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Read the latest headlines about developments in other industries in Vienna and Austria
New Economics Minister Hattmannsdorfer Against the Deindustrialization of Austria and Europe
Dr. Wolfgang Hattmannsdorfer (ÖVP) sent out a signal for the importance of industry in Austria with his first official company visit as Minister of Economic Affairs. The trip took him to his hometown of Linz to voestalpine, where he emphasized that the business location is facing decisive challenges. The new minister assured that “the stop button for industrial migration” would be pressed with the new government program.
March 5, 2025
Richard Cockett on Vienna as the Center of the “Scientific Worldview” - A Legacy in Danger?
Vienna was once a center of groundbreaking ideas. In his lecture at ISTA, Dr. Richard Cockett, historian, and economist-journalist, sheds light on how the city shaped science, philosophy, and art - and why its legacy is more important than ever today.
March 4, 2025
New General Manager at Park Hyatt Vienna: Bastian Baumann Takes Over the Luxury Hotel
The renowned Park Hyatt Vienna will have a new General Manager from the beginning of 2025: Styrian-born Bastian Baumann will take over the management of the luxury hotel, bringing with him an impressive international career. After several positions in the Middle East, Asia, and Europe, he is now returning to Austria to lead the Hotel am Hof into the future with fresh ideas and a clear focus on the highest quality of service.
March 3, 2025
Rise in Corporate Insolvencies in Austria Reaches New High
The tense economic situation led to a significant increase in corporate insolvencies in Austria in 2024. According to the latest data from Creditreform, around 6,700 company bankruptcies were recorded, an increase of 22% compared to the previous year.
February 24, 2025
Austria Strengthens Commitment to IAEA in Tackling Nuclear Security Challenges
Austrian Chancellor and Foreign Minister Alexander Schallenberg met with Rafael Grossi, Director General of the International Atomic Energy Agency (IAEA), to discuss pressing global nuclear issues. Their talks covered Iran’s nuclear program, security risks in Ukraine, and the IAEA’s role in international disarmament efforts.
February 23, 2025
Austria’s Researchers Stand out in Innovation and Commercialization of Scientific Discoveries
Austria's research community continues to stand out in Europe, excelling not only in fundamental scientific discoveries but also in successfully bringing innovations to market. A recent analysis by the European Research Council (ERC) highlights the ability of Austrian scientists to commercialize their patented inventions, often through licensing agreements or the establishment of startups.
February 23, 2025
Increase in Naturalizations in Austria in 2024
In 2024, Austria recorded a notable rise in naturalizations, with 21,891 individuals acquiring citizenship. This represents an increase of 9.8% compared to the previous year, reversing the decline observed in 2023.
February 19, 2025
Strengthening Cultural Education: New Collaborations Between Schools and Cultural Institutions
Cultural education plays a crucial role in shaping young minds, fostering creativity, and encouraging new ways of thinking. In Austria, the "culture connected" initiative is helping to bridge the gap between schools and the arts by supporting innovative collaborations between educational institutions and cultural organizations.
February 18, 2025
Deadly Knife Attack in Villach: 14-Year-Old Killed, Five Injured
A shocking knife attack in Villach, Austria, has left a 14-year-old boy dead and five others injured. The attack, which occurred on the afternoon of February 15, was carried out by a 23-year-old Syrian man who, according to authorities, may have been radicalized through online platforms.
February 17, 2025
Austrian Customs Rescued Numerous Dogs and Cats from Smugglers
In 2024, Austrian customs officials rescued 138 dogs and cats from smugglers, marking a record high compared to previous years. The majority of these animals, often very young puppies and kittens, were discovered in poor conditions during routine border checks.
February 16, 2025
Equal Pay Day 2025: Highlighting the Ongoing Gender Pay Gap
Equal Pay Day is a significant reminder of the persistent income disparity between men and women. This symbolic day marks the point in the year until which women have effectively worked "for free" compared to their male counterparts, based on the gender pay gap.
