Sponsored Content
Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
Call for Structural Reform of Social Policy
The Federation of Austrian Industries reaffirms the high non-wage labor costs and intends to raise efficiencies in the health sector. The retirement age would be too low.
April 12, 2012
Austrian Industry Underlines Importance of „South Axis“
According to a recent study, the Southern Railway (Südbahn) creates 15,000 new jobs. The value creation totals € 15.5bn.
April 12, 2012
Health Insurances Reduce Debts
Over the last three years, Austrian health insurance institutes could cut debts by € 1.0bn, which is substantially more than expected.
April 12, 2012
Psychic Diseases: Costs of € 3.3bn
The number of staff away sick in Austria rose by 100% since 1995.
April 11, 2012
Tax Treaty with Switzerland Close to be Finished
Austria aims for reach a tax agreement with Switzerland in order to tax illegal funds deposited by Austrian nationals at Swiss banks. An agreement seems to be within reach.
April 11, 2012
Nowotny Ask For Alternative to Financial Transaction Tax
The governor of the Austrian Central Bank (OeNB) sees a good sign in Austria´s low interest rate on sovereign bonds. The introduction of a European financial transaction tax is unrealistic, the governor says.
April 11, 2012
Where is Austria´s Gold?
The major part of Austria´s gold reserves should be located in the U.S. The Austrian Central Bank does not answer any questions.
April 10, 2012
Financial Transaction Tax: Schieder Raises Pressure on EU
Austria´s Financial State Secretary Andreas Schieder threatens to vote against higher EU contributions. To discuss about alternatives of the financial transaction tax is “too early.”
April 10, 2012
Failed Austerity Package: „Austrian Rating Not Affected“
Bernhard Felderer, director of IHS (Institute of Advanced Studies) thinks that the incomplete austerity package has no effect on Austria´s prospects to return to the Triple-A status.
April 7, 2012
„Natural Gas to Become Most Important Energy Source“
Gerhard Roiss, CEO of the Austrian oil and gas group OMV pushes the EU to recognize the importance of natural gas.
April 7, 2012
Austria Rejects Bank Bonds of Southern Euro-Members
The Austrian Central Bank will join Germany’s Bundesbank in rejecting as collateral bank bonds guaranteed by member states receiving aid from the European Union and the International Monetary Fund.
April 4, 2012
Kyoto Protocol: Austria Spends € 160m
Austria will invest € 160m ($213.4 million) in climate protection projects in Europe to cover the gap it faces to meet commitments under the Kyoto Protocol, Environment Minister Niki Berlakovich said.
April 4, 2012
Austria Must Underline its Headquarter Function
Austria as hub for CEE markets is still popular. Nevertheless, there is a lack in a sustainable and flexible strategy. The geographical proximity to CEE countries is insufficient.
April 2, 2012
Euro-Group: Fekter Presses Ahead
Jean-Claude Juncker, head of the euro-group is angry at the Austrian Minister of Finance, Maria Fekter, who presented the summits´ results before Juncker´s press conference.
March 31, 2012
Economic Upswing for Austria?
The economic research institutes IHS and WIFO anticipate that the Austrian economy accelerates by summer 2012. Both warn of “too much euphoria”, however.
March 29, 2012
Swiss Tax Treaty: Austria Under Pressure
The Austrian Minister of Finance is optimistic to conclude the Swiss tax deal by 2013. Proceeds of € 1.0bn are expected.
March 28, 2012
Romania Plans Further Privatizations
Above all, a sale of the minority stake in the oil company Petrom could bring up to $ 600m. The Austrian OMV, which is the majority owner of Petrom, could be interested.
March 27, 2012
Austria Insists on Financial Transaction Tax
Despite Germany’s finance minister sees little chance of a European Union agreement on the levy, Austria is sticking to plans for a financial-transaction tax in Europe to help consolidate its budget.
March 27, 2012
Vienna Stock Exchange Calls for New Listings
Birgit Kuras, the new member of VSE´s management board aims to enhance the stock exchange´s importance and pushes for further privatizations.
March 27, 2012
EU Financial Framework Negotiations Enter the Hot Phase
State Secretary Wolfgang Waldner underlines Austria´s position as net contributor at the General Affairs Council in Brussels.
March 27, 2012
Asfinag to Cut Costs by € 2.8bn
The Austrian highway funding company wants to reduce construction costs by € 2.8bn over the next five years.
March 26, 2012
Keuschnigg: „Greece Must Leave Eurozone“
The Austrian Economist and designated director of HIS, Christian Keuschnigg advised Greece to leave the euro zone.
March 26, 2012
Koren to Become VBAG´s New CEO?
Finance Minister Maria Fekter aims to nominate the former Vice-CEO of Bawag as board director of VBAG.
March 24, 2012
Municipalities: Indebtedness Per Capita on the Rise
According to the Austrian audit court, indebtedness of municipalities was up significantly over the last years.
March 24, 2012
Bulgaria: Massive Penalty at OMV Subsidiary Threatens
Bulgaria´s Minister of Transport claims the maximum penalty for OMV´s subsidiary, which would reach up to € 1.0bn.
