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

Manufacturing and Export Trade are Growth Driving Forces

Austria's export sector and the manufacturing industry will benefit in particular from the strong economy situation in Germany. The labor market continues being animated, particularly manufacturing industry-related areas.

November 5, 2010

Working Time Flexibility Prevented Mass Unemployment

During the crisis, many German and Austrian companies flexibilized the working hours of their employees. These measures helped to ease the labor market situation.

November 4, 2010

Strabag and Alpine Suspected of Cartelization

Damages for 2 billion euro (2.8 billion dollars) are said to be the result of forming a construction cartel for motorway construction in Slovenia.

November 3, 2010

AUA: Deficits Must Go

Austrian Airlines, bought in 2009 by German Lufthansa, are now working with profit at operational level. But restructuring of long haul routes is proving to be particularly difficult.

November 3, 2010

Raiffeisen Participates in Bid for Polbank

Raiffeisen International Bank (RBI) tries to get into the act concerning the sale of Polbank. The eighth largest bank in Poland is currently owned by EFG Euro Bank, which is offering its Polish interest for sale.

November 3, 2010

Contract for Kapsch TrafficCom in Poland

The consortium led by Kapsch came out as the best bidder for the implementation of a toll system on Polish motorways. The contract has been signed now.

November 3, 2010

Hypo-Group Changes Board of Austrian Subsidiary

Hypo Alpe Adria makes new appointments to the Executive Board of the Austrian banking subsidiary Hypo Alpe-Adria-Bank AG.

November 2, 2010

Andritz Acquires RITZ Pumpenfabrik, Germany

International technology Group ANDRITZ has signed a contract to acquire the German company RITZ

November 2, 2010

A-Tec: Banks Working on Counter-Proposal

After the fruitless negotiations, the banks plan to draw up a counterproposal. In addition, a British investor is showing interest in joining.

October 30, 2010

New Retail Project in Constanta for Immofinanz

A new center located in Constanta, Romania, offering international tenants business opportunities in 130 retail units, will be opened in 2011.

October 30, 2010

RHI: New Boss Wants to Double Profits by 2015

RHI pursues ambitious growth plans. Higher sales and profits are to be generated mainly through expansion in emerging markets.

October 29, 2010

Hungarian Railway Workers Strike Against Rail Cargo

Due to employee layoffs at Rail Cargo Hungaria, the employees threaten to go on strike. Rail Cargo suffers losses both in Austria and in Hungary

October 27, 2010

Financing of OMV-Deal in Turkey Still Open

OMV leaves the financial markets still in the dark as to how it will cope with the acquisition.

October 25, 2010

Deripaska Again at Strabag

After Deripaska’s decision, and successful talks with Strabag boss Haselsteiner, the Russian oligarch is a partner in the construction group again.

October 25, 2010

Large Power Plant in Turkey: Verbund concludes Joint Venture

With an investment volume of 550 million euro, the Verbund operates together with its Turkish partner Sabanci Holding, a gas-steam power plant.

October 25, 2010

OMV: Complete Takeover of Petrol Ofisi Fixed

The deal is finished. Turkey will be the third main market for the OMV group.

October 22, 2010

KTM is Back Again

With a surprisingly positive quarterly result, the motorcycle manufacturer KTM shows its old strength. All expectations have been exceeded.

October 22, 2010

Switzerland: Pecik and Stumpf Ransom Themselves

While the two investors paid a fine for the case Sulzer, the case Oerlikon is still not finished.

October 21, 2010

Vienna International Airport: Business With Low-Cost Carriers booms.

A significant portion of Vienna International Airport’s sales are achieved with low-cost airlines. The airport's boss wishes a more extensive partnership with the Bratislava location.

October 21, 2010

OMV Plans Complete Takeover of Petrol Ofisi

OMV and Doğan Holding are in detailed negotiations regarding an acquisition of Dogan Holding’s stake in Petrol Ofisi by OMV

October 20, 2010

The Next Acquisition: STRABAG Buys Gaul-Group

The German Gaul-group, a regional market leader for construction materials, has been bought by STRABAG for strategic reasons.

October 20, 2010

Booming Tourism: Aeroflot Pressure on Austria's Airports

New routes of Aeroflot subsidiaries to Austria are created due to the growing flow of Russian guests.

October 20, 2010

bwin Notifies Merger with PartyGaming to Competition Authority

Transfer to the London Stock Exchange is bad news for the Viennese financial center. The merger will create the world's biggest betting provider.

October 20, 2010

AUA: Licenses in Russia Expire

Austrian Airlines are worried about the landing and overflying rights in Russia. If there is no extension, there is a threat of higher costs.

October 20, 2010

Wienerberger Signs Agreement to Acquire Steinzeug Abwassersysteme

Planned acquisition of worldwide market leader and Europe’s largest producer of clay pipe systems

October 20, 2010

Austrian Airlines Loses Swiss Destination

As the St. Gallen-Altenrhein airport in eastern Switzerland will operate its own airline, AUA will no longer fly to this airport

October 19, 2010

Verbund´s Subsidiary Sorgenia Achieved Higher Profits

Net income climbed during the first three quarters to 57.6 million euros

October 19, 2010

Tax Evaders Targeted by the Ministers of Finance

Budget problems plague the majority of EU countries. In addition to budget discipline, the prosecution of tax evaders is to be addressed.

