Latest Headlines about other Business & Economic Developments

Selmayr and Beste Meet to Discuss German EU Council Presidency

Ralf Beste, Germany's ambassador to Austria, and his fellow countryman Martin Selmayr, representative of the European Commission in Austria, met to discuss the year of 2020 and the German Presidency of the EU Council, which will be ending on December 31. Both politicians underlined the importance of the European Union in finding solutions for international problems.

December 29, 2020

Vienna's Air As Good As Never Before

Even without the lockdown, Vienna would have had a decent year with regard to air quality. Due to the city's investment into climate protective measures in the recent years, the pollution level has decreased and has lead to the best air quality since measurements began 50 years ago.

December 29, 2020

Austria Ranks Fifth in Share of Renewable Energy Sources

In a newly published report by the European statistics office Eurostat, Austria is one of the most environmental-friendly EU member countries with regard to energy sources. Austria ranks fifth in a statistics that gathers data about the share of renewable energy sources in the total gross energy consumption of a country.

December 21, 2020

Funding for Erasmus Program Is Increased

One of the European Union's most successful programs, the Erasmus+, will once again receive an increase of funding. In 2019 alone, the program supported almost 1 million learning stays abroad and provided funding for more than 100,000 organizations and about 25,000 projects.

December 16, 2020

European Innovation Council Funds Austrian Projects

Two projects with Austrian-based research are involved in a new funding project of the EU's European Innovation Council. A total amount of EUR 74 million is distributed among 18 projects that research in cutting-edge technologies. Additionally to the funding, coaching and business development supported is provided by the Council.

December 14, 2020

New European Climate Target: Kurz and Gewessler Delilghted

The European Council has agreed on a new climate target for 2030. The member states want to decrease annual greenhouse gas emissions by at least 55 percent and also take other steps on their path to climate neutrality until 2050. Austria's Chancellor Kurz and Minister Gewessler are pleased with the agreement.

December 11, 2020

WKO and IV: Need for "Climate Protection with Common Sense"

The heads of the Austrian Federal Chamber of Commerce (WKO) and the Federation of Austrian Industries (IV) demand appropriate framework conditions for climate-friendly behavior instead of the race for ever higher climate targets. Both Secretary Generals want "climate protection with common sense".

December 10, 2020

International Visitor Leadership Program Celebrates 80th Anniversary

The International Visitor Leadership Program (IVLP), U.S. Department of State’s premier professional exchange program, celebrates its 80th anniversary. The program has opened doors for more than 225,000 participants from all over the globe and has connected current and emerging leaders to US culture and society.

December 9, 2020

EU Ministers Issue Declaration on "Digital Government"

The EU Ministers responsible for Digitalization have agreed on a joint declaration that focuses on digital society and value-based digital government. Austria's Minister Schramböck sees Austria already on the right track with its various e-government tools and is delighted about the European plans.

December 9, 2020

Schramböck: Deepening Digitalization in the EU

The EU member states aim to create synergies between national research and investment initiatives and to ensure a coherent European approach with sufficient scope. Joint Support for European electronics value chains will try to establish leading capabilities in various digital competencies.

December 7, 2020

Eurostat: Austria Is Second in EU With Research Expenditures

In its recent publication, the statistical office of the European Union, Eurostat, put Austria on second place for research expenditure relative to GDP. Austria has invested 3.19 percent of its gross domestic product in R&D, which is only surpassed by Sweden with 3.39 percent of the country's GDP.

November 27, 2020

Austria's Top Managers Launch Economy4Future Initiative

Some of Austria's top managers have launched the economy4future initiative, which focuses on the fight against climate change. The campaign wants to promote dialogue between big companies and young people in order to better shape the economic future in harmony with the resources of the planet.

November 26, 2020

WKO: Thoughts About Opening Stores on Sundays

The President of the Austrian Federal Chamber of Commerce (WKO) has expressed his thoughts about a possible opening of stores on Sundays before Christmas. This would create the opportunity for companies to equalize customer flows which they have missed out on during the ongoing lockdown.

November 24, 2020

First Austrian Swedish Innovation Exchange Day

The Austrian and Swedish government have decided to hold their first ever Austrian Swedish Innovation Exchange Day, which will try to kick-off a lasting bilateral relationship with regard to innovation, business and industry. The event will be attended by Austrian and Swedish politicians as well as representatives of the economic sector.

November 23, 2020

International Mobility Days 2020 Held Virtually

The International Mobility Days of the Austrian Federal Chamber of Commerce are held virtually. The mobility industry is one of the fastest evolving industries and the future of transportation, especially in growing cities, is a topic that has been dominating international entrepreneurial acton for years.

November 19, 2020

European Vocational Skills Week: Focus on Green and Digital Transition

The European Vocational Skills Week focuses on vocational education and training for environmental and digital change. Numerous online events from 38 countries can be attended to further knowledge and careers. Especially in times of economic and social hardship, obtaining new skills might provide decent recovery.

