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Read more headlines about Austria's international business environment (which are not covered in the other topics, including commodity and currency markets)
City Trialogue in Vienna: Working Together for a Sustainable and Livable Future
The mayors of Zurich, Hamburg, and Vienna met in the Austrian capital for the fifth “City Trialogue.” This year's exchange focused on pressing issues such as climate protection, renewable energies, circular economy, technology development, health infrastructure, care, and culture.
Yesterday
Monaco’s Club Allemand International Uncovers Treasure in Vienna's Imperial Archives
What began as the annual cultural excursion for Monaco's Club Allemand International (International German Club) transformed into a historical discovery of significant proportions. During their recent trip to Vienna, members of the club unearthed a remarkable historical document about the Principality of Monaco, hidden for centuries within the imperial archives of the Hofburg Palace.
June 12, 2025
Export Day 2025: Austria's Export Economy with its Opportunities and Challenges
The Austrian Federal Economic Chamber's (WKÖ) Export Day 2025 was once again the largest internationalization event in Central Europe. Under the motto “Seizing Business Opportunities. NOW!”, the event brought together around 3,000 participants, including over 2,500 decision-makers, more than 60 WKÖ economic delegates, top international speakers, and leading export service providers. The aim was to encourage companies to actively seize international business opportunities and put the Austrian export industry in the spotlight.
June 11, 2025
French Art History Festival: Austrian Cultural Diplomacy on Display
Austria was the guest country at this year's renowned “Festival of Art History,” which attracted up to 10,000 visitors and took place at the Palace of Fontainebleau, around 70 km south of Paris. The importance of cultural diplomacy for Austria was once again emphasized.
June 10, 2025
Austria Designates Special Envoys for Austrian Candidacy for the United Nations Security Council
For quite some time now, the new federal government has pursued a more active role in international diplomacy, and a defined goal is a non-permanent seat on the UN Security Council for 2027/28. Being elected requires a two-thirds majority vote from the United Nations General Assembly, and therefore, the federal government designated special envoys to advocate for Austria.
June 8, 2025
Susanne Raab Elected as New Director General of ICMPD
Representatives of the 21 ICMPD member states have elected Susanne Raab, a former ÖVP Integration Minister, in Stockholm to succeed Director General Michael Spindelegger, who is stepping down at the end of the year. This means that after nearly 10 years, the organization in Vienna will have new leadership, albeit Austrian once again.
June 7, 2025
International Climate Conference in Vienna, Austrian World Summit 2025: Schwarzenegger Calls for Action
The ninth Austrian World Summit took place at the Hofburg Palace in Vienna under the motto “Unite in Action – Terminate Pollution.” Organized by former California Governor Arnold Schwarzenegger and the Schwarzenegger Climate Initiative, the event aimed to present concrete measures to combat the climate crisis, strengthen cooperation, and generate political and social momentum for ambitious climate protection policies.
June 4, 2025
Austria Recruiting U.S. Researchers: Science Committee Discusses Simplified Appointment Procedures
The Austrian Parliament's Science Committee is considering a draft law that would facilitate the appointment of professors without a competitive application process. The aim is to attract researchers from the U.S. who want to leave their home country due to political developments under President Donald Trump.
June 4, 2025
ICMPD and Ireland Intensify Cooperation on Migration Policy
The International Centre for Migration Policy Development (ICMPD) and Ireland have further deepened their cooperation in the field of migration policy. During an official visit, ICMPD Director General Michael Spindelegger met with Irish Minister for Justice Jim O'Callaghan and Minister of State for Migration Colm Brophy to discuss common priorities.
June 3, 2025
Planned Messenger Surveillance in Austria: Between Security Needs and Fundamental Rights Protection
The debate surrounding state surveillance of encrypted digital communications in Austria is heating up once again. The latest draft bill from the Ministry of the Interior on so-called “messenger surveillance” has been met with widespread criticism from opposition parties, civil society organizations, and parts of the governing coalition under the NEOS. After several previous attempts failed in recent years, the current attempt also appears to be in jeopardy.
