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Vienna International Community - Top Executives - Latest Headlines
Read updated news about key executives in Vienna's international community
Wealth Management: Schelhammer Capital Bank Becomes Austria's Leading Private Bank
Bankhaus Schelhammer & Schattera AG and Capital Bank - GRAWE Gruppe AG have merged to form Schelhammer Capital, the strongest private bank in Austria. Read more about the newly created bank and what Chairman of the Board Christian Jauk said about the merger.
October 4, 2021
OPEC's World Oil Outlook 2021 Launched in Vienna
OPEC's flagship annual publication, the World Oil Outlook 2021, was launched via videoconference in Vienna. OPEC forecasts 6% increase in global oil demand in 2021. Learn about the specific highlights of this year's World Oil Outlook.
September 29, 2021
Joint Vienna Institute: Patrick Imam Succeeds Holger Flörkemeier
Patrick Imam joined the JVI - Joint Vienna Institute as Deputy Director. Having joined the International Monetary Fund (a party to the Agreement for the Establishment of the JVI) in 2005, he has held positions in the Middle East and Central Asia as well as the African Department (Zimbabwe and Madagascar), the IMF Institute and the Monetary and Capital Markets division. His predecessor Holger Flörkemeier was the JVI Deputy Director for the last four years. On the occasion of his departure, the JVI interviewed him and asked him to share his experience and views on the JVI.
September 28, 2021
Doing Business with the United Arab Emirates: World Expo 2020 Opens in Dubai
The World Expo 2020, which kept its name despite being delayed to 2021, is set to begin in Dubai on 1 October. The United Arab Emirates (UAE) has been a particularly sought-after market for many Austrian companies. Read about the upcoming Expo, the economic relationship between Austria and the UAE, and some of the many Austrian companies that have found success there.
September 23, 2021
Vietnamese Business Delegation in Vienna
The Chairman of the Vietnamese National Assembly, Vuong Dinh Hue, and a high-ranking business delegation recently attended a business forum in Vienna with the Austrian Chamber of Commerce (WKÖ) Vice-President Richard Schenz. The forum included discussions about the dynamic Vietnamese economy and why it is an ideal location for Austrian companies and investors to diversify in Asia.
September 22, 2021
Jewish Museum Vienna: Restitution to Ephrussi Family after Decades
The Jewish Museum Vienna has restituted the Franz Adam painting “Camp Scene from 1848 in Italy” to the Ephrussi family. Following the authorization by Defense Minister Klaudia Tanner, ownership of the painting was returned to the heirs of Viktor Ephrussi. The painting was in the Museum of Military History in Vienna after being confiscated from Viktor Ephrussi by the Nazis. Read more about the painting's history and its restitution to the Ephrussi family.
September 14, 2021
The 250th Anniversary of the Vienna Stock Exchange
The Vienna Stock Exchange recently celebrated its 250th anniversary since it was founded by Maria Theresa. Minister of Finance Gernot Blümel congratulated the stock exchange on its anniversary and advocated for the implementation of a government program and retention periods to incentivize Austrians to invest in the domestic economy. Minister Blümel and Vienna Stock Exchange CEO Christoph Boschan both advocated for educating the public on financial topics. Read more about the Vienna Stock Exchange and what the pair said on its anniversary.
September 14, 2021
ÖBAG: Dr. Christine Catasta Appointed to the Supervisory Boards of Telekom Austria and OMV
ÖBAG CEO Dr. Christine Catasta was appointed to the Supervisory Boards of Telekom Austria (A1) and OMV. With her appointment, both companies have strengthened their women's quota, and OMV has reached parity between the number of male and female capital representatives. Read more about Dr. Catasta.
September 13, 2021
Jewish Museum Vienna: Barbara Staudinger to Succeed Danielle Spera After 12 Years
Dr. Barbara Staudinger has been unanimously selected to succeed Dr. Danielle Spera as the managing director of the Jewish Museum Vienna. Dr. Spera has served as the director of the museum since 2010, and her contract will expire in June 2022. Read more about Dr. Staudinger and some of the responses to her selection.
September 13, 2021
Austrian University Spin-offs at the World Expo in Dubai
The World Expo 2020, which retained its name despite being postponed to 2021, will begin in October in Dubai. Various Austrian university spin-offs will present their innovations that will have positive impacts on climate-conscious behavior. These spin-offs include GREENPASS, REEgain, WoodC.A.R., City Intelligence Lab (CIL), Mostly AI's Mostly GENERATE, and Incremental3D's myPot. Read more about Austria's contribution to the upcoming World Expo and what innovations these spin-offs will be presenting.
