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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
Kneissl: Insolvency Seems Inevitable
The traditional Austrian ski producer Kneissl, owned by the Arab investor Al Jaber, did not pay its mature liabilities for months.
January 3, 2011
Secret Foundation of BayernLB in Austria
In the hearings on the purchase of Austria's Hypo Group, a former Member of the Board of BayernLB concealed the existence of a foundation in Austria.
January 3, 2011
New Responsibilities for the Financial Market Authority
As of 2011, the Austrian Financial Market Authority (FMA) has to face new challenges. The focus is on the fight against money laundering.
January 3, 2011
Experts: No Failures in the Austrian Labor Market
The last hurdles for the new EU-members to enter the Austrian labor market will fall in May 2011. However, even the unions has no concerns.
January 3, 2011
VBI Romania is a Source of Worries for ÖVAG
Volksbank International (VBI) is to be sold by the Austrian Volksbanken Group. The Romanian subsidiary keeps the group from doing so.
December 31, 2010
Billion Worth Qatar Holding Explores Investment Opportunities
The Austrian economy expects closer relations and potential export opportunities as the result of the state visit of the Emir of Qatar.
December 30, 2010
Stronach Sells Shares to Magna
The founder and long-time Chairman of the board of the Austria-Canadian Magna Group, Frank Stronach, only holds 5.14% now.
December 30, 2010
Polytec Sells Italian Subsidiary
Today Polytec Holding AG signed an agreement to sell 100% of the shares of Polytec Composites Italia (PCI) to Industrie Metallvakuum Ranger S.p.a. (IMR).
December 29, 2010
Tourists from Russia Increase
The number of Russian guests in Austria continues on the rise. A double-digit growth might even be possible again.
December 28, 2010
Czech Railways Considers to Acquire ÖBB-Railjets
The Austrian Federal Railways doesn´t want to exercise its option to buy further Railjets from Siemens.
December 28, 2010
AUA has to Cancel Flight to the U.S.
Persistent snowstorms in the eastern United States, have forced Austrian Airlines to cancel a flight to New York, as local airports there are closed.
December 27, 2010
Economic Chamber Criticizes Import Control System
According to the WKÖ, Austrian businesses incur additional costs and bureaucracy by the import control system.
December 27, 2010
NXP Sells Sound Solutions Business
The major electronic company NXP moves to the Styrian Gratkorn. The former Philips-subsidiary has sold its division for speakers located in Vienna, Austria.
December 26, 2010
Merger Between Bwin and PartyGaming Finished
The common company, bwin.party digital entertainment, will be the world’s largest publicly listed online gaming provider.
December 24, 2010
Raiffeisen Negotiates over Polbank
The Austrian Raiffeisen Bank International (RBI) negotiates actively for the Polish Polbank.
December 23, 2010
Porr: Turkish stake might increase
The Turkish Renaissance Group currently holds a 10% stake in Austria's third-largest construction group. This share could be increased significantly.
December 23, 2010
Austria's Export Economy is Booming
Given the high growth rates in the past year, the Austrian export economy shows itself also optimistic for 2011.
December 22, 2010
OMV Closes Acquisition of 54.14% in Petrol Ofisi
OMV, an Austrian energy group, completed the acquisition of a 54.14% stake in Petrol Ofisi A.S.
December 22, 2010
Verbund Starts Restructuring in France
The Austrian energy company takes full control of the Poweo production subsidiary Poweo Production S.A.S.
December 22, 2010
Change in Magna´s Management
The Austrian-Canadian component supplier announces a change in its Board of Directors. Belinda Stronach leaves.
December 22, 2010
Austrian Official Debt Level Rises
Due to the EU-wide commitment to a more transparent presentation of liabilities, the official debt ratio of Austria will continue to increase.
December 21, 2010
WIFI trains Russian leaders
The Austrian Institute for Economic Promotion (WIFI) functions as a partner of the Russian government in the framework of the management training program
December 21, 2010
Order for Over € 100m for Voestalpine
The Austrian steel company receives an order for over € 100m by Daimler Trucks.
December 20, 2010
New Project in Poland for Atrium
Atrium strengthens polish portfolio with € 168.5m acquisition of a shopping centre in Warsaw.
December 20, 2010
French SNCF Participates in Westbahn Project
The French National Railways acquire a stake of 25% in the Haselsteiner project.
December 17, 2010
Austrian Economic Chamber focuses Growth Market China
Minister of Economy Mitterlehner presented together with the President of the Economic Camber, Leitl, strategies for the export market China.
