ALPBACH, Austria (Reuters) – The fragile European economic recovery seen in the second quarter should continue into next year and become more solid, the European Commission’s top economics official told Reuters on Thursday.
Olli Rehn said greater fiscal credibility in euro zone countries, action by the European Central Bank to stabilize markets and better economic governance had all strengthened the currency bloc’s ability to withstand political shocks.
ALPBACH, Austria (Reuters) – Major central banks’ reassurances that interest rates will stay low for some time are giving markets “a certain security”, a European Central Bank policymaker said on Thursday.
Another European official, however, warned against complacency and said it was too soon to say the euro zone crisis was over.
ALPBACH, Austria (Reuters) – Greece must meet terms of its existing international bailout before it can hope for any more external aid, Austrian Finance Minister Maria Fekter said on Wednesday, taking a hard line before Austrian national elections next month.
“Before it comes to additional help, I will surely demand compliance with the (existing programme’s) terms,” she told Reuters in an interview.
VIENNA (Reuters) – Raiffeisen Bank International (RBIV.VI: Quote, Profile, Research, Stock Buzz) talked up its prospects for 2013 on Thursday as rising net interest income helped take the sting out of a profit miss in the second quarter.
Central and eastern Europe’s second-biggest lender said it now expected a slight increase this year in its net interest margin, which rose 42 basis points to 3.06 percent in the first half. Net interest income is its main profit driver.
VIENNA, Aug 22 (Reuters) – Raiffeisen Bank International
talked up its prospects for 2013 on Thursday as rising
net interest income helped take the sting out of a profit miss
in the second quarter.
Central and eastern Europe’s second-biggest lender said it
now expected a slight increase this year in its net interest
margin, which rose 42 basis points to 3.06 percent in the first
half. Net interest income is its main profit driver.
OSLO/VIENNA (Reuters) – Norway’s Statoil (STL.OL: Quote, Profile, Research, Stock Buzz) sold stakes in North Sea oil fields to Austria’s OMV (OMVV.VI: Quote, Profile, Research, Stock Buzz) on Monday, in a $2.65 billion deal giving the former cash to develop new projects and placing the latter on course to meet ambitious output targets.
The deal, which analysts said came at a comfortable premium, gives OMV a foothold in one of Norway’s biggest future oil developments and underlines a rebound in North Sea investments driven by a string of new oil field discoveries as well as high oil prices and better recovery technology.
BOGOTA/VIENNA, Aug 8 (Reuters) – Coca planting in Colombia
fell by a quarter last year as the government bolstered efforts
to stop the crop being turned into cocaine and crime gangs
shifted to other ways of funding their operations, the United
Nations said on Thursday.
Coca, the raw material for cocaine production, covered
48,000 hectares of Colombia in 2012, down 25 percent from the
year before, according to the annual report by the United
Nations Office on Drugs and Crime (UNODC). The figure is the
lowest since records started in 2001.
VIENNA, Aug 7 (Reuters) – UniCredit unit Bank
Austria aims to raise more capital this year to fuel selective
lending in central and eastern Europe (CEE) now that the
region’s boom times are over, the company said on Wednesday.
Bank Austria said CEE would still grow faster than western
Europe and the industry there had shown signs of improvement.
VIENNA (Reuters) – EU countries can under some circumstances collect a levy on blank recording media as a tool to ensure artists get fair rewards for their work, a levy that Amazon.com Inc had fought, the European Court of Justice ruled on Thursday.
The case arose from an Austrian copyright collection agency’s attempt to bill Amazon nearly 1.9 million euros ($2.4 million) for blank media such as cassette tapes, CDs, memory cards and MP3 players sold in Austria in the first half of 2004.
VIENNA, July 8 (Reuters) – Austrian banks need to find as
much as 8 billion euros ($10.3 billion) in fresh capital to meet
minimum international standards by 2022, the country’s central
bank said on Monday.
The sector’s biggest challenge is replacing 5.15 billion
euros in state aid that lenders got as the global financial
crisis raged but which will no longer count as core capital from
2017, it said in its latest financial stability report.