Get the latest business news and analysis on the Austrian economy, including news on economic policies, foreign trade, financial developments and investments
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Vienna International Business News | Economic | Investment | Financial

Austrian Export Day 2015 - Tomorrow is Today: Meet Trade Delegates at the Exporttag

On June 30, 2015, from 10am to 5pm the Export Day (Exporttag 2015) of the Austrian Chamber of Commerce (WKO) will take place in Vienna. Economic delegates from all over the world will be present.

March 27, 2015

Germanwings Flight 9525: Captain Tried to Break into Cockpit with Axe, Co-Pilot Hid Illness

The latest reports prove that German Wings captain Patrick Sondenheimer tried to break into locked cockpit door 'with an axe' as plane was descending. German police have been searching the home of co-pilot Andreas Lubitz and his parents. They found a ripped-up sick note showing that he tried to hide his illness from employer German Wings.

March 27, 2015

Südtiroler Sparkasse Suffers EUR 231.1 Mln Loss in 2014

Savings association Sparkasse's South Tyrol unit suffered an EUR 231.1 million (USD 253 million) loss in 2014, CEO Gerhard Brandstätter and his deputy Carlo Costa said in a press release.

March 27, 2015

Austrian Economic Activity Remains Sluggish - Revival Only in Course of Year

Bank Austria has published its latest "Business Indicator" on the Austrian economy. The Austrian economy is making no headway at present after the mild improvement in the economic climate at the start of the year.

March 19, 2015

Erste Bank und Sparkassen Increase Operating Earnings by 16 Percent to EUR 947 Mln

Erste Bank und Sparkassen have concluded the year 2014 with a successful result. Operating Earnings increase from EUR 817.2 million to EUR 947.2 million.

March 6, 2015

OSCE Special Monitoring Mission to Ukraine Deputy Chief Monitor Alexander Hug to Visit Vienna

The Deputy Chief Monitor of the OSCE Special Monitoring Mission (SMM) to Ukraine, Alexander Hug, will visit Vienna, Austria, on 5-6 March.

March 5, 2015

Global Peace Index: Austria is Third Most Peaceful Country

The latest Global Peace Index analyses the state of peace around the world. It identifies the most and least peaceful countries, trends in violence and conflict, and calculates the economic impact of violence. The top three most peaceful countries are Iceland, Denmark and Austria. Small and stable democracies make up the top ten most peaceful countries. New Zealand, Canada and Japan are the only non-European countries in the top ten.

March 4, 2015

Austrian Production Index Shrinks 0.6 Pct Y/Y in 2014

Austria's working day adjusted production index decreased by 2.6% in December, y/y it shrank by 0.6 percent.

February 25, 2015

Former Ambassador Aliyev is Dead: Lawyers Doubt Suicide

Rakhat Aliyev, the former son-in-law of President Nursultan Nazarbayev, is supposed to have hanged himself in his cell. Aliyev sat in Vienna-Josefstadt in custody for allegedly killing two bankers in his homeland Kazakhstan. Today he would have to testify against alleged blackmailers.

February 24, 2015

Vienna to Have Two Million Inhabitants in 2029

Vienna is already the city with the second largest population in the German-speaking countries. But Vienna is growing faster than ever. This development entails a tremendous challenge for Vienna. Based on the figures now available, investments totalling seven billion euros will have to be made by the year 2020 in the areas of child care, public transport, other infrastructure facilities and health services alone.

February 20, 2015

Austria: Number of Naturalisations Increased by 3.7% in 2014

7.693 people acquired Austrian citizenship in 2014 (including 123 persons resident abroad). Compared to 2013, the number of naturalisations increased by 3.7%. Top former nationalities include Bosnia-Herzegovina (1 120), Turkey (885), followed by Serbia (671), the Russian Federation (433) and the Kosovo (381).

February 20, 2015

Finance Ministry: "Fitch Downgrade has no Impact on Austria Rating"

In response to the rating announcement by rating agency Fitch, the Austrian Federal Ministry of Finance says, that the current Fitch rating has no impact on the Austria rating due to temporary debt increase.

February 20, 2015

Austrian Population Rises Above 8.5 Million

Austria's population increases to 8.58 million at the beginning of 2015, according to preliminary results of Statistics Austria. In absolute terms, the population grew by almost 72 000 last year. Hence, population growth was significantly higher than in the previous year (2013: +56 000). More than half of the population growth was concentrated in the Eastern part of Austria (55.9%), where Vienna accounted for a large share of the total increase (38.9%).

