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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
Rising Turnover in Austrian Retail Trade
Stimulation of trade in August 2011 - turnover in Austrian retail trade increased by 4.0%.
October 3, 2011
Economic Crisis: Austrians Pessimistic
The majority of Austrians thinks that the economic crisis will persist and will become even worse.
October 1, 2011
Slight Increase in Unemployment
Austria´s unemployment grew by 1.9% in September 2011. The main reason is the lower number of trainings.
October 1, 2011
Wifo/IHS: 2012 Brings Collapse of Economic Growth
The research institutes cut their growth forecasts for the Austrian economy by 50%. Unemployment numbers are expected to increase.
September 30, 2011
Public Debt Increased to 71.8% of GDP in 2010
Austrian public finance 2010: Public deficit up to 4.6%, public debt grew by 2.3 percentage points.
September 30, 2011
ÖBB with Positive Operating Result in First Half of 2011
The Austrian Federal Railways continue their restructuring program. Management expects to leave the loss zone by 2013.
September 29, 2011
Growth in Industrial and Construction Turnover Slows Down
Opposing production trends in industry and construction in June 2011; turnover +4.5%. Energy supply and metal industry are dominant factors.
September 29, 2011
Construction Output Increasing by 1.2% from January to June
Austrian output of construction in the first half of the year: construction of buildings +6.8%, civil engineering -6.6%. Volume of orders grew by 4.1%.
September 29, 2011
Strong Decline in Company Insolvencies
The number of private insolvencies rose rapidly from January to September, while the number of companies filing for bankruptcy dropped significantly.
September 28, 2011
Spindelegger Wants New Impetus for Nabucco
The Austrian Vice-Chancellor calls for a quick realization of the pipeline project which is stalling at the moment.
September 28, 2011
Stagnation in Food Retail Sector
Total revenue of the sector grew by only 1.9% in 2010. The market is ruled by retail chains which own 98% of total selling space.
September 28, 2011
Austria Catches Up as IT Business Location
According to the Economist Intelligence Unit, Austria could improve its position as IT business location and went from rank 22 to rank 17.
September 27, 2011
Level of General Financial Education in Austria “Not Satisfactory”
Latest survey shows: 4 in 10 Austrians don’t even know where to start when defining term “interest”.
September 27, 2011
Austria´s Triple A „Not Endangered“
From a global view, 18 countries have a “AAA-status”. The current debt crisis makes market observers nervous.
September 26, 2011
Strong Order Intake for Head
The Dutch and Vienna-listed sports article manufacturer Head records rising sales. Expectations for 2012/2013 are stable.
September 26, 2011
Rise in Turnover for Verkehrsbüro
The Austrian travel agency group records a rise in turnover up to € 850m.
September 26, 2011
“Austrian Exports to Turkey to Double“
According to the Austrian Chamber of Commerce in Istanbul, Austrian companies could benefit strongly from the persisting economic boom in Turkey.
September 26, 2011
Drastic Decrease in Profits for Immofinanz Group
The Austrian real estate company records increasing rental income in the first quarter of 2011/12. The decline in profits is due to foreign exchange effects.
September 26, 2011
Production Index Up by 4.4% in July
Production index in July 2011: +4.4% compared to July 2010, -1.3% against June 2011.
September 23, 2011
Metal Workers Start Autumn Bargaining Round
Salaries of 190,000 employees in the metal industry will be negotiated. Trade unions demand substantial increases.
September 22, 2011
IMF: „NPL in Eastern Europe Decreasing“
After the announcement of the Hungarian government to convert foreign currency loans at the expense of banks, the IMF has good news for Austrian banks.
September 21, 2011
Strong Growth for Bernegger
The Upper-Austrian construction company could achieve a 7.5% growth in turnover.
September 21, 2011
Management Rewards Rise Considerably
In 2011, Austrian managers benefit from an increase of their salaries by 4.1% on average. Most of the Austrian managers receive additional payments.
September 21, 2011
Austrian Population Forecast 2050: Growth from 8.4m to 9.4m People
The Austrian population is growing – and becomes older. In 2030, 9.0m people will live in Austria, 9.4m in 2050.
September 21, 2011
Rising Sales for Bene
The Austrian office furniture manufacturer Bene could further expand its operations and turn the earnings positive.
September 21, 2011
No Dividends at Austrian Volksbanken AG
Österreichische Volksbanken Aktiengesellschaft – no payments on profit-related instruments for the 2011 business year.
