A Bank Austria (BA) official has revealed he was “alarmed” by the retirement of UniCredit boss Alessandro Profumo.Profumo, who announced yesterday (Tues) he would step down, has been heavily criticised for failing to prevent Libyan state bodies increase their stake in the Italian institute to 7.5 per cent.The Italian banker guaranteed UniCredits subsidiary BA it […]
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 […]
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 […]
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 […]
Viennese hotels have increased their prices following a record number of overnights in the first half of this year.Online hotel comparison platform Trivago (www.trivago.co.uk/hotelprices) announced today (Thurs) a double room in the Austrian capital cost 125 Euros a night on average this month, up from 113 Euros last month.The development means Vienna is currently the […]
Social Democratic (SPÖ) Vienna financial affairs councillor Renate Brauner has rubbished rumours she was set to enter Vienna International Airports (VIA) board.Speculations Brauner would leave politics to become a member of the board of Flughafen Wien AG, the company managing VIA, have lingered on for weeks as decision-makers at the airport have come under pressure […]
Vienna International Airport (VIA) decision-makers are under fire after details of an Audit Office (RH) investigation into the delayed construction of a new terminal were revealed.Viennese daily Kurier reports today (Mon) that bosses at Flughafen Wien AG the firm which manages the airport failed to react instantly when first technical difficulties with submitted […]
Hannes Androsch has claimed US investor Cerberus Capital Management is considering leaving Austrian BAWAG PSK soon.The Former Social Democratic (SPÖ) finance minister said at a business event last night (Tues) it was possible that the American bank house withdrew its engagement “in the foreseeable future”.Cerberus however is committed to remain on board for at least […]
Austrian Federal Railways (ÖBB) is back in the black after ending a controversial speculative deal with Germanys Deutsche Bahn (DB).ÖBB said today (Mon) its operating profit had been 121 million Euros in 2009 after it had had 970 million Euros in losses in the previous year.The company however lost 300 million Euros in a speculative […]
Alpine Bau GmbH is to build two motorway sections and seven bridges in Serbia as part of the Pan-European Corridor project.Alpine will build a 5.8-kilometre bypass around the city of Dimitrovgrad and another motorway section of 8.6 kilometres towards Bulgaria.The Salzburg-based construction company is also set to construct seven bridges in the country.Officials said today […]