June 3, 2025
New Leadership Team Elected at the International Narcotics Control Board (INCB)
The International Narcotics Control Board (INCB) elected a new Bureau for the coming term at its 143rd session. Turkish forensic scientist and professor H. H. Sevil Atasoy was appointed as the new president of the board. She succeeded the previous incumbent, Prof. Jallal Toufiq, who thanked the meeting for the trust and support he had received during his term of office.
June 2, 2025
Signa Insolvency: Creditors Demand €11.7 Billion, Sale of Luxury Real Estate Underway
Following the collapse of the real estate group Signa, founded by René Benko, creditors have filed claims totaling €11.7 billion. The insolvency administrator of Signa Prime Selection AG (SPS), Norbert Abel, is working to sell the remaining assets to satisfy creditors.
June 2, 2025
EU and UK Ambassadors to Austria Reaffirm Support for Ukraine
At the first EU-UK summit since Brexit in London, the European Union and the United Kingdom agreed on a comprehensive security and defense partnership. The meeting focused on joint support for Ukraine, and the respective ambassadors in Vienna proudly announced this partnership in Austria as well.
May 29, 2025
“Tea for Harmony” in Vienna: Chinese Embassy Invites Guests to Intercultural Tea Salon
The elegant premises of the Chinese Embassy hosted the “Tea for Harmony" Yaji Cultural Salon on International Tea Day. Around 50 guests from the worlds of politics, business, science, and culture enjoyed an evening dedicated to the millennia-old Chinese tea culture—a symbol of harmony, modesty, and exchange between civilizations.
May 29, 2025
After 17 Years, ams-Osram Wins Multi-Million Dollar Legal Dispute in the USA
The Styrian-Bavarian semiconductor manufacturer ams-Osram has achieved a historic legal success: After almost two decades of litigation in the United States, the company has finally prevailed in a case concerning stolen trade secrets. With a legally binding judgment and a subsequent settlement of around 52 million US dollars, one of the longest and most significant commercial disputes in the industry has come to an end, with a significant signal on the protection of intellectual property.
May 27, 2025
Austria Wants to Position Itself as a Safe Haven for International Science
Given the increasing restrictions on academic freedom in the U.S.A., the Austrian federal government has adopted a comprehensive package of measures to support international researchers and students. The Council approved the Minister's package and aims to strengthen Austria as an attractive and secure location for science.
May 27, 2025
Acquittal for Former Chancellor Sebastian Kurz in False Statement Trial
The Vienna Higher Regional Court (OLG) acquitted former Austrian Federal Chancellor Sebastian Kurz of the charge of making false statements in connection with the Ibiza Investigation Committee. The judgment of the Vienna Regional Court from February 2024, which provided for an eight-month conditional prison sentence, was thus overturned.
May 26, 2025
OPEC Secretary General Warns Against a Hasty Farewell to Oil
OPEC Secretary General Haitham Al Ghais repeatedly comments on the role of the oil industry in the context of global climate targets and the energy transition. In a recent interview, he emphasized that despite the expansion of renewable energies, global demand for oil will not fall in the coming decades. “It is a myth that new energy sources will automatically replace older ones,” says Al Ghais.
May 23, 2025
New Natural Gas Well in Upper Austria: ADX Expands Exploration Area in Molln
The Australian-Austrian energy company ADX Energy has received approval from the Austrian authorities to significantly expand its exploration area in the Upper Austrian district of Kirchdorf an der Krems. The measure relates in particular to the so-called Welchau area in the municipality of Molln, which had already come into focus last year with an initial well.
May 23, 2025
Vienna Signals Support for Serbia's Accession to the Schengen Area
Serbia is currently stepping up its diplomatic efforts to join the Schengen area. During an official visit to Vienna, Serbia's Minister for European Affairs, Nemanja Starović, emphasized that his country's accession to Schengen is not only a strategic goal, but is also in Europe's security policy interests. Austria once again signaled its support for Serbia's European integration ambitions - both concerning the EU and the Schengen area.
