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Read the latest headlines about developments in international organizations, companies and institutions operating in Vienna, Austria
Vienna International Company News
Soros University Leaves Budapest in Favor of Vienna
In Hungary, the Central European University (CEU) has faced massive hostility. As a consequence, the location will be relocated to Vienna. Michael Ignatieff, the rector of CEU, announced this week in Budapest that the university is finally moving: "This is a dark day for freedom in Hungary, and it's a dark day for academic freedom." In Vienna, negotiations are still underway on a suitable building for interim use from 2019. By 2023, the university is to move permanently to the grounds of the Otto Wagner Hospital.
December 6, 2018
Bratislava - Vienna Railway Line Extended
The two EU capitals Vienna and Bratislava are approaching each other. After a construction period of about two years, representatives of Austrian Federal Railways (ÖBB), the EU, the City of Vienna and the Province of Lower Austria opened the first part, the so-called "Vienna section" of the Vienna - Bratislava line extension. The completion of the second part, the so-called "Lower Austrian Section", will last until 2023. The journey time from the main railway station in Vienna (Hauptbahnhof-Wien) to the main railway station in Bratislava (Bratislava hlavná stanica) will be reduced from 66 minutes to 40 minutes.
December 5, 2018
What Does Austria Have to Do with the Silk Road Project?
The Chinese "One Belt One Road Initiative", also known as the New Silk Road, is China's strategic measure of the century to make the entire Euro-Asian region including Africa even more dependent on its products and investments. Now the Austrian Federal Railways (ÖBB), the Vienna Chamber of Commerce and the ambassadors from China and Kazakhstan have joined forces to convince the Austrian population and politicians that the connection of Austria via broad-gauge railway to the Silk Road is an opportunity of the century.
November 30, 2018
What Brexit Means for Austrian Federal Provinces
The economic links between the Austrian provinces and the United Kingdom show that the withdrawal will not only be disadvantageous for the UK, but will also leave its mark on Austria's economy. According to a chart of the Thinktank Agenda Austria, the Austrian federal states whose exports will be hardest hit by the UK's departure are Upper Austria and Styria.
November 29, 2018
Reinsurer VIG Re to Expand to Paris
After opening an office in Frankfurt a year ago, another West European representative office is now to follow in Paris. The new branch will be headed by Patrick Chevrel. As part of the Vienna Insurance Group, VIG Re has been founded in 2008 by being established as a core player in the reinsurance market in Austria and CEE, and now also in certain West European countries.
November 26, 2018
First BMW Z4 'Made in Austria' Has just Rolled off the Production Line
The new BMW Z4 has been rolling off Magna Steyr's production line for a few days now. The sporty roadster is produced exclusively in Austria for the entire world market. The BMW Z4 is - besides the BMW 5 Series - already the second BMW car that is currently produced in Austria. This emphasizes and strengthens the BMW Group's commitment to Austria as a business location.
November 22, 2018
The New Location Development Act - Significance for Austria's Attractiveness as a Business Location
The Austrian government has passed the highly controversial Location Development Act in the Council of Ministers, which will speed up environmental impact assessments, be passed by the National Council this year and come into force on 1 January 2019. The new legislation will introduce automatic permits for certain energy infrastructure projects (eg, electricity grids and power plants). Positive reactions are coming from industry and politics. Various environmental associations criticise the new law.
November 22, 2018
Expat Survey: Vienna for Expats Highly Attractive and Newcomer-Friendly
A study commissioned by the City of Vienna confirms that four out of five international professionals and executives who came to Vienna had a good or very good start. 93.9 percent confirm the city's high international attractiveness, 89.3 percent would recommend Vienna as an expat destination.
November 22, 2018
Austria Strengthening Venture Capital Structures with Seoul and Shanghai
Margarete Schramböck, Austrian Federal Minister for Digitisation and Business, visited Seoul, the capital of South Korea and China's greater Shanghai metropolitan area, together with a high-ranking delegation of experts from the fields of digitisation, science and business, with the aim of strengthening Austria as a location for innovation.
