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Vienna International Company News
Read the latest headlines about developments in international organizations, companies and institutions operating in Vienna, Austria
Austrian Railways Relaunch International Connections
It is now once again possible to travel to European metropolises with the Austrian Railways (ÖBB). With the opening steps in the various areas of public life in Austria on May 19, the ÖBB has also revealed some changes to its schedules.
May 17, 2021
Vienna's Subway U2 Will Stop Operation in City Center
As part of the construction works for the new subway line U5, the U2 will stop its operation between the stations Rathaus and Karlsplatz until fall 2023. Read below to find out about the details of the construction work and the alternative routes available.
May 17, 2021
Weekly Briefing: Bilateral Agreements Could Replace EU-wide Green Passport
In a number of bilateral talks, Austria has emphasized the need for an EU-wide travel solution for the summer. In case Brussels is not picking up pace, bilateral agreements with European countries could replace the European "Green Passport". Find out more about this week's developments.
May 14, 2021
Viennese Start-Up Event Reaches 10 Million People
The Viennese startup event ViennaUP'21, which took place from April 27 to May 12 in a virtual format, can be viewed as a success. The reasons behind its success, the highlights of the event as well as what remains can be found out here!
May 14, 2021
Austria Sees Potential Global Economic Leadership
Only recently, the Austrian government has announced a comprehensive location strategy, which should enable Austria to position itself among global economic leaders in some particular segments.
May 10, 2021
Weekly Briefing: End of Lockdown for Vienna and Lower Austria Stirs Up Hope
Now Vienna has also officially confirmed that on May 19 the long-awaited opening will take place. The end of the lockdown in Vienna and Lower Austria and nationally reaching 3 million Covid-19 vaccinations are not the only indications that the Austrian economic recovery gets off the starting blocks. Find out more about this week's developments.
May 6, 2021 · Updated: May 6, 2021; 17:05
Unemployment Decreases: Austria's Economy Trends Upwards
Austria's economy and employment show signs of recovery. The recent unemployment figures show a decline of about 8.7 percent in April compared to the previous month. Compared to last April, which was one of Austria's first months in the midst of the pandemic, this is a decrease of 32 percent.
May 4, 2021
Schallenberg, Kulhánek and Korčok Condemn Violence Against Journalists
The three Foreign Ministers from Austria, the Czech Republic and Slovakia have issued a joint statement emphasizing the importance of free journalism. The commentary was published in newspapers from the respective countries, a summary of the statement can be read below.
May 4, 2021
Austria's Museums Welcome Guests with Special Offer
Austria's Federal Museums are going strong into the summer. After various lockdowns in the recent months, the museums have announced to once again issue a Federal Museums Card campaign. More information about how it works and the prices can be found below.
May 3, 2021
Austrian Multinational Company Loses Current CEO
The Austrian multinational corporation OMV has announced that its current CEO, Rainer Seele, will end his term in June 2022. Only recently, criticism against OMV and Seele have increased. Find out more about how his end at OMV and the criticism relate.
May 3, 2021
Vienna Stock Exchange: Introduction of 13 Asian Companies
The Vienna Stock Exchange has expanded its offering on the global market by three Chinese and ten Japanese stocks. This addition was made after recently recording a growing demand for Asian shares. Among the new companies offered are the technology group Fujifilm and the pharmaceutical company Takeda Pharmaceutical.
April 29, 2021
Business Location: Austria Invests in Broadband Internet
The Austrian government has announced plans of investing EUR 1.4 billion into broadband expansion. The aim of the investment is to strengthen Austria as a business location and to enhance economic development in rural areas. By 2030, a quick and stable Internet connection will be provided nationwide.
April 29, 2021
Austrian Residential Property Market: Prices Continue to Rise
The real estate market in Austria continues to boom. Last year again surpassed the record set the year before, with both sales and the value of properties sold continuing to rise in 2020 compared with 2019. The most expensive district outside Vienna remains Kitzbühel in Tyrol. Housing prices in a five-year comparison: Austria: +26%, Vienna: +21%, Burgenland: +47%, Vorarlberg: +45%, Carinthia: +18%. Find out how the Austrian real estate market works.
April 28, 2021
Covid-19 in Austria: Vienna Ends Lockdown
Vienna Mayor Michael Ludwig announced the end of the lockdown in Vienna for May 2. Starting next Monday, the retail sector as well as body-related services will reopen, while the FFP2-mask requirement in selected outdoor areas will also be suspended. Ludwig, however, wants to be cautious with regard to the Austrian-wide opening steps starting May 19.
