Austrian economic news in a flash - 26 October 2010

Wilhelm Rasinger, the president of Austrian shareholders protection association IVA, said that the minority shareholders of Raiffeisen International will object in court the merger with parent Raiffeisen Zentralbank. He told paper Die Presse that the shareholders were unsatisfied with the exchange ratio for their shares in the new merged entity.
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austriamicrosystems, or AMS, said its third-quarter sales grew 41% to EUR 55.7m. The company turned an operating profit of EUR 9.2m, compared to a loss of EUR 0.2m. The company raised its forecasts for full 2010.
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Austrian aviation association criticised the planned flight tax as of January 1, 2010, saying the proceeds of it will be used for fill-up of budget gaps. The government plans to use the EUR 60m proceeds per year from the new tax for environmental projects. According to the association, the plan may cost around 400 jobs in the sector.