European Technology, Media and Telecoms Correspondent
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Mar 28, 2013

Budget discipline in regions trims Austria’s deficit

VIENNA, March 28 (Reuters) – Austria ran a state budget
deficit of 2.5 percent of gross domestic product in 2012,
smaller than the government had forecast and below EU targets,
the country’s statistics office said on Thursday.

The country had projected a 2012 deficit of 3.1 percent
given the cost of aid to struggling state-owned banks and
because of slower-than-expected economic growth.

Mar 26, 2013

Shale gas lures global manufacturers to US industrial revival

FRANKFURT/VIENNA, March 26 (Reuters) – When Wolfgang Eder
and his team started looking around for a site for a new plant
for Voestalpine, the Austrian steelmaker he heads,
they had 17 sites in eight countries on their list.

This month, after more than a year of looking, they settled
on the U.S. state of Texas, after a boom in the production of
natural gas from shale extraction brought gas prices down to
just a quarter of what companies paid in Europe.

Mar 21, 2013

Raiffeisen buys Citi’s Romanian retail portfolio

VIENNA/BUCHAREST, March 21 (Reuters) – Austria’s Raiffeisen
Bank International has agreed to buy Citibank’s
retail portfolio in Romania, which has more than 90 million
euros ($117 million) in assets, it said on Thursday.

The deal – worth less than 100 million euros according to a
source familiar with the situation – is the first such
acquisition since Raiffeisen bought Polbank, the Polish arm of
Greece’s EFG Eurobank Ergasias, last year.

Mar 15, 2013

Red Bull’s openness on faeces threat could pay off

VIENNA (Reuters) – Red Bull’s unusual decision to go public on a blackmailer’s threat to contaminate its energy drinks with faeces could cost the brand far less long-term than any immediate hit to sales.

Known for investing heavily in marketing its drinks and sports events, the privately owned Austrian company reveals little about itself. So its announcement on Thursday of a criminal threat to taint its drinks came as a particular surprise.

Mar 13, 2013

Austria’s Voestalpine picks Texas for $700 mln plant

VIENNA, March 13 (Reuters) – Austrian steelmaker Voestalpine
has picked Texas as the location for a new 550 million
euro ($716 million) sponge iron plant, a sign that cheap U.S.
energy prices are attracting industrial investment as Europe
lags behind.

The plant, Voestalpine’s biggest foreign investment to date,
is due to begin operations in early 2016 and is part of the
steelmaker’s plan to boost its sales through aggressive
expansion in the Americas and Asia.

Mar 12, 2013

Austria’s president says Nazi past can’t be forgotten

VIENNA (Reuters) – Austria cannot draw a line under its Nazi past despite the desire of many Austrians to so do, its president said on the 75th anniversary of the country’s annexation by Nazi Germany.

Adolf Hitler and his troops marched unopposed on March 12, 1938 into an Austria weakened by political and economic turmoil and were cheered by hundreds of thousands of people, many of whom took part enthusiastically in the Holocaust that followed.

Mar 11, 2013

Vienna Philharmonic acknowledges honouring Nazi war criminal

VIENNA, March 11 (Reuters) – The famed Vienna Philharmonic
has acknowledged that many of its musicians were Nazi party
members during Hitler’s rule and that its director may have
delivered a prestigious orchestra award to a Nazi war criminal
two decades after the end of World War Two.

The orchestra, which has come under fire for covering up its
history, on Sunday night published details for the first time
about its conduct during the Nazi era, including biographies of
Jewish members who were driven out and sent to death camps.

Mar 10, 2013

Incidents make Jews wary, 75 years after Hitler annexed Austria

VIENNA (Reuters) – Marina Plistiev, a Kyrgyzstan-born Jew, has lived in Vienna for 34 years but still doesn’t like to take public transport.

She recalls the day in 1986 as a teenager when she and her four-year-old brother, whom she’d collected from school with a fever, were told to get off a tram for having the wrong tickets, and nobody stuck up for them, apparently because they were Jews.

Mar 9, 2013

Vienna Philharmonic lifts lid on Nazi history

VIENNA, March 10 (Reuters) – The world-famous Vienna
Philharmonic orchestra will publish details of its history
during the Nazi era on Sunday, responding to years of
accusations of a cover-up.

Austria took several decades after World War Two to
acknowledge and voice regret for its central role in Hitler’s
Third Reich and Holocaust. The country will solemnly mark the
75th anniversary on Tuesday of its annexation by Nazi Germany.

Mar 8, 2013

Moody’s keeps negative outlook on Austrian banking

VIENNA, March 8 (Reuters) – Moody’s kept its negative
outlook for Austria’s banking system on Friday, citing a
weakening operating environment, rising bad debt charges and a
limited capacity of many banks to absorb losses.

The credit ratings agency said these negative factors were
only partly counter-balanced by what it saw as the modest
funding risks of most Austrian banks.

    • About Georgina

      "Currently based in London, with particular responsibility for professional publishers and the European activities of global technology, media and telecoms firms. Previously European technology correspondent based in Frankfurt. Began career in local radio in Glasgow and then worked in TV news for many years for Reuters, the BBC and Sky News in London and Moscow."
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