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Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
EBRD Provides €20 Mio Loan to Slovakia for Sustainable Energy Projects
The EBRD is deepening its support for sustainable energy investments in the Slovak Republic with a €20m loan to Slovenska Sporitelna, a.s. (SLSP), one of the country’s leading banks. The funds will be on-lent to private companies for renewable energy projects and energy efficiency in industry and buildings.
June 16, 2014
EBRD Committed to Moldova as the Country Moves Towards Greater Regional Integration
“The European Bank for Reconstruction and Development (EBRD) stands ready to support Moldovan companies and foreign investors in Moldova as the country moves towards even greater regional integration,” said András Simor, EBRD Vice President for Policy, during his visit to Chisinau.
June 14, 2014
Hanna Kordik Awarded the Prize for Outstanding Economic Journalism
Hanna Kordik was awarded the prestigious Horst Knapp Prize in a ceremony. The eulogy was delivered by Ewald Nowotny, Governor of Oesterreichische Nationalbank, in his capacity as chairman of an independent jury. The speaker at the award ceremony was the industrialist Hannes Androsch.
June 10, 2014
Vienna: Former Kazakh Ambassador to Austria has been Arrested
Rakhat Aliyev, ex-son-in-law of Kazakhstan's President Nursultan Nazarbayev, has been arrested in Vienna. Aliyev, who has been convicted in absentia in Kazakhstan on charges ranging from kidnapping and embezzlement to plotting a coup against Nazarbayev, has been detained because of a murder investigation against him, which has been opened in 2011.
June 7, 2014
Austria's Foreign Policy on the Western Balkans
Due to centuries of political, cultural and economic interrelations, Austrian foreign policy has always attached particular importance to the Balkans. The prime goal of Austrian foreign policy is to support the transformation of the Western Balkans into a zone of stability.
June 4, 2014
The Challenge of Turkish Migration to Austria
Two events highlight and discuss the problems and challenges of Turkish migration to Austria.
June 4, 2014
Foreign Ministry: "Freedom of Religion in Austria"
The first meeting of the Interreligious Dialogue Platform at the Austrian Ministry for Europe, Integration and Foreign Affairs took place. Integration Minister launches an initiative for dialogue with recognised churches and religious communities in Austria.
June 3, 2014
TTIP-Myths and Realities According to AmCham Austria
The American Chamber of Commerce in Austria (AmCham Austria) promotes the expansion and strengthening of trade and commerce relations between Austria and the US. Talks on a future EU-US trade deal started in July 2013 and are set to continue throughout 2014. The talks are part of a trade and investment deal, known as the Transatlantic Trade and Investment Partnership, or TTIP.
June 3, 2014
Sevelda: “Russia Still Crucial Market”
In the light of the close ties with regard to economic and energy relations with Russia Karl Sevelda, CEO of Raiffeisen Bank International (RBI) warns about the tightening of penalties against Russia.
May 23, 2014
Only 3 Austrian Delegates at the St. Petersburg International Economic Forum 2014
Thousands of economic experts, businessmen and policymakers are currently in Russia's northern capital St. Petersburg for the 18th annual investment forum. Less foreigners are attend this year, as CEOs have bowed to political pressure to cancel.
May 23, 2014
Hypo Alpe Adria Appoints New Supervisory Board
At an Extraordinary General Meeting of Hypo Alpe Adria International on Friday, a new Supervisory Board was appointed.
May 23, 2014
High Potential for Austrian Investments in Moldova
Austria is one of the most active countries in the CESEE region ranking first in foreign direct investments (FDI) in many countries.
May 22, 2014 · Updated: May 22, 2014; 13:05
Austrian Oberbank Shines in Hungary
Austrian Oberbank bucks the trend of terminating business activity in Hungary. Instead, the financial institute plans on growing in one of the most difficult markets in Europe.
May 22, 2014
Gas Deal: China to Invest $22Bln, Russia to Invest $55Bln
Russia’s overall investment on delivering gas to China is $55 billion and China’s investment is estimated at around $22 billion according to a contract signed by the two countries in Shanghai, Russian President Vladimir Putin said Wednesday.
May 21, 2014
Exporttag: Meet All Austrian Trade Delegates at the Export Day 2014
On June 24, the Export Day (Exporttag) of the Austrian Chamber of Commerce (WKO) will take place in Vienna. Economic delegates from all over the world will be present.
May 20, 2014
“Romania Can Never Become the China of Europe”
Stabilization in Central and Eastern Europe (CEE) is becoming stronger. However, the political crisis in Ukraine is causing a feeling of insecurity among the population.
May 15, 2014
Raids at Romanian Affiliate of VIG
A number of business locations of Omniasig, the Romanian affiliate of Austrian insurer VIG, were searched by the police. Several employees are accused of forgergy and abuse of authority.
May 14, 2014
Czech Republic: Rosatom to Complete Temelin?
Russian State Atomic Energy Corporation Rosatom presented an offer to complete the units of the Czech nuclear power plant Temelin.
May 12, 2014
Nexans to Build Plant in Bulgaria
According to the Bulgarian Economy Ministry, French cable car constructor Nexans will establish a plant employing 600 persons.
May 12, 2014
World Bank Approves Health Loan to Croatia
The Croatian government will use the World Bank’s funds for a national health program.
May 9, 2014
CEZ Bulgaria in “Full Compliance with the Law”
CEZ, along with other foreign utilities in Bulgaria, does not regard itself being obliged to pay a certain amount to state-controlled utility NEK.
