Latest Headlines about other Business & Economic Developments

Read more headlines about Austria's international business environment (which are not covered in the other topics, including commodity and currency markets)

Vienna Conference against Human Trafficking in October

The Vienna Conference against Human Trafficking will be held on October 13, 2022. The event will be held under the title „No Future for Trafficking“, in cooperation between the Vienna Institute for International Dialogue and Cooperation (VIDC), the International Organization for Migration (IOM), the OSCE, and again with the Principality of Liechtenstein at the Diplomatic Academy of Vienna and online.

Yesterday

Born Global Academy: Initiative of the Austrian Federal Chamber of Commerce

Internationalization is high on the agenda of many Austrian startups. According to Start-up-Monitor, 80 percent planned to export their business model this year. The Born Global Academy was launched last year by Aussenwirtschaft Austria and weGrow International offers an internationalization program for startups.

October 3, 2022

Natural History Museum Vienna Returns Bones of Members of the Māori and Moriori to New Zealand

Bones of members of the Māori and Moriori people were returned to Aotearoa, New Zealand, during a repatriation ceremony at the Natural History Museum in Vienna.

September 27, 2022

European Cooperation with Austria's Educational Institutions

During an Erasmus+ networking meeting, the new European digital hub "European School Education Platform" was presented at a gala event. Furthermore, the European Innovative Teaching Awards (EITA) were awarded to three Austrian schools.

September 25, 2022

Reopening of the Bilateral Icelandic Embassy in Vienna

As a part of the reopening of the bilateral Icelandic Embassy in Vienna, Foreign Minister Alexander Schallenberg met with his Icelandic counterpart Thórdís Kolbrún Reykfjörd Gylfadóttir. Aside from bilateral issues, Iceland's upcoming presidency of the Council of Europe and the security situation in Europe were also discussed.

September 19, 2022

Austro-Arab Chamber Organised the “Ambassadors’ Meeting at Vienna School for International Studies”

The Vienna School of International Studies hosted the "Ambassadors' Meeting at Vienna School of International Studies", organized by the Austro-Arab Chamber (AACC).

September 14, 2022

Lufthansa and OMV Cooperate Over Sustainable Aviation Fuel

OMV, the international integrated oil, gas and chemical company headquartered in Vienna, and Lufthansa Group are expanding a partnership on sustainable aviation fuels. Germany's Lufthansa plans to stock up on sustainable aviation fuel (SAF) from OMV in the future.

September 13, 2022

Austria's Best Wines Are Awarded

One of the most famous Austrian wine competitions has tested 275 wines this year. SALON as the competition is called has chosen 21 of them as winners. For the first time, the wines were tasted and evaluated according to their origin and not by grape variety.

September 12, 2022

Austrian Gas Storage Facilities Over 70 Percent Full

Austria's gas storage facilities are already more than 70 percent full. The contingency plans to secure gas supplies that were put into action as a result of the war in Ukraine and the ongoing energy crisis go according to plan as announced by Austria's government.

September 12, 2022

Global Business Campaign ReFocus Austria to Be Continued

A lot of attention was given this year's Ambassadors' Conference in Vienna to Austria's export economy as well as to ReFocus Austria, the successful economic campaign that has now been continued.

September 9, 2022

Austrian Government has Agreed on Electricity Price Brake

The Austrian federal government has agreed on the long-discussed "electricity price brake" to cushion the high cost of energy. According to information from the federal government, each household will pay a lower electricity price for that share of electricity consumption which corresponds to 80 percent of the average consumption of an Austrian household in the previous year.

September 7, 2022

Austro-Arab Chamber Strengthens Relations with Kuwait, Saudi Arabia, Sudan and Egypt

The Austro-Arab Chamber of Commerce (AACC) strengthened its relations with Kuwait, Saudi Arabia, Sudan and Egypt. The AACC Secretary-General Mouddar Khouja met with important ambassadors and dignitaries from Kuwait, Saudi Arabia, Sudan and Egypt.

