Vienna International Company News

Read the latest headlines about developments in international organizations, companies and institutions operating in Vienna, Austria

Raiffeisen Bank International Expects ECB Call to Accelerate Withdrawals from Russia

Raiffeisen Bank International (RBI) is facing increasing pressure from the European Central Bank (ECB) to reduce its business activities in Russia more rapidly. This follows a number of developments and the publication of an ad hoc announcement by the bank in which it is expected that the ECB will make an official request to accelerate the wind-down measures in the near future.

April 18, 2024

Group DF International and Hyundai Engineering in Vienna: New Industrial Park in Ukraine

In an ambitious move to aid Ukraine's post-war reconstruction, Group DF International, led by controversial Ukrainian oligarch Dmytro Firtash, and Hyundai Engineering Co. Ltd., have embarked on a major venture to establish a chemical industrial park in the city of Rivne, situated in Western Ukraine. This pivotal agreement was officially sealed in Vienna, setting the stage for what is poised to be one of the most substantial investment initiatives in the region.

April 15, 2024

Vienna Stock Exchange Experiences First Record Quarter Despite Global Uncertainties

The Vienna Stock Exchange closed the first quarter of 2024 with a remarkable increase in bond listings, although the economic environment continues to be characterized by high-interest rates, the ongoing war in Ukraine and the Middle East, and high inflation. Despite these challenges, the exchange recorded a record 3,000 new listings, the best start to a year in its history.

April 14, 2024

Transit Clash at the Alps: Italy's Salvini Against Austrian Bans

The increasingly explosive dispute over the Tyrolean anti-transit measures is escalating between Italy and Austria. Italy's Deputy Prime Minister and Transport Minister Matteo Salvini publicly accused the Austrian government of "arrogance" and criticized the European Commission for its "long-standing shameful inaction".

April 3, 2024

Seventh OPEC-China Energy Talks in Vienna: Joint Focus on Sustainable Future and Energy Cooperation

The seventh high-level meeting of the OPEC-China Energy Dialogue took place in the Austrian capital. The meeting was hosted by the Secretariat of the Organization of the Petroleum Exporting Countries (OPEC), with key representatives from both sides discussing their visions and plans for the future of energy cooperation and sustainable development.

April 2, 2024

Escalation in the Tariff Dispute: AUA Facing Massive Flight Cancellations at Easter

Austrian Airlines (AUA) is on the brink of an extensive strike, which is to begin on Maundy Thursday and last 36 hours. Negotiations between the trade union vida and AUA management have so far been unsuccessful, leading to the announcement that over 400 flights will be canceled during the peak travel period at Easter. Around 50,000 passengers will be affected by the cancellations, significantly disrupting the Easter plans of many travelers.

March 26, 2024

Serbian Investor Plans Entry into Austrian Addiko Bank

A new investor is showing interest in Addiko Bank, a financial institution that emerged from the former Hypo Alpe Adria Balkan banks. The Cypriot company Agri Europe Cyprus, which is attributed to Serbian businessman Miodrag Kostić, is planning to acquire a significant stake in the bank.

March 25, 2024

Negotiations at AUA at a Standstill: Risk of Strike at Easter Increases

An impending strike at Austrian Airlines (AUA) is casting its shadow and threatening the upcoming Easter travel season. The negotiating parties are sticking to their positions regarding the collective agreements and an agreement seems a long way off.

March 24, 2024

European Gas Conference in Vienna Postponed due to Protests

The European Gas Conference planned for March 26-28 in Vienna is no longer on the international energy industry's calendar. Security concerns caused by announced protests forced the organizers to postpone the event indefinitely.

March 14, 2024

Raiffeisen Bank International Under Observation by U.S. Sanctions Authorities

Raiffeisen Bank International (RBI), a prominent financial institution based in Austria, is the focus of the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) due to its ongoing business relationship with Russia. OFAC has contacted the bank to request details of its transactions and processes related to Russia.

March 11, 2024

U.S. Ambassador Kennedy Will Lead Austrian Delegation to Major Investment Summit in the U.S.

In a major announcement from the US Embassy in Vienna, it has been revealed that US Ambassador Victoria Kennedy will lead a high-profile Austrian delegation to this year's SelectUSA Investment Summit. The event, which will take place from June 23-26, 2024 at the prestigious Gaylord National Resort & Convention Center in National Harbor, Maryland, is considered a key platform for promoting foreign direct investment in the United States.