September 21, 2011
IMF: Austrian Growth Slabs
The IMF expects the Austrian economy to grow by 3.3% in 2011. Next year, GDP growth should fall to 1.6%.
September 20, 2011
German and Austrian Economy Claim Improvements for Company Loans
Representatives of the German and Austrian Economy fear adverse impacts for company loans from the new Basel III rules.
September 20, 2011
Austrian Unit Labor Costs Down in 2010
The Austrian competitiveness improved in 2010. Against 2010, unit labor costs decreased by 5.5%.
September 20, 2011
FPÖ Claims New Currency Area
The chairman of the Austrian Freedom Party, Heinz-Christian Strache, calls for the creation of a “core Europe” with a new currency.
September 19, 2011
OMV Publishes New Strategy
Gerhard Roiss became CEO of the Austrian OMV six months ago. This week, Roiss will present the company´s strategy at the capital market´s day in Istanbul, Turkey.
September 19, 2011
Increasing Equity Quotas of Austrian SME
The average equity quota of Austrian SME in 2009/2010 was 28%. This is an improvement against the previous years. However, 30% of SMEs are overindebted.
September 19, 2011
Moderate Upward Trend for Industrial Producer Prices
Rise of the Austrian industrial producer prices in July 2011 by 3.6% compared to July 2010.
September 19, 2011
GDP Growth below Expectations in Q2
The real growth rate was revised downwards to 0.7%. Wifo expects a normal slowdown but no economic crisis.
September 16, 2011
Wolford Increased Sales and Earnings
In the first three months of the current fiscal year, the Austrian luxury clothing company continued on the growth path prevailing in the prior year.
September 16, 2011
Insurance Industry: Moderate Decline in Premiums
Total premiums written dropped by 2.87% in the period from April to June. Life insurance business was down 11.23%.
September 15, 2011
RH Warns: Alarming Increase in Public Debt
Austrian government debt is growing rapidly. From 2006 to 2010, government expenditures went up by 18.2%.
September 15, 2011
Employment Numbers Rose in the Second Quarter
Number of employed increased, number of unemployed decreased, more vacancies in the second quarter of 2011.
September 15, 2011
Inflation Falling Slightly in August
Consumer price inflation dropped to 3.4% in August. Above-average price increases were registered for traffic and household energy.
September 15, 2011
Construction Costs Continue to Increase
August brought a further rise in construction costs: +2.3% against 2010, +0.3% compared to July 2011.
September 15, 2011
Austrian Households with Second Lowest Debt Ratio in Western Europe
A lower ratio was only recorded for Belgium. In the year 2010, Austrians’ gross financial assets averaged € 59,346.
September 14, 2011
Decline in Savings Deposits Continues
Business development of Austrian banks in the first half of 2011: Balance sheet total grows; volume of demand and fixed-term deposits increases.
September 14, 2011
Firms Budget 2.8% Wage Increase
Top management of Austrian companies will likely benefit from the highest pay rise next year.
September 14, 2011
„Education at a Glance“: Austria Falls Behind
According to the study of the OECD, Austria has a slightly rising level of graduates. Nevertheless, the difference to the OECD average is still substantial.
September 13, 2011
No Common Trend for CEE-Countries
Regarding economic growth, prospects for CEE countries have worsened slightly. However, the region remains heterogeneous.
September 13, 2011
New Difficulties for Brenner Tunnel
The project of the alpine tunnel between Austria and Italy, which is the core of a trans-European axis, faces new problems. The Italian government plans to tender the license for the highway Europe-wide.
September 12, 2011
Austrian Minister of Science: € 1.00bn for Universities
Karlheinz Töchterle (ÖVP), announced that Austrian universities may receive € 1.00bn from 2013 to 2015 separately. However, critics already commented the plan.
September 12, 2011
Austrian Telekom: Social Democrats Warn of „Unfriendly Takeover“
For the executive director of the SPÖ, Günther Kräuter, “a new major shareholder from Egypt or Russia would be problematic.”
September 12, 2011
Austria Considers Lawsuit Against Hungary
The Austrian Minister of Foreign Affairs, Michael Spindelegger (ÖVP) threatens Hungary to file a lawsuit at the European Court of Justice. Hungary plans to stress banks massively.
September 12, 2011
Investment Funds with Negative Performance in August
The average one-year performance was -1.36%. Only 675 out of 1,615 funds showed a positive performance.
September 9, 2011
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