September 7, 2022

Austria Wants Covid Vaccine Contracts Renegotiated

Austria's Health Minister Johannes Rauch wants to renegotiate existing CoV vaccine contracts. Rauch said he wants to negotiate more flexibility with vaccine manufacturers at the informal meeting of EU health ministers in Prague.

September 6, 2022

OPEC+ Decides on Slight Cut in Production

The alliance of oil exporting countries cuts production. Saudi Arabia and Russia are sending a clear signal to the West. With the cutback, the hopes of oil importers in Europe that they would at least be relieved of the burden of crude oil in the face of rapidly rising gas prices are fading.

September 5, 2022

New School Year 2022/23 Starts in Vienna with New Challenges

The new school year begins in Vienna and eastern Austria. In addition to the Corona challenges and the energy crisis, which have almost become the norm, compulsory schooling for all Ukrainian children is now coming, and voices have already been heard that a shortage of teachers is imminent.

September 4, 2022

Austria's President Van der Bellen Brings in Experts on Energy and Climate Issues as Advisors

Ex-Verbund boss Wolfgang Anzengruber and Wifo economist Angela Köppl are volunteering their expertise to Austrian President Van der Bellen. According to the Federal President's Office, the war in Ukraine and inflation, as well as the slowly emerging energy crisis in Europe, call for expert advice on energy economics and climate issues.

August 31, 2022

Crisis Around Viennese Energy Supply Company "Wien Energie"

Austria's largest energy supplier urgently needs money to hedge forward transactions. Otherwise, the company would have to realize huge losses.

August 30, 2022

Austrian Chancellor Nehammer Calls for EU-27 to Stand Together for European Electricity Price Cap

Given the sharp rise in energy prices, Austrian Chancellor Karl Nehammer is calling for a European electricity price cap to "finally" put a stop to "this madness that is currently taking place on the energy markets. According to Nehammer. this is only possible through a European solution.

August 29, 2022

Climate Bonus and Anti-Inflation Bonus Come Earlier

The payment of the climate and anti-inflation bonus announced by the Austrian federal government will start in September. Because of inflation and the climate bonus, in 2022 all adults who have a main residence in Austria for at least six months will receive €500 and children €250, regardless of their citizenship and age.

August 25, 2022

Austria's Foreign Minister Schallenberg at the European Forum Alpbach 2022

Through its work, the European Forum Alpbach also functions as an interactive, open think tank and a source of inspiration for Austrian politics. Austria's Foreign Minister Alexander Schallenberg is attending the European Forum Alpbach in Tyrol.

August 24, 2022

UNIDO and Japan Cooperation for Resilient, Inclusive and Sustainable Industrial Development in Africa

The Eighth Tokyo International Conference on African Development (TICAD8), which will be held on 27 and 28 August, 2022, in Tunis, is approaching. A series of TICAD8 official side events will be held online from 23 to 26 August by the Vienna-based United Nations Industrial Development Organization (UNIDO).

August 23, 2022

French Investor Meridiam Establishes Joint Venture with Magenta Telekom for Glass Fiber Expansion in Austria

Magenta Telekom and French investor Meridiam have agreed to establish a strategic partnership for Austria's largest private fiber expansion initiative. By 2030, the companies will invest 1 billion Euros in the roll-out of more than 650,000 new high-speed Internet connections for households and businesses.

August 23, 2022

ICARST 2022: Applying Radiation Science and Technology in Everyday Life

The International Conference on Radiation Science and Technology (ICARST) organized by the IAEA will be held this week in Vienna. Determining the presence of microplastics in environmental samples, removing pesticides from agricultural soil and studying how to grow tomatoes in outer space are all possible thanks to radiation techniques and will be discussed.

August 22, 2022

Vienna Increases Fees for Public Services

The City of Vienna increases the fees for water, sewage, waste disposal as well as the prices of parking tickets. The adjustment of tariffs for municipal services is made in Vienna based on the applicable valorization law.