May 9, 2014
Fiat Intensifies Investments in Poland
As reported by Polish daily Puls Biznescu, Italian automotive manufacturer Fiat plans on lauching the production of a new series, similar to the so-called Punto.
May 9, 2014
MOL: Oil Supply to Hungary not Endangered
According to Hungarian oil and gas enterprise MOL, the supply to Hungary is not endangered by the delivery stop of Russian oild products passing through Ukraine.
May 9, 2014
Sanction Imposed on Expobank
Russian-Latvian Expobank was added to the Canada’s black list.
May 9, 2014
Calls for European Energy Union Become Louder
Polish PM Tusk called for a European energy union. His Hungarian counterpart supports the idea.
May 9, 2014
Wesner: “Failing in Business Does Not Mean Personal Failure”
The start-up culture in Austria is clearly different than the one in the US. On the occation of the May Day, experts, including US ambassador to Austria Alexa Wesner, talked about the differences in the start-up scenes.
May 8, 2014
Verbund: Trying to Get Rid of Sorgenia
The Austrian utility Verbund announced not being willing to invest any further money into loss-making Italian energy group Sorgenia.
May 8, 2014
Prime Minister Edi Rama: Albania’s European Renaissance
Edi Rama, Prime Minister of Albania since 2013 is going to address the Bruno Kreisky Forum in Vienna.
May 8, 2014
Austria: Mitsubishi Takes Over Majority Stake in Siemens‘ VAI
The industrial systems subsidiary of Siemens, VAI with the business location in Linz, is sold to Japanese competitor Mitsubishi Heavy Industries (MHI).
May 7, 2014
EU Council Trying to Find a Way Out of Ukraine Crisis
Ahead of the European Council, which is currently taking place in Vienna under the Austrian presidency, Foreign Minister Sebastian Kurz declared not to expect a solution for the conflict in Ukraine.
May 6, 2014
Pewag Striving for Larger Market Share in US
The Austrian snow chain manufacturer appreciates the label “Made in USA”.
May 6, 2014
Vranitzky: Joining EU One of the Most Courageous Steps
A symposium showed the EU Accession process of Austria in the early 1990’s in a new light.
May 6, 2014
“US Rolls Out Red Carpet for Austrian Industrial Enterprises”
Potential Austrian investors are attracted with many incentives such as low energy costs, few bureaucratical hurdles and excellent infrastructure.
May 5, 2014 · Updated: May 6, 2014; 13:25
Agenda Austria 2020: Economy = State
The think tank Agenda Austria 2020 is currently tackling the question what the “economy expects from the state”.
May 5, 2014
Federation of Industries: “Industrial Compact“ for European Competitiveness
The Austrian Federation of Industries (IV) considers the EU entry of Austria as the basis of prosperty and economic growth in the past years. However, now reforms are required to catch up to a global level.
May 5, 2014
Slovenia: Bratusek Remains PM for Time Being
The date of the early elections in Slovenia will be determined this weekend.
May 3, 2014
Hypo Group: Shady Deals with Balkan Diplomats
The Austrian problem bank Hypo Group has troubles recovering debts.
May 3, 2014
Bank Austria: “Russia is Still Profitable”
According to Vice CEO of Bank Austria and head of business operations in CEE Gianni Franco Papa, business in Russia is not yet affected by the political crisis in Crimea.
May 2, 2014
Slovenian Banka Celje Needs Further State Aids
Because of the failed capital increase in the amount of € 160m, Banka Celje is requiring further state capital.
May 2, 2014
Austria: Hypo Group Investigation Committee to be Established?
Will the Austrian government soon give in to establishing an investigation committee for problem bank Hypo Group?
May 2, 2014
Fitch Upgrades Rating for Slovenia
Fitch Ratings has revised the Outlook on Slovenia's Long-term foreign and local currency Issuer Default Ratings (IDR) to Stable from Negative and affirmed the IDRs at 'BBB+'.
May 2, 2014
New Serbian Government Wants Speedy EU Accession
The new Serbian government is determined to accelerate the EU accession progress.
May 2, 2014
Majority of Czech Entrepreneurs Want Euro
According to a survey, more than three quarters of Czech entrepreneurs are in favor of the country adopting the Euro.
April 30, 2014
Austria Gives up Bank Secret for United States
Austria and the US have signed an agreement for the exchange of fiscal data. However, the agreement could be renewed soon.
April 30, 2014
Hypo Group Further Losses to Be Expected
Huge losses by the sale of the SEE banking network could be expected.
April 30, 2014
EU Enlargement: A Success Story for Central Europe
Austria is one of the main beneficiaries of the EU enlargement of 2004.
April 30, 2014
Situation for Austrian Banks in Russia is “Sensitive”
According to the latest statistics, Austrian banks are considerably more engaged in Russia than assumed so far. Debts to domestic financial institutes amount to € 50bn.
April 29, 2014
Slovenia: Early Elections Announced
Contrary to the expectations Prime Minister Alenka Bratusek will remain in office after her defeat in the power struggle with party member of Positive Slovenia (PS) Zoran Jankovic.
April 29, 2014
Spindelegger: “Arsonists Are to Blame Not Fire Brigade”
The downsizing of ailing bank Hypo Group Alpe Adria is a heavy burden for this year’s budget. According to Finance Minister Spindelegger, the deficit comes at 2.7 percent of GDP while public debts will soar.
April 29, 2014
Polish Banking Sector: “Too Early for Recovery”
The Polish banking sector has to be patient for economic recovery to show on their results.
April 29, 2014
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