Austria and Middle Eastern countries - Read the latest headlines about bilateral relations in the areas of economy, diplomacy, culture and tourism
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Bilateral Relations between Middle Eastern Countries and Austria

Agrana to Expand into South Africa

The Austrian fruit and starch company consolidates its presence in South Africa and starts production of fruit preparations in Johannesburg.

November 7, 2011

OeNB Dismisses Management of Money Printing Subsidiary

Three persons were fired for suspicion of unlawful actions. € 14m have allegedly been paid as bribe to secure a deal with Syria.

October 28, 2011

AUA Remains in the Red in 2011

The Austrian carrier improved its operating profit by 30% in the third quarter 2011. A positive result, however, will not be achieved in the full year.

October 27, 2011

New Co-Investor for Pecik

Ronny Pecik, who is said to have acquired a substantial stake in Telekom Austria, now has a new partner. The Egyptian Sawiris faces liquidity problems.

October 24, 2011

Pecik Acquires Minor Stake in Telekom Austria

The Austrian investor now enters the Vienna-listed Telekom Austria Group. For the time being, Pecik holds a 5.4% stake.

October 17, 2011

OMV to Resume Oil Production in Libya

The Austrian oil corporation had to abandon oil production in Libya at the beginning of the year. Now, OMV wants to continue its operations.

October 10, 2011

Spindelegger Wants New Impetus for Nabucco

The Austrian Vice-Chancellor calls for a quick realization of the pipeline project which is stalling at the moment.

September 28, 2011

World Tourism Day 2011: Guests from 50 Countries Visit Austria

According to statistics Austria, the diversification of the guest´s nationalities further increased. Culture-oriented travels become increasingly important.

September 26, 2011

OMV Buys 500,000 Barrels of Condensate in Libya

It is the first supply from the war-torn country for the Austrian oil and gas group since March.

September 22, 2011

Austrian Telekom: Social Democrats Warn of „Unfriendly Takeover“

For the executive director of the SPÖ, Günther Kräuter, “a new major shareholder from Egypt or Russia would be problematic.”

September 12, 2011

ADX: Sidi Dhaher Well Spudded

The Austro-Australian oil and gas exploration and appraisal company started drilling operations for the Tunisian exploration well.

August 29, 2011

OMV Affected by Sanctions against Syria

The Austrian oil and gas company does not have a local production but buys 7% of its oil supplies from the Arabic country.

August 29, 2011

Austrian Companies Hope for Quick Return to Libya

In view of the approaching end of the Gaddafi regime Austrian companies start preparations for an early return to the North African country.

August 22, 2011

Efkon Receives Further Major Order in South Africa

The subsidiary of Austrian construction group Strabag has been awarded an € 11m contract for supply and maintenance of toll plazas.

August 18, 2011

OMV’s Results Impacted by Political Turmoil

The events in North Africa and the Middle East adversely impacted results of the Austrian oil and gas group: clean CCS EBIT and net income were both down 25%.

August 10, 2011

RBI Hit by Bankruptcy of Saudi Arabian Company

The Austrian bank has problems with its credit business in Saudi Arabia. “An amount in the low hundreds of millions” is at risk.

July 4, 2011

ADX Energy to Start Oil Drilling in Tunisia

The Tunisian army will guard the drilling project of the Austro-Australian oil and gas exploration and appraisal company at the Sidi Dhaher well.

June 10, 2011

Strabag: No Early Comeback in Libya

The Austrian construction company had to stop projects worth € 350m, which resulted in a decrease in business backlog by 3% to € 15.2bn.

June 10, 2011

Agrana Opens Production Site in Egypt

The Austrian fruit, starch and sugar company has started production in its new plant which is seen as a basis for further expansion in the Middle East and North Africa.

June 7, 2011

OMV with Oil Discovery in Iraq

The Austrian oil and gas company reported promising first results from one of its test drills. Further investigations of the well are planned.

June 3, 2011

Austria's Solar Industry Strives For Technological Leadership

The domestic solar energy industry calls for more research funding to ensure the continuation of success achieved also into the future.

May 4, 2011

Al Jaber Intends to make further Investments in Austria

Despite massive criticism of business partners and rumoured illiquidity, the Saudi investor Mohammed Al Jaber wants to realize further investment projects.

April 26, 2011

Al Jaber in Distress

Saudi investor Mohamed Al Jaber has to fight on several fronts in Austria. Kneissl awaits restructuring, loans are due.

April 23, 2011

Every second Company Concerned by Crisis in Libya and Japan

According to a survey in Upper Austria, 46% of the companies are concerned by the rise in commodity and energy prices or by supply bottlenecks in the electronic industry.

