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Vienna International Business News | Economic | Investment | Financial

Bank Austria sees euro zone as main risk for growth

Institute raises forecast for 2010 slightly to 3.1 percent

June 28, 2010

OeNB - Stress tests discriminate against European banks

The Austrian banks have become more stable compared to the autumn of 2009, as analyzed by the Austrian National Bank. However, "stress tests" could cause lengthy aid procedures in Europe.

June 25, 2010

EU - Austria granted to extend bank aid package

The European Commission extended the authorization for the Austrian bank rescue package of €100b ($123b) for half a year.

June 25, 2010

KTM Power Sports AG - KTM speeds up earning rise in the third quarter

The KTM-group is expected to generate an EBIT of €12.4m in the 3rd quarter of 2009/10 and is heading for an overly positive business year 2009/10.

June 25, 2010

EU accuses Austria of hurdles in buying property

The European Commission refers Austria to the European Court of Justice. Reasons are fundamental barriers to the acquisition of agricultural land in Vorarlberg.

June 24, 2010

INSITO international symposium on the quality of work in Vienna

Securing and improving working conditions, health and safety at work in times of crisis will be discussed from today by international scientists and interest representatives from Vienna.

June 24, 2010

Bene AG - Results for the first quarter of 2010/11

In the first quarter of 2010/11 sales and earnings of the Bene Group were still affected by the difficult economic environment in most of the markets.

June 23, 2010

Publication of the stress tests on Friday

In the second half of July, the results of the stress tests for the 25 leading banks in the community will be published. Previously such reviews, as well as the national results of stress tests for all banks of a country, were kept top secret.

June 23, 2010

Migration barriers - Austria missing out on Human Capital

Due to existing migration barriers, Austria looses highly skilled workers who are hard to find, especially in the years of the boom in the domestic labour market.

June 23, 2010

Quo vadis Europe? Crisis summit at the University of Linz

Corporate crises, bank failures and bankruptcies of entire economies: Europe is struggling with the agenda of national and international restructuring plans.

June 21, 2010

EU government leaders agree on bank tax

Financial transaction tax demanded for G-20.

June 17, 2010

Inflation or deflation?

According to Wolfgang Braun at BörseExpress, there is fear among the citizens: the fear that they might lose their savings through inflation.

June 17, 2010

Christoph Hinteregger new chief negotiator of metalworkers

Deputy chief negotiator is Alfred Hintringer - former chief negotiator Hermann Haslauer available as consultant.

June 17, 2010

Tumpel - No mass taxes!

Higher taxes would further boost inflation - rising prices mean less purchasing power and ultimately less growth.

June 16, 2010

Finance Minister Pröll against publication of stress tests

Finance Minister Josef Pröll has expressed his discontent at a press briefing this afternoon about the current European debate on the publication of stress tests of individual banks based on the U.S. model.

June 16, 2010

Austrian Chamber of Commerce - Fritz Aichinger is the new chairman of trade

Aichinger succeeds Erich Lemler – Deputy: Jutta Pemsel and Wolfgang Sauer

June 16, 2010

Slight fall in inflation in May 2010 to 1.9%

According to calculations by Statistics Austria, the inflation rate for May 2010 was 1.9%, slightly lower than in previous months (both 2.0% in April and March).

June 16, 2010

Hungary - Orbán's crusade has what it takes for an export success

Viktor Orbán could have used his appearance at the IIF conference in Vienna to refurbish the image of his bankrupt government.

June 15, 2010

Kogler accuses Leitl of fiscal incompetence

WKÖ chief to submit reorganization plan or to remain silent.

June 14, 2010

OMV could be an accomplice in war crimes and crimes against humanity

OMV produced oil from 1997 to 2003 in sector 5A in Sudan. The current report of the European Coalition on Oil in Sudan (ECOS) provides new evidence that there is a direct link between oil production and the intensification of the conflict.

June 14, 2010

Survey - Restrictive lending in Austria

In a survey of the Credit Protection Association (KSV 1870) entrepreneurs declared, that borrowing is currently slow, and the allocation restrictive.

June 14, 2010

OeNB revises growth forecast for 2011 and 2012

Austria's economy will grow 1.6 to 2.1 percent from this year to 2012 to 2.1 percent, as estimated by the Austrian National Bank.

June 14, 2010

Austria has 39,077 dollar-millionaires

The number of dollar millionaires did not only rise in Austria but also increased substantially worldwide.

June 11, 2010

Pröll - Austria will introduce a bank tax in a solo attempt.

"The bank tax will be discussed together with the banks and it will be implemented, I stand for that," announced Finance Minister Pröll.

June 11, 2010

Hochhauser - Austria's business landscape is becoming more and more an female entrepreneur landscape

Special Prize of the Economic Chamber of Austria "women in leading positions" goes to Margaret Fürtbauer.

June 11, 2010

Green Party Vienna sharply criticises the Summit Bank

"Scandalous interplay of politics and banks'

June 11, 2010

Fresh money for upcoming infrastructure projects

If it was for the BZÖ party, parts of the ÖBB should by privatised by being listed.