April 28, 2021
Dubai Expo: Which Austrian Companies Will Benefit from the Exhibition in the UAE?
Expo 2020 Dubai, which will take place in the United Arab Emirates from October 1, 2021 to March 31, 2022, is advertised above all as an opportunity for "Austrian companies to make a lasting impression with their innovative strength and creativity". The fact is that so far apparently only a handful of construction and design-related companies directly involved in the development of the Austrian pavilion financed by Austria are benefiting from the project. Which Austrian companies are involved in the project, you will find out in the following.
April 27, 2021
Austria Joins Global Renewable Energy Network
Austria has become a member of the REN21 Renewable Energy Network, an international community with actors from academia, governments, NGOs and industry. Austria's Climate Protection Minister Leonore Gewessler hopes for a closer collaboration between international stakeholders with regard to the energy transition around the world.
April 27, 2021
Austria Welcomes EU's Artificial Intelligence Framework
Austria's Minister for Digital Affairs, Margarete Schramböck, welcomes the new EU proposition of rules for artificial intelligence. Schramböck stresses the need for an EU-lead process and advocates for secure and innovative solutions that would "promote innovation while ensuring a high level of protection and security."
April 26, 2021
Covid-19 in Austria: Openings Start May 19
The Austrian government headed by Chancellor Sebastian Kurz has announced the opening plans for the near future. On May 19, previously closed sectors such as the tourism, events and sports sector will re-open, while restaurants and schools will also return to "normal" business. Entry requirements will be put in place in order to keep the risk of infection relatively low.
April 26, 2021
Activities of Arab Countries in Vienna to Strengthen Mutual Cooperation
The Austro-Arab Chamber of Commerce (AACC) under Secretary General Eng. Mouddar Khouja reports on various activities and means to strengthen mutual cooperation between Austria and the Arab countries UAE United Arab Emirates, Egypt and Qatar.
April 25, 2021
International Startup Event "ViennaUP21" Starts April 27
The startup event "ViennaUP21" will take place from April 27 to May 12 in a purely digital format. Within the umbrella of ViennaUP21, 40 program partners will be hosting 100 events for interested people, institutions and organization from more than 45 countries. Registration is free.
April 23, 2021
Extension of Austria's Internationalization Program "go-international" Announced
Austrian Economics Minister Margarete Schramböck and President of the Austrian Federal Chamber of Commerce (WKO) Harald Mahrer extend the joint internationalization offensive "go-international" and provide EUR 25.6 million for the next two years. The funding will focus on the areas of innovation and technology, value chains and digitalization.
April 20, 2021
Austria Implements Funding for Ethnic Group Media
After the increase of funding for ethnic groups in Austria in general about half a year ago, Susanne Raab, the Minister of the Chancellery responsible for ethnic group affairs, has now announced a separate budget for ethnic group media, which can be applied for in the near future.
April 20, 2021
Austrian Companies Develop Innovations for Africa
On the occasion of the "Africa Innovation Challenge 2021" organized by Advantage Austria - Aussenwirtschaft Austria, several Austrian companies have developed innovative solutions to solve societal challenges in Africa's dynamic markets. At the World Summit Award (WSA), five projects have been selected champions by an international jury.
April 19, 2021
Covid-19 in Austria: Additional Doses Speed Up Vaccination Campaign
Due to the additional Covid-19 vaccine doses from BionTech/Pfizer for the European Union, Austria is able to speed up its vaccination program. According to Austria's Chancellor Kurz, 6 million people in Austria can get their first vaccination by mid-July.
April 16, 2021
Austria Increases Turnover Loss Bonus
Companies, which are experiencing significant revenue shortfall due to the ongoing Covid-19 crisis, can now submit their applications for the Austrian turnover loss bonus for the months of March and April. The total amount available for companies has been increased to EUR 80,000 per month.
April 16, 2021
Austria Receives Additional 500,000 Covid-19 Vaccines in Q2
After successful negotiations between the European Commission and BionTech, the vaccine producer has agreed to deliver 50 million doses of the Covid-19 vaccine in the second quarter of 2021, instead of in the fourth quarter. This means an additional 1 million doses for Austria which will be administered from April to June.
April 15, 2021
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."
April 14, 2021
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.
April 14, 2021
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
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