Austria and Italy - Read the latest headlines about bilateral relations in the areas of economy, business, investment, diplomacy, culture and tourism
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Italy in Austria | Italians in Vienna | Bilateral Relations

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

Aiginger: „Feeding Banks Makes No Sense“

The director of WIFO (Austrian Institute of Economic Research) thinks that Spanish banks must be able to become insolvent.

July 24, 2012

Fekter: Greek Exit is „No Issue“

Austria´s Finance Minister Maria Fekter thinks that a Greek exit is no option for the time being. „We wait for the report of the Troika.“

July 24, 2012

Bawag and Generali Extend Cooperation

The Austrian bank, which is owned by the U.S. investment funds Cerberus and Generali agreed on extending the cooperation until 2023.

July 23, 2012

Bank Austria: Major Investment at Russian Subsidiary

UniCredit Group increases the equity base of the Russian subsidiary.

July 14, 2012

Reorganization at UniCredit

The Italian banking group plans to dezentralize its structure. Bank Austria as CESEE hub is affected.

July 5, 2012

Iveco Shuts Down Austrian Factory

Fiat´s Subsidiary Iveco plans to close five factories in Europe. In total, 1,075 workers will be laid off. In Austria, 110 workers are affected.

July 2, 2012

Strong Increase in Unit Labor Costs

Since 2008, the Austrain economy records a disproportionately high increase in unit labor costs. The average of the eurozone amounts to 6.4%. In Austria, the unit labor costs were up by 11.1%.

June 29, 2012

Euro-Crisis Continues

According to RCB, the factional dispute between Germany and France decisive for the eurozone. An easing of the situation is not expected.

June 29, 2012

WIFO Wants Unlimited Firewall

According to the Austrian Institute of Economic Research, the firewall must be big enough in order to make speculation against the euro unattractive.

June 28, 2012

Fiscal Pact More Expansive for Austria than for Germany

According to the latest calculations, small Eurozone member states would have to pay higher transfers than Germany.

June 26, 2012

Austrian Banks Affected by European Crisis

Bank Austria´s CEO Willibald Cernko still believes in the common currency. Last year, earnings went down by 14.6%.

June 26, 2012

Survival of the Euro Questionable

Regarding the future of the common currency, the Austrian economist Fritz Breuss is highly skeptical.

June 26, 2012

New IV´s President Dissatisfied with Political System

The corruption scandals oft he past would damage Austria´s reputation as business location, Georg Kapsch thinks.

June 23, 2012

Fekter Declines Mercy for Greece

Austria´s Finance Minister Maria Fekter is poised for amending several points oft he Greek austerity program. This is no accomodation, Fekter emphasizes. In the future, the EU should be completely centralized, Fekter says.

June 21, 2012

Austria Emphasizes South Tyrol´s Importance

Austria´s Foreign Minister Spindelegger: “South Tyrol is and will stay a constant factor in Austrian foreign policy”.

June 20, 2012

Fekter Defends Euro Aids

Austria´s Finance Minister Maria Fekter underlines the „necessity of solidarity“ and stressed ist commitment to the common currency. The Austria opposition party FPÖ made a serious protest.

June 16, 2012

RZB Wants to Keep Austrian Deposit Protection

Raiffeisen Zentralbank´s CEO Walter Rothensteiner is skeptical of the European deposit protection proposal.

June 15, 2012

FPÖ: „Europe Has a Banking Problem“

The Austrian opposition leader Heinz-Christian Strache criticizes that European countries are downgraded due to their banks. Further bank aids would be likely.

June 13, 2012

Austerity: „There is No Alternative“

The former director of the Austrian Institute of Advanced Studies appreciates the help for Spanish banks and thinks that a Greek exit is rather unlikely.

June 12, 2012

Monti Angry at Fekter

Italy´s Prime Minister Mario Monti is unhappy with the statement of Austria´s Finance Minister Maria Fekter on Italy. Fekter considered that Italy may need help by the EU.

June 12, 2012

Austrian Furniture Industry Increases its Exports

In 2011, the total production of the Austrian furniture industry decreased by 3.3 percent to close to € 2.3bn according to the latest figures.

June 6, 2012

Downgrade for Austrian Banks

The U.S. rating agency Moody´s downgrades Erste Group, Raiffeisen Bank International and Bank Austria.

June 6, 2012

Insolvencies: Stable Development Expected

In 2012, the number of Austrian business insolvencies is expected to remain stable. Whereas in Germany and the U.S. insolvencies are decreasing, Southern Europe faces a vast increase.

June 5, 2012

Keuschnigg: „Raising ESM for Italy and Spain“

Christian Keuschnigg, director of the Austrian Institute of Advanced Studies (IHS) argues for raising ESM funds to € 1,000bn.

