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Vienna's Foreign and Bilateral Relations
Read the latest headlines about bilateral relations in the areas of economy, business, diplomacy, culture and tourism between Austria and its partners
VBAG´s CEO: „Bank Aid Only Last Exit“
Gerald Wenzel, chairman of VBAG´s executive board, continues the downsizing strategy. A new bank aid would be the “ultima ratio”.
February 17, 2012
Porr Takes over German TKDZ
The Austrian construction group takes over Trierer Kalk-, Dolomit- und Zementwerke (TKDZ) in Wellen.
February 17, 2012
Moody's Considers to Downgrade Wienerberger
The U.S. rating agency placed all ratings of Wienerberger under review for possible downgrade.
February 17, 2012
Siegfried Wolf Enters Sberbank
The Austrian national and executive at Magna in Russia becomes President of VBI´s supervisory board.
February 16, 2012
Vienna Stock Exchange Cooperates With Eurex
With Eurex derivatives exchange, Vienna Stock Exchange wins a new customer.
February 16, 2012
Agrana Expands in Russia
The Austrian fruit and starch company invests € 27m in a factory site in Russia.
February 16, 2012
CA Immo: PwC Leased Additional Space in Frankfurt's Tower 185
Space leased of Frankfurt´s tower 185 increased to 75%. The consulting company leased another 2,800m2.
February 16, 2012
Conflict Between AUA´s Management and Staff Escalates
2,300 employees of Austrian Airlines are endangered to be forced to switch to another collective agreement. AUA hopes to reach an agreement.
February 15, 2012
VBI Sale to Sberbank Finalized
With the sale of the CEE segment of the Austrian VBAG, Russian Sberbank enters Eastern Europe.
February 15, 2012
Austerity Package Brings Burden of € 900m for Companies
The Austrian austerity package causes costs of € 900m for the Austrian real economy until 2016. Especially non-wage labor costs rise.
February 14, 2012
„Financial Transaction Tax Could Cause Recession“
According to the CEO of Vienna Stock Exchange, Michael Buhl, a financial transaction tax would cost productivity at enterprises.
February 14, 2012
Russia: Great Demand for Austrian Food
Due to rising purchase power of Russian households, Austrian food exports to Russia are booming. In 2012, the Russian retail trade sector is expected to grow by 15%.
February 14, 2012
Moody's Put Austria on Warning
The Austrian “AAA” rating has been confirmed by the U.S. rating agency. However, credit-watch is put on “negative”.
February 14, 2012
Rising Profits and Sales at Fabasoft
The Austrian software producer announces preliminary figures for the first nine months of the fiscal year 2011/2012.
February 13, 2012
AUA: Resistance of Workforce Could Be Given Up
After serious warnings of the management of Austrian Airlines, the works councils are ready to talk about new collective agreements.
February 11, 2012
Gazprom to Double Natural Gas Reserves in Europe
The Russian natural gas supplier Gazprom intends to improve supply security in Europe. Gas reserves in Austria should be extended too.
February 10, 2012
Lufthansa to Bundle Operations
In order to achieve the austerity targets, Lufthansa centralizes operations. Austrian Airlines is highly affected.
February 10, 2012
Sale of Brixlegg Concluded
The former copper-division of the insolvent Austrian A-Tec Group has been sold to the Swiss Umcor AG.
February 10, 2012
Shortage in Energy Supply: Austria Helps Germany Out
In Germany, wind power plants record a decrease in energy production. German energy suppliers called for Austrian electricity.
February 9, 2012
AUA to be Re-Sold?
Rumors on Austrian Airlines do not end. A sale by Lufhansa is discussed, even the insolvency is not excluded.
February 9, 2012
Problems on European Level as Burden for Austria
Over the last months, the European economy lost its impetus, which is a major burden for the Austrian economy.
February 9, 2012
Moderate Rise in Passengers at AUA
Austrian Airlines traffic result for January 2012: 7.1 percent increase in Passenger Volume. European traffic rose slightly stronger.
February 9, 2012
Schlecker: „Austria Remains Independent“
The insolvent German chemist chain underlines that ist Austrian subsidiary is „definitively not affected“ by the insolvency proceedings.
February 9, 2012
Major Offer for Vienna International Airport by Petrus Advisers
The London-based real estate company made a € 450m offer to VIA. However, the demanded property is not for sale.
February 8, 2012
Keuschnigg to Succeed Felderer
Christian Keuschnigg will succeed Bernhard Felderer as director of the Austrian Institute of Advanced Studies (IHS) in June.
