Vienna International Company News
Read the latest headlines about developments in international organizations, companies and institutions operating in Vienna, Austria
Vienna International Airport Hub With Newly Designed Terminal 2
The long-awaited Terminal 2 has finally reopened. After 2 years of renovation, it is finally available for passengers again. This is urgently necessary, because after the many years of the Corona pandemic, the airport management expects a significant increase in tourist numbers and accordingly more traffic at the airport Vienna-Schwechat.
March 30, 2022
Real Estate in Austria: Highest Annual Increase in Purchase Prices of Houses and Apartments Since Records Began
Prices on the Austrian residential real estate market show a year-on-year price increase of 12.3% for 2021. This is the highest annual increase since the index series began in 2010 and is significantly higher than in previous years.
March 29, 2022
Ukraine Nuclear Power Plants Still Under Control of Russian Forces But Safety Systems Fully Functional IAEA Says
Ukraine's Nuclear Power Plants Zaporizhzhya and Chernobyl are still under Russian control, but regulator said, that the Ukrainian staff continued to operate the plants. In the case of the Chernobyl Nuclear Power Plant, staff have not been able to rotate for more than three weeks.
March 18, 2022
Austria's Raiffeisen Bank Now Considering Russia and Ukraine Exit After All
Raiffeisen Bank International is considering withdrawing from Russia. The enormous civil suffering in Ukraine caused by Russia's war of aggression had led the management to this decision. This step is not taken easy, since Russia counts as one of the key areas of the Austrian bank.
March 18, 2022
Arab Chambers' Day at Austrian Pavilion at Expo Dubai
The event "Arab Chambers' Day" at the Austrian Pavilion at Expo Dubai 2020 will provide an opportunity for Emirati, Arab and Austrian delegates to meet and become acquainted with leading Austrian companies. Find out more about the event.
March 18, 2022
Putin's War Forces OMV to Make Most Fundamental Strategic Shift in Its History
Russia's aggression toward Ukraine is forcing OMV, the Austrian oil, gas and petrochemical group to take drastic measures. The company's management decided to stop all investment activities in Russia and to rely on alternative suppliers in the future. OMV thus joins many other companies that are slowly turning their backs on the Russian market.
March 17, 2022
Russian Operations of Strabag: Haselsteiner Cancels Syndicate Agreement with Holding Company of Oligarch Oleg Deripaska
Recently, the Haselsteiner Family Private Foundation informed the Strabag Board of Directors that it has terminated a syndicate agreement between the main shareholders. Previously, several attempts to buy up all the shares of the major Russian investor Oleg Deripaska failed.
March 15, 2022
OMV Subsidiary Borealis Declines Offer from Russia’s EuroChem for Fertilizer Business
The planned sale of the Linz-based fertilizer division of OMV chemicals subsidiary Borealis to Russian-Swiss group EuroChem has been canceled. According to a press release, Borealis has decided to reject EuroChem's offer.
March 14, 2022
Energy Supply: Liquefied Natural Gas from Qatar, Instead of Pipeline Gas from Russia
Chancellor Nehammer visited the United Arab Emirates (UAE) and Qatar with the intention of lessening Austria's dependency on Russian natural gas for energy. Read about the chancellor's visit and how liquefied natural gas could help solve this issue.
March 11, 2022
How Russian State-Controlled Media Use Disinformation Campaigns to Influence Democratic Processes in Austria and Beyond
Russia uses its state-controlled media outlets to help push disinformation campaigns in Austria and around the world. Read how the Kremlin spreads disinformation through the media.
March 9, 2022
How Gazprom Helps the Kremlin to Manipulate Austria
The Russian government uses the majority state-owned energy corporation Gazprom to exploit Europe's dependency on Russian natural gas, and Austria is no exception. Read how the Kremlin uses Gazprom to influence Austria.
March 8, 2022
Asset Management: Impact of the Russian Invasion of Ukraine on Stock Markets
By invading Ukraine, Russia has created a humanitarian crisis. At a time when heart-wrenching news footage reminds us daily that innocent people are losing their lives, discussing the market implications of such devastation can feel unseemly. The most important thing investors can do during a crisis is to simply not panic. Stock market history supports this assertion. The author examined the major geopolitical events since World War II and found that on average the Dow Jones Industrial Average was 16.40% higher 1 year later and 32.7% higher 2 years later.
