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Austria and Ukraine 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

Sberbank of Russia to Sell Slovenian Branch

The Russian-owned Sberbank has decided to sell its branch in Slovenia, reportedly after assessing the market as too small and not offering enough growth opportunities. According to the daily Dnevnik's unofficial information, US fund Apollo and Russian Expobank are interested in buying the branch.

September 11, 2015

Uniqa Ukraine Gets New CEO

The top management of the Ukrainian arm of Uniqa has undergone a change, as the CEO/COO/CFO post of the subsidiary has been assumed by Olena (Elena) Ulyee (39). She replaces Yuriy Yefimov who will become a supervisory board member instead. She has been CFO of Uniqa Insurance since 2007.

August 21, 2015

EBRD Buys 25% Stake in Raiffeisen Bank Aval

Raiffeisen Bank International (RBI ) reports that it has entered the final stage of negotiations with EBRD regarding the latter acquiring a stake in Raiffeisen’s Ukrainian subsidiary Bank Aval. The stake will be a substantial minority shareholding, RBI’s management board announced. The closing of the deal is slated for next week.

August 19, 2015

Bank Austria Shouldered More Costs for Ukrainian Ukrsotsbank in H1

Bank Austria is negotiating the sale of its Ukrainian subsidiary Ukrsotsbank with Russia’s Alfa Bank. UniCredit Group (parent company of Bank Austria) and ABH Holding of Alfa Group have started exclusive negotiations, it was announced on Friday evening. UniCredit Group is supposed to secure a minority stake in ABH in return. The talks are scheduled to take three months.

August 10, 2015

Ukrainian Bank Ukrsotsbank Weighs Heavy on Bank Austria's Balance

The crisis in Ukraine has strained Bank Austria results in H1. The Ukrainian subsidiary Ukrsotsbank cost the bank consolidated result EUR 202 million (USD 219 million). However, at the same time the Russian subsidiary managed to yield substantial profits in spite of Russian sanctions and a weaker market and generally shrinking business.

August 6, 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

Moody’s: Ukraine’s Three Biggest Banks in Default

US rating agency Moody’s described the situation of Ukrainian banks as ‘extremely difficult’. The three biggest lenders Privatbank, Savings Bank of Ukraine and Ukreximbank were awarded the secondworst ‘Ca’ rating and the outlook is negative. Raiffeisen Bank Aval also affected.

July 10, 2015

EBRD in Advanced Talks on Engagement in RBI's Ukrainian Subsidiary

The EBRD is at the advance stage of talks on the engagement in listed bank RBI's Ukrainian unit Aval, the EBRD said Monday.

July 6, 2015