Vienna International Company News

Demand for More Artificial Intelligence in Austrian Economy

According to a study by the Boston Consulting Group (BCG), only 12 percent of Austrian businesses use artificial intelligence in their operations. For Alfred Harl, representative of the Austrian Federal Chamber of Commerce in this particular sector, Austrian companies will need to stay up to date with regard to new technologies and not be "left behind in the strong international environment."

Yesterday

Potential Closure of MAN Plant in Austria

After the majority of the workforce in the MAN plant in Steyr voted against a takeover concept of a potential investor, Austria's federal and state governments are highly invested in supporting a solution that would save more than 1,000 jobs in Steyr, Upper Austria. No solution would mean a closure of the plant by 2023.

Yesterday

New York Architecture Firm to Design New Central European University Campus in Vienna

CEU has commissioned the U.S. architectural firm Kohn Pedersen Fox Associates (KPF) to renovate and develop those Otto Wagner-designed pavilions that will form the future CEU campus. KPF President James von Klemperer is an Austrian citizen. The final site of the Central European University at the Otto Wagner site is scheduled to open in 2025.

April 13, 2021

Austria Works on Comeback Plan for Life After Covid-19

Although the Covid-19 crisis might still be very present currently, the Austrian government already tries to prepare for economic reconstruction. Chancellor Sebastian Kurz and Vice-Chancellor Werner Kogler have presented a plan, which comprises the primary goals of increasing employment, digitally and ecologically transforming the economy and improving Austria as a business location.

April 13, 2021

Covid-19: Austria Ranks Second for Aid Measures in EU

According to recent calculations published by the International Monetary Fund (IMF), Austria ranks second for Covid-19 aid measures among all EU Member States. Only Greece has spent a higher portion of its GDP (13.7%) for aid instruments, while Austria invested 11.7 percent to relieve its businesses and people.

April 12, 2021

Rail Connection Vienna - Salzburg Maintains Regular Intervals

The Austrian Climate Protection Ministry has once again ensured regular intervals for the rail connection between Vienna and Salzburg. The important connection, which is offered by the Austrian Railways (ÖBB) and Westbahn, is one of the most important rail connection in Austria and will thus be offered in regular intervals until July 4 due to an emergency award.

April 9, 2021

"Fixing the Future": Austria's Foreign Ministry Searches For Innovative Ideas

Together with the cultural broadcaster Ö1, Austria's Foreign Ministry and its network of Austrian representations abroad is searching for innovative ideas that could solve global problems. The possible admissions can relate to various contexts, among them are problems in technology, environment, business, and social issues.

April 9, 2021

Covid-19 in Austria: 2 Million Vaccinations Administered

Austria has administered two million Covid-19 vaccines. After recording the strongest vaccination day since the beginning of the vaccination process, around 1.4 million Austrians have already received their first shot, while 600,000 are fully vaccinated already.

April 9, 2021

Vienna as Industrial Location: Proximity to Eastern Market Loses Importance

A recent survey shows that Vienna's infrastructure and quality of life are location advantages for Vienna as an industrial location, but the proximity to eastern European and other eastern markets declines in importance. Only 40 percent of the 172 surveyed Viennese industrial companies see the proximity to the eastern EU countries as an advantage,

April 8, 2021

Vienna Celebrates 25 Years of EU Funding

One year after Austria's accession to the EU in 1995, the first projects with the help of the European Union were established in Vienna. 25 years later, in 2021, Vienna looks back at the hundreds of projects, which improved various aspects of the city and were only possible due to the funding provided from the European Union.

April 8, 2021

Austrian Unemployment Decreases in March

The number of unemployed Austrians has decreased significantly in March compared to the previous month. About 56,000 fewer people have been reported unemployed, while the number of people in training at the Austrian Arbeitsmarktservice (AMS) has increased. This is likely due to the recent measure, which provides training priorities in areas where there is a particular demand for qualified workers.

April 7, 2021

New Train Connection Between Prague and Vienna

The former, so-called "Vindobona" train connection between Vienna and Prague could be soon reinstated again. Talks between Austrian and Czech politicians have been positive for a connection between the two countries' capital cities, which would especially benefit Austrians from the Waldviertel, a region in the northwest of Lower Austria.

April 7, 2021

Austria Celebrates 40-Year Anniversary of Membership with European Space Agency

Austria has been part of the European Space Agency (ESA) for 40 years. Since 1981, Austria's domestic businesses, which are specialized in the field of space industry, have benefited from the membership, while "with the help of space research, Austria can take better and more effective action against the climate crisis", according to Austria's Climate Minister Leonore Gewessler.

