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Austria and Russia Business and Diplomatic Relations

Moody’s - Situation of Austrian Banks Improves

US rating agency Moody’s has upgraded its outlook for the creditworthiness of Austrian banks in the coming 12 to 18 months for the first time since 2009 from "negative” to "stable”. The reason for this is lower exposure to risky countries of Central and Eastern Europe, as well as stronger-than-expected capital cushion.

August 23, 2016

Immofinanz Could Get Rid of Russian Business Already this Year

The head of Immofinanz Oliver Schumy doesn’t rule out that the group could get rid of the problematic Russian portfolio already this year in form of a sales contract. Getting rid of the troublesome assets is an important precondition for the planned merger with CA Immo. In 2015/16 in Russia alone Immofinanz had to write off about EUR 470 million in property value.

July 29, 2016

Immofinanz Earnings Pulled Down by Russian Arm Performance

Austria’s listed property developer Immofinanz saw its profits plummet in FY 2015/16, mostly on account of one-off effects and the performance in Russia. The consolidated loss soared to EUR 390 million, from EUR 377 million in the previous year, the company announced.

July 28, 2016

20 Years Comprehensive Nuclear-Test-Ban Treaty (CTBT): Ministerial Meeting at VIC

Marking the 20th anniversary of the signing of the Comprehensive Nuclear-Test-Ban Treaty (CTBT), a Ministerial Meeting was held at Vienna International Center. Hosting some 40 international organizations, Austria is a hub for the promotion of peace, safety and security, sustainable development and the fight against crime, drug abuse and terrorism.

June 20, 2016

Symposium in Vienna: "Current Security Challenges for Europe: NATO, its Partners and the Warsaw Summit"

The upcoming summit of the North Atlantic Treaty Organization (NATO) in Warsaw from 8th to 9th July 2016 sees the organization facing numerous challenges. The withdrawal of combat troops from Afghanistan and rising tensions in the European area – from the conflict in Ukraine to the migration crisis, effected the question of the role of NATO’s Partnership for Peace under the new circumstances. A conference in Vienna with the working title "Current Security Challenges for Europe: NATO, its Partners and the Warsaw Summit" intends to discuss these and other pertinent issues.

June 16, 2016

Ex-Magna Boss Buys Former Employer's Headquarters in Oberwaltersdorf

The Styrian Car Manager of Oleg Deripaska's Russian Machines Company and former Magna CEO Siegfried Wolf has bought the former Magna headquarters in Oberwaltersdorf.

March 2, 2016

RBI Not to Sell Zuno Bank to ABH Holdings

The sale of Raiffeisen Bank International’s (RBI) direct bank Zuno to the Alfa Banking Group will not be concluded because ABH Holdings withdrew from the contract of sale.

March 1, 2016

Exhibition: Chagall to Malevich - The Russian Avant-Gardes

The period from 1910 to 1920 was the heyday of the Russian avant-garde. Reason enough for the Albertina to dedicate an exhibition to Chagall, Malevich and Co.

February 15, 2016

Austrian-Russian Friendship Society to Appoint Richard Schenz as New President

Dr. Richard Schenz has recently been appointed as new President of the Austrian-Russian Friendship Society (ORFG - Österreichisch-Russische Freundschaftsgesellschaft). He succeeds CEO Ludwig Scharinger who left office for health reasons. KR Sen.hc Richard Schenz is a Vice President of the Austrian Chamber of Commerce (WKO). He was formerly CEO of OMV and Capital Markets Advisor to the Austrian Minister of Finance.

December 22, 2015

Austrian Ministry of Foreign Affairs: Council of Ministers Places 27 New Diplomats at Head of Embassies

The Council of Ministers of the Austrian Ministry of Foreign Affairs has decided to place 27 new Austrian diplomats at head of Austrian Embassies worldwide.

December 10, 2015