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Vienna Hosts Major International Conference on Autonomous Weapons Systems

The historic Hofburg Palace in Vienna will be the center of global attention as it hosts the international conference entitled "Humanity at the Crossroads: Autonomous Weapons Systems and the Challenge of Regulation." The Vienna Conference on Autonomous Weapons Systems will take place from April 29 to 30, 2024.

April 28, 2024

Future of Research in Austria: Leader in the European Union

In an unprecedented phase of development, Austria's research landscape has set out to achieve the highest research quota within the European Union. The year 2024 marks a turning point in which the country achieves a research quota of 3.34% of gross domestic product (GDP) - a record figure that puts Austria on the ambitious path to the top in Europe.

April 24, 2024

Climate Incentive Programs in the USA: A Magnet for Austrian and International Investors

At an information event in Austria, the U.S. Commercial Service and SelectUSA, together with the American Chamber of Commerce in Austria, provided important insights into the latest U.S. climate incentive programs. The event attracted a large number of Austrian and international investors who learned about the opportunities offered by the Inflation Reduction Act and the Bipartisan Infrastructure Law.

April 18, 2024

Group DF International and Hyundai Engineering in Vienna: New Industrial Park in Ukraine

In an ambitious move to aid Ukraine's post-war reconstruction, Group DF International, led by controversial Ukrainian oligarch Dmytro Firtash, and Hyundai Engineering Co. Ltd., have embarked on a major venture to establish a chemical industrial park in the city of Rivne, situated in Western Ukraine. This pivotal agreement was officially sealed in Vienna, setting the stage for what is poised to be one of the most substantial investment initiatives in the region.

April 15, 2024

Vienna Stock Exchange Experiences First Record Quarter Despite Global Uncertainties

The Vienna Stock Exchange closed the first quarter of 2024 with a remarkable increase in bond listings, although the economic environment continues to be characterized by high-interest rates, the ongoing war in Ukraine and the Middle East, and high inflation. Despite these challenges, the exchange recorded a record 3,000 new listings, the best start to a year in its history.

April 14, 2024

Vienna to Host Austria's Honorary Consular Conference 2024

The Austrian capital Vienna was the center for the Honorary Consular Conference 2024, attended by around 200 honorary consuls from all over the world. The meeting, which takes place from April 10 to 12, is the first of its kind since 2015 and serves as a platform for the exchange and further development of consular practice.

April 14, 2024

Serbian Investor Plans Entry into Austrian Addiko Bank

A new investor is showing interest in Addiko Bank, a financial institution that emerged from the former Hypo Alpe Adria Balkan banks. The Cypriot company Agri Europe Cyprus, which is attributed to Serbian businessman Miodrag Kostić, is planning to acquire a significant stake in the bank.

March 25, 2024

Trade Seminar in Vienna on the Latest Regulatory Developments in the UAE

Diplomacy, business, and finance representatives gathered in Vienna for a seminar dedicated to the latest regulatory developments in the United Arab Emirates (UAE). Organized by the Embassy of the UAE in cooperation with Crowe UAE and the Austrian Arab Chamber of Commerce (AACC), the seminar provided a platform for an exchange on innovations in tax, corporate, and immigration law in the UAE. The event received special support through the participation of experts from the UAE Ministry of Finance and the Austrian Chamber of Commerce.

March 24, 2024

Francophonie Forum in Vienna: A Bridge Between Culture, Business and Sport

An event took place in Vienna that underlined the cultural and economic importance of the Francophonie. The Austrian Federal Economic Chamber (WKÖ), in close cooperation with the French Embassy in Austria and the French-Austrian Chamber of Commerce (CCFA), organized the forum "L'industrie du sport parle français" ("The sports industry speaks French").

March 21, 2024

Harmony and Dialogue at the Interreligious Iftar in Vienna

In an impressive demonstration of unity, Foreign Minister Alexander Schallenberg and the President of the Islamic Religious Community in Austria (IGGÖ), Ümit Vural, hosted an unprecedented interfaith iftar. The event, which took place in the historic Palais Niederösterreich, brought together representatives of different religious communities and personalities from politics, science, and diplomacy.

March 20, 2024

U.S. Ambassador Kennedy Will Lead Austrian Delegation to Major Investment Summit in the U.S.

In a major announcement from the US Embassy in Vienna, it has been revealed that US Ambassador Victoria Kennedy will lead a high-profile Austrian delegation to this year's SelectUSA Investment Summit. The event, which will take place from June 23-26, 2024 at the prestigious Gaylord National Resort & Convention Center in National Harbor, Maryland, is considered a key platform for promoting foreign direct investment in the United States.

