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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
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
Higher Dividends at Telekom Austria
Telekom Austria Group Updates its Cash Use Policy and Provides Financial Outlook at its Capital Market Day.
December 20, 2010
WIFO: Economic boom persists, but also risks
The export-driven boom of the Austrian economy continues. Growth will however slow down in the first half of 2011.
December 20, 2010
JoWood is Deep in the Red
The Vienna game developer has to accept a loss of over € 25m in the first three quarters. Sales have fallen sharply.
December 17, 2010
French SNCF Participates in Westbahn Project
The French National Railways acquire a stake of 25% in the Haselsteiner project.
December 17, 2010
Austrian Economic Chamber focuses Growth Market China
Minister of Economy Mitterlehner presented together with the President of the Economic Camber, Leitl, strategies for the export market China.
December 17, 2010
FMA: Solid Performance of Austrian Pension Funds
The Financial Market Authority (FMA) publishes a report on the Austrian pension funds. The performance is diverse. .
December 17, 2010
Allegations of Market Abuse Against ÖBB
The Austrian Federal Railways are facing another accusation by the Federal Competition Authority. Rail Cargo is said to have abused its market power.
December 17, 2010
Austria's Tax Revenues are Higher than Expected
As the economy developed relatively well this year relatively, tax revenues increased. The deficit for 2010 might therefore turn out to be lower than planned.
December 17, 2010
Beko: Sales Drop by 15%
The Austrian IT company Beko Holding AG has to accept sensitive decreases in sales and profits.
December 16, 2010
Controversies About S&T Personnel
The chairman of the Vienna-based IT services provider, Thomas Streimelweger sues the supervisory board because of his dismissal, which he allegedly offered.
December 16, 2010
Accusations Against Sanader Grow Stronger
Many clues point to improper activities by former Croatian Prime Minister Ivo Sanader in connection with the Hypo Group.
December 16, 2010
Inflation falls to 1.9% in November
According to calculations by Statistik Austria, the inflation rate for November 2010 was 1.9% after 2.1% in October. Price drivers are energy and housing.
December 16, 2010
Decline in sales at Siemens Austria
Sales have dropped by 20% but the profit situation is stable. Orders have improved by 14%.
December 16, 2010
Bank Austria´s Economic Analysis: 2% Growth in 2011
The analysis of the Austrian economy forecasts a strong recovery. Improvements in the labour market will continue, but the positive trend weakens.
December 16, 2010
WKÖ: EU patent to stimulate Austrian innovation
The Austrian Economic Chamber (WKÖ) welcomes the enhanced cooperation for the EU-wide patent and hopes to obtain benefits for the domestic economy.
December 16, 2010
EVN Reports Growing Results
The energy provider from Lower Austria could raise its EBIT by 6.9%. EBITDA grew by 11.6%. Revenues remained stable.
December 16, 2010
Changes on the Management Board of Vienna International Airport
After several weeks of controversial discussions, the Supervisory Board announced Christoph Herbst as new CEO. He will succeed Herbert Kaufmann.
December 16, 2010
More Employees in Austria, Purchasing Power and Taxes Remain High.
Austria records an employment increase of 1.2%. Purchasing power and taxes are above the international average.
December 15, 2010
Allianz: Austria's Economic Production has Reached Pre-crisis Level in 2011
Strong exports and government stimulus programs enabled growth. Despite public savings constraint, Allianz expects further upward trends.
December 15, 2010
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