November 10, 2020

Second Coronavirus Lockdown: Which Rules Apply for your Business in Austria?

The exponential increase of the Austrian COVID-19 infection numbers has made drastic measures necessary. On November 3, 2020, the new COVID-19 Protection Measures Ordinance will come into force and remain in force until at least November 30, 2020. In order to cushion the economic impact, short-time working will be upgraded and loss of sales compensated. The new rules and economic measures for the gastronomy, tour operator, tourism and leisure industry can be found below.

November 2, 2020 · Updated: November 6, 2020; 10:13

World Statistics Day 2020: New Economic Monitor Shows Austria's Economic Development

Statistics Austria has introduced a new economic monitor which shows Austria's economic development over time. Data is updated biweekly and will include more than 80 economic indicators across different sectors and industries. In addition to this monitor, Statistics Austria provides a Covid-19 data collection which focuses also on population, health and education.

October 19, 2020

Digital Days 2020 Reached Over 1,100 Registered Users

The Digital Days 2020 hosted by the City of Vienna as a hybrid event have welcomed over 1,100 users with more than 4,000 views in total. Digitalization in every business sector was discussed among politicians and experts from the business world.

October 5, 2020

UNIDO Partners Up With Women Leadership Forum to Hold Special Event

UNIDO and the European Brand Institute have organized the 8th Women Leadership Forum, which was held as a hybrid event in Vienna. International successful women as well as other supportive public figures have gathered together to empower women.

October 1, 2020

Austrian Economy Slumped by 12.1% in Q2 2020

The newly published report by Statistics Austria shows a massive economic slump in the second quarter of 2020. Austria's GDP declined by more than 12 percent compared to the second quarter of 2019 while expectations for the last two quarters of the year are not much better.

September 28, 2020

Vienna Aims for Champions League of International Start-Up Scene

The start-up event ViennaUP'21 will be at the center of the international start-up scene in the spring of 2021. Many well-known formats have already assured their participation and will move the spotlight to Vienna from April 27 to May 12 2021.

September 21, 2020

First Digital Long Night of Research

Like many other events in 2020, the Long Night of Research will be held virtually this year. Although the live experiences will be missed, the digital format offers a variety of other advantages to the interested public.

September 18, 2020

Sacher Hotels Lay Off 140 Employees

The dramatic situation in Austria's tourism industry does not even spare one of the most prestigious hotels in Europe. The Sacher Hotels, located in Vienna and Salzburg, have announced the dismissal of 140 employees.

September 15, 2020

2,300 Potential Job Losses in Steyr

The German truck and bus subsidiary MAN announced that 9,500 jobs are in danger due to reorganization of the company. 2,300 and therefore the total workforce of the production site in Steyr, Austria might be included in the cut.

September 11, 2020

Austrian Technology Company Kapsch Will Cut Around 400 Jobs

Vienna-based company Kapsch is likely to cut about 400 jobs globally in the near future. The company has commenced a transformation program that will allow it to be successful in the future.

September 3, 2020

Another COVID Casualty: Austrian Airline Discontinues Flight Operations

The Austrian low-cost airline "Level" and subsidiary of British Airways (IAG International Airlines Group) has discontinued flight operations with immediate effect. The airline was hit hard economically by the consequences of the Covid 19 pandemic in Europe. A continuation of flight operations is not planned. About 200 employees in Vienna are affected by the bankruptcy.

June 19, 2020

Austrian Airlines Deal: EUR 450 Million for Vienna Hub Guarantee

The Lufthansa subsidiary will receive EUR 450 million from the Republic of Austria, EUR 300 million of which as a loan guarantee and EUR 150 million as equity.

June 9, 2020

Deal: Bail-out for Austrian Airlines

According to media reports, AUA Austrian Airlines is to receive a total of EUR 600 million and thus retain its Austrian headquarters.

June 8, 2020

Investing in Vienna: All-time High for the Settlement of International Companies

In 2019, the City of Vienna in cooperation with the Austrian Business Agency (ABA) was able for the eighth time in a row to set a new settlement record with 266 international companies settling in the city. With 25 companies settling in Vienna, the USA came second in the list of the ten most important countries of origin, behind Germany with 61 projects.

June 2, 2020

Ryanair's Laudamotion to Close Vienna Base

Laudamotion closes its base in Vienna on 29 May, 300 people lose their jobs. The trade union Vida did not agree to an ultimatum by the airline, which would have brought a new collective agreement with significantly lower wages.

May 22, 2020

Drastic Drop of over 99% in Passengers at Vienna International Airport

The worldwide travel restrictions and flight cancellations resulting from Covid-19 have had a major impact on the development of traffic and earnings AT Vienna International Airport (Flughafen Wien Group). In April, the Group recorded a decline of 99.6% in the number of passengers and 99.5% at Vienna International Airport. Revenues for Q1/2020 fell by -9.0% to € 161.4 million.

May 20, 2020

Corona Short-time Work in Austria: Funds to be Increased to 12 Billion

Minister of Finance Gernot Blümel announced that the budget for coronavirus short-time work will be increased from ten billion to twelve billion euros.