March 8, 2022
Asset Management: The Consequences of the Russian Attack for Markets and the Economy
War has broken out. The markets had been in a state of tense calm over the last few days leading up to the invasion, after the continuous threats from Russia that provoked the first sanctions by the United States and Europe, but the attacks that began last week have sent shockwaves across almost all asset classes. In this context, what should investors do?
March 2, 2022
Russia's Sberbank with European Headquarters in Vienna under Pressure
The Austrian Financial Market Authority (FMA) has announced a moratorium on Sberbank Europe AG, a European subsidiary of the Russian state-owned Sberbank. Read what this means for Sberbank Europe and its customers.
February 28, 2022
Russo-Ukrainian War: First Effects of Western Sanctions on Russian Economy
The Russian economy is already beginning to feel the effects of the Western sanctions for its invasion of Ukraine. Read what effects the sanctions are having on the economy.
February 28, 2022
A Norwegian in Vienna: Edvard Munch at the Albertina 2022
The Albertina has opened a new exhibition centered around Norwegian artist Edvard Munch entitled “Edvard Munch. In Dialogue.” Read about the new exhibition, view some sample works, and watch the virtual opening of the exhibit.
February 25, 2022
Putin's People in Austria and Beyond
Following Putin's invasion of eastern Ukraine with the aim of regaining former Soviet territory, two former European prime ministers from Italy and Finland have already resigned from the supervisory boards of two Russian companies. However, some Austrian and German politicians see no reason to resign their mandates. In the following some explanations why.
February 25, 2022 · Updated: February 25, 2022; 11:23
"Milky Way in the Salzkammergut" Photo Wins Sony World Photography Award 2022
An amateur photographer from Vienna won the Sony World Photography Award 2022 for Austria. Read more about the talented young photographer and see her incredible photo of the Milky Way in the Salzkammergut.
February 24, 2022
First Novavax COVID Vaccine Shipment has Arrived in Austria
The first shipment of the Novavax COVID-19 vaccine, Nuvaxovid, has finally arrived in Austria. Read about the much-anticipated distribution of the new vaccine and why the government thinks it will help convince some vaccine skeptics.
February 24, 2022
Continued Strong Interdependence of Business between Russian, Ukrainian and Austrian Companies
Austrian businesses have established significant ties with those in Ukraine and Russia over the years. Read about the amount of business Austria does with each country and how the recent escalation of tensions could affect this.
February 23, 2022
OSCE Representative Calls on President Zelensky to Drop Sanctions Against Media in Ukraine
OSCE Representative on Freedom of the Media Teresa Ribeiro reiterated her concern regarding Ukraine’s practice of applying sanctions against media outlets.
February 23, 2022
Austria's Reaction to Putin's Disrespect for the Territorial Integrity and Sovereignty of Eastern Ukraine
Following President Putin's decision to recognize the independence of Luhansk and Donetsk in the Donbas region of Ukraine and to send "peacekeeping troops" to these areas, the Austrian government's Crisis Cabinet met to discuss how to respond. Read what Chancellor Nehammer said about the act of Russian aggression and what Austria will do.
February 22, 2022
Sony DADC Austria AG Tightens Production Program
The decline in the production program of optical storage media (CDs and DVDs) forces Sony DADC Austria to terminate and redeploy towards BioSciences and digital services.
February 22, 2022
Vienna's Mayor Ludwig: "Pandemic has not yet been mastered"
Mayor Ludwig announced that Vienna will keep some of the COVID-19 measures in place despite the federal government lifting many of them. Read which measures still apply in Vienna and what the mayor and health experts said about it.
February 21, 2022
Indian Edtech Giant Byju's Acquires Austrian Math App GeoGebra in €100 Million Deal
India's most valuable startup Byju's is buying Linz-based Geogebra, it has now been announced. Neither company disclosed the purchase price, but insiders say the deal is worth about 100 million euros and includes both cash and stock.
