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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
Lower Profits for Verbund´s Subsidiary Sorgenia
Sorgenia, the Italian Subsidiary of the Austrian energy corporation Verbund, reports a drastic decrease in net income from € 61m to € 18m. Sales were down by 8.5%.
October 18, 2011
Austrian Industry Shows High Degree of Internationality
During the last decades, the Austrian industry could gain importance, which is contrarious to the European trend. In meantime, Austria has the fourth highest degree of industrialization in the EU.
October 18, 2011
Online Shopping is Booming in Austria
45% of the Austrian population already practiced online shopping. The share of enterprises using mobile broadband connections rose significantly against 2010.
October 18, 2011
Solution Found: Wage Increase by 4.2%
After heated debates and strike threats, representatives of the Austrian metal industry and the trade union came to an agreement.
October 18, 2011
Metal Industry: New Bargaining Rounds
The Austrian trade union of metal workers and industry representatives could avert a strike. However, a compromise is still not found.
October 17, 2011
Stagnation Expected in Austria for 2011
Insecurity and a lack in foreign demand will cause a massive slowdown of the Austrian economy in 2012. Consumers and companies become more cautious.
October 17, 2011
€ 4.0bn Capital Requirement for Austrian Banks
After the industrialist Hannes Androsch, also the Vice-President of the Austrian Central Bank (OeNB), Wolfgang Duchatczek, sees a need to support domestic banks.
October 17, 2011
Austria´s Manufacturing Industry Maintains its Competitiveness
Austrian goods exports rose significantly since 1995. According to a study of the Austrian Central Bank (OeNB), this is mainly due to a higher degree of competitiveness.
October 17, 2011
Austrian Motor Vehicle Industry Prospers
Vehicle production recovered completely in 2010 – high commodity prices hindered significant earnings growth. In 2011, sales will reach € 14bn again.
October 17, 2011
CEE Less Vulnerable to Severe Economic Crisis
The reaction of the CEE region to the global slowdown should be less severe than in the post-Lehman crisis, as CEE economies are in a completely different stage of their economic cycle and have reduced their imbalances.
October 17, 2011
Austrian Metal Industry: Strike Threatens
After a warning strike on Friday, representatives of the metal industry and the trade union still reached no agreement. Now, a full strike threatens.
October 15, 2011
Lufthansa Holds On Austrian Airlines
The German Airline will keep its Austrian subsidiary despite of persisting losses.
October 15, 2011
Austrian Economy Cooling Down Rapidly
Drastic deterioration in industrial climate and consumer sentiment point to a break in the economic recovery in the second half of 2011.Economic outlook for 2012 lowered to just 1.4 per cent.
October 15, 2011
Ikea Austria Reaches Over € 600m in Sales
The Swedish furniture corporation raised its market share in Austria to 13.9%. Sales grew by 1.6% up to € 604.2m.
October 15, 2011
Palfinger Aims for Growth in China
The Austrian crane manufacturer, which has recently published a capital increase, will use these funds for further investments in China.
October 15, 2011
Still Danger of Overheating in SEE Property Markets
According to the “Bank Austria Real Estate Country Facts”, commercial property markets in Croatia, Serbia and Slovenia are gaining ground, but risks of overheating remains.
October 15, 2011
Austria Ranks Third in EU Productivity Study
The report points out structural weaknesses and suggests more effective public spending in the fields of education, research and innovation.
October 14, 2011
Inflation Rises to Highest Level in Three Years
Consumer price inflation rose to 3.6% in September, the highest value since September 2008. Mineral oil products remained the main price driver.
October 14, 2011
Slovakia Approved EFSF
After unsuccessful voting on Tuesday, Slovak lawmakers supported today the enlargement of the European Financial Stability Fund.
October 13, 2011
Innovation Indicator 2011: Austria Has Improved Markedly
In a ranking of 26 industrialized countries, Austria has risen to the eighth place. The R&D ratio has climbed to 2.8% of GDP.
October 13, 2011
Polish Foreign Trade Will Increase by 125% by 2025
The world trade will increase only by 73%, states the report of HSBC Trade Connections. The document presents forecasts for the international trade in the perspective of several years.
October 13, 2011
Private Insolvencies on the Rise
The number of private insolvencies rose by 6%, while the number of companies filing for bankruptcy declined by the same rate from January to September.
October 13, 2011
Bargaining Suspended – Metal Workers Take Industrial Action
Employees of more than 140 Austrian companies went on strike after negotiators had failed to agree on wage increases.
October 13, 2011
Agrana: Strong Results for First Half of 2011|12
The Austrian sugar and starch company expects a significant increase in pre-exceptionals operating profit for the full year.
October 13, 2011
Performance of Investment Funds Drops Further in September
The average one-year performance was -3.74%. Only 526 out of 1,614 funds showed a positive performance.
October 12, 2011
OeNB: Austrian Economy Is Stagnating
Uncertainty about the global economic development has reduced business and consumer confidence in Austria.
