Get the latest business news and analysis on the Austrian economy, including news on economic policies, foreign trade, financial developments and investments
Sponsored
Page 139/143

Vienna International Business News | Economic | Investment | Financial

OeNB Governor Nowotny Contradicts the Deutsche Bundesbank

"The ECB should not give up purchasing bonds". Although the bond purchase program of the ECB was not needed in recent weeks, Nowotny wants to go on having it "in reserve”. The German Bundesbank warns of a too late withdrawal.

October 13, 2010

Global Financial Market System: Norbert Walter Urges for Regulation of Financial Markets

Economist Norbert Walter discussed world financial markets with Lower Austria Deputy Governor Sobotka and Hypo Lower Austria Chairman of the Board Harold at the HYPO Invest Club.

October 12, 2010

Wilhelm Molterer: Management Consultant Since Early October

Former ÖVP Vice Chancellor and Finance Minister Wilhelm Molterer (55) started working as a management consultant. Since early October, his EuroAdvisory GmbH based at Mahler Road 11, is operative in the Vienna city center .

October 12, 2010

Vienna's Municipal Election: SPÖ Loses Absolute Majority, FPÖ is Triumphant

The SPÖ achieves 44.3% at the election. The FPÖ can double its share of votes and comes in second, with 27%. The ÖVP and the Greens show losses.

October 11, 2010

Wholesale price index plus 7.1%

The index of wholesale prices, WPI 2005, amounted to 112.8 (preliminary value) in September 2010 and has increased by 1.1% against August 2009.

October 8, 2010

Austrian Statistics - Exports and imports increased more than 12%

According to preliminary results, total imports amounted to 62.84 bn euro and total exports amounted to 61.13 bn euro in the period January to July 2010.

October 8, 2010

Austria is Getting More Popular Among Arab People

Arab tourists find Austria increasingly pleasant. So far this year, the number of arrivals between January and August grew by 21% to 91,600 as compared to the same period of the previous year.

October 8, 2010

Asfinag: Toll Revenues for 1.63 Bllion Euro in 2010

The motorway vignette will bring the state-owned motorway company Asfinag 350 million euro this year, truck tolls one billion. Total revenues will be around 100 million above those of 2009, but debts increase by around 600 million.

October 8, 2010

Skylink: Board Changes at the Airport After Vienna Election

At Vienna Airport, the chairman of the supervisory board, Cristoph Herbst, is being talked about as successor to Ernest Gabmann(ÖVP). The Audit Court’s report on Skylink points to serious deficiencies.

October 7, 2010

Mandatory Community Service is Possible Legally

A mandatory community service to substitute military service in the event of the abolition of conscription, would be legally possible. Constitutional experts consider a compulsory community service not excluded by the Constitution.

October 7, 2010

Credit Monitor: Further Decline in Foreign Currency Loans

Such is the development of domestic loans to non-banks in July 2010

October 6, 2010

Qualified Workforce: Austria’s Target is to Attract Skilled Immigrants

ÖAAB General Secretary Lukas Mandl: "Germany has long been an immigration country. Austria also has to become one. Austria’s target should be to attract skilled immigrants, after identifying the needs."

October 6, 2010

European Cities Monitor 2010 - Vienna is the biggest mover

According to Cushman & Wakefield research, this year Vienna is the biggest mover, rising up the ranking by six places to 22nd place.

October 5, 2010

FDI - Austrian enterprises still expanding abroad; foreign enterprises in Austria stagnate

In 2008, Austrian enterprises still expanded their shares in foreign enterprises. 4 899 Austrian affiliates abroad meant a 14% rise in comparison to 2007.

October 5, 2010

Household Energy: Prices Rose by 5.4%

Households have to pay on average 5.4% more for energy in Austria than one year ago. Diesel is 10.4% more expensive in the yearly comparison.

October 4, 2010

SPÖ's Absolute Supremacy Wobbles in Vienna, According to Surveys

The SPÖ is threatened with the loss of the absolute majority in the Vienna-election on next Sunday, the FPÖ is likely to surpass 20%. Greens and ÖVP might register losses and the BZÖ might miss its entry into the municipal council.

October 4, 2010

Skylink: Position on the Report of the Audit Court

The contents of the Rechnungshof (Audit Court, RH) report is said to be prejudicial; the Airport Board will submit its opinion today.

October 4, 2010

Austria: Economic Recovery Continues

OeNB economic indicator: After the exceptionally strong economic recovery for the first half year, the Oesterreichische Nationalbank (OeNB) expects sustained high economic dynamics in Austria for the second half year.

October 1, 2010

Post Boss Pölzl 3 Months prior to the Liberalization

Post Boss Pölzl allegedly looks ahead with confidence to free competition, even for traditional letters.

October 1, 2010

New Connection Between Mandarin Group and Karl-Heinz Grasser

Grasser invested money for his mother in law. According to reports, the connection between the Caribbean offshore company Mandarin and the ex-finance minister has been proven.

October 1, 2010

Vienna now has its own Expat Center

In Vienna, the first Expat Center in Austria was opened. The project was handled by the Vienna Business Agency (former WWFF).

September 30, 2010

Austria exceeds the Maastricht GDP reference value by 0.5%

Public Finances 2009: Public deficit increases to 3.5% due to the economic and financial crisis.

September 30, 2010

Unemployment - Total number of persons unemployed down by 12.5%

In the third quarter of 2010, the total number of persons unemployed according to international definitions was 194,100, a decrease of 27,700 persons (-12.5%) compared to the third quarter of 2009.

