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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
Austria in the Upper Third of Comparative Price Levels across Europe
Austria recorded the eighth highest price level among the 27 EU member countries. Food and energy were found to be the most expensive segments in the country as compared to European prices.
June 28, 2011
Profit Situation of Austrian Banks Improved Significantly
The banks recorded a positive development in the first quarter. However, net profits of the full year will fall as a result of the newly introduced bank tax.
June 27, 2011
Zumtobel Achieved Turnaround
The Austrian lighting company announced strong results. Revenues increased by 10.2%. Net profit for the year is firmly back in the black at € 51.3m.
June 27, 2011
“We Need to Increase Support for SME”
Experts say the government’s efforts for increasing the research quota are half-hearted. € 600m per year would be necessary to achieve the target.
June 24, 2011
Austrian Labor Market Relatively Stable during Crisis
A recent study shows: The labor market has weathered the economic crisis. Politicians and companies have taken the right decisions.
June 24, 2011
Constitutional Court Cancels Starting Date of New Capital Gains Tax
The Court has no objections to the new capital gains tax itself. Only the starting date for automatic collection by the banks was declared unconstitutional.
June 24, 2011
Further Growth in Production in April 2011
Production index in April 2011: +9.7% compared to April 2010, +1.3% against March 2011.
June 24, 2011
Significant Rise in Used Car Registrations
Registrations of used motor vehicles in May 2011: +12.3%; passenger cars +9.2%, lorries +13.5%.
June 22, 2011
Agrana Increases Annual Guidance after Strong First Quarter
The Austrian sugar, starch and fruit company expects significant improvement in results in the financial year 2011/12. Revenue increased by 13% in the first three months.
June 22, 2011
Bene: Reduced Operating Loss in the First Quarter
The Austrian office furniture supplier achieved an increase in sales of 18.5% . The management still expects a slightly negative result for the full business year.
June 22, 2011
Austrians Support Aid for Greece
The majority of the Austrian population does not want to let Greece down. 55% see the common currency at risk.
June 22, 2011
International Business Important for Austrian Insurers
The Austrian insurance companies recorded moderate growth in the first quarter of the year. More than 50% of their premium income comes from their international business.
June 21, 2011
Almost One Million Shareholders in Austria
Compared internationally, the Austrian population has a very low interest in the stock market. Only 13% invest in shares or funds.
June 21, 2011
Bronze Medal for Austria’s Economy
According to a study by Allianz, Germany is the euro zone country with the healthiest economy. Luxembourg comes on the second rank followed by Austria.
June 21, 2011
Austrian Financial Sector Stable – Remaining Challenges in Particular Business Segments
Stress test results show Austria’s banks to be more resistant to risks than in 2010 – Boosting equity remains on the agenda nevertheless.
June 21, 2011
Retail Sector: New Discussion about Sunday Opening
The current dispute is about the right to open shops on certain lucrative Sundays. The operator of a shopping center has brought in an action at the Constitutional Court.
June 20, 2011
Patent Protection to Become Cheaper
In Europe patent protection is currently ten times more expensive than in the US or Japan. Austria will participate in an EU-wide cooperation which will reduce the cost significantly.
June 20, 2011
Atrium and Meinl Bank Agree to Stop All Legal Proceedings
The American-Israeli real estate fund and the Austrian bank reached a settlement agreement on the dismissal of all claims between them.
June 17, 2011
Austrian Economy Growing Faster than Eurozone Average
OeNB has revised its growth forecast for 2011 upwards to 3.2%. Lower rates are expected for 2012 and 2013.
June 17, 2011
Further Rise in the Industrial Producer Price Index
Prices for industrial goods continue their upward trend: +5.1% in April 2011 compared to April 2010.
June 17, 2011
Vienna Stock Exchange with Satisfying Results and Changes in the Supervisory Board
Heimo Scheuch and Andreas Brandstetter will succeed Wolfgang Reithofer and Konstantin Klien in the Supervisory Board of Wiener Börse AG and its parent company CEESEG AG.
June 16, 2011
Labor Market Continues Strong Development
The number of employed, vacancies, and full-time jobs increased in the first quarter of 2011. The feared inrush of job seekers from Eastern Europe did not materialize.
June 16, 2011
Inflation Rate Decreased Slightly in May 2011
The Austrian inflation rate fell from 3.3% in April to 3.2% in May 2011. Mineral oil and food products remained the main price drivers.
June 16, 2011
Record Loss for A-Tec in 2010
The insolvent company reported a loss of € 585m. Nonetheless, CEO Kovats sees a positive development and remains optimistic.
June 15, 2011
Palmers on the Way Back to Black Figures
The Austrian lingerie group’s results are still negative due to the acquisition of Lejaby. An expansion of the Palmers brand is planned in Germany and CEE.
