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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
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