February 21, 2022
Naturalizations in Austria on the Rise Again Due to Descendants of Nazi Victims
Naturalizations in Austria are on the rise again, mainly due to the large number of descendants of victims of nazi persecution who applied for citizenship thanks to the amendment to Austria's Citizenship Act. Read more about this increase in naturalizations.
February 17, 2022
Austria's Population will Exceed Nine Million this Year
Austria's population is nearing nine million and should reach this mark sometime in 2022. Read more about Austria's recent population increase.
February 16, 2022
Chamber of Commerce Massively Criticizes New Parking System in Vienna
As of March 1, 2022, comprehensive and contiguous short-term parking zones will be introduced in every Viennese district, as well as the parking permit ("Parkpickerl") for the respective district residents. The price and parking duration will be standardized for all districts. For private car owners as well as for entrepreneurs this regulation brings considerable additional costs and new problems.
February 16, 2022
FDI in Austria: ABA Location Agency Serves 364 International Companies
The annual results from the Austrian Business Agency (ABA) show that its location agency serves 364 international companies. Read more about the ABA's annual results and how the agency is helping companies settle into Austria.
February 15, 2022
Viennese Museum Returns Looted Colonial Artifacts to the USA
The Natural History Museum in Vienna is returning looted items from the colonial era to the United States. Read more about the two artifacts and why they are being returned.
February 14, 2022
Disinformation and Propaganda: How Russia Reverses Reports of International Media
The Russian Foreign Ministry has claimed that Western media is spreading disinformation to unfairly paint Russia as an aggressor towards Ukraine. Read how Russia manipulates Western media sources to create its own narrative.
February 14, 2022
Ukraine Crisis: Potential Impact of Russian Invasion on Ukrainian, Russian and EU Economies
The solution of the Russian aggression and violation of rights towards Ukraine, is of central importance for the world we want to live in. The Vienna Institute for International Economic Studies (WIIW) conducted a study on the potential economic impacts of a Russian invasion of Ukraine. Read their prediction for how an invasion would affect the economies of the EU, Russia, and Ukraine.
February 8, 2022 · Updated: February 11, 2022; 08:35
TTTech Auto Becomes USD-Unicorn in Automotive Technology
By raising an additional EUR 250 million from Aptiv and EUR 50 million from Audi in its latest funding round, TTTech Auto will be enabled to expand its product portfolio for automotive manufacturers and technology partners, to expand internationally in key regions and to extend its capabilities through strategic M&A and product investments.
February 10, 2022
Marina Tower: Completion of the Highest Residential Tower in Vienna
The highest residential tower in Vienna with 140 meters and 41 floors is successfully completed in these days.
February 10, 2022
Combating Violence Against Women: New Silent Emergency Call App Available From March
The Austrian government has introduced a new app to help counter the alarming trend of increased domestic violence against women. Read about the new app and other steps the government is taking to prevent violence against women.
February 10, 2022
Huawei's 5G Network Technology in Austria: Systemic Rival at the Gate to Europe
While all eyes in Europe are focused on the Russia-Ukraine side conflict, the true war is raging elsewhere, namely in network technology between China and the West. This technology war is about nothing less than the global security-technological leadership role of the next decades, and thus about the decisive question of whether the Western democratic world order can assert itself or whether the Chinese authoritarian system with totalitarian surveillance will prevail. Due to its relative weakness, Austria plays an important and central key role in this process. While most Western countries are increasingly and decidedly resisting the deployment of the 5G network infrastructure largely supplied by Huawei and ZTE - which are intricately owned and substantially controlled by the Chinese Communist Party - there are quite a few telecom providers in Austria who are using and even expanding this technology, primarily because their economic survival is already dependent on this technology, and secondly because the Austrian state is largely toothless and ignorant in the face of the push by the Chinese equipment suppliers and their lobbyists.
February 9, 2022 · Updated: February 9, 2022; 21:56
Vienna is Becoming the Start-up Capital of Austria
Vienna's start-ups generated an added value of 3.9 billion euros in 2021, making it the most popular place in Austria for start-ups. Read more about the start-up environment in Vienna and what it has done for the Austrian economy.
