VIENNA (Reuters) – Austria’s mainstream pro-Europe parties agreed on Thursday to govern in coalition for the next five years, promising to ensure continued prosperity in the Alpine euro zone nation.
The Social Democrats (SPO) and conservative People’s Party (OVP) had promised a new, progressive approach to politics after September elections in which voters tired of party paralysis punished them and bolstered the far right.
VIENNA, Dec 11 (Reuters) – Energy group Verbund
needs more time to decide the future of its struggling gas-fired
power plants, which it had hoped to resolve by the end of the
year, it said on Wednesday.
Verbund is battling a difficult environment for gas power
plants in Europe, where demand is low due to a weak economic
climate, while competing renewable energy sources are being
heavily subsidised in neighbouring Germany, the continent’s
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.
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.
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
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.
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.
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.
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.
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.
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
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