Vienna

Party of late rightist leader Haider faces test in Austrian poll

Party of late rightist leader Haider faces test in Austrian pollVienna  - The party of late Austrian far-right leader Joerg Haider faced a key test Sunday as voters in his stronghold province of Carinthia cast their ballots for the regional parliament for the first time since his death.

Haider died last October aged 58 in a drunken driving accident. His Alliance for the Future of Austria (BZOe) has since been banking on his legacy in a bid to secure the party's future, which was geared towards its charismatic leader.

Erste Bank profits 27 per cent lower after write-downs in CEE

Erste Bank profits 27 per cent lower after write-downs in CEEVienna - Austria's Erste Group Bank AG reported Friday that its net profit declined by 26.8 per cent to 860 million euros (1.1 billion dollars) in 2008, as it wrote down premiums on asset values in three Central and Eastern European daughter companies.

Hit by the financial crisis, Erste made a net loss of 603 million euros in the fourth quarter ending in December, compared with a profit of 337 million euros in the same period of the previous year.

OPEC oil price jumps 2.45 dollars

OPEC oil price jumps 2.45 dollarsVienna - The price for oil produced by the Organization of the Petroleum Exporting Countries shot up by 2.45 dollars Thursday, as oil and gasoline stocks in the United States were seen to be lower than expected.

One barrel (159 litres) of OPEC-produced crude stood at 42.95 dollars Thursday, the Vienna-based cartel announced Friday.

Oil prices continued to rise on Wednesday's news that US crude oil stocks had fallen for the second week and that gasoline stocks were also down, commodity analyst Carsten Fritsch at Commerzbank said in Frankfurt.

OPEC oil price climbs to 40.50 dollars

OPEC crude price gains 6.75 dollars last week

Elderly Austrian couple escape avalanche - warned by their cows

Vienna  - An elderly Austrian farming couple just managed to escape an avalanche sweeping down towards their house in Tyrol province Wednesday - after being warned by their cows.

According to local police, the couple took heed as the cows in the barn grew agitated.

The 68-year-old man and his 63-year-old wife just got out in time before the avalanche descended on the their property, leaving it under snow up five metres high. The animals were unhurt.

The heavy snowfall of the past few days saw a large number of avalanches triggered in the Austrian Alps Wednesday.

A man was killed in the Salzburg province when he was buried while snowboarding away from marked slopes.

Steelmaker voestalpine profits down by half in third quarter

voestalpine AGVienna - Austrian steelmaker voestalpine AG said Wednesday its net profit in the third business quarter fell by more than 50 per cent to 87 million euros (101 million dollars) and announced further job cuts.

Voestalpine said that owing to lower prices, it had to devalue for production materials. This led to a lower operating income of 196 million euros in the quarter ending in December, compared with 258 million euros in the same period of 2007.

Pages