Vienna International Business News | Economic | Investment | Financial - Vindobona.org

ÖBAG: Attorney Edith Hlawati to Succeed Thomas Schmid

The Supervisory Board of Österreichische Beteiligungs AG (ÖBAG) has appointed the internationally recognized business lawyer Dr. Edith Hlawati as the new Chief Executive Officer of ÖBAG. She will succeed Thomas Schmid and take over the management of the state holding on 1 February 2022. Learn more about her and the selection process.

August 30, 2021

Austria's Ex-Vice Chancellor Strache Found Guilty of Corruption

Former vice chancellor and the ex-head of the Austrian Freedom Party (FPÖ) Heinz-Christian Strache has been sentenced to 15 months' conditional imprisonment for bribery at Vienna's regional court. The co-defendant and owner of the private clinic in Vienna-Währing, Walter Grubmüller, was sentenced to twelve months for bribery, also on probation.

August 27, 2021

The Chamber of Commerce Switzerland-Austria-Liechtenstein Turns 100 Years Old

The Chamber of Commerce Switzerland-Austria-Liechtenstein or Handelskammer Schweiz-Österreich-Liechtenstein (HKSÖL) has supported economic relations between the countries for 100 years. They provide professional assistance to companies in these countries and Central and Eastern Europe. The HKSÖL has facilitated a particularly successful economic relationship between Austria and Switzerland. Read more about what the HKSÖL does and the Austro-Swiss economic relationship.

August 27, 2021

Soros Becomes Key Sponsor of the Forum Alpbach

Forum President Andreas Treichl, former boss of the Erste Group, has succeeded in acquiring US philanthropist George Soros (91), the founder of the Open Society Foundations (OSF), as a sponsor of the European Forum Alpbach, the annual exchange of ideas in the Tyrolean mountains.

August 27, 2021

Austrian Chamber of Labour and Ombudsman Board: Family Allowances Delayed for Months

Families in Austria are complaining about their family allowances being delayed for months. The President of the Austrian Federal Chamber of Labour Renate Anderl and Ombudsman Bernhard Achitz have expressed serious concerns about the issue and blame staffing shortages at the Federal Ministry of Finance for the delays.

August 25, 2021

Austrian Business Agency: René Tritscher Succeeds René Siegl

René Tritscher has succeeded René Siegl as the new Managing Director of the Austrian Business Agency (ABA). Read about Mr. Tritscher's views on the future of the agency, as well as his previous experience working for ABA - WORK in AUSTRIA and the Austrian Economic League (Österreichischer Wirtschaftsbund).

August 24, 2021

Importance of Economic Relations Between the United States and Austria

The American Chamber of Commerce in Austria (AmCham Austria) presented a new study on the importance of economic relations between the United States and Austria. AmCham also provided a position paper with five key recommendations to the Austrian Minister for Digital and Economic Affairs Dr. Margarete Schramböck and Secretary-General of the Austrian Foreign Ministry Peter Launsky-Tieffenthal. Read about the findings of the study and AmCham's recommendations.

August 23, 2021

Casinos Austria International in Japan: Casino Resort Milestone Completed

CAI, a wholly owned subsidiary of Casinos Austria AG, has cleared an important hurdle in an elaborate selection process in Japan (Nagasaki Prefecture) for one of the three casino licenses to be awarded.

August 20, 2021

City Diplomacy: What Connects the German-Speaking Capitals Berlin, Bern and Vienna

Mayor of Berlin Michael Müller, Mayor of Bern Alec von Graffenried, and Mayor of Vienna Michael Ludwig met in Vienna to exchange experiences and learn from each other. The three mayors drew up a joint declaration that addressed climate change, affordable housing, economic resiliency from the COVID-19 pandemic, and democracy and the rule of law.

August 19, 2021

Vienna's New International Long-Distance Bus Terminal

Construction on Vienna’s new international long-distance bus terminal funded by Donau Busterminal Realisierungs GmbH and designed by Burtscher-Durig is set to begin by the end of 2022, and the terminal is expected to be operational by 2024 or 2025. Read more about the estimated project costs of 200 million euros and some of the advantages it presents to international travelers.

August 18, 2021

Latest Corona Update: The Austrian Green Passport - What Is It For?

