Vienna International Community - Top Executives - Latest Headlines
Read updated news about key executives in Vienna's international community
How the EU-Japan Economic Partnership Agreement Benefits Austria
The EU-Japan Economic Partnership Agreement (EPA) celebrates its second anniversary by adding 28 protected geographical indications, one of them important for Austria, and facilitating trade in wine and vehicles. The agreement does not only benefit the EU as a whole, but has also immediate impact on Austria's economy.
February 8, 2021
WKO Heads: Easing of Lockdown Was Necessary
Both, the Austrian Federal Chamber of Commerce's (WKO) President, Harald Mahrer, and Secretary General, Karlheinz Kopf, are pleased by the government's decision to open the retail sector and body-related service providers again. They furthermore demand a clear perspective for industries that are yet to be opened.
February 4, 2021
Vienna Stock Exchange: Herrmann Joins Boschan and Koblic on the Management Board
The Vienna Stock Exchange (Wiener Börse AG) has announced that its Supervisory Board has decided to appoint Andrea Herrmann as a third member of the Management Board (CFO).
February 4, 2021
Vienna Hopes for Revival as Congress Metropolis
The Covid-19 pandemic has influenced numerous different industries. Conventions, congresses and large-scale corporate events have not been possible, although they were important drivers for Vienna's tourism and international standing as congress metropolis. For 2021 and the upcoming years, the city hopes to experience a revival of this particular industry.
February 3, 2021
Austria's National Budget: EUR 22.5 Billion Deficit
The Covid-19 crisis has severely impacted Austria's economy and national budget. The Ministry of Finance has issued its financial results for the year 2020, which shows a deficit of EUR 22.5 billion. Higher expenditures for measures in connection with Covid-19 and a decrease in public levies are the main reasons for the bad results.
February 3, 2021
Covid-19 in Austria: New Rules Apply From February 8
Austria's federal government has announced a slight relaxation of the current lockdown. Shops and schools will reopen under certain requirements, but penalties for disregarding measures and and entry into Austria will be tightened. The aim of the government is to contain the current virus mutations from the UK and South Africa.
February 2, 2021
"Ronaldo of Investment Banking" Becomes New CEO of Bank Austria Parent Company
The Board of Directors of UniCredit SpA, which owns 96.35% of Bank Austria, unanimously nominated "deal junkie" Andrea Orcel as designated CEO to replace the outgoing CEO, Jean Pierre Mustier.
January 31, 2021
Blümel: EU's Raise of State Aid is Necessary Step
The European Commission has extended its framework for state aid to support companies that are affected by Covid-19. In addition to the extension, the current thresholds have been raised, which was a highly necessary decision according to Austria's Finance Minister Gernot Blümel.
January 29, 2021
European Battery Initiative Launches With Austrian Participation
The European Commission has approved a EUR 11.9 billion large-scale battery project. Austria will play a decisive role in this initiative having involved six companies. The aim of the project is to create a competitive, innovative and sustainable value chain for batteries and thus working towards achieving the European Green Deal.
January 28, 2021
Construction Works for Vienna's New Metro Line Have Begun
The construction works for Vienna's public transport extension has begun. The U2xU5 project, which will result in a whole new metro, the U5, and an extension of the current U2 line is set to be completed by 2026 and 2028, respectively. Austria's Federal Ministers for Finance and Climate Protection as well as Vienna's City Councillor for Public Transport took part in the groundbreaking ceremony.
January 28, 2021
Travel Austria-USA: Negative Covid-19 Test Required
The new President of the United States and the responsible departments have renewed the entry ban for European citizens. Thus, effective January 26, 2021, Austrians, Europeans and even U.S. citizens traveling to the USA need to provide a negative Covid-19 test result in order to be allowed to travel to the United States.
January 26, 2021
Investment Subsidy Program Gets Extended
The Austrian government has announced an extension of the investment period for which subsidies will be granted. The high demand for the subsidy shows that many companies are hoping for a quick recovery from the current pandemic, which secures important jobs and strengthens Austria as a business location.
