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Read the latest headlines about developments in other industries in Vienna and Austria
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
Largest Insolvency in Styria: Fisker GmbH and its Effects
The insolvency of the Austrian Fisker subsidiary has far-reaching consequences for the Styrian economy. With a mountain of debt of almost four billion euros, it is the largest corporate bankruptcy of the year.
August 8, 2024
AIRPOWER24: Europe's Largest Airshow Takes Off in Zeltweg
On September 6 and 7, 2024, AIRPOWER24, Europe's largest airshow, will take place at Hinterstoisser Air Base in Zeltweg, Styria. The event is accompanied by an extensive program and offers numerous highlights for aviation enthusiasts of all ages.
August 4, 2024
Swiss Novartis Opens Fastest Cell Culture Facility in Tyrol
Novartis opened a state-of-the-art cell culture facility for the production of monoclonal antibodies in Schaftenau, Tyrol.
June 24, 2024
Vienna Conference Ended with Call for Regulation of Autonomous Weapons Systems
The call for stricter rules for autonomous weapons systems is growing louder, especially after the first international conference on this topic, which took place in Vienna from April 29 to 30, 2024. Alexander Schallenberg, the Austrian Foreign Minister, emphasized the urgency of establishing clear international rules for the use of autonomous weapons.
May 6, 2024
Austrian Technology at the Center of Gigantic Construction Projects in Dubai
The Austrian company Doka is continuing its international success story and will once again demonstrate its expertise in high-rise construction. The planned Azizi Tower in Dubai, which is to be completed within the next four years, aims to become the second tallest building in the world.
March 5, 2024
Austria's Army is Gearing Up: Large-Scale Investment in Wheeled Tanks, Helicopters and Aircraft
The Austrian Armed Forces is facing a significant expansion of its vehicle fleet and aircraft fleet. The Ministry of Defense under department head Klaudia Tanner had already planned and made several new purchases since 2021.
February 13, 2024
Obituary of Gaston Glock: Austria's Most Famous Gunmaker
Renowned entrepreneur and engineer Gaston Glock, founder of the world-renowned gun company Glock, has passed away at the age of 94. Glock, who founded the company in 1963 in Deutsch-Wagram in Lower Austria, revolutionized the industry with his gun production and established his brand globally.
December 28, 2023
OMV's Borealis to Merge with Borouge in a 30 Billion Euro Deal
OMV's subsidiary Borealis is set to merge with the Abu Dhabi-based petrochemical company Borouge, creating a new global heavyweight in the chemical and plastic sector with an estimated value of 30 billion euros. This significant move marks a transformative step in the ongoing value creation and chemical growth strategy of both companies.
December 14, 2023
Energy Transition and Sustainability: French Visit to the AMAG Aluminum Plant in Upper Austria
The French Ambassador to Austria, Gilles Pécout, visited the AMAG aluminum factory in Upper Austria. He was accompanied by the Honorary Consul Mr. Redlhammer and Mr. Chaumont from the Economic Service. During this visit, they were received by the Managing Director of AMAG, Gerald Mayer, and the company spokesman, Leopold Pöcksteiner. The meeting provided an opportunity to shed light on the company's operational activities, strengths, and challenges.
November 17, 2023
Austria Backs Microelectronics: Three billion Euros Investment and AT&S Lighthouse Project
The Austrian government has made a firm commitment to support the microelectronics industry with three billion euros of investment over the coming years. These bold investments will help to promote the research and development of semiconductor companies in Austria and strengthen the foundations for digitalization, green energy transition, and sustainable growth.
November 2, 2023
APG Invests Nine Billion Euros in Austria's Electricity Grid
Austrian Power Grid (APG) has unveiled an ambitious €9 billion investment program designed to lay the foundation for a supply-secure energy transition in Austria. The company, a subsidiary of Verbund AG, thus plays a central role in the transformation of the Austrian energy supply system.
October 24, 2023
Japanese Takeda Lays Foundation Stone for "Laboratory of the Future" in Vienna's Urban Lakeside Aspern
In a symbolic act, the foundation stone was laid for Takeda's "Laboratory of the Future" in Vienna's Seestadt Aspern. With an investment of around 120 million euros, the Japanese pharmaceutical giant represents the company's largest investment to date in Austria in a technically and ecologically optimized new building for biopharmaceutical research and development.
September 22, 2023
Austrian Army Modernizes its Tank Fleet in Germany
In the presence of the Minister of Defense, Klaudia Tanner the first "Leopard" main battle tank from Wels was handed over to the European armaments company Krauss-Maffei Wegmann and Nexter Defence Systems (KNDS). The aim of this initiative is to modernize the tank so that it meets current technological and military requirements.