September 8, 2021 · Updated: September 8, 2021; 16:16
1.8 Million Euro Seed Funding for Austrian Crypto Investment Start-up
The cryptocurrency investment start-up Coinpanion is receiving € 1.8 million in seed investments from well-known investors in Austria and Germany. The lead investor is the German High-Tech Gründerfonds (HTGF), one of the most active venture capital funds on the European market. Read more about the start-up and those investing in it.
September 2, 2021
Wirecard Scandal: Marsalek Confidant Arrested in Singapore
A close confidant of the Austrian-born former Wirecard board member Jan Marsalek, who is wanted on an international arrest warrant, has been arrested in Singapore. Briton Henry O'Sullivan is considered a close confidant of Marsalek and plays an alleged key figure in the multi-billion Wirecard fraud scandal.
September 1, 2021
Alfred Stern Takes Over from Rainer Seele as CEO of OMV
Effective September 1, 2021, Alfred Stern will assume the position as Chairman of the Executive Board and CEO of OMV, the Austrian oil and gas group.
August 31, 2021
ÖBAG: Attorney Edith Hlawati to Succeed Thomas Schmid
The Supervisory Board of Österreichische Beteiligungs AG (ÖBAG) has appointed the internationally recognized business lawyer Dr. Edith Hlawati as the new Chief Executive Officer of ÖBAG. She will succeed Thomas Schmid and take over the management of the state holding on 1 February 2022. Learn more about her and the selection process.
August 30, 2021
Vienna Danube Tower: Dining Pleasure at a Height of 170 Meters
The Vienna Danube Tower (Wiener Donauturm) offers various packages for enjoying a panoramic view of Vienna at 170 meters high. The tower cafe and tower restaurant offer three-course menus, romantic dinners, brunch buffets, birthday parties, and more. Read more about the various dining options at the top of the Danube Tower.
August 24, 2021 · Sponsored Content
Woom to Double Workforce by 2022: Merging European and US Operations
The Austrian children's bicycle manufacturer woom has merged its operations in Europe and the USA. The company is also expected to double its workforce by 2022, creating more jobs in the manufacturing industry. Read more about woom and its recent merger.
August 20, 2021
Vienna's New International Long-Distance Bus Terminal
Construction on Vienna’s new international long-distance bus terminal funded by Donau Busterminal Realisierungs GmbH and designed by Burtscher-Durig is set to begin by the end of 2022, and the terminal is expected to be operational by 2024 or 2025. Read more about the estimated project costs of 200 million euros and some of the advantages it presents to international travelers.
August 18, 2021
Austrian Airlines CEO: "The crisis does not allow for a sigh of relief"
A report shows that Austrian Airlines, like the airline industry as a whole, is still suffering greatly from the COVID-19 pandemic. CEO Alexis von Hoensbroech acknowledges that 2021 has been better than 2020 so far, but the airline is still a long way from reaching pre-pandemic numbers.
August 9, 2021
Economic Opportunity: Malaysian-Austrian Joint Statement on Cooperation
Malaysian Minister of International Trade and Industry Mohamed Azmin Ali met with the Austrian Minister of the Economy Margarete Schramböck. The pair discussed cooperation in the high-tech industry, education and more. The two ministers also signed a joint statement, affirming Malaysia and Austria's intention of further economic cooperation.
August 3, 2021
Pioneering Hydrogen Alliance between the United Arab Emirates and Austria
On the occasion of the visit of the Ruler and Crown Prince of the Emirate of Abu Dhabi, Sheikh Mohamed bin Zayed bin Sultan Al Nahyan to Austria, the United Arab Emirates (UAE) and Austria agreed on a strategic partnership. The core of the agreement is closer international cooperation in the fields of hydrogen, renewable energy, youth exchange, green technologies, digital economy and research, according to the UAE Embassy in Vienna and Chancellor Kurz.
August 1, 2021
Peace in Hard Times: Global Peace Photo Awards Ceremony
After canceling the event last year due to the COVID-19 pandemic, the Global Peace Photo Awards Ceremony 2020 was recently held in Baden. The Global Peace Photo Awards Ceremony 2021 will be held later this year. These awards honor the images that best capture the theme of peace each year. Read about the ceremony and who won the awards for 2020.
July 30, 2021
Vienna Airport: Resumption of Flights to Toronto, Abu Dhabi, Riyadh and Jeddah
Vienna International Airport announced the resumption of flights to Toronto, Canada; Abu Dhabi, UAE; and Riyadh and Jeddah, Saudi Arabia. The flight resumptions will also provide more connection opportunities to other destinations around the globe.