January 25, 2021
Austria Extends Lockdown Until February 7
The Austrian government has announced an extension of the current lockdown until at least February 7, 2021. Due to only a very slow decline in Covid-19 cases and the virus mutations from Great Britain and South Africa, which are more contagious and spread actively through the EU, the lockdown was extended and wearing a FFP2 mask in public transport and stores will be mandatory.
January 22, 2021
Brexit Agreement: Austria's Economy Significantly Better Off
The Austrian Institute of Economic Research (WIFO) has issued a study in which the effects of the post-Brexit trade agreement between the United Kingdom and the European Union was compared to a no-deal scenario. The results of the study show that the Austrian economy be happy with the negotiated agreement.
January 14, 2021
WKO: Vaccination in Austrian Businesses Possible
Austria's companies could be used as part of the vaccination strategy. This is what many major companies and Austria's Federal Chamber of Commerce suggest. The readily available infrastructure could provide testing and vaccination facilities for up to 500,000 employees in the various industries.
January 12, 2021
Mandatory Registration for Travel to Austria
Starting on Friday, January 15, 2021, travellers entering Austria will need to be registered in order to pass the border. The quarantine obligation after entry remains in effect. The required form is available on the page of the Foreign Ministry and needs to be presented in the event of an inspection.
January 12, 2021
Eurochambres President Demands Repositioning of EU
After the post-Brexit trade deal between the EU and the United Kingdom has finally been set up, Eurochambres President Christoph Leitl demands repositioning of the European Union and does not only see negative impacts of the UK leaving the single market and the customs union.
January 11, 2021
Austro-American Society Celebrates 75th Anniversary
The Austro-American Society (ÖAG) celebrated it 75th anniversary on January 6, 2021. The Austrian Ambassador to the USA, Martin Weiss, the U.S. Embassy in Vienna, and the heads of the ÖAG used this occasion to underline the goals of the society's. These comprise the strengthening of the Austro-American relations in the aspects of social, economic, cultural and public life.
January 7, 2021
WKO: Lockdown Extension a "Blow For Domestic Trade"
Once again the Austria's Federal Chamber of Commerce (WKO) does not entirely support the federal government in its decision to extend the lockdown and cancel the opportunity to escape the lockdown with a negative Covid-19 test. The WKO demands plans for the affected companies and aid for the suppliers indirectly affected by the crisis.
January 5, 2021
Austria's Real Estate: Single-Family Houses Expensive, Offices Cheap
Also as a result of the Covid-19 crisis, living spaces with a garden, a balcony or a terrace see a significant increase in demand, while office spaces and other commercial real estate loses value. Another new aspect of the real estate market in Austria is the rise in demand for single-family houses in the outskirts of bigger cities.
January 5, 2021
Investment Agreement with China Opens Doors
The European Union and China have agreed on a joint investment agreement. The core elements of the "Comprehensive Agreement on Investment" (CAI) include better market access, sustainability and a level playing field for European and Chinese companies. Considering the fact that China will be the biggest economy of the world in the near future, the agreement opens doors to a huge market.
December 30, 2020
Schramböck: "UK Will Remain Important Partner in Europe"
Although the United Kingdom will be leaving the European Union's customs union and single market at the end of 2020, Austria's Economics Minister Schramböck assures that "Austria's companies will continue to play a significant role in the UK markets" in the future. The newly negotiated agreement between the UK and the EU will provide a proper framework for these business relations.
December 30, 2020
Impact of Internationals in Austria Remains Huge
According to recent numbers, Austria's official residence secures more almost 19,000 jobs and has an economic impact of EUR 1.35 billion gross value added. This is a significant increase from 2018 although Covid-19 has turned diplomatic relations and encounters into a virtual setting.
December 29, 2020
German Wind Farms Sold to Austrian Energy Provider
Austria's Wien Energie managed to acquire 49 percent of the wind farm portfolio of the German Encavis in Austria. This deal will further reduce the CO2 emissions of the energy company and adds an additional 37 gigawatt hours of renewable energy for households in Vienna and the surrounding area.
