European Technology, Media and Telecoms Correspondent
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Jan 15, 2014

Emerging Europe central banks shrug off tapering fears

VIENNA, Jan 15 (Reuters) – Emerging European countries are
casting a wary eye on capital flows as the United States starts
to unwind stimulus but see no urgent need to adjust monetary
policy, central bankers from the region said on Wednesday.

Expectations that the U.S. Federal Reserve would begin to
scale back – or “taper” – extraordinary economic stimulus first
hit markets in May, prompting many investors to pull funds out
of emerging markets seen as risky.

Dec 28, 2013

Removal of chemical weapons from Syria delayed: watchdog

VIENNA (Reuters) – The removal of deadly toxins from Syria under an international effort to rid the nation of its chemical arsenal will likely miss a December 31 deadline, the global chemical arms watchdog said.

Bad weather and shifting battlefronts in Syria’s civil war have delayed the delivery of essential supplies to sites where the toxins are being prepared to be sent to Latakia port, the Organisation for the Prohibition of Chemical Weapons (OPCW) said.

Dec 20, 2013

Vienna Philharmonic revokes honors to Nazis

VIENNA (Reuters) – The famed Vienna Philharmonic orchestra has revoked awards it made during Hitler’s rule to six leading Nazis, as it quietly responds to criticism of the way it has dealt with its past.

The symbolic move, decided in October but not publicly announced, follows the Philharmonic’s publication earlier this year of details of its conduct during the Nazi era, which it revealed for the first time.

Dec 19, 2013

Carlyle ventures into Europe’s ailing refining sector

VIENNA (Reuters) – Private equity giant Carlyle Group (CG.O: Quote, Profile, Research, Stock Buzz) made a surprise foray into Europe’s struggling refining sector by teaming up with Swiss trading house Vitol VITOLV.UL to co-own refining, storage and distribution assets in Switzerland and Germany.

Carlyle, which has $185 billion globally under management, and Vitol, the world’s largest oil trader, launched on Thursday a 50/50 venture Varo Energy, which bought 45 percent in Germany’s 260,000 barrels per day Bayernoil refinery from Austrian group OMV (OMVV.VI: Quote, Profile, Research, Stock Buzz).

Dec 14, 2013

Austria’s Freedom aims to enlarge Eurosceptic bloc

VIENNA (Reuters) – A core of six Eurosceptic parties is aiming to win over another four right-wing parties to create a new political group in the EU parliament, the leader of Austria’s Freedom Party said.

In the run up to May’s EU-wide elections to the parliament, momentum is building to create a grouping of nationalist parties which would entitle members to more office space and support staff as well as EU funds for meetings and publicity.

Dec 12, 2013

Austrian govt accord boosts bank levy surcharge-sources

VIENNA, Dec 12 (Reuters) – The coalition accord struck by
Austria’s two big parties on Thursday calls for increasing a
bank levy surcharge that the country imposed last year, two
sources familiar with the agreement said.

Austria launched a special bank levy in 2011 to help recoup
costs of propping up the sector during the financial crisis. The
underlying levy, originally supposed to last until 2017, raises
around 500 million euros ($690 million) a year.

Dec 12, 2013

Mainstream parties clinch Austrian coalition deal

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.

Dec 11, 2013

Verbund says needs more time to decide on gas plants

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
biggest economy.

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.

    • 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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