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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)
Business Immigration Office: Vienna Launches New Service Point for Expats and International Companies
As of today, Vienna has its own service office for international professionals (expats) and companies for matters of residence law as well as consultations.
October 13, 2021
Number of Foreign-Controlled Enterprises in Austria Declines
About 11,700 companies in Austria were owned by foreign groups or had owners based abroad in 2019, down about 200 companies or 1.6% from the previous year. Conversely, Austrian companies owned about 6,000 subsidiaries abroad; this was about 0.2% more than the year before.
October 12, 2021
World Expo Dubai: Architecture Award for Sustainable Austria-Pavilion
The Austrian pavilion at the World Expo in Dubai by querkraft architekten consisting of 38 white cone towers has won the first prize in the category "Sustainable Architecture" at the Global Design & Architecture Design Awards 2021.
September 29, 2021
OPEC's World Oil Outlook 2021 Launched in Vienna
OPEC's flagship annual publication, the World Oil Outlook 2021, was launched via videoconference in Vienna. OPEC forecasts 6% increase in global oil demand in 2021. Learn about the specific highlights of this year's World Oil Outlook.
September 29, 2021
Real Estate in Austria: Purchase Prices of Houses and Apartments Up 10.7 Percent
The Austrian House Price Index - prices on the residential real estate market - continue to rise. With an increase of 10.7% compared to the 1st half of 2020, the price increase for houses and apartments was significantly above the average of recent years. Detailed information on the house price index can be found below.
September 23, 2021
ÖBAG: Dr. Christine Catasta Appointed to the Supervisory Boards of Telekom Austria and OMV
ÖBAG CEO Dr. Christine Catasta was appointed to the Supervisory Boards of Telekom Austria (A1) and OMV. With her appointment, both companies have strengthened their women's quota, and OMV has reached parity between the number of male and female capital representatives. Read more about Dr. Catasta.
September 13, 2021
Vienna Economic Forum: Ambassador of Romania Becomes New Member of the Ambassadors Committee
The Romanian Ambassador in Vienna, H.E. Emilian Hurezeanu, was welcomed as a new member of the Ambassador Committee of the Vienna Economic Forum.
September 9, 2021
Women on the Boards of Austrian Listed Companies: Only 14 out of 192
A study shows that women are still significantly underrepresented on the boards of Austrian companies on the Vienna Stock Exchange. The number of female board members in Austria's listed companies has decreased by one woman compared to the beginning of 2021, leaving the total at 14 out of 192. Read more about the details of the study.
September 6, 2021
Wirecard Scandal: Marsalek Confidant Arrested in Singapore
A close confidant of the Austrian-born former Wirecard board member Jan Marsalek, who is wanted on an international arrest warrant, has been arrested in Singapore. Briton Henry O'Sullivan is considered a close confidant of Marsalek and plays an alleged key figure in the multi-billion Wirecard fraud scandal.
September 1, 2021
Alfred Stern Takes Over from Rainer Seele as CEO of OMV
Effective September 1, 2021, Alfred Stern will assume the position as Chairman of the Executive Board and CEO of OMV, the Austrian oil and gas group.
August 31, 2021
Soros Becomes Key Sponsor of the Forum Alpbach
Forum President Andreas Treichl, former boss of the Erste Group, has succeeded in acquiring US philanthropist George Soros (91), the founder of the Open Society Foundations (OSF), as a sponsor of the European Forum Alpbach, the annual exchange of ideas in the Tyrolean mountains.
August 27, 2021
Casinos Austria International in Japan: Casino Resort Milestone Completed
CAI, a wholly owned subsidiary of Casinos Austria AG, has cleared an important hurdle in an elaborate selection process in Japan (Nagasaki Prefecture) for one of the three casino licenses to be awarded.
August 20, 2021
Austrian Wholesale Prices: Largest Increase Since March 2011
In July 2021, wholesale prices saw their largest year-over-year increase since March 2011. The increases can be seen in the steel industry, gas industry, agricultural industry, and more. Read about which other industries the increases are affecting and just how significant the increases are.
August 6, 2021
Where to Get a Paid Corona Test in Vienna
Vienna offers many COVID-19 testing options, both free and paid. Read about where to get paid PCR-tests, antigen tests, and or antibody tests for the coronavirus in Vienna.
August 4, 2021
Economic Opportunity: Malaysian-Austrian Joint Statement on Cooperation
Malaysian Minister of International Trade and Industry Mohamed Azmin Ali met with the Austrian Minister of the Economy Margarete Schramböck. The pair discussed cooperation in the high-tech industry, education and more. The two ministers also signed a joint statement, affirming Malaysia and Austria's intention of further economic cooperation.
August 3, 2021
Pioneering Hydrogen Alliance between the United Arab Emirates and Austria
On the occasion of the visit of the Ruler and Crown Prince of the Emirate of Abu Dhabi, Sheikh Mohamed bin Zayed bin Sultan Al Nahyan to Austria, the United Arab Emirates (UAE) and Austria agreed on a strategic partnership. The core of the agreement is closer international cooperation in the fields of hydrogen, renewable energy, youth exchange, green technologies, digital economy and research, according to the UAE Embassy in Vienna and Chancellor Kurz.
