Read the latest headlines about bilateral relations in the areas of economy, business, diplomacy, culture and tourism between Austria and its partners
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Vienna's Foreign and Bilateral Relations

Bulgaria: EVN Thermal Power Plant Almost Completed

The project of the Lower Austrian energy company EVN in Bulgaria will go into operation still this year.

March 17, 2011

Bawag: Successful Return to Profitability

The Austrian bank, which is held by the American Cerberus fund, achieved a profit of € 125m in 2010.

March 17, 2011

Opportunities for Austrian Medical Technology in the UK

An Austrian study showed Austrian buinesses the opportunities offered by the British market: Austrian exports increased by 15% in 2010.

March 17, 2011

Good Prospects for Kärntner Sparkasse

The regional bank was able to improve its operational result significantly last year. But Slovenian results still hinder profits.

March 16, 2011

VBI: Romania Remains a Weak Point

The foreign holding of the Austrian Volksbanken group has to cope with credit risk provisions for € 160m from its Romanian subsidiary.

March 16, 2011

Bwin & Party Gaming: Merger Plan Requirements now met in Austria

Merger between Austrian bwin Intereactive Entertainment AG and British PartyGaming planned to complete on 31 March 2011.

March 16, 2011

Lenzing: Demand is Greater than Capacity

The Upper Austrian pulp producer finds it difficult to cope with the growing demand. Further works are planned.

March 15, 2011

AMAG: € 170m Special Dividend before IPO

The owner of the Austrian metal company will sell 60% to 80% of the shares. Moreover, a capital increase is planned.

March 15, 2011

RLB Upper Austria Intends to Grow in Russia

The regional bank Raiffeisenlandesbank Upper Austria (RLB) purchased a 2.95% share in the South Russian Krayinvestbank in Krasnodar.

March 14, 2011

EPIC: Acquisition of Ukrainian Telekom is arranged

The purchase of the Ukrainian Telekom company by the Viennese financial investor EPIC has been completed. The purchase price is € 946m.

March 12, 2011

Case IH: Increase in Tractor Production

The American company which produces tractors in Austrian St. Valentin, plans to expand its capacity massively.

March 12, 2011

Österreichische Kontrollbank: "There are no Failures to be Feared"

Despite the unpredictable political and economic consequences of the turmoil in the Arab, OeKB Member of the Board Rudolf Scholten consideres that there will be no failures.

March 12, 2011

FACC is Considering Going Public in Asia

The Austrian aircraft component manufacturer could soon be listed on the stock exchange in China.

March 11, 2011

AWO Presents Business Opportunities for Austrian Companies in China

Big opportunities in consumer goods & lifestyle, plastics and automotive industries were informed in Vienna, Linz and Graz by Außenwirtschaft Österreich (AWO, Foreign Trade Austria).

March 11, 2011

Orange: Customer Growth and More Profits

The French telecommunications company in Austria managed to increase its profits in Austria despite falling sales.

March 11, 2011

Škoda Increases Efficiency with S&T

The Austrian software company concluded a new IT-system for the Czech car manufacturer.

March 11, 2011

Lack of Venture Capital for Austrian Companies

The Ministry of Economy considers providing funds for start-ups. The Israeli concept serves as a model.

March 10, 2011

Leitl Favors EU Financial Transaction Tax

The President of the Austrian Economic Chamber says: "The EU Parliamen has taken an important step towards EU financial transaction tax"

March 10, 2011

Immofinanz: New Tenants for Romanian Procect

The Austrian real estate group wins attractive international brands as tenants of its Romanian Maritimo Shopping Center in Constanta.

March 9, 2011

Leitl: "Austria Continues as Top Investor in Bulgaria"

Bulgarian President Parvanov for economic talks at the WKÖ: Foreign trade volume between Bulgaria and Austria amounts to € 900m.

March 9, 2011

Austria's Construction Industry Expects Stagnation

In an interview with the newspaper "WirtschaftsBlatt", the CEO of the Porr construction company, Karl-Heinz Strauss, describes his prospects for the local construction industry.

March 8, 2011

Major Order from China for Emco

The A-Tec's subsidiary Emco has receaved an order from China for € 7m.

March 8, 2011

Zumtobel: New Light Center in Dubai

The lighting company based in Vorarlberg, Austria, is multiplying its competences in the Middle East. The Dubai Light Center aims to present realistic solutions for professional interior lighting.

March 8, 2011

Strabag: Takeover of Swiss Companies

Strabag becomes third-largest construction company in Switzerland with acquisition of Brunner Erben and Astrada. Output increases up to € 615m.