December 23, 2020
WKO Heads Demand Clear Plan for Path to Normality
The heads of Austria's Federal Economic Chamber demand a clear plan that shows a step-by-step path to normality. They demand regular mass testing, where negative test results are connected to more freedoms. According to them, the lockdown immediately after Christmas will hit many companies particularly hard.
December 18, 2020
ECJ Bans Exhaust Software: Anschober and Gewessler Demand Changes
The European Court of Justice has decided to ban software used to embellish exhaust emission values in diesel cars. Austria's Climate Protection Minister Gewessler and Consumer Protection Minister Anschober hope for a move by the car manufacturers in order to provide retrofits and compensate injured consumers.
December 17, 2020
European Space Agency Appoints Austrian Director General
The European Space Agency (ESA) has appointed an Austrian as its Director General. Dr. Josef Aschbacher will be taking over the position as the head of the ESA in July 2021 and will serve for four years. The Austrian has worked for the ESA several decades already and will now enter the "cockpit" of the Agency.
December 17, 2020
WKO and IV: Need for "Climate Protection with Common Sense"
The heads of the Austrian Federal Chamber of Commerce (WKO) and the Federation of Austrian Industries (IV) demand appropriate framework conditions for climate-friendly behavior instead of the race for ever higher climate targets. Both Secretary Generals want "climate protection with common sense".
December 10, 2020
International Visitor Leadership Program Celebrates 80th Anniversary
The International Visitor Leadership Program (IVLP), U.S. Department of State’s premier professional exchange program, celebrates its 80th anniversary. The program has opened doors for more than 225,000 participants from all over the globe and has connected current and emerging leaders to US culture and society.
December 9, 2020
Ryanair to Close its Base in Vienna
The low-cost airline Ryanair will be closing down its base in Vienna. According to a leaked internal report, the parent company of Austrian Laudamotion, will move the base of its three Boeing planes to a not yet disclosed European airport and close down the base on Vienna's airport.
December 4, 2020
Europe-Wide Innovation Award Goes to Wiener Linien
The Europe-wide Innovation in Politics Award 2020 goes to the research project RemiHub, coordinated, among others, by Wiener Linien and the Vienna University of Technology. RemiHub focuses on the urban parcel delivery and was already tested for different delivery services in Vienna.
December 3, 2020
EIB Group Cooperates with Hypo Vorarlberg
The European Investment Bank (EIB) has decided to support Austria's economy by unlocking part of Hypo Vorarlberg's regulatory capital. These funds will be used to invest in energy efficiency projects which are directly in line with the EIB's commitment to increasing its climate action lending.
December 1, 2020
Further Increase of Investment Subsidy
The Austrian government has decided to increase its budget for investment subsidies. The high demand for this subsidy by companies located in Austria has exceeded the expectations of the government and is therefore adjusted upwards by another EUR 1 billion in order to further promote investments into digitalization, sustainability and other sectors.
November 30, 2020
Vienna Prepares for Mass Testing
The City of Vienna prepares to test its population for Covid-19. The responsible city departments, emergency organizations, and the Austrain Armed Forces have taken measures to provide test capacities for the period from December 4 to December 13. Within this period, every Viennese resident above the age of 10 is eligible for testing.
November 30, 2020
Austria's Top Managers Launch Economy4Future Initiative
Some of Austria's top managers have launched the economy4future initiative, which focuses on the fight against climate change. The campaign wants to promote dialogue between big companies and young people in order to better shape the economic future in harmony with the resources of the planet.
November 26, 2020
Leopold Museum Receives Historically Significant Klimt Painting
The Leopold Museum of Vienna received an art-historically significant painting by Gustav Klimt. A Viennese academic couple donated the painting, which is about EUR 475,000 worth, to the museum in order to make it permanently accessible to the public and to the visitors of the museum.
November 26, 2020
WKO: Thoughts About Opening Stores on Sundays
The President of the Austrian Federal Chamber of Commerce (WKO) has expressed his thoughts about a possible opening of stores on Sundays before Christmas. This would create the opportunity for companies to equalize customer flows which they have missed out on during the ongoing lockdown.
