Vienna International Company News

Swedish Digital Platform Sellpy Launches in Austria

The e-commerce platform for selling second-hand fashion has now also been launched in Austria, following Sweden, the Netherlands and Germany. As a result, Sellpy, which is part of the H&M Group, is now active in four countries.

February 3, 2021

Vienna Hopes for Revival as Congress Metropolis

The Covid-19 pandemic has influenced numerous different industries. Conventions, congresses and large-scale corporate events have not been possible, although they were important drivers for Vienna's tourism and international standing as congress metropolis. For 2021 and the upcoming years, the city hopes to experience a revival of this particular industry.

February 3, 2021

Austria's National Budget: EUR 22.5 Billion Deficit

The Covid-19 crisis has severely impacted Austria's economy and national budget. The Ministry of Finance has issued its financial results for the year 2020, which shows a deficit of EUR 22.5 billion. Higher expenditures for measures in connection with Covid-19 and a decrease in public levies are the main reasons for the bad results.

February 3, 2021

Covid-19 in Austria: New Rules Apply From February 8

Austria's federal government has announced a slight relaxation of the current lockdown. Shops and schools will reopen under certain requirements, but penalties for disregarding measures and and entry into Austria will be tightened. The aim of the government is to contain the current virus mutations from the UK and South Africa.

February 2, 2021

Third Covid-19 Vaccine: Only Approval for 18 to 64 Years Olds in Austria

The European Medicines Agency (EMA) has approved a third Covid-19 vaccine - produced by Astra Zeneca. However, Austria's National Immunization Panel has recommended the use of the newest of the three vaccines only for the age groups below 65 due to a lack of sufficient data for older generations.

February 1, 2021

"Ronaldo of Investment Banking" Becomes New CEO of Bank Austria Parent Company

The Board of Directors of UniCredit SpA, which owns 96.35% of Bank Austria, unanimously nominated "deal junkie" Andrea Orcel as designated CEO to replace the outgoing CEO, Jean Pierre Mustier.

January 31, 2021

Blümel: EU's Raise of State Aid is Necessary Step

The European Commission has extended its framework for state aid to support companies that are affected by Covid-19. In addition to the extension, the current thresholds have been raised, which was a highly necessary decision according to Austria's Finance Minister Gernot Blümel.

January 29, 2021

European Battery Initiative Launches With Austrian Participation

The European Commission has approved a EUR 11.9 billion large-scale battery project. Austria will play a decisive role in this initiative having involved six companies. The aim of the project is to create a competitive, innovative and sustainable value chain for batteries and thus working towards achieving the European Green Deal.

January 28, 2021

Construction Works for Vienna's New Metro Line Have Begun

The construction works for Vienna's public transport extension has begun. The U2xU5 project, which will result in a whole new metro, the U5, and an extension of the current U2 line is set to be completed by 2026 and 2028, respectively. Austria's Federal Ministers for Finance and Climate Protection as well as Vienna's City Councillor for Public Transport took part in the groundbreaking ceremony.

January 28, 2021

Influential OPEC Fund Celebrates 45th Anniversary

The Vienna-based OPEC Fund for International Development marks its 45th anniversary today. Since inception in 1976 by the Member States of OPEC, the multilateral development finance institution has approved more than US$25 billion in essential financing for 135 partner countries.

January 28, 2021

Austria Joins International Renewable Energy Agency

Since January 1, 2021, Austria is member of the International Renewable Energy Agency (IRENA). During the Agency's General Assembly, Austria's Climate Protection Minister demands a transformation of the world's energy system towards 100 percent renewables and is pleased that Austria will make a contribution to this change.

January 26, 2021

Investment Subsidy Program Gets Extended

The Austrian government has announced an extension of the investment period for which subsidies will be granted. The high demand for the subsidy shows that many companies are hoping for a quick recovery from the current pandemic, which secures important jobs and strengthens Austria as a business location.

January 25, 2021

Covid-19 Vaccine: Austria Awaits Approval for AstraZeneca

The European Union's third Covid-19 vaccine might be approved very soon. A decision by the European Medicines Agency (EMA) is expected by January 25, 2021. Austria's vaccination plan relies heavily on this third vaccine, although delivery shortages in the first months after approval have already been announced.

