Austrian News

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

Sanader Remains in Extradition Custody

Custody prior to extradition was imposed on the former Croatian Prime Minister Sanader. He complains about the "arbitrariness of the Croatian authorities".

December 28, 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

CO2 Emissions in 2009 Decreased by 4.75m Tons

Energy-related CO2 emissions decreased in 2009 in Austria by 4.75m tons or 7.4% to 59m tons, according to WIFO estimates

December 27, 2010

Higher Bank Tax for Bank Austria

The UniCredit-subsidiary Bank Austria will have to pay a bigger amount of the bank tax in 2011. The contribution in the following year decreases.

December 27, 2010

Income Report: Workers' Wages Fell in Real Terms

In its income report, the Audit Court presents the evolution of the income of the Austrians. Increasing differences can be identified.

December 24, 2010

Investigations Against Sanader Continue

The investigation of Austrian and Croatian authorities against the former Prime Minister of Croatia in the Hypo affair are being intensified. Many questions remain unanswered.

December 23, 2010

Foundations: Greater Legal Certainty for Founders

A new amendment to Austrian private foundations law allows more clarity for private founders.

December 22, 2010

Hypo Group: Sanader Denies Payments of Commissions

The former Croatian Prime Minister Ivo Sanader, questioned in Salzburg, denies having ever received money from the Hypo Group.

December 22, 2010

AAA Rating Confirmed for Austria

The rating agency Standard & Poor’s; leaves Austria’s credit status unchanged.

December 22, 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

Leitl: Municipal Financial Problems Act as Growth Brake

The President of the Austrian Federal Economic Chamber (WKÖ), Christoph Leitl, demands greater spending efficiency in the public sector in order to improve municipal finances.

December 22, 2010

Urgent Need for Capital at Austrian Banks

Walter Rothensteiner, Chairman of RZB as well as the Credit Division of the Economic Chamber, considers that domestic banks are under massive capital pressure.

December 21, 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

Austrian Supervisory Boards Come Out Favorably in Worldwide Comparison

According to a KPMG study, Austrian supervisory board members are informed timely and sufficiently about in-house operations.

December 21, 2010

The KSV Publishes Austrian 2010 Insolvency Statistics

The Kreditschutzverband (KSV, Credit Protection Association) has established an 8% decrease in corporate insolvencies.

December 21, 2010

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