May 22, 2025
Van der Bellen Visits Japan: Focus on Business Delegation and EXPO 2025
Austria's President Alexander Van der Bellen is currently on a state visit to Japan, accompanied by a high-ranking business delegation of around 150 people. The four-day trip - organized in close cooperation with the Federal Ministry of Labour and Economy and the Austrian Federal Economic Chamber - is all about deepening bilateral economic and diplomatic relations.
May 22, 2025
China's Ambassador Qi Mei Deepens Bilateral Relations with Austria
Ambassador Qi Mei used May 2025 to intensify diplomatic and cultural rapprochement between the People's Republic of China and the Republic of Austria. In addition to political meetings at the highest level, important educational and cultural events also took place, underlining the efforts of both countries to strengthen their cooperation in the long term.
May 21, 2025
Thai Anantara Celebrates Debut in Austria with New Luxury Resort in Vienna
With the reopening of the Anantara Palais Hansen Vienna, the Thai hotel group Anantara Hotels & Resorts opened its first hotel in Austria in May 2025. The historic building on Schottenring, originally designed by architect Theophil Edvard von Hansen for the 1873 World Exhibition, has been extensively renovated over the past 18 months and repositioned as an urban luxury resort.
May 20, 2025
Alfred Stern Leaves OMV in Summer 2026: End of an Era of Change
Alfred Stern, CEO and Chairman of the Executive Board of OMV, will not extend his contract beyond August 31, 2026. The 60-year-old top manager announced this decision to the Chairman of the Supervisory Board, Lutz Feldmann. This marks the end of a term of office characterized by far-reaching strategic upheavals, geopolitical challenges, and ambitious sustainability goals.
May 20, 2025
New Panda Ambassadors in Vienna: Chinas “Fluffy Diplomats” Renew Friendship with Austria
The two giant pandas “Lan Yun” and “He Feng” were officially welcomed to Schönbrunn Zoo with much media attention and political prominence. Federal President Alexander Van der Bellen, Federal Chancellor Christian Stocker, and Li Hongzhong, Vice President of the National People's Congress of the People's Republic of China, participated in the ceremony - a strong diplomatic signal in a globally complex time.
May 18, 2025
UNOOSA and Singapore Agree on Cooperation in the Field of Space Law
The United Nations and Singapore have announced a new partnership under the “Space Law for New Space Actors” project. The United Nations Office for Outer Space Affairs (UNOOSA) and Singapore's Office for Space Technology & Industry (OSTIn) are working together to support the development of a national legal framework for space activities. This initiative aims to align Singapore's emerging space sector with international standards.
May 14, 2025
Between Return Policy and Skills Shortages: How ICMPD is Redefining Europe's Migration Agenda
The war in Ukraine has been going on for over three years, geopolitical tensions are on the rise, and migration debates in Europe are more polarizing than ever—and right in the middle of it all: the International Centre for Migration Policy Development (ICMPD). In its new annual report for 2024, the Vienna-based center takes stock of a year of intense challenges and far-reaching innovations.
May 13, 2025
EU Ambassadors Meet Foreign Minister Meinl-Reisinger at the Polish Embassy in Vienna
The ambassadors of the EU member states gathered at the Embassy of the Republic of Poland in Vienna for a meeting in the HoMs format with Austrian Foreign Minister Beate Meinl-Reisinger. The meeting focused on the foreign policy priorities of Austria's new tripartite government and current security policy challenges in Europe.
May 11, 2025
Ex-Meinl Austrian Banker Peter Weinzierl in U.S. Pretrial Detention
The former CEO of the now-defunct Meinl Bank, Peter Weinzierl, is in custody in the United States. After years of investigations and complex extradition proceedings, the 59-year-old Austrian was transferred to a federal prison in Brooklyn, New York.
May 11, 2025
Austria Strengthens its Commitment to the Reconstruction of Ukraine at the Gymnich Meeting
While the EU foreign ministers reaffirmed their solidarity with Ukraine at the Gymnich meeting in Warsaw and discussed security policy decisions for Europe, the Austrian federal government also sent a clear signal: Wolfgang Anzengruber, an experienced economic and energy expert, was appointed national coordinator for the reconstruction of Ukraine.