April 23, 2011

OMV: German Refinery to be Converted

Because of the failures of Libyan oil imports, the OMV refinery at Burghausen is converted to alternative crudes.

April 19, 2011

OMV: No Sale of Stake in Borealis

The Austrian energy group OMV holds 36% of Borealis. IPIC, itself involved in OMV appears to be interested in the OMV share.

April 15, 2011

OMV: Low Production in Libya

Production of the Austrian energy group is likely to amount to only a quarter of the normal level.

March 23, 2011

OMV Fears Destruction of the Libyan Infrastructure

With the military attack on Libya, the fear that Gaddafi could damage oil production facilities of Western corporations in retaliation increases.

March 22, 2011

Verbund Plans an Investment for €600m in the U.S.

A new financial and strategic direction seems to be set by the Austrian Verbund group. Electric mobility is to be promoted.

March 16, 2011

Österreichische Kontrollbank: "There are no Failures to be Feared"

Despite the unpredictable political and economic consequences of the turmoil in the Arab, OeKB Member of the Board Rudolf Scholten consideres that there will be no failures.

March 12, 2011

Ruttenstorfer: "OMV Stays in Libya '

Despite unpredictable developments, Austrian OMV stays in Libya. Neither are there any changes planned in other Arab countries.

March 10, 2011

Lack of Venture Capital for Austrian Companies

The Ministry of Economy considers providing funds for start-ups. The Israeli concept serves as a model.

March 10, 2011

Austria's Construction Industry Expects Stagnation

In an interview with the newspaper "WirtschaftsBlatt", the CEO of the Porr construction company, Karl-Heinz Strauss, describes his prospects for the local construction industry.

March 8, 2011

OMV Continues Receiving Oil Deliveries from Libya

The Austrian oil and gas company is able to obtain deliveries from Libya in spite of the serious political crisis. Production is however limited.

March 8, 2011

Leitl and Juncker Support a "Marshall Plan for Africa"

Austria and Luxembourg drive for support. Special attention is paid to education and know-how.

March 3, 2011

Kapsch Expects New Orders from the Arab Region

Kapsch emerges as the new GSM-R market leader in the international trade fair Middle East Rail 2011 in Abu Dhabi.

March 2, 2011

Gaddafi Family Assets in Austria are Frozen

More than € 1.2bn of funds invested in Austria are to be blocked after international sanctions.

March 2, 2011

WKÖ: Development Plan for North Africa

Given the dramatic situation in North Africa, Christoph Leitl, President of the Economic Chamber (WKÖ) pleads for a ‘European Marshall Plan'.

March 1, 2011

Significant Growth for Borealis

The Austrian chemical company records substantial growth in sales. Profits grew from € 38m to € 333m.

February 26, 2011

Libya: OMV Foresees no Shortages

The CEO of the Austrian OMV considers not to have underestimated the risks in Libya.

February 24, 2011

Libya Crisis: No Shortage of Supplies

The North African country ruled by massive unrest is Austria's second-largest oil supplier.

February 23, 2011

OMV Expects Reduction in Oil Production in Libya

The Austrian energy company, which also operates in Libya, cannot eliminate any possibility of a decline in the oil production anymore.

February 23, 2011

Libya: Withdrawal of Austrian Companies

Most Austrian companies are getting their employees out as the result of violent riots in Libya.

February 22, 2011

OMV Observes Riots in Libya and Yemen „thoroughly“

The Austrian oil company OMV is not concerned by the current turmoils in Libya and Yemen. However, OMV watches the incidents permanently.

February 21, 2011

Bizarre Allegations of Meinl against Atrium

The ongoing conflict between the Austrian bank and the US-Israeli real estate fund shows new and unusual facets.

February 16, 2011

Oettinger Increases Pressure on OMV

In an interview with the daily newspaper "Presse", the European Commissioner for Energy considers that OMV must move now regarding Nabucco.

February 4, 2011

Consumption Expenditure of Foreign Tourists Grows

Russian and Chinese tourists are proving to be particularly generous consumers in Austria. Overall sales rose by 23% in 2010.

February 3, 2011

Kapsch Gains Contract in South Africa

The Austrian Kapsch TrafficCom AG listed on the Vienna Stock Exchange, has been awarded contracts with a volume of € 17m in South Africa.

February 3, 2011

Atrium Terminates Trust Agreements with Meinl

The US-American/Israeli fund Atrium terminates trust agreements with the Austrian Meinl Bank AG under the 2003 and 2005 bonds due to “important reasons”.

February 3, 2011

EFKON Group Wins Major Contract in South Africa

The Austrian EFKON Group has been awarded a contract to install an Intelligent Transportation System on freeways in South Africa.

February 2, 2011