Federal Railways (ÖBB) boss Christian Kern has claimed now was the “last chance” to get the debt-stricken firm back on track.Kern said today (Thurs) he expected developments similar to the processes in the aviation industry to occur in the railway business. The ÖBB CEO who took up office in June also referred to […]
VIG to enter Montenegro
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Vienna Insurance Group (VIG) has been granted a concession to offer life insurances in Montenegro.The company said today (Weds) the decision meant it was now active in 24 European countries.VIG, which is listed on the Vienna Stock Exchange (WBAG), explained its subsidiary Wiener Städtische zivotno osiguranje Podgorica a.d. will handle operations in the former Yugoslav […]
OMV bosses raked in most last year
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Mineral oil firm OMV has the highest-earning board members in Austria, a report has shown.The study by investors protection group IVA found that OMVs six-member board raked in 10.2 million Euros in “crisis year” 2009, up from 8.3 million Euros in the previous year.IVA examined Austrian firms quoted on the Vienna Stock Exchanges (WBAG) Prime […]
Another prominent businessman has had his appeal to be freed with an electronic ankle tag rejected.Former BAWAG bank CEO Helmut Elsners lawyers hoped to get their client out from preventive detention in Vienna following a new law which came into effect at the beginning of this month. They previously filed 15 official appeals to let […]
OMV grabs rival’s Pakistan gas licence
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OMV has taken over a major competitors right to explore and produce gas in Pakistan, it has emerged.The Vienna-based oil and gas giant said today (Tues) it acquired the licence to produce gas in the Asian country by Malaysian firm Petronas.OMV said the purchase will increase its gas production in Pakistan to around 25,000 barrels […]
Wolford turnover soars
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Vorarlberg textiles firm Wolford has said it expects turnover to climb further this business year as good first quarter figures were presented today (Fri).The Bregenz-based company announced its operative losses fell from 3.307 million Euros to 2.466 million Euros year on year in the first three months of the current 2010/2011 business year. Its turnover […]
Siemens brand value unchanged
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Siemens AG, the German IT and electronics firm headed by an Austrian, has been knocked down two spots in the ranking of the worlds biggest brands.The company which is headquartered in Munich, Berlin and Erlangen made 49th place in analysis agency Interbrands Best Global Brands 2010 list.Interbrand said today (Fri) Siemens current brand […]
People heating their homes using wood pellets must brace themselves for higher prices this winter, it has been claimed.ProPellets Austria – a pellets producer interests association said today (Fri): “The price for one tonne of pellets normally increases by 10 to 20 Euros ahead of the winter season.”It explained that the current price was […]
Greek still keen on HGAA
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A Greek businessman is offering more than one billion Euros for ailing Hypo Group Alpe Adria (HGAA), it has emerged.Gernot Pointner, a spokesman for Vasileios Xeniadis, announced today (Fri) the investor was ready to cough up 1.35 billion Euros “immediately” if the Austrian government met him for talks.HGAA had to be nationalised last year following […]
Shops shamed by fishy findings
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The results of a series of food tests are likely to turn fish lovers stomachs.The Austrian Labour Chamber (AK) said today (Fri) two of the 20 fresh fish it bought at Viennese supermarkets and specialised dealers were unfit to eat.AK said the affected products also smelt bad when they were examined after being purchased. The […]