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

South Stream Pipeline May Run Across Croatia

Instead of Hungary, the pipeline project South Stream may pass through Croatia. Gazprom currently negotiates with the Croatian operator Plinacro.

August 20, 2012

International Raw Materials Conference EUMICON 2012

The event takes place from 19th to 21st September 2012 in Leoben, Austria. Top decisionmakers will come together.

July 30, 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

OMV Resumes Production Works in Yemen

The Austrian oil and gas group may get oil from Yemen soon. In Bulgaria, OMV participates in exploitation works.

July 17, 2012

Rising Attractiveness of Gold

Austrian Erste Group: „Prolonged negative real interest rates and global debt crisis set to push gold price higher.“

July 11, 2012

Vienna Stock Exchange: New Trading System for Gas Exchange

Trayport ETS: New trading system on CEGH Gas Exchange of the Vienna Stock Exchange.

July 6, 2012

„Up to 70% of European Steel Capacities are Endangered“

Wolfgang Eder, CEO of Austrian voestalpine, thinks that the European steel industry faces fierce competition from the East.

July 3, 2012

Nabucco „Not Essential“ for EU

For the EU Commissioner Günther Oettinger, it is not important which pipeline ships natural gas to Europe.

June 22, 2012

OMV and Wintershall Sign Upstream Agreement with ADNOC

OMV and Wintershall will appraise the sour gas and condensate field in Shuwaihat in the Western Region of Abu Dhabi. OMV´s CEO Gerhard Roiss sees strengthened relations with the United Arab Emirates.

June 21, 2012

Bank Austria Sells Headquarters

The highest-bidder procedure is to lead to a sale of the property by the end of 2012. Bank Austria will retain its property until the new headquarters has been completed.

June 15, 2012

„Nabucco Will Die A Hundred Times“

OMV´s CEO Gerhard Roiss promotes the new „Nabucco West“ project and underlines the high probability of success.

June 14, 2012

Austrian E-Control Supports Shale Gas Exploitation

Walter Boltz, CEO of the Austrian energy market regulator, thinks that Europe would benefit from the shale gas exploitation.

June 13, 2012

Austrialian Mining Company Plans to Exploit Lithium in Austrian Alps

Global Strategic Metals NL plans a site with an investment volume of € 125m in Austria. For Austria, the lithium deposits would be a „highly strategic asset“.

June 9, 2012

„India and China are not the Problems“

Voestalpine´s CEO Wolfgang Eder thinks that competitors from Turkey, Russia and Ukraine may become problematic for the European steel industry.

June 5, 2012

Energy: Germany and Austria Agree on Closer Cooperation

German dena and Austrian Verbund advocate stronger German-Austrian energy partnership and aim to build more pumped storage power plants for the integration of wind and solar power.

June 1, 2012

„Nabucco Is Still an Option“

Elshad Nassirov, Vice-Chairman oft he Azerbaijani gas company Socar, argues that BP´s statement about Nabucco was premature.

May 29, 2012

BP: „Nabucco is Dead“

British Petroleum pronounces the initial Nabucco project dead. RWE supports the new version “Nabucco West”.

May 25, 2012

“Nabucco West” Submits Proposal

The proposal for the downsized “Nabucco West” Scenario was submitted to Shah Deniz II Consortium.

May 18, 2012

Another Setback for Nabucco

The German RWE considers leaving the natural gas pipeline consortium. Also the Hungarian MOL will exit.

May 16, 2012

Voestalpine Establishes Group for Centralized Purchase of Natural Gas

The voestalpine Group has established Austria’s first industrial gas balance group for the centralized purchasing of natural gas.

May 11, 2012

As Recession Grips its Neighbors, Austria May Escape the Carnage

The world’s economic focus continues to be Europe and whether its widening list of travails will once again derail the global recovery, as it did a year ago at this time.

May 8, 2012

OMV: „Nabucco is More Alive than Ever”

Despite the exit of Hungarian MOL, the Austrian oil company underlines the importance of Nabucco. CEO Roiss holds on Nabucco.

April 28, 2012

Pecik and Sawiris to Enter Telekom´s Supervisory Board

Together with his Egyptian partner, Ronny Pecik will enter Telekom Austria´s supervisory board. Pecik wants to stop the generous dividend policy.

April 28, 2012

Roiss Claims European „Fracking“ Strategy

OMV´s CEO Gerhard Roiss calls for a common strategy to exploit shale gas. The European industrial sector should become more competitive.

