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Get the latest business news and analysis on the Austrian economy, including news on economic policies, foreign trade, financial developments and investments
AT&S and European Partners Revolutionize Electromobility with Research Project “HiPower 5.0”
In a step forward for the European microelectronics and mobility industry, leading technology companies and research institutions in Europe have launched the EU research project “HiPower 5.0.” Coordinated by Austrian mobility technology company AVL List GmbH and with Austrian microelectronics manufacturer AT&S as a strategic partner, the project aims to develop intelligent and highly compact drive solutions for the automotive and shipping sectors that enable greater efficiency and range.
August 14, 2025
Austrian Chancellor Stocker's Visit to Serbia Overshadowed by Escalating Protests
Escalating protests in Serbia overshadowed the official visit of Austrian Chancellor Christian Stocker to Belgrade. While Stocker emphasized the close relationship between the countries and reaffirmed Serbia's prospects for EU accession, violent clashes broke out in several cities between opponents of the government, supporters of President Aleksandar Vučić, and the police, stemming from months of student protests. Stocker called for the rule of law and media independence.
August 14, 2025
Signa Insolvency Proceedings Take a New Turn: €191 Million Claim Against Benko
In the insolvency proceedings involving former Signa founder René Benko, a new development is once again causing a stir. A company from Abu Dhabi has filed claims against Benko in the amount of €191 million at the Innsbruck Regional Court.
August 13, 2025
Economic Recovery According to WIFO Still a Long Way Off in Austria
While the economy in the eurozone has largely stabilized, Austria remains in a phase of stagnation, according to the latest economic report from the Austrian Institute of Economic Research (WIFO). Domestic growth is stagnating, the labor market is weakening, and inflation is rising again more sharply. Industry in particular is in a prolonged recession, while only public services are showing momentum.
August 11, 2025
Austria Calls for “Roam Like at Home” for the Western Balkans Too
Austrian state secretaries are calling for equal treatment in roaming charges and appealing to the EU to include the countries of the Western Balkans in the upcoming roaming regulations. Similar to Ukraine, which is to be integrated into the EU roaming area from 2026, the Austrian representatives see the need to give the accession candidates in the Western Balkans a clear perspective in everyday digital life.
August 11, 2025
Just in Time for the End of Summer: Vienna Public Transportation Ends Summer Construction Projects
The major summer construction spurt at Wiener Linien is coming to an end. Just in time for the start of school on September 1, numerous restrictions on the tram and subway network will be lifted. According to Wiener Linien, the extensive modernization work, which is intended to strengthen the backbone of public transport in the Danube metropolis, is on schedule.
August 10, 2025
Austrian Diplomacy Strengthens Partnerships with Landlocked Developing Countries in Central Asia
At an important UN conference in Turkmenistan, Austria once again reaffirmed its role as a strong partner for landlocked developing countries. State Secretary Sepp Schellhorn, who attended the conference, emphasized the importance of deeper regional cooperation and modern logistics networks to compensate for the particular geographical disadvantages of these countries.
August 10, 2025
UNODC: War is Transforming Ukraine's Criminal Landscape
The war in Ukraine has significantly altered the country's criminal landscape and caused considerable social and economic damage. In a report, the United Nations Office on Drugs and Crime (UNODC) examined the development of organized crime in the fourth year of the war and found that criminal groups have adapted their business models to the new reality.
August 6, 2025
Kaufhaus Tyrol in Innsbruck Sold After Signa Bankruptcy
The sale of the Kaufhaus Tyrol department store in Innsbruck, once a prestigious project of Signa founder René Benko, is now officially complete. As part of the bankruptcy proceedings of Signa Prime Selection AG, the newly founded company KHT AcquiCo SARL has taken over the downtown department store.
August 6, 2025
Austria's Armed Forces Want Own Satellites for Greater Independence
The Austrian Armed Forces are finalizing their plans to venture into space. According to an announcement by the Ministry of Defense, the first Austrian satellites are scheduled to be launched in late 2026 or early 2027. The aim is to reduce dependence on other countries for important satellite services and to establish an independent infrastructure in space.