May 8, 2025
Joint European Police Raids on Benko in Austria, Italy, and Germany
In one of the largest cross-border raids in recent years, an international team of investigators has taken action against the imprisoned former real estate mogul René Benko and his Signa empire. Officials from Austria, Germany, and Italy simultaneously searched dozens of properties - including the Tyrol department store in Innsbruck, the Signa headquarters in Vienna's Palais Ferstel, and several warehouses and foundation offices.
May 7, 2025
EU Commission Initiates Several Infringement Proceedings Against Austria
The European Commission has initiated a series of infringement proceedings against Austria. Brussels sees considerable omissions in several areas - from customs and labor law to environmental law. Particularly explosive is a complaint before the European Court of Justice (ECJ) due to a far-reaching dispute of competence in the Danube Commission, which is steeped in tradition. Austria is therefore facing a wide range of accusations under European law.
May 7, 2025
Austria Raises a Further 1.5 Billion Euros via Federal Bonds
The Republic of Austria has successfully placed federal bonds with a total value of 1.5 billion euros on the capital market. According to the Federal Financing Agency (OeBFA), demand for the securities was once again high - a sign of continued confidence in the Republic's creditworthiness.
May 6, 2025
Reza Najafi Returned to Vienna as Iran's Permanent Representative
The Islamic Republic of Iran has sent a clear signal of continuity and diplomatic professionalism with Reza Najafi's return as its new Permanent Representative to the United Nations in Vienna. Not so long ago, His Excellency presented his credentials to Ghada Waly, Director-General of the United Nations Office at Vienna (UNOV), marking the second time he has assumed this key diplomatic post at a time when the future of the international nuclear agreement (JCPOA) is once again at a diplomatic crossroads.
May 6, 2025
OSCE Conference in Vienna: Joint Strategies for Climate Security and Resilience
Under the motto “Resilient Together in a Changing Climate”, over 140 representatives from the 57 OSCE participating States, partner countries, international organizations, and civil society gathered in Vienna. The event was organized as part of Finland's OSCE Chairmanship 2025 and was dedicated to strengthening resilience to the security challenges posed by climate change.
May 5, 2025
Erste Group Expands into Poland: Takeover of Santander Bank Polska worth Billions
The Austrian Erste Group Bank AG has announced a step towards expansion in Central and Eastern Europe. The bank is acquiring a 49 percent stake in Santander Bank Polska for around EUR 6.8 billion and a 50 percent stake in asset manager Santander TFI for a further EUR 200 million. This transaction made Erste Group the third-largest bank in Poland and expanded its customer base in the region to around 23 million people.
May 5, 2025
Wiiw Forecast: Central and Eastern Europe Remain on Solid Growth Path Despite Trump’s Tariffs
Despite mounting global trade tensions, Central, Eastern, and Southeastern Europe (CESEE) economies are set to maintain strong growth in 2025, according to the latest Spring Forecast published by the Vienna Institute for International Economic Studies (wiiw). The report highlights the region’s resilience in the face of U.S. President Donald Trump’s protectionist policies and broader global uncertainties.
April 29, 2025
The Western Balkan Mafia and its Operations: Vienna's Most Dangerous Shadow War
It is a hidden war that has long since left its mark in the heart of Vienna: The merciless power struggle between the Kavač and Škaljari clans, two of the most powerful drug cartels in Europe, is shaking not only their home country of Montenegro but also Austria and the rest of the world. One of Europe's most wanted criminals from these cartels has vanished into thin air. Austria is determined to track him down.
April 28, 2025
Russian Court of Appeal Confirms Billion-Dollar Fine Against Raiffeisen Subsidiary
A Russian appeals court in St. Petersburg has confirmed the decision of a court of first instance, according to which the Russian subsidiary of Raiffeisen Bank International (RBI), AO Raiffeisenbank, must pay over two billion euros to the Cypriot company Rasperia Trading Limited. However, this could also mean two exemptions at the same time - and one of them in Austria.
April 24, 2025
Austrian Company Palmers: Hope for Rescue by International Investor
The traditional Austrian underwear manufacturer Palmers, which had to file for insolvency in February 2025, may be about to be rescued by a foreign investor. The regional court in Wiener Neustadt has decided that the company can continue to operate for now, but financial support is urgently needed.
