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France in Austria | French citizens in Vienna | Bilateral Relations
Austria and France - Read the latest headlines about bilateral relations in the areas of economy, business, investment, diplomacy, culture and tourism
Austria to Support China's "Asian Infrastructure Investment Bank"?
The Austrian Finance Ministry confirmed that Austria will participate in the China-proposed Asian Infrastructure Investment Bank (AIIB) project after receiving the appropriate approval from the government. Now it checks for a potential engagement. China is taking matters into its own hands. It will use the new bank to expand its influence at the expense of America and Japan. Its decision to fund a new multilateral bank reflects its frustration with the slow pace of global economic governance reform. China is the biggest economy in Asia, but the Asian Development Bank (ADB) is still dominated by the Japanese: Japan’s voting share is twice China’s and the ADB’s president has always been Japanese. Also, reforms to give China more say at the International Monetary Fund (IMF) have been delayed for years.
March 27, 2015
Background: The New "Asian Infrastructure Investment Bank"
The Asian Infrastructure Investment Bank (AIIB) is regarded by some as a rival for the IMF, the World Bank and the Asian Development Bank (ADB), which are regarded as dominated by developed countries like the United States. AIIB is an international financial institution proposed by the government of China. The purpose of the multilateral development bank is to provide finance to infrastructure projects in the Asia region. Austria recently said, that it is "positive" and that it "now checks for a potential engagement".
March 27, 2015
Analysis: Crash of Germanwings Flight 9525 - Investigation and Latest Responses
Yesterday Germanwings Flight 9525 from Barcelona to Düsseldorf, an Airbus A320-200, crashed around 100 kilometres (62 mi) northwest of Nice, in the French Alps. All 144 passengers and six crew members died. People on board by nationality were: Germany 67, Spain 45, Kazakhstan 3, Mexico 3, Argentina 2, Australia 2, Colombia 2, Croatia 2, Japan 2, Morocco 2, Belgium 1, Denmark 1, Israel 1, Netherlands 1, Turkey 1, United Kingdom Several (unconfirmed), and unknown 15. The aircraft had reached its cruising altitude, flight level 380 (approx. 38,000 ft [12,000 m]) at 9:27 GMT. Three minutes later the aircraft began its descent - the purpose of the descent is not currently known. 14 minutes after the initial descent, radar contact with the aircraft was lost. Meanwhile the first cockpit voice recorder was recovered by rescue workers and is being examined by the investigation team. The recorder was damaged in the crash, but was said to be still in a "usable" condition. The search for the flight data recorder was to be a priority when the recovery operation resumed. It is the third-deadliest crash of an Airbus A320, after TAM Airlines Flight 3054 and Indonesia AirAsia Flight 8501, and the third-deadliest aviation disaster on French soil, after Turkish Airlines Flight 981 and Inex-Adria Aviopromet Flight 1308. Unusually, the plane appears not to have deviated from its flight plan during its descent.
March 25, 2015 · Updated: March 26, 2015; 14:30
German Wings Crash: No Austrians or Transit Passengers to Vienna Were Aboard
It is believed that no Austrians or direct transit passengers to Vienna were aboard the crashed Germanwings plane. "None of the passengers from Düsseldorf held connecting flights to Vienna, so we believe this tragedy has not affected any Austrians. However, we do not as yet have a passenger list of those who were on the flight," Lufthansa said.
March 24, 2015 · Updated: March 26, 2015; 10:45
Update: Germanwings Crash - Two Iranian Journalists on Transit to Vienna among Victims
It has been confirmed that two transit passengers to Vienna were aboard the crashed Germanwings plane Flight 9525. Reuters reports that the two Iranian dead are sports journalists who were travelling to watch their national team play Chile in Sankt Pölten tomorrow. The two men had earlier travelled to Barcelona to cover a match between Barcelona and Real Madrid.
March 25, 2015
German Airliner with 150 People Crashes in Southern France
An Airbus A320 airliner of German low-cost airline Germanwings crashed in the French Alps near Digne carrying 144 passengers and six crew members. "All 150 feared dead" says Fancois Hollande. It is unclear whether Austrian passengers were on board.
March 24, 2015 · Updated: March 24, 2015; 14:45
Quality of Living Rankings: Vienna Tops the List Again
Vienna remaines at the top of the 2015 Quality of Living Rankings, boasting the best quality of living for expatriates. In the top 5 there are two other European cities, Zurich (place 2) and Munich (place 4). Also Auckland (3rd) and Vancouver (5th) are among the top five cities.
