Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
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Austrian Economic Policy News and Analysis

EU Growth Forecast: Austria Slightly Over Average

The EU Commission has revised its growth forecast for 2011 slightly upwards. Austria stays at 1.7% in the above average area.

November 30, 2010

Carinthia Strengthens Relations with China

The Carinthian Economic Chamber President, Franz Pacher, has signed a bilateral trade agreement with the Beijing Economic Chamber.

November 29, 2010

OeNB Governor Nowotny Approves of Ireland Protection Measures

The governor of the Austrian National Bank says the decisions on Ireland and the European stability mechanism are positive.

November 29, 2010

Leitl: Finland and Austria Have Much to Learn From Each Other

Finnish ex-Prime Minister Lipponen exposes economic success secrets of his country.

November 29, 2010

Renewable Energy: Great Potential, but Halted by Politicians

The Umweltdachverband (UWD, Environmental Federation) criticizes sharply the energy policy of the Austrian Government. Investments are made mainly in obsolete technologies

November 29, 2010

WIFO: Budget Consolidation in the EU is Not Sustainable

WIFO criticizes the consolidation programs of the individual EU countries for being easily enforceable, but containing hardly any sustainable measures.

November 29, 2010

Government Adapts Capital Gains Tax on Securities

Taxation will be implemented from October 1; loss compensation is allowed. There are no essential changes however.

November 29, 2010

Is the Austrian Industry still competitive?

The chief economist of the Industriellenvereinigung (IV), Christian Helmenstein, draws a sobering picture on the future of the domestic industry.

November 26, 2010

Vienna International Airport: Decisions on Personnel are Postponed

The previously rumored change of leadership at Vienna International Airport is not taking place yet. There is time until mid-December for the board, highly criticized because of Skylink.

November 26, 2010

WKÖ’s Secretary General Advocates for Educational and Administrative Reform

Young people have to be trained practically to meet the challenges of the future. An administrative reform should not be foregone, said Hochhauser.

November 25, 2010

Leitl Vehemently Asks the Government for Structural Reforms

The President of the Austrian Economic Chamber (WK), Christoph Leitl, call on the government for location and future investments.

November 25, 2010

Walter Grahammer Becomes the New Austrian Ambassador in Brussels

Previously, Grahammer acted as Head in the Ministry of Foreign Affairs.

November 24, 2010

Audit Court: Capital Increase for Vienna Airport

The Audit Court criticizes the Board again and advises a capital increase. The personal consequences may be tougher than expected yet.

November 24, 2010

AMS: Temporary Employment Will Continue to Rise

The Chairman of the Board of the AMS (Public Employment Service), Johannes Kopf, believes that the international trend of increasing temporary employment will also take root in Austria.

November 24, 2010

WKÖ Promotes Trade With Developing Countries

The Economic Chamber Austria presents its strategies to strengthen Austrian companies in order to take advantage of business opportunities in developing and emerging countries more effectively.

November 23, 2010

Austria's Energy Consumption Falls

The energy consumption of Austria decreased in 2009 compared with the previous year by 4%. Mainly industry and transport reduced their consumption.

November 23, 2010

Economic Chamber President Leitl Demands Financial Transaction Tax

There is consensus between the Presidents of the Economic Chamber and the Federation of Trade Unions.

November 23, 2010

Solid Growth inTrade Between Austria and the Czech Republic

Exports between the two countries rise by around 20%. Cooperation is to be extended also to research.

November 22, 2010

IHS: Capital Gains Tax on Securities is Absurd

The introduction of the capital gains tax on securities would encourage speculation rather than contain it, says IHS (Institute for Advanced Studies) Director Felderer. Private investors are the victims

November 22, 2010

OECD: Austria's growth until 2012 at 2%

According to the report, the economy is returning back to normal values, but it will have to manage without fiscal stimulus.

November 18, 2010

Study: Agricultural Subsidies Produce No Growth

The Austrian Institute of Economic Research has determined that growth in the Austrian regions is accelerated by EU regional promotional financing, but not by agricultural subsidies.

November 18, 2010

Roche Lays Off 400 Jobs in Styria

The Swiss pharmaceutical group reduces its international workforce by 6%: a setback for the region.

November 18, 2010

Indonesia and Austria Agree to Extend Cooperation

President Fischer officially visited the Islamic Republic Indonesia, which is of the most important future markets of the South Asian region for Austria.

November 17, 2010

Junge Industrie Wien: Explosive Generational Balance Study

Junge Industrie Wien calls for "courageous steps". The credo is future investments instead of transfer payments.

November 17, 2010

Industry Welcomes EU Energy Infrastructure Package

Secretary General of the Federation of Austrian Industrialists, Markus Beyrer: the package is also important to achieve energy and climate objectives.