February 13, 2025
Surge in Demand for Houses as Prices Decline Across Austrian Regions
Austria’s real estate market underwent a dynamic transformation in 2024, marked by a significant surge in the demand for single-family homes alongside fluctuating property prices across the country. While potential homeowners increasingly entered the market, drawn by improved financing conditions and relaxed credit regulations, regional price trends revealed a complex picture.
February 12, 2025
Steyr Arms Pushes Expansion - Austria as a Location in Danger?
The Austrian arms manufacturer Steyr Arms, part of the Czech investment group RSBC since 2024, is planning extensive expansion in the US and European markets. At the same time, the site in Austria is coming under pressure as export licenses are being delayed. While the company management wants to secure the future of the traditional business with new strategic decisions, a relocation could be considered.
February 11, 2025
Austria’s Population Approaches 9.2 Million, Growth Slows in 2024
Austria's population continues to grow, but at a noticeably slower pace than in recent years. While Vienna remains the primary driver of population growth, with the highest increase among all federal states, other regions like Burgenland experienced slight declines. The data also reveals a growing proportion of foreign nationals, now accounting for over 20% of Austria’s population.
February 11, 2025
Increase in Business Insolvencies in Austria Amid Economic Challenges
Austria's business landscape saw a challenging year in 2024, with a significant increase in corporate insolvencies driven by economic factors such as rising inflation, recession, and the end of pandemic-related support. While businesses struggled, a notable rise in new company formations offered a mixed picture.
February 9, 2025
Scientists Warn Against Potential FPÖ-Led Government
Fearing for the country's democratic foundations and the integrity of its research institutions, leading scientists and scholars have united their voices in an open letter against a potential FPÖ-led Government. Their message is clear: the future of Austria’s liberal democracy, human rights, and academic freedom hangs in the balance.
February 6, 2025
Labor Market in Austria 2024: Number of Vacancies Significantly Decreased
The Austrian labor market is facing an apparent contradiction: while companies are complaining about an acute shortage of skilled workers, vacancies fell significantly in 2024. Rising unemployment figures meet unfilled positions, and many industries are struggling with economic uncertainties. What is behind this development?
February 6, 2025
Austria Commemorates the 80th Anniversary of Auschwitz Liberation
January 27, 2025, marked the 80th anniversary of the liberation of Auschwitz-Birkenau, the largest Nazi concentration and extermination camp. This milestone was being observed with solemn ceremonies in Austria and at the historic site in Poland, where world leaders, Holocaust survivors, and dignitaries gathered to honor the victims and reinforce the commitment to remembrance.
February 5, 2025
Vienna Hosted European Cities Conference on Democracy
Two-day summit fosters exchange on citizen participation and democratic innovation. The event served as a platform for exchanging ideas, sharing best practices, and forging new alliances.
February 3, 2025
Rene Benko Arrested: From “Wunderwuzzi” to the Protagonist of a Billion-Dollar Scandal
Rene Benko, once a celebrated real estate entrepreneur and founder of the Signa Group, was arrested at his villa in Innsbruck. The Public Prosecutor's Office for Economic Affairs and Corruption (WKStA) in Vienna justified the arrest warrant because of the risk of concealment and the commission of a crime. Benko is suspected of concealing assets and manipulating evidence. His arrest marks the climax of one of the biggest business scandals in Austrian history.
January 24, 2025
EU Stops Erasmus Funding for Modul University in Vienna
The EU Commission has decided to withdraw funding from the Erasmus exchange program at Modul Private University in Vienna. The reason for this is the ownership structure of the university: 90 percent of it is owned by a Hungarian foundation, which is subordinate to the Mathias Corvinus Collegium (MCC) think tank. This is seen as a cadre factory of the Hungarian government under Viktor Orbán.
January 23, 2025
Racetrack Magna Racino: A New Owner and an Uncertain Future
The Magna Racino in Ebreichsdorf (Baden district) has once again changed ownership. As confirmed by the town's mayor, Wolfgang Kocevar (SPÖ) the horse racing track now belongs to Irish billionaire Luke Comer. Comer purchased the property from the Lürßen Group, which had owned it since 2020. While the purchase price and the new owner's plans remain undisclosed, the public and local authorities are eagerly awaiting further developments in the coming months.