April 2, 2021

Statistics Austria: Highest Public Deficit Since Records Began

Due to the Covid-19 pandemic, Austria has recorded its highest public deficit since the start of the record in 1954. The deficit in 2020 amounted to 8.9 percent of the GDP (EUR 33.2 billion), which was caused by a sharp increases in government spending and a decrease in government revenue.

April 1, 2021

Covid-19 in Austria: Lower Austria and Burgenland Extend Easter Lockdown

The "Easter rest" has now also been extended in the provinces Lower Austria and Burgenland until April 11. After Vienna, the two provinces have decided to prolong the lockdown until a week after Easter. The applicable rules for the eastern region of Austria include a 24 hour curfew, closure of the retail sector as well as closure of body-related services and cultural institutions.

April 1, 2021

WKO Heads: "We Cannot Afford a Pause in Vaccination"

The heads of the Austrian Federal Chamber of Commerce (WKO) are delighted about the possible acquisition of the Russian Covid-19 vaccine "Sputnik V" by the Austrian government. Furthermore, they hold on to their idea of using companies for vaccination programs, similar to the implementation with in-company testing.

March 31, 2021

Extension of Re-Employment Promise in Austria Gives Planning Security

In order to alleviate the hard-hit tourism industry, Austria's Labor Minister Martin Kocher and Tourism Minister Elisabeth Köstinger have announced to further extend the re-employment promise until the end of official closures. This gives the respective businesses more planning security, since they will not have to worry about their well-trained employees.

March 31, 2021

European Year of Rail: Austria's Gewessler Attends Kick-Off Event

The Portuguese Council of the EU Presidency has a strong focus on railroads with the European Year of Rail. At the kick-off event, which was attended by the EU Transport Ministers, Austria's Leonore Gewessler looked forward to the investments into the railway system and hoped for promotion of the mobility revolution.

March 30, 2021

Austria Joins European Financial Reporting Advisory Group

According to Austria's Finance Minister Gernot Blümel, Austria's accession to the European Financial Reporting Advisory Group (EFRAG) strengthens Austria's interests at the international level and allows for a more active role in European and international standard setting in financial reporting.

March 29, 2021

Covid-19 in Austria: Vaccine Delivery Will be Tripled in Second Quarter

Austria's Health Minister Rudolf Anschober announces a massive increase of Covid-19 vaccinations for the second quarter. Due to the tripled delivery volume compared to the first quarter and longer intervals between the first and the second vaccination, the number of vaccinated Austrians will increase rapidly in the near future.

March 29, 2021

Austrian Airlines Continues Restructuring Process

Austrian Airlines has announced to further their restructuring process. The company will be cutting more than 650 jobs by 2023, while reducing the fleet once more. CEO Alexis von Hoensbroech: "The pandemic is taking much longer than expected. For this reason, we are now taking additional measures to secure the future of our Austrian Airlines in the long term."

March 26, 2021

Austrian Companies Join Largest European Technology Initiative

Austrian companies AT&S, Infineon Austria and NXP Semiconductors Austria are joining the IPCEI Microelectronics. The total investment volume of the Europe-wide project amount to no less than EUR 8.4 billion. Federal Ministers Gewessler and Schramböck are excited about the opportunity for Austria to make an impact in European digitalization.

March 25, 2021

Austrian Airlines Resumes Operations with London and Tel Aviv

After the landing ban for passengers from the United Kingdom imposed by the Austrian government and the generally difficult air traffic situation with Israel in recent weeks, travel to London and Tel Aviv can now once again be offered by Austrian Airlines. Connections to China will, however, be suspended until April 9, 2021.

March 24, 2021

European Union Digital Day: Schramböck Demands Digital Growth

At the European Union Digital Day, Austria's Minister for Digitalization Margarete Schramböck signed two declarations that create better framework conditions for start-ups and promote green and digital transformation. Schramböck demanded the use of more digital technologies in order to "secure European jobs and value creation."

March 24, 2021

Vienna Will Host Pathologist and Muscle Researcher Congresses

The City of Vienna has successfully brought two high-ranking medical congresses to Vienna. The 28th International Congress of the World Muscle Society will be in Vienna from September 23 to 29, 2024, and the European Society of Pathology will be meeting in Vienna from September 6 to 10, 2025.