March 4, 2015
Global Peace Index: Austria is Third Most Peaceful Country
The latest Global Peace Index analyses the state of peace around the world. It identifies the most and least peaceful countries, trends in violence and conflict, and calculates the economic impact of violence. The top three most peaceful countries are Iceland, Denmark and Austria. Small and stable democracies make up the top ten most peaceful countries. New Zealand, Canada and Japan are the only non-European countries in the top ten.
March 4, 2015
Austria is Celebrating 60 Years of United Nations Membership in 2015
Austria became a member of the United Nations in 1955 and is celebrating 60 years of UN membership in 2015. 70 years ago, the United Nations were founded in San Francisco.
February 5, 2015
Vienna is Among the Top 10 Startup Cities Where Entrepreneurs Want to Meet Up
A search engine for finding entrepreneurs to meet up with has published a list of the top 10 international startup cities. Vienna made it to number six. Continue reading to see the full ranking of the top international startup cities where entrepreneurs want to meet up.
February 4, 2015
Valneva Completes EUR 45 Million Capital Increase
The listed biotechnology company Valneva SE announces the completion of its capital increase with shareholders preferential subscription rights launched on January 12th, 2015. Valneva estimates net proceeds of EUR 42 millions from 18.2 million offered new shares. The new ordinary shares will be traded on Euronext and on the Prime Market segment of the Vienna Stock Exchange. The financing will mainly be used for the acquisition of Crucell Sweden AB and all assets, licenses and privileges related to Dukoral.
February 4, 2015
George Soros: "A New Policy to Rescue Ukraine"
Soros is calling on members of the European Union to behave as countries indirectly at war with Russia and to provide Ukraine with $50 billion to defend itself and kick-start political reforms. Russian President Vladimir Putin's imperial ambition has unintentionally brought into being a new Ukraine that is adamantly opposed to endemic corruption and inefficient government. By offering assistance, Europe can foster an open society in Ukraine and protect itself from Russian aggression.
January 22, 2015
Vienna Congress comsult 2015: "Power of Regions"
“Power of Regions“ is the topic of the Vienna Congress com•sult 2015 which is taking place today at Vienna's House of Industry. Distinguished participants from industry, politics and the business community such as F.W. de Klerk, Mohamed El Baradei, Author Benjamin R. Barber, Václav Klaus and Iain Begg are discussing the principle of regionality and its future in Europe.
January 20, 2015
Huber Holding Acquires French Premium Men Lingerie Maker
Huber Group, the Götzis/Vorarlberg based lingerie maker has acquired the French premium brand Hom for men from Triumph Group to target the upmarket male underwear category.
January 19, 2015
Ivica Dačić in Vienna: Serbia Takes Over OSCE Chairmanship from Switzerland
The new OSCE Chairperson, Serbia’s Foreign Minister Ivica Dacic, spoke today at the inaugural Permanent Council meeting of Serbia's OSCE Chairmanship Vienna. He revealed his Chairmanship priorities pledging to rebuild trust and confidence in the OSCE region of 57 participating states.
January 15, 2015
"Together Against Terror": Commemorative Event at the Vienna Ballhausplatz
More than 10,000 people gathered in Vienna as part of the commemoration of the victims of the terrorist attacks in Paris.
January 13, 2015
Government Debt Increased to 82.6% of GDP in Austria and to 92.7% in Euro Area
At the end of the second quarter of 2014, the government debt to GDP ratio in the euro area (EA18) stood at 92.7%, compared with 91.9% at the end of the first quarter of 2014. Austria's government debt rose to 82.6 percent of GDP in Q2 2014 from 81.3 percent in Q1.
October 23, 2014
Poland's Donald Tusk to Become European Council President
Current council president Herman Van Rompuy tweeted the announcement from the EU summit. Mr Tusk, Poland's centre-right prime minister since 2007, will become the European Council's president. Italy's Federica Mogherini, a centre-left politician and foreign minister will replace the UK's Catherine Ashton as EU foreign policy chief.
August 30, 2014
Analysis: Russia - Assessment of EU and Tightened US Sanctions
Special analysis covering the most recent escalation in terms of Western economic and financial sanctions against Russia: EU and US sending bold diplomatic signals without inflicting too much near-term economic and financial damage. In comparison to the US sanctions by the EU are capped in duration. Recent escalation adds to uncertainty in doing business with Russia, which is an ultimate goal of sanctions. Near-term impact of current sanctions still limited, which implies a risk that they may remain for longer.
July 31, 2014
Austrian FDI: Current Developments 1Q 2014
In the first quarter of 2014, Austrian FDI abroad reached a value of 2.8 billion euros, which is less by about 30% than in the same period of 2013. Foreign direct investments in the same period into Austria stood at 1.4 billion euros. This is about 37% less than in the same period of last year.
