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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
State Secretary for Finance: Euro-bonds as a Medium-term Strategy
The Austrian State Secretary for Finance, Andreas Schieder, does not discard Euro-bonds, against the majority view of German and Austrian politicians.
December 31, 2010
Massive Rise of Debt in the Public Sector
Austria's debt is rising dramatically. Not only the state budget, but also the provinces and municipalities are the major contributors to this situation.
December 31, 2010
Changes in Living Standard of Austrians
A WIFO study compares the required average working time of industrial workers to the purchase of goods and services over the passage of time.
December 31, 2010
Sales Drops in Austrian Construction Industry
The construction output value in building construction and engineering decreased by 3.5% from January to September 2010. The order situation is also deteriorating.
December 31, 2010
Profit Warning at S&T
The Q4 data of the Austrian software consulting company show negative operational results.
December 31, 2010
Atrium Reacts Sharply to Meinl´s Lawsuit
Atrium European Real Estate Ltd comments the recent lawsuit by Meinl Bank: “A desperate response.”
December 31, 2010
Austria's Material Goods Production Increases Massively
The production trend in the manufacturing and construction industry shows a positive effect in September 2010. Sales increased by 10.3%.
December 31, 2010
Immofinanz Sues Lobbyist
The Austrian real estate group Immofinanz sues its former adviser, Walter Meischberger, because of the "Buwog Affair".
December 30, 2010
Nowotny Calls for Consistent Budget Consolidation
The Governor of the OeNB draws balance at the end of the year and gives his outlook on the challenges for 2011
December 30, 2010
Austria's Labor Market Opens
As of May 1, 2011 the German and Austrian labor markets open for the new EU citizens. Romania and Bulgaria will follow suit in 2013.
December 30, 2010
Billion Worth Qatar Holding Explores Investment Opportunities
The Austrian economy expects closer relations and potential export opportunities as the result of the state visit of the Emir of Qatar.
December 30, 2010
WIFO Director: "Crisis was not Taken Advantage of to Introduce Reforms"
In an interview with the newspaper "Kurier", the head of the WIFO criticizes the lack of commitment to reforms. His perspectives for Austria are nevertheless optimistic.
December 30, 2010
Meinl Starts New Actions against Atrium
The exchange of blows between Meinl Bank and Atrium is getting more violent. Meinl Bank is presently filing a claim before the Arbitration Court of the Economic Chamber.
December 29, 2010
WIFO: Lack of Competition in Austria
According to WIFO, lack of competition is causing a growth bottleneck in Austria and requires legal action by the government and the EU.
December 29, 2010
State Visit from Qatar in Austria
As part of a three-day state visit by the Head of State of Qatar, talks on economic topics are mainly planned.
December 29, 2010
Leitl Demands Reforms
The President of the Austrian Economic Chamber calls for more Government work in administration, health and education.
December 29, 2010
Good Prospects for Austrian Exports
The outlook for 2010 is favorable after the sharp decline of Austrian goods exports in the crisis year 2009 (-20.2%), .
December 29, 2010
Bank Austria CEO Cernko: Austrian Banks Fight Securities Tax
The CEO of Bank Austria, Willibald Cernko, was interviewed by the newspaper “Kurier”. He announced that Austrian Banks will call the Constitutional Court.
December 29, 2010
Illegal Employment Grows
One of four Austrian firms employs illegal workers from abroad.
December 29, 2010
Profits Increase for Banks in Austria
The profitability in the first three quarters of 2010 of Austrian banks shows continued strong growth.
December 29, 2010
Spindelegger: Turkey's Joining the EU Will Not Happen Before 2024
In an interview with the "Wirtschaftsblatt", the Austrian Foreign Minister stresses the relevance of Turkey. Croatia should come into the EU much earlier EU.
December 29, 2010
Chamber of Labor Calls for a More Equitable Distribution
Corporate profits on one hand and reduced working hours, dismissals and wage cuts on the other, are not compatible for the Chamber of Labor.
December 28, 2010
Meinl Bank Shows Losses
Due to the elimination of investments, Meinl Bank slips into the red zone. The loss amounts to € 37m.
December 28, 2010
Raiffeisen Foresees a Weak Decade for Europe
RLB Niederösterreich-Wien expects hardly any economic growth, particularly in the euro countries. Austria is however relatively well positioned.
December 28, 2010
Sanader Remains in Extradition Custody
Custody prior to extradition was imposed on the former Croatian Prime Minister Sanader. He complains about the "arbitrariness of the Croatian authorities".