October 12, 2011
Slovakia Against the Enlargement of the Euro Zone Bailout Fund
After six hours of heated debate Slovak lawmakers failed to approved the European Financial Stability Fund (EFSF).
October 12, 2011
Czech Consumer Price Index Increased by 1,8% Compared to September 2010
According to research released by the Czech Statistical Office, consumer prices decreased in September by 0.2 %, month-on-month.
October 12, 2011
Hungarian Consumer Price Index Increased by 3,6% Compared to September 2010
In September 2011 consumer prices increased by 3.6% compared to September 2010, it was the same rate as in the previous month, registered the Hungarian Central Statistic Office.
October 12, 2011
Austrians Save € 168 per Month
With a share of 86%, the savings passbook is still the most popular form of saving while the interest in ecological, ethical and social investments is growing steadily.
October 12, 2011
„Austrian Banks Are Robust“
Ewald Nowotny, the head of the Austrian Central Bank (OeNB) as well as the Minister of Finance, Maria Fekter, appreciate the announcement of Erste Group.
October 11, 2011
Car Registrations Still on the Rise
First three quarters 2011: new car registrations increased by 8.8%; September 2011 +9.4% in Austria. Motor vehicle registration was up by 7.7%.
October 11, 2011
Chamber of Labor Claims Substantial Wage Increase
The Austrian Chamber of Labor calls for a massive rise in wages for metal workers. The union refers to increase profits of the metal industry.
October 10, 2011
€ 2.7bn Profits Due to Rededications
According to a new study by Kreutzer, Fischer & Partner, 280km2 of agricultural area were rededicated into building area from 2007-2011. Yearly profits therefrom amount to € 2.7bn.
October 10, 2011
Trainees in Vienna „Not Satisfied“
A study of the Viennese chamber of labor published, that a large number of trainees is not satisfied with their apprenticeships.
October 8, 2011
Austrian Government: Sharp Critics from Industrialists
The Federation of Austrian Industries (IV) attacks the government massively. For the industrialists, the new taxation plans are not acceptable.
October 8, 2011
State Visit: "Huge Potential for Austrian Companies in India"
The Indian President Shrimati Patil absolved a state visit in Austria and met the Austrian President Heinz Fischer and the head of the Austrian Economic Chamber, Christoph Leitl.
October 8, 2011
Private Consumption Remains Strong
Despite growing fears of an economic downturn, the Austrian consumer climate is still positive.
October 7, 2011
ÖVP: Privatization of ÖBB “Unrealistic”
A privatization of the Austrian Federal Railways as suggested by Finance Minister Fekter is not an option at the moment.
October 7, 2011
Wholesale Prices Continue Upward Trend
Wholesale price index in September 2011: +6.4% against September 2010, +0.6% against August 2011. Main drivers were coffee and oil products.
October 7, 2011
Massive Increase in Global Foreign Trade Deficit
January to July 2011: import trade volume of € 75bn, export trade volume of € 71bn. The global foreign trade deficit increased from € 1.86bn to € 3.89bn.
October 7, 2011
New Record in Agricultural Foreign Trade
The first half of 2011 brought double-digit growth rates in all product categories. Exports to Hungary increased by 43%, making it the number three buyer country.
October 6, 2011
Decreasing EBIT for Austrian SME
Domestic Small and Medium Enterprises record a decline in their return on investment. Lower finance costs could offset this effect. 40% of all SME are in the red zone.
October 5, 2011
Austrian Exports to Rise Substantially
Austrian exports record satisfying results in the first six months of 2011. Austria´s trade balance shows a plus of € 4.4bn.
October 5, 2011
FDI Remains Essential for Austrian Business Location
According to a study of Statistics Austria, the number of foreign subsidiaries even grew in 2009 by 6%. The number of Austrian subsidiaries owned by foreign corporations grew slightly.
October 5, 2011
Androsch „Another Three to Four Billions for Hypo Group“
The former Minister of Finance, Hannes Androsch fears a loss of Austria´s AAA-rating. “We are being observed accurately.”
October 4, 2011
Ranking: Austria Among the Most Non-Transparent Financial Centers Worldwide
Today, the Financial Secrecy Index (FSI) of the Tax Justice Network (TJN) has been published. 73 countries have been analyzed.
October 4, 2011
Mitterlehner: „Settlement of Headquarters Key Question for Austria“
The Austrian Minister of Economics, Reinhold Mitterlehner, wants to push the development of the domestic location through improving framework requirements steadily.
October 4, 2011
Bewag Achieved Turnaround
The regional energy provider Bewag turns back to the profit zone. In 2011, CEO Michael Gerbavsits expects a double-digit million figure in profits.
October 3, 2011
Dispute Over A-Tec´s Liquidation
After the Sale of the insolvent Austrian A-Tec has failed, the subsidiaries will be sold separately. Austrian politicians warn of the loss of jobs, technology and tax revenue.
October 3, 2011
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