August 5, 2025
50 Years of the Helsinki Final Act: A Compass in Turbulent Times
The Organization for Security and Cooperation in Europe (OSCE) celebrated the 50th anniversary of the signing of the Helsinki Final Act with a series of high-profile events in Helsinki, featuring speeches by Finland's Minister for Foreign Affairs, Elina Valtonen, and Ukrainian President Volodymyr Zelenskyy. The historic pact, signed in 1975 amid the Cold War, is hailed by heads of state and government as a fundamental document for European security and cooperation. Despite serious challenges, particularly Russia's war against Ukraine, the continued relevance of the Helsinki principles was reaffirmed.
August 4, 2025
Chinese Ambassador QI Mei Strengthens Relations During Working Visit to Salzburg
China's ambassador to Austria, QI Mei, used the Salzburg Festival as an opportunity to strengthen relations between China and Austria. She paid an official working visit to the province of Salzburg, which was marked by political exchange, cultural diplomacy, and economic cooperation.
August 3, 2025
FPÖ Warns of Impending Gas Shortage and Dependence on the U.S.
The FPÖ is sounding the alarm and urgently warning the EU of an impending gas shortage that could be triggered by the Union's climate targets and possible supply stoppages from abroad. In a recent press release, the party once again describes EU climate policy as unrealistic and a threat to Europe's prosperity and competitiveness, warns against the U.S., and defends Russia.
August 3, 2025
EU Approves 1.6 Billion Euros for Comprehensive Reforms in Austria
The European Commission today approved Austria's second payment request for €1.6 billion from the NextGenerationEU recovery plan. In doing so, the Commission confirms that Austria has successfully met the ambitious 67 milestones and targets for the second and third installments.
July 30, 2025
OPEC Fund Development Forum 2025: Global Partners Seek Ways to Build a Stronger Future
The international development community is gathering in Vienna for the fourth OPEC Fund Development Forum. Under the theme “A Transition that Strengthens Our Tomorrow,” more than 500 high-level representatives, including heads of state, ministers, and heads of international institutions, are coming together in the historic setting of the Hofburg Imperial Palace to discuss pressing global challenges.
July 29, 2025
FPÖ Files Complaint over Suspicion of Breach of Trust in EU Funding for NGOs
The Freedom Party of Austria (FPÖ) filed a complaint on suspicion of embezzlement in connection with the payment of EU Commission subsidies to various organizations and associations. This move belongs to a greater strategy that aims to weaken European integration and instead promote a renationalization of politics.
July 29, 2025
Nuclear Talks in the Shadow of Tensions: Iran and the E3 Struggle for Nuclear Agreement
Nuclear talks between Iran, Germany, France, and the United Kingdom took place in Istanbul, aimed at finding a solution to the controversial Iranian nuclear program. Although no concrete results have been announced yet, the talks are set to continue.
July 28, 2025
Rubio Received Meinl-Reisinger: Focus on Trade, Global Tensions, and the Transatlantic Partnership
Austrian Foreign Minister Beate Meinl-Reisinger traveled to Washington to meet with her U.S. counterpart, Marco Rubio, to reaffirm bilateral relations and discuss pressing global challenges. The focus was on issues important to Europe, such as transatlantic trade dialogue, the wars in Ukraine and the Middle East, and stability in the Western Balkans.
July 28, 2025
AUA Resumes Flights to Tel Aviv in August
Austrian Airlines (AUA) will resume flights to the Israeli metropolis of Tel Aviv on August 1. The Lufthansa subsidiary announced this decision following a “thorough security assessment.”
July 25, 2025
Vienna and GLOBAL 2000 Secure Drinking Water Supply in Ukraine
The City of Vienna and the environmental protection organization GLOBAL 2000 are intensifying their long-standing cooperation to secure the drinking water supply in Ukraine. With the installation of nine additional water treatment plants in the Kharkiv region, thousands of people now have access to clean drinking water.
