Austrian News
Austrian News: Read the latest headlines about developments in Austrian domestic politics with reference to the international interest
Massive Rise of Debt in the Public Sector
Austria's debt is rising dramatically. Not only the state budget, but also the provinces and municipalities are the major contributors to this situation.
December 31, 2010
Changes in Living Standard of Austrians
A WIFO study compares the required average working time of industrial workers to the purchase of goods and services over the passage of time.
December 31, 2010
Immofinanz Sues Lobbyist
The Austrian real estate group Immofinanz sues its former adviser, Walter Meischberger, because of the "Buwog Affair".
December 30, 2010
Nowotny Calls for Consistent Budget Consolidation
The Governor of the OeNB draws balance at the end of the year and gives his outlook on the challenges for 2011
December 30, 2010
Austria's Labor Market Opens
As of May 1, 2011 the German and Austrian labor markets open for the new EU citizens. Romania and Bulgaria will follow suit in 2013.
December 30, 2010
WIFO Director: "Crisis was not Taken Advantage of to Introduce Reforms"
In an interview with the newspaper "Kurier", the head of the WIFO criticizes the lack of commitment to reforms. His perspectives for Austria are nevertheless optimistic.
December 30, 2010
WIFO: Lack of Competition in Austria
According to WIFO, lack of competition is causing a growth bottleneck in Austria and requires legal action by the government and the EU.
December 29, 2010
State Visit from Qatar in Austria
As part of a three-day state visit by the Head of State of Qatar, talks on economic topics are mainly planned.
December 29, 2010
Leitl Demands Reforms
The President of the Austrian Economic Chamber calls for more Government work in administration, health and education.
December 29, 2010
Bank Austria CEO Cernko: Austrian Banks Fight Securities Tax
The CEO of Bank Austria, Willibald Cernko, was interviewed by the newspaper “Kurier”. He announced that Austrian Banks will call the Constitutional Court.
December 29, 2010
Illegal Employment Grows
One of four Austrian firms employs illegal workers from abroad.
December 29, 2010
Spindelegger: Turkey's Joining the EU Will Not Happen Before 2024
In an interview with the "Wirtschaftsblatt", the Austrian Foreign Minister stresses the relevance of Turkey. Croatia should come into the EU much earlier EU.
December 29, 2010
Chamber of Labor Calls for a More Equitable Distribution
Corporate profits on one hand and reduced working hours, dismissals and wage cuts on the other, are not compatible for the Chamber of Labor.
December 28, 2010
Raiffeisen Foresees a Weak Decade for Europe
RLB Niederösterreich-Wien expects hardly any economic growth, particularly in the euro countries. Austria is however relatively well positioned.
December 28, 2010
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
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