June 4, 2012

The Euro - A Big Error (Part 4)

The common currency did not create convergence, but widened the gap between Northern and Southern Eurozone member states.

May 31, 2012

The Euro - A Big Error (Part 3)

The common currency did not create convergence, but widened the gap between Northern and Southern Eurozone member states.

May 29, 2012

The Euro – A Big Error (Part 2)

The system of the common currency has failed to work, but is still kept alive artificially. The euro brings enormous difficulties to stronger as well as weaker European economies.

May 23, 2012

Rising Revenues at Novomatic

The Austrian vending machine producer recorded a 17.2% in revenues. The gambling segment was Novomatic´s growth driver.

May 22, 2012

Rothensteiner: Return to Drachma would be „Utter Chaos“

The CEO of the Austrian RZB (Raiffeisen Zentralbank) warns of a Greek exit. At the moment, there would be not contagiousness for Spain or Italy.

May 21, 2012

The Euro – A Big Error (Part 1)

The system of the common currency has failed to work, but is still kept alive artificially. The euro brings enormous difficulties to stronger as well as weaker European economies.

May 20, 2012

Downsizing Program at Hypo Tirol

After the major losses in 2011, the Austrian regional bank is obliged to withdraw from Germany, Switzerland and Italy.

May 19, 2012

Sorgenia Develops New Business Model

The Milan-based Sorgenia, in which Austrian Verbund has an interest, has developed a balanced portfolio of activities in Europe and South America with a substantial growth potential.

May 18, 2012

Austrian Economy Grows Slowly

After a period of stagnation, the Austrian economy showed a small growth rate of 0.2% in the first quarter of 2012.

May 15, 2012

Strong Increase in Austrian FDI

Only in 2007, Austrian investors made more investments abroad. Last year, FDI totaled € 22bn.

May 14, 2012

ESM: The Final Ruin of Europe

Solidarity with financially stricken EU countries cannot justify the irrevocable loss of national sovereignty. The transfer union will only work until the financial collapse of Germany and Austria.

May 2, 2012

High Losses at Hypo Tirol

The Austrian regional bank suffered high write-offs due to Italian non-performing loans. Pre-tax losses totaled € 107m.

May 1, 2012

Sorgenia Will not be Sold

The Italian energy group will not be sold. The major owner CIR declines market rumors.

April 26, 2012

Sorgenia Records Losses

The Italian subsidiary of the Austrian energy company Verbund registered net losses of € 14.7. Revenues were up by 9.5%.

April 21, 2012

Felderer: „Women Must Have More Children”

The director of the Austrian Institute of Advanced Studies (IHS) sees a demographic problem in Austria as well as in Europe. Migration cannot solve the problem, Felderer says.

April 19, 2012

Mixed Results at Generali Austria

The Austrian subsidiary of the Italian insurance group recorded a decent rise in premium income. Earnings were down by 24%.

April 19, 2012

Hypo Tirol: NPL Quota at 37%

The Tyrolean regional bank recorded losses of € 125m last year. The owner, the province of Tyrol has to inject further capital.

April 16, 2012

Verbund Focuses Investments on Austria

The Austrian energy company plans investments of € 2.4bn in the next five years. About 66% of these investments will be made in Austria.

April 12, 2012

Strong Rise in Foreign Direct Investment

According to Austrian Business Agency (ABA), total investment increased by 34%. 1,822 new jobs were created.

March 30, 2012

Rewe Austria Shows Solid Growth

The German retail chain achieved sales of € 7.47bn in Austria last year, which is a rise of 6.26%.

March 30, 2012

Bank Austria Considers Leaving East European Markets

UniCredit´s subsidiary may leave Baltic countries as well as Kazakhstan. CEO Cernko is optimistic to achieve more than € 1.0bn in profits this year.

March 30, 2012

Bank Austria: Higher Profits than Expected

Bank Austria posts net profit of € 209m despite burdens of € 1.2bn resulting from Greece, goodwill impairment and bank levies.

March 28, 2012

BNP: Austrian Economy Recovers

GDP in Austria contracted slightly in Q4 2011 as exports fell, but weak growth is likely to have resumed at the beginning of 2012, says BNP Paribas.

March 26, 2012

Austrian Chamber of Commerce Underlines Importance of South Tyrol

The President of Austria´s Chamber of Commerce (WKO), Christoph Leitl, met South Tyrols governor Luis Durnwalder and stresses the good political and economic relationship between South Tyrol and Austria.

March 24, 2012

Moderate Rise in Austrian Bilateral Trade with Italy

In 2011, Austrian exports to Italy went up by 8.6% to € 9.3bn. After Germany, Italy is Austria´s second largest trade partner.

March 21, 2012