July 28, 2021
The Future of Tourism in Vienna Lies in Overseas Guests
Vienna International Airport and Vienna Tourist Board have extended their cooperation with the aim of acquiring international long-haul connections. They believe the future of the tourism industry in Vienna, especially coming out of the COVID-19 pandemic, depends on attracting more overseas guests. Find out why.
July 21, 2021
Jewish Museum Vienna Follows Path of Digitalization
The Jewish Museum Vienna has launched its new website, which will provide visitors with a clear and concise overview of the museum and its activities. According to Director Spera, this is part of the comprehensive digitalization strategy of the museum.
June 9, 2021
New CEO for OMV: "Beginning of a Major Transformation"
The Austrian multinational company OMV has appointed a new CEO. After the current and parting CEO Rainer Seele has been facing heavy public criticism, OMV will now try to rebuild its image.
June 2, 2021
2025: Rail Connection Vienna - Bratislava in 45 Minutes
Cutting the travel time between Vienna and Bratislava short by 15 minutes is the goal of the planned double-track expansion between the EU capitals. Read more about the implementation and the benefits of the construction works.
May 28, 2021
Covid-19 in Austria: Company Vaccinations Continue
Besides the pre-registration and booking of appointments by individuals, Vienna offers a Covid-19 company vaccination program, which allows employers and their employees to receive vaccinations at an earlier time point.
May 20, 2021
Austrian Multinational Company Loses Current CEO
The Austrian multinational corporation OMV has announced that its current CEO, Rainer Seele, will end his term in June 2022. Only recently, criticism against OMV and Seele have increased. Find out more about how his end at OMV and the criticism relate.
May 3, 2021
Business Location: Austria Invests in Broadband Internet
The Austrian government has announced plans of investing EUR 1.4 billion into broadband expansion. The aim of the investment is to strengthen Austria as a business location and to enhance economic development in rural areas. By 2030, a quick and stable Internet connection will be provided nationwide.
April 29, 2021
Austria Welcomes EU's Artificial Intelligence Framework
Austria's Minister for Digital Affairs, Margarete Schramböck, welcomes the new EU proposition of rules for artificial intelligence. Schramböck stresses the need for an EU-lead process and advocates for secure and innovative solutions that would "promote innovation while ensuring a high level of protection and security."
April 26, 2021
Activities of Arab Countries in Vienna to Strengthen Mutual Cooperation
The Austro-Arab Chamber of Commerce (AACC) under Secretary General Eng. Mouddar Khouja reports on various activities and means to strengthen mutual cooperation between Austria and the Arab countries UAE United Arab Emirates, Egypt and Qatar.
April 25, 2021
Viennese Theater Productions Premiere in Japan
The Viennese theater productions "Mozart!" and "Elisabeth" premiere in Japan despite the Covid-19 pandemic. The two musicals will be staged numerous times in various cities in Japan and show the interest of the Japanese population in Austrian theater productions.
April 22, 2021
Eurochambres President Leitl: Focus on Digital Skills, Education and Qualification
At a meeting with EU Commissioner Mariya Gabriel, the Austrian Eurochambres head, Christoph Leitl, and Austrian Chairwoman of the Eurochambres Women Network, Martha Schultz, demanded focus on digital skills, education and qualification of the EU education program Erasmus+ for European reconstruction.
April 21, 2021
Extension of Austria's Internationalization Program "go-international" Announced
Austrian Economics Minister Margarete Schramböck and President of the Austrian Federal Chamber of Commerce (WKO) Harald Mahrer extend the joint internationalization offensive "go-international" and provide EUR 25.6 million for the next two years. The funding will focus on the areas of innovation and technology, value chains and digitalization.
April 20, 2021
Austrian Companies Develop Innovations for Africa
On the occasion of the "Africa Innovation Challenge 2021" organized by Advantage Austria - Aussenwirtschaft Austria, several Austrian companies have developed innovative solutions to solve societal challenges in Africa's dynamic markets. At the World Summit Award (WSA), five projects have been selected champions by an international jury.
April 19, 2021
Austria Increases Turnover Loss Bonus
Companies, which are experiencing significant revenue shortfall due to the ongoing Covid-19 crisis, can now submit their applications for the Austrian turnover loss bonus for the months of March and April. The total amount available for companies has been increased to EUR 80,000 per month.
April 16, 2021
Demand for More Artificial Intelligence in Austrian Economy
According to a study by the Boston Consulting Group (BCG), only 12 percent of Austrian businesses use artificial intelligence in their operations. For Alfred Harl, representative of the Austrian Federal Chamber of Commerce in this particular sector, Austrian companies will need to stay up to date with regard to new technologies and not be "left behind in the strong international environment."
