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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
Below Average Privatization in Austria, according to ECEG
Regarding privatizations, Austria is still far behind, according to the European Coalition for Economic Growth (ECEG).
February 4, 2011
Manufacturing Industry on the Rise
The economic barometer of the Federation of Austrian Industries (IV) grows. Production increase and stable employment are expected.
February 4, 2011
Mitterlehner Wishes to Push SMEs and Venture Capital
The Austrian Minister of Economy launches an initiative with the aim of doubling the venture capital of Austrian companies to € 400m.
February 4, 2011
The Westbahn Complains Because of ÖBB-Subsidies
In December, the new “Westbahn” (Western Railway) will start competing with the ÖBB (Austrian state railways) which are allegedly being privileged by the government.
February 3, 2011
Industrial Association: Internal Solution for Succession
After the departure of Markus Beyrer, Christoph Neumayer as Secretary General and Peter Koren will lead the Austrian Industrial Association (IV).
February 3, 2011
Consumption Expenditure of Foreign Tourists Grows
Russian and Chinese tourists are proving to be particularly generous consumers in Austria. Overall sales rose by 23% in 2010.
February 3, 2011
National Bank Warns against Foreign Currency Loans
According to the governor of the Österreichischen Nationalbank (OeNB, Austrian National Bank), Ewald Nowotny, the sum of pending foreign currency loans in Austria is € 54bn.
February 3, 2011
Privatizations Could Raise up to € 24bn on Vienna Stock Exchange
Especially the privatization of public infrastructure and energy companies could increase the market capitalization of the Vienna Stock Exchange considerably.
February 3, 2011
Atrium Terminates Trust Agreements with Meinl
The US-American/Israeli fund Atrium terminates trust agreements with the Austrian Meinl Bank AG under the 2003 and 2005 bonds due to “important reasons”.
February 3, 2011
Leitl Demands Support for Brenner Tunnel
The President of the Austrian Economic Chamber considers the Brenner Tunnel infrastructure project as crucial for the business location Austria.
February 2, 2011
ÖIAG: Markus Beyrer is the New Chairman
The so far Secretary General of the Industriellenvereinigung (Industrial Federation), Markus Beyrer, is Peter Michaelis’s successor on the board of the ÖIAG.
February 2, 2011
Declining Unemployment in Austria
Uunemployment could be reduced by 4.3% even in the traditionally for the labor market difficult winter months.
February 2, 2011
Austrian Retail Trade Accelerates Economic Upward Trend
In 2010, the Austrian retail trade rose by 4.0%. Thus, this figure represents the highest retail trade growth since the 1990s.
February 2, 2011
Austria's Credit Industry Appeals to the Constitutional Court
The price gains tax introduced as of January 1, 2011 encounters legal resistance. The Banking Division of the Chamber of Commerce announced a complaint of unconstitutionality.
February 2, 2011
Innovativeness in Austria Drops
In the European comparison, Austria’s innovativeness is dropping and is presently located only in the upper mid-range.
February 2, 2011
AvW Trial: Eight Years in Prison
An 8 years imprisonment sentence was imposed on the founder and CEO of AvW Group, Wolfgang Auer-Welsbach,
February 1, 2011
Hypo Upper Austria Reports stable Profits
According to the management, the regional bank could exceed its own expectations. Annual profit was € 27m.
February 1, 2011
Austria's Budget Deficit is at 4.1%
Although the budget deficit is lower than expected, but the official national debt could increase considerably due to the ÖBB.
February 1, 2011
Skylink: Judicial Investigations are Presently being Conducted
The final report of the Audit Court on the Vienna International Airport Skylink project has been submitted. Criticism is devastating. Criminal investigations are starting.
February 1, 2011
Decreasing Output and Order Intake in Austrian Construction Industry
Output of construction of buildings and civil engineering decreasing by 4.1% from January to October 2010.
February 1, 2011
Atrium: "Meinl Exploited its Position as a Trustee”
After the repayment of the convertible bond to the Austrian Meinl Bank, the real estate funds considers the calling as "blatant unlawfulness."
February 1, 2011
Austrian Production Output up by 7.0%
Positive production trends in industry and construction in October 2010; turnover +7.0%.
February 1, 2011
Strong Increase of Industrial Growth at the Beginning of the Year
The Bank Austria Purchasing Managers Index shows a strong increase in production in January 2011 due to accelerated order growth.
January 29, 2011
New Record in Premiums for Uniqa
The Austrian insurance company announces apremium increase in group business by 8.4% to € 6.22bn.
January 29, 2011
Up to 150,000 Insolvent People in Austria
According to the Kreditschutzverband (KSV, Credit Protection Association 9,028 people were forced into personal bankruptcy last year. The number of people at risk is many times higher.
