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Get the latest business news and analysis on the Austrian economy, including news on economic policies, foreign trade, financial developments and investments

Bawag Sues Linz For € 418m

The U.S.-owned bank now sues the Upper-Austrian capital. Linz has terminated a swap contract based on Swiss Francs.

November 8, 2011

Salaries Increase by 3.0%

For 2012, Austrian salaries will rise by 3.0% on average. This is beyond the inflation rate by 0.8%.

November 8, 2011

Stable Results for bwin.party

The British-Austrian gambling company reports solid third quarter performance driven by strong growth in casino, new games in Italy and improved competitive position in dotcom poker

November 8, 2011

Good Outlook for Raiffeisen Investment

The Austrian merger advisor Raiffeisen Investment AG posts deal volume of € 3.5bn for the first three quarters 2011. Further projects are negotiated.

November 8, 2011

Growth Potential in CEE Banking Sector

The Austrian Raiffeisen Bank International has a very favourable growth outlook for six CEE banking markets representing 80 per cent of the region's total banking assets

November 8, 2011

Imports Grow Stronger Than Exports

According to preliminary results by Statistics Austria, total imports amounted to €85.39 bn and total exports amounted to € 80.08bn in the period January to August 2011.

November 8, 2011

No Surprises Expected for Telekom Austria

UniCredit forecasts EBITDA of € 398m for the third quarter of Telekom Austria to Activities in Belarus are still seen as potential risk factor.

November 8, 2011

Intercell Still Reports Losses

The Austrian pharmaceutical company could reduce its net losses from € 50.8m to € 20.62m. For the full year the net loss expectations ranges up to € 40m.

November 8, 2011

Andritz Reports Rise in Sales, Earnings and Profits

As expected the Austrian technology Group Andritz achieved a significant increase in all relevant financial key figures in the third quarter of 2011 compared to the previous year’s reference period.

November 8, 2011

Concerns About Austria´s Finance

Due to missing infrastructure projects, Austria loses € 28bn year by year. The President of the Audit Court, Josef Moser, regards the situation of Austria´s finance as dramatic.

November 7, 2011

Wienerberger: Analysts See a Strong Rise in Results

The Austrian brick manufacturer will, according to analysts, report a substantial rise in sales and earnings. The figures will be presented the day after tomorrow.

November 7, 2011

Austria Has Third-Highest Pension Costs in Europe

Austria´s expenditures for retires reached 12.7% of ist GDP. Only France and Italy surpass Austria. Sustainability of the domestic pension system improved slightly.

November 7, 2011

Wholesale Prices Still on the Rise

Austrian wholesale price index in October 2011: +6.2% against October 2010.

November 7, 2011

C-Quadrat Announces Lower Net Profits

Net profits of the Austrian investment fund company for the period amounts to € 2.5m after 9.3m in 2010. Management fees were up by 35%.

November 7, 2011

Scepticism in Carinthian Industry

The current situation is satisfying in the Carinthian industry. However, for the future, many industrialists are less optimistic.

November 5, 2011

Capital Increase for Energie AG

The Upper-Austrian regional energy provider will raise its capital by € 200m.

November 5, 2011

Hungary Rejects Further Bank Charges

Contrary to its initial plans, Hungary will not resolve further aid measures for domestic loan takers. The government is seeking for cooperation with concerned banks.

November 5, 2011

Moody´s Considers Downgrade of Erste Group

The rating agency says that a downgrade of the long-term rating of Erste Group from “Baa1” to “Baa2”is probable.

November 5, 2011

Federal Railways: Debt Burden € 15.2bn

The Austrian Minister of Infrastructure, Doris Bures, announced the amount of debt for Austrian Federal Railways and Asfinag.

November 5, 2011

Andritz: Analysts Optimistic

The Austrian engineering and technology group Andritz is expected to report a significant rise in sales, earnings and profits.

November 5, 2011

Austrians Increasingly Pessimistic

According to a survey, Austrians fear that similar developments to Greece will also occur in their country. Confidence in politics still worsens.

November 5, 2011

New Speculations about Austria’s Triple-A Rating

Current rumors about a possible downgrade are unfounded, according to a ministry spokesman.

November 4, 2011

Austrian Wage Increases below European Average

Real incomes are expected to go up by 0.8% next year. The average rate for Europe will be 1.3%.

November 4, 2011

No Signs of Slowdown at AMAG

The Austrian aluminum company reported solid growth figures for the first nine months of the year. Sales increased by 15%, EBIT was up 22% to € 90.7m.

November 4, 2011

Austrian Households Control Assets worth € 471bn

Despite a declining savings rate, households remain the most important provider of capital to domestic banks.

