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

Swiss Expert Criticizes Austria’s Role in International Money Laundering

OECD expert: “Austria is used as a gateway for international money laundering. It is doing too little to fight the phenomenon.” Only twelve convictions were made in 2009.

May 26, 2011

Alpine Lands Pipeline Project in Czech Republic

The Austrian construction company is going to build 105.8 km of a new gas pipeline. The contract value is € 76.7m.

May 26, 2011

OMV: New CEO and Organizational Structure of Its Turkish Operations

Gülsüm Azeri is going to succeed Melih Türker as CEO of the Austrian oil and gas group’s Turkish operations.

May 25, 2011

France Telecom Evaluating Its Activities in Austria

The future of Orange Austria could be decided before October. The cooperation in networks might have been the first step towards a merger with T-Mobile Austria.

May 25, 2011

Alpine to Build Motorway in Romania

The Austrian construction company is going to build a motorway section for € 91m within a period of 22 months.

May 24, 2011

CA Immo Sold Two Shopping Centers in the Czech Republic

The Austrian real estate group and a Czech investor agreed on the sale of two malls for an amount of € 96m.

May 24, 2011

Novomatic Returns to Russia

The Austrian gaming machine manufacturer intends to cooperate with a Russian casino operator after it had to pull out of the country in 2009.

May 23, 2011

Strabag Takes Majority Stake in Project Companies for Offshore Wind Power Plants

The Austrian construction company acquires a 51% interest in a project portfolio with possible 850 locations in the German North Sea.

May 23, 2011

FACC: New Production Plant in China

The Austrian aircraft component manufacturer is planning the construction of a new site and considering going public soon.

May 23, 2011

Cheuvreux Closing Its Office in Vienna

The French investment bank is closing down its office in Vienna after three years. This has been confirmed by analyst Alfred Reisenberger.

May 20, 2011

Austrian Companies Are Looking for Opportunities in Russia

A delegation of 140 people pursues contacts with potential partners during the state visit of President Fischer. The country’s economy is predicted to grow by 4% in 2011.

May 19, 2011

Kärntner Sparkasse Planning Partial Pull-Out of Italy

The Austrian regional bank intends to close a part of its Italian branches. The credit business has suffered from the crisis; the future focus will be on deposits and private banking.

May 18, 2011

Austrian FDI: 2010 Was a Year of Stabilization

Active foreign direct investment increased, while inward flows stagnated in 2010. Turkey was the top destination for Austrian investors.

May 18, 2011

CEO of BWT Increases Control Over His Group

Andreas Weißenbacher increased his share in BWT to now 26.2%. He also controls 37% of German WMF. Both companies improved their results in 2010.

May 17, 2011

OMV Announces Launch of Rights Issue

The Austrian oil and gas group issues up to 27,272,727 new shares. Proceeds will be used for the refinancing of the acquisition of a major stake in Petrol Ofisi.

May 16, 2011

Bank Austria Invests in the Turnaround of its Kazakh Subsidiary

Bank Austria increases ATF’s capital in order to make it profitable. Loss in the year 2010 amounted to € 163m.

May 16, 2011

EPIC Completes the Acquisition of UkrTelekom

The Austrian financial investor purchases 92.79% of the Ukrainian telecommunications company for € 921m.

May 16, 2011

Leitl: "Reforms, Despite the Positive economic Outlook Should Not Be Forgotten"

Spring forecast by the EU Commission: Clearly improved growth prospects for Austria and the European Union

May 14, 2011

Habau Takes Over Dutch Construction Company

The Austrian construction company takes over the globally active pipeline specialist Nacap and increases sales by € 600m to € 1.4bn.

May 13, 2011

New Inspections at voestalpine Subsidiary

The German Federal Cartel Office today made new inspections at a local subsidiary of the Austrian steel company.

May 12, 2011

German IVG is also Active in Austria Now

IVG Immobilien AG (IVG), the largest German real estate fund company, acquired the Austrian Hypo Real Invest in January 2011, changing its name to IVG Austria AG, with headquarters in Vienna.

May 12, 2011

Romania Offers Export Opportunities for Austria's Environment Industry

18 top Austrian companies active in the areas of environmental technology and renewable energies are present in Bucharest.

May 12, 2011

Immofinanz Closes Acquisition in Moscow

The Austrian real estate group takes over 100% of the GoodZone.

May 11, 2011

Inspections at German Subsidiary of voestalpine AG

Inspections by German Federal Cartel office at voestalpine Klöckner Bahntechnik GmbH.

May 11, 2011

WIFI International: Partnership with TOBB University of Ankara

The Austrian (WKÖ) and the Turkish (TOBB) Economic Chambers have signed a Letter of Intent for an educational partnership with WIFI.

May 11, 2011

Siemens Manufactures Parts for a New Train Generation in Graz

Siemens manufactures components for 130 new trains for the Deutsche Bahn (DB-German Railways) until 2030 in Graz. The contract is worth € 6.0bn.