January 29, 2011
Meinl Bank to Cancel Previously Scheduled Bondholder Meeting
According to Atrium, a US/Israeli real estate company, circumstances causing a cross-default event do not subsist anymore.
January 29, 2011
Teak Holz Manages Turaround
The Austrian timber company could realize profits again in the fiscal year October 2009/September 2010.
January 29, 2011
Hope for Austria's Photovoltaic Industry
The development of alternative energy sources is being pushed by additional funding. EVN is also promoting alternative energies.
January 28, 2011
Leitl Welcomes Medvedev's Idea for a European-Russian Economic Area
Closer cooperation between the EU and Russia would "stabilize economic and social development". Austria's foreign trade with Russia is flourishing.
January 28, 2011
Sanochemia Stays in the Red
Despite improvements in its financial data, the Austrian pharmaceutical company Sanochemia does not succeed in eliminating its losses
January 28, 2011
New Sales Record for Novomatic
The Austrian gaming machine manufacturer considers the industry "on the upswing again". Casino licenses contributed to the result.
January 28, 2011
Meinl Bank Continues to Claim Default of Atrium
Meinl Bank: „Atrium zahlt Meinl Bank states: "Contrary to their own announcement Atrium is not paying back the 10.75% convertible bond". Cross default risk remains upright
January 28, 2011
Still Losses at update software AG
update software AG, an Austrian provider of CRM solutions listed on the Frankfurt Stock Exchange, has released its preliminary results for 2010.
January 28, 2011
Erste Bank to Expand its Corporate Customer Business
Business with local companies is set to grow twice as fast as the Austrian market. Share for SME business set to rise from 24 to 33% in the next 3 years.
January 28, 2011
U.S. Embassy on Hypo Group: "Mini-empire in the Balkans"
New Wikileaks documents indicate that the U.S. Embassy analyzed the symbiosis between the Austrian financial and political scene.
January 27, 2011
WKÖ Celebrates 40 years of Diplomatic Relations between Austria and China
The Austrian Economic Chamber stresses the relevance of China for Austria's foreign trade in the context of the anniversary.
January 27, 2011
Record Sales for BMW Austria
The German car manufacturer was able to set a new sales record in Austria last year. The engine plant also reports record sales.
January 27, 2011
Demand for Elimination of the ÖIAG
IAs part of the succession process for the CEO position at the Austrian industrial holding (ÖIAG) political representatives are increasingly imposing conditions.
January 27, 2011
Austria's Energy Self-sufficiency until 2050
The Minister for the Environment, Nikolaus Berlakovich presents a study on the Austrian energy supply. Self-sufficiency until 2050 is feasible.
January 27, 2011
Austrian Inflation to be well above 2% in 2011
Temporary price-drivers of fuels, commodities as well as the budget consolidation spurring inflation on, but lack of cyclical inflationary pressures.
January 27, 2011
Austria's Pension Funds: 6.61% yield in 2010
Austria's pension funds generated an income of around € 800m in 2010. The annual performance is above the long-term average.
January 27, 2011
Austria: The Gateway to Central Asia?
Leading Austrian politicians intend to attract attention at the World Economic Forum to what promises to be a new target region.
January 26, 2011
Bank Assistance is Lucrative for the State
Contrary to fears, revenues of the bank rescue package more than double the refinancing costs.
January 26, 2011
Austrian Gas Price Index Continues to Rise Slightly
The February 2011 Austrian gas price index (ÖGPI) recorded a slight increase over the previous month Compared to January, it rises to a value of 114.89.
January 26, 2011
Strong Increase in Sales at AT&S
The Austrian technology group records sales amounting to € 365m in the first nine months 2010, which is a plus of 34%.
January 26, 2011
Shortage of Skilled Labor in Medium-sized Enterprises
According to a report by Ernst & Young, the growth of two out of every three Austrian companies is hindered by the lack of qualified personal.
January 26, 2011
Palmers in the Red
The Austrian lingerie company has to accept operational losses in addition to an unprofitable acquisition.
January 26, 2011
Budget-saving Measures in Austria are Insufficient
According to the WIFO, budget deficit and public debt are lower than the EU average; central potential savings have been neglected however.
January 26, 2011
Vienna Insurance Group Shows 15% Increase in Profits
Significant plus of Group profit for the year (before taxes) by almost 15 percent to about € 505m. Increase of premiums written by 6.1 percent to € 8.7bn.
January 25, 2011
ÖIAG: Industrialist Beyrer is Favorite
In the discussion about the succession for the state holding company OIAG, the Secretary General of the IV (Federation of Austrian Industries), Markus Beyrer, is a favorite.
January 25, 2011
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