January 16, 2025
Greens Launch Petition for the Preservation of the Climate Ticket
The Greens have today launched a petition to preserve the climate ticket in its current form. The background to this is speculation that a possible FPÖ-ÖVP coalition is planning to cancel or restrict the annual ticket for Austria's public transport system.
January 15, 2025
ECJ Ruling Censures Austrian Data Protection Authority: Excessive Complaints or Structural Problem?
A ruling by the European Court of Justice (ECJ) caused quite a stir: The Austrian Data Protection Authority (DSB) was reprimanded by the ECJ because it had rejected the processing of complaints as “excessive” due to their sheer number. The Court clarified that such a limitation of complaints is inadmissible as long as no abusive intention on the part of the complainant can be proven.
January 9, 2025
Signa Insolvency: Ex-managers to be Liable for One Billion Euros
Insolvency administrator Norbert Abel is stepping up the pace in the case surrounding the spectacular insolvency of Signa Prime Selection AG: 13 months after filing for insolvency at the end of November 2023, letters of liability were sent to former members of the company's Management Board and Supervisory Board shortly before the turn of the year.
January 9, 2025
Vienna's Club Scene Between Crisis and Innovation: Saving the Capital's Nightlife from Dying Clubs
Vienna's club scene is coming under increasing pressure: rising prices, new nightlife habits, and the densification of urban space are creating an uncertain future. At the same time, local players are focusing on creative approaches to preserve the diversity of nightlife culture and offer clubs a future. A detailed look at the current challenges and planned measures shows how fragile and at the same time adaptable Vienna's nightlife is.
January 7, 2025
Energy Partnership: Uniper Secures Natural Gas Supplies from OMV Petrom from 2027
According to insider information, the German energy group Uniper has concluded a long-term supply agreement with the Romanian OMV subsidiary OMV Petrom. From 2027, Uniper will purchase natural gas from Romania, extracted from the Neptun Deep project in the Black Sea. The agreement covers the supply of 15 terawatt hours of natural gas over five years. This corresponds to around 1.5 percent of total German gas imports in 2024.
January 7, 2025
UN General Assembly Adopts Cybercrime Convention: A Step for UNODC for International Security
In a unanimous decision, the United Nations General Assembly adopted the first international cybercrime convention. Hailed by many as a historic achievement, this convention marks the first UN agreement on crime-related issues in over 20 years. In an increasingly digitalized world, the new convention aims to strengthen international cooperation in the fight against cybercrime and shape a safer digital future.
January 2, 2025
Signa Development Selection and Signa Prime: Real Estate Giants on the Brink
The Supreme Court's (OGH) decision to reject the appeal on points of law by Signa Development Selection AG and a German investor has closed another chapter in the liquidation of René Benko's billion-euro real estate group. Previously, the restructuring plan for Signa Prime, another central company of the group, had already failed. The insolvency of the Signa Group represents one of the biggest economic crises in Austria's history.
December 30, 2024
Financial Fraud as a “Growth Industry”: Record Losses and New Scams According to the Austrian Financial Market Authority
The Financial Market Authority (FMA) is sounding the alarm: financial fraud has developed into a real “growth industry”. According to the authority's latest figures, the total loss reported by financial fraudsters in 2024 amounted to around 15.5 million euros - an increase compared to the previous year, when the figure was 12.8 million euros. The dramatic increase in crypto-based fraud cases is particularly worrying. According to the FMA, the majority of these fraud cases could indicate that illegal financial markets are increasingly attracting the attention of criminals.
December 23, 2024
Westbahn Expands Offer: New Overnight Connection from Vienna to Salzburg
With the timetable change on December 15, 2024, the Westbahn is introducing a significant innovation: a daily night connection from Vienna to Salzburg. This additional late-night connection is aimed in particular at commuters, night owls, and travelers who want to travel comfortably from Vienna to the West even late at night.
