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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
OeNB Governor Nowotny "During the Crisis, the Euro Acted as a Protection Shield Beyond the Euro Area"
The Governor of the Austrian National Bank, Ewald Nowotny warns to fiscal discipline and talks about economic challenges and opportunities in Europe.
November 15, 2010
C-Quadrat Investment AG Reports Q1-3/2010 Results
The fund management company records increasing income as well as rising profits.
November 15, 2010
Infrastructure Development: Investing in the Future or Incurring Debt?
While industry competes for sites for the development of infrastructure, legitimate questions are being raised on financial issues.
November 15, 2010
Traffic Expenditures: € 4.3bn less
As a consequence of the new budget, public infrastructure projects are being reduced considerably. Postponed projects and low-cost alternatives will save money.
November 12, 2010
Fabasoft Announces Figures for the First Half of 2010
Fabasoft AG announces preliminary Group figures for the first half of the fiscal year 2010/2011. Slight losses are expected.
November 12, 2010
Wind Energy: Vendors Pressed for Time
Promotion for Austrian wind energy expires in 2012. The industry has only recently been able to set up new facilities.
November 12, 2010
It is Official: Coalition Between SPÖ and Greens in Vienna
Vassilakou becomes Deputy Mayor under Häupl. The program aims to have a recognizable green handwriting.
November 12, 2010
BWT Announces its Results for Q3
BWT records a strong growth in revenues and EBITDA. However, net results fell by 10%.
November 12, 2010
Austria: Strong Growth Again in the Third Quarter 2010
According to the latest flash estimate of the Austrian Institute of Economic Research (WIFO), Austria's economy again expanded in the third quarter of 2010 by 0.9% over the previous quarter (after +1.2% in the second quarter).
November 12, 2010
Carinthia: Industry Faces Stagnation
Despite recent positive economic data, Carinthian industrial firms are less confident. For the coming year, a stagnation in production and in profits is expected.
November 11, 2010
Linz AG: Pause After Investment Offensive
The municipal company recorded extraordinary high capital expenses in 2009. The next projects are still in the planning phase.
November 11, 2010
Telekom Srbija: Sale is Resisted
The partially for sale Telekom Srbija which Telekom Austria is said to be interested in, raises passions in Serbia. Opposition to the sale is taking shape.
November 11, 2010
Pankl Announces Results for 2009/10
The Styrian company Pankl Racing Systems AG presented its preliminary results for the 12-Month period in fiscal year 2009/10. Revenues grew by 20.5 percent in Q4.
November 11, 2010
Manner: Slight Decline in Sales and Profits
Sales of the Viennese confectionery manufacturer are 1.4% lower that those of the previous year. Continued high prices of raw materials put pressure on the results.
November 11, 2010
Standard & Poor’s: Austria's Credit Rating at Risk
The reasons for such gloomy prospects are not problems with the banks or domestic companies, but rather the demographic situation threaten Austria's credit rating.
November 11, 2010
Strabag: Major Contract in Romania for 220 Million Euro
A consortium led by Austria's Strabag has won a contract to build a Romanian motorway for 220.6 million euro.
November 11, 2010
Frauenthal Announces Results for Third Quarter of 2010
The process of consolidation at the Frauenthal Group continued according to schedule in the third quarter: revenues increased by 17.8%.
November 11, 2010
Vienna International Airport: Strong Increase in Passengers
Vienna International Airport: Plus 11.4% in passengers during October 2010. Forecast for 2010: +9.0 % in passengers.
November 11, 2010
Palfinger: Upward Trend in the First Three Quarters 2010
Market recovery and savings measures allowed for above-average increase in earnings. Revenue grew by 19.9 percent to € 464.9m
November 11, 2010
Erste Group: CEE Companies More Efficient than Western Counterparts
CEE companies are more efficient, more profitable and less indebted as Western companies. The German corporate sector is the only sector to compete with CEE companies.
November 10, 2010
Leitl: Austrians Go into Retirement Too Early
Those who go into early retirement in Austria are rewarded. The government should create more incentives to retire later on in life.
November 10, 2010
Sharp decline in Creation of New Foundations
In particular, legal uncertainty and abolished tax advantages cause the creation of fewer foundations in Austria.
November 10, 2010
UniCredit CEO Ghizzoni: Counting on eastern growth
The eastern business should be expanded, says Ghizzoni, CEO of the parent company of Bank Austria.
November 10, 2010
Construction Costs: Continuous Upward Trend
Just as previously, construction prices continue rising in Austria. There is no end in sight for the upwards trend.
November 10, 2010
Bank Austria: Results for the First Nine Months of 2010
Bank Austria experienced a significant drop in profits as well as operating results. However, the third quarter of 2010 showed an outstanding performance.