January 25, 2021

Austria Extends Lockdown Until February 7

The Austrian government has announced an extension of the current lockdown until at least February 7, 2021. Due to only a very slow decline in Covid-19 cases and the virus mutations from Great Britain and South Africa, which are more contagious and spread actively through the EU, the lockdown was extended and wearing a FFP2 mask in public transport and stores will be mandatory.

January 22, 2021

Vienna Opens First Covid-19 Vaccination Line

By Monday, January 18, 2021, about 11,000 physicians, paramedics and other people working in the medical sector, will be the first ones to receive the vaccines in the so-called vaccination lines set up by the City of Vienna. All Viennese residents can pre-register for a Covid-19 vaccination starting January 18, 2021.

January 15, 2021

Kunsthistorisches Museum of Vienna Offers 3D Exhibition

The Kunsthistorisches Museum (KHM) in Vienna offers visitors a virtual tour on its collection of the famous Pieter Bruegel the Elder. The KHM has the world's largest collection of the Belgian's pieces and will be displaying the twelve works with additional information in six different languages online.

January 15, 2021

Brexit Agreement: Austria's Economy Significantly Better Off

The Austrian Institute of Economic Research (WIFO) has issued a study in which the effects of the post-Brexit trade agreement between the United Kingdom and the European Union was compared to a no-deal scenario. The results of the study show that the Austrian economy be happy with the negotiated agreement.

January 14, 2021

WKO: Vaccination in Austrian Businesses Possible

Austria's companies could be used as part of the vaccination strategy. This is what many major companies and Austria's Federal Chamber of Commerce suggest. The readily available infrastructure could provide testing and vaccination facilities for up to 500,000 employees in the various industries.

January 12, 2021

Austria Provides Medical Treatment for Kosovar Patients

An impactful gas explosion in Kosovo left more than 40 people injured, several of them needing urgent intensive medical treatment. After the Kosovar government approached the Austrian Foreign Ministry, Chancellor Kurz and Foreign Minister Schallenberg reacted immediately and promised to help.

January 11, 2021

Additional 6 Million Doses of Covid-19 Vaccine for Austria

Due to the recent order activity of the European Union at BioNTech/Pfizer, Austria will receive an additional 6 million doses of the Covid-19 vaccine - 1.5 million already in the second quarter of 2021. In total, the EU has secured itself the right for additional 300 million doses from BioNTech/Pfizer.

January 8, 2021

Vienna Prepares for Second Mass Testing

Vienna's residents can have themselves tested once again during the period from January 8 to January 17. The tests will be conducted at the same three locations like during the first mass testing. Although the city prepares capacities for up to 900,000 people, registration for an appointment is required.

January 7, 2021

EMA Approves Second Covid-19 Vaccine: Austria Receives 890,000 Doses

The European Medical Agency (EMA) and the European Commission have approved the second Covid-19 vaccine for EU member states. The vaccine from the producer Moderna will provide Austria with another 890,000 doses in the first half of 2021. Austria's Health Minister expects approval for the vaccine from AstraZeneca by February.

January 7, 2021

WKO: Lockdown Extension a "Blow For Domestic Trade"

Once again the Austria's Federal Chamber of Commerce (WKO) does not entirely support the federal government in its decision to extend the lockdown and cancel the opportunity to escape the lockdown with a negative Covid-19 test. The WKO demands plans for the affected companies and aid for the suppliers indirectly affected by the crisis.

January 5, 2021

Austria's Real Estate: Single-Family Houses Expensive, Offices Cheap

Also as a result of the Covid-19 crisis, living spaces with a garden, a balcony or a terrace see a significant increase in demand, while office spaces and other commercial real estate loses value. Another new aspect of the real estate market in Austria is the rise in demand for single-family houses in the outskirts of bigger cities.

January 5, 2021

Austria's Unemployment Rate at 11 Percent

Crisis-related unemployment, especially due to the lack of a seasonal start in tourism, has a huge impact on the unemployment rate in Austria at the moment. More than 500,000 people are currently seeking for jobs, which is an increase of more than 63,000 compared to the previous. month.