April 24, 2025
Strengthening the Economic Bridge Between China and Austria at the 15th Investment Seminar in Vienna
The 15th seminar on “Austria as an investment location” took place in the Austrian capital in the context of growing economic ties between China and Europe. The event was organized by the Embassy of the People's Republic of China in Vienna, under the direction of Ambassador Qi Mei. The high-caliber event brought together representatives from Austrian federal authorities, economic institutions, and federal states as well as numerous executives from Chinese companies operating in Austria.
April 21, 2025
ECB Cuts Key Interest Rate Again: Vienna Stock Exchange Reacts Cautiously
The European Central Bank (ECB) cut its key interest rate again, for the seventh time since June 2024. The deposit rate, a key reference value for banks and savers, was lowered by 0.25 percentage points to 2.25 percent. The measure had been expected, but its frequency and the tone of the ECB's communication make it clear that the situation is serious.
April 17, 2025
Austria Wants to Attract U.S. Researchers to Europe as a Science Location
In view of drastic cuts in research funding by the US government under President Donald Trump, the American scientific landscape is currently experiencing considerable turbulence. This development offers European countries, especially Austria, the opportunity to attract highly qualified researchers and strengthen their own research location.
April 17, 2025
IAEA Director General Rafael Grossi Visits China
During a week-long visit to China, Rafael Mariano Grossi, Director General of the International Atomic Energy Agency (IAEA), achieved significant progress in enhancing cooperation between the IAEA and China. The discussions focused on promoting the peaceful use of nuclear energy, supporting sustainable development in the Global South, and advancing innovative nuclear technologies.
April 15, 2025
India's Finance Minister Visits Vienna to Intensify Trade and Economic Partnership
The visit of Indian Finance Minister Nirmala Sitharaman to Vienna marks a significant step towards deepening bilateral relations between Austria and India. The talks with Foreign Minister Beate Meinl-Reisinger and Finance Minister Markus Marterbauer focused on strengthening economic cooperation, particularly in the areas of digitalization, green technologies, and the exchange of skilled workers.
April 15, 2025
Tyrolean Biotech Company Cyprumed Closes 493 Million Dollar Deal with American MSD
The Innsbruck-based biotechnology company Cyprumed GmbH is making international headlines with a multi-million dollar license deal: Together with the U.S. pharmaceutical group MSD (Merck & Co., Inc.), the company has signed an agreement worth up to 493 million US dollars. The aim is to develop innovative tablet formulations for peptide drugs - a potential game changer in modern drug therapies.
April 15, 2025
OMV Stops Fuel Procurement from Serbian NIS due to U.S. Sanctions
The Austrian oil, gas, and chemicals group OMV has stopped purchasing fuel from the Serbian energy company Naftna Industrija Srbije (NIS) due to the threat of U.S. sanctions. NIS is majority-owned by the Russian companies Gazprom Neft and Gazprom.
April 10, 2025
Austria's Verbund Takes Over 272 MW Wind Project in Romania
The partly state-owned Austrian energy group Verbund has acquired a fully developed wind power project with a capacity of 272 megawatts (MW) from the Monsson Group via its Romanian subsidiary Verbund Wind Power Romania. The project is located in Caraș-Severin County in southwestern Romania and is expected to drive forward the energy transition in Europe.
April 10, 2025
FACC Recovers Millions Lost in Sophisticated Fraud Scheme: Spotlight on China’s Role in International Asset Recovery
Austrian aerospace manufacturer FACC, based in Ried im Innkreis, has finally recovered €10.8 million, nearly a decade after falling victim to one of the largest corporate fraud cases in the country's history. The case, which involved deceptive emails, impersonation of top executives, and complex international money transfers, not only reshaped the company’s internal controls but also tested the limits of global legal cooperation—especially between Austria and China, where a portion of the stolen money had been frozen for years.
April 10, 2025
Austrian Securities Ownership Reaches New Heights
A recent survey reveals a significant increase in the number of Austrians investing in securities, highlighting a shift towards private pension planning amid economic challenges.
April 9, 2025
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