August 18, 2022

Austria's Gas Storage Facilities Almost 60 Percent Full

As a result of the war in Ukraine, contingency plans are being put in place in Europe, as well as in Austria, to secure gas supplies. Gas storage facilities in Austria are 59.83 percent full. This means that a total of 57.2 terawatt hours (TWh) of natural gas is stored in domestic storage facilities.

August 17, 2022

Space Diplomacy: Moldova Deploys First Satellite from International Space Station

The Republic of Moldova successfully deployed its first satellite, TUMnanoSAT, from the International Space Station (ISS). Under the KiboCUBE program, the United Nations Office for Outer Space Affairs (UNOOSA) and the Japan Aerospace Exploration Agency (JAXA) contributed to this achievement.

August 15, 2022

Worldwide Awards for Austria's Wines

In international trade magazines and at renowned wine competitions, Austrian wines generated enthusiastic voices and won top ratings, gold medals and coveted trophies.

August 9, 2022

The Importance of Migrant Businesses for Vienna's Economy

It is common to see migrants run and maintain many businesses in Vienna. They offer a variety of different products and services, but they all share one thing: they make a significant contribution to the Viennese economy. In a new study, migrant businesses were examined and their impact on Austria's capital was clearly demonstrated.

August 8, 2022

Virtual Economic Forum between Tunisia and Austria

A Virtual Economic Forum titled "Tunisia & Austria - Promoting Business & Investment Cooperation", was held online by the Tunisian Embassy in Vienna and the Austro-Arab Chamber of Commerce (AACC) in collaboration with the Tunisian Foreign Investment Promotion Agency (FIPA Tunisia).

August 7, 2022

FIFA and UNODC Against Match-Fixing in Football

For the first time, FIFA and the United Nations Office on Drugs and Crime (UNODC) have conducted a joint international training program to support FIFA's 211 member associations in the fight against match-fixing in football.

August 3, 2022

Iran Nuclear Talks: Iran Can Build Nuclear Bomb, But Does Not Intend to Do So

Iran says it is technically capable of producing a nuclear bomb. But the country does not intend to do so, the semi-official Fars news agency quoted the head of Iran's Atomic Energy Agency, Mohammed Eslami.

August 1, 2022

Earth Overshoot Day: World has Already Used Up Resources

The Earth's natural resources for this year will have been depleted by tomorrow. By tomorrow, ecosystems would need about a year to replenish their resources. According to the Global Footprint Network, which is based in the United States and Switzerland, Earth Overshoot Day is slightly earlier this year than last.

July 27, 2022

European Forum Alpbach Will be Opened by Moldovan President Maia Sandu

The Moldovan President, Maia Sandu, will attend the opening of this year's European Forum Alpbach (EFA) together with Federal President Alexander Van der Bellen on August 22. At the start of the event, they will jointly address the EFA's annual theme, The New Europe, and discuss what consequences, in light of Russia's Invasion of Ukraine, Europe must draw from its current weakness and its inaction in the past.

July 27, 2022

Wirecard Scandal: New Indications for Marsalek's Stay in Moscow

Former Wirecard board member Jan Marsalek, who has been in hiding for two years, could be living in Moscow under the protection of Russian intelligence services.

July 26, 2022

Austria Will Take Common Line with Germany on Gas Storage

Germany and Austria have joint responsibility for storing gas, according to Energy Minister Leonore Gewessler (Greens). "We have always coordinated well with Germany," the minister said today, referring to the Haidach storage facility near Salzburg, which is also important for Germany.

July 25, 2022

Ukrainian Refugees in Austria Feel Welcome

Displaced women from Ukraine were interviewed by the Austrian Institute for Family Research at the University of Vienna on behalf of the Austrian Integration Fund about their current life situation, security and care, and plans for the future.

July 24, 2022

Austria has the Highest Share of Female Startups in the EU

The Federal Ministry of Labor and Economy (BMAW) had surveyed the financing situation of female startups for Austria and Europe and discussed it at a startup breakfast together with representatives of the startup community at the BMAW. At 36 percent, Austria currently has the highest proportion of female startups in the EU.