July 25, 2025
Uganda Opens New Vienna Mission to Power Nuclear Energy Ambitions
Uganda has strengthened its commitment to nuclear energy development with the establishment of a new diplomatic mission in Vienna. This strategic move is primarily aimed at enhancing collaboration with the International Atomic Energy Agency (IAEA) as Uganda accelerates its efforts to harness nuclear power for domestic electricity generation.
July 24, 2025
Former Chancellor Karl Nehammer Becomes Vice-President of the European Investment Bank
Former Austrian Chancellor Karl Nehammer (ÖVP) has been officially appointed as the new Vice-President of the European Investment Bank (EIB). He will take up his post on September 1, 2025, succeeding Swedish Vice-President Thomas Östros. The appointment was made following a decision by the finance ministers of the 27 EU member states, who represent the EIB's shareholders, on the recommendation of Austria.
July 23, 2025
UN Drug Policy in Peril: U.S. Cuts and Global Tensions Could Spark Global Crisis
International drug policy and the organization that implements it, the United Nations Office on Drugs and Crime (UNODC), are in the midst of an unprecedented crisis. A dramatic shift in U.S. policy under Donald Trump's “might makes right” approach, drastic funding cuts, and the unexpected departure of Executive Director Ghada Waly have undermined the United Nations' long-standing consensus-building mechanisms, casting doubt on the future of global drug control.
July 22, 2025 · Updated: July 23, 2025; 14:20
North Korea Appoints New Ambassador to Austria
North Korea has reportedly named veteran diplomat Kyong Hak Min as its new ambassador to Austria, a move that could see him also represent Pyongyang at international organizations in Vienna.
July 22, 2025
Austria on Course for a Digital and Sustainable Era in Europe
The Austrian federal government has presented a positive mid-year review of its work for the first half of 2025. Chancellor Christian Stocker, Vice-Chancellor Andreas Babler, and Foreign Minister Beate Meinl-Reisinger presented the progress made in implementing the government program and reaffirmed the goal of making Austria future-proof, securing prosperity, strengthening competitiveness, and advocating for a strong Europe, as Chancellor Stocker reiterated during his trips to Italy and France.
July 21, 2025
Austrian Government Opens Bregenz Festival 2025 with Appeal for Visionary and Responsible "Mindset"
The Bregenz Festival 2025 had been officially opened. The opening ceremony, which attracted high-ranking representatives from politics and culture, focused on Austrian President Alexander Van der Bellen and Austrian Vice-Chancellor Andreas Babler. Both argued in their speeches that we are living in a forward-looking and critical time, emphasizing the importance of showing courage and responsibility.
July 21, 2025
Austria's Debt Relief: A Focus on Billions
Since the turn of the millennium, Austria has waived debts amounting to around €3.4 billion owed to other countries. This information is based on a recent parliamentary response from the Ministry of Finance, which has drawn particular criticism from the Freedom Party of Austria (FPÖ).
July 16, 2025
Myanmar Takes Over Chairmanship of ASEAN Committee in Vienna
Myanmar has assumed the chairmanship of the ASEAN Committee in Vienna (ACV). Ambassador Min Thein of Myanmar has pledged to continue ongoing initiatives and further strengthen the unity and commitment of the diplomatic missions of the ASEAN countries in Vienna. The handover took place during the 63rd meeting of the committee, which was chaired by Laos' chargé d'affaires in Austria, Viengxay Thammavong.
July 15, 2025
Vienna Airport Defies Global Challenges with Strong Half-Year Results
Vienna International Airport (VIE) experienced solid passenger growth in the first half of 2025, despite a slight decline in June, attributed to the ongoing conflict between Iran and Israel. A total of 14.7 million passengers traveled through Vienna Airport between January and June, representing a 2.4 percent increase compared to the same period last year.
July 15, 2025
Austria Strengthens Security Partnerships with the United Kingdom and Germany
Austria has deepened its bilateral relations with the United Kingdom and Germany in a series of important security policy consultations. The high-level talks focused on current security policy challenges, strategic interests, and strengthening defense cooperation in a changing global environment.