March 10, 2024

Signa's Major Project "Lamarr" in Vienna Seeks New Owner

The prestigious "Lamarr" real estate project on the bustling Mariahilfer Strasse, a flagship property of the troubled Signa Group, is now officially on the market.

March 6, 2024

Austrian Technology at the Center of Gigantic Construction Projects in Dubai

The Austrian company Doka is continuing its international success story and will once again demonstrate its expertise in high-rise construction. The planned Azizi Tower in Dubai, which is to be completed within the next four years, aims to become the second tallest building in the world.

March 5, 2024

City of Vienna Warns of Nuclear Renaissance and Small Modular Reactors in Europe

In a recent statement, Vienna City Councillor for Climate Action Jürgen Czernohorszky, who is also Chairman of the Cities for Nuclear Free Europe (CNFE) initiative, is critical of Sweden's nuclear power plans, the situation, and the development of Small Modular Reactors in Europe.

March 4, 2024

Vienna Airport Expands Cargo Traffic with Asia

Vienna Airport is setting new standards in international air cargo traffic through significant cooperation agreements with Incheon Airport in South Korea and the renowned airline Korean Air. These strategic alliances mark a decisive step towards increasing capacities and efficiency in the cargo sector between Europe and Asia and further strengthening Vienna's position as a leading hub in the air cargo industry.

February 28, 2024

Chinese BYD Strengthens Presence in Austria

Chinese car manufacturers are becoming increasingly present in the European car market and are openly demonstrating their role. The Chinese company BYD proudly presents its cars and other products on the Austrian market.

February 28, 2024

Financial Turbulence and Internal Conflicts Shake Signa Group Severely

The Signa Group's financial crisis reached a new peak when creditors filed claims totaling EUR 6.3 billion against Signa Prime, of which only EUR 2.6 billion were recognized by the restructuring administrator Norbert Abel. The hearing at the Vienna Commercial Court revealed that the group's financial difficulties are deeper than previously thought, with a significant proportion of the claims in dispute.

February 26, 2024

Financial Market Authority Initiates Investigations Against Raiffeisen Bank International

The Austrian Financial Market Authority (FMA) has launched an investigation into Raiffeisen Bank International (RBI). The focus is on possible deficiencies in the implementation of money laundering prevention measures, as can be seen from the bank's annual report published today.

February 25, 2024

Austria's Foreign Minister Schallenberg Criticizes Italy's Transit Lawsuit

Austria's Foreign Minister Alexander Schallenberg has sharply criticized Italy after the country decided to take legal action against Austria's Alpine transit regulations before the European Court of Justice (ECJ).

February 17, 2024

Michelin Guide Puts Austria's Cuisine Back on the Map

The MICHELIN Guide, one of the world's most renowned institutions for restaurant ratings, has announced that it will once again publish an Austria-wide selection of top restaurants from 2025.

February 15, 2024

Austrian Politician and Doctor Pamela Rendi-Wagner in the Race for the Head of the ECDC

The former leader of the Austrian Social Democratic Party (SPÖ) and qualified doctor Pamela Rendi-Wagner is facing a potential new challenge in her career. She is on the shortlist for the position of head of the European Center for Disease Prevention and Control (ECDC), an important EU authority based in Stockholm.

February 15, 2024

Signa Group's Luxury Properties up for Sale: A Glimmer of Hope for the Redevelopment

Signa Prime Selection AG, a major player in the luxury real estate market, is currently facing financial difficulties that could now be alleviated by the planned sale of some of its most prestigious properties. Karl-Heinz Götze, the insolvency manager of the credit protection association KSV1870, sees this step as a crucial "piece of the puzzle" for an orderly resolution of Signa Prime's insolvency proceedings.

February 14, 2024

Vienna Airport Focuses on Expansion: 420-Million-Euro Terminal Expansion Project Launched

The foundation stone for a comprehensive terminal expansion has been laid at Vienna Airport Schwechat. With a budget of 420 million euros, the airport will not only become larger but also more modern and customer-friendly by 2027.

February 14, 2024

Austria's Army is Gearing Up: Large-Scale Investment in Wheeled Tanks, Helicopters and Aircraft

The Austrian Armed Forces is facing a significant expansion of its vehicle fleet and aircraft fleet. The Ministry of Defense under department head Klaudia Tanner had already planned and made several new purchases since 2021.

