Austrian News

Austrian News: Read the latest headlines about developments in Austrian domestic politics with reference to the international interest

Austria’s Tax Revenues 7.6% Higher than in 2010

The state’s total revenue was up by 8.2%, while expenditures increased by only 1.08% in the period January to September.

November 11, 2011

Felderer: “Austria’s Triple-A at Risk”

The head of the IHS warns against a spillover of the Italian crisis and calls for a national debt brake.

November 9, 2011

Bawag Sues Linz For € 418m

The U.S.-owned bank now sues the Upper-Austrian capital. Linz has terminated a swap contract based on Swiss Francs.

November 8, 2011

Concerns About Austria´s Finance

Due to missing infrastructure projects, Austria loses € 28bn year by year. The President of the Audit Court, Josef Moser, regards the situation of Austria´s finance as dramatic.

November 7, 2011

Austria Has Third-Highest Pension Costs in Europe

Austria´s expenditures for retires reached 12.7% of ist GDP. Only France and Italy surpass Austria. Sustainability of the domestic pension system improved slightly.

November 7, 2011

Capital Increase for Energie AG

The Upper-Austrian regional energy provider will raise its capital by € 200m.

November 5, 2011

Hungary Rejects Further Bank Charges

Contrary to its initial plans, Hungary will not resolve further aid measures for domestic loan takers. The government is seeking for cooperation with concerned banks.

November 5, 2011

Federal Railways: Debt Burden € 15.2bn

The Austrian Minister of Infrastructure, Doris Bures, announced the amount of debt for Austrian Federal Railways and Asfinag.

November 5, 2011

New Speculations about Austria’s Triple-A Rating

Current rumors about a possible downgrade are unfounded, according to a ministry spokesman.

November 4, 2011

Linz Believes in Victory Over BAWAG

The capital of the province of Upper Austria filed a lawsuit against Bawag, which is held by the U.S. investment funds Cerberus.

November 2, 2011

No Nationalization of Austrian Banks

The head of the Austrian bank holding company Fimbag, Klaus Liebscher, believes that Austrian major banks do not need further capital provided by the state.

November 2, 2011

Austria Intensifies Economic Relations to Serbia

The President of the Viennese Chamber of Economics, Brigitte Jank, meets Serbian Ministers in Belgrade and sees a huge potential for Austrian companies.

November 2, 2011

Austrian Unemployment on the Rise

In spite of its low level compared to other EU-countries, the number of unemployed persons increased up to 300.000 in October.

November 1, 2011

Austrian Trade With China to Double

On the occasion of the state visit of the Chinese President Hu Jintao, the Austrian Minister of Economics stated to aim a deepening of the bilateral economic relations.

November 1, 2011

Nationalization of Banks Not Excluded Anymore

According to the Minister of Economics, Reinhold Mitterlehner, in the worst case scenario a partly nationalization of banks could take place.

October 31, 2011

Nowotny Expects Lower Growth Rates

The head of the Austrian Central Bank (OeNB) Ewald Nowotny lowers the growth estimation for the Austrian economy.

October 31, 2011

State Visit: Hu Jintao in Austria

The Chinese President Hu Jintao arrived in Austria. Today the official meetings with the Austrian President Heinz Fischer and the Government will take place.

October 31, 2011

Orban Attacks Austrian Banks

The Hungarian Prime Minister Viktor Orban wants to release his country from the “debt slavery” and criticizes Austria´s reactions.

October 29, 2011

„Austria´s Triple A Not in Danger“

For the Austrian Minister of Finance, Maria Fekter, the status of the domestic economy is “well prepared”.

October 29, 2011

Croatian Parliament Abolishes 6% Mobile Service Tax

The local subsidiary of Telekom Austria benefits from the abolition of the special tax which caused expenses of € 15.2m in 2010.

October 28, 2011

Emirates Wins Dispute over Air Rights

The Middle Eastern airline was allowed to offer 13 connections per week from Dubai to Vienna.

October 28, 2011

EU Calls for Opening of Labor Markets to Romanians and Bulgarians

The European Parliament wants a solution by the end of 2011 and does not see any negative effects on social welfare systems.

October 27, 2011

Majority of Austrians Opposed to EU Rescue Package

850 respondents were asked their opinion before Wednesday’s summit meeting. 71% believe that the package is disadvantageous for Austria.

October 27, 2011

Verbund´s Subsidiary APG Going Public?

The IPO of Verbund´s subsidiary Austrian Power Grid is being discussed.

October 25, 2011

„Extend Economic Ties to Georgia“

The Austrian Minister of Economics wants to cooperate closer together with Georgia, which offers export opportunities for the Austrian industry.

October 25, 2011

WIFO Claims Property Tax

Karl Aiginger, CEO of the Austrian Institute of Economic Research calls for a significant increase in taxation of real estate and fuel.

