Vienna International Business News | Economic | Investment | Financial - Vindobona.org

European Commission Approves Austrian Aid for Railroad Companies

The European Commission has granted Austria its planned subsidies for railroad companies to promote the shift from road transportation to rail road usage. Austria will increase its public aid to, on the one hand, relieve railroad companies of some financial burdens of the last months and to, on the other hand, continue the promotion of railroad rather than road transportation.

November 26, 2020

Selmayr: Member States Need To Decide on Skiing at Christmas

The recent debate about skiing during the Christmas holidays will need to be regulated on a national level, according to the Head of the Representation of the European Commission in Austria, Martin Selmayr. Selmayr states that the EU has neither the obligation nor the expertise to impose any EU wide rules in this matter.

November 25, 2020

Edtstadler: "No Understanding" for EU Budget Veto of Poland and Hungary

Hungary and Poland refused to agree on the EU's financial framework for the next seven years. Austria's Minister Edtstadler as well as her German counterparts do not understand Hungary's and Poland's veto and demand a clear resolution of any blockades that delay the distribution of important Covid-19 aid measures.

November 24, 2020

WKO: Thoughts About Opening Stores on Sundays

The President of the Austrian Federal Chamber of Commerce (WKO) has expressed his thoughts about a possible opening of stores on Sundays before Christmas. This would create the opportunity for companies to equalize customer flows which they have missed out on during the ongoing lockdown.

November 24, 2020

First Austrian Swedish Innovation Exchange Day

The Austrian and Swedish government have decided to hold their first ever Austrian Swedish Innovation Exchange Day, which will try to kick-off a lasting bilateral relationship with regard to innovation, business and industry. The event will be attended by Austrian and Swedish politicians as well as representatives of the economic sector.

November 23, 2020

European Commission Approves Second Fixed Cost Subsidy

The European Commission has approved Austria's request to grant further subsidies to companies particularly impacted by the ongoing pandemic. The so-called Fixed Cost Subsidy II could cover up to 70 percent of the uncovered fixed costs and up to EUR 3 million.

November 23, 2020

Increase in Funding for Carinthian Slovenes

In the year of the 100th anniversary of the Carinthian referendum, the National Council has decided to contribute another EUR 4 million to the support of the Slovenian ethnic group in Carinthia. Chancellery Minister Raab sees this "a clear signal of appreciation" for ethnic groups in Austria.

November 20, 2020

October: Minus 84.5 Percent Overnight Stays in Vienna

The Covid-19 crisis has hit the hotel and tourism industry hard. Especially urban areas are affected which is also the reason for the drastic numbers of overnight stays in Vienna. Compared to 2019, the city recorded a minus of 84.5 percent in the month of October.

November 20, 2020

Austrian Government Plans Deficit of EUR 22.6 Billion

Due to the ongoing Covid-19 pandemic and the resulting economic crisis, the Austrian government has agreed on a budget that plans with a deficit of EUR 22.6 billion for next year. Estimated lower revenues due to the weak economy on the one side face higher expenditures because of the subsidies for various businesses on the other.

November 20, 2020

International Mobility Days 2020 Held Virtually

The International Mobility Days of the Austrian Federal Chamber of Commerce are held virtually. The mobility industry is one of the fastest evolving industries and the future of transportation, especially in growing cities, is a topic that has been dominating international entrepreneurial acton for years.

November 19, 2020

Virtual Meeting Between Czech Republic, Slovakia and Austria

The Czech and Slovak Foreign Ministers met with Austria's European Affiars Minister to discuss cooperation during the Covid-19 pandemic and the joint fight against terrorism. Other topics on the agenda were the EU's migration policy, the current budget negotiations and the conference on the future of Europe.

November 16, 2020

WKO Heads: "Lockdown Hits Companies With Full Force"

The new lockdown will once again shut down Austria's economy in its entirety. The heads of the Austria Federal Chamber of Commerce (WKO) emphasize the importance of financial support for companies by the government and of a well functioning education for children despite school closings.