December 16, 2024
Further EU Infringement Proceedings Initiated Against Austria
The European Commission has initiated further infringement proceedings against Austria. The reason: is non-compliance with EU regulations on the recognition of professional qualifications. The Commission sees this as violating the rules intended to make it easier for freelancers and employees to work temporarily and occasionally in other Member States.
December 16, 2024
New Flight Connection Between Vienna and Chengdu Inaugurated
Hainan Airlines links Europe and Asia with a new direct flight route between Vienna and Chengdu. The opening of the route was attended by a prominent delegation, including Qi Mei, Ambassador of the People's Republic of China to Austria, Julian Jäger, CEO of Flughafen Wien AG, Meng Fanzhuang, Counselor of the Chinese Embassy, and Zhang Zhuo, General Manager Austria of Hainan Airlines. The event marks another milestone in the bilateral relations between Austria and China.
December 12, 2024
Jewish Museum Vienna Kicks Off Anniversary Year with Gala in New York
A special gala dinner was held in the elegant rooms of Christie's New York to mark the start of the 130th anniversary year of the Jewish Museum Vienna. This exclusive event brought together important personalities from the worlds of culture, business, and diplomacy and paid tribute to the historical significance of the world's first Jewish museum, which opened in Vienna in 1895.
December 3, 2024
KTM Facing Insolvency: Effects on Upper Austria and the Austrian Economy
The longstanding Austrian motorcycle manufacturer KTM is on the brink of collapse. The company filed applications for restructuring proceedings with self-administration with the Ried Regional Court. The company's financial difficulties are serious: with liabilities of over 1.8 billion euros, the KTM crisis is one of the biggest insolvencies in the history of Austrian industry.
December 2, 2024
Cultural Bridge between Austria and Japan: Schönbrunn Palace and Himeji Castle Enter Into Partnership
Two of the most important UNESCO World Heritage Sites in the world, Schönbrunn Palace in Vienna and Himeji Castle in Japan signed a partnership agreement. This cooperation aims to preserve cultural treasures, exchange knowledge, and promote sustainable tourism and cultural education. The signing ceremony took place in the magnificent White and Gold Rooms of Schönbrunn Palace and was attended by high-ranking representatives from both countries.
December 2, 2024
New Institute in Vienna with Conference on Artificial Intelligence and the Future of Society
The luxury hotel SO/Vienna opened its doors for an event on the technological future: “AI & The Future: The Age of Machines” by a new think tank in Vienna, the Vienna Institute for Global Studies.
November 28, 2024
Abuse of Office and Saudi Deal for Ex-Mayor in Upper Austria
A controversial case of abuse of office and improper acceptance of gifts has shaken a municipality in the district of Vöcklabruck, Upper Austria. A former mayor of the Austrian People's Party (ÖVP) stood before the regional court in Wels, as he is said to have accepted payments from a Saudi Arabian prince over decades to enable the rezoning of grassland into building land.
November 28, 2024
Viennese Sausage Stand Becomes UNESCO Cultural Heritage: A Tribute to the Viennese Way of Life
The Viennese sausage stand culture has been officially added to UNESCO's national list of Intangible Cultural Heritage. With this recognition, the sausage stand joins the prestigious list of Austrian traditions and is now on par with Vienna's coffee house and wine tavern culture. The decision underlines the cultural and social significance of this institution, which goes far beyond its culinary role.
November 27, 2024
Celebrities and Journalists from Austria, Europe and America Leave X
The once important platform Twitter, now known as X, is experiencing a massive decline in prominent users. While international personalities such as Stephen King or media outlets such as the British Guardian have announced their departure, the exodus is also becoming visible in Austria. Numerous opinion leaders and journalists have closed their accounts under the hashtag #eXit.
