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Vienna International Community - Top Politicians - Latest Headlines

Ruttenstorfer Fine Confirmed

The fine imposed to the CEO of Austrian OMV, Wolfgang Ruttenstorfer, for market manipulation, remains standing.

January 22, 2011

ÖBB in "Rebuilding Phase"

The CEO of the Austrian Federal Railways, Christian Kern, sees a new era beginning for the group. He intends to put more focus on performance.

January 22, 2011

Change in Leadership at Bank Austria

Paolo Fiorentino, has been elected as Chairman of the Supervisory Board of Bank Austria. Francesco Giordano will act as future Chief Financial Officer.

January 22, 2011

EU: New Early Warning System Against Financial Market Risks

Two Austrian officials point out the relevance of the new institution, which will particularly benefit Austria.

January 21, 2011

EnBW Intends to Expand Engagement in Austria

The core shareholder of the Austrian company EVN plans further expansions abroad, especially in the "Alpine countries".

January 21, 2011

voestalpine: Increased Employee Participation Possible

For the CEO of the Austrian steel group, Wolfgang Eder, the increase of the participation from the current 13.3% to around 16% is envisaged.

January 21, 2011

New CFO for Vienna Insurance Group Slovakia

Vienna Insurance Group in Slovakia: Klaudia Volnerová is appointed Kooperativa's new Chief Financial Officer

January 21, 2011

Viennese Economic Chamber Demands Tax Relief for SMEs

The President of the Viennese Economic Chamber, Brigitte Jank, presents a three-stage relief model for small and medium-sized enterprises.

January 20, 2011

Pröll is Against the Extension of the Euro Shield

The Austrian Finance Minister, Josef Pröll (ÖVP), called for stricter budget discipline and pronounces himself against a more extensive rescue shield

January 20, 2011

Hypo Group Purchase by BayernLB was "unrealistic"

The former chairman of BayernLB’s Supervisory Board said that the bank cheated itself on the purchase of the Hypo Group.

January 20, 2011

WKÖ Expects further Rise in Energy Prices

Due to the economic recovery, the Austrian Economic Chamber forsees further increases in oil prices. However, there also exists some saving potential.

January 20, 2011

Vienna International Airport: +8.7% Passengers During 2010

The strongest increase has been recorded in passenger traffic to Eastern Europe and to the Middle East. For 2011, the company expects a 5.0% increase.

January 20, 2011

Demand to Unburden Business Founders

The Austrian Economic Chamber demands the creation of tax and corporate law unburdening for company founders.

January 19, 2011

Oberbank is Expanding

Oberbank boss Franz Gasselberger has big plans. The branch network will be expanded this year by eight new branches to 150. The banker’s focus of expansion is Vienna.

January 19, 2011

Reform Backlog Prevents Austria Being a Success Model

The chairman of the WIFO, Karl Aiginger considers that Austria’s future capital has been gambled away because of lack of reforms. The EU, however, is "not on track" either.

January 19, 2011

The Hypo Group and its Consultants

In the months before and after the emergency nationalization of the Austrian Hypo Group, the Bank paid rich consulting fees despite all turbulences.

January 18, 2011

Federation of Trade Unions Calls for "Tax Justice"

A new debate is sparking off in Austria, and possibly also a tax reform. The Gewerkschaftsbund (ÖGB, Federation of Trade Unions) wants workers to be tax-unburdened.

January 18, 2011

Bank Taxes: „Job Cuts or Price Increase”

According to Michael Ikrath, bank representative of the “Sparkassen”, the new charges for Austrian banks are the highest in Europe.

January 17, 2011

Treichl: Massive Criticism on Austrian Government

Andreas Treichl, CEO of Erste Group criticizes the Austrian Government for its fiscal and structural policy. 2011 would be the last chance for reforms.

January 16, 2011

New Charges against Ruttenstorfer

The chairman of Austria's OMV is accused of market manipulation because of an interview.

January 14, 2011

New Perspectives for Nabucco

The European Commission wants to commit Azerbaijan to supply gas to Europe. This is expected to be done via the Nabucco pipeline.

January 14, 2011

Bawag and Post Share 520 Branches

Investments in the common branch network of the Austrian Post and the U.S. fund Cerberus owned Bawag are running.

January 14, 2011

Austria's Trade Deficit with China Shrinks

Thanks to the rising export figures, the trade deficit in the traditionally negative balance with China is declining.

January 13, 2011

Harsh Criticism of Government by Junge Industrie

Junge Industrie (Young Industry) an interface organization of the Industriellenvereinigung (Industrialists’ Federation) criticizes particularly the pension policy.