February 20, 2015

Business Indicator: First Small Signs of Improvement in Austrian Economic Activity

Bank Austria has published its latest "Business Indicator" on the Austrian economy. The Indicator exits negative territory due to modest rise in January. Decline in oil price pushes average annual inflation down below 1 percent for 2015, injecting more momentum into private consumption. Growth forecast for 2015 raised to 0.9 percent.

February 20, 2015

Austrian Government Guarantees Stand at EUR 112.9 bn

Newly collected data by Statistics Austria on State guarantees (governmental contingent liabilities, potential obligations and assets) show guarantees of €112.9 bn at the end of 2013 (of which 52% are granted by the state and local government sectors).

February 10, 2015

Purchasing Managers' Index: Austrian Economy Still Waiting for Industrial Upswing

Bank Austria has published its latest "Purchasing Managers' Index" on the Austrian economy. While industrial activity is slowly improving in Europe, Austrian industry is not yet in the best of form in early 2015.

January 29, 2015

Japanese Mizuho Bank Sets Up Office in Vienna

Mizuho Bank through its Dutch subsidiary has acquired the approval to open a branch in Vienna. The bank is looking to develop its business in CEE. Simultaneously the Bank signed a memorandum of understanding with the Austrian Business Agency for services in connection with the setup.

January 28, 2015

Holocaust Memorial Day: "European Jews again feeling anxious and uncertain about their future"

As people across the OSCE region commemorated the 70th anniversary of the liberation of Auschwitz-Birkenau, officials highlighted the importance for societies to stand firmly against the contemporary challenges of anti-Semitism, racism and other forms of intolerance.

January 28, 2015

Vienna as a Business Location - The City at a Glance

Vienna combines tradition, culture and quality of life with the factors of a top business location in a unique way. A stable political and economic environment, a research and technology-friendly climate, geographical and cultural proximity to the growth markets in the east and, not least, the highest quality of life in the world provide for a place at the very top of the world’s rankings.

January 27, 2015

Does Abdullah's Death Improve Interreligious Dialogue?

Saudi King Abdullah is dead. Continuity is assured as Crown Prince Salman succeeds brother to the throne. Saudi Arabia is repeatedly being criticised for human rights violations. The case of internet activist Badawi caused in Vienna calls for the closure of the late King Abdullah Center for Interreligious Dialogue.

January 23, 2015

Celebrating 200 Years of the Congress of Vienna

Europe was reorganized at the Congress of Vienna exactly 200 years ago. Numerous princes, kings and two emperors gathered by the Danube for the negotiations. Two exiting exhibitions now provide insights into the events of 1814/15.

January 23, 2015

OSCE Permanent Council Prepares for Upcoming International Holocaust Remembrance Day

Holocaust remembrance was the focus of today's meeting of the OSCE Permanent Council at Vienna's Hofburg in light of the upcoming International Holocaust Remembrance Day (27 January).

January 22, 2015

Vienna as a Business Location - Areas of Strength

Vienna combines tradition, culture and quality of life with the factors of a top business location in a unique way. A stable political and economic environment, a research and technology-friendly climate, geographical and cultural proximity to the growth markets in the east and, not least, the highest quality of life in the world provide for a place at the very top of the world’s rankings.

January 22, 2015

ECB Unleashes Quantitative Easing - How does it work?

Today, the ECB finally commenced on a large scale sovereign bond-buying programme. The €60bn monthly asset purchases include covered bonds and asset backed securities. Due to the flood of cheap money, the DAX was boosted. The index increased by up to one per cent to a record high of 10,399.67 points. Quantitative easing is a monetary policy where a central bank creates new money electronically to buy financial assets. The aim is to stimulate an economy when standard monetary policy has become ineffective. How does it work?

January 22, 2015

10 Reasons Why You Should Invest In Vienna

In this post you'll find the top 10 reasons why your company or institution should consider investing in Vienna/Austria. In fact, we'll share the international studies which confirm the numbers and facts including its closest competitors. We look at the quality of living, the smart cities index, the prosperity, international congresses and conventions, the most reputable cities, the innovation cities index, online cities, business friendliness and other factors that influence the decision making.

January 20, 2015

Bandion Ortner Resigns from her Post at the Abdullah Center

It was the domestic political bombshell of the weekend: Ex-ÖVP Justice Minister Claudia Bandion-Ortner announced her withdrawal as the executive vice president of the controversial Abdullah Center in Vienna.

January 19, 2015

Austria has EU-Wide Most Franc Loans

In absolute terms, Austria has the most franc foreign currency loans in the European Union.

January 19, 2015

Inflation in Austria Dropped Down to +1.0% in December 2014

The annual inflation rate of the consumer price index measured by Statistics Austria went down to +1.0% in December 2014 (November +1.7%).

