BAWAG boss Byron Haynes has denied claims Cerberus Capital Management considered leaving the Austrian bank sooner than planned following the introduction of stricter banking regulations.Haynes stressed today (Weds) speculations that the US American investor would sell BAWAG sooner than expected because of the Basel III agreement were wrong. Cerberus committed to remain on board for […]
Tag: tax
Political decision-makers are at odds over what conclusions to draw from economic predictions made today (Fri).The Institute for Economic Research (WIFO) and the Institute for Higher Studies (IHS) announced they expected the Austrian economy to recover quicker from the credit crunch than initially predicted.IHS said the countrys gross domestic product (GDP) will rise by 1.8 […]
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 […]
VIG profit jumps amid tax woes
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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 […]
Raiffeisenzentralbank (RZB) head Walter Rothensteiner has appealed to people not to “overestimate” investigations of the near collapse of Hypo Group Alpe Adria (HGAA).Rothensteiner said today (Thurs) the Austrian financial sectors reputation would not suffer because of embezzlement and fraud investigations of dozens of politicians and former bankers responsible for the actions of the bank that […]
Erste Bank CEO wants tax on assets
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The head of Austrias second-biggest bank has caused a stir by calling for the introduction of a tax on assets.Erste Bank boss Andreas Treichl told weekly magazine News today (Thurs): “A decent taxation on assets must be set up, of course, as well as (higher) real estate tax levels and inheritance tax.”Treichl also said tax […]
Kaltenegger wipes away land tax calls
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Peoples Party (ÖVP) general secretary Fritz Kaltenegger has ruled out higher real estate taxes as the budget debate intensifies.Kaltenegger said today (Fri) his party opposed an increase of land tax from next year. His pledge comes days after several economists and the ÖVPs coalition partner, the Social Democrats (SPÖ), called for an open discussion over […]
Hungary is “playing with fire,” Raiffeisenzentralbank (RZB) boss Walter Rothensteiner has warned as the country plans to go ahead with introducing a bank tax.Hungarian Fidesz National Economy Minister György Matolcsy said after meeting with Austrian Peoples Party (ÖVP) Economy Minister Reinhold Mitterlehner today (Mon) his party would press on with setting up the controversial tax.The […]
Opposition leaders have turned their guns on Peoples Party (ÖVP) Finance Minister Josef Pröll over splashing out more than 800,000 Euros on a debt information campaign.The vice chancellor was forced to reveal his ministry spent 816,802 Euros on the controversial posters following Greens MP Karl Öllinger motion in parliament yesterday (Weds).The campaign headlined “Weniger […]
More than seven in ten are in support of the introduction of a tax on assets, a new study has found.Public opinion research agency Karmasin has found that 72 per cent of Austrians backed the possible new tax, while only 18 per cent rate the suggestion a “bad idea”.This result revealed by a poll […]