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Vienna International News - Other Professional Services
Read the latest headlines about international auditors, lawyers, tax acountants, consultants, architects, engineers, doctors, IT service providers, etc.
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Real Estate Prices in Austria Increased: Housing Increasingly Less Affordable
The cost of residential real estate in Austria has risen dramatically in recent years, significantly affecting affordability for many households. According to a recent analysis conducted by UniCredit Bank Austria, residential property prices in the euro area have risen faster than incomes. Austria has been particularly affected by this development, where property prices have actually fallen by almost 40 percent compared with incomes.
August 31, 2023
Vienna Stock Exchange: Focus on International Investors and Sustainability
The Vienna Stock Exchange continues its course of attracting international investors while promoting sustainable investment opportunities. A recently published study on the ownership structure of institutional free float in the ATX Prime, conducted every two years by S&P Global Market Intelligence (formerly IHS Markit) on behalf of the Vienna Stock Exchange, shows that international institutional investors continue to play a major role.
August 21, 2023
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Austria's Consumer Protection Ministry Mandates Action Against Banks for Low Interest Rates
According to the Consumer Protection Ministry, the practice of Austrian banks of charging high-interest rates on overdrafts while granting no interest at all on credit balances is meeting with growing resentment among consumers.
August 16, 2023
Controversy Surrounds Jan Marsalek's Letter in Wirecard Scandal Trial
In connection with the Wirecard scandal trial, a letter from Jan Marsalek, a former Wirecard board member, is causing controversy. Marsalek, who has been on the run for three years, contacted the Munich Regional Court in writing through his lawyer.
July 19, 2023
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Austria's Best Tax Consultants Were Awarded
The Institute for Investment Consulting (IFA AG) and the daily newspaper "Die Presse" presented the coveted "Tax Consultant of the Year" award to the best tax consultants in Austria. The festive award ceremony took place in the Sofiensälen in Vienna and was accompanied by Federal Minister of Finance Dr. Magnus Brunner as keynote speaker. More than 16,000 nominations demonstrate appreciation for both the industry and the award.
May 25, 2023
Vienna Stock Exchange Reports High Profits for Third-Year Running
Vienna's stock exchange, Wiener Börse AG, has announced high profits for the third year in a row, despite the turbulent economic environment of 2022. Vienna's stock exchange plans to continue its focus on consistent market modeling and alignment with international standards and is calling on the government to act to take advantage of the capital market's potential as a powerful lever.
May 10, 2023
Europe Minister Edtstadler Awards Outstanding Projects and Initiatives with the 2023 Europe State Prize
Austrian Europe Minister Karoline Edtsdadler awarded the winners of the 2023 Europe State Prize at the Sofiensäle in Vienna. More than 200 guestes were present at the Europe gala.
May 9, 2023
Vienna Expands German Learning Support for EU Expats
Are you a newly arrived EU citizen in Vienna and struggling to learn German? The good news is that the city of Vienna is expanding its language learning support program, the Wiener Sprachgutschein, to include EU citizens. This means that you will now have access to the same level of funding as non-EU citizens for German language courses.
May 8, 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
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EU Approves 2 Billion Euros in State Aid for Wien Energie
The European Commission has approved 2 Billion Euros in state aid for Austrian energy supplier Wien Energie. This was done to accelerate the energy transition and reduce fuel dependency in the context of the Russo-Ukrainian war, according to the EU Commission.
April 5, 2023
Patents Issued by Austria Reached Record Levels
In 2022, Austrian companies have filed more inventions with the European Patent Office than ever before. Semiconductors increased strongly.
March 29, 2023
Austrian Airlines Is Threatened With a Strike from its Personnel
In a work meeting on Tuesday, Austrian Airlines' (AUA) onboard staff rejected the proposed new collective agreement. There is now a deadline of April 6 for the negotiations to continue. A strike is imminent if no agreement is reached.
March 28, 2023
Unrestricted Access to the Austrian Labor Market for Displaced Ukrainians
Displaced Ukrainians in Austria will gain unrestricted access to the labor market, according to an amendment by the social committee in the National Council.
March 23, 2023
Minister Polaschek Has Awarded a State Prize for Promoting Alternatives to Animal Experiments.
Prof. Dr. Michael J. Ausserlechner, a professor at the Medical University of Innsbruck, receives the State Prize for Alternative Methods to Animal Experiments in 2022.
