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Austrian News
Austrian News: Read the latest headlines about developments in Austrian domestic politics with reference to the international interest
Above-Average Labor Market Data for Austria
Compared with Europe, there are relatively a lot of people of working age employed in Austria. The proportion of unemployed is also low.
December 21, 2010
ÖIAG: Sale of the Post and Telekom is possible
Peter Michaelis, the departing CEO of the Austrian state holding company (ÖIAG) is considering the sale of interest holdings.
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
FMA: Solid Performance of Austrian Pension Funds
The Financial Market Authority (FMA) publishes a report on the Austrian pension funds. The performance is diverse. .
December 17, 2010
Allegations of Market Abuse Against ÖBB
The Austrian Federal Railways are facing another accusation by the Federal Competition Authority. Rail Cargo is said to have abused its market power.
December 17, 2010
Austria's Tax Revenues are Higher than Expected
As the economy developed relatively well this year relatively, tax revenues increased. The deficit for 2010 might therefore turn out to be lower than planned.
December 17, 2010
Accusations Against Sanader Grow Stronger
Many clues point to improper activities by former Croatian Prime Minister Ivo Sanader in connection with the Hypo Group.
December 16, 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
Changes on the Management Board of Vienna International Airport
After several weeks of controversial discussions, the Supervisory Board announced Christoph Herbst as new CEO. He will succeed Herbert Kaufmann.
December 16, 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
Complaint of Unconstitutionality against Securities Capital Gains Tax
Austria banks and investment companies file a complaint before the Constitutional Court against the as of next year introduced tax on securities capital gains.
December 14, 2010
Skylink: Resignation of Executive Board or Supervisory Board
The Vienna Airport Skylink debacle is becoming a political issue. Staffing decisions have been made.
December 14, 2010
Risk of Poverty for 12% of Austrians
By 2008, 12.4% of the Austrian populatin is threatened by poverty. The average of the EU countries amounts to 17%.
December 14, 2010
Austria Benefits from Low Loan Interest Rates
Because of low interest rates and spreads, Austria is able to get convenient financing on the loan market. Euro-bonds would mean significant costs for Austria.
December 13, 2010
Changes in Trend for the Austrian Labor Market
Imminent job cuts because of the uncertain business development.
December 13, 2010
Vienna Stock Exchange: Tax on Securities Gains Damages Austrian Economy
Massive disadvantages for Austrian companies because of financing made more difficult are feared by the members of the of the Vienna Stock Exchange board, Michael Buhl and Heinrich Schaller.
December 13, 2010
Economic Chamber: Positive Outlook for 2011
The Business Barometer presents both opportunities and risks for the Austrian economy. Shortage of skills and low investment continue being weak points.
December 13, 2010
Is Austria a Risk Country?
Due to its engagement in Eastern Europe, Austria is partially considered as a potential risk country. Lack of understanding for this assessment is shown by Austria.
December 10, 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
Workers Count on Early Retirement
Nearly half the Austrian salaried employees do not expect to work until reaching normal retirement age.
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
Mitterlehner: New Red-White-Red Card has Advantages for Economy and Location
The "red-white-red-card" is to meet the needs of the Austrian economy for skilled foreign workers.
December 10, 2010
Austrian Economic Chamber Supports Development of the Danube as a Transportation Route
Austrian Economic Chamber President Christoph Leitl supports the EU's Danube region strategy to expand infrastructure between the Danube countries.
December 10, 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
Austrian Resistance Against Euro Bonds
Massive criticism comes from Germany, the Netherlands and Austria against the proposal to implement euro bonds to stabilize the currency in the EU.
December 8, 2010
Increase of Austrians’ Purchasing Power
Despite higher taxes and lower benefits, the purchasing power of the Austrian people will grow in 2011 by an estimated 2.6%.
December 7, 2010
Nowotny Pleads for Euro-Bonds
The governor of the Austrian National Bank, Ewald Nowotny, is for the introduction of euro-bonds. Germany’s resistance is pre-programmed.
December 6, 2010
Andritz Criticized Because of Belo Monte Hydroelectric Power Plant
After being sharply criticized by church organizations because of a construction project in Brazil, the plant manufacturer now turns to the public.