May 11, 2011

Bosch Group Continues Growing in Austria

Bosch has had a good start in Austria in its anniversary year 2011 and continues having favorable growth prospects. Sales rose by 9%.

May 11, 2011

Radovan Jelasity appointed CEO of Erste Bank Hungary

Radovan Jelasity (43) will join Erste Bank Hungary as of 1 June 2011. Subsequent to the approval of the respective Hungarian authorities, he will be appointed Chief Executive Officer (CEO).

May 10, 2011

Austria's Energy Industry Considers the U.S. as a Promising Market

The U.S. market offers opportunities for Austrian technology in solar systems, pellet stoves, biogas, biomass and software to control wind turbines

May 10, 2011

RBI Joint Bookrunner for € 1.75bn Bond

The bond, which is issued by Banca Monte dei Paschi di Siena, is the second largest EUR-denominated senior unsecured issue by an Italian bank in 2011

May 10, 2011

Oracle Partners with Linz University

The U.S. software giant opens a research laboratory at the Johannes Kepler University in Linz.

May 10, 2011

Raiffeisen International Bank Intends to Get Further Involved in Poland

After the purchase of the Polbank in February, the Austrian RBI seems to be interested now in the Polish DZ Bank. Its chances are however considered to be low.

May 10, 2011

Atrium Strengthens Polish Portfolio

Atrium European Real Estate announces that it has completed the acquisition of the Promenada Shopping Centre (“Promenada”) in Warsaw, Poland for €171 m from Carpathian PLC.

May 9, 2011

Infineon Makes an Investment for € 200m in Austria

The German technology group has announced that it intends to create 400 new jobs in Austria. The semiconductor production is to be expanded.

May 7, 2011

BDI Receives Major Order in Germany

Enbasys GmbH, a subsidiary of BDI-BioEnergy International AG receives a million-dollar contract with the biogas facility for the German SARIA-Rethmann Group.

May 6, 2011

Austria's Solar Industry Strives For Technological Leadership

The domestic solar energy industry calls for more research funding to ensure the continuation of success achieved also into the future.

May 4, 2011

Leitl: "Austria was the Largest Investor in Turkey in 2010"

WKÖ President Leitl pointed to the intense economic links between the two countries during the state visit of Turkish President Abdullah Gül to Austria.

May 4, 2011

Immofinanz Strives for Presence in Russia

The Austrian real estate group plans to expand its activities further through the purchase of shopping centers in Moscow.

May 3, 2011

VIG Re: Significant Improvements in Results

The premium volume of the Czech subsidiary of the Vienna International Group rose by 9.1% to € 280.6m.

May 3, 2011

Tondach Gleinstätten is Awarded Exclusive Contract in Russia

Tondach Gleinstätten AG is awarded the contract for the supply of roofing materials for the Olympic project "Sochi 2014”

May 3, 2011

S&T Announces Group Results - Down in the Red

Consolidated revenues of the S&T Group in 2010 amounted to € 351 m, down from € 385 m in the previous year.

April 30, 2011

voestalpine Awarded Major Contract in London

20.000 tons of pre-cut heavy-plate shapes from Linz, Austria, for windpark near London. Offshore wind tower project saving up to 560,000 tons of CO2 emissions.

April 30, 2011

Doppelmayr Scores € 105m Contract

Doppelmayr Italia GmbH was awarded the contract for the construction of the new ropeway on the Mont Blanc.

April 29, 2011

WKÖ Considers Nevada as Optimal Trading Partner

Nevada is diversifying towards renewable energies: huge opportunities for Austrian companies are expected.

April 29, 2011

Austria´s Economy Performed Better than EU-average During Crisis

The Vienna Institute for International Economic Studies (wiiw) has just published a study, which quantifies trade-related transmission mechanisms of the global drop in investment demand and output to recession in Austria.

April 28, 2011

Vienna Insurance Group Launches new ADR Programme in the US

The Vienna Insurance Group AG Wiener Versicherung Gruppe is grouping the independent American Depositary Receipt (ADR) programmes.

April 28, 2011

OMV Starts Operations in Tunisia

El-Badr-5 is the first OMV operated production well to go into operation with a production of 1,500 boe/d. Durra production concession has been granted. Both assets were part of the Pioneer portfolio acquired earlier this year.

April 27, 2011

Erste Group: Slight Increase in Profits Expected

UniCredit and RCB expect a slight rise in profits for Erste Group, despite bank taxes in Austria and Hungary.

April 27, 2011

"Austria has Lost its Chance"

The labor market opening of Austria for the more recent EU member states comes too late, according to the manufacturing industry.

April 27, 2011

New High for Austria´s New Indebtedness

Austria´s budget deficit for 2010 is at 4.6%, which is the highest one in the last 15 years. However, the average of EU-countries is even higher.

April 27, 2011