November 16, 2020

Austria Faces Hard Lockdown

Due to rapidly rising Covid-19 infection rates in Austria, the government will most likely implement a hard lockdown starting at the beginning of next week. The new restrictions might include the closing of schools and kindergartens as well as shutting down all stores that are not providing goods to cover basic needs.

November 13, 2020

Austrian School Receives VET Innovators Award

The Higher College for Engineering Wolfsberg (HTL Wolfsberg) wins the prize as "entrepreneurial school" in the category VET Innovators Awards during the European Week of Vocational Training. The school has impressed with its sustainable business collaborations and its successes in innovation competitions.

November 13, 2020

Rail Traffic Between Vienna and Salzburg Can Be Maintained

Similar to measures taken in the spring of this year, the Ministry for Climate Protection has set up an emergency contract with the ÖBB and WESTbahn to safeguard rail transport between Vienna and Salzburg. The mutual acceptance of tickets from WESTbahn and ÖBB will also be established again.

November 13, 2020

Ambassador Turner Met Governor of Carinthia

British Ambassador to Austria met Carinthia's Governor Kaiser to discuss the current Covid-19 situation in Austria and also the Brexit negotiations that are in the decisive stage. Turner hopes that the registration of British citizens following the Brexit will be easy and unbureaucratic.

November 12, 2020

Central Five Held Virtual Conference

The Foreign Ministers of Slovenia, Slovakia, Hungary, the Czech Republic and Austria (Central Five) held a virtual working meeting. On the agenda of the meeting were current foreign relation issues, but especially the ongoing fight against the Covid-19 pandemic and the recent terror attack in Vienna.

November 12, 2020

European Commission Launches Initiatives Against Gender Pay Gap

With regards to the European Day of Equal pay, the day from which women will symbolically no longer be paid for the same work compared to their male colleagues until the end of the year, the European Commission has launched initiatives to tackle the persistent gender pay gap.

November 12, 2020

Eurochambres President Demands Rapid Measures for Businesses

At the presentation of the 28th Eurochambres Economic Survey, President of the Association for European Chambers of Commerce Leitl demands "immediate help" for businesses affected by the Covid-19 pandemic. According to him, the survey results show sharp declines in many economic indicators.

November 11, 2020

Austrian Economic Mission to Dubai, Abu Dhabi and Bahrain

The Austrian Federal Economic Chamber is organizing an open-industry economic mission to the United Arab Emirates and Bahrain. The program includes networking with local business leaders and multipliers, preparations for the postponed Expo 2020 in 2021 and the opening of new business opportunities.

November 10, 2020

European Vocational Skills Week: Focus on Green and Digital Transition

The European Vocational Skills Week focuses on vocational education and training for environmental and digital change. Numerous online events from 38 countries can be attended to further knowledge and careers. Especially in times of economic and social hardship, obtaining new skills might provide decent recovery.

November 10, 2020

US Election: Schallenberg Looks Forward to Continuing Partnership With US

After the US Election, Austria's Foreign Minister Schallenberg wants to continue the good cooperation with the new administration but also emphasizes the importance of having a strong European community that does not need to rely on the US or any other partners.

November 9, 2020

Vienna Is the Sixth Largest City in the European Union

After London pulled out and Bucharest moved up, Vienna has consolidated itself in sixth place among the largest cities in the European Union. But who is the new European leader, and who are the other cities ahead of Vienna in the ranking? What are the reasons why living in Vienna is so popular with other Austrians, expats, migrants and refugees?

November 9, 2020

Turnover Compensation For Impacted Companies

The Austrian Ministry of Finance has issued another instrument to offset negative consequences of the second lockdown for the economy. Impacted businesses will be compensated for 80 percent of their turnover with an allegedly unbureaucratic and fast process that should help companies as uncomplicated as possible.

November 6, 2020

Second Coronavirus Lockdown: Which Rules Apply for your Business in Austria?

The exponential increase of the Austrian COVID-19 infection numbers has made drastic measures necessary. On November 3, 2020, the new COVID-19 Protection Measures Ordinance will come into force and remain in force until at least November 30, 2020. In order to cushion the economic impact, short-time working will be upgraded and loss of sales compensated. The new rules and economic measures for the gastronomy, tour operator, tourism and leisure industry can be found below.

