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Austria and Turkey Business and Diplomatic Relations

OMV Lodges Complaint with World Bank Arbitration Court

Listed oil group OMV has lodged a complaint with the arbitration court of the World Bank, against Turkish PM Ahmet Davutoglu, economic magazine trend reported. The dispute pertains to damage the company incurred to the shutdown of the Nabucco gas pipeline project between Azerbaijan and Austria.

Yesterday

VIG - Still Profitable in Central Eastern Europe

Listed Vienna Insurance Group (VIG) made profits in all countries and in all segments in the first half of the year. More than a third (67 percent) of pretax profit came from the CEE region, VIG announced.

August 25, 2015

OMV Wants to Muck Out for Russian Expansion

Austria’s listed oil and gas group OMV wants to clear out before pulling in on new shores: the company wants to get rid of gas-fuelled power plant Samsun on the Turkish coast, which costs OMV millions in write-downs.

August 19, 2015

EVN Power Set to Expand Environmental Operations in SEE

Listed Austrian utility EVN plans to further expand its environmental activities in SEE and is competing in tenders in Croatia and Serbia, according to EVN representatives.

June 19, 2015

French Adeo Group Takes Over some Austrian BauMax Shops

The French retail group Adeo will acquire a part of the chain of Austrian bauMax shops by the middle of July "Format' magazine reported in its latest issue.

June 19, 2015

Greiner Packaging Takes Over Majority in Istanbul-Based Firms

Packaging manufacturer Greiner Packaging from Upper Austria has acquired majority stakes in two companies from Istanbul, it was announced. This turns the company into a leader among producers of plastic packaging for dairy products.

June 18, 2015

OMV Working on New Nabucco?

According to an article featured by Presse daily on Friday, indicators show that oil group OMV is currently toiling at a ‘new Nabucco’ project. Instead of gas from the Caspian Sea the pipeline in question would transport Russian gas via Turkey.

June 12, 2015

Hödlmayr Raises Sales to EUR 220 Million

Upper-Austrian vehicle logistics company Hödlmayr International AG with headquarters in Schwertberg generated sales of about EUR 220 million (USD 248 million) in 2014 (EUR 196 million in 2013). Development on international markets contributed most to this growth.

June 9, 2015

FDI: Western Europe Overtakes China and North America, Austria Improved Its Position

Ernst and Young's latest European attractiveness survey has been published. FDI into Europe hits a new record with US$305b attracted into the region in 2014, translating to a 36% year-on-year growth, despite global growth slowdown. UK, Germany and France remain the preferred destinations for foreign direct investment (FDI) within Europe, while Turkey enters the Top 10. Austria improved its position in the ranking by two notches, rising to position 22 of all 44 countries analyzed.

May 29, 2015

International Airlines to Raise Number of Flights to and from Vienna

Several international Airlines are going to increase the number of flights operated to and from Vienna in summer and autumn 2015. New destinations are offered by AUA, China Airlines, Korean Air, Qatar Airways, Turkish Airlines and British Airways.

May 29, 2015