Finance, page 10

• People who defrauded Erste's BCR face trial
  Romanian anti-corruption prosecutors have sent to trial 175 defendants accused of having defrauded Austrian Erste Group's subsidiary Banca Comerciala Romana (BCR) of three million Euros by obtaining credit using fake documents.
• Soaring fuel prices avoid more drastic inflation decrease
  Inflation in Austria dropped slightly last month, federal statistics agency Statistik Austria said today (Tues).
• Erste Bank Austria chief to retire early
  Erste Bank in Austria announced today (Tues) that its General Director Elisabeth Bleyleben-Koren would retire on 30 June 2010 even though her contract expires in mid-2012.
• Atrium reduces its losses
  Atrium European Real Estate reported today that it had reduced its losses by 50 per cent year on year to 449 million Euros in 2009.

• OeNB governor sees 2010 as third year of crisis
  Austrian National Bank (OeNB) Governor Ewald Nowotny said yesterday (Sun) that 2010 would be "a third year of economic crisis" rather than the first year of economic recovery.
• OeNB chief sees major banking changes within three years
  Austrian National Bank (OeNB) Governor Ewald Nowotny said yesterday (Tues) that there would be major changes in the Austrian banking system within three years.
• Pröll warns of 'savings books tax'
  People’s Party (ÖVP) Vice Chancellor and Finance Minister Josef Pröll said today (Mon) a possible new "bank tax" must not become a "savings books tax".
• Government agrees on 'bank tax'
  Social Democratic (SPÖ) Chancellor Werner Faymann said today (Mon) he has had success with his calls for a "bank solidarity tax".

• Austrian insurance firms invest little in Greece
  Austrian insurance firms have invested relatively little in Greek government bonds, the media reported today (Thurs).
• Savings accounts most popular place to stash money last year
  Savings accounts were the investment vehicle of choice for Austrians last year, new research has shown.
• German GLS Bank to open Vienna office
  German GLS Bank announced yesterday (Mon) it will open an office in Vienna this year.
• Savings accounts pay practically no interest
  Austrian savings accounts are paying practically no interest, according to the Labour Chamber (AK).

• Volksbank partner search advisor announced
  Lazard investment bank is to advise Austrian Volksbank AG (ÖVAG) in its search for a strategic partner, it was announced today (Tues).
• Allianz says EE to remain growth region
  Insurance giant Allianz has said Eastern Europe will remain a growth region despite the economic crisis continuing to be felt in many countries there.
• OeNB chief warns of financial bubbles
  Austrian National Bank (OeNB) Governor Ewald Nowotny has warned of a growing danger financial bubbles in developing countries.
• Nowotny admits Greece concerns
  Austrian National Bank (OeNB) Governor Ewald Nowotny has admitted concerns about Euro-zone member Greece’s public finances.

• ÖVP rejects chancellor´s bank tax
  The People’s Party (ÖVP) has refused to back a tax on banks proposed by Social Democratic (SPÖ) Chancellor Werner Faymann.
• No HGAA board changes, bank's new supervisory board head says
  Incoming Hypo Group Alpe Adria (HGAA) supervisory board head Johannes Ditz has said he has no plans to replace the bank’s current boss Franz Pinkl.
• RZB boss warns customers could pay for bank tax
  Raiffeisen Zentralbank (RZB) boss Walter Rothensteiner has dismissed calls for a tax on banks.
• OeNB governor says double-dip recession unlikely
  Austrian National Bank (OeNB) Governor Ewald Nowotny said yesterday (Mon) a double-dip recession in Europe was unlikely.

• 'HGAA investors list' emerges
  An Austrian magazine has released a list of what it claims are investors benefiting from two capital increases at Hypo Group Alpe-Adria (HGAA) in 2006 and 2007 before the bank was sold to Bavaria’s BayernLB.
• Investment funds recoup almost third of losses
  Austrian investment funds recouped 11 billion Euros of losses last year, it emerged today (Fri).
• State debt more than two thirds of GBP
  Austrian state debt has jumped to more than two thirds of gross domestic product (GDP), according to figures released today (Thurs).
• Austrian Mint to sell interest in Casinos Austria, report claims
  Austrian National Bank (OeNB) subsidiary the Austrian Mint (Münze Österreich) is to sell its 33.24 per cent interest in Casinos Austria, it was reported today (Weds).

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