January 5, 2021

Covid-19 Vaccine: Good Tolerability So Far in Austria

The feedback from the nursing homes and other institutions who have already used the vaccine from BioNTech and Pfizer has shown very good tolerability so far. In addition, the Ministry of Health expects market approval for another Covid-19 vaccine in the next week.

January 4, 2021

Investment Agreement with China Opens Doors

The European Union and China have agreed on a joint investment agreement. The core elements of the "Comprehensive Agreement on Investment" (CAI) include better market access, sustainability and a level playing field for European and Chinese companies. Considering the fact that China will be the biggest economy of the world in the near future, the agreement opens doors to a huge market.

December 30, 2020

Anschober: Covid-19 Measures Help Against Influenza

According to the Ministry of Health, Austria's Covid-19 measures also prevent the spread of influenza viruses. Compared to 2019, only a small fraction of influenza viruses were detected this year. Health Minister Anschober has repeatedly highlighted the importance of keeping both Covid-19 and influenza cases down in order to maintain availability of intensive care units.

December 30, 2020

Schramböck: "UK Will Remain Important Partner in Europe"

Although the United Kingdom will be leaving the European Union's customs union and single market at the end of 2020, Austria's Economics Minister Schramböck assures that "Austria's companies will continue to play a significant role in the UK markets" in the future. The newly negotiated agreement between the UK and the EU will provide a proper framework for these business relations.

December 30, 2020

Austria Supports Montenegro By Providing Care for Covid-19 Patient

After an offer by Foreign Minister Schallenberg at the beginning of the Covid-19 crisis, Montenegro has made use of Austria's proposal to take over the care Covid-19 patients in need of intensive medical treatment. A 46-year old male patient has been transferred to a hospital in Klagenfurt and will be treated in the intensive care unit.

December 28, 2020

German Wind Farms Sold to Austrian Energy Provider

Austria's Wien Energie managed to acquire 49 percent of the wind farm portfolio of the German Encavis in Austria. This deal will further reduce the CO2 emissions of the energy company and adds an additional 37 gigawatt hours of renewable energy for households in Vienna and the surrounding area.

December 23, 2020

Covid-19 Vaccine: Austria Starts on December 27

The vaccination process against Covid-19 in Austria will start on December 27. As already announced by the President of the European Commission Von der Leyen, the vaccine developed by BioNTech and Pfizer is distributed in the upcoming days, making a vaccination start before 2021 possible.

December 23, 2020

Austria Ranks Fifth in Share of Renewable Energy Sources

In a newly published report by the European statistics office Eurostat, Austria is one of the most environmental-friendly EU member countries with regard to energy sources. Austria ranks fifth in a statistics that gathers data about the share of renewable energy sources in the total gross energy consumption of a country.

December 21, 2020

EMA Approves Covid-19 Vaccine

The European Medicines Agency (EMA) recommended the approval of a Covid-19 vaccine developed by BioNTech and Pfizer. Ultimately, the European Commission granted approval and the first vaccine will be used on December 27. Further Covid-19 vaccinations are awaiting approvals in the upcoming weeks.

December 21, 2020

WKO Heads Demand Clear Plan for Path to Normality

The heads of Austria's Federal Economic Chamber demand a clear plan that shows a step-by-step path to normality. They demand regular mass testing, where negative test results are connected to more freedoms. According to them, the lockdown immediately after Christmas will hit many companies particularly hard.

December 18, 2020

ECJ Bans Exhaust Software: Anschober and Gewessler Demand Changes

The European Court of Justice has decided to ban software used to embellish exhaust emission values in diesel cars. Austria's Climate Protection Minister Gewessler and Consumer Protection Minister Anschober hope for a move by the car manufacturers in order to provide retrofits and compensate injured consumers.

December 17, 2020

Von der Leyen Hopes for Joint Start of Covid-19 Vaccinations

EU Commission President Von der Leyen wants a joint and rapid start of Covid-19 vaccinations for all EU member countries. After the likely approval of the European Medicines Agency (EMA), vaccines will be distributed among the member states and vaccination will start immediately.

