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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
Government: Different Opinions on Taxation
The social democrats want to re-introduce the inheritance tax. The people´s party plans to raise tax quotas for the 13th and 14th salary.
January 3, 2012
Sorger Asks For Investments in Education and R&D
The President of the Federation of Austrian Industries (IV), Veit Sorger, calls for future investments.
January 3, 2012
café & Co Achieves Substantial Sales Growth
The Austrian coffee dispenser caterer records a 11% sales increase, which is due to business growth in Eastern Europe.
January 3, 2012
Uniqa´s Czech Subsidiary Beats Market Growth
The Czech subsidiary of the Austrian insurance group achieved an 11% premium income growth, which is significantly beyond the market growth (1.8%).
January 3, 2012
Too Little Competition for Energy and Pharmaceuticals
According to the Austrian institute of economic research (WIFO), electricity, energy and pharmaceuticals are too expensive.
January 2, 2012
Austrian Enterprises Fear Nationalization in Hungary
Nationalization plans induce fierce criticism against the Hungarian Government. The Austrian waste management industry would be hit hard.
January 2, 2012
Slight Decrease in Unemployment
In December 2011, the Austrian unemployment rate was 8.2%, which is slightly below the previous year´s level.
January 2, 2012
Austrian Government Debt Stands at € 214bn
Austrian government debt in relation to GDP declined slightly to 71.6%. Social insurance carriers reduced their debt by 49.5%.
December 30, 2011
Opposing Production Trends in Industry and Construction in September 2011
Total turnover went up by 9.5% year-on-year and reached € 23.0bn. Employment figures increased by 1.8%.
December 30, 2011
Construction Output Up by 1.4% from January to September
Construction of buildings increased by 7.8% while output in civil engineering declined by 6.5%. Volume of orders was up by 8.1%.
December 30, 2011
Austrians to Reduce Spending in 2012
Most people want to cut back on food and beverages, consumer electronics and holidays.
December 29, 2011
Industry Wants to Suspend Banking Tax
The new capital requirements for banks are criticized by the Federation of Austrian Industries and the research institute WIFO.
December 29, 2011
Insurance Industry Records Decline in Premiums
Total premiums written dropped by 0.41% in the period from July to September. The life insurance business was down 7.93%.
December 29, 2011
Austrians Want to Save More
According to a survey by ING International Study, 26% of the interviewed persons want to save more money. Optimism is decreasing.
December 28, 2011
Critics for FMA and Central Bank
Michael Ikrath, general secretary from Austrian Sparkassen, criticizes the Financial Market Authority and the Central Bank for equity requirements imposed on domestic banks.
December 28, 2011
Schlumberger Achieves Strong Sales Growth
The Viennese sparkling wine company records a 19% sales growth.
December 28, 2011
Bank Austria Expects Positive Results
In spite of high losses in the third quarter, the subsidiary of the Italian UniCredit forecasts slight, but positive results.
December 28, 2011
40% of Austrian Employees Work In Spite of Illness
The feared loss of the job is one of the most important reasons, says a survey by the Chamber of Labor.
December 27, 2011
Austrian SME Become More Cautious
Due to the weak economy, the euro-crisis, the decrease in public expenses and equity requirements, small and medium-sized enterprises are more reluctant for investments.
December 27, 2011
Austrian Government Wants to Save € 10bn
The coalition partners agreed to cut expenses by € 2.0bn per year until 2016. Details were not published.
December 27, 2011
Production Index Up by 3.0% in October
Production index in October 2011: +3.0% compared to October 2010, -0.3% against September 2011.
December 23, 2011
Moody’s Keeps Austria’s AAA
The rating agency points to Austria’s economic strength and attempts to introduce a balanced budget requirement in the constitution.
December 23, 2011
SPÖ Wants to Defend State’s Stake in Telekom Austria
According to State Secretary Andreas Schieder, the ÖIAG should defend its shareholding of 28%.
December 22, 2011
Agrana Increases Earnings in First Three Quarters
The Austrian sugar and starch company expects revenues of € 2.5bn fort he full year 2011/12.
December 22, 2011
OeNB Sees No Signs for Credit Crunch
The Austrian Central Bank reports a stable development of new lending. The volume of new corporate and private loans is growing at 2% each.
December 21, 2011
Crisis Reaches Austria’s Real Economy in 2012
Economic growth will collapse next year, investment activities and consumption will suffer from the crisis. A recovery is expected for 2013.