November 10, 2010
Results of Telekom Austria Group for the First Nine Months
Group revenues declined by 3.9% to € 3,480.1m, operating income increased dramatically.
November 10, 2010
Strong Growth of Austria's Export Figures
Growth in exports was 15.3% in the first eight months of 2010, mainly to emerging markets.
November 10, 2010
OMV Announces Results of January – September 2010
Austria´s biggest company posts a strong operating performance compared to previous year.
November 10, 2010
Intercell AG: Losses Doubled, Positive Outlook
Today, Vienna-based Intercell AG announced its financial results for the third quarter of 2010 and presented changes to the Management Board.
November 9, 2010
OeKB: Further Expansion in CEE Region
According to the OeKB (Oesterreichische Kontrollbank), the business climate index in Central and Eastern Europe (CEE) showed an improvement in recent months.
November 9, 2010
Fast Growth in Temporary Employment
The demand for temporary workers has increased strongly on the Austrian labor market strong, reaching almost the level before the economic crisis.
November 9, 2010
Vienna Insurance Group: Robust Rise in Earnings and Profits
Vienna Insurance Group experienced a rise in profits by 10,9 percent. Premiums increased by 7,1 percent to € 6.5 bn.
November 9, 2010
Austerity Package: Resistance from the Federal Provinces
While cries for savings are getting louder in the provinces, declarations of both consensus and objections come from the provincial capital cities
November 8, 2010
Metal Workers: Up to 3% Wage Increase
Workers in the metal industry receive a strong wage increase. The minimum wage rises by 2.5%.
November 8, 2010
Raiffeisen CEO Stepic: CEE Continues Being Europe’s Growth Driver
The boss of Raiffeisen Bank International Bank (RBI), Herbert Stepic, sees the CEE region continuing as long-term growth driver for Europe.
November 8, 2010
Umweltdachverband: Electricity Industry Power Plant List is Utopian!
Energy projects are unrealistic, alternatives have been ignored and the environment is neglected completely, according to the accusations.
November 8, 2010
Bank Boss Confirms: Bank Tax will be Passed on to Customers
Massive criticism of the federal government is also coming now from the boss of Raiffeisen Zentralbank (RZB). Bank customers will have to bear both the bank tax and the securities tax.
November 8, 2010
Andritz: Favorable Development in the First Three Quarters
Technology Group ANDRITZ showed a favorable business development in the first three quarters of 2010. Sales, earnings and profitability rose substantially.
November 8, 2010
Bank Tax: Constitutional Concerns
Banks are to contribute a fixed tax amount based on the values given for 2010 for three years. Constitutional jurists consider this modus operandi as "highly questionable".
November 8, 2010
Union: Call After 40 weeks of Work per Year
The Union of Salaried Employees (GPA) presents a new working model.
November 5, 2010
Vienna: Negotiations Between the SPÖ and the Greens Almost Concluded
The last major points are budget issues. Both sides are however optimistic of reaching an agreement.
November 5, 2010
Energy Industry: Tough Start for Expansion
The domestic energy industry has numerous plans to expand capacity. However, political will is containing them.
November 5, 2010
Trichet Succession: The Austrian Nowotny Has Chances As Outsider
The European Central Bank (ECB) will appoint a new president in November 2011. The favorites are the German Axel Weber and the Italian Mario Draghi. But Nowotny has outsider chances.
November 5, 2010
Industry: Recovery Dynamics are Leveling Off
IV’s (Federation of Austrian Industries) economic barometer shows minor increases; there is a gradual return to normal capacity. Only a small momentum is to be expected in employment and earnings growth.
November 4, 2010
AUA: Massive Criticism of Government
Owing to the flight ticket tax one feels lied to by the politicians. Contrary to promises, there is no support for restructuring. Not even Vienna Airport is immune from criticism.
November 4, 2010
Unexpected Rise in Research Expenditure
Against the general trend, Austria's economy is increasingly investing in research and know-how.
November 4, 2010
Working Time Flexibility Prevented Mass Unemployment
During the crisis, many German and Austrian companies flexibilized the working hours of their employees. These measures helped to ease the labor market situation.
November 4, 2010
AUA: Deficits Must Go
Austrian Airlines, bought in 2009 by German Lufthansa, are now working with profit at operational level. But restructuring of long haul routes is proving to be particularly difficult.
November 3, 2010
Real Estate Sales: Tax Evasion is Probably Tilted
So far, the property transfer tax has been avoided by a relatively simple construct. The Finance Senate wants to close this legal gap now.
November 3, 2010
Protectionism in Favor of Casinos Austria and Novomatic?
The licenses for lotteries and casinos after 2011 are already reserved for Novomatic and Casinos Austria, is the allegation.
November 3, 2010
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