December 6, 2010
Leitl Vehemently Defends Euro Protection Shield
The President of the WKÖ (Austrian Federal Economic Chamber), Christoph Leitl, gives a clear answer to the euro critics: without the euro, Austria would have become a problematic case in 2009.
December 6, 2010
Failure of Austria's Software Industry
The President of the VÖSI, Peter Kotauczek, draws a sobering summary of the efforts of domestic software manufacturers.
December 6, 2010
Wikileaks: Criticism of Austrian Politicians by the U.S.
The critical view on Austria's leading politicians on part of the U.S. is written down in the recent revelations of the Wikileaks platform.
December 5, 2010
New Regulations for Bank Managers' Bonuses
Additional compensations for managers in the banking sector are subject to new regulations approved by the Austrian National Council. Payments will be deferred in time.
December 5, 2010
Vienna Airport Board Sees no Fault of Their Own
The controversial directors of Flughafen Wien (Vienna International Airport) defend themselves against public criticism of the construction project "Skylink".
December 5, 2010
Passing On of Bank Information: FMA Defends Itself
Since, according to Wikileaks, the Austrian Financial Market Authority (FMA) has passed on bank data to the U.S., a position has been taken about the issue.
December 5, 2010
Discussion over Insider Trading Among Austrian Leadership
Domestic insider trading regulations could be improved, imply top personalities of the Austrian economy. Radical proposals are also being made.
December 3, 2010
Michaelis Leaves Austria's State Holding Company
The contract of Peter Michaelis, Chairman of The State Holding Company OIAG, expires in June 2011. There is disagreement over the succession in the government.
December 3, 2010
Triple-A Rating: Treichl vs. Nowotny
The Chairman of the Erste Group is not convinced anymore by Austria's financial policy; the Governor of the National Bank however, still stands on "AAA".
December 3, 2010
Stable Recovery of Austrian Economy
The Oesterreichische Nationalbank (OeNB, Austrial National Bank) is assuming a growth of the economy of 1.9% for 2010. Further acceleration is possible for subsequent years.
December 3, 2010
Equity Requirements of Austrian Banks are € 18 billion
Due to the new Basel III regulations, Austrian banks will need a much stronger capital base by 2019. The estimation is € 15 billion to € 18 billion.
December 2, 2010
U.S. Sees Money Laundering Activities at Austrian Banks
Wikileaks has published notes of the U.S. Embassy in Vienna. There were allegedly money exchanges between Austrian banks and criminals.
December 2, 2010
Mitterlehner: To Expand Further Good Trade Relations with Switzerland…
The Minister of Economy, after meeting with his Swiss counterpart, said: "Switzerland is the third most important export partner; new opportunities with eco-innovations should be profited from".
December 2, 2010
Austria's Industry Welcomes Electricity Reform
Whereas Industrialists and the Economic Chamber (WKO) are asking for enactment today, the Umweltdachverband (UWD, Environmental Federation) is against it.
December 1, 2010
Unemployment Continued to Decline in November
Both the number of unemployed and trainees show a decline.
December 1, 2010
Extra-budgetary Debts Grow Unabated
Debt levels which are not attributed to the Austrian Federal Budget rise exorbitantly. Above all, the ÖBB and Asfinag are responsible.
November 30, 2010
Erste Group is Holding Repayment of Public Funds
The participation capital granted by the State following the bank crisis will only be paid back by the Erste Group after specifications of Basel III are set.
November 30, 2010
The Budget is Finally Set
After weeks of discussions about the 2011Austrian Federal Budget, the final details were announced today. There are very few amendments to the original project.
November 30, 2010
Industrialists: Destruction of Business Location Averted
The Industriellenvereinigung (IV, Industrialists Association) is relieved about issues concerning location policy, and at the same time calls for structural reforms.
November 30, 2010
Salary Increase in Trade up to 2.3%
Low incomes are taken more into account than higher salaries; the minimum wage in trade now amounts to € 1,300.
November 30, 2010
Globalization Study: Vienna Among Top 20 Cities
New York remains at the top of the ranking of the "Global City Index 2010" by A.T. Kearney. Vienna stays unchanged at 18th place.
November 30, 2010
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