October 18, 2010

Do & Co Expands Rapidly in Turkey

After the successful expanion with Turkish Airlines, Do & Co plans to enter the event-catering market

October 18, 2010

Hypo-Group: Bavarian Lawsuit Against Carinthia

The balance sheet of the Hypo Group -nationalized in 2009- was artificially inflated, according to the accusation from Bavaria.

October 18, 2010

Supervision of Banks: Austria and Russia Intensify Cooperation

A Memorandum of Understanding just signed facilitates cooperation in banking supervision between the two countries.

October 18, 2010

Strabag Expands its Competence in Bridge Building – New Order in Poland

Strabag SE, a large construction company in Central and Eastern Europe, signed an agreement to build a new bridge complex in Toruń, Poland.

October 18, 2010

Austrian Post Cooperates with Swiss Post

The two companies plan a joint venture to bundle international activities in the field of addressed advertising mail.

October 15, 2010

Production of BMW X3 Shifts From Styria to USA

In Graz, where the BMW X3 has been manufactured until now, production will focus on Minis.

October 14, 2010

OeNB Governor Nowotny Contradicts the Deutsche Bundesbank

"The ECB should not give up purchasing bonds". Although the bond purchase program of the ECB was not needed in recent weeks, Nowotny wants to go on having it "in reserve”. The German Bundesbank warns of a too late withdrawal.

October 13, 2010

Kotányi: Sales in Russia Exceed 20 Million Euro

The Lower Austrian herb and spice producer expects sales in Russia for over 20 million euro this year.

October 12, 2010

Slovakia: Changes in Automobile Production Trend

Manufacturers operating in Slovakia invest again. Total production in 2010 may reach over half a million vehicles. An opportunity for foreign suppliers.

October 12, 2010

RZB Group Tatra banka among Lead Managers for Slovak Republic EUR 2 Billion Benchmark Bond

Tatra Banka (RZB Group), HSBC, SG CIB and UniCredit Bank Slovakia placed a Slovak Republic issue with a maturity of fifteen years.

October 11, 2010

Chip Manufacturer Infineon: Revalorization of the Development Center Graz

The German chip maker based in Villach is bundling competencies. All future research on tire pressure sensors will be made at the Infineon Development Center Graz with 250 employees.

October 8, 2010

Austria is Getting More Popular Among Arab People

Arab tourists find Austria increasingly pleasant. So far this year, the number of arrivals between January and August grew by 21% to 91,600 as compared to the same period of the previous year.

October 8, 2010

Bratislava: Investment in Slovak 'Las Vegas' in Danger

Bratislava might lose the planned amusement park "Metropolis", with an investment amount of 1.5 billion euro, if the Slovak government revokes the already approved tax concessions.

October 7, 2010

Zumtobel Closes Loss-Making Plant Space Cannon in Italy

Zumtobel, the shareholder of the company Space Cannon VH SRL, based in Fubine (Piedmont), a specialist in façade and event lighting and a member of the Zumtobel Group, has filed for liquidation.

October 7, 2010

Zumtobel Opened Light Center in Shanghai

More than 120 architects, designers and business partners enjoyed the Zumtobel opening gala for the new Light Center in Shanghai.

October 7, 2010

Qualified Workforce: Austria’s Target is to Attract Skilled Immigrants

ÖAAB General Secretary Lukas Mandl: "Germany has long been an immigration country. Austria also has to become one. Austria’s target should be to attract skilled immigrants, after identifying the needs."

October 6, 2010

AVL Opens Battery-Testing Lab in Shanghai

With the opening of its battery laboratory at AVL Shanghai Tech Center in China, the company has taken a further visible step on the path toward powertrain electrification in the area of battery development.

October 6, 2010

Schoeller-Bleckmann Acquired Dubai Based Special Tools Provider

Schoeller-Bleckmann Oilfield Equipment AG (SBO), listed on the ATX market of the Vienna Stock Exchange, has successfully completed acquisition of Drilling Systems International Ltd. (DSI).

October 5, 2010

Alpine: New 140 Million Euro Motorway Contract in Poland

The construction company from Salzburg is to build an 18-kilometer motorway section for almost 140 million euro.

October 5, 2010

Doppelmayr: Major Contract from San Francisco for 121 Million Euro

After major orders for its cable car system for Las Vegas and Venice, the cable car technology group from Vorarlberg now also got on track in the greater San Francisco area with the largest order in the company’s history.

October 5, 2010

OMV: Gas Reservoir Found in Southern Tunisia

OMV has been successful again in southern Tunisia. "The two additional findings are of economic and strategic importance and round off the success of the present OMV-drilling campaign, with a total of nine strikes in a row."

October 4, 2010

Kapsch TrafficCom: Polish 1.24 Billion Euro Contract for Truck and Bus Toll System

The company listed in the Vienna Stock Exchange will build up the entire toll system for trucks and buses weighing over 3.5 tons on Poland's roads for July 2011.

October 4, 2010
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