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Vienna International Business News | Economic | Investment | Financial

WIFO: Budget Consolidation in the EU is Not Sustainable

WIFO criticizes the consolidation programs of the individual EU countries for being easily enforceable, but containing hardly any sustainable measures.

November 29, 2010

Government Adapts Capital Gains Tax on Securities

Taxation will be implemented from October 1; loss compensation is allowed. There are no essential changes however.

November 29, 2010

Kapsch TrafficCom Increases Revenues by 85%

In contrast to negative earnings in FY10-H1, Kapsch TrafficCom Group, listed on the Vienna Stock Exchange, recorded clearly positive earnings in FY11-H1.

November 26, 2010

Uniqa Records Sharp Rise in Premiums and Profit

Premiums went up by 10.2% to €4,655 m. Life insurance drives growth, with premiums up by 18.7% Profit increases by 142.7% to €103 m.

November 26, 2010

Is the Austrian Industry still competitive?

The chief economist of the Industriellenvereinigung (IV), Christian Helmenstein, draws a sobering picture on the future of the domestic industry.

November 26, 2010

Vienna International Airport: Decisions on Personnel are Postponed

The previously rumored change of leadership at Vienna International Airport is not taking place yet. There is time until mid-December for the board, highly criticized because of Skylink.

November 26, 2010

WKÖ’s Secretary General Advocates for Educational and Administrative Reform

Young people have to be trained practically to meet the challenges of the future. An administrative reform should not be foregone, said Hochhauser.

November 25, 2010

Risk Exposure of Austrian Banks: € 32 billion

The volume that Austria's banks hold at the moment in the altogether not risk-free PIIGS countries (Portugal, Italy, Ireland, Greece), is € 32 billion.

November 25, 2010

Leitl Vehemently Asks the Government for Structural Reforms

The President of the Austrian Economic Chamber (WK), Christoph Leitl, call on the government for location and future investments.

November 25, 2010

Kneissl: Bankruptcy Application Possible Despite Capital Increase

The traditional Tyrolean ski manufacturer Kneissl is possibly facing lawsuits and bankruptcy applications.

November 25, 2010

Europe's Public Debt and Unemployment Remain High

Austrian Institute of Economic Research: The revival of the EU states, driven by expansionary economic policies and export growth, is ebbing.

November 25, 2010

Vienna International Airport: Strong Growth in Profits and Passengers

The Vienna International Airport (Flughafen Wien) could increase its EBIT by 15%, passengers have risen by 8.3% to 14.87m.

November 25, 2010

Hirsch Servo Still Records Losses

Sales were up by 27% in the first quarter. Hirsch already experiences an upward trend, the turnaround is expected in 2011.

November 25, 2010

S Immo Records Profits Again

Vienna-based Sparkassen Immobilien AG records a successful operating performance in the first three quarters of 2010 after the weak year 2009.

November 25, 2010

CA Immo Returns Back to Black

CA Immo presents its Q3 Results: strong increase in EBIT to € 134.6m (2009: € -6.1m), net income grew to € 13.5m (2009: € -78.3m).

November 25, 2010

Walter Grahammer Becomes the New Austrian Ambassador in Brussels

Previously, Grahammer acted as Head in the Ministry of Foreign Affairs.

November 24, 2010

Audit Court: Capital Increase for Vienna Airport

The Audit Court criticizes the Board again and advises a capital increase. The personal consequences may be tougher than expected yet.

November 24, 2010

AMS: Temporary Employment Will Continue to Rise

The Chairman of the Board of the AMS (Public Employment Service), Johannes Kopf, believes that the international trend of increasing temporary employment will also take root in Austria.

November 24, 2010

Wiener Privatbank SE Announces Q1-Q3 2010 Results

Wiener Privatbank records slightly decreasing results

November 24, 2010

Conwert Announces Q1-Q3 2010 Results

The Vienna-based real estate company records a good business development and a significant increase in earnings.

November 24, 2010

SW Umwelttechnik Announces Q1-Q3 2010 Results

The Vienna Stock Exchange-listed company, SW Umwelttechnik, was able to increase its turnover by 15 % to € 54.2m compared to the previous year when it reached € 47.0m.

November 24, 2010

Industrial Production: Increase Over Last Year, but Trend is Declining

The September 2010 production index shows a significant increase of 3.6% in Austrian industrial production over the previous year.

November 24, 2010

ECO Business-Immobilien AG Announces Q1-Q3 2010 Results

Vienna-based ECO Business-Immobilien AG records a fivefold increase in Group EBIT to € 25.0 m for the first three quarters of 2010.

November 23, 2010

Lending Rates of Domestic Banks Significantly Lower Than in the Euro Area

The lending interest rates for private households and businesses have risen recently. But despite this, rates are more advantageous than in other euro-countries.