July 15, 2025
ICMPD Director General Michael Spindelegger: Europe Ten Years After the Refuge Crisis
Ten years after the so-called “refugee crisis” of 2015, Europe is taking stock of its migration policy. While enormous progress has been made in addressing the challenges, experts such as Michael Spindelegger, Director General of the International Centre for Migration Policy Development (ICMPD), warn that the region continues to face growing complexities and political tensions.
July 14, 2025
Patrick Lobis Head of the EU Commission Representation in Austria
The European Commission has, for a while since handed over the management of its representation in Austria to Patrick Lobis. As the official representative of the European Commission in Austria, Lobis reports directly to President Ursula von der Leyen.
July 14, 2025
Human Rights in Austria: NGOs Make 159 Demands on the Government
According to numerous non-governmental organizations (NGOs), the human rights situation in Austria continues to leave much to be desired. In the run-up to the United Nations' Universal Periodic Review (UPR), more than 300 civil society organizations issued a joint statement addressing an impressive 159 demands to the Austrian government.
July 14, 2025
Austria's Former Top EU General Brieger Urges Massive Increase in Military Preparedness
After three years at the helm of the European Union's Military Committee, former Austrian Chief of Staff Robert Brieger returns to Vienna and urges Europe, and Austria in particular, to drastically increase its defense readiness in light of the ongoing threat from Russia. Brieger calls for a paradigm shift—away from the Austrian Armed Forces as a disaster relief force and toward a combat-ready national defense army. A critical examination of Austrian neutrality is “inevitable” in this context.
July 14, 2025
Chinese Embassy Hosts Traditional Summer Festival for China Alumni in Austria
The Chinese Embassy in Austria hosted its annual summer party for China-Alumni. Around 100 guests from various professional fields attended the event, which celebrated the deep ties and cultural exchange between China and Austria.
July 10, 2025
Austria, Bavaria, and Italy Push for Digital Slot System for Brenner Transit
To alleviate the long-standing congestion on the Brenner transit route, Austria and Bavaria are collaborating with Italy to implement a digital slot system for truck journeys. This initiative was agreed upon by Bavarian Minister-President Markus Söder and Austrian Chancellor Christian Stocker during Söder's working visit to Vienna.
July 10, 2025
EU Initiates Deficit Procedure Against Austria: Finance Minister Marterbauer Remains Confident
The European Union has officially initiated an excessive deficit procedure against Austria. This step, based on a recommendation by the European Commission, was decided at a meeting of EU finance ministers in Brussels. The reason for the procedure is that Austria's budget deficit, at 4.7 percent of GDP last year and a planned 4.5 percent this year, is significantly above the 3 percent limit set in the Maastricht criteria.
July 10, 2025
OSCE Secretary General Sinirlioğlu in Paris on the Role of the OSCE in the European Security Architecture
At a time of growing international tensions, the Secretary General of the Organization for Security and Co-operation in Europe (OSCE), Feridun H. Sinirlioğlu, concluded an official visit to Paris with talks with France's Minister for Europe and Foreign Affairs, Jean-Noël Barrot, on the crisis hotspots around Europe and the role of the OSCE.
July 9, 2025
Vienna Remains on UNESCO Red List: World Heritage Site Still Endangered
The historic center of Vienna remains on UNESCO's Red List of endangered world heritage sites. This decision was made on Wednesday at the ongoing meeting of the UNESCO World Heritage Committee in Paris, where the draft decision was adopted without amendments or discussion by collective decision.
July 9, 2025
Wirecard Scandal: Liquidator Reveals Billion-Euro Loss
Five years after its collapse, the Wirecard scandal continues to reverberate: Insolvency administrator Dr. Michael Jaffe revealed in the trial against former CEO Markus Braun that an incredible €1.1 billion was “burned” at the payment processor. While Braun claims in court that a shadow network existed, the main suspect, Jan Marsalek, remains at large, presumably in Russia.