February 8, 2012
Growing Nerviness at AUA´s Workforce
The workforce at Austrian Airlines feels uncertainty. Even a bankruptcy is feared.
February 8, 2012
Vorarlberg Invests Massively in Renewable Energy
The Austrian province aims for enlarging renewable energy production together with the South-German energy group EnBW. Investments total € 600m.
February 7, 2012
Still Capital Requirement at Kommunalkredit
The „bad bank“ of the nationalized Austrian bank, KA Finanz, receives € 190m by the Austrian state. Moreover, another € 600m are needed in the first half of 2012.
February 7, 2012
Zielpunkt Gets New Owner
MBO at the Austrian supermarket chain: CEO Jan Satek takes over the company and wants to focus on local supply.
February 7, 2012
Austrian Government Debt Quota Declining Slightly
Euro area government debt down to 87.4% of GDP in the third quarter 2011 compared with second quarter 2011.
February 6, 2012
Mitterlehner: „Shortages in Russian Gas Supply Not Dangerous“
For The Austrian Minister of Economics, Reinhold Mitterlehner, the sudden cut in Russian natural gas supply is “no dangerous scenario”.
February 6, 2012
Pecik Aims for Reaching Blocking Minority
The Austrian investor Ronny Pecik intends to re-organize the supervisory board. Nevertheless, operating functions are not targeted.
February 4, 2012
Palfinger to Enter China in 2012
The Austrian crane manufacturer plans to enter the Chinese market in the first half of 2012. China will become the biggest market for Palfinger, says CEO Ortner.
February 4, 2012
Palfinger: Rise in Sales and Profits Expected
Tomorrow, the Austrian crane manufacturer Palfinger presents figures for the financial year 2011. Sales are estimated to grow by 30%, net results should reach € 40m.
February 2, 2012
Trade Unions: „Schlecker Austria Depends from Germany“
For the Austrian trade unions, talks with Schlecker Austria´s management are “acceptable”. An all-clear would be difficult.
February 2, 2012
Shortened Natural Gas Supply from Russia
The Austrian oil and gas group OMV reports that Russian natural gas exports only reach 70% of its normal level.
February 2, 2012
Coca Cola Closes Viennese Site
For cost reasons, the U.S. soft drink producer shifts production from Vienna to Burgenland. 80 employees will be laid off.
February 2, 2012
BDI Receives Major Order from USA
Austrian BioEnergy obtained order for retrofitting a U.S.-based biodiesel plant.
February 2, 2012
Kommunalkredit Downgraded by Moody´s
The U.S. rating agency downgraded Kommunalkredit Austria to Baa3.
February 2, 2012
OMV: „No Shortage in Natural Gas Supply“
Russian media reported on natural gas supply reductions for Europe. Gazprom denies, OMV refers to large natural gas reserves.
February 1, 2012
Major Order from Costa Rica for Andritz
The Austrian technology group Andritz was awarded a contract by the Institute of Electricity of Costa Rica.
February 1, 2012
RBI Structures Credit Facility for Chinese Company
Austrian Raiffeisen Bank International (RBI) finances delivery of the plant by Andritz-Group for Chinese Ganzhou.
February 1, 2012
Schlecker Austria Will Not Be Sold
The German chemist chain gives the all-clear. The Austrian subsidiary is not affected by the insolvency of the group.
February 1, 2012
Support for AUA´s Management
Christoph Leitl, President of Austrian Chamber of Commerce (WKÖ), shows support for the management of Austrian Airlines.
January 31, 2012
Uncertain Future of Schlecker Austria
After the insolvency of the German chemist chain, experts consider that the Austrian subsidiary could be sold.
January 31, 2012
Austria Still With Lowest Unemployment Rate in EU
Euro area unemployment rate stands at 10.4%. Austria has second-lowest youth unemployment rate.
January 31, 2012
FPÖ Wants Cuts in Spendings
The biggest Austrian opposition party suggests reducing public expenditures in order to reduce the budget deficit. Chairman Strache calls for a “subsidy brake”.
January 30, 2012
VKB Records Rise in Results
The regional bank VKB´s operating result improved by 9.0%.
January 28, 2012
AUA: Resistance Forms Up
Austerity plans by Austrian Airline´s new management faces massive resistance. The dispute with employees threatens to escalate.
January 27, 2012
Austrian Trust in Euro Decreases
Austrians became more skeptical to the common currency. Analysts see a “crisis of confidence”.
January 27, 2012
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