Austrian economic news in a flash - 26 November 2010

Insurer Uniqa said its pretax profit soared 142.7% to EUR 103m in the first nine months of 2010, despite being burdened by EUR 98m from the bank tax in Hungary. Premium income grew 10.2% to EUR 4.7bn. The company raised its full-year pretax profit forecast to EUR 135m.
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Motorcycle maker KTM Power Sport AG said it expects EBIT of between EUR 28m and EUR 29m for full 2010/11, up from EUR 22.4m a year earlier. The growth will be because of improved business development in October and September.
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Vienna Insurance Group said it has closed the full takeover of Dutch TBIH. VIG first bought into TBIH in 2006.
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Hotel group Vienna International said it expects revenues of some EUR 180m for full 2010, up from EUR 134.8m for 2009. The utilisation at all hotels is extremely good, a spokesperson told APA news agency.
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The Turkish antitrust authorities have approved the takeover of local Petrol Ofisi by oil and gas group OMV. However, further green lights are still pending, OMV said.
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Catering company Do&Co has set the issue price for its current capital hike at EUR 21.90 apiece, expecting to raise about EUR 40m from the transaction. The shares will be listed on the Istanbul stock exchange and will widen the firm's free float to 47% from 19%.
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Raaba-based machinery group AE&E Austria GmbH & Co KG, part of insolvent A-Tec, has also filed for insolvency. The company's liabilities are estimated at EUR 227m and it has assets of EUR 119m. The insolvency will affect around 600 suppliers and 376 employees. The insolvency proceedings were opened on Friday. AE&E Austria has enough funds to continue operating for the next 90 days and currently talks with three interested buyers are currently being held.