November 24, 2020
First Austrian Swedish Innovation Exchange Day
The Austrian and Swedish government have decided to hold their first ever Austrian Swedish Innovation Exchange Day, which will try to kick-off a lasting bilateral relationship with regard to innovation, business and industry. The event will be attended by Austrian and Swedish politicians as well as representatives of the economic sector.
November 23, 2020
European Commission Approves Second Fixed Cost Subsidy
The European Commission has approved Austria's request to grant further subsidies to companies particularly impacted by the ongoing pandemic. The so-called Fixed Cost Subsidy II could cover up to 70 percent of the uncovered fixed costs and up to EUR 3 million.
November 23, 2020
International Mobility Days 2020 Held Virtually
The International Mobility Days of the Austrian Federal Chamber of Commerce are held virtually. The mobility industry is one of the fastest evolving industries and the future of transportation, especially in growing cities, is a topic that has been dominating international entrepreneurial acton for years.
November 19, 2020
Vienna Migration Conference: The Effects of Covid-19
The Vienna Migration Conference is taking place from November 16 to November 19, 2020, and can be followed online. Due to Covid-19, this year's event is held solely online and, as a matter of fact, will also examine the effects of the current crisis on migration and migration policy.
November 18, 2020
Eurochambres President Demands Rapid Measures for Businesses
At the presentation of the 28th Eurochambres Economic Survey, President of the Association for European Chambers of Commerce Leitl demands "immediate help" for businesses affected by the Covid-19 pandemic. According to him, the survey results show sharp declines in many economic indicators.
November 11, 2020
European Vocational Skills Week: Focus on Green and Digital Transition
The European Vocational Skills Week focuses on vocational education and training for environmental and digital change. Numerous online events from 38 countries can be attended to further knowledge and careers. Especially in times of economic and social hardship, obtaining new skills might provide decent recovery.
November 10, 2020
Turnover Compensation For Impacted Companies
The Austrian Ministry of Finance has issued another instrument to offset negative consequences of the second lockdown for the economy. Impacted businesses will be compensated for 80 percent of their turnover with an allegedly unbureaucratic and fast process that should help companies as uncomplicated as possible.
November 6, 2020
Austrian Airlines Goes Into Hibernation
The worsening Covid-19 situation in Europe also affects Austrian Airlines and its success in the upcoming winter months. After a summer which was better than most forecasts had predicted, the current rise of Covid-19 cases means a reduction in demand for flights in the near future.
October 29, 2020
Austrian Post Invests More Than EUR 100 Million in Turkish Subsidiary
Despite the critical tensions between the European Union and Turkey, the Austrian Post will be investing more than EUR 100 million in a Turkish subsidiary in the next five years. CEO Pölzl is confident that the separation of politics and the business aspect will be also possible in the future.
October 23, 2020
Van der Bellen at Viennale 2020: "We Need the Film"
The 58th Viennale is currently taking place despite Covid-19 and all the regulations that are in place. Federal President Van der Bellen and director of the festival, Eva Sangiorgi, both emphasize the importance of film even though the pandemic has impacted the industry dramatically.
October 23, 2020
Austrian National Bank: Exports Increase Again
Exports, excluding tourism, were above the comparable figures from 2019 for the first time in Austria since the outbreak of the Covid-19 crisis. The Austrian National Bank is confident that a second wave can be contained and that no further monetary or fiscal policy measures are needed.
October 21, 2020
First Microsoft Cloud Data Center in Austria
Microsoft has announced the establishment of Austria's first ever data center region. Chancellor Kurz says that this "represents a decisive competitive advantage" and thanks Microsoft for the commitment to Austrian companies and their employees.
October 20, 2020
Austrian Railways: EUR 17.5 Billion of Investment Until 2026
The railway system in Austria will see impactful investments in the near future. Due to a package of around EUR 17.5 billion until 2026, the Federal Government together with Austrian Railways (ÖBB) will try to make travelling and transporting by rail even more attractive to customers.
October 20, 2020
Fast News Search
This category only
