Austria's top economic news - March 28

Bank Erste Group will remove its "S" logo from its corporate brand in the second quarter of the year. The "S" letter has stood as a symbol for the country's savings banks. The move is due to a legal dispute with German DSGV.
*
Martin Schlaff, who owns around 30% in refractory material maker RHI, is said to be planning to divest his shareholding to Brazilian Magnesita Refractories SA, weekly trend reported. RHI and Schlaff's spokesperson however rejected the report.
*
Technology group Andritz has received a large-scale order in Canada. The EUR 110m order concerns the delivery of equipment for the Mica hydropower plant.
*
Verbund's Turkish joint venture, Enerjisa, has opened its first hydropower plant. The facility, with capacity of 142 MW, will produce electricity of 372 GWh per year. The plant's total investments stood at EUR 120m.
*
C-Quadrat Investment AG said its 2010 income went up 76% to EUR 66.5m. The net profit soared to EUR 15.3m from EUR 5.7m. The dividend proposal will stand at EUR 2.21 per share, up from EUR 0.60 for 2009.
*
C-Quadrat Investment AG will launch a share buyback programme on April 1 and June 10. The company plans to buy back up to 100,000 own shares, or 2.3% of the stock capital. The treasury stock may be used for acquisitions and for stock option plans.