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Austria and Germany - Read the latest headlines about bilateral relations in the areas of economy, business, investment, diplomacy, culture and tourism
Oberbank Satisfied with 2011 Results
The Austrian Oberbank achieved “excellent“ results last year, CEO Gasselsberger stated. Profits were up by 5.5%.
January 17, 2012
Signs for Economic Stabilization
The Austrian Central Bank (OeNB) sees signs that the economic downturn trend can be stopped. A small growth in 2012 could be possible.
January 17, 2012
Metro Cancels Kaufhof Sale
The Austrian real estate investor René Benko has to abandon the plan to take over the German retail chain Kaufhof.
January 17, 2012
Berlin as New Growth Market for CA Immo
In 2012, the Austrian real estate company plans anInvestment volume of about € 300 m in Frankfurt and Berlin.
January 17, 2012
Billa Has Growth Plans in Russia
The Austrian subsidiary of German Rewe Group intends to take over the Russian competitor Citystore.
January 16, 2012
Hutchinson Acquired Orange
The Chinese telecommunication operator takes over Frenche Orange. The acquisition price totals € 1.0bn.
January 14, 2012
Austria to Lose its AAA
According to partially confirmed market rumors, S&P will downgrade France and Austria.
January 13, 2012
OMV Starts Downsizing Operations
The Austrian oil and gas company starts to reduce the weighting of the Refining and Marketing (R&M) business segment in the overall portfolio.
January 13, 2012
Unions Protest Against AUA´s Plans
Austrian trade unions are strictly against new austerity measures at Austrian Airlines. Management wants to negotiate over new collective agreements.
January 12, 2012
Pankl Takes Over German Automotive Company
The Austrian automotive and racing company Pankl acquires the German specialist Huber, which is located in Munich.
January 11, 2012
3.4% Passenger Increase for AUA
According to Austrian Airlines traffic results, more than 11 million passengers were carried in 2011.
January 11, 2012
CA Immo Completes Tower 185 Project in Frankfurt
Rental premises in the tower were simultaneously handed over to PwC, the principal tenant. The total investment in Tower 185 stands at approximately € 450m.
January 11, 2012
Austrian Airlines Records High Losses
Against previous expectations, the Austrian subsidiary of Lufthansa could not improve its results in 2011 compared to 2010.
January 10, 2012
Immofinanz Closes Leasing Contract With Leonardo Hotels
The Austrian real estate group enters an agreement with the German subsidiary of the Israeli Fattal International Hotel Chain.
January 9, 2012
Austerity Package: AUA in Difficulties
The implementation of further austerity measures faces resistance. Moreover, competition for Austrian Airlines becomes even stronger.
January 7, 2012
T-Mobile and Hutchinson 3G Become Partners
The Austrian subsidiary of the German T-Mobile and the Chinese Hutchinson 3G closed an agreement over a long-term grid partnership.
January 5, 2012
Germany Calls for Austrian Electricity
In order to guarantee stability of the German power grid, Austria has to export more electricity to Germany.
January 5, 2012
Thomas Cook Austria Achieves Record Result
The Austrian subsidiary of the Germany Thomas Cook AG recorded a rise in operating profits by 19% in 2011.
January 4, 2012
Worsening Economic Outlook for 2012
Economists and analysts expect a massive fall in Austrian economic growth for 2012.
January 4, 2012
Tyrol Equity Takes Over German RSN Sihn
The Austrian investment company acquired 50.1% in the German automotive supplier company RSN Sihn.
January 2, 2012
Slight Decrease in Unemployment
In December 2011, the Austrian unemployment rate was 8.2%, which is slightly below the previous year´s level.
January 2, 2012
Voestalpine Involved in Further Cartel
According to German newspaper reports, the Austrian steel producer is involved in another cartel in the rail market.
December 28, 2011
Rising Market Share for Porsche Holding
The Salzburg-bases Porsche Holding announces that more than every third sold car in Austria comes from the VW/Porsche Group.
December 28, 2011
New Record for Austrian Wine Exports
Although the quantity of wine exports is shrinking steadily, the export volume worth € 126m reached a new record.
December 28, 2011
Emco With Growth Plans
The new owner of the former A-Tec subsidiary, now can begin to realize its expansion plans.
