Austria and Germany - Read the latest headlines about bilateral relations in the areas of economy, business, investment, diplomacy, culture and tourism
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WIFO and IHS Foresee Economic Weakness

The two major Austrian Economic Research Institutes, WIFO and IHS, expect an economic slowdown in 2011.

January 5, 2011

Former Member of the Board of BayernLB Arrested

Gerhard Gribkowsky, whose foundation in Austria was concealed to the German judiciary and is now known, is in custody

January 5, 2011

Hypo Group: Little Enlightment Expected from Grasser and Berlin

The Chairman of the Inquiry Committee on the Hypo Group expects little gain of information by the summons of Karl-Heinz Grasser and Tilo Berlin.

January 4, 2011

Secret Foundation of BayernLB in Austria

In the hearings on the purchase of Austria's Hypo Group, a former Member of the Board of BayernLB concealed the existence of a foundation in Austria.

January 3, 2011

State Secretary for Finance: Euro-bonds as a Medium-term Strategy

The Austrian State Secretary for Finance, Andreas Schieder, does not discard Euro-bonds, against the majority view of German and Austrian politicians.

December 31, 2010

Tourists from Russia Increase

The number of Russian guests in Austria continues on the rise. A double-digit growth might even be possible again.

December 28, 2010

Austria's Export Economy is Booming

Given the high growth rates in the past year, the Austrian export economy shows itself also optimistic for 2011.

December 22, 2010

Success For Siemens Austria in Norway

The Austrian Subsidiary of the German technology group received orders of 32 ecological threepart subway-trains for the Norwegian capital Oslo.

December 22, 2010

Order for Over € 100m for Voestalpine

The Austrian steel company receives an order for over € 100m by Daimler Trucks.

December 20, 2010

JCL Logistics and Rail Cargo Austria Step into Strategic Alliance

Both logistics companies agree to establish a cooperation in groupage service. Their common target is to reach synergies in their transport network.

December 15, 2010

Bene Still Reports Losses

The Austrian manufacturer of office furniture reports an increase in sales by 10.2% in Q3 2010. Sales in Germany dropped by 18.5%. UK market perfomed well.

December 15, 2010

Austria Benefits from Low Loan Interest Rates

Because of low interest rates and spreads, Austria is able to get convenient financing on the loan market. Euro-bonds would mean significant costs for Austria.

December 13, 2010

Nowotny: No Euro-bonds Yet

Although he supports the euro-bonds in principle, the time has not come yet for the Governor of the Austrian National Bank.

December 10, 2010

Austrian Economic Chamber Supports Development of the Danube as a Transportation Route

Austrian Economic Chamber President Christoph Leitl supports the EU's Danube region strategy to expand infrastructure between the Danube countries.

December 10, 2010

Bavaria: "Hypo-Sale was Correct"

The issue Hypo Alpe Adria preoccupies not only the Austrian justice: Bavaria's Prime Minister Horst Seehofer defended the sale to Austria.

December 8, 2010

Austrian Resistance Against Euro Bonds

Massive criticism comes from Germany, the Netherlands and Austria against the proposal to implement euro bonds to stabilize the currency in the EU.

December 8, 2010

Strong Growth in Foreign Trade

In the first nine months, Austria imported goods for € 82.45bn (+14.8%). Exports increased by 5.8% to € 79.69bn.

December 8, 2010

Nowotny Pleads for Euro-Bonds

The governor of the Austrian National Bank, Ewald Nowotny, is for the introduction of euro-bonds. Germany’s resistance is pre-programmed.

December 6, 2010

Hypo Group: Motives for Purchase of BayernLB Unexplained

In 2007, when the Carinthian Hypo Group Alpe Adria was sold to the BayernLB, there were many critical technical opinions. The Bavarians bought despite them.

December 5, 2010

Stuttgart21: Strabag and Porr Hope for Major Project

The two Austrain building companies, Strabag and Porr, are struggeling for the disputed major infrastructure project in Germany, Stuttgart 21.

December 2, 2010

Massive Lay Offs at Hypo Group

The still ailing Carinthian bank restructures the leasing division. 500 jobs are being cut.

November 30, 2010

Encouraging Development of Austrian Tourism

The summer 2010 season ended successfully: the number of guests reached an all-time high record of 17.9 million, 62.5 million overnight stays are the best value since 1995.

November 24, 2010

F-Star Acquired Major Order

The Vienna-located f-star and Boehringer Ingelheim to collaborate in discovery and development of therapeutic antibodies.

November 23, 2010

OMV Sells 56 Gas Stations to PKN Orlen

56 gas stations in the German states of Thuringia and Saxony go to a subsidiary of the Polish oil group PKN Orlen.

November 19, 2010

Austria's Exposure in Ireland: 3.4 Billion Euro

Since September 2009, Austrian banks have halved their exposure in Ireland. The most affected countries are the United Kingdom and Germany.

November 15, 2010

ATX: Institutional Investors Remain a Central Component

According to a study from Ipreo, especially Anglo American institutional investors are involved in ATX companies in addition to Austrian investors.

November 15, 2010

Manufacturing and Export Trade are Growth Driving Forces

Austria's export sector and the manufacturing industry will benefit in particular from the strong economy situation in Germany. The labor market continues being animated, particularly manufacturing industry-related areas.