November 2, 2020 · Updated: November 6, 2020; 10:13

EU Budget: Austrian Commissioner Hahn Welcomes New Agreement

For the first time ever, the disbursement of funds from the next EU budget will be directly connected to the rule of law of each member state. This was negotiated by representatives of the European Parliament and the Council; among them is Austria's EU Budget Commissioner Johannes Hahn.

November 5, 2020

Conference of Frugal Four and Finland Was Hosted by Austria

The Foreign Ministers of Denmark, Sweden, the Netherlands and Finland came to Vienna to meet with Austria's Minister for European Affiars Edtstadler. On the agenda was the issuance of a joint statement in which they Ministers condemn the recent terror attack in Vienna and other topics regarding the cooperation of the five countries.

November 5, 2020

Macron Was to Visit Austria, Now Only Virtual Meeting With Kurz

The French President Macron had planned to travel to Austria to meet with Sebastian Kurz. However, due to the Covid-19 measures in place, the two politicians will only meet virtually. After the recent terror attack in Vienna as well as in Nice, the topic of discussion will be the fight against Islamist terrorism. A common European approach is demanded and will also be discussed during the working meeting.

November 4, 2020

Opening of Vienna's Christmas Market is Postponed

Due to the new lockdown, the City of Vienna has postponed the opening of the Christmas market on the Rathausplatz in Vienna, the square in front of the Vienna City Hall. It is still unclear if the recent terror attacks on the Inner City will also affect the Christmas celebrations in Vienna.

November 3, 2020

Kurz: All of Europe in Middle of the Second Wave

At a video conference with all of the heads of state and government of the European Union, Chancellor Kurz and the other country heads discussed Covid-19 measures and a common approach of the EU. Since the second wave has already hit many of the member countries, better coordination than in the spring of this year is demanded by almost every country.

October 30, 2020

Áder Met Van der Bellen

The Hungarian President Áder visited his Austrian counterpart in Vienna to discuss the current fight against Covid-19. Although there would have been many other EU and bilateral topics to discuss, the prevailing matter is the rising infection numbers in Europe and the measures taken by the various governments.

October 30, 2020

Beligum Is Now Warning of Travel to All of Austria

The Belgian Foreign Ministry now warns of travel to all nine federal states of Austria. Carinthia and Styria complete the list of the federal states that are depicted in red, which is the highest Covid-19 warning level. Travellers from these areas need to self-quarantine for at least ten days.

October 29, 2020

Austrian Airlines Goes Into Hibernation

The worsening Covid-19 situation in Europe also affects Austrian Airlines and its success in the upcoming winter months. After a summer which was better than most forecasts had predicted, the current rise of Covid-19 cases means a reduction in demand for flights in the near future.

October 29, 2020

European Economic and Social Committee: Austrian Christa Schweng is New Head

The Austrian politician Christ Schweng is the new head of the European Economic and Social Committee (EESC). She is only the fifth woman to head the EU institution and will be in this position for the two and a half years. Her main goals for this period include to "make a decisive contribution to Europe's recovery and future resilience" with regard to the current crisis.

October 28, 2020

Italian Interior Minister Met Nehammer

Italian Interior Minister Lamorgese welcomed her Austrian counterpart Nehammer for a working meeting in Rome. The main discussion topics were the fight against organized crime and illegal trafficking as well as strengthening repatriation agreements with third countries.

October 27, 2020

Austrian Post Invests More Than EUR 100 Million in Turkish Subsidiary

Despite the critical tensions between the European Union and Turkey, the Austrian Post will be investing more than EUR 100 million in a Turkish subsidiary in the next five years. CEO Pölzl is confident that the separation of politics and the business aspect will be also possible in the future.

October 23, 2020

Van der Bellen at Viennale 2020: "We Need the Film"

The 58th Viennale is currently taking place despite Covid-19 and all the regulations that are in place. Federal President Van der Bellen and director of the festival, Eva Sangiorgi, both emphasize the importance of film even though the pandemic has impacted the industry dramatically.