December 27, 2011
Strabag Group Expands Range of Services with Structural Timber Engineering
The German subsidiary Züblin gains access to the field of timber construction through an acquisition.
December 23, 2011
Record-Breaking Start of Tourism Winter Season
Austria’s tourism industry registered 3.98 million overnights in November. Arrivals rose by 3.5%.
December 23, 2011
Lenzing Group and smartfiber AG Intensify Their Cooperation
The Austrian fiber manufacturer takes over production of two specialty fibers from its German cooperation partner.
December 21, 2011
VBAG Sells Insurance Segment
The Austrian Volksbanken AG sells its stake in Victoria Volksbanken to Ergo Austria.
December 20, 2011
Benko Relieved from Money Laundering Accusations
Investigations against the Austrian real estate investor will end soon, German newspapers report. Benko bids for Metro´s subsidiary Kaufhof.
December 20, 2011
Kaufhof-Deal Not Closed Before 2012
The two main competitors for the German retail chain are the Austrian real estate investor René Benko and the U.S. investor Nicolas Berggruen.
December 17, 2011
Plansee Group Sells PMG
The Austrian provider of metallurgically manufactured products sells the business division to a German asset management company.
December 16, 2011
Siemens Austria Expands in China
Siemens Metals Techologies enlarges its production facilities in China. Investments of $ 80m are expected.
December 14, 2011
AUA Sharpens Austerity Measures
The Viennese business location Austrian Airlines, a subsidiary of Lufthansa, has to become cheaper, says Lufthansa´s CEO Franz.
December 14, 2011
Kaufhof: Investigations Cause Delay in Sale Process
Suspicions of money laundering against the Austrian real estate investor René Benko prevent the take-over for the time being.
December 13, 2011
Vienna International Considers IPO
The Austrian hotel operator aims to be quoted at Vienna Stock Exchange in the medium run. Further growth is planned.
December 12, 2011
Infineon to Invest in Austria
In spite of the weak economic forecasts, the German semiconductor producer wants to invest further in the Austrian business location.
December 12, 2011
Immofinanz Sells Project in Germany
The Austrian real estate group sells its stake in a project in Düsseldorf in order to grow in Russia and Poland.
December 12, 2011
AUA to Strengthen Presence in Austria
Austrian Airlines, the subsidiary of the German Lufthansa, refocuses on the Austrian home market. Flights to provincial airports should be extended.
December 8, 2011
Kaufhof: Benko Offering € 2bn?
The Austrian investor decisively rejected reports that suggested this acquisition price. Metro’s CEO wants to obtain € 2-3bn.
December 8, 2011
Economic Stability: Austria Occupies Top Rank
According to a study by Allianz, Austria has the third rank among the EU countries.
December 7, 2011
Benko Confirms Binding Offer
Both Metro Group and René Benko´s Signa Holding confirmed that a binding offer for Metro´s subsidiary Kaufhof has been put.
December 6, 2011
Increasing Gap in Incomes
Although Austria´s Gini coefficient is relatively low, the gap between high and low incomes becomes larger.
December 6, 2011
Only Small Increase in Exports in 2012
After a substantial growth in 2011, OECD expects only a slight rise in Austrian exports.
December 6, 2011
Zumtobel Registers Profits Decrease
The Austrian light technology company reports an increase in revenues by 8.4% in the first half year. EBIT was down by 10.1%
December 6, 2011
Kaufhof: Benko Is Preferred
According to the seller, the German Metro Group, the Austrian real estate investor has good odds. Benko will submit a binding offer soon.
December 5, 2011
Hypo Group: € 3.0bn Debts at BayernLB
The nationalized Hypo Group is still massively indebted at its former holding company, the German BayernLB. The loan will be due by the end of 2013.
December 3, 2011
Porr Considers Capital Increase
In order to realize further growth, the owners of the second-largest Austrian construction company plan to raise the equity base.
December 3, 2011
Legal Success for Bank Austria
A Swiss court granted the bank’s appeal against an obligation to pay € 245m to a German public body.
December 2, 2011
New Savings Package for Austrian Airlines
The Austrian carrier will not receive financial support from its parent company Lufthansa. Staff reductions are not ruled out any longer.
December 2, 2011
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