November 9, 2018
Austrian National Bank Seeking Successors for Top Jobs
The Board of Governors of the OeNB Austrian National Bank has published a recruitment announcement for the new central bank governor, vice governor and two members of the Management Committee. Applications can be submitted until 5 December, according to the official gazette of the "Wiener Zeitung".
November 5, 2018
RBI Subsidiary Raiffeisen Bank Polska Completes Sale
The sale of the core banking business of RBI subsidiary Raiffeisen Bank Polska to BGZ BNP has been completed, according to a statement. The regulatory approvals for the transaction agreed in April have now been obtained. The direct impact of the sale on RBI Group’s consolidated profit is expected to amount to minus EUR 121 million,
November 3, 2018
Austria Continues to Deteriorate in World Bank's Ease of Doing Business Index 2019
The Ease of Doing Business Rankings provide measures of business regulations for local firms in 190 economies and selected cities at the subnational level. In 2019 Austria falls from 22nd to 26th place worldwide. Germany also loses ground, but remains one notch ahead of Austria. New Zealand leads the ranking for the third time in a row. The Kiwis replaced Singapore three years ago, which had previously held the top position for 10 years. In the 2019 Ease of doing business index, the following countries rank 3rd to 10th: Denmark, Hong Kong, South Korea, Georgia, Norway, United States, United Kingdom and Macedonia.
November 1, 2018
Japan's Largest Airline ANA Expands Service Between Tokyo and Vienna
The Japanese ANA - All Nippon Airways relies on Vienna as its European hub for business flights to Germany, Switzerland, Italy and Poland and is expanding its range of services as a result of the facilitation provided by the Japan-EU Economic Partnership Agreement (EPA).
October 31, 2018
Growth of Foreign Controlled Enterprises in Austria
Statistics Austria reports a slight increase in the number of foreign-controlled companies in Austria. As at 31.12.2016 there were around 10,800 companies in Austria that are part of a foreign group. In comparison, the number of foreign subsidiaries of Austrian companies remained constant.
October 31, 2018
Eurasian Economic Union vs. European Union - Perspectives and Limits
At Lansky, Ganzger + Partner, at the meeting room of the Austrian-Kazakh Society (ÖKG - Österreichisch-Kasachische Gesellschaft), a number of prominent participants met for a panel discussion to explore the relationship between the Eurasian Economic Union (EAEU, EEU), to which Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia belong, and the European Union (EU) entitled "The Eurasian Economic Union and the EU - Perspectives and Limits of a Partnership". The conference was hosted by the Research Centre for Eurasian Studies (EURAS), the Austrian-Kazakh Society (ÖKG - Österreichisch-Kasachische Gesellschaft) and the Austrian-Belarusian Society (ÖWG - Österreichisch-Weißrussische Gesellschaft).
October 30, 2018
Tunisian-Austrian Business Relations about to be Expanded
The Austro-Arab Chamber of Commerce (AACC) and the Embassy of the Republic of Tunisia in Austria are organizing a networking event under the general theme "Economic Forum on Tunisia". Representatives of companies and institutions from Tunisia, Austria and other Arab countries are expected on 20 November at the SO/Vienna (former "Sofitel Vienna Stephansdom").
October 30, 2018
Swiss Pharmaceutical Group Invests 142 Million Euros in its Viennese Research Facilities
The international pharmaceutical group Octapharma is expanding its R&D location in Vienna. After two and a half years of construction, the company celebrated the opening of a new research and development center. Together with two other major investments up to 2021, the total investment sum for all three projects will amount to 142 million euros. Since the beginning of 2017, 170 new jobs have been created. By 2026, the company plans to employ a further 300 people.
October 25, 2018
Austrian Airlines - More Women in the Cockpit and Daily Flights to Tokyo
Become one of the few female pilots at Austrian Airlines. A total of 100 fully-trained pilots are currently being sought. As part of its expansion, Lufthansa's subsidiary intends to significantly increase the proportion of women pilots. The airline is also expanding its services to Tokyo, namely six weekly flights from March 2019 and daily flights during the 2019 summer timetable.
October 25, 2018
Canada: New Daily Flight Connection from 2019
From 29 April 2019, Austrian Airlines will be flying daily to Montreal, the second-most populous municipality in Canada. Air Canada will assume flights on the Vienna-Toronto route.