June 10, 2010

Austria's economy further weakens

The gross domestic product of Austria fell in the first three months of this year by 0.1 percent.

June 10, 2010

Austrian President Dr. Heinz Fischer - banks should also make contribution to costs of the crisis

Austrian President Dr. Heinz Fischer said today at the IIF conference in Vienna "a developed social system and equitable distribution of income and wealth for the economic efficiency and political stability of a country are particularly important".

June 10, 2010

IIF Meeting - Viennese outcry against Basel

At its meeting in Vienna on Thursday, the World Bank Association IIF (Institute of International Finance) presented a study on the impact of stricter banking regulations.

June 10, 2010

Service sector achieved increase of turnover by 1.2% in the first quarter of 2010

According to Statistics Austria, based on results for the first quarter of 2010, turnover of Austrian services enterprises at nominal values rose by 1.2% compared to the first quarter of the year 2009.

June 9, 2010

Slight increase in trade deficit

In the first quarter of 2010, according to “Statistik Austria”, goods worth of €24.89b, were imported which is 3.8 percent more than last year.

June 8, 2010

Manpower - Employment Outlook for third quarter in 2010

As reported 13% of domestic recruiters intend to higher workers. Only 5% have to reduce staff. 88% can cope with current employee numbers while 2% still fluctuate.

June 8, 2010

Vassilakou - 50,000 new green jobs in Vienna possible

"50,000 new green jobs are possible in Vienna," says the club chairwoman of the Greens Vienna, Maria Vassilakou, in reference to a study by Greenpeace presented today in Berlin, that the world could produce 8.5 million jobs in the renewable energy.

June 7, 2010

Austrian Export Day - Summit of the Austrian export industry

In these economically challenging times for companies, greater efforts are needed to internationally to take off.

June 7, 2010

Wholesale prices in May 2010 - plus 4.9% compared to the previous year

The index of wholesale prices, (GHPI 2005), for the month of May 2010, registers 110.6 (provisional figure), an increase of 0.4% over that of the previous month according to calculations of Statistics Austria.

June 7, 2010

Schieder wants ban on short selling

The Financial Secretary sees Germany as role model.

June 4, 2010

WIFO - Economy of the industrialized states in 2009 is suffering greatly from export decline

The economic situation in the Austrian Provinces in 2009 was hit by the economic crisis especially the manufacturing sectors.

June 2, 2010

Tumpel - draw lessons from the crisis

"The financial markets and their actors have brought the worst economic crisis since the Second World War "says Austrian Chamber of Labour President Herbert Tumpel...

June 2, 2010

Tumpel pleased with labour market revitalization

"The recovery in the labour market is a welcomed development. This shows that the economic stimuli programmes and actions of the Minister of Social Affairs are important and correct, "says AK President Herbert Tumpel.

June 1, 2010

Transport volumes of rail transports decreased significantly by 18.7% in 2009

The economic crisis affected transportations on the Austrian railway network as well.

June 1, 2010

Provisional number of new passenger car registrations in May 2010: -1.9%

According to provisional results, a total of 29167 new passenger cars were registered in May 2010, representing a decrease by 1.9% compared to May 2009.

June 1, 2010

Industry force - participation of domestic companies in global emerging markets

It can be seen as a "disastrous economic policy error comparable to a self-imposed trade embargo" describes Secretary General of the Federation of Industrialists (FI) Markus Beyrer the abandonment of the export orientation of the Austrian economy.

June 1, 2010

Annual Economics Conference of the OENB discusses “Central Banking after the Crisis”

Each spring, the Economics Conference of the Oesterreichische Nationalbank (OeNB) provides a forum for policymakers, academics and the interested public to discuss topical issues in economic policy.

May 31, 2010

Eurostat confirmed steady deterioration of Austria to the electricity and gas prices

The European Statistical Office (Eurostat) recently released the latest budget for electricity and gas price.

May 31, 2010

Telekom Austria approves dividend of 75 cents

Austria's telecommunications service provider Telekom Austria decided at its regular meeting today, a dividend of 0.75 euros for 2009.

May 28, 2010

The transport volume in road freight transport decreased in 2009 by almost 9%

According to calculations by Statistics Austria 336.6 million tons of goods were transported by road vehicles for the transport of goods registered in Austria on 26.0 million laden journeys.

May 28, 2010

Women’s Report 2010 - Women’s earnings still lower than men’s

Women earn 25.5% less than men in Austria. This is the result of an analysis carried out by Statistics Austria on the situation of women in Austria for the "Women’s Report 2010".

May 28, 2010

Austrian federal government is now sole owner of the Federal Reserve

The price fluctuations in international currency markets helped the Austrian National Bank (OeNB) in 2009 to a strong profit increase.

May 27, 2010

Petrol price boards

Last summer’s petrol price regulation came into force, whereby the oil companies can raise prices only once a day. This should be extended in an improved form.

May 27, 2010