September 11, 2023
Plants as Climate-Friendly Air Conditioning: City of Vienna Promotes Greening of Buildings
The positive effect of green buildings on the climate is undisputed. To promote the implementation of green buildings, the City of Vienna provides generous subsidies of up to € 20,200. Interested parties can obtain free advice on this subject from Eco Counselling (DIE UMWELTBERATUNG) in Vienna.
July 23, 2023
State Secretary Tursky Emphasizes Goal of European Chip Sovereignty at Austrian Company AT&S
During his visit to Leoben, Florian Tursky, the State Secretary for Digitization and Telecommunications at the Ministry of Finance, was given an insight into the new research and production center of the global high-tech group AT&S, which is currently being realized at the company's headquarters.
July 19, 2023
Exploring Vienna's Sustainable Solutions: Unusual Excursion Tips by MA 48
Waste prevention and waste separation as well as a clean city are among the central goals and concerns of street cleaning in Vienna (MA 48). MA 48 invites all interested parties to visit its facilities free of charge.
July 18, 2023
OMV's Polyolefins Business Cooperation: Concerns Raised as Greens Question Borealis' Future
Austrian energy company OMV has decided to pursue negotiations with ADNOC, the state-owned oil company of the United Arab Emirates, on potential cooperation of their polyolefins business. This reinforces certain concerns of the critical voices on the OMV-ADNOC deal.
July 16, 2023
Austria Establishes a National Task Force to Combat Environmental Crime
The ministers of agriculture, justice, finance, social affairs, environment, and interior established an interagency task force on April 12, 2023.
April 12, 2023
Ministers of German Speaking Countries in Vienna
The economic ministers of the German-speaking countries, namely from Germany, Switzerland, Austria, and Liechtenstein met in Vienna to discuss several economic measures from the past and for the future.
February 13, 2023
Schallenberg Warns About Nuclear Weapons on the Anniversary of the TPNW
On the second anniversary of the Treaty on the Prohibition of Nuclear Weapons (TPNW), Austrian Foreign Minister Alexander Schallenberg gave strong warnings about the threats and use of nuclear weapons.
January 22, 2023
What are the Seibersdorf Laboratories?
Nuclear technologies and applications should be safely researched under international supervision. In Seibersdorf, Austria, the International Atomic Energy Agency maintains eight nuclear applications laboratories. Read on to find out more about the Seibersdorf Laboratories!
November 17, 2022
ICARST 2022: Applying Radiation Science and Technology in Everyday Life
The International Conference on Radiation Science and Technology (ICARST) organized by the IAEA will be held this week in Vienna. Determining the presence of microplastics in environmental samples, removing pesticides from agricultural soil and studying how to grow tomatoes in outer space are all possible thanks to radiation techniques and will be discussed.
August 22, 2022
Why Germany and Austria Are More Dependent on China for Strategic Raw Materials than on Russian Gas
China has established global dominance over many of the strategic raw materials needed to be competitive in the economy of the future. Read how Austria, Germany, and others have arguably become more dependent on these materials from China than on Russian gas.
July 5, 2022
Trip to Israel: Market Exploratory Mission to Promote Austrian-Israeli Economic Relations
The Israeli-Austrian economic partnership is becoming increasingly important. Now Foreign Minister Schallenberg and Economics Minister Schramböck visited the Israeli state to intensify economic relations and to attend the opening of a major infrastructure project with Austrian participation.
March 31, 2022
OMV Subsidiary Borealis Declines Offer from Russia’s EuroChem for Fertilizer Business
The planned sale of the Linz-based fertilizer division of OMV chemicals subsidiary Borealis to Russian-Swiss group EuroChem has been canceled. According to a press release, Borealis has decided to reject EuroChem's offer.
March 14, 2022
Sony DADC Austria AG Tightens Production Program
The decline in the production program of optical storage media (CDs and DVDs) forces Sony DADC Austria to terminate and redeploy towards BioSciences and digital services.
February 22, 2022
Ukraine Crisis: Potential Impact of Russian Invasion on Ukrainian, Russian and EU Economies
The solution of the Russian aggression and violation of rights towards Ukraine, is of central importance for the world we want to live in. The Vienna Institute for International Economic Studies (WIIW) conducted a study on the potential economic impacts of a Russian invasion of Ukraine. Read their prediction for how an invasion would affect the economies of the EU, Russia, and Ukraine.
February 8, 2022 · Updated: February 11, 2022; 08:35
Austrian Foreign Trade Picks Up Again
Austria's foreign trade in 2021 has improved significantly compared to 2020, and in some months, it is even approaching the pre-pandemic levels of 2019. Read the detailed numbers showing that Austrian trade is picking up again.