November 5, 2010

Trichet Succession: The Austrian Nowotny Has Chances As Outsider

The European Central Bank (ECB) will appoint a new president in November 2011. The favorites are the German Axel Weber and the Italian Mario Draghi. But Nowotny has outsider chances.

November 5, 2010

Working Time Flexibility Prevented Mass Unemployment

During the crisis, many German and Austrian companies flexibilized the working hours of their employees. These measures helped to ease the labor market situation.

November 4, 2010

AUA: Deficits Must Go

Austrian Airlines, bought in 2009 by German Lufthansa, are now working with profit at operational level. But restructuring of long haul routes is proving to be particularly difficult.

November 3, 2010

Hypo-Group Changes Board of Austrian Subsidiary

Hypo Alpe Adria makes new appointments to the Executive Board of the Austrian banking subsidiary Hypo Alpe-Adria-Bank AG.

November 2, 2010

Andritz Acquires RITZ Pumpenfabrik, Germany

International technology Group ANDRITZ has signed a contract to acquire the German company RITZ

November 2, 2010

The Next Acquisition: STRABAG Buys Gaul-Group

The German Gaul-group, a regional market leader for construction materials, has been bought by STRABAG for strategic reasons.

October 20, 2010

Wienerberger Signs Agreement to Acquire Steinzeug Abwassersysteme

Planned acquisition of worldwide market leader and Europe’s largest producer of clay pipe systems

October 20, 2010

Hypo-Group: Bavarian Lawsuit Against Carinthia

The balance sheet of the Hypo Group -nationalized in 2009- was artificially inflated, according to the accusation from Bavaria.

October 18, 2010

OeNB Governor Nowotny Contradicts the Deutsche Bundesbank

"The ECB should not give up purchasing bonds". Although the bond purchase program of the ECB was not needed in recent weeks, Nowotny wants to go on having it "in reserve”. The German Bundesbank warns of a too late withdrawal.

October 13, 2010

Chip Manufacturer Infineon: Revalorization of the Development Center Graz

The German chip maker based in Villach is bundling competencies. All future research on tire pressure sensors will be made at the Infineon Development Center Graz with 250 employees.

October 8, 2010

Qualified Workforce: Austria’s Target is to Attract Skilled Immigrants

ÖAAB General Secretary Lukas Mandl: "Germany has long been an immigration country. Austria also has to become one. Austria’s target should be to attract skilled immigrants, after identifying the needs."

October 6, 2010

Hypo Alpe-Adria: 25% of the Slovenian Merkur DIY Chain Put Up for Sale

Hypo Alpe-Adria-Bank International has put up for sale a 25% share of Merkur, the insolvent Slovenian DIY and home improvement products chain, in the daily newspaper "Delo”

October 5, 2010

Energieallianz Austria Creates Subsidiary in Germany

Renewable energies are a rising trend. This has been recognized by the domestic Energieallianz Austria(EAA), a subsidiary of the energy provider for Vienna, Lower Austria and Burgenland.

September 30, 2010

Magna: Rapprochement to Opel through Astra-order

Magna will take over the development of a new Opel Astra model. Just a year ago, Magna attempted to acquire the whole German GM subsidiary, but the takeover was aborted by General Motors.

September 29, 2010

EU: Austria's Actual Net Contribution has Risen to 342 Million Euro

The net contribution to the EU rose again last year. Poland, with 6.5 billion euro is for the first time the biggest net recipient. Germany remains the biggest net payer with 8.1 billion euro.

September 28, 2010

BayernLB has to Wait 7 Years for 3.9 Billion from Carinthia

After the debacle of the Hypo Group Alpe Adria (HGAA), the Bayerische Landesbank will have to wait up to 7 years for the repayment of the 3.9 billion euro. The repayment plan provides for this period.

September 28, 2010

MTH Handels-Holding of Josef Taus permitted to acquire German retail chain Mäc-Geiz

The sale of the insolvent German retail trade chain Mäc-Geiz has been completed. Anti-trust authorities have approved the takeover of the German company by MTH Handels-Holding GmbH (Vienna) controlled by the Austrian industrialist Josef Taus.

September 23, 2010

Hypo Alpe Adria: Greek Entrepreneur Xeniadis Signals his Interest in Buying

The Greek businessman Vasileios Xeniadis is prepared to offer 1.35 billion euro for Hypo Alpe Adria.

September 16, 2010

Bauhaus arrives in Bulgaria via Vienna

The German do-it-yourself group Bauhaus, which controls all its CEE business from Austria, has ambitious plans for Bulgaria.

September 10, 2010

Hypo Alpe-Adria-Bank - The new Group Press Officer

Dominic Köfner to take on the role of Group Press Officer for Hypo Alpe-Adria-Bank International AG (HGAA)

September 9, 2010

Zotter intends to conquer German cities

The Styrian chocolate maker Josef Zotter wants to open chocolate shops in the German cities of Berlin, Hamburg and Munich. He is currently looking for experienced franchise partners.

September 9, 2010

Opel - Plant in Vienna Aspern provides EUR 10.6 million per year to Germany

The staff of the automotive plant of General Motors in Aspern provides around EUR 10.6m p.a. for the reorganization of German car producer Opel

September 3, 2010

UBM with slightly improved results

Focus on hotels and housing, regional focus remains on Poland and Germany.

August 31, 2010
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