The Green Passport is now being used by many people to provide proof of vaccination, recovery, or a negative test for COVID-19 in Austria and throughout the EU. Learn more about what the "Green Passport" is and what it is used for.

August 17, 2021

Blümel: We Are Continuing to Help Those Businesses That Need It

Austrian Finance Minister Gernot Blümel announced that businesses can apply for two types of aid to help mitigate struggles due to the ongoing COVID-19 pandemic and economic crisis. The default bonus II has been adapted and extended until the end of September, and the loss replacement until the end of the year.

August 16, 2021

Mückstein Announces Ten Million Euros for International Projects in Health and Social Sector

Austrian Health Minister Wolfgang Mückstein announced that Austria will provide ten million euros for European and international projects to address the health and social consequences of COVID-19. The projects are particularly targeted at women and girls, refugees and vulnerable groups that have been significantly affected by the health and economic consequences of the pandemic.

August 13, 2021

Austrian Airlines CEO: "The crisis does not allow for a sigh of relief"

A report shows that Austrian Airlines, like the airline industry as a whole, is still suffering greatly from the COVID-19 pandemic. CEO Alexis von Hoensbroech acknowledges that 2021 has been better than 2020 so far, but the airline is still a long way from reaching pre-pandemic numbers.

August 9, 2021

The New Austrian Identity Card: Modern and Forgery-proof

Experts from the Austrian Ministry of the Interior, Federal Criminal Police Office, and Austrian State Printing House have developed a modern and more secure identity card. The release of the cards is accompanied by a new mobile phone app that allows users to verify the authenticity of the new cards.

August 6, 2021

Austrian Wholesale Prices: Largest Increase Since March 2011

In July 2021, wholesale prices saw their largest year-over-year increase since March 2011. The increases can be seen in the steel industry, gas industry, agricultural industry, and more. Read about which other industries the increases are affecting and just how significant the increases are.

August 6, 2021

Real Estate: Property Becoming Increasingly Expensive in Austria

Real Estate prices continue to rise in Austria despite the COVID-19 pandemic. While the property market is becoming increasingly expensive, rents in Vienna remain fairly affordable. Learn the new cost of buying property in Austria and how it compares with the rest of Europe.

August 5, 2021

Where to Get a Paid Corona Test in Vienna

Vienna offers many COVID-19 testing options, both free and paid. Read about where to get paid PCR-tests, antigen tests, and or antibody tests for the coronavirus in Vienna.

August 4, 2021

Economic Opportunity: Malaysian-Austrian Joint Statement on Cooperation

Malaysian Minister of International Trade and Industry Mohamed Azmin Ali met with the Austrian Minister of the Economy Margarete Schramböck. The pair discussed cooperation in the high-tech industry, education and more. The two ministers also signed a joint statement, affirming Malaysia and Austria's intention of further economic cooperation.

August 3, 2021

Pioneering Hydrogen Alliance between the United Arab Emirates and Austria

On the occasion of the visit of the Ruler and Crown Prince of the Emirate of Abu Dhabi, Sheikh Mohamed bin Zayed bin Sultan Al Nahyan to Austria, the United Arab Emirates (UAE) and Austria agreed on a strategic partnership. The core of the agreement is closer international cooperation in the fields of hydrogen, renewable energy, youth exchange, green technologies, digital economy and research, according to the UAE Embassy in Vienna and Chancellor Kurz.

August 1, 2021

Vienna International Airport: Current Situation for Arriving and Departing Passengers

Before traveling through Vienna International Airport, it is important to be up to date on the current regulations regarding COVID-19. Read about entry requirements, PCR testing at the airport, and more.

July 30, 2021

Can I Get Free COVID-19 Tests at Vienna Airport and How Does It Work?

PCR and rapid antigen tests for COVID-19 are available at the Vienna International Airport. However, they are not free, and there is a process for getting one. Learn more about the specifics here.

July 29, 2021

Vienna Airport: Resumption of Flights to Toronto, Abu Dhabi, Riyadh and Jeddah

Vienna International Airport announced the resumption of flights to Toronto, Canada; Abu Dhabi, UAE; and Riyadh and Jeddah, Saudi Arabia. The flight resumptions will also provide more connection opportunities to other destinations around the globe.