December 16, 2020

European Innovation Council Funds Austrian Projects

Two projects with Austrian-based research are involved in a new funding project of the EU's European Innovation Council. A total amount of EUR 74 million is distributed among 18 projects that research in cutting-edge technologies. Additionally to the funding, coaching and business development supported is provided by the Council.

December 14, 2020

Share of E-Cars in New Registrations Exceeds 10 Percent

For the first time ever, electronic cars made up more than 10 percent of the new registrations of motor vehicles. Although the numbers of new registered vehicles is far lower compared to last year, the e-mobility sector has seen an obvious increase in numbers over the recent months.

December 11, 2020

New European Climate Target: Kurz and Gewessler Delilghted

The European Council has agreed on a new climate target for 2030. The member states want to decrease annual greenhouse gas emissions by at least 55 percent and also take other steps on their path to climate neutrality until 2050. Austria's Chancellor Kurz and Minister Gewessler are pleased with the agreement.

December 11, 2020

WKO and IV: Need for "Climate Protection with Common Sense"

The heads of the Austrian Federal Chamber of Commerce (WKO) and the Federation of Austrian Industries (IV) demand appropriate framework conditions for climate-friendly behavior instead of the race for ever higher climate targets. Both Secretary Generals want "climate protection with common sense".

December 10, 2020

International Visitor Leadership Program Celebrates 80th Anniversary

The International Visitor Leadership Program (IVLP), U.S. Department of State’s premier professional exchange program, celebrates its 80th anniversary. The program has opened doors for more than 225,000 participants from all over the globe and has connected current and emerging leaders to US culture and society.

December 9, 2020

Schramböck: Deepening Digitalization in the EU

The EU member states aim to create synergies between national research and investment initiatives and to ensure a coherent European approach with sufficient scope. Joint Support for European electronics value chains will try to establish leading capabilities in various digital competencies.

December 7, 2020

Ryanair to Close its Base in Vienna

The low-cost airline Ryanair will be closing down its base in Vienna. According to a leaked internal report, the parent company of Austrian Laudamotion, will move the base of its three Boeing planes to a not yet disclosed European airport and close down the base on Vienna's airport.

December 4, 2020

Russia's and Austria's Health Minister Discuss Covid-19 Situation

Michail Muraschko, Russia's Minister for Health, and his Austrian counterpart, Rudolf Anschober, met virtually to discuss the ongoing Covid-19 pandemic, which has had far-reaching effects on both countries. As a result of the meeting, the ministers agreed on the establishment of Covid-19 related working groups.

December 4, 2020

New EU Guidelines Relax Air Travelling

The European Centre for Disease Prevention and Control (ECDC) together with the European Aviation Safety Agency (EASA) have issued new guidelines for air travel, which should guide the member states in their respective decisions with regard to Covid-19 measures.

December 3, 2020

Europe-Wide Innovation Award Goes to Wiener Linien

The Europe-wide Innovation in Politics Award 2020 goes to the research project RemiHub, coordinated, among others, by Wiener Linien and the Vienna University of Technology. RemiHub focuses on the urban parcel delivery and was already tested for different delivery services in Vienna.

December 3, 2020

EIB Group Cooperates with Hypo Vorarlberg

The European Investment Bank (EIB) has decided to support Austria's economy by unlocking part of Hypo Vorarlberg's regulatory capital. These funds will be used to invest in energy efficiency projects which are directly in line with the EIB's commitment to increasing its climate action lending.

December 1, 2020

Red Ribbon at Austrian Parliament Draws Attention to World AIDS Day

In order to draw attention to World AIDS Day on December 1, the Austrian Parliament has installed a Red Ribbon on Vienna's Hofburg. National Council President Sobotka points out the recent research, treatment and therapy successes and demands tolerance for and the inclusion of people infected with HIV.

December 1, 2020

Further Increase of Investment Subsidy

The Austrian government has decided to increase its budget for investment subsidies. The high demand for this subsidy by companies located in Austria has exceeded the expectations of the government and is therefore adjusted upwards by another EUR 1 billion in order to further promote investments into digitalization, sustainability and other sectors.

November 30, 2020