February 13, 2024

Austria Plans to Withdraw from Russian Gas Contracts

In a decisive step against continued energy dependence, Energy Minister Leonore Gewessler (Greens) announced that she would end the gas supply contracts between OMV and the Russian company Gazprom. The contracts, which run until 2040 and oblige Austria to purchase significant quantities, are under critical review. Gewessler commissioned the Economic Research Institute (WIFO) to carry out a detailed analysis of the economic consequences of termination and the risks of continued dependency.

February 12, 2024

Africa Day 2024: Austria Looks to Africa's Future Markets

This year's Africa Day was all about Africa's future markets and offered a platform to strengthen economic relations between Austrian and African companies. Organized by the Austrian Federal Economic Chamber (WKÖ), the event attracted more than 1,200 participants from Austria, over 30 African countries, and guests from Europe, Asia, and the USA.

February 5, 2024

Signa-Retail Company Lamarr Declares Bankruptcy

The highly anticipated Lamarr Kaufhaus project on Mariahilfer Straße in Vienna, set to include a flagship department store and hotel, has filed for bankruptcy. This development comes as a significant blow, as the project, originally slated for completion in 2025, has faced financial turmoil. The insolvency was confirmed by the Creditors' Protection Association KSV 1870 on Friday.

February 4, 2024

Saudi Arabia Allows Alcohol Sales to Foreign Diplomats for the First Time

In a significant change to its long-standing policy, Saudi Arabia has decided to allow the public sale of alcohol to "non-Muslim diplomats". This marks a historic departure from the country's strict alcohol ban.

January 25, 2024

Austrian Justice Minister Zadić Plans Reforms in Connection with the Signa Insolvency

The insolvency of the Signa real estate company has far-reaching consequences, which are now also prompting the Austrian Ministry of Justice under the leadership of Green Justice Minister Alma Zadić. In a five-point plan in response to Signa's insolvency, Zadić plans to significantly tighten the penalties for failing to submit balance sheets.

January 24, 2024

Promotion of Democracy in the Age of AI by the U.S. Embassy in Vienna

The U.S. Embassy in Austria, in cooperation with the Austrian Federal Ministry for European and International Affairs (BMEIA), recently hosted renowned AI ethics and policy expert Merve Hickok for an important dialog on global challenges. This initiative is part of the "U.S.-Austria Citizen Dialogue on Global Challenges".

January 22, 2024

"Africa! Africa!" Enchants Vienna with a Spectacular Show

"Africa! Africa!" has now also captivated audiences in Vienna after its impressive success in several Austrian cities. The premiere, which took place on January 19, 2024, in the St. Marx circus tent, was a feast for the senses and cultures that delighted the guests of honor and spectators alike.

January 22, 2024

Signa Prime and Development: Future Secured Despite Insolvency

The future of the two important branches of the Signa Group, Signa Prime and Signa Development, seems secure for the time being.

January 15, 2024

Austrian Banking Sector Focuses on Sustainability: OeKB > ESG Data Hub Established

In a remarkable step towards promoting sustainability in the financial sector, Oesterreichische Kontrollbank (OeKB) has successfully introduced the OeKB > ESG Data Hub. Around 80% of the domestic banking sector, including well-known institutions such as UniCredit Bank Austria, Raiffeisen-Sektor, Erste Bank, and Sparkassen as well as Oberbank, already use this central online platform.

January 11, 2024

Westbahn Maintains Service Between Vienna and Munich During GDL Strike

Despite the announced three-day strike by the German Train Drivers' Union (GDL), which will take place from Wednesday, January 10 to Friday, January 12, 2024, WESTbahn confirms that its train services to and from Rosenheim and Munich will continue to run as planned.

January 9, 2024

Political Thriller Around the Abramovich Villa in Austria

The sale of a villa on Lake Fuschl to Russian oligarch Roman Abramovich's family in Salzburg has been revealed to have disappeared. The property was acquired through an offshore letterbox company and a British trustee. The Green Party is now calling for the sale to be reversed, requiring a trust deed. The party is seeking clarification on how the sale can be reversed without the deed.

January 9, 2024

Vienna Stock Exchange Overcomes Challenges in 2023 with Record Bond Listings

The Vienna Stock Exchange experienced a challenging year in 2023, characterized by high interest rates, persistent inflation and geopolitical tensions affecting the European equity markets. Despite these unfavorable conditions, which impacted trading activity, the exchange achieved a record year for bond listings.

January 8, 2024

Financial Crisis at Signa: Bankruptcy Proceedings Initiated for Subsidiaries

The financial difficulties of Signa's flagship Signa Prime Selection lead to further negative developments within the group.