March 22, 2023
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OPEC Fund Approves New Financing to Fulfill its Climate Action Plan
The OPEC Fund for International Development (OFID) approved more than $300 million in new funding in the first quarter of 2023, reflecting the institution's commitment to fulfilling its Climate Action Plan. Three of the four projects approved by the OPEC Fund's Governing Board directly support climate finance.
March 15, 2023
Technology Start-ups from Israel and Vienna Meet at a Conference
The consulting and tech company weXelerate will organize a conference to bring together the technological fields of Israel and Vienna. The conference will expect mostly Jewish young professionals and give them a platform.
February 20, 2023
Markus Braun Denies Any Acknowledgment in the Wirecard Trial
The Austrian businessman Markus Braun is the main defendant in the whole Wirecard-Scandal. Now he testified for the first time in court. He denied any acknowledgment of alleged crime in the company, which contradicted the testimonials of key witness Oliver Bellenhaus.
February 13, 2023
EU Is Planning the Withdrawal From the Energy Charter Treaty
The European Union wants to exit from the Energy Charter Treaty since the contract is not compatible with the energy transition. Austria is examining its exit from the treaty since November.
February 9, 2023
Education Minister Polaschek Visited Sweden
Education Minister Martin Polaschek emphasized the importance of science on his visit to Sweden. He especially praised Swedish society for having such a high trust in science and is seeking some Swedish strategies to take them to Austria.
February 7, 2023
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Austrian Raiffeisen Bank International Gets Under Pressure Due to Russo-Ukrainian War
Its involvement in Russia keeps Raiffeisen Bank International (RBI) and its managers, led by Johann Strobl, very busy. The subsidiary institution in Moscow is RBI's biggest profit earner and almost the entire RBI board is on the Ukrainians' "awaiting sanctions" list. Whether RBI will stay in Russia and how to proceed is still unclear, as the banking group is in a tricky situation.
January 9, 2023
Wirecard Scandal: Trial of Marsalek and other Austrian Entrepreneurs to Begin
The Wirecard criminal trial in what is believed to be the biggest fraud case in Germany since 1945 begins in Munich. The public prosecutor's office accuses the former Wirecard CEO, Austrian Markus Braun, and his two co-defendants of forming a criminal gang, falsifying the group's balance sheets and cheating lenders of 3.1 billion euros
December 7, 2022
Wirecard Scandal: New Indications for Marsalek's Stay in Moscow
Former Wirecard board member Jan Marsalek, who has been in hiding for two years, could be living in Moscow under the protection of Russian intelligence services.
July 26, 2022
Moody's Declares Russia in Default
The U.S. company Moody’s announced in New York that it was concerned with interest payments on two government bonds that had not been received by creditors even after a default period of 30 days had expired.
June 28, 2022
Vienna Stock Exchange Prize 2022 Back on Stage Again
This year, for the first time, the Vienna Stock Exchange Award went to the Styrian printed circuit board manufacturer AT&S. Second and third place went to the oil and gas group OMV and the building materials manufacturer Wienerberger. The prize was awarded for the 15th time.
June 15, 2022
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Construction Giant Strabag Removes Russian Voice on Supervisory Board
At the recently held Extraordinary General Meeting of STRABAG SE, Thomas Bull, a member delegated by the major shareholder Rasperia, was dismissed. His company is owned by the Russian oligarch Oleg Deripaska, who must therefore completely relinquish his control over Strabag.
May 5, 2022
Indian Edtech Giant Byju's Acquires Austrian Math App GeoGebra in €100 Million Deal
India's most valuable startup Byju's is buying Linz-based Geogebra, it has now been announced. Neither company disclosed the purchase price, but insiders say the deal is worth about 100 million euros and includes both cash and stock.
February 21, 2022
Naturalizations in Austria on the Rise Again Due to Descendants of Nazi Victims
Naturalizations in Austria are on the rise again, mainly due to the large number of descendants of victims of nazi persecution who applied for citizenship thanks to the amendment to Austria's Citizenship Act. Read more about this increase in naturalizations.
February 17, 2022
Vienna is Becoming the Start-up Capital of Austria
Vienna's start-ups generated an added value of 3.9 billion euros in 2021, making it the most popular place in Austria for start-ups. Read more about the start-up environment in Vienna and what it has done for the Austrian economy.
February 9, 2022
Putin's Propaganda TV-Channel Tries to Expand to Austria
An attempt to supply an Austrian target group with German-language propaganda from Berlin will apparently fall victim to the media war between the two state broadcasters Russia Today (RT) in Berlin and Deutsche Welle (DW) in Moscow.