November 17, 2024
UNODC: Increase in Opium Cultivation in Afghanistan Despite Continued Drug Ban
According to a recent report by the United Nations Office on Drugs and Crime (UNODC) in Vienna, opium cultivation in Afghanistan increased by 19 percent in 2024 compared to the previous year. After an unprecedented decline of 95% in 2023, when the de facto authorities enforced a strict ban on cultivation, the area under cultivation has reached 12,800 hectares. Nevertheless, cultivation is still far below the figures for 2022, when 232,000 hectares were used for opium cultivation.
November 17, 2024
Moldova and the UAE Launch Space Technology Projects with UNOOSA and MBRSC
In a major international collaboration, the United Nations Office for Outer Space Affairs (UNOOSA) and the Mohammed Bin Rashid Space Centre (MBRSC) announced the winners of the second round of the Payload Hosting Initiative (PHI): the Technical University of Moldova (TUM) and the start-up Madari Space Limited from the United Arab Emirates (UAE).
October 29, 2024
ÖBB Increases Ticket Prices by 4.9 Percent
ÖBB announced that prices for standard tickets will increase by an average of 4.9 percent from December 15, 2024, in parallel with the winter timetable. This is the first price increase in 18 months. However, numerous tickets, including the popular Sparschiene tickets and seat reservations, will remain unaffected by the price adjustment.
October 17, 2024
Music Giants Rock the Cineplexx Cinemas: A Trend Excites Austria
Concert films and music biographies bring the biggest stars to the big screen, creating a very special cinematic experience. Among others, Coldplay's “Moon Music” and Whitney Houston's “Durban Concert” celebrated great success. These films not only offer high-resolution picture and sound quality but also allow fans to experience their favorite artists' concerts together without the inconvenience of a live event.
October 15, 2024
Vienna: The Best City Destination in Europe for Americans
Vienna has once again proven that it is undisputed as a world-class travel destination. Readers of the renowned luxury and lifestyle magazine “Condé Nast Traveler” voted the Austrian capital the best European travel destination in this year's “Readers' Choice Awards” 2024.
October 5, 2024
European Health Forum Gastein 2024: Health Policy in the Context of Democracy, Demography and Digitalization
The 27th European Health Forum Gastein (EHFG) is one of the most important health policy conferences in Europe. For four days, more than 1200 participants from science, civil society, industry and the public sector will meet to discuss current challenges in the field of health policy. The conference is dedicated to the complex interplay of the “3D” trends: democracy, demography and digitalization.
September 24, 2024
Glock Ecotech Delivers Green Energy to Japan to Promote Sustainability
The Austrian company Glock Ecotech has secured an important project in Japan. As part of a partnership with the Japanese company Eishin Co., Ltd., Glock Ecotech supplies 18 modern Glock CHP 50 thermal power plants to Tokamachi in Niigata Prefecture. This major project will start in the first half of 2025 and marks an important step in Japan's efforts to reduce fossil fuels and become climate-neutral.
September 24, 2024
Japan's Rohto Pharmaceutical Invests in Austrian Sigmapharm
In a move to enhance pharmaceutical production in Europe, Japan’s Rohto Pharmaceutical has entered into a strategic partnership with the Austrian Sigmapharm Group. The collaboration aims to expand the production and distribution of ophthalmic drugs and medical products across Europe, with Rohto Pharmaceutical investing nearly €30 million in research, development, production, and sales.
September 18, 2024
Voestalpine in the Midst of an Accounting Scandal and Weak Quarterly Results
Voestalpine AG, one of Europe's leading steel and technology groups, is currently facing a double crisis. In addition to a massive drop in profits in the first quarter of the business year 2024/25, the company is struggling with the consequences of an accounting scandal that spanned more than a decade and only became public in June 2024.
September 18, 2024
IAEA Holds 68th General Assembly in Vienna
The 68th General Assembly of the International Atomic Energy Agency (IAEA) in Vienna has begun, providing an important platform for exchanges between member states on nuclear safety, non-proliferation, and sustainable development. In addition to discussing global issues of nuclear safety and climate change, numerous heads of state and government are taking the opportunity to hold bilateral talks.
September 17, 2024
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