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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

Strabag: Major Contract in Hamburg, Germany

STRABAG Real Estate and Otto Wulff awarded contract for Hamburg’s € 700m college project.

September 4, 2012

Further Increase in Unemployment

At the end of August 2012, 289,000 persons were looking for a job in Austria. At the same time, employment still grows.

September 3, 2012

Next Pension Reform Ahead

European Forum Alpbach: In 2016, the next pension reform may be necessary in Austria.

September 1, 2012

EU Budget Proposal “Excessive” for Austria

EU multiannual budget 2014 – 2020 negotiated in Cyprus: Austria underlines its position as net contributor.

August 31, 2012

Debt Crisis: “Somebody Will Have to Pay”

European Forum Alpbach 2012: Andreas Treichl, CEO of Erste Group thinks that the internationalization of the banking industry cannot be reversed. According to Treichl, the European citizens will have to pay for the crisis.

August 30, 2012

Austrian Industry Promotes Employment of Older Workers

The Federation of Austrian Industries (IV) argues that the state budget may reduce pension costs by € 7.4bn if the reforms of Germany were implemented in Austria too.

August 29, 2012

Eder: „We are Cautious“

Wolfgang Eder, CEO of the Austrian steel company voestalpine, thinks that the market conditions will remain difficult.

August 27, 2012

Strabag: CEO Haselsteiner Is Said to Consider Delisting

The Austrian construction group Strabag may withdraw from Vienna Stock Exchange. “We do not need the stock exchange now.” He says in an interview with “Wirtschaftsblatt”.

August 27, 2012

Austrian Guarantees Total € 80bn

In the worst case, Austria´s public debt quota may increase up to 100%, the Austrian opposition warns.

August 27, 2012

Declining Real Income: UBS Defends Report

Paul Donovan, author of the controversial study, was criticized by Austria´s Central Bank and Bank Austria. Donovan underlines that his study is correct.

August 24, 2012

Verbund Invests in German Wind Power

With the acquisition of five wind farms in Germany, the Austrian energy company enlarges its hydropower portfolio.

August 23, 2012

Exclusion from the Eurozone: Westerwelle Supports Spindelegger

The German Minister of Foreign Affairs Guido Westerwelle thinks that a breach of contract should lead to the exclusion from the Eurozone.

August 22, 2012

Allianz Austria: Stable Earnings and Rising Premium Income

In the first quarter of 2012, Allianz Austria recorded a 24% slump in earnings. Pre-tax profits grew slightly.

August 21, 2012

Global Increase in Direct Investments made by Austrian Companies

In addition to CEE/SEE countries, growth in Austrian direct investments was also seen in Germany, Russia and Turkey.

August 21, 2012

Austrian Work More than EU Average

According to a report of the Germany Statistical Office, Germans and Austrians tend to work more. The relevance of leisure is shrinking.

August 20, 2012

Verbund: Sale of Enerjisa May Bring Synergies

The German energy group eon is said to be interested in Verbund´s stake in the Turkish Enerjisa. In exchange, Verbund should receive hydro power plants in Southern Germany and Austria.

August 20, 2012

Daimler Said to Double Production in Hungary

The Germany automobile producer may enlarge its production facilities in Hungary massively.

August 20, 2012

Austrian Real Income Fell Dramatically

Economists often say that Austria has benefitted from the euro. According to a study of UBS, Austria has lost a substantial degree of prosperity, however.

August 20, 2012

Hypo Group: Major Risk Factor for BayernLB

The former owner of Hypo Group Alpe Adria, which was nationalized in 2009, may write down up to € 3.1bn.

August 18, 2012

Does the Euro Collapse Now? (Part 2)

The nervousness among Europe´s leaders is growing. Not only Finland warns of a breakdown.

August 18, 2012

Verbund to Sell Stake in Enerjisa?

The German energy group eon is said to be interested in Verbund´s Turkish interest.

August 17, 2012

Switzerland: „Austrian Tax Deal Will Withstand“

The Swiss Parliament´s President Hans Altherr thinks that the Swiss tax deal with Austria will withstand a popular vote.

August 16, 2012

Stronach Enters Political Stage

The Austro-Canadian industrialist Frank Stronach founds his own party and intends to run for the next election in 2013. Stronach wants Austria to leave the Eurozone.

August 13, 2012

Tax Deal with Switzerland in Doubt

After a CD containing data of foreign tax evaders was bought by German authorities, Switzerland may hold a popular vote on the tax deal with Austria.

August 13, 2012

Fewer Passengers at Austrian Airlines

AUA´s capacity utilization rose substantially. Against July 2011, the number of passengers was down by 5.6%.