August 1, 2021
Vienna Airport: Resumption of Flights to Toronto, Abu Dhabi, Riyadh and Jeddah
Vienna International Airport announced the resumption of flights to Toronto, Canada; Abu Dhabi, UAE; and Riyadh and Jeddah, Saudi Arabia. The flight resumptions will also provide more connection opportunities to other destinations around the globe.
July 28, 2021
What Is the Joint Vienna Institute and What Does It Do?
The Joint Vienna Institute (JVI) is a Vienna based International Organization which provides policy-oriented training primarily to public sector officials from countries in Central, Eastern and Southeastern Europe, the Caucasus and Central Asia, and other selected countries. It has been a hallmark of cooperation between the IMF and Austria for 29 years. Find out how the institute justifies its existence.
July 22, 2021
Opportunities for Businesses in India and Austria
The Ambassador of India to Austria, H.E. Jaideep Mazumdar, and the President of the Federation of Austrian Industries discuss collaboration between Indian and Austrian companies.
July 19, 2021
The Rich in Austria: Dollar Millionaires Up 5.3 Percent to Record 163,300
The number of so-called high net worth individuals (HNWIs) in Austria grew by 5.3 percent from 2019 to 2020 to 163,300 dollar millionaires. This is 8,200 more HNWIs than in the same period last year.
July 17, 2021
City of Vienna and Vienna Business Agency Create New Business Immigration Office
The Vienna Business Agency and Vienna City Government have partnered to create the Business Immigration Office (BIO). The BIO will help streamline residence permit and immigration issues and offer help with integration for key personnel and highly skilled workers.
July 15, 2021
Public Transport in Austria: When and How Will the Low-Cost Flat-Rate "1-2-3-Ticket" Be Introduced?
Before the end of 2021, it is to become possible to use all means of public transport throughout Austria for three Euros a day, as part of an annual ticket for 1,095 Euros. While six federal states have signed an "implementation agreement," the states of Vienna, Lower Austria and Burgenland are still missing. What is the next step and when can the ticket be expected?
July 14, 2021
Arab Ambassadors in Vienna and Economic Relations between their Countries and Austria
The Ambassadors from Egypt, Iraq, Jordan, Morocco, Oman, Palestine, Qatar, Tunisia, and the UAE to Austria provided an economic overview of their countries and their relationship with Austria in an online forum with the Austro-Arab Chamber of Commerce (AACC).
July 11, 2021
Latest Travel Restrictions From Austria to the USA
Travel to the USA from Austria is still restricted due to COVID-19, but the US Embassy Vienna has provided rules for National Interest Exceptions (NIE). Learn more about them before traveling.
July 8, 2021
Krakow and Vienna Will Cooperate Closely in the Future
The Polish city of Krakow and Austria's capital Vienna have entered into a cooperation agreement, which lasts for the next four years. Krakow's Mayor Jacek Majchrowski and his Viennese counterpart Michael Ludwig will be working together on various topics. Read all about the agreement below.
June 30, 2021
Schallenberg and EU Foreign Ministers Agree on Sanctions Against Belarus
At the Foreign Affairs Council (FAC) the EU Foreign Ministers have agreed upon renewed and tightened sanctions against the Belarusian regime. Austrian Foreign Minister Schallenberg warns that the agreed measures must not hit the civil society. Read more below.
June 22, 2021
Prague and Vienna Enter Into Cooperation Agreement
The Czech and Austrian capitals have agreed on a cooperation agreement that will cover information exchange in the fields of digitalization, sustainable development, and transport management. Read more about the agreement below.
June 17, 2021
Europa Forum Wachau: "Include Western Balkans in EU Programs"
At the 25th Europa Forum Wachau, Austrian Foreign Minister Alexander Schallenberg spoke out in favor of finding creative approaches to bind the Western Balkan states to the EU even before a possible EU accession.
June 16, 2021
EU Sets Stage for Green Passport
The European Union has agreed on the legislation of an EU wide COVID digital certificate. The certificate should facilitate travel within Europe and increase cross-border movement as of July 1. Read more below.
June 15, 2021
Covid-19 in Austria: What Applies Now?
As of today, June 10, Austria faces fewer restrictions. While the curfew for restaurants is being extended to 12 a.m. now, even fewer restrictions will be in place in July. Read more about what applies now below.
June 10, 2021
Jewish Museum Vienna Follows Path of Digitalization
The Jewish Museum Vienna has launched its new website, which will provide visitors with a clear and concise overview of the museum and its activities. According to Director Spera, this is part of the comprehensive digitalization strategy of the museum.
June 9, 2021
Innovation is Key for Austria's Climate Neutrality by 2040
At the Mission Innovation Ministerial Summit in Chile, Austria's Climate Protection Minister Leonore Gewessler and her international counterparts stressed the importance of innovation for achieving the Paris Agreement.
June 4, 2021
New CEO for OMV: "Beginning of a Major Transformation"
The Austrian multinational company OMV has appointed a new CEO. After the current and parting CEO Rainer Seele has been facing heavy public criticism, OMV will now try to rebuild its image.