March 22, 2021

Two of Austrian Biggest Commercial Real Estate Companies Could Turn to One

The Austrian commercial real estate company Immofinanz AG has decided to make a voluntary public takeover offer for the s Immo AG. The two companies have considered a merger in the past, but the intentions never succeeded. Whether or not the public takeover offer will be going through this time depends on the General Meeting of s Immo and antitrust approvals.

March 18, 2021

All Eyes on Vienna for ViennaUP'21

Central Europe's largest startup event "ViennaUP'21" will once again take place in the spring of 2021 in Vienna. The event offers a variety of different programs and business-to-business networking opportunities. Many other events, such as the "Fintech Week" and the "Creative Days Vienna" will be part of ViennaUP'21.

March 18, 2021

High-Level Exchange on the "European Battery Alliance" with Austrian Participation

Austria's State Secretary at the Ministry of Technology, Magnus Brunner, participated in a high-level discussion on the "European Battery Alliance", which focused on the goal of making Europe an important and global player for battery innovation. Austria will be investing EUR 45 million in the project, while Austrian companies add another EUR 110 million.

March 17, 2021

AstraZeneca Vaccine: Anschober Demands Clarity from EMA

Some of the biggest European countries, including Germany, Italy and France, have suspended the use of the Covid-19 vaccine from AstraZeneca after reports of possible adverse health effects. Austria's Health Minister Rudolf Anschober does not see any evidence for causality between the vaccine and the health events and demands clarity from the European Medicines Agency (EMA).

March 16, 2021

Austrian Foreign Trade: Covid-19 Pandemic Takes its Toll

Austria's imports and exports both declined heavily in 2020. A year characterized by the Covid-19 pandemic, the total value of imports decreased by around 9 percent compared to 2019, while Austrian companies exported 7.5 percent less than the year before. In total, imports and exports resulted in a trade balance deficit of around EUR 2 billion.

March 15, 2021

Fourth Covid-19 Vaccine Approved: Austria Expects 2.5 Million Doses

The European Medicines Agency and the European Commission have approved a fourth Covid-19 vaccine. The vaccine developed by the Johnson & Johnson group only requires a single dose for proper immunization. Austria is to receive about 2.5 million doses by the end of 2021 with the first delivery expected already in the second quarter.

March 12, 2021

Austria Switches Completely to Renewable Energy Sources

By 2030, Austria's current government wants to achieve a total anergy transition. In the next nine years, the government plans for massive investments in the renewable energy sector in order for Austria to be able to produce 100 percent of its electricity with renewable energy sources by 2030.

March 12, 2021

Vienna Still Attractive for International Companies

In 2020, Vienna has welcomed more than 200 new companies despite the difficulties resulting from the Covid-19 pandemic. Mayor Michael Ludwig interprets "the high level of interest" from foreign companies in Vienna as a result of Vienna being regarded as "stable and safe economic ground".

March 12, 2021

Increase in Financial Aid for Companies in Austria Introduced

Austria's Minister for Finance Gernot Blümel has presented an increase of measures to alleviate companies from the hardships of the Covid-19 crisis. Funding for the turnover loss bonus has been increased and compensation for vacation days during short-time work has been introduced.

March 11, 2021

Vorarlberg Eases Lockdown on March 15

The model region Vorarlberg will start the easing of its lockdown on March 15. Opening steps as announced by the Austrian Health Minister and Vorarlberg's Governor include the sectors of restaurants, youth sports, events and self-help groups. The whole project will be accompanied scientifically.

March 10, 2021

EU Commissioner Breton and Kurz Discuss Vaccine Production

In a meeting in Vienna, EU Commissioner Thierry Breton, who is responsible for vaccine production, Austria's Chancellor Sebastian Kurz and Minister for Economic Affairs Margarete Schramböck discussed the possibilities of Covid-19 vaccine production in the EU and talked about other issues evolving around the different Coronavirus vaccines.

March 9, 2021

AstraZeneca Vaccine: Approval Also for Older People in Austria

Austria's National Immunization Panel (NIG) has decided to repeal its restrictions for the Covid-19 vaccine from AstraZeneca. Previously, the panel had only released the vaccine for people from 18 to 64-years old, because of the lack of data for efficiency among older people. Now, however, studies have shown that the vaccine can be used for all age groups.

