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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
Credit Costs to Rise in the Wake of Basel III
The new regulatory requirements are expected to increase the cost of credits and to reduce the Austrian banks’ profitability.
July 20, 2011
Slight Increase in Used Car Registrations from January to June
Registrations of used motor vehicles in the first half of 2011: +2.4%; passenger cars +1.5%, lorries +1.0%.
July 20, 2011
Rise of Industrial Producer Prices Is Slowing Down
Prices of industrial goods gained 4.6% in May 2011. For the first time in six months the annual rate of change was less than 5%.
July 20, 2011
update software AG Returns to Profitability
The Austrian software company, which is listed on the Frankfurt Stock Exchange, is on its way back to black figures. Sales went up 29.2% in the second quarter, EBIT improved to positive earnings of € 0.2m.
July 20, 2011
Declining Profit for AT&S in the First Quarter
The Austrian technology company had a difficult start into the financial year. EBIT more than halved to € 4.4m. Nonetheless, the outlook has been confirmed.
July 20, 2011
Food Prices Continue to Rise Rapidly
Within three months, prices increased by more than 8%. The Austrian Chamber of Labor asked the government to take countermeasures.
July 19, 2011
Economic Growth to Slow Down in Second Half of 2011
Real growth is predicted to fall to 0.3% in the third quarter. The forecast is based on reduced export prospects, a lower number of new orders and the euro crisis.
July 19, 2011
Prices of Household Energy Up 9.8% in June
Fuel, heating oil and gas were identified as main price drivers. Compared to the last month, a slight decline in energy prices was registered.
July 19, 2011
Stress Test: Erste Group and Raiffeisen Passed, Volksbank Failed
Volksbanken Group is the only Austrian bank that failed the stress test. Taking into account the measures that are currently being implemented, the core tier I ratio would be above the benchmark.
July 15, 2011
Meinl Bank in the Red
Meinl Bank surprisingly presented results on Thursday. The institute slid into the red, while the Group was able to reduce losses.
July 15, 2011
Wealth Growth of Private Households Comes to a Halt
Austrian households’ financial assets increased only marginally to € 462bn in the first quarter. Investments in bank bonds were the driving factor with a total of € 1.1bn.
July 14, 2011
Inflation Rate Remains on a High Level
Consumer price inflation was steady at 3.3% in June 2011. Above-average price increases were registered for traffic and foodstuffs.
July 14, 2011
First Quarter: Agrana Improved Revenue and Earnings
The Austrian sugar, starch and fruit company increased revenue by 13.4% in the first three months of financial year 2011/2012. Operating profit went up 79.6%.
July 14, 2011
Missing the Kyoto Target Will Cost Austria € 800m
Total costs of missing the target for the period 2008 to 2012 will amount to not less than € 800m. € 450m have already been spent on the purchase of certificates.
July 13, 2011
AMS Announces New Record in Job Vacancies
The number of vacancies increased by 9.7% in the first half of 2011. Nearly all industries and provinces contributed to the development.
July 12, 2011
Strong Current Account Balance Is Driven by Exports
The Austrian current account showed a surplus of € 3.8bn in the first quarter of 2011. The total amount of Austrian FDI was higher than in the full year 2010.
July 12, 2011
Strong Development of Exports in Austrian Machinery Industry
In the first three months of the year, Austrian enterprises exported machinery and metalware for € 6.04bn. Germany is the main trading partner of the industry.
July 11, 2011
Slow Recovery in Banks’ Lending Activity
Corporate loans recovered faster than loans to private households. Interest rates have increased only slightly since April 2010.
July 11, 2011
OECD Calls for Reforms and Increased Efficiency
The OECD expects growth of 2.9% in 2011 and a further decline in the unemployment rate. To maintain the country’s performance the study recommends reforms in many areas.
July 11, 2011
New Motor Vehicles: All-Time Record in First Half of 2011
January to June 2011: Increase of new motor vehicle registrations by 9.9 % to 245,396 vehicles; new passenger car registrations up 10.6%.
July 11, 2011
Economic Report 2011: Government Surprised by Quick Recovery
Experts praise Austria’s relatively stable performance during the years of crisis and call for reforms necessary for ensuring the country’s competitiveness.
July 8, 2011
Majority of Investment Funds with Positive Development in June
June was another successful month for Austrian funds: 1,233 out of 1,628 funds showed a positive performance.
July 8, 2011
Austrian Banks React to ECB’s Interest Rate Decision
The Austria banks quickly passed on the interest rate hike to their customers. Christoph Leitl regards the decision as an impediment for budgetary consolidation.
July 8, 2011
European Stress Test Results to Be Published on July 15
The test performance of 91 participating banks will be available next week. According to Moody’s, Austrian Volksbanken AG is at risk of failing the test.
