AUSTRIA: BANKS UNDER CRITICISM
Article Abstract:
The Austrian consumer protection organisation VKI has filed a suit against the country's largest bank, Bank Austria, for its interest escalation clause in loan contracts. Supported by the ministry of justice, VKI estimate that in some cases the interest escalation clause can raise interest rates by several percentage points. The clause introduced by Bank Austria in 1997 entails a quarterly adjustment (rounding up to full one-eight of percent) of private credits to the key rates in the monetary and capital markets. VKI has approached also other banks, but Bank Austria would not amend its credit conditions. Erste Bank is to meet the consumer organisation's demands.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2001
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AUSTRIA: AGREEMENT ON BROADBAND INTERNET ACCESS
Article Abstract:
Under an agreement with Internet Service Providers Austria (ISPA), Telekom Austria (TA) has agreed to make its asymmetric digital subscriber line (ADSL) infrastructure available to competitors of the former telephone monopoly from 1 June 2000. So far the ADSL service has been available only through the Telekom subsidiary A-Online.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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AUSTRIA: TETRA LICENCE TO TETRACALL
Article Abstract:
The licence to run the digital trunked radio system Tetra in Austria has been awarded to TetraCall. The Vienna municipal utility Wiener Stadtwerke holds 50%, Siemens 45% and Frequentis 5% of TetraCall, which is paying more than Sch 66.5mn for the licence. Bidders included also Center and Walky Talky.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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