January 19, 2015

Business Indicator: Austrian Economy Makes a Subdued Start to the New Year

Bank Austria has published its latest "Business Indicator" on the Austrian economy. The renewed decline of the Business Indicator in December, taking it into negative territory, was influenced by the generally gloomier sentiment in the Austrian economy, which deviates to some extent from the trend seen across Europe.

January 16, 2015

Ivica Dačić in Vienna: Serbia Takes Over OSCE Chairmanship from Switzerland

The new OSCE Chairperson, Serbia’s Foreign Minister Ivica Dacic, spoke today at the inaugural Permanent Council meeting of Serbia's OSCE Chairmanship Vienna. He revealed his Chairmanship priorities pledging to rebuild trust and confidence in the OSCE region of 57 participating states.

January 15, 2015

State Holding ÖIAG to be Renamed ÖBIB

Austrian state holding ÖIAG is going to be turned into a limited liability company (GesmbH) called "ÖBIB" Österreichische Bundes- und Industriebeteiligungsholding, which will be permitted to make new acquisitions and which will report directly to the Finance Ministry.

January 13, 2015

Carl Bildt: "The cohesion of the EU is the most important objective to achieve"

How Europe should react to the surrounding areas of conflict in East and South, was debated on Sunday. More realism, less idealism for the European Union is what Ivan Krastev, Fyodor Lukyanov, Carl Bildt and Ana Palacio concluded on Sunday at the Burgtheater in Vienna.

January 12, 2015

Russian Investor Boris Mints to Launch Tender Offer for 10 Pct of CA Immo Shares

O1 Group Limited of Russian investor Boris Mints has made a voluntary partial public takeover offer of 10% of additional CA Immo shares. The offer comprises the purchase of up to 9,735,276 non-par value bearer shares of CA Immo (ISIN AT0000641352), which are admitted to the Official Market on the Vienna Stock Exchange.

November 28, 2014

Slack Performance in Austrian Industry Continues

Bank Austria Purchasing Managers' Index rises 0.5 points to 47.4, but Austrian industry contracts again in November.

November 27, 2014

Business Indicator: Economy at a Standstill - Revival in 2015 Requires New Stimulus

Bank Austria has published its latest "Business Indicator" on the Austrian economy. The bank's indicator shows that a slight improvement in the business indicator in October - yet minimal rise to neutral territory signals ongoing stagnation

November 17, 2014

Klaus Iohannis - Who is the New President of Romania?

On November 16th, Klaus Iohannis was elected the fifth President of Romania. He is due to take office on 22 December. His presidential campaign focused on fighting corruption and on improving the justice system. Klaus Werner Iohannis is a Romanian politician, born 13 June 1959. He was elected the fifth President of Romania on 16 November 2014 (age 55). He became leader of the National Liberal Party in 2014, after having served as leader of the Democratic Forum of Germans in Romania from 2002 to 2013.

November 17, 2014

"How's Austria?" Indicator 2014 has been Published

Economic growth is not identical with progress and wealth, as the updated indicator set "How's Austria?" shows: Decline in material wealth, environmental situation still critical and ambivalent picture regarding quality of life.

November 11, 2014

World Leaders Met in Vienna to Adopt 10 Year Action-Plan for Landlocked Developing Countries

The United Nations General Assembly adopted a 10 year action-plan aimed at accelerating sustainable development in the world’s 32 landlocked developing countries (LLDCs). A Business and Investment Forum was organized as an integral part of the 2nd United Nations Conference on Landlocked Developing Countries with the aim of exchanging views on the challenges and opportunities faced by LLDCs and to discuss possible partnerships and strategies in regards to the role of the private sector in the overall sustainable development of LLDCs. Also, Conchita Wurst performed live at the UN in Vienna for tolerance and mutual respect.

November 7, 2014

UN's Lakshmi Puri on Enhancing Women's Share in Peace and Security: "This is a historic moment!"

At the Austrian Parliament a high-level panel of international politicians and prominent activists have discussed significant achievements and major obstacles in the implementation of the women, peace and security agenda. The speakers included Ambassador Anwarul Chowdhury, Ursula Plassnik, former Austrian Foreign Minister, Lakshmi Puri, the Deputy Executive Director of UN Women, May Chidiac of the Chidiac Foundation and Hanan Ashrawi, PLO Executive Committee Member.

November 4, 2014

How to Set-up a Limited Liability Company (GmbH) in Austria

There are a number of important considerations for investors when deciding on how to enter the Austrian market or when establishing a business in Austria. Investors will generally need to choose between establishing a new company, registering as a foreign company or acquiring an existing company. If establishing a new business, a variety of business structures are available, each with their own regulatory and tax considerations. Businesses may also need to establish their identity through a trade mark, online and/or physical presence. Vindobona will provide a series of articles to allow investors to make the choices most appropriate to the nature of their business.

