AUSTRIA: INDUSTRY NOT CONCERNED ABOUT GOVERNMENT

Article Abstract:

In a poll carried out by the industry federation Industriellenvereinigung among its members, 61% of those interviewed preferred a government coalition between the conservative People's Party OVP and the far-right Freedom Party FPO . Only 3.4% would have preferred the old coalition of OVP and the social democratic party SPO and 1.7% would have preferred new parliamentary elections. However, there are those who warn about negative consequences for Austria as a location for industry. Standard & Poors has warned about a potential downgrading of Austria's capital market ranking from the current AAA. It is suggested that if this happened, it might jeopardise the remaining privatisation in Austria. Klaus Liebscher, the governor of the central bank Oesterreichische Nationalbank, on the other hand, says that provided that the government observes a "stability-oriented programme", there is no cause for concern. Meanwhile, ABN Amro Bank of the Netherlands has put on hold a consultancy contract from the government of Carinthia "due to recent political developments".

User Contributions:

Comment about this article or add new information about this topic:

Comment:  (50-4000 characters)

Name:

E-mail:

Security Code:

AUSTRIA: BANK AUSTRIA TO HIVE OFF PROPERTY ARM

Article Abstract:

By the end of 1999 Bank Austria is to set up a foundation for its real property that is not necessary for bank operations. The value of such property amounts to about Sch 6bn. Due to the foundation structure, the property will be evaluated by market value rather than book value. Within the foundation, the property will be managed by independent management in order to boost profitability and add value to the assets. Bank Austria describes the move as a further step in withdrawing from non-banking operations.

User Contributions:

Comment about this article or add new information about this topic:

Comment:  (50-4000 characters)

Name:

E-mail:

Security Code:

AUSTRIA: RLB TO FOUND HOLDING COMPANY

Article Abstract:

The Austrian bank Raiffeisenlandesbank Niederosterreich-Wien (RLB) is to hive off its non-bank subsidiaries into a holding company as from 1 January 2000. The bank is to decide on further details by May 2000. RLB holds stakes in NOM , Agrana and in the Kurier newspaper, among others. NOM is getting back into the black, and RLB is not considering selling its stake for the time being.

User Contributions:

Comment about this article or add new information about this topic:

Comment:  (50-4000 characters)

Name:

E-mail:

Security Code: