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How Gazprom Helps the Kremlin to Manipulate Austria
The Russian government uses the majority state-owned energy corporation Gazprom to exploit Europe's dependency on Russian natural gas, and Austria is no exception. Read how the Kremlin uses Gazprom to influence Austria.
March 8, 2022
Russia's Sberbank with European Headquarters in Vienna under Pressure
The Austrian Financial Market Authority (FMA) has announced a moratorium on Sberbank Europe AG, a European subsidiary of the Russian state-owned Sberbank. Read what this means for Sberbank Europe and its customers.
February 28, 2022
Putin's People in Austria and Beyond
Following Putin's invasion of eastern Ukraine with the aim of regaining former Soviet territory, two former European prime ministers from Italy and Finland have already resigned from the supervisory boards of two Russian companies. However, some Austrian and German politicians see no reason to resign their mandates. In the following some explanations why.
February 25, 2022 · Updated: February 25, 2022; 11:23
Austria's Population will Exceed Nine Million this Year
Austria's population is nearing nine million and should reach this mark sometime in 2022. Read more about Austria's recent population increase.
February 16, 2022
FDI in Austria: ABA Location Agency Serves 364 International Companies
The annual results from the Austrian Business Agency (ABA) show that its location agency serves 364 international companies. Read more about the ABA's annual results and how the agency is helping companies settle into Austria.
February 15, 2022
TTTech Auto Becomes USD-Unicorn in Automotive Technology
By raising an additional EUR 250 million from Aptiv and EUR 50 million from Audi in its latest funding round, TTTech Auto will be enabled to expand its product portfolio for automotive manufacturers and technology partners, to expand internationally in key regions and to extend its capabilities through strategic M&A and product investments.
February 10, 2022
Demand for Luxury Real Estate in Austria Increased by 12 Percent Due to the Corona Situation
Luxury real estate demand increased by 12 percent in Austria in 2021, according to the Engel & Völkers Group. Read more about the luxury real estate trends in Austria and around the world.
January 17, 2022
Gernot Blümel Now Working for Superfund Co-Founder Christian Baha
Former Austrian finance minister to become CEO of Superfund from March 2022 and is expected to push the asset manager's expansion.
January 12, 2022
Austrian Airlines Finally Has a Female Chief Executive
Annette Mann has been chosen to be the next CEO of Austrian Airlines, succeeding Alexis von Hoensbroech. Ms. Mann will become the first female CEO of Austrian Airlines. Read more about her selection and her predecessor's departure.
December 20, 2021
Erste Group Acquires 100% of Commerzbank Hungary
Erste Bank Hungary Zrt. is acquiring Commerzbank’s Hungarian corporate banking subsidiary Commerzbank Zrt. Through this purchase, Erste is strengthening its position in the corporate banking business in Hungary.
December 20, 2021
"Golden Sunday" Returns: Austrian Non-Food Retailers Allowed to Remain Open on December 19
In an attempt to recoup some of the billions of euros retailers lost out on due to the lockdown in the middle of the holiday season, the Austrian government has announced that non-food retailers will be allowed to remain open on Sunday, December 19 for what is known as "Golden Sunday." Learn which stores the exception applies to and when you can do some last-minute Christmas shopping on Sunday.
December 17, 2021
International Organizations Continue to Favor Austria as Their Seat
The hosting of international organizations is of great importance for Austrian foreign policy, secures 19,000 jobs and has a gross value added effect of € 1.35 billion per year.
December 13, 2021
Vienna Opera Ball 2022: Canceled Twice in a Row
The Austrian government has announced that the 2022 Vienna Opera Ball has been canceled due to COVID-19 concerns. However, the Viennese Opera Ball in New York City is still scheduled to take place. Read more about the two popular events.
December 9, 2021
Who Is the New Austrian Minister of Finance Dr. Magnus Brunner?
The new Austrian Minister of Finance, Dr. Magnus Brunner, has assumed his new position after being sworn in by President Van der Bellen. Learn more about Dr. Brunner and his career prior to becoming finance minister.
December 8, 2021
Wirecard Scandal: Europol Manhunt for Europe's Most Wanted "Marsalek"
Former COO of Wirecard Jan Marsalek, one of Europe's most wanted fugitives, is still the target of an international manhunt for his suspected role in a multi-billion euro fraud scheme. Read about the ongoing search for Marsalek and Europol's 2021 "EU's Most Wanted" campaign.
December 7, 2021
City of Vienna Partner Lab Massively Expands Covid-19 Laboratory
The Lifebrain laboratory, which partners with the City of Vienna, is undergoing a massive expansion on its COVID-19 laboratory. This expansion comes just weeks after an unfair competition lawsuit brought against Lifebrain by the Vienna Medical Association was dismissed. Read about Lifebrain's lab expansion and legal issues.
December 1, 2021
Controversial Chinese 5G Network Operator Huawei Appointed New Austria CEO
The Mainland Chinese Harvey Zhang (38) has been appointed CEO of Huawei Technologies Austria, effective immediately. He replaces Jackie Zhang (38), who was appointed as the new Austria boss just a few months ago.
December 1, 2021
President of the German Chamber of Commerce in Austria Urges People to Vaccinate
Hans Dieter Pötsch, President of the German Chamber of Commerce in Austria (DHK), recently urged everyone to get vaccinated during the 66th General Assembly of the DHK. Read about Mr. Pötsch's urgent appeal and his outlook on economic relations between Germany and Austria.
November 30, 2021
Verdi's Nabucco to Be Performed at the "Oper im Steinbruch" in Summer 2022
The popular opera "Nabucco" will be returning to "Oper im Steinbruch" in the Summer of 2022. Learn more about the upcoming opera and how to reserve your tickets.
November 26, 2021
Casinos Austria: Dutchman Erwin van Lambaart Appointed New CEO
The current head of Holland Casino, Erwin van Lambaart (58), will take over from Bettina Glatz-Kremsner the management of the partly state-owned gaming group Casinos Austria AG on April 1, 2022.
November 24, 2021
Japanese Life Sciences Corporation Invests More Than 100 Million Euros in Vienna
The Japanese life sciences company Takeda Pharmaceutical Company Limited is investing more than 100 million euros in a new building in Seestadt, Vienna. Read about the massive investment and see a picture of what it is supposed to look like upon completion.
November 18, 2021
Budapest Office Property "BudaPart Gate" Acquired by S-Immo
S Immo AG has acquired the "BudaPart Gate" office building in Hungary's capital, Budapest. Read more about the transaction and BudaPart Gate.
November 15, 2021
US Embassy: Visit of the Chargé d'affaires Strengthens Economic Ties between USA and Upper Austria
The Chargé d'affaires of the US Embassy in Vienna Mario Mesquita visited Linz and met with Upper Austrian Governor Thomas Stelzer and Voestalpine CEO Herbert Eibensteiner. Read about Mesquita's visit and what was discussed.
November 11, 2021
Anadi Bank: Former Deutsche Bank Board Member Becomes New Board Member for FinTech
Alp Dalkilic, a former board member at Deutsche Bank, has been appointed to the Management Board at Anadi Bank. Dalkilic is primarily responsible for the bank's FinTech strategy. Read more about Dalkilic and Anadi Bank.
November 5, 2021
Alexander Maculan Receives Russian Order of Friendship
Alexander Maculan, CEO of TAMAK Holding AG, was awarded the Russian Order of Friendship by Ambassador Dmitrij Ljubinskij at a recent meeting of the Austro-Russian Business Council at the Austrian Chamber of Commerce. Read about Maculan and why he was given this honor.
November 4, 2021
Andrea Rois Is the New Head of Group Marketing and Communication at Soravia Investment Holding
Project developer Soravia is strengthening its team with Dr. Andrea Rois (44) as the new Head of Group Marketing & Communication.
November 4, 2021
Infineon Opened €1.6 Billion High-tech Chip Factory in Villach
After three years of planning and construction and a € 1.6 billion price tag, Infineon Technologies AG finally opened its new high-tech chip factory in Villach, Austria. Read more about the new factory, the chips produced there, and what Infineon does.
October 20, 2021
Opening of the Memorial Exhibition "80 Years of Deportations Vienna-Riga"
Vienna Mayor Michael Ludwig recently opened a new memorial exhibition entitled "80 Years of Deportations Vienna-Riga" at Vienna's central train station. The exhibition is intended to remind the public about the horrors of the Shoah and to commemorate the victims. Learn more about the new exhibition.
October 19, 2021
Fundraising Soirée for Descendants of the Author of the 1920 Austrian Constitution
The Jewish Museum Vienna held a fundraiser for the descendants of the author of the 1920 Austrian Constitution, Hans Kelsen. Prominent guests attended and spoke at the event, including a former chancellor and Kelsen's granddaughter. Read about the event and the exhibition being displayed to honor Mr. Kelsen's legacy.
October 15, 2021
Vienna's Praterstern to Be Transformed into a Greened and Cooled Lounge Oasis
Vienna's Praterstern is beginning its transformation into a greened and cooled lounge oasis and should be finished by the summer of 2022. Read about the specifics of the revitalization of Praterstern and view some projections of what the area will look like once it is complete.
October 14, 2021
Vienna's "Traincademy" Uses Modern Simulators and VR for Driver and Rail Jobs Training
The new Traincademy in Vienna offers training courses for train drivers and other rail jobs using modern simulators and VR technology. With some estimating that thousands of rail employees will be needed in the coming years in Austria alone, the Traincademy wants to offer high-quality training to those looking for careers in the industry. Read more about the new Traincademy and the future of the rail industry.
October 13, 2021
Gartenbaukino: Reopening of the Iconic Viennese Cinema
The Gartenbaukino in Vienna is finally reopening after being closed for nearly a year and undergoing roughly seven months of renovation. Read about the renovation of this iconic Viennese cinema and look at some of the upcoming events from its program for 2021/2022.
October 12, 2021
Wiener Linien: 3,000 New WienMobil Bikes in Vienna in 2022
Wiener Linien has announced that its new bike-sharing service "WienMobil Rad" will be replacing "Citybike Wien" in 2022. They also announced there will be more bikes available in more locations. Read about the new bikes, how much they will cost, and where they can be found in Vienna.
October 8, 2021
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
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