October 24, 2011

Number of Staff Ill Decreasing

In Austria, the number of staff ill decreased slightly in 2010. On average, on 12.9 days staff was away sick. Sickness is becoming a main cause for retirements.

October 22, 2011

Slovak Bank Tax Is Going to Hurt Austrian Banks

On Thursday the Slovak parliament has officially approved a bank levy. The tax is one of the measures taken by the government to strengthen the Slovak budget.

October 21, 2011

Collective Bargaining Starts in Trade Sector

After the complicated negotiations between employers and the trade union of the Austrian metal industry, the trade sector continues. 520.000 workers are concerned.

October 19, 2011

Corruption Suspicions Against Penta

The Czech-Slovak investment company, which also bid for the Austrian A-Tec, is accused to have paid bribes to the Czech Minister of Finance.

October 19, 2011

Austrian Budget: 3.2% Deficit in 2012

Today, the Austrian Minister of Finance, Maria Fekter, presented the budget for 2012. The debt quota rises further until 2015.

October 19, 2011

Solution Found: Wage Increase by 4.2%

After heated debates and strike threats, representatives of the Austrian metal industry and the trade union came to an agreement.

October 18, 2011

Metal Industry: New Bargaining Rounds

The Austrian trade union of metal workers and industry representatives could avert a strike. However, a compromise is still not found.

October 17, 2011

€ 4.0bn Capital Requirement for Austrian Banks

After the industrialist Hannes Androsch, also the Vice-President of the Austrian Central Bank (OeNB), Wolfgang Duchatczek, sees a need to support domestic banks.

October 17, 2011

Austrian Metal Industry: Strike Threatens

After a warning strike on Friday, representatives of the metal industry and the trade union still reached no agreement. Now, a full strike threatens.

October 15, 2011

Austria Ranks Third in EU Productivity Study

The report points out structural weaknesses and suggests more effective public spending in the fields of education, research and innovation.

October 14, 2011

Slovakia Approved EFSF

After unsuccessful voting on Tuesday, Slovak lawmakers supported today the enlargement of the European Financial Stability Fund.

October 13, 2011

Innovation Indicator 2011: Austria Has Improved Markedly

In a ranking of 26 industrialized countries, Austria has risen to the eighth place. The R&D ratio has climbed to 2.8% of GDP.

October 13, 2011

Bargaining Suspended – Metal Workers Take Industrial Action

Employees of more than 140 Austrian companies went on strike after negotiators had failed to agree on wage increases.

October 13, 2011

Slovakia Against the Enlargement of the Euro Zone Bailout Fund

After six hours of heated debate Slovak lawmakers failed to approved the European Financial Stability Fund (EFSF).

October 12, 2011

Chamber of Labor Claims Substantial Wage Increase

The Austrian Chamber of Labor calls for a massive rise in wages for metal workers. The union refers to increase profits of the metal industry.

October 10, 2011

€ 2.7bn Profits Due to Rededications

According to a new study by Kreutzer, Fischer & Partner, 280km2 of agricultural area were rededicated into building area from 2007-2011. Yearly profits therefrom amount to € 2.7bn.

October 10, 2011

Trainees in Vienna „Not Satisfied“

A study of the Viennese chamber of labor published, that a large number of trainees is not satisfied with their apprenticeships.

October 8, 2011

Austrian Government: Sharp Critics from Industrialists

The Federation of Austrian Industries (IV) attacks the government massively. For the industrialists, the new taxation plans are not acceptable.

October 8, 2011

ÖVP: Privatization of ÖBB “Unrealistic”

A privatization of the Austrian Federal Railways as suggested by Finance Minister Fekter is not an option at the moment.

October 7, 2011

Androsch „Another Three to Four Billions for Hypo Group“

The former Minister of Finance, Hannes Androsch fears a loss of Austria´s AAA-rating. “We are being observed accurately.”

October 4, 2011

Ranking: Austria Among the Most Non-Transparent Financial Centers Worldwide

Today, the Financial Secrecy Index (FSI) of the Tax Justice Network (TJN) has been published. 73 countries have been analyzed.

October 4, 2011

Mitterlehner: „Settlement of Headquarters Key Question for Austria“

The Austrian Minister of Economics, Reinhold Mitterlehner, wants to push the development of the domestic location through improving framework requirements steadily.

October 4, 2011

Dispute Over A-Tec´s Liquidation

After the Sale of the insolvent Austrian A-Tec has failed, the subsidiaries will be sold separately. Austrian politicians warn of the loss of jobs, technology and tax revenue.

October 3, 2011

Economic Crisis: Austrians Pessimistic

The majority of Austrians thinks that the economic crisis will persist and will become even worse.

October 1, 2011