October 22, 2018
Ambassador Traina on Trade-War: "Donald Trump is Europe's Greatest Hope"
In an interview with the trend-magazine the US ambassador in Vienna, Trevor Traina, warns of the Chinese, and that the theft of intellectual property could also happen to Europe's key industries. Donald Trump's unpredictability is therefore "Europe's greatest hope" to avert such a scenario in time.
October 19, 2018
Facilitated Stock Exchange Access for Small and Medium-Sized Enterprises at the VSE
As a result of an amendment to the Austrian Stock Corporation Act (Aktiengesetz), as of 21 January 2019 it will again be possible for small and medium-sized enterprises and growth companies registered in Austria in the legal form of a stock corporation (AG) with small free float to gain access to the Vienna Stock Exchange via the newly created market segments "direct market plus" and "direct market".
October 19, 2018
Kurz Met Bill Gates: "He is a Source of Inspiration"
Federal Chancellor Sebastian Kurz met billionaire and Microsoft founder Bill Gates at the EU summit in Brussels. Gates was in Brussels this week to create a pilot fund that will invest €100 million in European companies working to stop climate change.
October 19, 2018
IAEA Laboratories in Seibersdorf - A Hub of Scientific Excellence
The laboratories of the International Atomic Energy Agency (IAEA) are located in the town of Seibersdorf, where scientists carry out unique work in support of global peace and development. Located 35 kilometres south of Vienna, the 10 laboratories play an important role in the IAEA’s activities in the areas of nuclear verification, food and agriculture, human health, industrial applications and the environment. Recently Austrian President Van der Bellen paid a visit to Seibersdorf.
October 16, 2018
International Day of the Girl: Austria Center Vienna Illuminated in Pink
The Austria Center Vienna and the Austrian Presidency of the Council sent a signal on the International Day of the Girl and illuminated the Austria Center Vienna (ACV) pink in the evening. At the same time, inside the Center with the conference "Gender Equality and YOU. Young Voices. Joint Initiative" and the informal meeting of the EU Ministers for Gender Equality, important gender equality events took place within the framework of the EU Council Presidency.
October 12, 2018 · Sponsored Content
Agressive Southern Chinese Airline Launches Shenzhen-Vienna Service
The South Chinese carrier Hainan Airlines is pushing ahead with its expansion into Europe by adding Vienna - Shenzhen as the next non-stop route after Zurich at the end of August. The new twice-weekly flights will take off on October 20th, connecting Vienna with Shenzhen on Thursdays and Saturdays using the airline's Boeing 787 Dreamliner aircraft (see picture).
October 12, 2018
Outlook - Chinese Tourists and the Destination Austria
With around 900,000 arrivals (+23%) and 1.3 million overnight stays (+25%) in 2017, China is Austria's most important Asian market of origin with the greatest growth potential. From January to July 2018, Austria also recorded record figures with around 542,000 arrivals (+ 8.2) and around 781,000 overnight stays (+ 11.5 %) from China.
October 3, 2018 · Updated: October 11, 2018; 22:55
Danube Region Business Forum - Infrastructure and Its Implications on Business in CEE and SEE
The Danube Region is one of the traditionally important markets for Central European regions and companies. However, the infrastructure of this region does not yet meet the requirements of the economy. The 8th Danube Region Business Forum will take place on 9 October 2018 at the Austrian Federal Economic Chamber in Vienna. The aim of the forum is to ensure that the infrastructural quality and cooperations in the region meet the requirements of the economy.
October 3, 2018
Austro-Arab Energy Community Meets in Vienna to Discuss International Cooperation
The 10th Arab-Austrian Economic Forum & Exhibition took place in Vienna yesterday, organized by the AACC Austro-Arab Chamber of Commerce in cooperation with the City of Vienna and the Regional Center for Renewable Energy and Energy Efficiency (RECREEE). Under the general theme "Energy Transition - Urban Technology and Sustainable Cities", New Opportunities for International Cooperation and Partnerships, representatives from EU institutions, international organizations, funds, European and international financial institutions as well as ministers and high-ranking personalities from the Arab economy met representatives of the local economy, politics and business community. Participants included Nabil R. Kuzbari, Richard Schenz, Michael Ludwig, Omar Al-Rawi, Mahdi Allak, Johannes Peterlik, Samir Koubaa, Michael Esterl and Li Yong.