March 10, 2024

Signa's Major Project "Lamarr" in Vienna Seeks New Owner

The prestigious "Lamarr" real estate project on the bustling Mariahilfer Strasse, a flagship property of the troubled Signa Group, is now officially on the market.

March 6, 2024

Chinese BYD Strengthens Presence in Austria

Chinese car manufacturers are becoming increasingly present in the European car market and are openly demonstrating their role. The Chinese company BYD proudly presents its cars and other products on the Austrian market.

February 28, 2024

Financial Turbulence and Internal Conflicts Shake Signa Group Severely

The Signa Group's financial crisis reached a new peak when creditors filed claims totaling EUR 6.3 billion against Signa Prime, of which only EUR 2.6 billion were recognized by the restructuring administrator Norbert Abel. The hearing at the Vienna Commercial Court revealed that the group's financial difficulties are deeper than previously thought, with a significant proportion of the claims in dispute.

February 26, 2024

Decline in Frozen Russian Assets in Austria

The significant drop in the volume of frozen Russian assets in Austria, as observed over the past year, mirrors a broader trend seen in other countries, where the handling and status of these assets have been dynamic and subject to legal, political, and financial considerations.

February 21, 2024

"Shaping Europe together": EBÖ Launches Second Workshop in the Run-Up to the 2024 EU Elections

The European Movement Austria (EBÖ) is intensifying its efforts to actively involve companies and associations in shaping the future of Europe. Under the motto "Shaping Europe together", the second workshop in this series will take place on March 18, 2024, at the House of the European Union in Vienna. The aim is to give participants a comprehensive insight into EU policy and enable them to play a greater role.

February 20, 2024

Signa Group's Luxury Properties up for Sale: A Glimmer of Hope for the Redevelopment

Signa Prime Selection AG, a major player in the luxury real estate market, is currently facing financial difficulties that could now be alleviated by the planned sale of some of its most prestigious properties. Karl-Heinz Götze, the insolvency manager of the credit protection association KSV1870, sees this step as a crucial "piece of the puzzle" for an orderly resolution of Signa Prime's insolvency proceedings.

February 14, 2024

Africa Day 2024: Austria Looks to Africa's Future Markets

This year's Africa Day was all about Africa's future markets and offered a platform to strengthen economic relations between Austrian and African companies. Organized by the Austrian Federal Economic Chamber (WKÖ), the event attracted more than 1,200 participants from Austria, over 30 African countries, and guests from Europe, Asia, and the USA.

February 5, 2024

Signa-Retail Company Lamarr Declares Bankruptcy

The highly anticipated Lamarr Kaufhaus project on Mariahilfer Straße in Vienna, set to include a flagship department store and hotel, has filed for bankruptcy. This development comes as a significant blow, as the project, originally slated for completion in 2025, has faced financial turmoil. The insolvency was confirmed by the Creditors' Protection Association KSV 1870 on Friday.

February 4, 2024

Austria United in Remembrance: Joint Remembrance on International Holocaust Remembrance Day

In an impressive sign of solidarity and remembrance, representatives of the Jewish Community, Roma, Austria's political leaders, and members of the democratic opposition came together in Vienna to commemorate the millions of victims of the Shoah.

January 30, 2024

Austrian Justice Minister Zadić Plans Reforms in Connection with the Signa Insolvency

The insolvency of the Signa real estate company has far-reaching consequences, which are now also prompting the Austrian Ministry of Justice under the leadership of Green Justice Minister Alma Zadić. In a five-point plan in response to Signa's insolvency, Zadić plans to significantly tighten the penalties for failing to submit balance sheets.

January 24, 2024

Promotion of Democracy in the Age of AI by the U.S. Embassy in Vienna

The U.S. Embassy in Austria, in cooperation with the Austrian Federal Ministry for European and International Affairs (BMEIA), recently hosted renowned AI ethics and policy expert Merve Hickok for an important dialog on global challenges. This initiative is part of the "U.S.-Austria Citizen Dialogue on Global Challenges".

January 22, 2024

Jonas Kaufmann and Elisabeth Engelbrechtsmüller-Strauss Awarded the French Legion of Honor

The awards of the French Legion of Honor to Jonas Kaufmann and Elisabeth Engelbrechtsmüller-Strauss underline the importance of their artistic and business activities. Kaufmann's contribution to the world of opera and music and Engelbrechtsmüller-Strauss' successful management of an international technology group as well as her social commitment reflect France's appreciation of outstanding achievements in culture and business.

January 18, 2024

DHK New Year's Reception 2024: Business and Politics in Dialog

The traditional New Year's reception of the German Chamber of Commerce in Austria (DHK) took place in Graz, set against the historic backdrop of the auditorium of the Old University.