December 21, 2011
Brain Force Achieves Operative Turnaround
The Austrian software company reported growth in revenues of 2% in 2010/11. Profit after tax was down to € -1.37m.
December 21, 2011
Siemens Austria Reports Strong Performance
The Austrian subsidiary of the German technology group shifts € 1.0bn dividends to its headquarters. Operating results were highly satisfying.
December 20, 2011
Business Insolvencies Declining
In spite of the economic cool-down, private as well as business insolvencies were going down in 2011.
December 20, 2011
Increase of Agricultural Income
First estimates of the Economic Accounts for Agriculture (EAA) compiled by Statistics Austria show an average increase of the income related to agricultural activities.
December 20, 2011
Immofinanz Reports Outstanding Results
The Austrian real estate group going strong in the first half of 2011/12: Group result has more than doubled compared to the previous year. Net Profits are up by 145%.
December 20, 2011
Resistance Against VBAG´s Structural Plans
The Austrian VBAB recently announced to restructure their group. However, the idea of a “bad bank” is seen as disadvantageous.
December 20, 2011
Substantial Gender Difference in Full-Time Employment
In Austria, 4.03 million employees counted for 3.54 million full-time equivalents in 2010. The gender gap is significant.
December 20, 2011
Felderer Expects Structural Changes
The head of the public debt committee, Bernhard Felderer says that new taxes are inevitable.
December 20, 2011
Rise in Profits Expected for Immofinanz
Tomorrow, on Tuesday, the Austrian real estate company presents its results for the second quarter. EBIT should rise significantly.
December 19, 2011
Sanochemia Achieves Turnaround
The Austrian pharmaceutical company could turn net results and EBIT into the profit zone. Sales were up too.
December 19, 2011
Fekter Pushes for Further Austerity Measures
The Austrian Minister of Finance, Maria Fekter (ÖVP), announced that the planned austerity measures will not be sufficient. The coalition partner SPÖ is upset.
December 19, 2011
Austerity Package for Austrian Railways?
According to media reports, the Austrian Railways (ÖBB) faces drastic steps. Among others, a hiring freeze is discussed.
December 19, 2011
Oberösterreichische Versicherung Raises Premium Income
The Upper Austrian regional insurance company expects to record results slightly below the previous year´s level.
December 19, 2011
Austrian Poverty Rate Unchanged
EU-SILC 2010: No increase of the at-risk-of-poverty rate due to the economic crisis; declining living conditions for the poor in a long-term perspective.
December 17, 2011
S&P: Austria Faces Recession
The rating agency forecasts shrinking economic output for countries with large exports.
December 17, 2011
Stagnation Expected for Austria
The Austrian economy is weakening steadily into the New Year. The Bank Austria Business Indicator continued to decline in November turning slightly negative as in the previous month.
December 17, 2011
Austrian Unemployment Fell Significantly
The Austrian labor market records more employees. The number of unemployed decreased, vacancies were going down in the third quarter of 2011.
December 17, 2011
Energie AG Achieves Strong Growth
The Upper Austrian energy provider recorded an increase in sales of 12.2% in the fiscal year 2010/11. EBIT was down by 2.6% to € 125.6m.
December 16, 2011
Uniqa Grows Quickly in Bosnia and Herzegovina
The insurance company’s premium volume increased by 14% in the first three quarters of the year.
December 16, 2011
Wolford Reports Drop in Earnings
The Austrian clothing company recorded sales of € 73.6m in the first half of FY 2011/12. EBITDA came in at € 6.6m slightly lower than in the previous year.
December 16, 2011
OeNB: Developments in the Sovereign Debt Crisis Will Be Crucial for Financial Stability
The Austrian National Bank (OeNB) presented the 22nd Financial Stability Report.
December 16, 2011
Austrian Companies Have € 8.5bn Cash on Hand
ATX and Prime Market companies‘ money holdings amounted to € 8.5bn in Q2 2011. Investments totaled € 1.5bn.
December 15, 2011
Rising Number of Private Insolvencies
Mobile phone and car expenses are causing most private insolvencies in Austria.
December 15, 2011
Inflation Rate Climbs Back to 3.6%
Consumer price inflation went up again in November 2011. Above-average price increases were registered for traffic and household energy
December 15, 2011
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