July 29, 2014
Cost of Living Rankings: CEE Capitals Cheaper, Vienna is 32nd Most Expensive City
The Mercer's 2014 Cost of Living Rankings have been published and cover 211 cities across five continents. While Western European cities have all risen in the rankings mainly due to the strengthening of the Euro against the US dollar, most cities in Central and Eastern Europe (CEE), however have fallen in the ranking as a result of local currencies depreciating against the US dollar. Bratislava (#84), Prague (#92), Kiev (#98), Ljubljana (#116), Zagreb (#120), Budapest (#135), Warsaw (#142), Belgrade (#184).
July 25, 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
Switzerland: IMD Releases the World Competitiveness Yearbook Ranking 2014
The US leads, Europe recovers, and big emerging markets struggle.
May 22, 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
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
CEE: Surge in Sales for French Lafarge
The French building material group Lafarge saw a strong increase in sales in Romania and Eastern Europe in general.
May 9, 2014
Michelin to Downsize in Hungary
French tyre producer Michelin announced to shut down ist tyre plant in Budapest and relocate to Romania.
May 9, 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
Poland: BNP Paribas Bank Polska Hopes for Higher Profits
Because of the merger with BGZ Bank BNP Paribas Bank Polska, the Polish branch of the French financial giant, expects a growth of return on equity (ROE) in the double-digit figures.
April 24, 2014
Romania: BRD Group Societe General with High Expectations
The Romanian lender intends to increase its lending by four percent in 2014.
April 23, 2014
Struggling Insurance Industry
Despite favorable results last year the European insurance market has to face a number of adverse factors.
April 23, 2014
Austria: Fitch Warns Banks of Risk with Business in Russia
The menacing sanctions against Russia with regard to the political crisis in Crimea could become a severe danger for Austrian banks.
April 1, 2014
S&P: European Banking Sector Faces Worse Ratings
According to the rating agency, the public support for the European banking sector is essential in many cases. Without financial support, banks might be downgraded.
March 5, 2014
Austrian Banks with Significant Exposure in Ukraine
Ukrainian crisis hits Western Banks in different state compared to 2008/09, according to RBI.
February 27, 2014
Foreign Banks Leaving Bulgarian Market
In the past three years three non-domestic banks have left the Bulgarian market.
January 24, 2014
CEE: Insolvencies Declining But Larger Effect
The number of insolvencies in Central and Eastern Europe (CEE) is declining. However, the individual insolvencies are becoming larger, as reported by French credit insurer Coface.
January 23, 2014
Bank Austria Generates Fresh Capital
On Monday, January 13, UniCredit Bank Austria issued its first mortgage bond for 2014 to strengthen its capital base.
January 14, 2014
European Union: Private Trading of Banks to be Restricted
The European Union intends to severly restrict risky private trading of banks.
January 7, 2014
AXA Leaves Hungary
Austrian Vienna Insurance Group takes over 100% of AXA Hungary.
December 27, 2013
No Major Progresses in Banking Union
Tuesday night the Finance Ministers of the European Union have gradually approached on the outstanding issues in the handling with banks threatened by bankruptcy.
December 11, 2013
Poland: BGZ Bank Taken Over by BNP Paribas
Polish BGZ Bank will be taken over by French BNP Paribas for a selling price of around € 1bn.
December 5, 2013
Hungary: Economic Acceleration Takes Form
According to French BNP, the Hungarian economy starts to grow again. Nevertheless, the banking industry does not face better times yet.
November 29, 2013
Eurozone: Nouy New Manager of ECB’s Banking Suvervision
Daniele Nouy will become the new head of the ECB’s banking supervision.
November 21, 2013
Austrian Banking Sector: NPL at Eurozone´s Top
In the Eurozone, the non-performing loans are still growing. In total, 7.8% of the loan portfolio is risky. Austrian banks are significantly above the average.
October 30, 2013
Eurozone: Economy Starting to Grow
Experts at Ernst&Young; forecast economic growth of 0.9 percent in 2014 in consequence of an improved global economic performance.
October 21, 2013
Austria Remains Main Investor in Slovenia
Last year, almost the half of the foreign direct investments in Slovenia came from Austria.
October 11, 2013
Austria: Weak Growth Impulses
Today, the Austrian Institute for Economic Research (Wifo) has corrected the economic outlooks for Austria downwards. Growth impulses have been very weak so far.
September 10, 2013
Erdogan Considers Leaving U.N.
Turkey´s Prime Minister Recep Tayyip Erdogan puts pressure on the United Nations. The representation of the Security Council is not balanced, Erdogan criticizes.
August 26, 2013
Eurozone: Strongest Growth Rates in Two Years
The Eurozone continues to recover. Businesses in industrial production and in the service sector increased to a new high in more than two years. However, growth in both sectors is still not enough for the creation of new jobs.
August 22, 2013
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