January 17, 2024

25th Savaball: A Celebration of Serbian Culture at the Vienna Hofburg

The 25th anniversary of the Savaball at the Vienna Hofburg will be a great celebration of Serbian culture and tradition. With high-caliber guests from politics and show business, international artists, and a social commitment, the ball promises to be a great celebration of Serbian culture and tradition.

January 17, 2024

Signa Prime and Development: Future Secured Despite Insolvency

The future of the two important branches of the Signa Group, Signa Prime and Signa Development, seems secure for the time being.

January 15, 2024

Karl von Habsburg Calls for Decisive Action in Speech on the Future of Europe

Karl von Habsburg, President of the Pan-European Movement Austria, used the annual "Speech on the Future of Europe" to address important European policy issues. The motto of the online matinee was "Courage to take responsibility".

January 11, 2024

Secret Meeting to Plan Mass Displacement in Germany: The Role of the Austrian Martin Sellner

A secret meeting held in a hotel near Potsdam last November brought together high-ranking AfD politicians, neo-Nazis and wealthy entrepreneurs. The meeting aimed to discuss a plan to expel millions of people from Germany. Among those present was Martin Sellner, a well-known far-right activist from Austria and former spokesperson for the Identitarian Movement Austria.

January 10, 2024

Political Thriller Around the Abramovich Villa in Austria

The sale of a villa on Lake Fuschl to Russian oligarch Roman Abramovich's family in Salzburg has been revealed to have disappeared. The property was acquired through an offshore letterbox company and a British trustee. The Green Party is now calling for the sale to be reversed, requiring a trust deed. The party is seeking clarification on how the sale can be reversed without the deed.

January 9, 2024

Financial Crisis at Signa: Bankruptcy Proceedings Initiated for Subsidiaries

The financial difficulties of Signa's flagship Signa Prime Selection lead to further negative developments within the group.

January 8, 2024

Signa Crisis: Call to Investors for Financial Support

Signa Holding, a prominent real estate company, is facing financial difficulties. Erhard Grossnigg, the Chief Restructuring Officer of the Signa subsidiaries Prime and Development, has sent a letter to investors urgently requesting additional funding.

January 4, 2024

Obituary of Gaston Glock: Austria's Most Famous Gunmaker

Renowned entrepreneur and engineer Gaston Glock, founder of the world-renowned gun company Glock, has passed away at the age of 94. Glock, who founded the company in 1963 in Deutsch-Wagram in Lower Austria, revolutionized the industry with his gun production and established his brand globally.

December 28, 2023

Emirati State Fund Mubadala Fails with Claim Against Signa Holding

The Abu Dhabi sovereign wealth fund, Mubadala, has failed with a significant claim against the insolvent Signa Holding. The request to claim a payment of 713 million euros was rejected in emergency arbitration proceedings.

December 21, 2023

Russian Oligarch Oleg Deripaska Sells STRABAG Shares to Russian Corporation

The Russian oligarch and major shareholder of STRABAG, Oleg Deripaska, has initiated a sale of his considerable stake in the Austrian construction group to a Russian joint stock company.

December 19, 2023

Vienna Commercial Court Establishes Creditors' Committee for Signa Holding

The Austrian Signa Holding, founded in 2000 by René Benko, is currently facing major challenges. The Commercial Court of Vienna has set up a creditors' committee for the ongoing reorganization proceedings to examine the non-transparent structures of the Signa Group and to decide on the reorganization plan offered by Signa.

December 18, 2023

Jan Marsalek's Deep Connections with Russian Intelligence Revealed

Jan Marsalek, once a high-ranking figure at Wirecard and now one of Europe's most wanted criminals, has been exposed as a long-time spy for Russia. Marsalek is reportedly currently in Dubai and is reorganizing Russian operations in Africa.

December 15, 2023

Pilnacek Affair: Entanglements, Revelations and Political Upheavals in Austria

The Austrian political landscape is currently being rocked by the Pilnacek affair, a complex entanglement of power, secrets and political calculation. At the center is the late head of the justice section Christian Pilnacek, whose secretly recorded audio raises new accusations against the ÖVP.

December 7, 2023

Vienna Forum Discusses New Standards for Afghanistan's Future: Focus on Inclusive Peace and Women

At the recent civil society forum held in Vienna ahead of the "3rd Vienna Conference for a Democratic Afghanistan", representatives of the Afghan diaspora from nine European countries met to discuss perspectives for the future of Afghanistan. The Vienna Institute for International Dialogue and Cooperation (VIDC) hosted this important conference.