March 24, 2012
Rothensteiner Against Bank Insolvencies
Raiffeisen Zentralbank´s CEO Walter Rothensteiner is against the discussion about bank insolvencies.
March 24, 2012
RBI: Günther Gall Appointed Vice-Chairman of EPC
The Austrian national Günther Gall of Raiffeisen Bank International AG (RBI) was elected vice president of the European Payments Council (EPC).
March 23, 2012
2,000 New Jobs Created by Foreign Enterprises
The Austrian Chamber of Commerce stressed the importance of foreign direct investment in Vienna. Last year, 126 foreign enterprises came to Vienna.
March 22, 2012
Voestalpine to Invest € 500m at Main Site
The Austrian steel company builds a new strand casting house. Voestalpine warns of excessive greenhouse gas regulations.
March 22, 2012
Nowotny: “Portugal in Much Better Shape Than Greece”
The Governor of the Austrian Central Bank (OeNB) and ECB Council Member Ewald Nowotny is optimistic on Portugal´s medium-term prospects. The country faces much less liquidity constraints than Greece.
March 21, 2012
Meeting between Saudi Monarchy and Austrian Embassy
The Austrian ambassador presented Investment opportunities to Saudia Arabia´s Prince Alwaleed.
March 20, 2012
Romanian President Again Critisized OMV´s Petrom
Romanian president Traian Basescu in television again emphasized that he cut ties with largest Romanian company OMV Petrom on ‘incorrect’, high profit-making policy.
March 20, 2012
Telekom Austria: Pecik Denies Sales Talks
The Austrian investor Ronny Pecik is said to have had sales talks with China Mobile. Pecik reaffirms to remain at Telekom Austria as “long-term investor”.
March 19, 2012
Austria Underlines South Tyrol´s Autonomy
Austrian State Secretary Wolfgang Waldner on working visit in South Tyrol. Austria suggests an “Alpine Strategy”.
March 19, 2012
“The Czech Republic Has Traditionally Been an Important Partner for Austria”
Austrian State Secretary Waldner meets Czech EU State Secretary Belling.
March 19, 2012
Tax Agreement with Switzerland May Be Postponed
The plans of the Austrian government to conclude a tax agreement with Switzerland soon is unlikely. For the budget, this could cause a loss of revenues.
March 17, 2012
Austrian Government Holds on Financial Transaction Tax
In spite of discordance at the EU-level, the Austrian government is convinced to impose taxes on financial transactions by 2014.
March 17, 2012
Bulgaria Suspects OMV, Lukoil, Rompetrol of Price Fixing
Bulgaria’s antitrust regulator said four fuel retailers including the Bulgarian units of OMV AG of Austria, OAO Lukoil , Russian oil producer, Rompetrol Rafinare SA and Petrol AD are suspected of being involved in price fixing.
March 17, 2012
Corruption: Costs of € 27bn for Austrian Economy
Experts say that corruption increases in Austria. In 2012, adverse effects of € 27bn are expected.
March 16, 2012
Doubt About Austerity Package
Austria´s Finance Minister Fekter had to defend the government´s austerity package again. Experts are in doubt about the successful implementation.
March 15, 2012
Press Freedom under Threat in Austria
IPI Alarmed at Justice Ministry Attempt to Undermine Confidentiality of Sources.
March 14, 2012
No Credit Crunch in CEE
Western European banks maintain the liquidity of their subsidiaries in Central and Eastern Europe. The equity provision is better than expected.
March 14, 2012
Austria Is Concerned About UK´s Human Rights Reform
UK´s Prime Minister David Cameron intends to reform the European Court of Human Rights. Austria said it had “serious concerns” about his ideas.
March 14, 2012
Austrian Supervisory Authority Published Guideline For Banks
The Austrian Financial Market Authority (FMA) has published a supervisory guideline to strengthen the sustainability of the business models of large internationally active Austrian banks.
March 14, 2012
Basescu Criticizes OMV Sharply
The Romanian President Traian Basescu is deeply disappointed of the Austrian oil and gas company OMV. The Romanian subsidiary “made too much profits”, Basescu says.
March 13, 2012
Austria Wants More Leeway for Hungarian Budget
The Austrian Minister of Finance Maria Fekter criticizes the EU. Hungary is not treated equally, Fekter says.
March 13, 2012
KA Finanz: Disaster Was Avoidable
The „bad bank“ of the nationalized bank Kommunalkredit considered selling Greek sovereign bonds in spring 2009. Last week, KA Finanz wrote off € 423m.
March 12, 2012
Nowotny: Capital Shortfall at Hypo Group „Substantially Less Than € 10bn”
The governor of the Austrian Central Bank (OeNB) repulses reports stating that the nationalized bank Hypo Group needs capital injections of € 10bn.
March 10, 2012
Hypo Group: Costs Could Increase up to € 10bn
The nationalized Hypo Group Alpe Adria may need massive capital injections by the Austrian state. The bank must downsize radically.
March 10, 2012
Wirtschaftsbund: Leitl Re-Elected
Christoph Leitl, President of the Austrian Chamber of Commerce, has been re-elected as chairman of Wirtschaftsbund. 92.7% of the delegates voted for Leitl.
March 10, 2012
Fast News Search
This category only