March 8, 2021

International Women's Day 2021: Gender Pay Gap in Austria Still Significant

Since the International Women's Day is on March 8, Statistics Austria has revealed some data that show the still significant differences between women and men in Austria's workforce. On average, women earn around 14 percent less than men and only 3.8 percent of employed women hold managerial positions, compared to 8.1 percent of employed men.

March 5, 2021

Israel, Denmark and Austria Agree on Covid-19 Cooperation

Israel's Prime Minister Benjamin Netanyahu, Denmark's Prime Minister Mette Frederiksen and Austria's Chancellor Sebastian Kurz agreed on establishing a joint research and development foundation as well as on vaccine production. Chancellor Kurz stressed the importance of global cooperation in the fight against Covid-19.

March 5, 2021

Vienna Stock Exchange: EVN Replaces Telekom Austria in ATX

The semi-annual review of the Austrian leading index ATX has shown a change in the composition. EVN AG will replace Telekom Austria AG. Furthermore, voestalpine AG is included in the ATX five, which comprises the five largest listed companies, instead of Raiffeisen Bank International AG.

March 3, 2021

Covid-19 in Austria: Slight Easing of Regulations

The Austrian government has announced some new regulations with regard to the Covid-19 situation in Austria. The province of Vorarlberg will be facing relaxations of the current regulations as early as March 15, while the rest of the country will need to wait until the end of March and April for the opening of gastronomy and the cultural sector.

March 2, 2021

Austria Enters for the First Time as U.S. Exits Top Ten in Bloomberg's Innovation Index

Austria moves up one place to 10th place in the latest Bloomberg Innovation Index, while the U.S. dropped out of a top 10 that features a cluster of European countries. The Bloomberg index analyzes dozens of criteria using seven equally weighted metrics, including research and development spending, manufacturing capability and concentration of high-tech public companies.

March 2, 2021

Austria's Culture Sector Met With German Scientists to Discuss Opening Steps

Austria's State Secretary for the Arts and Culture Andrea Mayer and other representatives of the arts industry met with the authors of two German studies which concluded "that the risk of infection in the theater, cinema, opera or concert hall is a calculable one".

March 1, 2021

Vienna Ice Dream Concludes Extraordinary Season

The 26th Vienna Ice Dream has closed its doors for this season. After 66 days of ice skating under special circumstances, the organizers are pleased about the results and are particularly delighted about the fact that there was not a single reported case of infection which happened on the venue.

March 1, 2021

WKO President Mahrer Demands Tourism Opening in March

At the so-called "opening summit" initiated by Austria's Federal Chamber of Commerce (WKO), the president of the WKO Harald Mahrer and other representatives of the affected businesses demand to open up the tourism and leisure industry. The currently successful model of entry tests for body-related services could be expanded to these industries as well, Mahrer emphasized.

February 26, 2021

Austrian Airlines: "Clear Focus on Tourist Destinations in Summer 2021"

Resumption of more than 20 destinations, up to 150 flights per week to vacation destinations in midsummer and the inclusion of the Vienna-Hanover connection in the 2021 summer flight schedule are in preparation.

February 25, 2021

Free Covid-19 Take-Home Tests Start March 1

Starting from March 1, another Covid-19 test opportunity will be available for Austrians. Pharmacies will offer five free take-home antigen tests per person per week. In addition to the free tests conducted at more than 900 pharmacies, testing conducted at Austrian businesses, and various testing lanes, the take-home tests will be yet another opportunity of self-assessment.

February 25, 2021

Schallenberg Delighted About Delivery of Vaccinations to Ghana

The international COVAX initiative shows its first remarkable success. 600,000 doses of the Covid-19 vaccine by AstraZeneca were delivered to West Africa, specifically to Ghana. Austria's Foreign Minister, an active supporter of COVAX, emphasizes the importance of cooperation and solidarity in the fight against the pandemic.

February 25, 2021

Vienna International Center Provides Heating for Viennese Households

With a new energy recycling plant, the Vienna International Center's (VIC) air conditioning system can now provide heat for around 2,400 households in the near proximity. Waste heat of the VIC's cooling system will flow into the district heating system, which can save around 3,400 tons of CO2 each year.

February 23, 2021 · Updated: February 23, 2021; 14:55

Covid-19 in Austria: More Than 500,000 Vaccinations

Austria has already carried out more than 500,000 vaccinations against Covid-19, 200,000 people have already received their second immunization. In March, Austria's Health Minister Anschober expects delivery of more than one million doses. The second quarter of 2021 should provide Austria three times the delivery volume of the first quarter.

February 23, 2021