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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
Europa Forum Wachau: "Include Western Balkans in EU Programs"
At the 25th Europa Forum Wachau, Austrian Foreign Minister Alexander Schallenberg spoke out in favor of finding creative approaches to bind the Western Balkan states to the EU even before a possible EU accession.
June 16, 2021
GLOBSEC Forum in Slovakia: Heger and Kurz Demand Reforms in Exchange for Economic Aid
At a working meeting and at the GLOBSEC Forum in Bratislava, Slovak Prime Minister Eduard Heger and Austrian Chancellor Sebastian Kurz discussed, among other things, the importance of EU's reconstruction fund and how aid should be distributed. Read more below.
June 16, 2021
EU Sets Stage for Green Passport
The European Union has agreed on the legislation of an EU wide COVID digital certificate. The certificate should facilitate travel within Europe and increase cross-border movement as of July 1. Read more below.
June 15, 2021
South Korean President in Vienna
The South Korean President Moon Jae-in has met his Austrian counterpart Alexander Van der Bellen and the Austrian Chancellor Sebastian Kurz in Vienna to discuss the Covid-19 pandemic and a strategic partnership.
June 15, 2021
Switzerland and Austria Sign Strategic Partnership Agreement
Switzerland and Austria enter in an era of even greater cooperation. The Swiss Foreign Minister, Ignazio Cassis, and his Austrian counterpart, Alexander Schallenberg, have signed a strategic partnership agreement.
June 14, 2021
EU Commission Takes Legal Action Against Austria
The European Commission has taken legal action against Austria and other Member States that fail to comply with EU law. In the case of Austria, several allegations have been put forward. Read more about them below.
June 11, 2021
Weekly Briefing: Is the Pandemic Really Over?
In a meeting with his Italian counterpart, Austrian Federal President Van der Bellen stated that the "pandemic as we have experienced it can be considered overcome." Is this the case? Find out more about this week's developments.
June 10, 2021
Covid-19 in Austria: What Applies Now?
As of today, June 10, Austria faces fewer restrictions. While the curfew for restaurants is being extended to 12 a.m. now, even fewer restrictions will be in place in July. Read more about what applies now below.
June 10, 2021
Jewish Museum Vienna Follows Path of Digitalization
The Jewish Museum Vienna has launched its new website, which will provide visitors with a clear and concise overview of the museum and its activities. According to Director Spera, this is part of the comprehensive digitalization strategy of the museum.
June 9, 2021
Weekly Briefing: Belarus Faces Harsh Criticism
After the forced landing of a passenger plan and the arrest of an anti-government blogger, the international community, among them a number of Austrian politicians, demand strong sanctions for the authoritarian regime. Find out more about this week's developments.
June 4, 2021
Innovation is Key for Austria's Climate Neutrality by 2040
At the Mission Innovation Ministerial Summit in Chile, Austria's Climate Protection Minister Leonore Gewessler and her international counterparts stressed the importance of innovation for achieving the Paris Agreement.
June 4, 2021
Tikhanovskaya and Kurz: Targeted Sanctions for Belarus Needed
Svetlana Tikhanovskaya, Belarusian opposition leader, and Austria's Chancellor Sebastian Kurz held a video conference to discuss the current developments in Belarus. Read more about possible sanctions below.
June 2, 2021
New CEO for OMV: "Beginning of a Major Transformation"
The Austrian multinational company OMV has appointed a new CEO. After the current and parting CEO Rainer Seele has been facing heavy public criticism, OMV will now try to rebuild its image.
June 2, 2021
Taiwan and Austria: Current State of Political and Trade Relations
The relations between Taiwan, officially the Republic of China (ROC), and Austria are developing stably despite the current tensions in the South China Sea.
June 1, 2021
China and Austria: Extension of Climate Neutrality Research Agreement
On the occasion of the 50th anniversary of diplomatic relations between China and Austria, the Chinese Minister of Science and Technology Wang Zhigang and Austria's Climate Protection Minister Gewessler extend the agreement for cooperation in research and technology in the field of climate neutrality.
June 1, 2021
Covid-19 in Austria: Easing of Measures in June and July
The Austrian government has announced a reduction of restrictive measures for June and July. A return to normality, as Austria's Chancellor Kurz has always promised, might be possible with a few exception by late summer. Find out more about every change below!
May 31, 2021
2025: Rail Connection Vienna - Bratislava in 45 Minutes
Cutting the travel time between Vienna and Bratislava short by 15 minutes is the goal of the planned double-track expansion between the EU capitals. Read more about the implementation and the benefits of the construction works.
May 28, 2021
Weekly Briefing: Green Passport is Coming Soon
After the EU countries and the EU Parliament have agreed on the framework for an Europe-wide Green Passport implemented on July 1, Austria will have its version ready by the beginning of June. Find out more about this week's developments.
