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Vienna International Business News | Economic | Investment | Financial
Get the latest business news and analysis on the Austrian economy, including news on economic policies, foreign trade, financial developments and investments
Austrian Railways Reduced Losses
The Austrian Railways (ÖBB) is still in the red. Nevertheless, losses were lower than initially expected.
January 19, 2012
Austrian Lending Restrictions Under Observation
The plan of the Austrian FMA and OeNB to restrict lending in CEE countries could be a violation of EU-law.
January 19, 2012
Austriamicrosystems Reports Strong Rise in Revenues
austriamicrosystems announces its preliminary financial information for full year and fourth quarter 2011.
January 19, 2012
Vienna International Airport: 7.2% Plus in Passengers
Vienna Airport set a new record in 2011 with a total of 21,106,292 passengers. This year-on-year increase of 7.2% places Vienna above the European average.
January 19, 2012
Austrian Banks Claim to Continue „Vienna Initiative“
In 2009, international banks agreed on maintaining their lending operations in Eastern Europe. Now, the cooperation should be extended.
January 18, 2012
Growth of CEE Banking Sector Above European Average
2012 should remain a challenging year for CEE banking, with regulatory changes and European debt crisis as main risk factors, but Western European banks´ deleveraging should be a manageable drag.
January 18, 2012
Oberbank Satisfied with 2011 Results
The Austrian Oberbank achieved “excellent“ results last year, CEO Gasselsberger stated. Profits were up by 5.5%.
January 17, 2012
Signs for Economic Stabilization
The Austrian Central Bank (OeNB) sees signs that the economic downturn trend can be stopped. A small growth in 2012 could be possible.
January 17, 2012
SBO Reports Strong Rise in Earnings
Schoeller-Bleckmann Oilfield Equipment AG (SBO), listed on the ATX market of the Vienna Stock Exchange, again posted a remarkable increase in sales and profit in fiscal 2011.
January 17, 2012
Government to Sharpen Austerity Measures
After the downgrade of Austrian sovereign bonds from „AAA“ to „AA+“ by S&P, the Austrian government aims to reach its austerity targets earlier.
January 17, 2012
Inflation Reached 3.3% in 2011
Annual rate of the Consumer Price Inflation went up to +3.3 % (HICP: +3.6%) in the year 2011. Inflation in December went down slightly.
January 16, 2012
2012 Brings Stagnation for Austrian Economy
According to Bank Austria´s economic indicator, Austrian economic growth will only reach 0.8% this year.
January 16, 2012
Uniqa: Strong Growth in Premium Income
The Austrian insurance company announced to have achieved 20% growth in Bulgaria.
January 16, 2012
Austrian Labor Market is Stable
The Minister of Social Affairs, Rudolf Hundstorfer, strikes a balance of the labor market in 2011 and refers to the lowest unemployment rate in the EU.
January 15, 2012
Downgrade: „It´s Time to Take Action“
The downgrade of Austria´s rating from “AAA” to “AA+” caused mixed reactions. The Austrian economy urges for structural actions.
January 15, 2012
DiTech Raises Sales by 9.0%
The Vienna-based computer retailer recorded sales of € 105m in 2011.
January 14, 2012
Austria Has 2.2 Million Retirees
Against 2010, the number of retirees was up by 1.3%. The average retirement age did not increase, employment of older persons could improve.
January 14, 2012
Downgrade: Government Surprised and Criticized
For the Austrian government, the downgrade by the U.S. rating agency is „not comprehensible”. The domestic industry urgently claims structural reforms.
January 14, 2012
Austria to Lose its AAA
According to partially confirmed market rumors, S&P will downgrade France and Austria.
January 13, 2012
Study on „Economic Freedom“: Austria Falls
In the global ranking of the U.S. “Heritage foundation”, Austria only occupies rank 28. The government would not introduce enough reforms, bureaucracy would be too high.
January 13, 2012
Bank Austria Lost Madoff Case
Bank Austria distributed Primeo Funds, issued by the U.S. former investment banker Bernard Madoff. The prospectus did not contain sufficient information, a Viennese court decided.
January 13, 2012
Feared Export Slump Did Not Occur
The Austrian export activity slowed down in the fourth quarter, but the pessimistic expectations did not become real. In 2011, Austrian exports were up by 12%.
January 13, 2012
Central European Gas Hub Sets a New Record in Gas Trading
Trading volume of the Austrian gas hub rose to 40 billion cubic metres in 2011. This is an increase by 15% compared to the previous year.
January 13, 2012
South Tyrol Claims Economic Independence
In order to reach the same economic growth level of Germany or Austria, South Tyrol offers € 15.0bn to Italy.
