Peoples Party (ÖVP) Vice Chancellor Josef Pröll has warned of “dangerous developments” as European Union (EU) member states have backed out of the previously agreed upon support package for Greece.Speaking about the Czech Republics and Slovakias decision not to contribute to the 110-billion-Euro rescue bid agreed upon last May, he said today (Thurs): “Neighbouring countries […]
Tag: Euros
Spar Austria reports turnover increase
Categories
Spar Austrias turnover edged up year on year in the first six months of 2010, it has been announced.The company announced today (Mon) net turnover rose from 2.35 to 2.44 billion Euros, adding that earnings before interest and taxes (Ebit) improved from 36 to 39 million Euros.Spar Austria also said earnings before interest, taxes, depreciation […]
A vast majority of the mayors of Austrias debt-ridden towns could imagine cutting back subsidies for cultural events.A poll among Austrias mayors has found 95 per cent would reduce financial support for local arts and culture events were they forced to slash their annual budget. Magazine profil further reports today (Mon) the OGM research found […]
Kulterer remains in custody
Categories
Former Hypo Group Alpe Adria (HGAA) boss Wolfgang Kulterer has had his custody extended.Klagenfurt prosecutors announced today (Mon) they decided to extend the bankers detention over fears he might flee and try to cover up potential crimes previously carried out by him in connection with the near collapse of HGAA.Kulturer was arrested on 13 August. […]
Police in Austria and Serbia revealed plans to join forces in investigating alleged money-laundering activities by Serbian crooks and former Hypo Group Alpe Adria (HGAA) officials.Austrian media claimed last week ex-HGAA decision-makers cooperated with an infamous Serbian drug lord for years.Reports had it that “Balkan cocaine king” Darko Saric laundered around 100 million Euros between […]
Fire-fighting equipment producer Rosenbauer International AG had a good first half of the year as business figures presented today (Fri) show.The company headquartered in Leonding, Upper Austria, managed to increase turnover by 14 per cent to 274.5 million Euros year on year, while earnings before interest and taxes (Ebit) rose by 33 per cent to […]
HGAA to launch compensation claims
Categories
Ailing Hypo Group Alpe Adria (HGAA) bosses have revealed plans to demand compensation from former bosses and political decision-makers.HGAA chief Gottwald Kranebitter announced today (Fri) the bank would launch legal action against ex-chiefs “in the coming weeks”. Kranebitter explained that it would focus on “those who caused damage to the bank”.The HGAA head declined to […]
Social Democratic (SPÖ) Education Minister Claudia Schmied is in hot water for splashing out more than 350,000 Euros on ads in a Viennese tabloid in less than two years.A parliamentary request by Freedom Party (FPÖ) MP Walter Rosenkranz forced the education ministry to announce that it had spent 365,271.56 Euros on “information campaigns” in free […]
TA ‘interested in Telekom Srbija’
Categories
Telekom Austria (TA) is engaged in a bidding war for Serb telecommunications firm Telekom Srbija, according to reports.Belgrade daily Politika claims today (Fri) that the Austrian market leader has interest in taking a 50 per cent stake in the company from the Serb government. The report also has it that Germanys Deutschen Telekom, Egyptian firm […]
VIG profit jumps amid tax woes
Categories
Vienna Insurance Group (VIG) reported increased profit today (Thurs).The company announced net profit had risen by 9.2 per cent from the first six months of 2009 to 194.4 million Euros during the same period this year. Profit before taxes jumped by 11 per cent to 255.6 million Euros, it added. Analysts had expected profit before […]