June 15, 2011
Majority of Enterprises Satisfied with Business Development
According to the Economic Chamber’s business barometer, the climate for investments has improved further. Enterprises worry about labor force availability.
June 15, 2011
Further Increase in Construction Cost in May
Construction cost index in May 2011: +0.5% compared to the previous month, +1.5% year-on-year.
June 15, 2011
IMF Calls for More Ambitious Budgetary Consolidation
Austria was asked to make higher efforts to reduce its debt. The IMF recommends savings in the pension and health care systems as well as lower state subsidies in next year’s budget.
June 14, 2011
Stagnating Level of New Bank Lending
Loan development in the first quarter: increase in long-term lending, but decline in total corporate lending volume.
June 10, 2011
Miba Continues Its Growth Course
The Austrian component supplier’s level of orders reached a peak of € 260m. Sales increased by 41.5% to € 138.7m in the first quarter.
June 10, 2011
GDP Growth Lower than Expected
Instead of 1.0%, the growth rate in the first quarter was only 0.9%. A plus of 4.2% year-on-year was registered.
June 10, 2011
Further Rise in New Car Registrations
Registrations of new motor vehicles in May 2011: +19.7%; passenger cars: +18.4%, lorries: +25.3%
June 10, 2011
Massive Drop in Trading at the Vienna Stock Exchange
Trading volume slumped by 42% to € 4.4bn as a result of the new capital gains tax on securities. The proportion of Austrian investors fell to 26%.
June 9, 2011
Nuclear Power Phase-Out Will Cost Austria € 600m
According to calculations by E-Control, Germany’s decision to close down its nuclear power plants will affect the Austrian economy.
June 9, 2011
AUA: Broken Al-Jaber-Deal Has Consequences
One former and one current board member of the airline were sentenced to penalty payments for not having provided information to the shareholders.
June 9, 2011
Kapsch TrafficCom Records Strong Growth in 2010/11
The Austrian technology group reported the best result in its history in the last year. EBIT almost doubled to € 48.9m.
June 8, 2011
Economic Growth Is Based on Households and Exports
In 2010, Austrian economic output grew stronger than the Eurozone average. GDP amounted to € 284bn.
June 8, 2011
Slight Drop in Wholesale Prices
Austrian wholesale price index in May 2011: -0.9% against April 2011, +8.1% against May 2010. Main drivers were cereals, fertilizers and coffee.
June 8, 2011
Strong Growth in Foreign Trade in the First Quarter of 2011
Austrian imports and exports increased by 22% in the first three month of the year. In March, trade volume amounted to more than € 11bn in both directions.
June 7, 2011
ÖBB: Opposition to Privatization Plans
Austrian Finance Minister Maria Fekter has sparked a debate about the railway company’s future. Her plans have been criticized from many sides.
June 6, 2011
CEO of Verbund Expects Steady Increase of Electricity Price
Anzengruber demands faster approval procedures for the expansion of infrastructure in order to keep prices on an affordable level.
June 1, 2011
Austria Has 37,000 Dollar-Millionaires
Global wealth has grown by 8% in the last year. Austria is found among the countries with the highest concentration of millionaires.
June 1, 2011
Further Decline in Unemployment Rate
Compared to May 2010, the number of unemployed persons decreased by 2.5%. In April, Austria recorded the lowest rate among all EU countries.
June 1, 2011
Hirsch Servo Still in the Red
The Austrian machine manufacturer and packaging supplier improved its results in the first three quarters of the financial year. Operational turnaround is still planned for 2010/11.
May 31, 2011
Bank Austria: Austrian Industry Cooling Down
Growth of industrial production has slowed down in Austria, especially in the export sector. Job creation is still on a high level, but also losing pace.
May 31, 2011
Rail Freight Transport Increased in 2010
The volume of goods transported on Austrian railways increased by 8.9% in the last year. However, it is still below the level of 2008.
May 31, 2011
Strabag Raises Outlook for 2011 and 2012 after Solid Q1
The Austrian construction company increased its output volume by 26% in the traditionally weak first three months of the year. Operating result improved marginally to € -145.38m.
May 31, 2011
Strong Growth for voestalpine in 2010/11
The Austrian steel company increased its operating result by 180% to € 984.8m. Annual profit tripled to around € 600m.
May 31, 2011
Decreasing Output in Austria’s Construction Industry
Output of construction of buildings and civil engineering decreasing by 8.6% in January and February 2011. Increase in volume of orders in construction of buildings cannot compensate for decline in civil engineering at the end of February 2011.
May 30, 2011
Austrian Industrial and Construction Turnover Up by 14.7%
Opposing production trends in industry and construction in February 2011; turnover +14.7%. Automotive industry and metal industry are dominant factors.
May 30, 2011
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