May 27, 2021
New Cargo Airline Relocates to Austria
Express service provider DHL Express is relocating a large part of its cargo airline from England to the Vienna area. The new cargo airline for the European market, based in Austria, is said to be a strong signal for the location.
May 26, 2021
Vienna Selected as Most Desired Luxury Travel Destination
Vienna has one yet another award. After being selected as the most liveable city of the world for a number of years already, Vienna has now been awarded the prize for the "Most Desired Preferred Destination" by the luxury travel network "Traveller Made".
May 26, 2021
How Expensive is Rent in Austria?
The rent costs in Austria vary depending on the duration, region and type of rental segment. Find out more about the exact amounts you have to pay across Austria!
May 25, 2021
EU Countries Agree on Green Passport by July, Austria Plans it for June
The EU countries and EU Parliament have agreed on an Europe-wide "Green Passport" by July 1, while Austria intends to have its Green Entry Pass ready by the beginning of June. Can the Austrian solution be implemented in the EU-wide certificate? Find out below!
May 21, 2021
Weekly Briefing: Vaccination for Everyone in Austria
Austria has ended its drastic measures to contain Covid-19 and re-opened borders as well as restaurants, cultural establishments and alike. Vaccines will soon be available to everyone, even to teenagers. Find out more about this week's developments.
May 20, 2021
Berlin - Prague - Vienna: Plan of 4 Hour Rail Connection
Berlin to Prague to Vienna in four hours? A travel time that is now only possible via plane will become reality via a rail connection. A memorandum to this effect was signed by Germany, the Czech Republic and Austria.
May 19, 2021
How to Get Into Austria as of May 19
In line with the opening steps in Austria, the government has announced new entry regulations, which should ease the travel to Austria. Read all about the regulations below!
May 18, 2021
UK and Austria Work on Post-Brexit Agreements
During his visit to London, Austria's Foreign Minister Alexander Schallenberg met with his British counterpart Dominic Raab and with Brexit Minister David Frost. Both the United Kingdom and Austria have reiterated their commitment to bilateral cooperation.
May 18, 2021
Austrian Railways Relaunch International Connections
It is now once again possible to travel to European metropolises with the Austrian Railways (ÖBB). With the opening steps in the various areas of public life in Austria on May 19, the ÖBB has also revealed some changes to its schedules.
May 17, 2021
European Commission Forecasts GDP Growth for Austria
In its spring forecast, the European Commission has issued GDP growth rates for all its member countries as well as for the EU as a whole and the euro area. Read more to find out the exact rates.
May 17, 2021
Weekly Briefing: Bilateral Agreements Could Replace EU-wide Green Passport
In a number of bilateral talks, Austria has emphasized the need for an EU-wide travel solution for the summer. In case Brussels is not picking up pace, bilateral agreements with European countries could replace the European "Green Passport". Find out more about this week's developments.
May 14, 2021
Viennese Start-Up Event Reaches 10 Million People
The Viennese startup event ViennaUP'21, which took place from April 27 to May 12 in a virtual format, can be viewed as a success. The reasons behind its success, the highlights of the event as well as what remains can be found out here!
May 14, 2021
EU-Wide Minimum Wages: Kurz and Kocher Reluctant
Austria's Chancellor Kurz and Labor Minister Kocher took part at the EU social summit, which dealt with social injustice in all its facets. Among the possible measures to fight injustices, EU-wide minimum wages could be implemented, which would have an enormous impact on the economy.
May 11, 2021
Rating Agencies with Positive Outlook for Austria
Both Standard & Poors and Fitch have affirmed Austria's AA+ rating although noticing Austria's high spending for Covid-19 measures and assuming weaker economic recovery compared to the eurozone. Read more about the reasons for the ratings below.
May 10, 2021
Austria Sees Potential Global Economic Leadership
Only recently, the Austrian government has announced a comprehensive location strategy, which should enable Austria to position itself among global economic leaders in some particular segments.
May 10, 2021
Weekly Briefing: End of Lockdown for Vienna and Lower Austria Stirs Up Hope
Now Vienna has also officially confirmed that on May 19 the long-awaited opening will take place. The end of the lockdown in Vienna and Lower Austria and nationally reaching 3 million Covid-19 vaccinations are not the only indications that the Austrian economic recovery gets off the starting blocks. Find out more about this week's developments.
May 6, 2021 · Updated: May 6, 2021; 17:05
Slovakian Prime Minister Meets Kurz and Van der Bellen
The newly appointed Prime Minister of Slovakia Eduard Heger has travelled to Vienna to meet with Chancellor Sebastian Kurz and President Van der Bellen. On the agenda of the working meetings were the Covid-19 pandemic, border management and nuclear energy. Read below to find out more about possible bilateral agreements with regard to the "Green Passport".
May 6, 2021
How Austria Plans its Economic Recovery
The Austrian government has submitted its final plan for the European Reconstruction fund, in which projects for economic recovery are listed. These planned measures will receive funding of over EUR 3.5 billion by the EU. Find out what the areas of focus for the investments are.