December 17, 2010
WKÖ: EU patent to stimulate Austrian innovation
The Austrian Economic Chamber (WKÖ) welcomes the enhanced cooperation for the EU-wide patent and hopes to obtain benefits for the domestic economy.
December 16, 2010
More Employees in Austria, Purchasing Power and Taxes Remain High.
Austria records an employment increase of 1.2%. Purchasing power and taxes are above the international average.
December 15, 2010
SIS to be Sold to Atos Origin
The French Atos Origin Acquired Siemens IT Solutions and Services, both companies expect synergy effects. Drastic job cuts in Vienna are feared.
December 15, 2010
Russia Reaches for Volksbank International
VBI, the holding company for the Eastern interests of the Österreichischen Volksbanken, is for sale. Russian parties are interested.
December 15, 2010
JCL Logistics and Rail Cargo Austria Step into Strategic Alliance
Both logistics companies agree to establish a cooperation in groupage service. Their common target is to reach synergies in their transport network.
December 15, 2010
Austrian Economic Chamber is Against Euro-Bonds
Chamber President Leitl calls for an in-depth cooperation in economic policy instead of euro-bonds.
December 15, 2010
Cooperation Between Korean LG and Austrian Zumtobel
LG Innotek and Zumtobel Group conclude LED cooperation agreement.
December 15, 2010
Madoff Affair: Accused Defend Themselves
The accused Sonja Kohn and Stefan Zapotocky defend themselves vehemently against accusations and allegations. Both are, according to the accusation, part of the Madoff system.
December 14, 2010
New Logistics Center for Gebrüder Weiss in Romania
The logistics company Gebrüder Weiss has entrusted the construction of a logistics center in Sibiu to the Unger Steel Group as general contractor again.
December 14, 2010
Madoff Proceedings: Billion Lawsuit against Bank Austria
The former chairman of Bank Medici, Sonja Kohn, is said to have managed the Madoff system for years. A lawsuit has been filed from the US.
December 13, 2010
Lenzing Expands Fiber Production Capacity
The Lenzing Group, an Austrian actor in man-made cellulose fibers, sets the course for the future expansion of its fiber production capacity.
December 13, 2010
Nowotny: No Euro-bonds Yet
Although he supports the euro-bonds in principle, the time has not come yet for the Governor of the Austrian National Bank.
December 10, 2010
Corruption in Austria: 9% Pay Bribes
Austria follows the international trend of growing corruption. 25% are ready to pay bribes worldwide.
December 10, 2010
Mayr-Melnhof: Bankruptcy in Switzerland
The Austrian manufacturer of packaging materials is preparing bankruptcy proceedings for the Swiss sawmill in Ems.
December 8, 2010
Strabag Hopes for Projects in Russia
Russia will hold the 2018 World Cup, expected to be the most expensive of all times. Numerous construction projects will be awarded.
December 8, 2010
Turkey: Verbund Fails in Privatization
The Austrian-Turkish joint venture was unable to participate in the privatization of the Turkish power grids. The Group's objectives remain valid nonetheless.
December 8, 2010
High Expectations about the New AUA Chairman
The Frenchman Thierry Antinori, is to complete successfully for Lufthansa the restructuring of the Austrian subsidiary.
December 8, 2010
Bavaria: "Hypo-Sale was Correct"
The issue Hypo Alpe Adria preoccupies not only the Austrian justice: Bavaria's Prime Minister Horst Seehofer defended the sale to Austria.
December 8, 2010
Strong Growth in Foreign Trade
In the first nine months, Austria imported goods for € 82.45bn (+14.8%). Exports increased by 5.8% to € 79.69bn.
December 8, 2010
Romania Sells Stake in Petrom
The state share in the Romanian Petrom, a subsidiary of the Austrian OMV, is to be reduced. OMV is interested.
December 7, 2010
Raiffeisen Bank International's direct bank Zuno launches in Slovakia
Zuno, which target Internet-focused customers, launches operations in Slovakia. Additional CEE countries will follow in 2011.
December 6, 2010
BDI - BioEnergy Builds Biodiesel Plant in Belarus
The Styrian company expands its operations to Belarus. The order value amounts to € 10m.
December 6, 2010
Sattler AG Expands to the U.S.
The Austrian specialty textiles manufacturer based in Graz, acquires the American brand Outdura in North Carolina.
December 6, 2010
Trade Between Russia and Austria is Booming
The volume of trade between Austria and Russia has increased by 30%. Innovation and modernization are core issues for both countries.
December 6, 2010
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