Vienna International Company News

How International Direct Investment and Skilled Workers Influence the Austrian Economy

A new study deals with the question of the extent to which foreign companies and workers influence Austria's value creation. The results show a clear outcome. Read on if you want to learn more!

Yesterday

Austria's Economy Demands Help with Energy Crisis

Many companies in Austria are currently struggling with the high energy prices. Now the Austrian Federal Economic Chamber and the Federation of Austrian Industries are calling for political intervention to prevent company closures.

September 27, 2022

European Cooperation with Austria's Educational Institutions

During an Erasmus+ networking meeting, the new European digital hub "European School Education Platform" was presented at a gala event. Furthermore, the European Innovative Teaching Awards (EITA) were awarded to three Austrian schools.

September 25, 2022

Weekly Briefing: New Ambassadors in Vienna

The Find out more about this week's developments. In Vienna, several new ambassadors were accredited, who will represent their respective countries bilaterally as well as multilaterally at the OSCE and the international organizations in Vienna. Read about the latest developments in diplomacy in Vienna and Austria.

September 22, 2022

Global Wealth Report: Austrian Financial Wealth Increased

A new analysis of global wealth shows that private financial assets have increased internationally, but also in Austria. In this article you can find out how strongly Austria's economy has developed in recent years and how much the average Austrian has in his or her bank account.

September 21, 2022

Weekly Briefing: Bilateral Diplomacy in Vienna

The Find out more about this week's developments. Diplomacy is back from the summer break in Vienna. The bilateral relations in Vienna produced some meetings, demonstrating that diplomacy is always present in Vienna. Read about the latest developments in diplomacy in Vienna and Austria.

September 15, 2022

Lufthansa and OMV Cooperate Over Sustainable Aviation Fuel

OMV, the international integrated oil, gas and chemical company headquartered in Vienna, and Lufthansa Group are expanding a partnership on sustainable aviation fuels. Germany's Lufthansa plans to stock up on sustainable aviation fuel (SAF) from OMV in the future.

September 13, 2022

Austria's Best Wines Are Awarded

One of the most famous Austrian wine competitions has tested 275 wines this year. SALON as the competition is called has chosen 21 of them as winners. For the first time, the wines were tasted and evaluated according to their origin and not by grape variety.

September 12, 2022

Austrian Gas Storage Facilities Over 70 Percent Full

Austria's gas storage facilities are already more than 70 percent full. The contingency plans to secure gas supplies that were put into action as a result of the war in Ukraine and the ongoing energy crisis go according to plan as announced by Austria's government.

September 12, 2022

Weekly Briefing: Latest Developments in Diplomacy

The Find out more about this week's developments. Austrian policymakers are concerned with inflation and energy issues. Read about the latest developments in diplomacy in Vienna and Austria.

September 8, 2022

Austrian Government has Agreed on Electricity Price Brake

The Austrian federal government has agreed on the long-discussed "electricity price brake" to cushion the high cost of energy. According to information from the federal government, each household will pay a lower electricity price for that share of electricity consumption which corresponds to 80 percent of the average consumption of an Austrian household in the previous year.

September 7, 2022

IAEA Warns of Nuclear Accident at Ukraine's Zaporizhzhya Nuclear Power Plant

The IAEA is highly alarmed by conditions at the Russian-occupied Ukrainian nuclear power plant in Zaporizhzhya, where staff overload and central warning and alarm systems threaten human error that could trigger a nuclear accident. To secure Europe's largest nuclear power plant, immediate measures, including a safety zone around the plant, are to be introduced to prevent a disaster.

September 6, 2022

Austria Wants Covid Vaccine Contracts Renegotiated

Austria's Health Minister Johannes Rauch wants to renegotiate existing CoV vaccine contracts. Rauch said he wants to negotiate more flexibility with vaccine manufacturers at the informal meeting of EU health ministers in Prague.

September 6, 2022

OPEC+ Decides on Slight Cut in Production

The alliance of oil exporting countries cuts production. Saudi Arabia and Russia are sending a clear signal to the West. With the cutback, the hopes of oil importers in Europe that they would at least be relieved of the burden of crude oil in the face of rapidly rising gas prices are fading.