September 30, 2010

Austria - Construction orders down by 4.6% in June

Volume of orders in construction of buildings and civil engineering decreasing by 4.6% at the end of June 2010.

September 29, 2010

Austria - Construction output down by 9.1%

Output of construction of buildings and civil engineering decreasing from January to June 2010: -9.1%

September 29, 2010

Austria - Turnover in industry and construction in June 2010 up 14.3%

60,657 enterprises in the entire industry and construction sector turned over a total of EUR 19.7 bn.

September 29, 2010

EU: Austria's Actual Net Contribution has Risen to 342 Million Euro

The net contribution to the EU rose again last year. Poland, with 6.5 billion euro is for the first time the biggest net recipient. Germany remains the biggest net payer with 8.1 billion euro.

September 28, 2010

BayernLB has to Wait 7 Years for 3.9 Billion from Carinthia

After the debacle of the Hypo Group Alpe Adria (HGAA), the Bayerische Landesbank will have to wait up to 7 years for the repayment of the 3.9 billion euro. The repayment plan provides for this period.

September 28, 2010

“GmbH light” Coming in Early 2011

The minimum capital will amount to 10,000 euro. Currently, the Amtsblatt (Official Journal) is still reluctant to reduce its fees for mandatory publications.

September 28, 2010

Insolvencies: Declining Trend for Both Companies and Individuals

KSV expects 10% less insolvencies for 2010, but warns about the consequences of fiscal budget adjustment.

September 28, 2010

CEE Real Estate: Outlook is brightening

CEE real estate stocks are currently in a phase of brisk corporate action. Financially sound companies with attractive assets are interesting takeover targets, while other companies are being taken over.

September 27, 2010

Elections in Styrya: SPÖ manages to claim first place, just.

The SPÖ was able to claim the first place after a thrilling count against the ÖVP. The FPÖ was able to double results as compared to 2005, and gets into the Landtag again.

September 27, 2010

Austrian tourism - summer season 2010 plus 1.1%

The most important summer month stabilizes the positive development of the current season (+1.1%)

September 24, 2010

Elsner Provides Help in Finding Missing Bawag Funds

Former BAWAG CEO wants to clarify the fate of 1.7 billion euro of failed investments allegedly made by the speculator Wolfgang Flöttl to the detriment of BAWAG.

September 24, 2010

Economy - Registrations of motor vehicles up in August

Registrations of used motor vehicles in August 2010: +9.9%; passenger cars +11.4%, lorries +6.6%. A total of 85 041 registrations of used motor vehicles were observed in August 2010, which is 9.9% more than in August 2009.

September 23, 2010

Mitterlehner Meets Hendry: Development of Renewable Energies

The Finance Minister met with the British Energy Minister Charles Hendry for talks about the energy policy in the EU, the development of renewable energy sources and increasing the security of energy supply.

September 21, 2010

Siemens Austria: Corruption Prosecution Expands Investigation

According to a media report, the prosecution has questioned two ex-managers of the group on suspicion of infidelity. They allegedly bribed business partners in South Eastern Europe.

September 21, 2010

Austria's Management and Supervisory Boards’ Salaries on the Test Bench

The partly state-run OMV had the most expensive board of all Austrian corporations in 2009. In total, the oil company spent 10.2 million euro on its bosses, 23.4% more than the previous year.

September 20, 2010

Industrial Producer Prices are Raising

Increasing upward trend of industrial producer prices in July 2010: +4.2% over July 2009; +0.4% compared to June 2010

September 17, 2010

ÖIAG: ÖVP vs. SPÖ

Schieder and Rudas demand dissolution of the state holding ÖIAG, Finance Minister Pröll, on the other hand, wants to “strengthen” it.

September 17, 2010

Export Indicator: The Economy is Expanding

According to the current results of the OeNB export indicator calculated on the basis of trucking mileage performance data of September 2010, the Austrian export economy has also expanded in the two summer months.

September 17, 2010

Labor market: Reduction of Full-Time Jobs Hits Women Hardest

As Statistik Austria reports, in the second quarter about 11,600 people less than last year sought work in Austria

September 17, 2010

CESEE Bank Conference: Joint Supervisory Academy in Vienna

Finance Minister Josef Pröll wants to create common standards for the CEE region with an Eastern Bank Supervisory Academy in Vienna.

September 17, 2010

OeNB: First-time Increase of Banks’ Total Assets Since End of 2008

By the end of June 2010 the unconsolidated total assets of the reporting banks in Austria amounted to 1037.98 billion euro.

September 16, 2010

Unemployment rate down 4.4%

Stable labour market in the second quarter 2010; more men and less women were employed than in the second quarter 2009.

September 16, 2010

Austrian Post Refurbishes its Board

ÖIAG boss Peter Michaelis gives green light for the refurbishment of the Post’s board. Meanwhile, rumors are growing that the changes will not only affect the parcels sector.

September 16, 2010

ÖIAG Boss Michaelis Under Pressure

ÖIAG Boss Peter Michaelis considers that the "campaign" against him evidences that "the actual work of ÖIAG provides no target for criticism." He considers his 700,000-euro salary as justified.

September 15, 2010

Consumer Price Inflation down at 1.7 % in August 2010; HICP 1.6 %

August inflation down to the lowest rate since February

September 15, 2010

Construction cost index up 3.4% y/y

Today, Statistik Austria announced that construction prices rose 3.4 percent compared to August 2009.

September 15, 2010

FMA and OeNB Welcome the Basel III Agreement

The package draws the right lessons from the financial crisis and provides for reasonable transition periods.

September 14, 2010