Christoph Franz has been appointed new Lufthansa boss.The aviation firm announced yesterday (Tues) that the 50-year-old German businessman will succeed Wolfgang Mayrhuber as of the beginning of next year.Mayrhuber, who was born in the Upper Austrian town of Waizenkirchen, started working for Lufthansa in 1970. He has headed the firm that has its headquarters in […]
Tag: Euros
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 […]
A Viennese police officer faces the sack after ordering a parking violator to buy him a crate of beer instead of paying a fine.Judge Irene Mann heard yesterday (Weds) how the 28-year-old officer wrote on the ticket “That costs one beer crate” after spotting a police pennant inside the illegally parked BMW in the city […]
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 […]
BA job loss concerns as Profumo quits
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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 […]
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 […]
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 […]