December 7, 2023

The Future of a Crumbling Empire: René Benko's Signa Group in Insolvency

The insolvency of the Signa Group, an Austrian company active in various sectors, including the real estate market, has far-reaching implications. Read more about the future of the Austrian flagship company!

December 6, 2023

Glock Ecotech Launches Sustainable Energy Project in Sweden

The Austrian company Glock ecotech has taken a significant step towards sustainable energy supply in Sweden. With the successful commissioning of its first electricity-to-heat power plant near Nyköping, the company now also offers an environmentally friendly energy option in the Scandinavian region.

December 5, 2023

Austro-Arab Chamber of Commerce Hosts Libyan Delegations for Industry and Digital Transformation Talks

In a series of significant events, the Austro-Arab Chamber of Commerce (AACC) in Vienna, Austria, played host to high-level delegations from Libya, focusing on industrial development and digital transformation.

December 5, 2023

Austria-Arab Business Dialogue: Increased Cooperation and Innovation

The 13th edition of the Arab-Austrian Business Forum, which took place in Vienna, impressively demonstrated the growing importance of cooperation between Austria and the Arab countries. The forum, organized by the Austro-Arab Chamber of Commerce (AACC) and the Vienna Economic Chamber (WKW), brought together over 200 participants from various countries, including high-ranking ministers and business people.

December 4, 2023

Feminist Foreign Policy in Focus: Experts Discuss New Perspectives in Austria's Parliament

The Austrian Parliament hosted an important panel discussion on "Feminist Foreign Policy", where experts emphasized the need for a change of perspective in international politics.

November 29, 2023

U.S. Embassy and Austrian Marshall Plan Foundation Explore the Future of Transatlantic Relations

The Amerika Haus in Vienna was the venue for a major panel discussion on "An Uncertain Future: The State of Transatlantic Relations in a World on Fire", organized by the Austrian Marshall Plan Foundation in cooperation with the U.S. Embassy in Austria.

November 23, 2023

Energy Transition and Sustainability: French Visit to the AMAG Aluminum Plant in Upper Austria

The French Ambassador to Austria, Gilles Pécout, visited the AMAG aluminum factory in Upper Austria. He was accompanied by the Honorary Consul Mr. Redlhammer and Mr. Chaumont from the Economic Service. During this visit, they were received by the Managing Director of AMAG, Gerald Mayer, and the company spokesman, Leopold Pöcksteiner. The meeting provided an opportunity to shed light on the company's operational activities, strengths, and challenges.

November 17, 2023

Uncovering of Money Laundering and Real Estate Fraud in Austria and Cyprus

New leaks have uncovered a complex network of opaque asset transfers centered around Russian oligarchs and Austrian real estate. According to the investigative project "Cyprus Confidential", Austrian real estate is particularly popular with wealthy Russians. Around 40 Cypriot companies own real estate in Vienna, often penthouses in expensive locations.

November 16, 2023

Signa in Upheaval: Rene Benko's Retreat and the Future of the Real Estate Giant

Significant changes have now taken place at the real estate and retail group Signa. Company founder Rene Benko is stepping down and handing over the reins to restructuring expert Arndt Geiwitz. This step follows pressure from investors and is intended to initiate a comprehensive restructuring of the group. Benko's removal from power was already apparent in the industry, but it has now been officially announced that Geiwitz will take over as Chairman of the Shareholders' Committee and the Advisory Board. However, the circumstances surrounding Benko's voting rights remain uncertain.

November 9, 2023

Vienna Mutfluencer Project: An Example of European Solidarity Awarded the Citizens' Prize

In a time of global challenges, the Viennese social project "Mutfluencer*innen" has received significant recognition for its commitment by being awarded the European Citizen's Prize 2023. The initiative, which was launched in the summer of 2021, aims to empower young people - especially those from disadvantaged backgrounds - to face the challenges of crises, isolation, and fears for the future.

November 7, 2023

Rene Benko and the Future of the Signa Group: Silence Before the Storm?

The Austrian Signa Group once celebrated as a shining star in the real estate sky and a powerful player in the retail sector, is currently facing uncertain times and financial turbulence. Company founder Rene Benko, who has led the group from a non-operational position since 2013 and holds the majority of voting rights through his family foundations, is at the center of a heated debate about the group's future.

November 6, 2023

Vienna Pioneer for Circular Economy: Climate Lab as a Spark for Climate Transformation

In the heart of Vienna, more precisely at the Climate Lab in Vienna Spittelau, an innovative movement has emerged that has the potential to fundamentally change the way Austria's economy deals with its resources. Climate Protection Minister Leonore Gewessler and the top representatives of Austria's largest companies came together to drive forward a sustainable transformation of Austria as a business location, with the Climate Lab playing a key role.

November 5, 2023