July 28, 2021

Croatian-Austrian Relations: Support for the Planned Schengen Accession

Croatian Foreign Minister Gordan Grlić-Radman recently met with Austrian Foreign Minister Alexander Schallenberg in Zagreb. The pair discussed the planned accession of Croatia into the Schengen area, as well as safe travel practices for the summer.

July 27, 2021

Opening of the 75th Bregenz Festival

After being canceled in 2020 due to the COVID-19 Pandemic, the 75th anniversary of the Bregenz Festival is finally happening. President Alexander Van der Bellen gave a passionate address about climate change and other issues at the opening of the festival.

July 22, 2021

What Is the Joint Vienna Institute and What Does It Do?

The Joint Vienna Institute (JVI) is a Vienna based International Organization which provides policy-oriented training primarily to public sector officials from countries in Central, Eastern and Southeastern Europe, the Caucasus and Central Asia, and other selected countries. It has been a hallmark of cooperation between the IMF and Austria for 29 years. Find out how the institute justifies its existence.

July 22, 2021

Mayor Ludwig Announces Mask Requirement Remains in Vienna

Mayor of Vienna Michael Ludwig announced that, due to an increase in COVID-19 cases, masks would still be required in shopping and retail stores in Vienna. This decision comes despite an easing of COVID restrictions by the federal government.

July 22, 2021

The Future of Tourism in Vienna Lies in Overseas Guests

Vienna International Airport and Vienna Tourist Board have extended their cooperation with the aim of acquiring international long-haul connections. They believe the future of the tourism industry in Vienna, especially coming out of the COVID-19 pandemic, depends on attracting more overseas guests. Find out why.

July 21, 2021

Opportunities for Businesses in India and Austria

The Ambassador of India to Austria, H.E. Jaideep Mazumdar, and the President of the Federation of Austrian Industries discuss collaboration between Indian and Austrian companies.

July 19, 2021

The Rich in Austria: Dollar Millionaires Up 5.3 Percent to Record 163,300

The number of so-called high net worth individuals (HNWIs) in Austria grew by 5.3 percent from 2019 to 2020 to 163,300 dollar millionaires. This is 8,200 more HNWIs than in the same period last year.

July 17, 2021

Building Permits in Vienna Reach Record Levels in 2021

In positive news for the construction industry, reports show that building permits in Vienna have reached record levels in the first quarter of 2021. They also show an interesting trend in Lower Austria.

July 16, 2021

Corona Year 2020: Austria's Foreign Trade with Sharp Declines Compared to the Previous Year

The effects of the Covid-19 pandemic led to a significant decline in the overall Austrian foreign trade values (imports -8.6% and exports -7.5%). Following are the exact developments of the regions and details on the most important trading partners.

July 16, 2021

City of Vienna and Vienna Business Agency Create New Business Immigration Office

The Vienna Business Agency and Vienna City Government have partnered to create the Business Immigration Office (BIO). The BIO will help streamline residence permit and immigration issues and offer help with integration for key personnel and highly skilled workers.

July 15, 2021

Public Transport in Austria: When and How Will the Low-Cost Flat-Rate "1-2-3-Ticket" Be Introduced?

Before the end of 2021, it is to become possible to use all means of public transport throughout Austria for three Euros a day, as part of an annual ticket for 1,095 Euros. While six federal states have signed an "implementation agreement," the states of Vienna, Lower Austria and Burgenland are still missing. What is the next step and when can the ticket be expected?

July 14, 2021

UK to End Quarantine for People Vaccinated in the UK Returning from Austria

United Kingdom Prime Minister Boris Johnson announced that the government would begin easing COVID-19 restrictions for England on 19 July. People vaccinated in the UK will no longer be required to quarantine when returning from "Amber List" countries like Austria. Read more about this and what else the PM said will change.

July 13, 2021

Latest Travel Restrictions Between the United Kindom and Austria

There are still travel warnings regarding travel between the United Kingdom and Austria due to the spread of COVID-19 variants. Germany and some other EU countries are loosening restrictions on vaccinated Britons, but travelers should still expect to quarantine when traveling from Austria to the UK. Learn more about the latest travel restrictions between the two countries.