November 11, 2021
Doing Business with the United Arab Emirates: World Expo 2020 Opens in Dubai
The World Expo 2020, which kept its name despite being delayed to 2021, is set to begin in Dubai on 1 October. The United Arab Emirates (UAE) has been a particularly sought-after market for many Austrian companies. Read about the upcoming Expo, the economic relationship between Austria and the UAE, and some of the many Austrian companies that have found success there.
September 23, 2021
Vietnamese Business Delegation in Vienna
The Chairman of the Vietnamese National Assembly, Vuong Dinh Hue, and a high-ranking business delegation recently attended a business forum in Vienna with the Austrian Chamber of Commerce (WKÖ) Vice-President Richard Schenz. The forum included discussions about the dynamic Vietnamese economy and why it is an ideal location for Austrian companies and investors to diversify in Asia.
September 22, 2021
Austrian University Spin-offs at the World Expo in Dubai
The World Expo 2020, which retained its name despite being postponed to 2021, will begin in October in Dubai. Various Austrian university spin-offs will present their innovations that will have positive impacts on climate-conscious behavior. These spin-offs include GREENPASS, REEgain, WoodC.A.R., City Intelligence Lab (CIL), Mostly AI's Mostly GENERATE, and Incremental3D's myPot. Read more about Austria's contribution to the upcoming World Expo and what innovations these spin-offs will be presenting.
September 8, 2021 · Updated: September 8, 2021; 16:16
ÖBAG: Attorney Edith Hlawati to Succeed Thomas Schmid
The Supervisory Board of Österreichische Beteiligungs AG (ÖBAG) has appointed the internationally recognized business lawyer Dr. Edith Hlawati as the new Chief Executive Officer of ÖBAG. She will succeed Thomas Schmid and take over the management of the state holding on 1 February 2022. Learn more about her and the selection process.
August 30, 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
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
China and Austria: Extension of Climate Neutrality Research Agreement
On the occasion of the 50th anniversary of diplomatic relations between China and Austria, the Chinese Minister of Science and Technology Wang Zhigang and Austria's Climate Protection Minister Gewessler extend the agreement for cooperation in research and technology in the field of climate neutrality.
June 1, 2021
Vienna Stock Exchange: EVN Replaces Telekom Austria in ATX
The semi-annual review of the Austrian leading index ATX has shown a change in the composition. EVN AG will replace Telekom Austria AG. Furthermore, voestalpine AG is included in the ATX five, which comprises the five largest listed companies, instead of Raiffeisen Bank International AG.
March 3, 2021
European Battery Initiative Launches With Austrian Participation
The European Commission has approved a EUR 11.9 billion large-scale battery project. Austria will play a decisive role in this initiative having involved six companies. The aim of the project is to create a competitive, innovative and sustainable value chain for batteries and thus working towards achieving the European Green Deal.
January 28, 2021
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
Increase of Budget for Investment Subsidies to EUR 2 Billion
The Austrian Government has announced a budget increase for investment subsidies. A high demand and investment volume in the first three weeks of the application period has lead to this decision that is welcomed by the Federal Chamber of Commerce.
September 23, 2020
Foreign Trade Has Partially Recovered from Crisis
According to the latest report from Statistics Austria, imports and exports are only slightly behind last year's number indicating an upwards trend after Covid-19 has impacted foreign trade significantly.
September 8, 2020
WKO Secretary General: Labor Market Situation Improves, But Remains Great Challenge
The secretary general of Austria's Federal Chamber of Commerce WKO recognizes a slightly positive trend in the labor market but underlines the importance of ongoing and future economic measures.
September 7, 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
Economic Sentiment in Austria and the EU Brightened Further in August
Businesses and the population of the EU still have below-average economic sentiment although the expectations improved over the last month. The sharp decline due to Covid-19 is made up by about 60 % already.
August 31, 2020
Vienna Based UNIDO Holds Expert Panel to Discuss Developments in Industry and Society
The United Nations Industrial Development Organization hosted an expert panel about the future of industry and society. Main topics were the advancement of attaining the sustainable development goals and shaping society as a whole.
August 21, 2020
Austria on the Advance of Early COVID-19 Detection in Sewage
In Austria a research group is analysing sewage in order to find genetic material from the Coronavirus. The data can be used for a regional early warning system and the identification of new clusters.
August 20, 2020
Austria Becomes Self-sufficient in the Supply of Mouth and Nose Masks
Hygiene Austria LP GmbH, founded only 4 weeks ago by a cooperation of Lenzing AG and Palmers Textil AG with the aim of producing and selling protective masks for the domestic and European market, was made known to a wider public today by the visit of Federal Chancellor Kurz and Minister of Labour Christine Aschbacher, and two weeks ago by the visit of Federal Minister Margarete Schramböck.
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
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