September 5, 2022

New School Year 2022/23 Starts in Vienna with New Challenges

The new school year begins in Vienna and eastern Austria. In addition to the Corona challenges and the energy crisis, which have almost become the norm, compulsory schooling for all Ukrainian children is now coming, and voices have already been heard that a shortage of teachers is imminent.

September 4, 2022

Weekly Briefing: IAEA Finally Sent Mission to Ukraine

The Find out more about this week's developments. The IAEA finally sent its mission to Ukraine's Zaporizhzhya nuclear power plant and will build a continued presence at the nuclear site. Read about the latest developments in diplomacy in Vienna and Austria.

September 1, 2022

IAEA Will Maintain a Continued Presence at Ukraine's Zaporizhzhya Nuclear Power Plant

Experts from the International Atomic Energy Agency (IAEA) began inspecting Ukraine's Zaporizhzhya nuclear power. As IAEA chief Rafael Grossi said on Twitter, some of his colleagues will stay at the power plant site for several days and establish a continued IAEA presence.

September 1, 2022

Austria's President Van der Bellen Brings in Experts on Energy and Climate Issues as Advisors

Ex-Verbund boss Wolfgang Anzengruber and Wifo economist Angela Köppl are volunteering their expertise to Austrian President Van der Bellen. According to the Federal President's Office, the war in Ukraine and inflation, as well as the slowly emerging energy crisis in Europe, call for expert advice on energy economics and climate issues.

August 31, 2022

Crisis Around Viennese Energy Supply Company "Wien Energie"

Austria's largest energy supplier urgently needs money to hedge forward transactions. Otherwise, the company would have to realize huge losses.

August 30, 2022

IAEA Finally Sends Assistance Mission to Zaporizhzhya Nuclear Power

After months of negotiations and back and forth, the IAEA Support and Assistance Mission to the Zaporizhzhya Nuclear Power Plant in Ukraine is finally setting off from Vienna. The mission itself is headed by International Atomic Energy Agency (IAEA) Director General Rafael Mariano Grossi and the Agency is proud of the diplomatic success.

August 29, 2022

Austrian Chancellor Nehammer Calls for EU-27 to Stand Together for European Electricity Price Cap

Given the sharp rise in energy prices, Austrian Chancellor Karl Nehammer is calling for a European electricity price cap to "finally" put a stop to "this madness that is currently taking place on the energy markets. According to Nehammer. this is only possible through a European solution.

August 29, 2022

Weekly Briefing: Latest Developments in and Around Diplomacy

The Find out more about this week's developments. Last week was turbulent for the most important matters of diplomacy in Vienna. The war in Ukraine, the European Forum Alpbach or the efforts of international organizations in Vienna towards peaceful solutions shows once again how multifaceted diplomacy is. Read about the latest developments in diplomacy in Vienna and Austria.

August 25, 2022

Ars Electronica Festival 2022 on Art as a Theater of War

Together with the Austrian Ministry of Foreign Affairs, Ars Electronica's "Welcome to Planet B" festival offers artists who are threatened, persecuted and oppressed because of the political dimension of their works a space on its online platform entitled "State of the ART(ist)".

August 23, 2022

French Investor Meridiam Establishes Joint Venture with Magenta Telekom for Glass Fiber Expansion in Austria

Magenta Telekom and French investor Meridiam have agreed to establish a strategic partnership for Austria's largest private fiber expansion initiative. By 2030, the companies will invest 1 billion Euros in the roll-out of more than 650,000 new high-speed Internet connections for households and businesses.

August 23, 2022

ICARST 2022: Applying Radiation Science and Technology in Everyday Life

The International Conference on Radiation Science and Technology (ICARST) organized by the IAEA will be held this week in Vienna. Determining the presence of microplastics in environmental samples, removing pesticides from agricultural soil and studying how to grow tomatoes in outer space are all possible thanks to radiation techniques and will be discussed.