November 17, 2010

Hoteliers: Threat of Staff Shortage

On one hand, hotel owners are confronted with more vacancies, on the other the seasonal contingent is reduced, so they are calling for the opening of the labor market.

November 17, 2010

GPA: Private Employees Receive 2.2% Salary Increase.

Bigger salaries in trade, crafts and consulting: the negotiators consider this to be a "reasonable result".

November 17, 2010

Procurement: Economy Welcomes Extension

Economic Chamber President Christoph Leitl welcomes the planned extension of the threshold values regulation by one year as an important growth impulse

November 16, 2010

Austria's Exposure in Ireland: 3.4 Billion Euro

Since September 2009, Austrian banks have halved their exposure in Ireland. The most affected countries are the United Kingdom and Germany.

November 15, 2010

High Demand for Minimum Benefit

In the first month after the introduction of the minimum benefit already 14,500 applications have been submitted. A significantly lower demand had been expected.

November 15, 2010

The ÖBB is a Risk Factor for the State Budget

While the investment projects for the ÖBB are being reduced by Transport Minister Doris Bures, a fiasco is threatening on the revenue side.

November 15, 2010

Infrastructure Development: Investing in the Future or Incurring Debt?

While industry competes for sites for the development of infrastructure, legitimate questions are being raised on financial issues.

November 15, 2010

Traffic Expenditures: € 4.3bn less

As a consequence of the new budget, public infrastructure projects are being reduced considerably. Postponed projects and low-cost alternatives will save money.

November 12, 2010

Wind Energy: Vendors Pressed for Time

Promotion for Austrian wind energy expires in 2012. The industry has only recently been able to set up new facilities.

November 12, 2010

It is Official: Coalition Between SPÖ and Greens in Vienna

Vassilakou becomes Deputy Mayor under Häupl. The program aims to have a recognizable green handwriting.

November 12, 2010

Linz AG: Pause After Investment Offensive

The municipal company recorded extraordinary high capital expenses in 2009. The next projects are still in the planning phase.

November 11, 2010

Telekom Srbija: Sale is Resisted

The partially for sale Telekom Srbija which Telekom Austria is said to be interested in, raises passions in Serbia. Opposition to the sale is taking shape.

November 11, 2010

Standard & Poor’s: Austria's Credit Rating at Risk

The reasons for such gloomy prospects are not problems with the banks or domestic companies, but rather the demographic situation threaten Austria's credit rating.

November 11, 2010

Strabag: Major Contract in Romania for 220 Million Euro

A consortium led by Austria's Strabag has won a contract to build a Romanian motorway for 220.6 million euro.

November 11, 2010

Leitl: Austrians Go into Retirement Too Early

Those who go into early retirement in Austria are rewarded. The government should create more incentives to retire later on in life.

November 10, 2010

Sharp decline in Creation of New Foundations

In particular, legal uncertainty and abolished tax advantages cause the creation of fewer foundations in Austria.

November 10, 2010

Austerity Package: Resistance from the Federal Provinces

While cries for savings are getting louder in the provinces, declarations of both consensus and objections come from the provincial capital cities

November 8, 2010

Metal Workers: Up to 3% Wage Increase

Workers in the metal industry receive a strong wage increase. The minimum wage rises by 2.5%.

November 8, 2010

Umweltdachverband: Electricity Industry Power Plant List is Utopian!

Energy projects are unrealistic, alternatives have been ignored and the environment is neglected completely, according to the accusations.

November 8, 2010

Bank Boss Confirms: Bank Tax will be Passed on to Customers

Massive criticism of the federal government is also coming now from the boss of Raiffeisen Zentralbank (RZB). Bank customers will have to bear both the bank tax and the securities tax.

November 8, 2010

Bank Tax: Constitutional Concerns

Banks are to contribute a fixed tax amount based on the values given for 2010 for three years. Constitutional jurists consider this modus operandi as "highly questionable".

November 8, 2010

Union: Call After 40 weeks of Work per Year

The Union of Salaried Employees (GPA) presents a new working model.

November 5, 2010

Vienna: Negotiations Between the SPÖ and the Greens Almost Concluded

The last major points are budget issues. Both sides are however optimistic of reaching an agreement.

November 5, 2010

Energy Industry: Tough Start for Expansion

The domestic energy industry has numerous plans to expand capacity. However, political will is containing them.

November 5, 2010

Trichet Succession: The Austrian Nowotny Has Chances As Outsider

The European Central Bank (ECB) will appoint a new president in November 2011. The favorites are the German Axel Weber and the Italian Mario Draghi. But Nowotny has outsider chances.

November 5, 2010