April 14, 2021
Potential Closure of MAN Plant in Austria
After the majority of the workforce in the MAN plant in Steyr voted against a takeover concept of a potential investor, Austria's federal and state governments are highly invested in supporting a solution that would save more than 1,000 jobs in Steyr, Upper Austria. No solution would mean a closure of the plant by 2023.
April 14, 2021
Vienna as Industrial Location: Proximity to Eastern Market Loses Importance
A recent survey shows that Vienna's infrastructure and quality of life are location advantages for Vienna as an industrial location, but the proximity to eastern European and other eastern markets declines in importance. Only 40 percent of the 172 surveyed Viennese industrial companies see the proximity to the eastern EU countries as an advantage,
April 8, 2021
Vienna Celebrates 25 Years of EU Funding
One year after Austria's accession to the EU in 1995, the first projects with the help of the European Union were established in Vienna. 25 years later, in 2021, Vienna looks back at the hundreds of projects, which improved various aspects of the city and were only possible due to the funding provided from the European Union.
April 8, 2021
WKO Heads: "We Cannot Afford a Pause in Vaccination"
The heads of the Austrian Federal Chamber of Commerce (WKO) are delighted about the possible acquisition of the Russian Covid-19 vaccine "Sputnik V" by the Austrian government. Furthermore, they hold on to their idea of using companies for vaccination programs, similar to the implementation with in-company testing.
March 31, 2021
Extension of Re-Employment Promise in Austria Gives Planning Security
In order to alleviate the hard-hit tourism industry, Austria's Labor Minister Martin Kocher and Tourism Minister Elisabeth Köstinger have announced to further extend the re-employment promise until the end of official closures. This gives the respective businesses more planning security, since they will not have to worry about their well-trained employees.
March 31, 2021
Austria Joins European Financial Reporting Advisory Group
According to Austria's Finance Minister Gernot Blümel, Austria's accession to the European Financial Reporting Advisory Group (EFRAG) strengthens Austria's interests at the international level and allows for a more active role in European and international standard setting in financial reporting.
March 29, 2021
Austrian Airlines Continues Restructuring Process
Austrian Airlines has announced to further their restructuring process. The company will be cutting more than 650 jobs by 2023, while reducing the fleet once more. CEO Alexis von Hoensbroech: "The pandemic is taking much longer than expected. For this reason, we are now taking additional measures to secure the future of our Austrian Airlines in the long term."
March 26, 2021
Vienna Will Host Pathologist and Muscle Researcher Congresses
The City of Vienna has successfully brought two high-ranking medical congresses to Vienna. The 28th International Congress of the World Muscle Society will be in Vienna from September 23 to 29, 2024, and the European Society of Pathology will be meeting in Vienna from September 6 to 10, 2025.
March 22, 2021
Two of Austrian Biggest Commercial Real Estate Companies Could Turn to One
The Austrian commercial real estate company Immofinanz AG has decided to make a voluntary public takeover offer for the s Immo AG. The two companies have considered a merger in the past, but the intentions never succeeded. Whether or not the public takeover offer will be going through this time depends on the General Meeting of s Immo and antitrust approvals.
March 18, 2021
Austrian Foreign Trade: Covid-19 Pandemic Takes its Toll
Austria's imports and exports both declined heavily in 2020. A year characterized by the Covid-19 pandemic, the total value of imports decreased by around 9 percent compared to 2019, while Austrian companies exported 7.5 percent less than the year before. In total, imports and exports resulted in a trade balance deficit of around EUR 2 billion.
March 15, 2021
Vienna Still Attractive for International Companies
In 2020, Vienna has welcomed more than 200 new companies despite the difficulties resulting from the Covid-19 pandemic. Mayor Michael Ludwig interprets "the high level of interest" from foreign companies in Vienna as a result of Vienna being regarded as "stable and safe economic ground".
March 12, 2021
Schallenberg on the International Women's Day: "Women Must Play a Key Role in Decision-making"
Austria will take over special responsibility for women's policy concerns in the UN Commission on the Status of Women at the end of March. On the occasion of this role and the International Women's Day, which was celebrated on March, 8, Foreign Minister Alexander Schallenberg demands more women in decision-making roles.
March 11, 2021
Increase in Financial Aid for Companies in Austria Introduced
Austria's Minister for Finance Gernot Blümel has presented an increase of measures to alleviate companies from the hardships of the Covid-19 crisis. Funding for the turnover loss bonus has been increased and compensation for vacation days during short-time work has been introduced.
March 11, 2021
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