People’s Party (ÖVP) Economy Minister Reinhold Mitterlehner has revealed that Austria would acquire banking stocks to save the finance institutes from ruin in the worsening economic crisis. Mitterlehner told national broadcaster ORF yesterday (Sun) that the Republic of Austria was ready to buy bank shares in a worst case scenario. Assumption of liabilities and paying […]
Tag: state
Strabag snatches Oman order
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An affiliate of Strabag SE has achieved a multi-million Euro assignment in Oman. The Austrian construction company said yesterday (Thurs) its Arabian subsidiary company would build a new port in Duqm, a port city in Oman, for 150 million Euros. The deal features the construction of numerous shipyards but also main roads, Strabag explained, adding […]
HGAA stops ship leasing
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Struggling Hypo Group Alpe Adria (HGAA) withdraws from nautical leasing operations in Southeast Europe. The bank – which is currently trying to restore its finances after being nationalised in 2009 – said around 320 leased HGAA vessels were currently operating, down from 700 in 2008. International consulting company PriceWaterhouseCoopers claimed in 2009 that 400 HGAA […]
Private businesses have higher payment morale than public institutions, research has shown. KSV 1870 (KSV), a federal association for the protection of creditors, said yesterday (Thurs) debtors in Austria paid up after an average 30 days. The organisation – which investigated payment statistics in June – explained it took 38 days until public institutions like […]
Austria extradites Sanader
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Austria has extradited one of Croatia’s most controversial politicians. Former Croatian Democratic Union (HDZ) chairman and Prime Minister Ivo Sanader was transferred from Salzburg to a prison in Zagreb, the federal capital of Croatia, yesterday evening (Mon). Sanader was put in custody in Salzburg last December. He had been behind bars in the Austrian city […]
Austria’s decision not to extradite a war crimes suspect has caused a severe diplomatic rift with Lithuania. Juridical decision-makers opted to let Mikhail G. go after he was put in custody at Vienna International Airport (VIA or VIE) last Thursday. The former officer of Soviet security agency KGB is accused of having masterminded the operations […]
Austrian People’s Party (ÖVP) Finance Minister Maria Fekter has emphasised that private companies should get on board to rescue Greece. The cash-strapped Eurozone and European Union (EU) member state is seen on the brink of bankruptcy by a growing number of financial market experts. Many commentators fear the southern country will be unable to pay […]
Duo in clinic after plane crash
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Two Germans have been injured after their light aircraft crashed near Mauterndorf. Police in the province of Salzburg said the pair were hospitalised after the incident this morning (Weds). They explained that the pair had been the only ones on board the Cessna light aircraft which plunged to the ground around one kilometres from the […]
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 […]
Leitner calls for CEO pay cut
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A leading Social Democrat (SPÖ) has suggested business bosses should not earn more than the president. Josef Leitner, who heads the SPÖ’s branch in the province of Upper Austria, said today (Thurs) CEOs of companies in which the state holds stakes could have their wages cut owing to the volatile economic climate. The left-winger argued […]