January 13, 2011

WKÖ endorses policy of the European Commission

The Austrian Economic Chamber welcomes the focus of the EU Commission on structural reforms, consolidation of public finances and competitiveness.

January 13, 2011

CA Immo Expects Sharp Rise in Earnings

After a major expansion, the Vienna-based real estate company´s assets stand at above € 5.0bn. The annual growth rate has exceeded 30% since 2005.

January 12, 2011

Rapid Increase in Exports to Emerging Markets

The Austrian export economy can benefit massively from the solid demand from Asian and South American emerging markets.

January 12, 2011

New Controversy over the Hypo Group

According to the investigators, there would be no connection between the Austrian bank and Gribkowsky, the former member of the board of BayernLB

January 10, 2011

Austrian Tourism Operators Continue to Invest Heavily

Investment in the tourism business is estimated at € 5.0bn for 2011. The previous year’s level will therefore be maintained.

January 10, 2011

EVN Elects New Supervisory Board

The majority shareholder of the Austrian energy company EVN submitted a proposal regarding the new supervisory board elected on January 20.

January 10, 2011

Immofinanz Group: New Head of Developments Commercial

The Immofinanz Group announces the appointment of Ralph Bezjak, 43, who has recently taken on the position of Head of Developments Commercial.

January 10, 2011

Recovery in Austria´s Labor Market Continues

The domestic labor market´s data for 2010 were better than expected. The number of job-seekers declined by 3.7%

January 8, 2011

Volksbanken Profitable Again

The Austrian Volksbanken Group generated profits in 2010. The state’s money should be repaid this year.

January 7, 2011

Demands for Financial Transactions Tax

The Chairman of the Austrian Provincial Governors’ Conference, Josef Pühringer, demands the introduction of a pan-European financial transactions tax.

January 7, 2011

Management Change at IBM Austria

Tatjana Oppitz is the new Director-General at IBM Austria, replacing Leo Steiner.

January 7, 2011

Suspicion on Money-Laundering at Hypo Group

Money transfers between the Carinthian Bank, Switzerland, Liechtenstein and the Caribbean are currently being checked extensively by the judiciary.

January 7, 2011

Former Member of the Board of BayernLB Arrested

Gerhard Gribkowsky, whose foundation in Austria was concealed to the German judiciary and is now known, is in custody

January 5, 2011

Black Economy is still Difficult to Control in Austria

About 14% of the economic product evades the Treasury in the Austrian economy, but experts say the trend is declining again.

January 5, 2011

Hypo Group: Little Enlightment Expected from Grasser and Berlin

The Chairman of the Inquiry Committee on the Hypo Group expects little gain of information by the summons of Karl-Heinz Grasser and Tilo Berlin.

January 4, 2011

Special Tax: Hungary Under Fire

Especially the Austrian economy criticizes the Hungarian special tax on large companies. The EU Commission has already started an investigation.

January 4, 2011

Kneissl: Insolvency Seems Inevitable

The traditional Austrian ski producer Kneissl, owned by the Arab investor Al Jaber, did not pay its mature liabilities for months.

January 3, 2011

Secret Foundation of BayernLB in Austria

In the hearings on the purchase of Austria's Hypo Group, a former Member of the Board of BayernLB concealed the existence of a foundation in Austria.

January 3, 2011

Austrian Federal Railways Needs € 400m

Christian Kern, CEO of the Federal Raiways (ÖBB), backed up his call for a capital increase.

January 3, 2011

Leitl Urges Implementation of Reform Plans

The President of the Austrian Economic Chamber shows himself pleased by the economic data 2010 and urges the continuation of educational and administrative reforms.

January 3, 2011

13 CEOs Call For Sanctions Against Hungary

Because of the new taxes introduced by the Hungarian government, a group of prominent European CEOs call for EU-sanctions.

January 2, 2011

Austrian Unemployment Further Declines

Unemployment numbers go down specifically in the production sector. Long-term unemployment also declines over average.

January 2, 2011

Red Bull Massively Invests in Upper Styria

The Austrian energy drink producer Red Bull re-opens the former Formula1 race track in Styria.

January 1, 2011

Drastic Job Cut at ÖBB

The Austrian Federal Railways cuts 650 posts at its freight division Rail Cargo Austria (RCA).

January 1, 2011

RLB OÖ Records Substantial Growth

Raiffeisenlandesbank Oberösterreich experiences a 11.8% increase in operating profits. Cost-Income ratio further decreases.

December 31, 2010

Austria's Minister of Social Affairs Wants to Extend the Years of Employment

Rudolf Hundstorfer wants to see older workers work longer, and is trying to get the consensus of businesses.

December 31, 2010
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