November 23, 2010

WKÖ Promotes Trade With Developing Countries

The Economic Chamber Austria presents its strategies to strengthen Austrian companies in order to take advantage of business opportunities in developing and emerging countries more effectively.

November 23, 2010

Meinl Bank Sues Atrium for € 1.2 billion

After Atrium instituted proceedings for damages against Meinl Bank before the High Court of Justice in London, Meinl Bank responded with a countersuit.

November 23, 2010

Austria's Energy Consumption Falls

The energy consumption of Austria decreased in 2009 compared with the previous year by 4%. Mainly industry and transport reduced their consumption.

November 23, 2010

Economic Chamber President Leitl Demands Financial Transaction Tax

There is consensus between the Presidents of the Economic Chamber and the Federation of Trade Unions.

November 23, 2010

Atrium Announces Q1-Q3 2010 Results

Atrium European Real Estate, a real estate company focused on CEE countries, leaves the red and records a strong operational performance.

November 22, 2010

Volksbanken Group Announces Q3 Results

Österreichische Volksbanken-AG Group (VBAG) returns on a positive growth path. The turnaround has been successfully completed.

November 22, 2010

BKS and BTV Show Profit Growth

The two sister banks report strong profits. Expectations are cautiously optimistic.

November 22, 2010

Pankl Announces 2009/10 Results

The Styrian Engineering Company records a slight fall in revenues. EBIT grew by 94%.

November 22, 2010

Job Dissatisfaction Rises Dramatically

Austrians show themselves increasingly dissatisfied with their work. The current working climate index is at its lowest level in four years.

November 22, 2010

Solid Growth inTrade Between Austria and the Czech Republic

Exports between the two countries rise by around 20%. Cooperation is to be extended also to research.

November 22, 2010

CEE: Catch-Up Process Starts Again

After the growth break caused by the economic crisis, Eastern Europe is back on the upswing. However, the catch-up process has been delayed by years.

November 22, 2010

IHS: Capital Gains Tax on Securities is Absurd

The introduction of the capital gains tax on securities would encourage speculation rather than contain it, says IHS (Institute for Advanced Studies) Director Felderer. Private investors are the victims

November 22, 2010

Rosenbauer Group Announces Q1-Q3 2010 Results

Revenues rose by 9.6%, EBIT is 22.4% above the level of 1-9/2009.

November 19, 2010

Economic Espionage: Damages for 880 Million Euro in Austria

Every year, Austrian companies lose 880 million euro to economic and industrial espionage.

November 18, 2010

Bwin Announces Q1-Q3 2010 Results

Considerable decline in earnings and profits: EBIT fell by 70%, Result after tax shrank by 67%.

November 18, 2010

OECD: Austria's growth until 2012 at 2%

According to the report, the economy is returning back to normal values, but it will have to manage without fiscal stimulus.

November 18, 2010

Study: Agricultural Subsidies Produce No Growth

The Austrian Institute of Economic Research has determined that growth in the Austrian regions is accelerated by EU regional promotional financing, but not by agricultural subsidies.

November 18, 2010

Roche Lays Off 400 Jobs in Styria

The Swiss pharmaceutical group reduces its international workforce by 6%: a setback for the region.

November 18, 2010

Allianz Austria Announces Q1-Q3 2010 Results

With good results for the first nine months, both in the investment and the core business, Allianz could increase the net operating result by 27.3%.

November 18, 2010

Voestalpine Announces Q1-Q3 2010 Results

Voestalpine group increases EBIT by almost tenfold up to € 414m. Revenue goes up by 24.2% due to significant growth in sales

November 18, 2010

Linz Textil Announces Q1-Q3 2010 Results

The textile group was able to attain a sales increase of 20% and also a significant increase in earnings.

November 18, 2010

Indonesia and Austria Agree to Extend Cooperation

President Fischer officially visited the Islamic Republic Indonesia, which is of the most important future markets of the South Asian region for Austria.

November 17, 2010

Schoeller-Bleckmann Oilfield Equipment AG Announces Results of Q1-Q3

Vienna-Stock-Exchange listed SBO records a clear increase of all key financial figures.

November 17, 2010

Binder&Co; Announces Q1-Q3 Results

Binder was able to increase its order intake by 50% over the previous year. However, company sales revenues and EBIT remained below the 2009 level.

November 17, 2010

Junge Industrie Wien: Explosive Generational Balance Study

Junge Industrie Wien calls for "courageous steps". The credo is future investments instead of transfer payments.

November 17, 2010

Private Consumption of Austrians Increases

After the crisis of 2009, in which private consumption stagnated, expenditure on consumption rises massively again. The growth rate is 4.2%,

November 17, 2010