mikl-Leitner, the Western Balkans conference “Managing Migration Together” was held at the Federal Ministry of the Interior in Vienna. 18 foreign and interior ministers from the Western Balkans attended the conference. The participants included the foreign and interior ministers of Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Kosovo, Macedonia, Montenegro, Serbia and Slovenia.

February 26, 2016

Erste Group Provides Blackstone with a 5-Year EUR 91 Million Facility

Erste Group provides Blackstone with a 5-year EUR 91 million facility to acquire 12 logistics assets. The 265000 sqm portfolio covers 12 standing logistics investments located in Hungary (5), Romania (4), Poland (2) and Slovakia (1), as well as land reserves.

February 22, 2016

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

Report: Drug Money and Opiate Trafficking on the Balkan Route

A report recently launched by the United Nations Office on Drugs and Crime (UNODC) shows that the total value of illicit heroin and opium trafficked from Afghanistan to Western Europe through the Balkans amounts to some $28 billion every year. Sixty-five per cent of this total ($18 billion) is generated in Western and Central Europe.

December 14, 2015