February 9, 2022
New World Museum Vienna Exhibition: "Re:Present - Unlearning Racism"
The World Museum Vienna is displaying a new exhibition entitled "Re:Present - Unlearning Racism" during Black History Month. Read about the new exhibition and view some sample pieces from the exhibit.
February 9, 2022
Putin's Propaganda TV-Channel Tries to Expand to Austria
An attempt to supply an Austrian target group with German-language propaganda from Berlin will apparently fall victim to the media war between the two state broadcasters Russia Today (RT) in Berlin and Deutsche Welle (DW) in Moscow.
February 9, 2022
Economics Minister Schramböck Calls EU Chips Act "An opportunity for Europe"
The European Commission has unveiled its draft for the European Chips Act. Read about the Chips Act and why Economics Minister Schramböck called it "an opportunity for Europe."
February 8, 2022
EXPO 2020 Dubai: Extraordinary Austria Pavilion Wins Multiple Awards
The Austria Pavilion at EXPO 2020 Dubai has now won yet another award. Read about the multiple awards the pavilion has won and why it is receiving so much recognition.
February 8, 2022
IAEA to Assess Safety of Japan Dumping Fukushima's Radioactive Cooling Water into Sea
A team of experts from the International Atomic Energy Agency (IAEA) will go to Japan to conduct a review of the safety of the Japanese government's decision to dump radioactive cooling water from the Fukushima Daiichi Nuclear Power Station into the ocean. Read about the review and who opposes Japan's decision.
February 7, 2022
Lunar New Year 2022: Austria's Chinese Community Welcomes the Year of the Tiger
People around the world recently celebrated the ushering in of the Year of the Tiger. Read more about the Lunar New Year, one of the most important Chinese holidays.
February 3, 2022
Austria Promises Legal Action After EU Commission's Nuclear Energy Decision
Austria has vowed to take legal action against the European Commission after it decided to include nuclear energy and natural gas as sustainable investments under the EU Taxonomy Regulation. Read what the Austrian president, chancellor, and climate minister said about this decision.
February 3, 2022
French Ambassador to Austria: Positions on Migration, EU-Balkan Enlargement and Nuclear Energy Incompatible
Ambassador Gilles Pécout presented France's Presidency program to the EU Committee of the Austrian Federal Council (Bundesrat). Pécout also mentioned challenges of the French Council Presidency, especially in points where Austria has a different position. The tensions between France and Austria regarding the different positions on nuclear energy, migration and EU enlargement are respected but currently remain unresolved.
February 3, 2022
Ai Weiwei at the Albertina Modern: "In Search of Humanity"
A new exhibition at the Albertina Modern entitled "In Search of Humanity" will display works by renowned Chinese artist and activist Ai Weiwei. Learn more about the new exhibition and see some of the pieces that will be on display.
February 2, 2022
Armenia and Austria Strengthen Bilateral Ties
Foreign Minister Schallenberg is visiting Armenia in an attempt to strengthen bilateral ties. Read about Austrian-Armenian relations and Schallenberg's trip, which includes meetings with Armenian Prime Minister Nikol Pashinyan and Foreign Minister Ararat Mirzoyan.
February 2, 2022
Opec and Non-OPEC Members Agree Further Gradual Increase in Oil Production
At the 25th OPEC and non-OPEC Ministerial Meeting (ONOMM), the oil-producing countries decided upon a gradual increase in oil production for March. Read about this and the other decisions made at the meeting.
February 2, 2022
Economic Outlook for Austria until 2024
Strong economic rebound amid high uncertainty about impact of Covid-Omicron variant. Find out what the economic future holds for Austria until 2024.
February 2, 2022
Official State Visit of the King and Queen of Spain to Austria
King Felipe VI and Queen Letizia of Spain were in Austria on an official state visit. The royal couple was received by President Van der Bellen at the Hofburg in Vienna. Read about their visit and the opening of the new Salvador Dali exhibition at Belvedere.
February 1, 2022
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