November 3, 2014

How to Set-up a Partnership (OG) or Limited Partnership Company (KG) in Austria

There are a number of important considerations for investors when deciding on how to enter the Austrian market or when establishing a business in Austria. Investors will generally need to choose between establishing a new company, registering as a foreign company or acquiring an existing company. If establishing a new business, a variety of business structures are available, each with their own regulatory and tax considerations. Businesses may also need to establish their identity through a trade mark, online and/or physical presence. Vindobona will provide a series of articles to allow investors to make the choices most appropriate to the nature of their business.

October 27, 2014

Government Debt Increased to 82.6% of GDP in Austria and to 92.7% in Euro Area

At the end of the second quarter of 2014, the government debt to GDP ratio in the euro area (EA18) stood at 92.7%, compared with 91.9% at the end of the first quarter of 2014. Austria's government debt rose to 82.6 percent of GDP in Q2 2014 from 81.3 percent in Q1.

October 23, 2014

Corporate Bond Market Comment by Raiffeisen Research: OMV, Kapsch TrafficCom, Telekom Austria

"The slight correction on credit markets that lasted until the middle of last week was calmed by speculations of a possible extension of the US Fed’s expansive monetary policy stance, as well as thus far also unconfirmed reports that the ECB might expand its bond purchases to the corporate bond sector. This slight relaxation was also observable in the stock market volatility, measured by the VDAX. This indicator rose to 23.57% p.a. last week and by yesterday had fallen to 17.75% p.a." Raiffeisen Research is seeing similar market developments in their Austrian Corporate Index.

October 23, 2014

How to Set-up a Sole Proprietorship Company in Austria

There are a number of important considerations for investors when deciding on how to enter the Austrian market or when establishing a business in Austria. Investors will generally need to choose between establishing a new company, registering as a foreign company or acquiring an existing company. If establishing a new business, a variety of business structures are available, each with their own regulatory and tax considerations. Businesses may also need to establish their identity through a trade mark, online and/or physical presence. Vindobona will provide a series of articles to allow investors to make the choices most appropriate to the nature of their business.

October 20, 2014

Business Indicator: Dip in Economic Activity Towards End of Year, but Hope Remains for 2015

Bank Austria has published its latest "Business Indicator" on the Austrian economy. The Bank's analysts believe that in light of the increasing uncertainty in recent months, the moderate recovery achieved by the European and therefore the Austrian economy too this year is taking a breather. The Russia/Ukraine crisis and the tensions in the Middle East have blighted sentiment in the Austrian economy at the start of autumn on a broad scale.

October 17, 2014

Lower Austria's Ecoplus International Celebrates 10 Years and 1500 Executed Projects

The EU's eastward enlargement brought Lower Austria into the center of a new, dynamic economic area. In order to make use of the chances which emerged for the lower Austrian economy, Ecoplus International GmbH in cooperation with the Raiffeisenlandesbank Niederösterreich-Wien was set up. 10 years later the subsidiary has already overseen 1500 projects.

October 16, 2014

Austrian Chamber of Commerce Hosts the "Make in India" Launch Event

The Indian Embassy in Vienna in cooperation with the Austrian Chamber of Commerce, organized the "Make in India" launch event at the WKO in Vienna. The main focus of the event was the recently announced “Make in India” campaign.

October 15, 2014

Vienna University of Economics once again Secures #22 in the „Financial Times“ Ranking

In the annual assessment of the best management programs worldwide the Vienna University of Economics and Business Administration (WU) is once again among the top 25 best institutions. The program "International Business" (IBW) secured 22nd place in the „Global Masters in Management 2014“ ranking of the „Financial Times“.

October 15, 2014

Indian Embassy in Vienna Launches ‘Make in India’ Campaign

India's new Prime Minister Narendra Modi launched the ‘Make in India’ campaign, aimed at reviving the job-creating manufacturing sector. India's Mission in Vienna will be organizing a business event focusing on “Make in India” on 9th November at the Austrian Chamber of Commerce, followed by events in other provinces. The campaign includes invitations to Austria’s top companies to explore investment possibilities in India.

October 7, 2014

Update: Enquiry into TTIP and CETA Agreements

Details about the negotiation progress at Austria’s National Assembly have meanwhile been released. The Transatlantic Agreement CETA with Canada and the TTIP agreement with the USA have been cause for disagreements. The assembly has adopted a motion for resolution of the Social Democratic Party (SPÖ) and Austrian People’s Party (ÖVP) concerning the transatlantic economic agreements with Canada (CETA) and the USA (TTIP). The motion calls for transparency of negotiations and ratification of the agreements by national parliaments.

September 25, 2014