Austrian Airlines (AUA) bosses have said they will continue to carry out the ongoing cost-cutting regime as the firm suffered losses of 67 million Euros in the first half of this year.Operative losses reached 93.5 million Euros in the first six months of 2009.AUA co-chiefs Peter Malanik and Andreas Bierwirth announced today (Thurs): “Our measures […]
Austrian furniture megastore chain XXXLutz has coughed up around 200 million Euros to snatch up a Slovenian competitor, it has been claimed.Business dailies report today (Thurs) that XXXLutz which has around 17,000 employees transferred between 150 and 200 million Euros to Lesnina owners to take over the company in full.Bosses at the company […]
Telekom Austria Group (TA) has joined an internationally-operating union of telecommunication service providers.Technology media report today (Thurs) that the Austrian market leader has become a member of the Wholesale Applications Community (WAC), with TA chief Hannes Ametsreiter named board member of the body.WAC aims to be an international interface between creators of IT applications and […]
Bulgarian legal chiefs have confirmed an anti-monopoly bodys decision to fine Austrian firm EVN.Local media report today (Weds) that the federal Supreme Administrative Court has ruled that the Competition Protection Commission acted “correctly and lawfully” in handing the energy provider a 77,000-Euro fine over its dominant market position.Meanwhile, the construction of a hydro power plant […]
Peoples Party (ÖVP) Economy Minister Reinhold Mitterlehner has said the Austrian economy will prove think tanks wrong by growing stronger than predicted.The Institute for Economic Research (WIFO) and the Institute for Higher Studies (IHS) said earlier this year they expected the countrys economy still considered to be in a fragile condition after the global […]
Verbund chief Wolfgang Anzengruber has said planned investments might be delayed due to the continuing debate over a capital increase.The government has been at odds for weeks over whether it should console the energy provider with 500 million Euros in an overall one-billion-Euro capital increase. The Austrian State holds a 51 per cent interest in […]
Apples iPhone 4 will go on sale in Austria later this week, it has emerged.The American company confirmed reports that the latest edition of its bestselling Smartphone was set to hit the shelves in the country today (Tues).Apple announced that the iPhone 4 will also be available in Switzerland, Sweden, Luxembourg, Italy, New Zealand, Singapore, […]
Croatia is celebrating after a United Nations (UN) court rejected an Austrian company’s demand for 80 million Euros compensation over a failed gambling venture.The gambling project was set up by the Croatian Lottery together with the Austrian firm Adria Beteiligungs GmbH (Adria) which suffered during the independence war and was eventually scrapped over management differences.The […]
Vorarlberg textiles producer Wolford has managed to double its earnings year on year, it has emerged.Company officials said today (Fri) earnings before interest and taxes (Ebit) soared from 2.18 million Euros in the 2008/2009 business year to 4.5 million Euros in the past business year.They added that Wolford, which is headquartered in Bregenz, had now […]
Insurers have said they may have to pay out more natural disaster compensation than ever before as Austria has been hit by several devastating thunderstorms and floods.The federal Association of Austrian Insurance Agencies said today (Fri) damages to insured estates caused by freak weather conditions equals around 200 million Euros so far this year.The body […]