August 9, 2012

conwert takes over residential portfolio in Berlin

Residential property portfolio acquired at high two-digit million amount . Economies of scale possible through significant expansion of conwert’s portfolio in Berlin

August 9, 2012

Hungary: Most Foreign Firms from Austria

In Hungary, foreign companies employ 25% of the workforce. However, the share of foreign companies only reaches 3.3%

August 7, 2012

„Dayli“: Up to 20% Yield

With the acquisition of Schlecker Austria, the Austrian investment funds TAP 09 wants to achieve the turnaround soon.

August 2, 2012

Surprising Profit at AUA

Due to special items, Austrian Airlines could achieve positive results in the first half year of 2012.

August 2, 2012

AUA: Auditors Found Inconsistencies

In 2007, Austrian Airlines should not have recorded a profit, but a substantial loss of € 235m, auditors says.

July 31, 2012

Bankruptcy Prevented: Schlecker Austria Becomes „daily“

The Austrian investment funds TAP 09 acquires the financially stricken chemist chain. Schlecker Austria should become a local grocer.

July 31, 2012

Despite Approved Orange Takeover: Deal is Uncertain

Canning Fok, CEO of the Hong Kong-based telecommunication operator is surprised of the announcement oft he authorities to examine the deal between Orange, Hutchison and Telekom Austria thoroughly.

July 30, 2012

Schlecker Austria to be Rescued?

The Austrian subsidiary of the bankrupt German chemist chain and its subsidiaries in Poland, Italy, Belgium and Luxembourg may be continued.

July 30, 2012

Austria is Liable for Hypo Group´s Major Loan

At the sale of Hypo Group by BayernLB in late 2009, BayernLB granted a loan of € 2.64bn. The Austrian state has issued a guarantee for this loan.

July 27, 2012

New Hope for Nabucco West

The Aseri Minister of Energy Natik Aliyev thinks that Nabucco West would be better than the rival project TAP.

July 27, 2012

„AUA Must Be in the Black Numbers“

For Austrian Airline´s CEO Jaan Albrecht, the implementation of the austerity program and the transfer of undertaking is mandatory.

July 26, 2012

Nowotny Wants Bank License for ESM

The governor of OeNB (Austrian Central Bank) Ewald Nowotny told the news agency Bloomberg that there would be some good reasons for this solution.

July 26, 2012

Former AUA Board Member Bierwirth Enters T-Mobile

Andreas Bierwirth becomes CEO of T-Mobile Austria. The current CEO Robert Chvatal leaves the company for “personal reasons”.

July 25, 2012

Schlecker´s Financial Situation Becomes Critical

Schlecker Austria, the subsidiary of the insolvent German chemist chain, is becoming more and more problematic. The liquidity is said to be used up in a few days.

July 25, 2012

Moody´s to Watch Austria Carefully

After the U.S. rating agency has lowered the outlook for the AAA-countries Germany, Netherlands and Luxembourg, Austria´s rating will be checked thoroughly.

July 24, 2012

Siemens Austria to supply Electrical Works to Indian BMM Ispat

The Indian steelmaker BMM Ispat Ltd. ordered the core systems for an electrical steel plant from Siemens VAI Metals Technologies.

July 23, 2012

Staff Efficiency: CESEE Catches Up

Regarding staff efficience, Eastern Europe has reached almost the West European level.

July 21, 2012

MTH Takes Over Schlecker´ Subsidiary

MTH, the investment company of the Austrian industrialist Josef Taus acquires 109 branches of IhrPlatz, a subsidiary of the insolvent German chemist chain.

July 20, 2012

CA Immo Continues Sales in Berlin

The planned liquidation of land reserves in Berlin by the Austrian property company CA Immo is gathering pace.

July 20, 2012

OMV: No Withdrawal from Germany

The Austrian oil company and petrol station operator will not sell the petrol station business in Germany. By contrast, the downsizing program in the SEE region and in the Czech Republic will be continued.

July 19, 2012

Nowotny: „Germany Has Key Function“

The governor of OeNB (Austrian Central Bank) is against forced loans in Austria. Regarding Eurobonds, Germany as Europe´s biggest economy would have the key function.

July 18, 2012

Schlecker Austria: Time Pressure Grows

The potential buyers of Schlecker Austria are still highly skeptical. Until August, a decision must be taken.

July 18, 2012

CA Immo: Success in Berlin and Munich

The Austrian real estate company has sold extensive land reserves in Berlin and has concluded further rental contracts in Munich for the Skygarden office building.

July 16, 2012

SPÖ Supports Idea of Forced Loans

Like their German counterparts, the Austrian Social Democrats want to introduce forced loans for rich persons.

July 14, 2012

Austrian Foreign Trade Figures Flattening

After record results in 2011, the growth in Austrian foreign trade was substantially down in the first months of 2012. Austrian politics promotes exports to non-European markets like China, Brazil and the U.S.

July 12, 2012