Rumours that Volksbank AG (ÖVAG) may be nationalised are increasing after the bank warned of immense losses. ÖVAG boss Gerald Wenzel said yesterday (Thurs) the finance institute could suffer a loss of 900 million Euros this year. He added that the losses may also be higher. ÖVAG received one billion Euros of so-called state participation […]
Meteorologists have announced a gale warning for many parts of Austria.Experts at the Central Institute for Meteorology and Geodynamics (ZAMG) said today (Fri) winds raging at around 100 kilometres per hour (kph) registered in mountainous areas of the province of Styria last night. They added storms of a similar scale are likely to hit Lower […]
Bank Austria (BA) chief Willibald Cernko has revealed interest in Hypo Group Alpe Adria (HGAA).The banker said today (Weds) BA was interested in acquiring HGAAs Austrian business. He explained: “We are talking about 60,000 customers here. It would be highly ignorant not to consider this.”Cernko stressed there were “many requirements” before a possible takeover. The […]
BAWAG PSK (BAWAG) boss Byron Haynes has said he will continue the current restructuring process.The former ABN AMRO CFO announced yesterday (Weds) BAWAG had to keep lowering its administration costs in the coming years.The Vienna-based institute achieved a net profit of 125.4 million Euros last year, the businessman added. It is the first time BAWAG […]
Bank Austria (BA) bosses have revealed plans to introduce a service based on the functions of mobile phones of the latest generation.BA private customer’s head of agendas Rainer Hauser said today (Tues) customers will be able to use the programme called SmartBanking with their smartphones over the internet, but also via post and fax.The model […]
Officials at the Institute for Advanced Studies (IHS) said today (Fri) that they were aiming to appoint a successor of current chief Bernhard Felderer this autumn.The think tank revealed that 14 economists and business experts have applied for the post. The deadline for applications was last Tuesday.”A company-internal committee will meet to discuss the applications […]
Three earthquakes were registered near Villach last night (Mon/Tues), according to a Viennese institute.The Central Institute for Meteorology and Geodynamics (ZAMG) announced today that there were three minor eruptions just outside the Carinthian town at 9.50pm, 21.54pm and 0.48am. They had magnitudes ranging between 1.9 and 2.2 on the Richter scale.ZAMG explained it was unlikely […]
Former Hypo Group Alpe Adria (HGAA) chief Wolfgang Kulterer is considering asking for compensation over his three-month custody.The bankers lawyer Ferdinand Lanker said today (Mon) he may ask for financial compensation for his client since he doubted the righteousness of his custody.Kulterer was arrested and put in custody in Klagenfurt in August before being released […]
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 […]
An Austrian is to head a new university in Oman.Johann Günther will become headmaster of the University of Buraimi which opens next month, it was announced today (Mon).The institute will start with a “test year” offering courses to around 300 students in October before around 10,000 people can sign up for lectures from autumn 2011.An […]