An Austrian bank is now offering its customers a bank card made out of corn that is biodegradable once it is finished with. The idea is part of an environmental initiative by the Raiffeisen Bank International AG (RBI) which includes not only biodegradable card but also packaging in which it is sent which is also […]
Tag: credit
A leading rating agency has sent shockwaves through Austria by threatening to downgrade its credit rating. New York City-based credit rating agency Moody’s announced last night (Mon/Tues) that it decided to put Austria on negative credit watch due to great uncertainty about whether Europe will be able to solve the worsening debt crisis. The outlook […]
Fitch confirms Austrian AAA
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Another leading credit rating agency has confirmed Austria’s excellent financial condition. US American rating agency Fitch said yesterday (Tues) it decided to keep Austria’s rating at AAA, the best possible estimation agencies issue on the financial trustworthiness and stability of a country or a company. Some experts warned that Fitch might consider downgrading Austria due […]
Faymann wants European rating agency
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The Austrian Social Democrats’ (SPÖ) appeal to install a European credit rating agency has found prominent support. Siemens board member Brigitte Ederer said today (Weds) she had been in favour of the idea “for many years.” The former SPÖ state secretary told radio station Ö1 that the “dominance” of US American institutions “had consequences.” Ederer […]
Transaction error upsets BA clients
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Bank Austria (BA) customers have been assured they will be compensated for losses temporarily suffered due to a technical glitch.Viennese newspapers report today (Thurs) that hundreds of customers of BA and credit card payment services provider Paylife were affected by the error which meant amounts twice as high as intended had been withdrawn from their […]
Oberbank presents bright 2010 figures
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Oberbank managed to improve its volume of credit and value of customer assets last year, according to preliminary figures.The institute said today (Tues) that its volume of credit improved by 5.7 per cent year on year to 10.4 billion Euros. The bank also said that it was in charge of 20 billion Euros of customer […]
The recession still has the European construction sector in its grip, a leading building company has warned.Linz-based Swietelsky, Austrias fifth-biggest construction firm, said today (Tues) that it would give a “careful” outlook due to the “insecure situation” in the Eurozone. The term describes the 16 European Union (EU) members which use the Euro as their […]