May 19, 2020

War for Global Telecom Infrastructure Supremacy: Vienna first EU Capital with Area-wide 5G Network

While the Third World War is raging backstage between the USA and China for world supremacy in 5G infrastructure, Huawei wins another milestone in Vienna. Digital City Councilor Peter Hanke has set the goal "Vienna should become the first city in Europe with a complete 5G network". The city is supporting the network expansion with 20 million euros.

May 18, 2020

Tax Consultants and Auditors: Corona Aid Fund for Fee Losses Threatening their Existence

The Austrian Chamber of Tax Consultants and Auditors (KSW), which represents 8,000 Austrian tax consultants and auditors, is setting up a 2 million euro aid package.

May 12, 2020

Hotel Sacher Vienna: New Director is a German Again

Reiner Heilmann, the long-standing director of the Hotel Sacher in Vienna, hands over the management of the hotel to 35-year-old hotel manager Andreas Keese.

May 12, 2020

Self-Sufficiency in COVID-19 Mask Production

A first step towards Austrian self-sufficiency in mask production for medical protective equipment was taken. In future, it should be possible to produce up to 500,000 corona protective masks of the "Made in Austria" brand every day.

April 8, 2020

Federal Chancellor: "The situation is still serious"

Austrian government presents details of the aid package designed to save jobs and businesses.

March 26, 2020

Voestalpine: Short-time Work in 50 European Subsidiaries

The biggest economic challenge of the past decade represented by the coronavirus pandemic has hit the Austrian technology group Voestalpine hard. Short-time work in Austria and other European countries such as Germany, Belgium and France is unavoidable due to the slump in demand.

March 24, 2020

Budget Statement: Do What Is Necessary

Finance Minister Blümel: "No one knows how long this crisis will last. No one knows what effects it will have. But we do know that we will do everything we can to maintain the health of Austrians, to secure jobs and to carry the location through the crisis. Whatever the cost."

March 20, 2020

Austrian Government Says It is Prepared to Pump Virtually Unlimited Money into Economy

The Federal Government announced today that an aid package of up to 38 billion euros is being prepared to deal with the consequences of the coronavirus.

March 18, 2020

Coronavirus Prohibitions in Austria - Which Shops and Services are still Open?

Many people are confused due to the short-term decision to prohibit access to the customer area of business premises of retail and service companies as well as leisure and sports businesses, and wonder which essential items and services of daily life are still available. Below is a current list in force since Monday, 16 March 2020.

March 17, 2020

Coronavirus Crisis in Austria: Four Billion Euro Package for the Economy

The Austrian government today cancelled the budgetary "zero deficit" for 2020 and announced the provision of four billion euros for immediate measures.

March 14, 2020

Vienna Stock Exchange: Mayr-Melnhof and BAWAG on the Rise

BAWAG Bank, Austria's fourth-largest bank in terms of total assets, rises to become the fifth-largest listed company on the Vienna Stock Exchange. The cartonboard producer Mayr-Melnhof replaces FACC in the ATX.

March 4, 2020

Gambling: CEO Neumann Abruptly Left Novomatic

The Group has been in the limelight for a year because of a corruption scandal. Official reasons for the departure are "family reasons", but various media are reporting disagreements with Johann Graf, sole shareholder of the two parent companies Novo Invest GmbH (Austria) and NOVO Swiss AG (Switzerland). Ryszard Presch and Johannes Gratzl are jointly taking over his task.

March 2, 2020

Business with China Slumps: Chamber of Commerce Sets Up Coronavirus Hotline

Because of the coronavirus crisis, the Austrian Federal Economic Chamber (WKO) is now also reacting and setting up an auxiliary hotline for the approximately 1,000 affected companies in the Austrian-Chinese trade.

February 23, 2020

Coronavirus: Infopoint for Affected Companies

The Austrian Federal Economic Chamber has set up a central contact point in Vienna for companies that have requests in connection with the coronavirus. The "Coronavirus Infopoint" brings together all information from Austria and abroad on this topic.

February 19, 2020

US Secretary of Commerce Wilbur Ross in Vienna

The 82-year-old United States Secretary of Commerce Wilbur Ross, who has been in office since February 28, 2017 and was nominated by Donald Trump, visited Vienna and met, among others, US Ambassador Trevor Traina, WKO President Mahrer, Finance Minister Blümel, Environment Minister Gewessler and Economics Minister Schramböck.

February 11, 2020

Digital Tax: Google Charges Customers

The search engine operator Google wants to collect the new digital tax, which has been levied in Austria since January on income from online advertising by international corporations, in its entirety from its advertising customers.

January 31, 2020

Russian Embassy: Economic Networking Russia and Austria

In order to promote economic relations between the two countries, Ambassador Dmitrij Ljubinskij invited about 160 members of the Wirtschaftsforum der Führungskräfte (WdF) to the Russian Embassy in Vienna (Nassaupalais - Palais Simon Vienna).

January 31, 2020