Niemetz, the Austrian manufacturer of the “Schwedenbomben” confectionary, has been saved from insolvency. The creditors have agreed to the restructuring plan and will get a rate of 95 percent. An investor from South America will support Niemetz. The representatives of the creditors have not learned any details about the investor so far. The money (more […]
OMV sees 4 per cent boost
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The listed oil producing company OMV increased its revenue in the first quarter of 2013 by 4 percent to 10.8 billion Euros compared to the same quarter of last year. The company not only managed to increase the revenue but also the net surplus by 52 percent to 951 million Euros. However, the surplus before […]
The traditional 0,75-litre bottle of wine as we know it is thought to have been invented by the French emperor Napoleon. Austrian wine producers also completely moved across to the 0,75 litre-bottles after the wine scandal in 1985. The “Groszer Wein” winery in the Einsenberg district of Burgenland, however, has decided to go back to […]
Hypo Alpe Adria subsidy will be sold
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The final negotiations about the sale of the Austrian subsidy of the bank group Hypo Alpe Adria are currently underway. The Indian “Srei Group” with headquarters in Calcutta allegedly has good chances. The Srei Group is a listed company and one of the leading private financial institutes in the infrastructure sector of India. However, the […]
The luxury hotel Bristol at Kärntner Ring in Vienna (next to the State Opera) has been undergoing renovation for a year. The bar was now reopened. The lobby, reception and the restaurant will open until November. Anthony Quinn and Shakira, George Gershwin and Herbert von Karajan as well as Juan Carlos from Spain and Kofi […]
Swarovski invest in India
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Austrian crystal maker Swarovski has snapped up a share in the Indian jewellery firm Tara Jewels. According to information from inside the company the deal was signed in December by the Swarovski investment firm Crystalon Finanz AG based at Meilen in Switzerland. The jeweller based in Mumbai employs 1,740 staff and has 30 stores in […]
Vienna sees big rent prices increase
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Rental prices for office space in the Austrian capital of Vienna is some of the most expensive in Europe. Experts from property company EHL Immobilien also warn that the rental prices will continue to rise. In top locations such as Vienna’s first district location Kohlmarkt office space goes for 390 Euro per M2 per month. […]
Hotel Burgenland in Eisenstadt is under new management from this year. The famous four-star hotel was formerly part of Austria Hotels Betriebs GmbH for 10 years and has now been sold. The hotel will now be run in its own rights are not as part of the chain, say the management. The director of the […]
A businessman from Lower Austria who wanted to take out a loan online has been conned out of 51,000 Euros. The Lower Austrian was drawn in by a tempting offer made by the fraudsters based in the UK. They promised the man a quick and easy loan of a million Euros on the condition that […]
Austria’s state railway system could be facing a multi-million pound bill if Italian officials are correct and that many of its goods wagons have got faulty wheels thanks to outsourcing in eastern Europe. According to a report on the Austrian state broadcaster the ORF, a Slovakian subsidiary firm of the rail company is responsible for […]