February 9, 2022
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Portrait: Who Is Robert Malley, the Old and New U.S. Lead Negotiator of the Iran Nuclear Talks?
In 2021, Robert Malley was appointed U.S. Special Envoy for Iran, which means he is once again the lead negotiator for the U.S. in the Iran nuclear talks. Read about Mr. Malley's career and his efforts to limit Iran's nuclear activities.
December 15, 2021
Luxury Goods Group: Swarovski Drops Further in Ranking
The famous Austrian crystal glass manufacturer Swarovski has fallen a further 3 places on the global ranking of luxury goods sales. The company's sales also halved between 2017 and 2020 from 3.5 billion euros to 1.7 billion euros. Read about Swarovski's decline in sales and the general downturn in the luxury goods industry.
December 8, 2021
Andrea Rois Is the New Head of Group Marketing and Communication at Soravia Investment Holding
Project developer Soravia is strengthening its team with Dr. Andrea Rois (44) as the new Head of Group Marketing & Communication.
November 4, 2021
The Chamber of Commerce Switzerland-Austria-Liechtenstein Turns 100 Years Old
The Chamber of Commerce Switzerland-Austria-Liechtenstein or Handelskammer Schweiz-Österreich-Liechtenstein (HKSÖL) has supported economic relations between the countries for 100 years. They provide professional assistance to companies in these countries and Central and Eastern Europe. The HKSÖL has facilitated a particularly successful economic relationship between Austria and Switzerland. Read more about what the HKSÖL does and the Austro-Swiss economic relationship.
August 27, 2021
Austrian Business Agency: René Tritscher Succeeds René Siegl
René Tritscher has succeeded René Siegl as the new Managing Director of the Austrian Business Agency (ABA). Read about Mr. Tritscher's views on the future of the agency, as well as his previous experience working for ABA - WORK in AUSTRIA and the Austrian Economic League (Österreichischer Wirtschaftsbund).
August 24, 2021
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The New Austrian Identity Card: Modern and Forgery-proof
Experts from the Austrian Ministry of the Interior, Federal Criminal Police Office, and Austrian State Printing House have developed a modern and more secure identity card. The release of the cards is accompanied by a new mobile phone app that allows users to verify the authenticity of the new cards.
August 6, 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
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
UK to End Quarantine for People Vaccinated in the UK Returning from Austria
United Kingdom Prime Minister Boris Johnson announced that the government would begin easing COVID-19 restrictions for England on 19 July. People vaccinated in the UK will no longer be required to quarantine when returning from "Amber List" countries like Austria. Read more about this and what else the PM said will change.
July 13, 2021
Handy-Signatur in Austria: What It Is and How to Get It
The Handy-Signatur is an important tool to have in Austria. It is useful for accessing many online portals, including health insurance and the new Green Pass for proof of COVID-19 vaccination. Learn more about it.
July 8, 2021
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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
Microsoft Investment in Cloud Data Center Adds €2 Billion in Value for Austria
The data center for Austria, which Microsoft announced last fall as a milestone, is taking concrete shape. Microsoft has acquired operational building land for this purpose. The data center ecosystem is expected to include more than 4,000 local partners and cloud-using customers. It also announced investments in a new Center of Digital Excellence and skills training for up to 120,000 Austrians by 2024.
February 5, 2021
Austrian Post Invests More Than EUR 100 Million in Turkish Subsidiary
Despite the critical tensions between the European Union and Turkey, the Austrian Post will be investing more than EUR 100 million in a Turkish subsidiary in the next five years. CEO Pölzl is confident that the separation of politics and the business aspect will be also possible in the future.
October 23, 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
President Van der Bellen at the Salzburg Festival: "Artists Need All Our Support"
Federal President Alexander Van der Bellen invited his German counterpart Frank-Walter Steinmeier accompanied by Elke Büdenbender to a festival and working visit in Salzburg. Both presidents agreed on the fact that artists are in a very difficult situation at the moment and need to be supported.
August 24, 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
ABA - Invest in Austria: 270 Attendees at Austrian Business Agency Event
According to "ABA - Invest in Austria: Austrian Business Agency", 270 companies interested in investing in Austria took part in the first virtual open day to learn about new business models and general conditions for foreign companies in Austria during and after the Corona crisis.
June 25, 2020
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