April 18, 2012

Austrian Opposition Aims to Bring Back Gold Reserves

The two Austrian opposition parties FPÖ and BZÖ push the Austrian Central Bank (OeNB) to disclose information about the gold reserves. OeNB refuses to do so.

April 14, 2012

Voestalpine Indicates Significant Increase in Revenues

The Austrian steel company recorded about € 12.0bn in revenues last financial year. 25% of the revenues are based on exports apart from Europe.

April 12, 2012

Where is Austria´s Gold?

The major part of Austria´s gold reserves should be located in the U.S. The Austrian Central Bank does not answer any questions.

April 10, 2012

„Natural Gas to Become Most Important Energy Source“

Gerhard Roiss, CEO of the Austrian oil and gas group OMV pushes the EU to recognize the importance of natural gas.

April 7, 2012

OMV Gives In: No Fracking in Austria

The Austrian oil and gas company OMV reacts to the citizen´s protests and gives up its natural gas exploration plans in Northern Austria.

March 5, 2012

Merger of Nabucco-TANAP Discussed

Members of the gas pipeline projects Nabucco and TANAP talk about a merger in Vienna. The Turkish Minister of Energy participates therein.

February 28, 2012

Significant Increase in Austrian Steel Exports to U.S.

U.S. Steel Imports are rising substantially, prices are on the fall. Austrian suppliers could raise their share.

February 27, 2012

Nabucco Still Competes For Gas in Azerbaijan

The gas pipeline project, in which the Austrian oil company OMV is engaged, now enters the critical phase.

February 21, 2012

Market for Solar Power Shrinks

The Austrian renewable energy market showed a substantial slump in 2011. Subsidies were cut considerably.

February 20, 2012

Decrease in Austrian Oil and Natural Gas Production

In 2011, production of oil was down by 4.7% to 919,437 tonnes. Natural gas production fell by 6.6%.

February 14, 2012

Massive Increase in Energy Consumption

Austrian power plants are running at full speed. Energy supply was up by 14% last week.

February 11, 2012

Gazprom to Double Natural Gas Reserves in Europe

The Russian natural gas supplier Gazprom intends to improve supply security in Europe. Gas reserves in Austria should be extended too.

February 10, 2012

Shortage in Energy Supply: Austria Helps Germany Out

In Germany, wind power plants record a decrease in energy production. German energy suppliers called for Austrian electricity.

February 9, 2012

Oettinger Expects Succesful Contracts Over Gas Deliveries

The EU-Commissioner for Energy, Günther Oettinger, anticipates that Azerbaijan will close contracts over natural gas deliveries within the coming months.

February 8, 2012

Merger of Glencore and Xstrata: voestalpine Not Concerned

The Austrian steel company does not feel affected by the merger between the two major commodity corporations Glencore and Xstrata.

February 8, 2012

Shortened Natural Gas Supply from Russia

The Austrian oil and gas group OMV reports that Russian natural gas exports only reach 70% of its normal level.

February 2, 2012

RWE Considers Alternative to Nabucco

German RWE shows interest in rival project TANAP and considers getting out of Nabucco.

January 20, 2012

Central European Gas Hub Sets a New Record in Gas Trading

Trading volume of the Austrian gas hub rose to 40 billion cubic metres in 2011. This is an increase by 15% compared to the previous year.

January 13, 2012

Strong Rise in Household Energy Prices

In November 2011, Austrian household energy prices increased by 12.6%. The main drivers were heating oil and fuels.

January 3, 2012

Energy Prices Rose by 12% in October

Austrian households have to pay a significant higher price for fuel and heating oil. Against October 2010, diesel price rose by 20%. Heating oil was up by 21.4%.

November 28, 2011

Interest for A-Tec Subsidiary Brixlegg

The copper segment of the insolvent Austrian A-Tec group could find a new owner soon. An Austrian aluminum trader intends to purchase Brixlegg.

November 26, 2011

Wholesale Prices Still on the Rise

Austrian wholesale price index in October 2011: +6.2% against October 2010.

November 7, 2011

Losses for Kommunalkredit Probable

The nationalized Austrian Bank has to build major provisions. Write-offs up to € 500m are possible.

November 1, 2011

Gold Remains Popular for Austrians

27% of Austrians expect higher profits from gold than from shares, bonds or investment funds.

October 22, 2011

RBI: Capital Injection for Hungarian Subsidiary Likely

The Austrian bank’s losses from the conversion of foreign currency loans will amount to approximately € 100m.

October 7, 2011

Strong Rise in Industrial Prices Holds On

Austrian Wholesale price index in August 2011: +6.9% against August 2010. However, compared to July 2011, prices decreased.

September 7, 2011