January 8, 2024

Signa Crisis: Call to Investors for Financial Support

Signa Holding, a prominent real estate company, is facing financial difficulties. Erhard Grossnigg, the Chief Restructuring Officer of the Signa subsidiaries Prime and Development, has sent a letter to investors urgently requesting additional funding.

January 4, 2024

UNOOSA Launches "Space Bridge" to Promote Global Space Dialogues

The United Nations Office for Outer Space Affairs (UNOOSA) has launched the "UNOOSA Space Bridge" under the leadership of Aarti Holla-Maini. This project was presented at the World Space Forum in Vienna and aims to strengthen global dialog to promote local action. The initiative aims to promote international expertise through targeted exchange programs and connect isolated areas of work.

January 2, 2024

Obituary of Gaston Glock: Austria's Most Famous Gunmaker

Renowned entrepreneur and engineer Gaston Glock, founder of the world-renowned gun company Glock, has passed away at the age of 94. Glock, who founded the company in 1963 in Deutsch-Wagram in Lower Austria, revolutionized the industry with his gun production and established his brand globally.

December 28, 2023

French-Austrian Cultural Exchange: Costa-Gavras Honors Vienna with an Inspiring Visit

Vienna was enriched by a visit from the renowned Franco-Greek director Costa-Gavras. Accompanied by his wife Michèle, the award-winning cineaste enjoyed a day full of cultural highlights in the Austrian capital. The visit concluded with a meeting between Costa-Gavras and leading representatives of the Austrian film at the French Embassy.

December 27, 2023

Emirati State Fund Mubadala Fails with Claim Against Signa Holding

The Abu Dhabi sovereign wealth fund, Mubadala, has failed with a significant claim against the insolvent Signa Holding. The request to claim a payment of 713 million euros was rejected in emergency arbitration proceedings.

December 21, 2023

Vienna Stock Exchange Expands Offering with Focus on ESG and Digitalization

The Vienna Stock Exchange has announced a significant expansion of its offering in the global market and Exchange Traded Funds (ETFs) segments with a focus on ESG (Environmental, Social, and Governance) and digitalization.

December 21, 2023

New Second Home Tax in Vienna in 2025

Vienna is implementing new measures to regulate second homes. From 2025, an annual tax will be introduced for people who have a secondary residence in Vienna but do not have their main residence there.

December 21, 2023

Russian Oligarch Oleg Deripaska Sells STRABAG Shares to Russian Corporation

The Russian oligarch and major shareholder of STRABAG, Oleg Deripaska, has initiated a sale of his considerable stake in the Austrian construction group to a Russian joint stock company.

December 19, 2023

Vienna Commercial Court Establishes Creditors' Committee for Signa Holding

The Austrian Signa Holding, founded in 2000 by René Benko, is currently facing major challenges. The Commercial Court of Vienna has set up a creditors' committee for the ongoing reorganization proceedings to examine the non-transparent structures of the Signa Group and to decide on the reorganization plan offered by Signa.

December 18, 2023

Ukraine Removes Raiffeisen Bank International from the List of "War Sponsors"

The Ukrainian government has temporarily removed Raiffeisen Bank International (RBI) from the controversial list of "war sponsors". This step follows intensive bilateral talks and consultations with representatives of the European Commission. RBI, which was previously criticized for its business activities in Russia and the recognition of the self-proclaimed Donetsk and Luhansk People's Republics by its Russian subsidiary, is now no longer suspected of supporting the Russian war of aggression.

December 17, 2023

Jan Marsalek's Deep Connections with Russian Intelligence Revealed

Jan Marsalek, once a high-ranking figure at Wirecard and now one of Europe's most wanted criminals, has been exposed as a long-time spy for Russia. Marsalek is reportedly currently in Dubai and is reorganizing Russian operations in Africa.

December 15, 2023

OMV's Borealis to Merge with Borouge in a 30 Billion Euro Deal

OMV's subsidiary Borealis is set to merge with the Abu Dhabi-based petrochemical company Borouge, creating a new global heavyweight in the chemical and plastic sector with an estimated value of 30 billion euros. This significant move marks a transformative step in the ongoing value creation and chemical growth strategy of both companies.

December 14, 2023

The Future of a Crumbling Empire: René Benko's Signa Group in Insolvency

The insolvency of the Signa Group, an Austrian company active in various sectors, including the real estate market, has far-reaching implications. Read more about the future of the Austrian flagship company!

December 6, 2023