July 12, 2021

Arab Ambassadors in Vienna and Economic Relations between their Countries and Austria

The Ambassadors from Egypt, Iraq, Jordan, Morocco, Oman, Palestine, Qatar, Tunisia, and the UAE to Austria provided an economic overview of their countries and their relationship with Austria in an online forum with the Austro-Arab Chamber of Commerce (AACC).

July 11, 2021

Latest Travel Restrictions From Austria to the USA

Travel to the USA from Austria is still restricted due to COVID-19, but the US Embassy Vienna has provided rules for National Interest Exceptions (NIE). Learn more about them before traveling.

July 8, 2021

Handy-Signatur in Austria: What It Is and How to Get It

The Handy-Signatur is an important tool to have in Austria. It is useful for accessing many online portals, including health insurance and the new Green Pass for proof of COVID-19 vaccination. Learn more about it.

July 8, 2021

Krakow and Vienna Will Cooperate Closely in the Future

The Polish city of Krakow and Austria's capital Vienna have entered into a cooperation agreement, which lasts for the next four years. Krakow's Mayor Jacek Majchrowski and his Viennese counterpart Michael Ludwig will be working together on various topics. Read all about the agreement below.

June 30, 2021

German-Speaking Heads of State: "Possibility of More Sustainable and Resilient Era"

The heads of state of German-speaking countries met in Germany to discuss social cohesion after the Covid-19 pandemic and using the pandemic to move into a "more sustainable and resilient era". Read more about the meeting below.

June 30, 2021

Austrian-Based EU Strategy for the Danube Region Celebrates Anniversary

The EU Strategy for the Danube Region celebrates its 10th anniversary by highlighting its importance and contribution to Europe. 14 countries with a population of around 115 million people make up one of the strongest economic forces on the European continent.

June 29, 2021

Weekly Briefing: Austria Prepares for a "Summer Like Back Then"

Austria is getting ready for a summer with (hopefully) little Covid-19 impact. Night life will be celebrating its full return in a week from now and travel with the Green Passport should become easier as of July 1 as well. The Find out more about this week's developments.

June 24, 2021

Kosovo's President Meets Van der Bellen in Vienna

Kosovo's President Vjosa Osmani-Sadriu traveled to Vienna to meet with her Austrian counterpart Alexander Van der Bellen. The main topics of their discussion were the progress in the EU accession process and bilateral cooperation in various fields. Read more about the meeting below.

June 24, 2021

Saudi Arabia Aims to Deepen Relations with Austria

During a working visit by the Saudi Arabian Foreign Minister Prince Faisal bin Farhan bin Abdullah Al Saud in Vienna, he and his Austrian counterpart Alexander Schallenberg have agreed on expanding trade relations and other economic cooperations. Read more below.

June 23, 2021

Schallenberg and EU Foreign Ministers Agree on Sanctions Against Belarus

At the Foreign Affairs Council (FAC) the EU Foreign Ministers have agreed upon renewed and tightened sanctions against the Belarusian regime. Austrian Foreign Minister Schallenberg warns that the agreed measures must not hit the civil society. Read more below.

June 22, 2021

Von der Leyen Approves Austrian Economic Comeback in Vienna

During her visit to Vienna, EU Commission President Ursula von der Leyen has delivered the good news that Austria is to receive EUR 3.5 billion worth of EU grants. The budget will be mainly available for investments and reforms in the areas of environmental and digital transformation.

June 22, 2021

Weekly Briefing: Return to Normality in July

The Austrian government has announced the reduction of restrictions as of July 1. Three weeks later, some more relaxations could be implemented. Are the coming weeks the last ones of the pandemic? Find out more about this week's developments.

June 17, 2021

Prague and Vienna Enter Into Cooperation Agreement

The Czech and Austrian capitals have agreed on a cooperation agreement that will cover information exchange in the fields of digitalization, sustainable development, and transport management. Read more about the agreement below.

June 17, 2021

Europa Forum Wachau: "Include Western Balkans in EU Programs"

At the 25th Europa Forum Wachau, Austrian Foreign Minister Alexander Schallenberg spoke out in favor of finding creative approaches to bind the Western Balkan states to the EU even before a possible EU accession.

June 16, 2021