October 2, 2018
ACV Austria Center Vienna: More than 100,000 International Participants for the First Time
Last year, Austria’s largest congress centre brought more than 100,000 international participants to Vienna for the first time. The venue also once again exceeded the record revenue figure from the previous year.
September 26, 2018 · Sponsored Content
Alexander Labak Leaves: Casinos-Austria Seeking New CEO
At yesterday's meeting of the Casinos Austria Supervisory Board, the Management Board presented plans for modernising and strengthening the casino business in Austria and internationally. However, a bang came from CEO Alexander Labak, who will leave the company at the end of 2019.
September 26, 2018
Expansion of Nepal-Austria Relations Beyond Mountaineering
Nepal's Foreign Minister Pradeep Kumar Gyawali paid a working visit to Austria. The visit focused on bilateral relations and the opening of the embassy in November last year.
September 19, 2018
IAEA Member States Discuss Peaceful Use of Nuclear Technologies
Representatives from the IAEA’s Member States, including at ministerial level and above, are convening at the 62nd IAEA General Conference in Vienna this week to discuss key elements of the Agency’s priorities in its work on the peaceful use of nuclear technologies.
September 18, 2018
Port of Vienna as International Trimodal Logistics Hub for Water, Rail and Road
Peter Hanke, City Councillor for Economic Affairs, together with Doris Rechberg-Missbichler, Managing Director of Wien Holding, and Fritz Lehr and Doris Pulker-Rohrhofer, Managing Directors of the Port of Vienna, presented the balance sheet of the Port of Vienna for the year 2017. Turnover amounts to 58.1 million euros (+2.3%), earnings before taxes 14.8 million euros (+16.5%).
September 14, 2018
Bodyguard - The Musical at the Ronacher in Vienna
On 27 September 2018, the Austrian premiere of the successful international production "Bodyguard" will take place in Vienna's Ronacher, based on one of the greatest blockbusters of all time. Bodyguard replaces the cult musical "Dance of the Vampires", which recently celebrated its acclaimed Dernière.
September 14, 2018
Cooperation with the Indian Film Industry: Bollywood in Austria
Indian production companies visit potential film locations in Austria for future films. With the aim of exploring Austria as a backdrop for future Bollywood films, six producers from India's most renowned production houses will be visiting Austria from 9 to 15 September 2018.
September 7, 2018
British-Indian-Austrian Anadi Bank Remains on Growth Course
The former Austrian branches of Hypo Alpe-Adria-Bank International were bought by Indian Investor Sanjeev Kanoria and transferred to British-Indian-Austrian Anadi Bank in 2013. The bank continues its successful growth course in the first half of 2018, although the result from ordinary business activities declined by 37% and profit after tax by 42% compared to the same period of the previous year. The bank describes itself as a bank with the strengths of a tiger. The Anadi Tiger establishes, on the one hand, a symbolic connection to India, on the other hand, he embodies strength, speed, security and flexibility - qualities that the bank expects from itself. Also, Anadi means “eternal” in Hindi and stands for tradition, reliability, and sustainability.
September 7, 2018
Textile Manufacturer Wolford Leaves Vienna Prime Market
The textile group Wolford, listed on the Vienna Stock Exchange, is moving from the Prime Market to the Standard Market.
September 6, 2018
Marcus Grausam Confirmed as CEO of A1 Telekom Austria AG
Marcus Grausam has been confirmed as CEO of A1 Telekom Austria AG, a subsidiary of A1 Telekom Austria Group. He was appointed interim CEO in October 2017. Grausam will also continue to perform his function as CTO.
September 4, 2018
Bosch Austria Boosts Sales by 8% and Invests €120 Million in R&D
During the 2017 fiscal year, Bosch increased its sales on the Austrian market by around eight percent to 1.25 billion euros. "We have achieved record sales. All business sectors contributed to the positive development," said Dr. Klaus Peter Fouquet, sole board member of Robert Bosch AG and representative of the Bosch Group in Austria.