July 9, 2025
Meet Asadollah Eschragh Jahromi, Iran's Ambassador in Vienna
H.E. Dr. Asadollah Eschragh Jahromi, the ambassador of the Islamic Republic of Iran, recently presented his credentials to both the Austrian Federal President and the Slovak President, thereby officially commencing his diplomatic missions in both countries.
July 7, 2025
Prix Ars Electronica 2025: Robotics and AI in the Spotlight of Media Art
The renowned Prix Ars Electronica has announced its winning projects for 2025, with robotics and artificial intelligence (AI) playing a particularly prominent role. From nearly 4,000 submissions from 98 countries, four Golden Nicas and numerous other awards were presented, underscoring the diversity and innovative power of the media art scene worldwide.
July 7, 2025
Vienna as Europe's AI hub: Regional Support and Billions in Investment Expected
Parallel to the establishment of AI Factory Austria, Vienna is intensifying its campaign to host one of up to five planned European “AI Gigafactories.” The official application, a joint project of the federal government, the city, and the business community, was signed on June 20, 2025, by top politicians, including Federal Chancellor Christian Stocker and Mayor Michael Ludwig.
July 7, 2025
Austrian Forum for Peace 2025: Peace Work in Times of Crisis, New Approaches, and the Role of Europe
This year's Austrian Forum for Peace 2025, themed “Peace in Crisis,” has come to a successful conclusion at Friedensburg Schlaining. The four-day international conference organized by the Austrian Center for Peace (ACP) brought together over 200 experts, diplomats, scientists, and representatives of international organizations from more than 25 countries to discuss pressing issues of peace work in an increasingly fragmented world.
July 4, 2025
Vienna: Still Among the World's Leading Conference Cities
Vienna consolidates its position as a leading global conference destination: after taking first place in the prestigious ranking of the International Congress and Convention Association (ICCA) in May, the city has now achieved second place worldwide for the third time in a row in the latest congress ranking of the Union of International Associations (UIA) for 2024.
July 4, 2025
Vienna Public Transport Company Opts for Air Conditioning and Increased Comfort for Passengers
Wiener Linien has recorded a record number of air-conditioned vehicles in its public transport network. According to the company, three out of four journeys on buses, subways, and trams are already air-conditioned. This is intended to make travel more comfortable for passengers, even on hot days.
July 4, 2025
Microsoft Strengthens Austria's Digital Future: Billion-Euro Investment in New Cloud Region
Technology giant Microsoft officially opened its new cloud region in Austria in the presence of State Secretary Alexander Pröll. With an investment of one billion euros and three data centers in the Vienna metropolitan area, which will go into operation in August, Microsoft is sending a strong signal for the country's digitalization and economic development.
July 3, 2025
Port of Vienna Enjoys Record Year in 2024: Increased Turnover and High Investments Secure Future
Port of Vienna, a key company within Wien Holding, can look back on an exceptionally successful 2024 financial year this summer. Despite a challenging economic environment, the trimodal logistics center significantly increased its revenue and achieved a record operating result. At the same time, extensive investments were made in infrastructure, digitalization, and sustainability to further consolidate its position as one of Europe's most important hinterland hubs.
July 3, 2025
Ban Ki-moon Praises Vienna and Reaffirms its Leading Role in Multilateralism
During a visit to Vienna, former United Nations Secretary-General and Co-Chair of the Ban Ki-moon Centre for Global Citizens (BKMC), Ban Ki-moon, praised Austria and the city of Vienna for their leading role in the field of multilateralism. At a time of increasing geopolitical tensions, he emphasized the crucial importance of international cooperation.
July 3, 2025
Focus on the Danube: World's Largest Surface Water Monitoring Project Launched
The Danube, Europe's second-longest river and the most international river basin in the world, is the focus of Joint Danube Survey 5 (JDS5), the world's largest surface water monitoring project, which was officially launched in Vienna. Conducted every six years, this comprehensive scientific initiative is a beacon of cross-border cooperation in water management.
July 2, 2025
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