October 23, 2020

Hahn: European Commission Is Entering Top League of Global Financial Markets

With the issuing of social bonds worth EUR 17 billion, the European Commission tries to safeguard jobs and prevent the economy from collapsing in its member countries. Commission President von der Leyen as well as Austrian EU Budget Commissioner Hahn are pleased by this important step.

October 22, 2020

Danger for Winter Tourism: Germany Warns Of Travel to Austria

After Germany had warned against travel to Vienna, Tyrol and Vorarlberg last week, rising Covid-19 infection rates in other parts of Austria have led to an expansion of the travel warnings to almost every federal state of Austria. These warning will be in effect on Saturday with no end in sight.

October 22, 2020

Austrian National Bank: Exports Increase Again

Exports, excluding tourism, were above the comparable figures from 2019 for the first time in Austria since the outbreak of the Covid-19 crisis. The Austrian National Bank is confident that a second wave can be contained and that no further monetary or fiscal policy measures are needed.

October 21, 2020

September: 75 Percent Fewer Overnight Stays in Vienna

Compared to September 2019, Vienna has recorded 75 percent less overnight stays this year. Due to Covid-19 and current travel regulations, the City of Vienna faces a drastic reduction in tourists which can be also observed when looking at the statistical measurements.

October 20, 2020

First Microsoft Cloud Data Center in Austria

Microsoft has announced the establishment of Austria's first ever data center region. Chancellor Kurz says that this "represents a decisive competitive advantage" and thanks Microsoft for the commitment to Austrian companies and their employees.

October 20, 2020

Austrian Railways: EUR 17.5 Billion of Investment Until 2026

The railway system in Austria will see impactful investments in the near future. Due to a package of around EUR 17.5 billion until 2026, the Federal Government together with Austrian Railways (ÖBB) will try to make travelling and transporting by rail even more attractive to customers.

October 20, 2020

EU Health Agency Classifies Austria as Red

After rising infection rates in Austria, the EU has issued the highest warning stage and switched the traffic light to red. Although there are no binding regulations or recommendations in connection with the traffic light, a decrease in travel is to be expected.

October 19, 2020

Investor Survey: Vienna Among Top 3 Locations for Real Estate Investments

Despite the Covid-19 crisis, Vienna is still one of the most attractive European metropolises for real estate investments. According to a recent survey among investors, London, Berlin and Vienna make up the Top 3 locations in which real estate is highly sought.

October 19, 2020

World Statistics Day 2020: New Economic Monitor Shows Austria's Economic Development

Statistics Austria has introduced a new economic monitor which shows Austria's economic development over time. Data is updated biweekly and will include more than 80 economic indicators across different sectors and industries. In addition to this monitor, Statistics Austria provides a Covid-19 data collection which focuses also on population, health and education.

October 19, 2020

EU Council: Kurz Demands Better Coordination of Restrictions

At the EU Council of the heads of state and government, Chancellor Kurz demands better coordination of travel restrictions, quarantine periods and testing with regard to Covid-19. Other topics on the agenda were the Brexit negotiations, foreign relations, and climate protection.

October 16, 2020

European Ministers Sign EU Cloud Declaration

At the Informal Council of EU Minister for Telecommunication and Digitalization the future of the EU with regard to security, exchange and use of data was discussed. Austrian Minister Schramböck is delighted about the progress made and the signing of the EU Cloud Declaration that should enable an even better exchange of data among member states.

October 15, 2020

Canadian Foreign Minister Visits Austria

The Canadian Foreign Minister Champagne visited Austria to conduct meetings with UN Organizations as well as with Chancellor Kurz and Foreign Minister Schallenberg. The topics on the agenda were the CETA agreement, the Covid-19 pandemic and current foreign trouble spots.

October 15, 2020

Border Controls with Slovenia and Hungary Will be Extended

The border controls between the Slovenian-Austrian and Hungarian-Austrian border will be extended once again. Austria's Interior Minister Nehammer cited as reasons the "continuing migration pressure, maintenance of internal security and the tense situation surrounding the Covid-19 pandemic".

October 14, 2020