March 8, 2011

Magna Europe in Euphoria

The Austrian-Canadian automotive supplier intends to increase car production significantly.

March 6, 2011

Danone Reports € 63m of Sales

The French producer of dairy products realizes € 63m of sales in Austria. Danone intends to extend its product line with organic products.

March 5, 2011

Hardly any Effects Expected by Labor Market Opening

As of May 1, 2011, the citizens of the countries which joined the EU in 2004 will be able to work in Austria without any restrictions. The effects should be kept within certain limits.

March 4, 2011

Economic Policy: Criticism of Berlin, Praise for Vienna

The leader of the German Left Party, Gregor Gysi, says that Vienna has lead a better economic policy after the fall of the Soviet bloc than Berlin.

March 4, 2011

Allianz Austria’s Profits Jump

The result of the German insurance group in Austria was able to increase despite premiums falling by 2.9% to € 53.7m.

March 4, 2011

Sales Declining at Spar Hungary

The food trade chain records declining sales in Hungary - for the first time in its history.

March 4, 2011

Volkswagen Acquires Automobile Trading Business of Porsche Holding Salzburg

Next major step towards the creation of the integrated automotive group of Volkswagen and Porsche

March 3, 2011

FPÖ Intends to Establish Itself as an Economic Party

In an interview with the "Wirtschaftsblatt", FPÖ chairman Heinz-Christian Strache says that the party wishes to address entrepreneurs more strongly in future.

March 3, 2011

Unemployment: Austria has Top-Position Among EU27

EU27 area unemployment rate at 9.9%, Austrian unemployment rate amounts to 4.3%. National youth unemployment is below the average too.

March 2, 2011

The Madoff Affair: Austria Gets Into the Focus of U.S. Authorities

In the course of the Madoff fraud case, an American legal assistance request has now been filed before the Austrian justice system. Austrian banking circles are involved.

March 1, 2011

Takeover of the Austrian Porsche Holding

The majority owner VW could soon take over the Austrian part of the Porsche Group. The price is € 3.3bn.

March 1, 2011

Stable Sales for Rewe Austria

The German food retail group was able to increase its sales moderately last year. The number of employees has increased.

February 26, 2011

Significant Growth for Borealis

The Austrian chemical company records substantial growth in sales. Profits grew from € 38m to € 333m.

February 26, 2011

VBI: Purchase by Sberbank is Looming

The sale of the Eastern European holding company of the Austrian ÖVAG is taking shape. Even Chinese investors are interested.

February 25, 2011

HEAD NV Announces Higher Sales

The Dutch/Austrian global manufacturer and marketer of sports equipment, announced the preliminary results today.

February 25, 2011

Leitl Fears Falling Back behind Asia

During a state visit to Singapore the President of the Austrian Economic Chamber (WKÖ) again urges the Austrian government to undertake reforms.

February 24, 2011

Leitl Demands More Support for SMEs

The Small Business Act must be also implemented at national level in a sustained way, says the President of the Austrian Economic Chamber.

February 24, 2011

Molterer Nominated as Vice-President of the EIB

Former Vice-Chancellor and Finance Minister Wilhelm Molterer is nominanted as candidate for Vice-President of the European Investment Bank (EIB).

February 23, 2011

Kazakhstan as a Chance for Foreign Trade

Austrian Economic Chamber promotes further development of economic relations with Kazakhstan.

February 23, 2011

WKÖ: "Clear Commitment to the Brenner Base Tunnel is Needed”

The chairman of the Austrian Economic Chamber considers the tunnel between Italy and Austria as a pioneering infrastructure project.

February 23, 2011

Agrana Expands in Russia

The Austrian sugar and starch company invests € 27.6m in fast-growing Russian market.

February 23, 2011

Southstream: Gazprom-OMV Cooperation

OMV and Russian Gazprom will work together on the construction of the Austrian part of the Southstream pipeline.

February 22, 2011

Record Sales for Würth Austria

The German supplier group recorded strong revenue growth. However, the operating result fell short of expectations

February 22, 2011

Austrian Economic Chamber in Singapore

The Austrian Economic Chamber’s delegation pursues contacts with potential partners during the state visit of President Fischer.

February 22, 2011

Knill Group Builds Factory in Russia for € 50m

The Austrian construction group records an order over € 50m for the establishment of the first optical fiber plant in Russia.

February 20, 2011

OMV Closes Acquisition of Pioneer’s Subsidiaries in Tunisia

OMV paid $ 800m plus $ 39.3m working capital and remains committed to maintaining a strong investment grade

February 19, 2011