VIENNA, Feb 25 (Reuters) – Austrian fireproof materials
maker RHI is confident it can make profitable within
two years a Norwegian plant whose troubles cut into the
company’s full-year results.
Chief Executive Franz Strutzl said on Tuesday the idea of
shutting down the magnesia-fusion plant was now off the table,
as major technical problems had been resolved, although work
remained to be done to reduce production costs.
VIENNA (Reuters) – Austria should not demand creditors of struggling state bank Hypo Alpe Adria HAABI.UL take a “haircut” on the debt, central bank head Ewald Nowotny said, contradicting the country’s finance minister.
Nowotny, who was on Friday put in charge of a task force set up to advise the government on how to wind down Hypo after its previous chief quit, said Austria’s reputation was at stake if it did not stand by its obligations.
VIENNA, Feb 19 (Reuters) – Austrian oil and gas group OMV
said unrest in Libya and Yemen as well as low refining
margins and gas prices cut fourth-quarter adjusted operating
profit by 54 percent.
However, the company, which is investing heavily in
exploration and production (E&P) while struggling with weak
demand in Europe, confirmed a 2014 production target despite the
volatile security situation in North Africa and the Middle East.
VIENNA/MILAN, Feb 12 (Reuters) – Austrian property group
Immofinanz said it had agreed to buy 18,000 German
homes for about 892 million euros ($1.21 billion), paving the
way for a spin-off of its Buwog unit.
Italy’s Prelios, one of the two sellers along with
Deutsche Asset & Wealth Management, said on Wednesday
the price comprised 162 million euros in equity, 736 million
euros in debt, and working capital.
VIENNA, Feb 11 (Reuters) – Austrian steelmaker Voestalpine
cut its full-year profit forecast on Tuesday, hit by
falling prices for pipeline and power station projects due to
weak demand in the energy sector.
Voestalpine said it now expected core and operating profit
“somewhat beneath” last year’s levels instead of stable, after
reporting third-quarter earnings and sales that were well below
VIENNA/MILAN, Feb 3 (Reuters) – Austria’s Verbund
has rejected its partly owned Sorgenia unit’s call for funds,
jeopardising the chances that talks with creditor banks on a
debt standstill will succeed.
The loss-making Italian energy company, controlled by
holding company CIR, is trying to negotiate freezing
repayments on almost 1.8 billion euros ($2.4 billion) of debt
VIENNA (Reuters) – Austria is open to Carlos Slim’s America Movil (AMXL.MX: Quote, Profile, Research, Stock Buzz) taking a majority stake in Telekom Austria (TELA.VI: Quote, Profile, Research, Stock Buzz), the head of the state holding company said, paving the way for a long-awaited move by the billionaire investor.
Rudolf Kemler said it was a “secondary question” whether Slim, who is keen to reduce his dependence on the increasingly regulated Mexican market, bought a majority of Telekom Austria as long as the Austrian government kept at least 25 percent.
VIENNA (Reuters) – Austria’s new Foreign Minister Sebastian Kurz will champion European Union membership for qualifying Balkan countries when he meets EU counterparts next week, he told Reuters on Friday.
It will be the first formal meeting of EU foreign ministers for Kurz, just 27 and a rising star in the People’s Party who got the top foreign policy job last month in a cabinet reshuffle after September elections.
VIENNA, Jan 16 (Reuters) – Mexican telecoms tycoon Carlos
Slim has agreed to consolidate his company and family stakes in
Telekom Austria, clarifying his position in the eyes
of regulators that monitor when stakeholdings become large
enough to trigger takeover bids.
Slim’s America Movil will own 26.8 percent of
Telekom Austria after buying a 3.14 percent stake from a family
foundation, enough to veto big decisions at the Austrian firm
but below the 30-percent mandatory takeover offer threshold.
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.