June 14, 2018
UNIDO: Achieving Sustainable Development Goals through Chemical Leasing
In 2004, with the support of the Government of Austria, UNIDO launched its Global Chemical Leasing Programme, promoting a business model that marks a paradigm shift from increasing the sales volume of chemicals toward a value-added approach. The fourth Global Chemical Leasing award ceremony will take place on 6 November 2018 in Vienna, Austria. It will be part of the Green Chemistry Conference 2018 within the Trio Presidency of the Council of the European Union (EU) programme, "Smart and Sustainable Europe", held during Austria's EU Presidency.
June 8, 2018
Vienna Energy Forum and the R20 Austrian World Summit 2018: Feedback of a Participant
At the Vienna Energy Forum and the R20 Austrian World Summit recently held in Vienna, Beatriz Mayor of IIASA - International Institute for Applied Systems Analysis also participated, who shares her interesting insights as follows.
June 6, 2018
OMV Celebrates 50 Years of Lucrative Natural Gas Business
On 1 June 1968, a historic gas supply contract was signed in Vienna, establishing Austria’s role as a key country in Europe’s natural gas network. The 50-year collaboration with Russia is a win-win situation. Then, as now, natural gas plays a key role in OMV's portfolio, as European demand will continue to increase over the next decades. OMV is Gazprom’s main partner in Austria. The companies cooperate in gas production, transportation and supplies.
June 6, 2018
Putin's Austria Visit: Extension of Gazprom Gas Supply Contract until 2040
OMV has formally confirmed the extension of the gas supply contract with Russia's Gazprom on the occasion of the visit of Russian President Vladimir Putin to Austria by the two CEOs Alexey Miller and Rainer Seele.
June 6, 2018
Vladimir Putin on PR Campaign in Austria
Vladimir Putin is on his sixth official state visit to Austria. Officially, on the occasion of the 50th anniversary of the gas supply contract between Austria and Russia, this is a working visit to President Van der Bellen and Chancellor Kurz. In fact, a new gas supply contract between Gazprom and OMV is the main reason for the visit. Other gas deals are still in the negotiation phase, namely the Gazprom Urengoy gas field asset swap and the Nordstream 2 pipeline project. The Central European Gas Hub in Baumgarten/Lower Austria, an important gas distribution hub from the Russian perspective, could also be on the agenda.
June 5, 2018
Infineon Invests 1.6 Billion Euros in New Chip Factory in Austria
German semiconductor manufacturer Infineon is investing in Carinthia in the largest chip factory in Europe. 1.6 billion euros will be invested in the construction of a new semiconductor factory at the Villach site.
May 30, 2018
Flight Connection Kuwait-Vienna Carries Arab-Israeli Conflict to Austria
State-owned Kuwait Airways, which will resume operations between Kuwait and Vienna in early June for the summer months, does not carry Israeli citizens. The official reason is a Kuwaiti law from 1964, which bans all companies of the 3.5 million inhabitant oil state from doing business with Israelis.
May 29, 2018
Sonja Sarközi Appointed New CEO of Sberbank Europe
Sonja Sarközi, currently Chief Retail Banking Officer of Sberbank Europe, has been appointed as new CEO by the supervisory board. She will succeed Gerhard Randa as of 1 July 2018.
May 29, 2018
Meet OPEC's Secretary General Mohammad Sanusi Barkindo
HE Mr. Mohammed Sanusi Barkindo is the current Secretary General of OPEC. He recently received a prestigious Energy Award for Lifetime Achievement for helping to stabilize the oil price again. He also gave an insight into how OPEC has regained its former strength under his guidance.
May 28, 2018
Austrian Airlines Celebrates 60th Birthday
Austrian Airlines Österreichische Luftverkehrs Aktiengesellschaft was founded on 31 March 1958. This week, 2,500 guests celebrated the 60th birthday of the red-white-red airline in the hangar at Vienna Schwechat Airport.
May 25, 2018
Car Dealer Denzel Increases Group Turnover by Twelve Percent
Vienna-based car importer and dealer Denzel sold around 45,000 vehicles in the past fiscal year and increased group sales by 12 percent to over 830 million euros.
May 17, 2018
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