Austrian economic news in a flash

(The most important economic news in Austria from 01 October)

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Troubled PC game developer JoWooD Entertainment AG plans to cut its capital seven times in order to cover expected considerable losses for H1 2010. Thus, the capital will be reduced to EUR 2.74m from EUR 19.15m currently and the nominal value of every share to EUR 1 from EUR 7. The move will have to be approved by the shareholders of the company on November 9. The management will also seek green lights for the issue of convertible bonds and for an increase of the reduced capital by up to 50%. JoWooD plans to issue its delayed H1 2010 figures by the shareholders' meeting.
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Builder Strabag has received a contract for the extension and renovation of the Taeby Centrum shopping centre in Stockholm. The order value is in the three-digit million euro range. 
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Air Liquide will invest EUR 15m in the building of a plant for conversion of CO2 into liquid at Agrana's site in Pischelsdorf. The facility will process 100,000 tonnes of CO2, which will be then used as raw material for the food and cosmetics industries.
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Online bookmaker Bwin will start offering horse-racing bets and will provide up to 300 races from Europe, Canada and USA per day.
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The number of new car registrations in Austria rose 6.3% on the year to 28,215 in September 2010. The number increased 1.6% to 251,560 in the first nine months of 2010, Statistik Austria said.
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Austria's public debt stood at EUR194.3bn at the end of June, or 69.9% of the country's gross domestic product (GDP). The debt increased by EUR 4.9bn compared to a year earlier, Statistik Austria estimated.