August 22, 2022

Weekly Briefing: New Economic Developments

The Find out more about this week's developments. The war in Ukraine is also making itself increasingly felt in the Austrian economy. In Vienna, there are new developments in the day-to-day business of diplomacy. Read about the latest developments in diplomacy in Vienna and Austria.

August 18, 2022

Vienna Increases Fees for Public Services

The City of Vienna increases the fees for water, sewage, waste disposal as well as the prices of parking tickets. The adjustment of tariffs for municipal services is made in Vienna based on the applicable valorization law.

August 18, 2022

Austria's Gas Storage Facilities Almost 60 Percent Full

As a result of the war in Ukraine, contingency plans are being put in place in Europe, as well as in Austria, to secure gas supplies. Gas storage facilities in Austria are 59.83 percent full. This means that a total of 57.2 terawatt hours (TWh) of natural gas is stored in domestic storage facilities.

August 17, 2022

Embassy of Turkey in Vienna Participated in the Program "100 Jahre Bildung für Wien"

Yusuf Yıldız, Counsellor for Education of the Embassy of Turkey in Vienna participated in the program "Come together 100 years of education" organized by the Vienna Directorate of Education on the occasion of the 100th anniversary of the establishment of the Vienna Directorate of Education.

August 16, 2022

Trade Relations With the USA: Exports and Investments of Austrian Companies on a Strong Upswing

Austrian companies are increasingly exporting to the USA. It is already their largest overseas market and mutual bilateral investments are steadily increasing. Read on to find out what influences the positive growth dynamics and why Austrian products are in such demand in the US.

August 16, 2022

Space Diplomacy: Moldova Deploys First Satellite from International Space Station

The Republic of Moldova successfully deployed its first satellite, TUMnanoSAT, from the International Space Station (ISS). Under the KiboCUBE program, the United Nations Office for Outer Space Affairs (UNOOSA) and the Japan Aerospace Exploration Agency (JAXA) contributed to this achievement.

August 15, 2022

Weekly Briefing: New Developments in Diplomacy

The Find out more about this week's developments. Austria's embassy in Baghdad will reopen after being vacant since 1991. The Director General of the International Atomic Energy Agency, Rafael Mariano Grossi, will brief the United Nations Security Council about the nuclear safety situation at Ukraine’s Zaporizhzya Nuclear Power Plant. Read about the latest developments in diplomacy in Vienna and Austria.

August 11, 2022

Integration of Ukrainian Children into the Austrian Education System

The Austrian Minister of Education, Martin Polaschek, presented a comprehensive package of measures designed to provide a solid foundation for the integration of young Ukrainians into Austria's schools and universities.

August 11, 2022

New Dilemmas Around Zaporizhzya Nuclear Power Plant in Ukraine

The nuclear safety and security situation at Ukraine’s Zaporizhzya Nuclear Power Plant is getting more complicated since the shelling of the facility. The Director General of the International Atomic Energy Agency, Rafael Mariano Grossi, will brief the United Nations Security Council about the nuclear safety situation at Ukraine’s Zaporizhzya Nuclear Power Plant.

August 10, 2022

What Happened to the Russian Sberbank in Vienna after the Invasion of Ukraine?

The Russian bank Sberbank is one of the largest in Europe and has been hit hard by the European Union sanctions triggered by the Russian invasion of Ukraine. To find out what happened to its Vienna branch and whether it can continue to do business in Austria, read on.

August 10, 2022

Worldwide Awards for Austria's Wines

In international trade magazines and at renowned wine competitions, Austrian wines generated enthusiastic voices and won top ratings, gold medals and coveted trophies.

August 9, 2022

The Importance of Migrant Businesses for Vienna's Economy

It is common to see migrants run and maintain many businesses in Vienna. They offer a variety of different products and services, but they all share one thing: they make a significant contribution to the Viennese economy. In a new study, migrant businesses were examined and their impact on Austria's capital was clearly demonstrated.

August 8, 2022

Virtual Economic Forum between Tunisia and Austria

A Virtual Economic Forum titled "Tunisia & Austria - Promoting Business & Investment Cooperation", was held online by the Tunisian Embassy in Vienna and the Austro-Arab Chamber of Commerce (AACC) in collaboration with the Tunisian Foreign Investment Promotion Agency (FIPA Tunisia).