May 5, 2021
Unemployment Decreases: Austria's Economy Trends Upwards
Austria's economy and employment show signs of recovery. The recent unemployment figures show a decline of about 8.7 percent in April compared to the previous month. Compared to last April, which was one of Austria's first months in the midst of the pandemic, this is a decrease of 32 percent.
May 4, 2021
Austrian Multinational Company Loses Current CEO
The Austrian multinational corporation OMV has announced that its current CEO, Rainer Seele, will end his term in June 2022. Only recently, criticism against OMV and Seele have increased. Find out more about how his end at OMV and the criticism relate.
May 3, 2021
Schallenberg and Ambassador to the U.S. Weiss Talk with Austrians in the United States
Austria's Foreign Minister Alexander Schallenberg and Austrian Ambassador to the United States in Washington, Martin Weiss, have held a virtual live talk with around 600 Austrians living in the United States. The topics discussed included dual citizenship, bilateral relations between the U.S. and Austria as well as the "Green Passport".
April 30, 2021
Liechtenstein's Prime Minister Met Kurz and Blümel in Vienna
The new Prime Minister of Liechtenstein, Daniel Risch, came to Vienna for a working meeting with Austria's Chancellor Sebastian Kurz and Finance Minister Gernot Blümel. On the agenda of the talks was the management of the Covid-19 pandemic, in particular the border management, and digital taxes.
April 30, 2021
Vienna Stock Exchange: Introduction of 13 Asian Companies
The Vienna Stock Exchange has expanded its offering on the global market by three Chinese and ten Japanese stocks. This addition was made after recently recording a growing demand for Asian shares. Among the new companies offered are the technology group Fujifilm and the pharmaceutical company Takeda Pharmaceutical.
April 29, 2021
Business Location: Austria Invests in Broadband Internet
The Austrian government has announced plans of investing EUR 1.4 billion into broadband expansion. The aim of the investment is to strengthen Austria as a business location and to enhance economic development in rural areas. By 2030, a quick and stable Internet connection will be provided nationwide.
April 29, 2021
Edtstadler in Madrid and Lisbon: Talks About "Green Passport"
Austria's Federal Minister for European Affairs Karoline Edtstadler has travelled to Spain and Portugal in order to discuss the fight against Covid-19, coordination in reconstruction and the "Green Passport". She demands an economic comeback that is characterized by green and digital transformation.
April 28, 2021
Dubai Expo: Which Austrian Companies Will Benefit from the Exhibition in the UAE?
Expo 2020 Dubai, which will take place in the United Arab Emirates from October 1, 2021 to March 31, 2022, is advertised above all as an opportunity for "Austrian companies to make a lasting impression with their innovative strength and creativity". The fact is that so far apparently only a handful of construction and design-related companies directly involved in the development of the Austrian pavilion financed by Austria are benefiting from the project. Which Austrian companies are involved in the project, you will find out in the following.
April 27, 2021
Austria Joins Global Renewable Energy Network
Austria has become a member of the REN21 Renewable Energy Network, an international community with actors from academia, governments, NGOs and industry. Austria's Climate Protection Minister Leonore Gewessler hopes for a closer collaboration between international stakeholders with regard to the energy transition around the world.
April 27, 2021
Austria Welcomes EU's Artificial Intelligence Framework
Austria's Minister for Digital Affairs, Margarete Schramböck, welcomes the new EU proposition of rules for artificial intelligence. Schramböck stresses the need for an EU-lead process and advocates for secure and innovative solutions that would "promote innovation while ensuring a high level of protection and security."
April 26, 2021
Covid-19 in Austria: Openings Start May 19
The Austrian government headed by Chancellor Sebastian Kurz has announced the opening plans for the near future. On May 19, previously closed sectors such as the tourism, events and sports sector will re-open, while restaurants and schools will also return to "normal" business. Entry requirements will be put in place in order to keep the risk of infection relatively low.
April 26, 2021
Activities of Arab Countries in Vienna to Strengthen Mutual Cooperation
The Austro-Arab Chamber of Commerce (AACC) under Secretary General Eng. Mouddar Khouja reports on various activities and means to strengthen mutual cooperation between Austria and the Arab countries UAE United Arab Emirates, Egypt and Qatar.
April 25, 2021
International Startup Event "ViennaUP21" Starts April 27
The startup event "ViennaUP21" will take place from April 27 to May 12 in a purely digital format. Within the umbrella of ViennaUP21, 40 program partners will be hosting 100 events for interested people, institutions and organization from more than 45 countries. Registration is free.
April 23, 2021
Edtstadler: "Raise Your Voice for the Future of Europe"
In preparation for the first ever Conference on the Future of Europe, the European Commission has launched a digital platform, on which European citizens can share their ideas on the future of Europe, organize events, participate in events, and network with other individuals and organizations. Austria will contribute by hosting a number of events and additionally provide information on a separate platform.
April 23, 2021
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