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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)
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
U.S. Tariffs Cause Tensions: Austria between Willingness to Negotiate and Strong Response
Transatlantic economic relations are once again being put to the test. Following the US decision to impose import tariffs on European products - particularly steel, aluminum, and a range of industrial goods - under former President Donald Trump, the EU has responded with a second package of sanctions. Stakeholders in Austria are also taking a clear stance - between calls for diplomacy and calls for consistency.
April 9, 2025
Economic Dialogue with a Signaling Effect: China and Austria Intensify Cooperation
Economic relations between the People's Republic of China and Austria have taken a significant step forward. The focus was on the official visit of a high-ranking Chinese business delegation led by Ren Hongbin, President of the China Council for the Promotion of International Trade (CCPIT), accompanied by intensive talks with political decision-makers, entrepreneurs, and institutions in Vienna.
April 7, 2025
René Benko Remains in Pre-Trial Custody: Investigations Against Signa Founder Widen
The Regional Court for Criminal Matters in Vienna has extended the pre-trial detention of Austrian real estate entrepreneur René Benko by a further two months. The court cited the continuing danger of the offense as the reason for this.
April 7, 2025
Vienna Plans Traffic-Restricted Inner City with Camera-Based Access Control
After years of discussion, the traffic restriction measures in Vienna's inner city are about to be implemented. A planned amendment to the Road Traffic Act (StVO) is to create the legal framework for automated camera access management. This amendment is being submitted to the government by Transport Minister Peter Hanke (SPÖ) and is due to come into force on January 1, 2026.
April 6, 2025
Polish Diplomats Discuss New Geopolitical Reality at Conference in Vienna
Under the title “European Security in the New Geopolitical Reality”, political and diplomatic representatives, as well as experts, gathered to discuss Europe's security policy challenges in times of global upheaval. The conference, organized by the Polish Embassy in Vienna and the Institute for the Danube Region and Central Europe (IDM), sent a strong signal about the need for a common European course.
April 2, 2025
China's Ambassador Visits the Austrian Theatres-Holding in Vienna
The recent visit of Chinese Ambassador Qi Mei to the Bundestheater-Holding underlines the increasing importance of cultural exchange between Austria and China. The focus is on joint theater projects, artist exchanges, and the strengthening of bilateral relations in the performing arts.
April 2, 2025
Taxes Rising, Deficit Growing: Austria Faces EU Criminal Proceedings
Austria is threatened with EU deficit proceedings - at 4.7 percent of GDP, the budget deficit is well above the Maastricht limit. To counteract this, the federal government is taking the first noticeable steps - above all, tax increases on tobacco, betting, e-vehicles, and court fees. However, experts warn that the road to budget consolidation is rocky and politically explosive.
April 1, 2025
India and the IAEA Intensify Cooperation: Focus on Nuclear Energy for Development and Health
During a high-level visit to India, Rafael Mariano Grossi, Director General of the International Atomic Energy Agency (IAEA), is strengthening cooperation with New Delhi in the areas of nuclear energy, training and the fight against cancer. A new hub for cancer treatment, a course in nuclear technology, and a clear geopolitical signal are the focus.
April 1, 2025
Ambassador Qi Mei Visits the University of Vienna: Sinology as a Bridge between China and Austria
In the spirit of bilateral relations between China and Austria, the Chinese Ambassador to Austria, Qi Mei, paid an official visit to the Department of East Asian Studies and Sinology at the University of Vienna. Her visit underlined the growing importance of academic exchange and intercultural understanding in an increasingly interconnected world.
April 1, 2025
Former Chancellor Karl Nehammer Nominated for Top Job at EU Bank
Finance Minister Markus Marterbauer (SPÖ) has nominated former Federal Chancellor and ex-ÖVP leader Karl Nehammer for a position on the Board of Directors of the European Investment Bank (EIB).
April 1, 2025
Vienna as a Safe Haven for Ukrainian Corruption Suspects
In recent years, Vienna has become a preferred retreat for Ukrainian citizens who are wanted in their home country on corruption charges. Among them are high-ranking personalities such as the former head of the National Bank, Kyrylo Shevchenko, a former deputy minister, the chairman of a state-owned arms company, a former member of parliament, and several oligarchs. Austria's cautious extradition practice compared to countries such as Germany or Poland contributes to this trend.
March 31, 2025
Rediscovered Turner on Offer in Vienna for 38 Million Euros
A true treasure of art history is currently on sale at the Artziwna Gallery in Vienna: A rediscovered painting by the British Romantic painter William Turner is up for direct sale for a whopping 38 million euros.
March 31, 2025
Austria's Budget Crisis: Between Austerity Measures and Deficit Procedures
The Austrian government is facing one of the biggest financial challenges in recent years: the budget deficit, originally estimated at 6.4 billion euros, has almost doubled according to current forecasts and could reach up to twelve billion euros. This dramatic development forces the coalition of ÖVP, SPÖ, and NEOS to rethink their austerity plans and possibly face an EU deficit procedure.
March 31, 2025
Beware of Online Fraud when Buying Vignettes
Beware when buying highway vignettes online: Fraudsters shamelessly exploit the search for cheap offers. Drivers are increasingly falling for fraudulent websites when purchasing vignettes, sometimes losing huge sums of money in the process. ASFINAG is now issuing another urgent warning about fake stores and giving important tips on how to protect yourself from such scams.
March 26, 2025
Signa Insolvency: Trustee in Bankruptcy Demands the Return of Gifts From Nathalie Benko
Real estate and trading mogul René Benko has been in custody in the Vienna-Josefstadt prison since January 24, 2025. Meanwhile, bankruptcy trustee Andreas Grabenweger is trying to shed light on the complex asset structures surrounding the Signa Group and uncover possible asset shifts.
March 24, 2025
Steve Witkoff: From Real Estate Mogul to US Envoy to the Middle East
Steve Witkoff, US special envoy to the Middle East, has played a crucial role in brokering the Gaza ceasefire and peace talks on Ukraine, while also negotiating with Russia on Ukraine's future. Steve Witkoff, a lawyer and developer, has a strong bond with President Trump, dating back nearly four decades.
March 23, 2025
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