HGAA achieves profits after all


Hypo Group Alpe Adria (HGAA) has made a profit for the first time in four years. The struggling finance institute – which had to be nationalized in December 2009 – said it managed to make profits of 59 million Euros last year. The Klagenfurt-based bank headed by Gottwald Kranebitter sustained a loss of more than […]

Austria freezes Gaddafi fortune


Austria has blocked all assets of the Libyan Gaddafi clan in the country, it has been confirmed.The Austrian National Bank (OeNB) appealed on the country’s banks to block the deposits of 26 people including Libyan leader Muammar al-Gaddafi, his wife, their eight children and high-profile military and secret service chiefs.The OeNB said it estimated the […]

Fewer forged Euro notes spotted in 2010

General News

Fewer than 9,000 fake Euro banknotes were confiscated in Austria last year, helping the country to remain among the Eurozone members with the lowest forgery rate.The Austrian National Bank (OeNB) announced yesterday (Mon) that 8,812 forged Euro notes were discovered and banned last year, down from 9,780 in the previous year. It added that the […]

OeNB ups economic outlook


The Austrian National Bank (OeNB) said today (Fri) it expected the Austrian economy to grow by 2.1 per cent year on year.OeNB announced only in June that the country’s economy could improve by 1.8 per cent in 2011 compared to this year.The bank’s latest estimation is also more optimistic than recent predictions by Austria’s leading […]