August 7, 2022

Weekly Briefing: Vienna Iran Nuclear Talks Back on Track

The Find out more about this week's developments. Negotiations with Iran to save the nuclear agreement have resumed in Vienna. The Ukrainian ambassador, Vasyl Khymynets, recently criticized the Austrian police. Read about the latest developments in diplomacy in Vienna and Austria.

August 4, 2022

How the USA Assesses the Austrian Economy

Every year, the United States government publishes a report that informs US companies and investors about the business climate in more than 160 countries and economies, including Austria. In this US State Department report, business officials at embassies and missions around the world prepare and analyse a variety of economies that are or could be markets for US companies of all sizes. Read on if you want to know how the US views the Austrian economy!

August 4, 2022

Despite the Ukraine War: Raiffeisenbank International Doubles Group Result

In the first half of 2022, Raiffeisen Bank International (RBI), which is heavily active in Eastern Europe, achieved a significant profit despite the Ukrainian conflict. Its Bulgarian subsidiary was sold in June, which was a major contributing factor.

August 2, 2022

Iran Nuclear Talks: Iran Can Build Nuclear Bomb, But Does Not Intend to Do So

Iran says it is technically capable of producing a nuclear bomb. But the country does not intend to do so, the semi-official Fars news agency quoted the head of Iran's Atomic Energy Agency, Mohammed Eslami.

August 1, 2022

Weekly Briefing: Rising Migration in Austria

The Find out more about this week's developments. For Austria, new questions arise about the migration and integration of refugees. The coronavirus quarantine ends in August. Read about the latest developments in diplomacy in Vienna and Austria.

July 28, 2022

Earth Overshoot Day: World has Already Used Up Resources

The Earth's natural resources for this year will have been depleted by tomorrow. By tomorrow, ecosystems would need about a year to replenish their resources. According to the Global Footprint Network, which is based in the United States and Switzerland, Earth Overshoot Day is slightly earlier this year than last.

July 27, 2022

European Forum Alpbach Will be Opened by Moldovan President Maia Sandu

The Moldovan President, Maia Sandu, will attend the opening of this year's European Forum Alpbach (EFA) together with Federal President Alexander Van der Bellen on August 22. At the start of the event, they will jointly address the EFA's annual theme, The New Europe, and discuss what consequences, in light of Russia's Invasion of Ukraine, Europe must draw from its current weakness and its inaction in the past.

July 27, 2022

Wirecard Scandal: New Indications for Marsalek's Stay in Moscow

Former Wirecard board member Jan Marsalek, who has been in hiding for two years, could be living in Moscow under the protection of Russian intelligence services.

July 26, 2022

End of Mandatory Quarantine in Austria

The coronavirus quarantine ends in August. This was confirmed by Health Minister Johannes Rauch. Accordingly, anyone who does not feel ill can leave the house even after a positive CoV test but is subject to traffic restrictions.

July 26, 2022

Austria Will Take Common Line with Germany on Gas Storage

Germany and Austria have joint responsibility for storing gas, according to Energy Minister Leonore Gewessler (Greens). "We have always coordinated well with Germany," the minister said today, referring to the Haidach storage facility near Salzburg, which is also important for Germany.

July 25, 2022

Weekly Briefing: Austria Strengthens Diplomacy Towards Eastern Europe

The Find out more about this week's developments. The Austrian Foreign Minister visited Ukraine together with Czech Foreign Minister Jan Lipavský. Vienna strengthens bilateral relations with neighboring countries in Eastern Europe. Read more about this week's developments in diplomacy in Vienna and the World.

July 21, 2022

Austria has the Highest Share of Female Startups in the EU

The Federal Ministry of Labor and Economy (BMAW) had surveyed the financing situation of female startups for Austria and Europe and discussed it at a startup breakfast together with representatives of the startup community at the BMAW. At 36 percent, Austria currently has the highest proportion of female startups in the EU.

July 20, 2022