January 12, 2012
Unions Protest Against AUA´s Plans
Austrian trade unions are strictly against new austerity measures at Austrian Airlines. Management wants to negotiate over new collective agreements.
January 12, 2012
Agrana Achieves Significant Rise in Earnings
The Austrian fruit and starch company posts its results for first three quarters of 2011|12. Revenues were up from € 1.62bn to € 1.95bn.
January 12, 2012
Pressure on Hungary Increases
The chairman of the Austrian Central Bank, Ewald Nowotny, sees no danger for Austrian banks from Hungary. EU and IMF criticize the Hungarian government.
January 11, 2012
Zotter Sounds Chinese Market
The Austrian chocolatier Josef Zotter wants to offer his products to Chinese customers. A market entry is considered.
January 11, 2012
3.4% Passenger Increase for AUA
According to Austrian Airlines traffic results, more than 11 million passengers were carried in 2011.
January 11, 2012
Austrian Wage Tax Intake Grows
The Austrian wage tax volume totaled 21.6bn in 2010. Gross wages were up by 2.5%.
January 11, 2012
Slow Growth in CEE Expected
According to Raiffeisen Research, real GDP in CEE to grow by 2.0 per cent in 2012, while Austria set to post GDP decline of 0.5 per cent.
January 11, 2012
Austrian Airlines Records High Losses
Against previous expectations, the Austrian subsidiary of Lufthansa could not improve its results in 2011 compared to 2010.
January 10, 2012
Economic Inequalities between Austrian Regions
Urban regions record a significantly higher income. The economic crisis caused a decline in gross regional product and disposable income in 2009.
January 10, 2012
Fitch: Austria´s AAA-Rating Not Endangered
According to the U.S. rating agency, the financial stability in Austria is still excellent. The bond auction today went well.
January 10, 2012
Hungarian Crisis: BIS Warns Austria Insistently
A collapse of the Hungarian economy would hit Austria very hard, says the Bank for International Settlements (BIS). Austrian Banks have a high exposure.
January 9, 2012
ÖVP Does Not Exclude New Taxes Anymore
Against previous statements, the head of the Austrian conservatives, Michael Spindelegger, considers to introduce new taxes.
January 9, 2012
Austrian Balance of Current Accounts Positive
In the first three quarters of 2011, the Austrian economy achieved a strong performance. The balance of current accounts was significantly positive.
January 9, 2012
„Not Talking Down Austerity Policy“
Bernhard Felderer, head of the Austrian Institute of Advanced Studies (IHS), warns daily issued ideas for new taxes. First signs of a recovery are arising.
January 7, 2012
Austria Grants Highest Subsidies in Europe
In 2010, subsidies amounting to 6.5% of the Austrian GDP were distributed. The EU-average is only the half.
January 7, 2012
Austrian Has Lowest Unemployment Rate in EU
Euro area unemployment rate at 10.3%, EU27 at 9.8%. Austria ranks first with 4.0%. Regarding youth unemployment, only the German unemployment rate is lower.
January 7, 2012
Rise in Private Insolvencies in 2011
Austrian private insolvencies rose by 4.0% in 2011. 9,600 persons were concerned.
January 5, 2012
Zero Growth in Austrian Trade Sector
The Austrian trade sector closes the year 2011 with “zero growth”. The Chamber of Commerce expects “very difficult times” for 2012.
January 5, 2012
„We Are at the Tipping Point“
2012 will be a crucial year for Europe and Austria, says the director of the Austrian Institute of Economic Research (WIFO). The coming decade will be coined by debt reduction.
January 5, 2012
Austrian Economy Pushes for Austerity
In order to prevent new taxes, the Austrian Chamber of Commmerce and the Federation of Industries call for austerity measures.
January 5, 2012
Hungary Becomes Fundamental Risk Factor for Austrian Banks
Over the last weeks, fears of a Hungarian bankruptcy grew drastically. The Hungarian Forint has reached a new record low.
January 5, 2012
Rising Costs for Labor Market Service
The Austrian Labor Market Service (AMS) offered less trainings in 2011. However, costs rose up to € 455m. The AMS management faces critics.
January 4, 2012
Austerity Package: Business Association Warns of New Taxes
New taxes would be an “attack against the economy”, general secretary Peter Haubner says.
January 4, 2012
Thomas Cook Austria Achieves Record Result
The Austrian subsidiary of the Germany Thomas Cook AG recorded a rise in operating profits by 19% in 2011.
January 4, 2012
Hungary: High Losses for Banks
According to the Hungarian banking association, costs for the coerced conversion of foreign currency loans reach about € 952m.
January 4, 2012
Worsening Economic Outlook for 2012
Economists and analysts expect a massive fall in Austrian economic growth for 2012.
January 4, 2012
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