July 20, 2022

Reform of the Red-White-Red Card Passed by Parliament

In order to eliminate the shortage of suitable workers, the Austrian parliament recently decided to change the criteria for the Red-White-Red Card. In future, it should be easier to obtain this card. Austria's economy is relieved. If you want to know the exact changes, read on!

July 11, 2022

Austrian Ministers Visit Egypt on a Joint Trip

Austrian Foreign Minister Alexander Schallenberg and Austrian Interior Minister Gerhard Karner traveled together to Egypt, to strengthen the cooperation with the Arabic Republic and North Africa. The meetings focused on the war in Ukraine, its global consequences, illegal migration, combating human trafficking and human rights.

July 3, 2022

New EU Roaming Rules: What you Need to Know When Making Calls Abroad

From 1 July, new roaming regulations will come into force in the EU. These are designed to make it easier for EU citizens to use mobile data and make calls from abroad to home. Launched in 2017, the project is now being extended for another 10 years and is expected to bring significant benefits for businesses and EU citizens.

June 30, 2022

Russian Food Markets in Vienna Under Pressure

Specialty foods such as vodka, buckwheat, and chocolate are available in Vienna's Russian groceries. Since Moscow invaded Ukraine, Austrian-Russian traders have been worried about import difficulties and hostility.

June 28, 2022

Moody's Declares Russia in Default

The U.S. company Moody’s announced in New York that it was concerned with interest payments on two government bonds that had not been received by creditors even after a default period of 30 days had expired.

June 28, 2022

Austria has Frozen the Assets of Russian Oligarchs Worth 1.5 Billion Euros

The Austrian authorities have frozen the assets of 1.5 billion euros belonging to Russian oligarchs since the beginning of the war in Ukraine.

June 26, 2022

Three Seas Initiative in Riga for Common Ground against Russia

The Three Seas Initiative met in Riga. Austria and eleven other Central Eastern European countries accepted Ukraine as a member of the Three Seas Initiative at the Presidential Summit in Riga. Austrian President Van der Bellen traveled to Riga and appealed for unity against Russia.

June 20, 2022

Austria Goes Back to Coal Power

The Mellach heating power plant in Styria, which is currently shut down, is to be converted so that electricity and heat can be generated there again from coal in an emergency. This was confirmed by Austria's Chancellor Nehammer.

June 20, 2022

UNIDO Strengthens Cooperation Between Italy, UN Agencies and Private Sector

United Nations Industrial Development Organization Chief Gerd Müller traveled to Italy. The aim of the trip was to intensify the cooperation with Italy. Müller met Italian diplomats, representatives of the business community and the United Nations in Rome and signed an agreement with the Italian energy company Eni.

June 19, 2022

Cooperation Program Between Indonesia and Austria Receives International Award

A project realised in the course of an international cooperation programme between Indonesia and Austria recently received the coveted Constantinus Award 2022 in the category "International Projects". The cooperation between the Austrian company Bit Media and the state of Indonesia involved the development of a maritime vocational training centre at the Vocational and Productivity Training Centre (BBPVP) Medan in Indonesia.

June 16, 2022

Vienna Stock Exchange Prize 2022 Back on Stage Again

This year, for the first time, the Vienna Stock Exchange Award went to the Styrian printed circuit board manufacturer AT&S. Second and third place went to the oil and gas group OMV and the building materials manufacturer Wienerberger. The prize was awarded for the 15th time.

June 15, 2022

Austrian Chancellor Strengthening Partnership with Estonia

Austrian Federal Chancellor Karl Nehammer met the Estonian Prime Minister Kaja Kallas in Tallinn for working talks. The meeting focused on bilateral relations, digitization, the war in Ukraine and the energy transition of the European Union.

June 10, 2022

Austria Supports Women From Ukraine With Their Integration Into Austrian Working Life

The 100 Women - 100 Opportunities program supports Ukrainian women with their integration into the Austrian labor market. This New COMPASS Support Program was initiated by Austrian Federal Minister for Women, Family, Youth and Integration Susanne Raab, the Austrian Integration Fund, LEA and private businesses.

June 7, 2022