November 3, 2011

RHI Anticipates Slowdown in Business

The negative trend could come to an end in the second quarter of 2012. In the first nine months of the current year, the Austrian producer of refractory materials increased revenues and profit.

November 3, 2011

KTM Heading for Record

The Austrian motorcycle manufacturer increased turnover by 12%. Previous year’s profit was already exceeded in the first three quarters of 2011.

November 3, 2011

Decreasing Importance of Blue Collar Worker´s Income

The share of wages in employed income decreases. The difference between blue collar and white collar workers further goes up.

November 2, 2011

Linz Believes in Victory Over BAWAG

The capital of the province of Upper Austria filed a lawsuit against Bawag, which is held by the U.S. investment funds Cerberus.

November 2, 2011

No Nationalization of Austrian Banks

The head of the Austrian bank holding company Fimbag, Klaus Liebscher, believes that Austrian major banks do not need further capital provided by the state.

November 2, 2011

Exports to Colombia to Surpass € 100m

Austrian exports to Colombia will exceed € 100m this year, reports the Austrian Chamber of Economics. Colombia has a strategic character for Austrian companies.

November 2, 2011

Austria Intensifies Economic Relations to Serbia

The President of the Viennese Chamber of Economics, Brigitte Jank, meets Serbian Ministers in Belgrade and sees a huge potential for Austrian companies.

November 2, 2011

Business Crime: Every Second Firm Concerned

In Austria, business crime becomes more and more obvious. Often alertness is not really given.

November 1, 2011

BWT Wants to Become More Visible

The Austrian water technology company knows its main problem very well. Despite a solid business and a high degree of innovation, BWT is not very well-known.

November 1, 2011

Austrian Unemployment on the Rise

In spite of its low level compared to other EU-countries, the number of unemployed persons increased up to 300.000 in October.

November 1, 2011

Austrian Trade With China to Double

On the occasion of the state visit of the Chinese President Hu Jintao, the Austrian Minister of Economics stated to aim a deepening of the bilateral economic relations.

November 1, 2011

Good Prospects for AMAG

The Austrian aluminum company expects satisfying results for the third quarter of 2011. Also analysts have high sales and profits estimations.

November 1, 2011

Nationalization of Banks Not Excluded Anymore

According to the Minister of Economics, Reinhold Mitterlehner, in the worst case scenario a partly nationalization of banks could take place.

October 31, 2011

Nowotny Expects Lower Growth Rates

The head of the Austrian Central Bank (OeNB) Ewald Nowotny lowers the growth estimation for the Austrian economy.

October 31, 2011

Austria Keeps Lowest Unemployment Rate in EU

The EU27 unemployment rate was 9.7% in September 2011, compared with 9.6% in August4. It was 9.6% in September 2010. Austria leads the official statistics.

October 31, 2011

Austrian Industrial Production Increasing

Opposing production trends in industry and construction in July 2011; turnover +7.4%.

October 31, 2011

State Visit: Hu Jintao in Austria

The Chinese President Hu Jintao arrived in Austria. Today the official meetings with the Austrian President Heinz Fischer and the Government will take place.

October 31, 2011

Unequal Distribution of Wealth in Austria

The richest 10% of Austria´s population possess 54% of the monetary wealth. Regarding real estate, inequality is observed too.

October 30, 2011

Erste Group´s CEO Wants to Avoid Further State Aid

Andreas Treichl, CEO of the Austrian major bank Erste Group, wants to prevent a further influence of the Austrian state.

October 29, 2011

Agricultural Exports Show Significant Rise

The Austrian agricultural exports reached almost their all-time high from 2008. Especially Italy is becoming increasingly important.

October 29, 2011

Silhouette Will Remain in Linz

For several years, the Austrian manufacturer of glasses experienced declining sales. Nevertheless, the management is optimistic.

October 29, 2011

High Expectations for RHI

Analysts forecast a substantial rise in sales for the Austrian refractory manufacturer. However, profits should decline, analysts state.

October 29, 2011

Orban Attacks Austrian Banks

The Hungarian Prime Minister Viktor Orban wants to release his country from the “debt slavery” and criticizes Austria´s reactions.

October 29, 2011

„Austria´s Triple A Not in Danger“

For the Austrian Minister of Finance, Maria Fekter, the status of the domestic economy is “well prepared”.

October 29, 2011

Croatian Parliament Abolishes 6% Mobile Service Tax

The local subsidiary of Telekom Austria benefits from the abolition of the special tax which caused expenses of € 15.2m in 2010.

October 28, 2011