June 2, 2021
Covid-19 in Austria: Easing of Measures in June and July
The Austrian government has announced a reduction of restrictive measures for June and July. A return to normality, as Austria's Chancellor Kurz has always promised, might be possible with a few exception by late summer. Find out more about every change below!
May 31, 2021
2025: Rail Connection Vienna - Bratislava in 45 Minutes
Cutting the travel time between Vienna and Bratislava short by 15 minutes is the goal of the planned double-track expansion between the EU capitals. Read more about the implementation and the benefits of the construction works.
May 28, 2021
New Cargo Airline Relocates to Austria
Express service provider DHL Express is relocating a large part of its cargo airline from England to the Vienna area. The new cargo airline for the European market, based in Austria, is said to be a strong signal for the location.
May 26, 2021
Vienna Selected as Most Desired Luxury Travel Destination
Vienna has one yet another award. After being selected as the most liveable city of the world for a number of years already, Vienna has now been awarded the prize for the "Most Desired Preferred Destination" by the luxury travel network "Traveller Made".
May 26, 2021
How Expensive is Rent in Austria?
The rent costs in Austria vary depending on the duration, region and type of rental segment. Find out more about the exact amounts you have to pay across Austria!
May 25, 2021
EU Countries Agree on Green Passport by July, Austria Plans it for June
The EU countries and EU Parliament have agreed on an Europe-wide "Green Passport" by July 1, while Austria intends to have its Green Entry Pass ready by the beginning of June. Can the Austrian solution be implemented in the EU-wide certificate? Find out below!
May 21, 2021
Berlin - Prague - Vienna: Plan of 4 Hour Rail Connection
Berlin to Prague to Vienna in four hours? A travel time that is now only possible via plane will become reality via a rail connection. A memorandum to this effect was signed by Germany, the Czech Republic and Austria.
May 19, 2021
How to Get Into Austria as of May 19
In line with the opening steps in Austria, the government has announced new entry regulations, which should ease the travel to Austria. Read all about the regulations below!
May 18, 2021
UK and Austria Work on Post-Brexit Agreements
During his visit to London, Austria's Foreign Minister Alexander Schallenberg met with his British counterpart Dominic Raab and with Brexit Minister David Frost. Both the United Kingdom and Austria have reiterated their commitment to bilateral cooperation.
May 18, 2021
Austrian Railways Relaunch International Connections
It is now once again possible to travel to European metropolises with the Austrian Railways (ÖBB). With the opening steps in the various areas of public life in Austria on May 19, the ÖBB has also revealed some changes to its schedules.
May 17, 2021
Viennese Start-Up Event Reaches 10 Million People
The Viennese startup event ViennaUP'21, which took place from April 27 to May 12 in a virtual format, can be viewed as a success. The reasons behind its success, the highlights of the event as well as what remains can be found out here!
May 14, 2021
Slovakian Prime Minister Meets Kurz and Van der Bellen
The newly appointed Prime Minister of Slovakia Eduard Heger has travelled to Vienna to meet with Chancellor Sebastian Kurz and President Van der Bellen. On the agenda of the working meetings were the Covid-19 pandemic, border management and nuclear energy. Read below to find out more about possible bilateral agreements with regard to the "Green Passport".
May 6, 2021
Unemployment Decreases: Austria's Economy Trends Upwards
Austria's economy and employment show signs of recovery. The recent unemployment figures show a decline of about 8.7 percent in April compared to the previous month. Compared to last April, which was one of Austria's first months in the midst of the pandemic, this is a decrease of 32 percent.
May 4, 2021
Austrian Multinational Company Loses Current CEO
The Austrian multinational corporation OMV has announced that its current CEO, Rainer Seele, will end his term in June 2022. Only recently, criticism against OMV and Seele have increased. Find out more about how his end at OMV and the criticism relate.
May 3, 2021
Schallenberg and Ambassador to the U.S. Weiss Talk with Austrians in the United States
Austria's Foreign Minister Alexander Schallenberg and Austrian Ambassador to the United States in Washington, Martin Weiss, have held a virtual live talk with around 600 Austrians living in the United States. The topics discussed included dual citizenship, bilateral relations between the U.S. and Austria as well as the "Green Passport".
April 30, 2021
Vienna Stock Exchange: Introduction of 13 Asian Companies
The Vienna Stock Exchange has expanded its offering on the global market by three Chinese and ten Japanese stocks. This addition was made after recently recording a growing demand for Asian shares. Among the new companies offered are the technology group Fujifilm and the pharmaceutical company Takeda Pharmaceutical.
April 29, 2021
Dubai Expo: Which Austrian Companies Will Benefit from the Exhibition in the UAE?
Expo 2020 Dubai, which will take place in the United Arab Emirates from October 1, 2021 to March 31, 2022, is advertised above all as an opportunity for "Austrian companies to make a lasting impression with their innovative strength and creativity". The fact is that so far apparently only a handful of construction and design-related companies directly involved in the development of the Austrian pavilion financed by Austria are benefiting from the project. Which Austrian companies are involved in the project, you will find out in the following.
April 27, 2021
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