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Vienna International Business News | Economic | Investment | Financial

Austrian Official Debt Level Rises

Due to the EU-wide commitment to a more transparent presentation of liabilities, the official debt ratio of Austria will continue to increase.

December 21, 2010

Austrian Supervisory Boards Come Out Favorably in Worldwide Comparison

According to a KPMG study, Austrian supervisory board members are informed timely and sufficiently about in-house operations.

December 21, 2010

The KSV Publishes Austrian 2010 Insolvency Statistics

The Kreditschutzverband (KSV, Credit Protection Association) has established an 8% decrease in corporate insolvencies.

December 21, 2010

Above-Average Labor Market Data for Austria

Compared with Europe, there are relatively a lot of people of working age employed in Austria. The proportion of unemployed is also low.

December 21, 2010

Brain Force Reports Positive Turnaround

Brain Force Holding AG, an Austrian IT services provider, announced its business results for the 2009/10 fiscal year.

December 21, 2010

ÖIAG: Sale of the Post and Telekom is possible

Peter Michaelis, the departing CEO of the Austrian state holding company (ÖIAG) is considering the sale of interest holdings.

December 20, 2010

Meinl against Atrium: Up to 7,000 Lawsuits

The Austrian bank files lawsuits against the successor company of her former real-estate funds MEL.

December 20, 2010

Further Increases in Prices of Industrial Goods

Increase in industrial producer prices in October 2010 is, according to Statistik Austria, +4.0% compared with the same month last year.

December 20, 2010

Immofinanz Records Increasing Revenues and Earnings

Revenues of the Austrian Real Estate Company were up by 3.3%. EBIT increased by 19%.

December 20, 2010

Higher Dividends at Telekom Austria

Telekom Austria Group Updates its Cash Use Policy and Provides Financial Outlook at its Capital Market Day.

December 20, 2010

WIFO: Economic boom persists, but also risks

The export-driven boom of the Austrian economy continues. Growth will however slow down in the first half of 2011.

December 20, 2010

JoWood is Deep in the Red

The Vienna game developer has to accept a loss of over € 25m in the first three quarters. Sales have fallen sharply.

December 17, 2010

French SNCF Participates in Westbahn Project

The French National Railways acquire a stake of 25% in the Haselsteiner project.

December 17, 2010

Austrian Economic Chamber focuses Growth Market China

Minister of Economy Mitterlehner presented together with the President of the Economic Camber, Leitl, strategies for the export market China.

December 17, 2010

FMA: Solid Performance of Austrian Pension Funds

The Financial Market Authority (FMA) publishes a report on the Austrian pension funds. The performance is diverse. .

December 17, 2010

Allegations of Market Abuse Against ÖBB

The Austrian Federal Railways are facing another accusation by the Federal Competition Authority. Rail Cargo is said to have abused its market power.

December 17, 2010

Austria's Tax Revenues are Higher than Expected

As the economy developed relatively well this year relatively, tax revenues increased. The deficit for 2010 might therefore turn out to be lower than planned.

December 17, 2010

Beko: Sales Drop by 15%

The Austrian IT company Beko Holding AG has to accept sensitive decreases in sales and profits.

December 16, 2010

Controversies About S&T Personnel

The chairman of the Vienna-based IT services provider, Thomas Streimelweger sues the supervisory board because of his dismissal, which he allegedly offered.

December 16, 2010

Accusations Against Sanader Grow Stronger

Many clues point to improper activities by former Croatian Prime Minister Ivo Sanader in connection with the Hypo Group.

December 16, 2010

Inflation falls to 1.9% in November

According to calculations by Statistik Austria, the inflation rate for November 2010 was 1.9% after 2.1% in October. Price drivers are energy and housing.

December 16, 2010

Decline in sales at Siemens Austria

Sales have dropped by 20% but the profit situation is stable. Orders have improved by 14%.

December 16, 2010

Bank Austria´s Economic Analysis: 2% Growth in 2011

The analysis of the Austrian economy forecasts a strong recovery. Improvements in the labour market will continue, but the positive trend weakens.

December 16, 2010

WKÖ: EU patent to stimulate Austrian innovation

The Austrian Economic Chamber (WKÖ) welcomes the enhanced cooperation for the EU-wide patent and hopes to obtain benefits for the domestic economy.

December 16, 2010

EVN Reports Growing Results

The energy provider from Lower Austria could raise its EBIT by 6.9%. EBITDA grew by 11.6%. Revenues remained stable.

