MP accuses Austrian government of Madoff cover up An Austrian MP has filed a series of Parliamentary questions to make public allegations that senior banking officials and others in the Alpine Republic had actively worked with Bernie Madoff to create his global Pyramid scheme.
Minister says weak Euro will promote exports
People’s Party (ÖVP) Economy Minister Reinhold Mitterlehner said today (Fri) that the depreciation of the Euro against the dollar in the wake of the Greek financial crisis was not totaly bad.
Britain refuses to trade with 500 Euro notes
Austrian travellers have been warned that the 500 Euro note is no longer available in Britain after evidence showed it was used mostly by criminals, British authorities have announced.
Oberbank to buy back 56,000 shares
Oberbank AG announced today (Tues) it would buy back 56,000 of its shares between 18 and 21 May after shareholders gave he go ahead at their annual meeting yesterday.
Pröll calls for better EU decision-making
People’s Party (ÖVP) Finance Minister Josef Pröll has called for better EU decision-making in the wake of last weekend’s last-minute agreement on a Euro-zone stability package.
VIG to sell interest in Porr to Turkish group
The Vienna Insurance Group (VIG or Wiener Städtische) has agreed to sell an interest in Austrian construction firm Porr to the Turkish Renaissance Group, according to Der Standard.
Vienna looks to China
Vienna is looking to China as a future market for city exports in view of its status as one of the most-promising future markets in the world.
InterSky begins service to Dusseldorf
Vorarlberg airline InterSky has acquired a fifth aircraft and would begin twice daily service on work days today from its home airport Friedrichshafen in Baden-Wurttemberg to Dusseldorf, Germany, it announced today (Mon).
Andritz reports Q1 profit increase
Styrian industrial-plant builder Andritz has reported a net profit increase year on year during the first quarter of 2010 but failed to specify the amount of the increase.
BCR's Q1 net profit slumps
Austrian Erste Group's Romanian subsidy Banca Comerciala Romana (BCR) had a decline of 26.4 per cent in net profit in the first quarter of this year, according to company data released today (Fri).