December 28, 2010
Further Rise in Energy Prices for Households
Austrian energy prices in November 2010 were higher by 5.8% compared to the previous year. Only gas became cheaper.
December 27, 2010
Economic Chamber Criticizes Import Control System
According to the WKÖ, Austrian businesses incur additional costs and bureaucracy by the import control system.
December 27, 2010
Generali Money Study: What Austrians Will Spend their Money on in 2011
More money will be spent on vacations, housing and sports. Propensity to consume is higher in men.
December 27, 2010
Schlumberger: Seasonal Business Goes Well
Austria's largest producer of sparkling wine was able to improve its results and sales. Only the cash flow remains negative.
December 27, 2010
CO2 Emissions in 2009 Decreased by 4.75m Tons
Energy-related CO2 emissions decreased in 2009 in Austria by 4.75m tons or 7.4% to 59m tons, according to WIFO estimates
December 27, 2010
Higher Bank Tax for Bank Austria
The UniCredit-subsidiary Bank Austria will have to pay a bigger amount of the bank tax in 2011. The contribution in the following year decreases.
December 27, 2010
Analysts Predict Good Year for ATX
According to analysts, the Vienna Stock Exchange will experience a favourable performance in 2011. However, 2011 won´t surpass 2010.
December 27, 2010
Income Report: Workers' Wages Fell in Real Terms
In its income report, the Audit Court presents the evolution of the income of the Austrians. Increasing differences can be identified.
December 24, 2010
Investigations Against Sanader Continue
The investigation of Austrian and Croatian authorities against the former Prime Minister of Croatia in the Hypo affair are being intensified. Many questions remain unanswered.
December 23, 2010
Production Increased over 5.2% in October
The production index for October 2010 of Statistik Austria shows an increase of over 5.2% compared with October 2009.
December 23, 2010
Foundations: Greater Legal Certainty for Founders
A new amendment to Austrian private foundations law allows more clarity for private founders.
December 22, 2010
Hypo Group: Sanader Denies Payments of Commissions
The former Croatian Prime Minister Ivo Sanader, questioned in Salzburg, denies having ever received money from the Hypo Group.
December 22, 2010
AAA Rating Confirmed for Austria
The rating agency Standard & Poor’s; leaves Austria’s credit status unchanged.
December 22, 2010
Austria's Export Economy is Booming
Given the high growth rates in the past year, the Austrian export economy shows itself also optimistic for 2011.
December 22, 2010
Leitl: Municipal Financial Problems Act as Growth Brake
The President of the Austrian Federal Economic Chamber (WKÖ), Christoph Leitl, demands greater spending efficiency in the public sector in order to improve municipal finances.
December 22, 2010
Urgent Need for Capital at Austrian Banks
Walter Rothensteiner, Chairman of RZB as well as the Credit Division of the Economic Chamber, considers that domestic banks are under massive capital pressure.
December 21, 2010
Austrian Official Debt Level Rises
Due to the EU-wide commitment to a more transparent presentation of liabilities, the official debt ratio of Austria will continue to increase.
December 21, 2010
Austrian Supervisory Boards Come Out Favorably in Worldwide Comparison
According to a KPMG study, Austrian supervisory board members are informed timely and sufficiently about in-house operations.
December 21, 2010
The KSV Publishes Austrian 2010 Insolvency Statistics
The Kreditschutzverband (KSV, Credit Protection Association) has established an 8% decrease in corporate insolvencies.
December 21, 2010
Above-Average Labor Market Data for Austria
Compared with Europe, there are relatively a lot of people of working age employed in Austria. The proportion of unemployed is also low.
December 21, 2010
Brain Force Reports Positive Turnaround
Brain Force Holding AG, an Austrian IT services provider, announced its business results for the 2009/10 fiscal year.
December 21, 2010
ÖIAG: Sale of the Post and Telekom is possible
Peter Michaelis, the departing CEO of the Austrian state holding company (ÖIAG) is considering the sale of interest holdings.
December 20, 2010
Meinl against Atrium: Up to 7,000 Lawsuits
The Austrian bank files lawsuits against the successor company of her former real-estate funds MEL.
December 20, 2010
Further Increases in Prices of Industrial Goods
Increase in industrial producer prices in October 2010 is, according to Statistik Austria, +4.0% compared with the same month last year.
December 20, 2010
Immofinanz Records Increasing Revenues and Earnings
Revenues of the Austrian Real Estate Company were up by 3.3%. EBIT increased by 19%.
December 20, 2010
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