European Technology, Media and Telecoms Correspondent
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Dec 11, 2013

Austrian banks set to pass stress tests: central bank

VIENNA (Reuters) – Six Austrian banks will hold up well in European stress tests next year that are designed to gauge whether the region’s banks can withstand tough market conditions, the Austrian National Bank (OeNB) said on Wednesday.

OeNB Governor Ewald Nowotny gave an upbeat view of how domestic banks would fare in the stress tests that aim to reassure investors about the resilience of 128 big euro zone banks in the wake of the financial crisis.

Dec 4, 2013

Libya hopes to restore full oil output in two weeks

VIENNA/TRIPOLI, Dec 4 (Reuters) – Libya hopes on Dec. 10 to
reopen all its oil ports blocked by protesters over political
and financial demands and resume full production about a week
later, Oil Minister Abdelbari al-Arusi said on Wednesday.

A mix of militias, tribesmen and minorities demanding a
greater share of Libya’s oil wealth and more political power
have shut most oilfields and ports, cutting oil output to
224,000 barrels a day from 1.4 million bpd in July.

Dec 4, 2013

Libya says expects to restore full oil output in two weeks

VIENNA, Dec 4 (Reuters) – Libya hopes to reopen all its oil
ports on December 10 and resume full production about a week
later after the Libyan army threatened to use force against
armed protesters.

Libyan Oil Minister Abdelbari al-Arusi told reporters at an
OPEC meeting he was “optimistic” that pressure on protesters to
allow the resumption of production would see Libyan oil output
restored to 1.5 million barrels a day.

Nov 21, 2013
via FaithWorld

New York-style Jewish-Muslim cooperation comes to old Vienna


(A light installation commemorating Holocaust victims is seen on a wall in the second district of Vienna October 23, 2013. REUTERS/Leonhard Foeger )

New York Rabbi Marc Schneier won a small but significant victory on a recent visit to Vienna – a promise from the head of Austria’s Islamic community to promote Holocaust education among the country’s half a million Muslims.

Nov 20, 2013

Vienna museum denies Jewish owner sold Klimt frieze under duress

VIENNA (Reuters) – The Viennese museum that houses one of Gustav Klimt’s greatest artworks says it has evidence that its previous Jewish owner sold it to the Austrian state in an amicable transaction, rather than too cheaply under duress.

The Secession museum is defending itself against a claim from some of the heirs of art collector Erich Lederer, who sold the monumental 1902 Beethoven Frieze to the state for $750,000 in 1973.

Nov 15, 2013

Far-right parties seek common strategy for EU election

VIENNA (Reuters) – Representatives of far-right parties from five EU nations tried to build a common strategy on Friday for European Parliament elections next May when their anti-immigrant message is expected to bolster their support.

The populist parties hope to create a new political group within the parliament after the elections, capitalizing on what polls suggest is rising voter frustration with mainstream politics and the European Union.

Nov 14, 2013

America Movil says plans no hostile bid for Telekom Austria

VIENNA, Nov 14 (Reuters) – America Movil does not
plan a hostile takeover bid for Telekom Austria
following its failed attempt to buy Dutch company KPN,
its chief executive said.

Daniel Hajj said the Latin American group controlled by
billionaire Carlos Slim had not taken its stake in Telekom
Austria a year ago in order to take over the company, and saw
itself as a stable partner of fellow large shareholder Austria.

Nov 13, 2013

Constantia Flexibles share offer to raise up to 821 mln euros

VIENNA, Nov 13 (Reuters) – Austrian packaging group
Constantia Flexibles (IPO-COFH.VI: Quote, Profile, Research, Stock Buzz) plans to raise up to 821
million euros ($1.10 billion) in an initial public offering in
Frankfurt and Vienna on Nov. 27, valuing the firm at up to 1.43
billion euros.

Constantia, which ranks number two in Europe behind
Australia’s Amcor Ltd, said it would price its new
shares in a range of 19.50 to 25.50 euros each and would offer
up to 32.2 million shares for sale or 57.5 percent of the

Nov 13, 2013

Corrected – Nazi Kristallnacht against Jews remembered as living memory fades

VIENNA (Reuters) – Lilly Drukker was 11 years old when two uniformed Nazis barged into her family’s Vienna apartment in November 1938 to take her father away to the Dachau concentration camp.

It was the day after Kristallnacht, a state-sponsored spree of looting and destruction of Jewish property across Germany and Austria that marked a turning point in Nazi policy as Adolf Hitler unleashed the general population against the Jews.

Nov 12, 2013

ECB’s Asmussen, Nowotny see room to cut rates further

BERLIN/VIENNA (Reuters) – The European Central Bank’s interest rates have not reached rock bottom even after last week’s cut, two ECB policymakers said on Tuesday.

Executive Board member Joerg Asmussen also said charging banks for parking spare cash at the central bank remained an option, while Governing Council member Ewald Nowotny said the stalling euro zone economy was a bigger concern than inflation.

    • 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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