July 8, 2011
January to April: Dynamic Development in Foreign Trade
Austrian imports and exports increased by one fifth in the period from January to April 2011. The global foreign trade balance showed a deficit of € 2.08bn.
July 8, 2011
AT&S Confirms Outlook
The Austrian technology company reported a successful business year 2010/11 in its Annual General Meeting and increased its dividend pay-out significantly.
July 7, 2011
Government Debt Committee Sees No Margin for Tax Cuts
The committee called for debt reduction and warned against a tax reform. The gap between government revenues and spending is increasing.
July 7, 2011
Plansee Group Achieved Sales Record
The Austrian provider of metallurgically manufactured products increased revenue by 46%. A new factory near Shanghai is scheduled to start operation in 2012.
July 7, 2011
Schlumberger with Slight Growth in 2010/11
The Austrian stock exchange listed champagne and spirits producer has achieved EBIT growth of 50% in the financial year 2010/11. Revenue increased by 2.4%.
July 7, 2011
Austrian SME Increase Investments
Sentiment in the SME sector is improving: 60% are planning to grow in the medium to long term. Enterprises increasingly rely on internal financing.
July 6, 2011
Strong Increase in Wholesale Prices
Wholesale price index in June 2011: +8.9% against June 2010, +0.5% against May 2011. Main drivers were cereals, fertilizers and gasoline.
July 6, 2011
Austrian Companies to Participate in Russian Research Center
The planned technology park will be home to up to 40,000 researchers. Twenty Austrian companies have expressed interest in participating in the project.
July 5, 2011
Growing Output in the Electronics Industry
The production level of 2008 will be reached again this year. Growth is mainly driven by increasing exports and a positive development in the automotive industry.
July 5, 2011
Strong Decline in Retail Trade Volume
The Austrian retailers recorded a 2.3% drop in trading volume in May. It was the fourth highest decline of all EU member countries.
July 5, 2011
Significant Decline in Stock Exchange Turnover
Trading volume at the Vienna Stock Exchange has fallen dramatically in the first half of the year. The negative development is blamed on the capital gains tax on securities.
July 5, 2011
Economic Council Met for the First Time
Representatives from business and politics came together in the Federal Chancellery. The round of talks will be held three to four times a year.
July 4, 2011
ÖBB’s Debt Will Amount to € 30bn in 2020
Large infrastructure development projects will almost double the Austrian Federal Railways’ debt. In relation to other European countries, Austria spends the second highest amount per capita on the expansion of rail networks.
July 4, 2011
Foreign Trade: € 35m for Promotion of Exports
82% of Austrian exports go to other European countries. The state and the Economic Chamber start a new initiative to increase trade with BRIC countries.
July 4, 2011
Massive Increase in Household Energy Prices in May
Energy prices were up 9.7% year-on-year, while a slight decline was registered compared to the last month. Main drivers were fuel and gas.
July 4, 2011
Austrian Industrial and Construction Turnover up by 14.0%
Positive production trends in industry and construction in March 2011; turnover +14.0%. Metal industry and automotive industry are dominant factors.
July 1, 2011
Moody’s Gives Negative Outlook for Carinthia
Austria’s southernmost province received a negative outlook due to an increasing budget deficit, high debt and credit guarantees for Hypo Alpe Adria.
July 1, 2011
New Employment Record in June
The number of unemployed fell by 2.3% to 268,866 in June. The positive development has lasted for 16 months already.
July 1, 2011
Economic Upswing Continues: Wifo and IHS Expect 3% Growth
Both research institutes revised their forecast for the current year upwards. Economic risks are also predicted to increase.
July 1, 2011
S&T: Operating Loss Widened
The ailing Austrian IT service provider has not yet achieved the turnaround. Half of the company’s share capital has already been used up.
June 30, 2011
Construction Output Down by 5.1%
Austrian output of construction of buildings and civil engineering decreased by 5.1% from January until March 2011. Volume of orders fell by 3.2%.
June 30, 2011
Austria’s Foreign Trade Close to Record Level
Austrian imports and exports recovered strongly and increased by more than 16% in the year 2010. The trade balance deficit amounted to € 4.28bn.
June 30, 2011
Austrian Government Debt Grew to € 210bn
Debt of the federal sector increased by € 6.3bn, while all other sectors registered a decline. Social insurance carriers’ debt fell by 32%.
June 30, 2011
Industrial Activity Is Cooling Down
Growth of Austrian industrial production has reached its lowest level since the beginning of 2010. The rate of job creation is leveling off.
June 29, 2011
Increase in Austrian Electricity Price below EU Average
Electricity and gas are relatively expensive in Austria compared to other EU countries. The electricity price rose by 1.1% in 2009/10.
June 29, 2011
Retirement Provisioning: Austrians Put aside € 63 per Month
Retirement provisioning study 2011: Austrians prefer low-risk investments. 58% rely on the financial knowledge of their bank account managers.
June 29, 2011
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