December 16, 2010

Changes on the Management Board of Vienna International Airport

After several weeks of controversial discussions, the Supervisory Board announced Christoph Herbst as new CEO. He will succeed Herbert Kaufmann.

December 16, 2010

More Employees in Austria, Purchasing Power and Taxes Remain High.

Austria records an employment increase of 1.2%. Purchasing power and taxes are above the international average.

December 15, 2010

Allianz: Austria's Economic Production has Reached Pre-crisis Level in 2011

Strong exports and government stimulus programs enabled growth. Despite public savings constraint, Allianz expects further upward trends.

December 15, 2010

Austrian Economic Chamber is Against Euro-Bonds

Chamber President Leitl calls for an in-depth cooperation in economic policy instead of euro-bonds.

December 15, 2010

Bene Still Reports Losses

The Austrian manufacturer of office furniture reports an increase in sales by 10.2% in Q3 2010. Sales in Germany dropped by 18.5%. UK market perfomed well.

December 15, 2010

OeNB: Recovery of the Financial System in a Persistently Uncertain Environment

The OeNB considers that domestic banks benefit from the positive development in the CEE region. However, uncertainties stay on as before.

December 15, 2010

Economic Chamber: Cautious Optimism in Austrian Industry

Industrial production is at the level of 2006; exports are still below pre-crisis levels.

December 15, 2010

ATB Group Still Records Losses

The A-Tec division ATB publishes its results for the first nine months: declining sales and losses.

December 14, 2010

Complaint of Unconstitutionality against Securities Capital Gains Tax

Austria banks and investment companies file a complaint before the Constitutional Court against the as of next year introduced tax on securities capital gains.

December 14, 2010

Skylink: Resignation of Executive Board or Supervisory Board

The Vienna Airport Skylink debacle is becoming a political issue. Staffing decisions have been made.

December 14, 2010

Austrians spend about € 2.5bn on gifts

Spending propensity shows a rising trend. Cash is still the most widely means of payment.

December 14, 2010

Risk of Poverty for 12% of Austrians

By 2008, 12.4% of the Austrian populatin is threatened by poverty. The average of the EU countries amounts to 17%.

December 14, 2010

Austria Benefits from Low Loan Interest Rates

Because of low interest rates and spreads, Austria is able to get convenient financing on the loan market. Euro-bonds would mean significant costs for Austria.

December 13, 2010

Changes in Trend for the Austrian Labor Market

Imminent job cuts because of the uncertain business development.

December 13, 2010

Vienna Stock Exchange: Tax on Securities Gains Damages Austrian Economy

Massive disadvantages for Austrian companies because of financing made more difficult are feared by the members of the of the Vienna Stock Exchange board, Michael Buhl and Heinrich Schaller.

December 13, 2010

Economic Chamber: Positive Outlook for 2011

The Business Barometer presents both opportunities and risks for the Austrian economy. Shortage of skills and low investment continue being weak points.

December 13, 2010

Is Austria a Risk Country?

Due to its engagement in Eastern Europe, Austria is partially considered as a potential risk country. Lack of understanding for this assessment is shown by Austria.

December 10, 2010

Economic Chamber: No More Credit Crunch for Austria’s Businesses

A study by the Austrian Economic Chamber shows the high level of satisfaction of local businesses with their banks: the credit crunch has disappeared.

December 10, 2010

Nowotny: No Euro-bonds Yet

Although he supports the euro-bonds in principle, the time has not come yet for the Governor of the Austrian National Bank.

December 10, 2010

WIFO: Austrian Manufacturing Industry in Good Position

The economic recovery driven by exports and the manufacturing industry continued in the fall: the GDP grew 2.4% over the previous year in the third quarter.

December 10, 2010

Workers Count on Early Retirement

Nearly half the Austrian salaried employees do not expect to work until reaching normal retirement age.

December 10, 2010

Corruption in Austria: 9% Pay Bribes

Austria follows the international trend of growing corruption. 25% are ready to pay bribes worldwide.

December 10, 2010

Mitterlehner: New Red-White-Red Card has Advantages for Economy and Location

The "red-white-red-card" is to meet the needs of the Austrian economy for skilled foreign workers.

December 10, 2010

Austrian Economic Chamber Supports Development of the Danube as a Transportation Route

Austrian Economic Chamber President Christoph Leitl supports the EU's Danube region strategy to expand infrastructure between the Danube countries.

December 10, 2010

Bavaria: "Hypo-Sale was Correct"

The issue Hypo Alpe Adria preoccupies not only the Austrian justice: Bavaria's Prime Minister Horst Seehofer defended the sale to Austria.

December 8, 2010
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