Read the latest headlines about developments in Austrian politics with reference to the international interest
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Austria International Political News | International | EU | Domestic

Austrian Inflation to be well above 2% in 2011

Temporary price-drivers of fuels, commodities as well as the budget consolidation spurring inflation on, but lack of cyclical inflationary pressures.

January 27, 2011

Austria's Pension Funds: 6.61% yield in 2010

Austria's pension funds generated an income of around € 800m in 2010. The annual performance is above the long-term average.

January 27, 2011

Austria: The Gateway to Central Asia?

Leading Austrian politicians intend to attract attention at the World Economic Forum to what promises to be a new target region.

January 26, 2011

Bank Assistance is Lucrative for the State

Contrary to fears, revenues of the bank rescue package more than double the refinancing costs.

January 26, 2011

Shortage of Skilled Labor in Medium-sized Enterprises

According to a report by Ernst & Young, the growth of two out of every three Austrian companies is hindered by the lack of qualified personal.

January 26, 2011

Budget-saving Measures in Austria are Insufficient

According to the WIFO, budget deficit and public debt are lower than the EU average; central potential savings have been neglected however.

January 26, 2011

ÖIAG: Industrialist Beyrer is Favorite

In the discussion about the succession for the state holding company OIAG, the Secretary General of the IV (Federation of Austrian Industries), Markus Beyrer, is a favorite.

January 25, 2011

Germany: Largest Investor in Austria

Based on the number of new companies settling in Austria, Germany is the largest investor. More than 40% of the new arrivals come from the northern neighbor.

January 25, 2011

Austria's Growth Remains Dependent on Exports

The Austrian GDP will grow in real terms, according to WIFO, at an annual average of 2.2% per year between 2011-2015. The unemployment rate is expected to stagnate.

January 25, 2011

"Conversations about the Future" between Austrian and Canadian IT companies

The Austrian IT industry, motivated by Canadian success models, intends to strengthen its role in the domestic economy significantly.

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

Pricing Agreements in Austria's Transport Industry

The Austrian Federal Competition Authority has ncovered two shipping cartels involving several well-known carriers.

January 21, 2011

12% of Austrian Population at Risk of Poverty

Europe 2020 strategy against risk-of-poverty and exclusion: Every sixth person in Austria is in target population.

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

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

Tax Treaty between Austria and Germany

Austria and Germany sign a revision protocol on double taxation agreements to implement the OECD standards of transparency and effective exchange of information.

January 19, 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

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

Hungary: Calls for Boycotts against Foreign Companies in Hungary

A Hungarian initiative demands that 13 foreign companies be boycotted, including Austrian OMV

January 18, 2011

OMV Pulls its Staff out of Tunisia

Due to the recent developments in Tunisia, the Austrian OMV pulls back to a large extent. The cardboard manufacturer Mayr-Melnhof stays on.

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

Austria's wind Energy Expands

After years of stagnation, capacities for wind energy are now being expanded again. IG Windkraft considers that subsidies are too low.

January 15, 2011

AMS Expects Marked Relaxation of the Labor Market by 2013

The Arbeitsmarktservice (AMS, Labor Market Service) foresees a significant increase in labor supply on the Austrian labor market. Unemployment will stagnate.

January 15, 2011

Increase of Payment Difficulties for Austria’s Private Households

Estimated 270,000 Austrian households are currently facing financial difficulties and are not able to serve credit sufficiently.

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

Austria's Competitiveness Increases Slightly

Austria rose one place, to the 21st, in the ranking of the most liberal economies.

January 14, 2011

Slow upward trend in Austria's trade and handicrafts

For 2010, KMU-Forschung Austria expects slight sales increases. Support for research projects will be supported in future.

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

Strong Merger Growth in Austria

The number of mergers has increased in 2010 by 12%. The Federal Competition Commission reported 238 cases.

January 12, 2011

Insolvencies decline in Austria

Corporate insolvency proceedings fall by 5.9%, affecting more than 85,000 creditors. Creditreform considers there is still potential for lower figures.

January 11, 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

Austrian Tobacco Industry Fears Cigarette Smuggling

According to the presently Japanese Austria Tabak, 20% of cigarettes are already smuggled. The tobacco tax is expected to increase this trend even more.

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

Austrian SME as a Source of Innovation

Austria's small and medium enterprises are, according to the Small and Medium-Sized Business report, the main driver for innovations.

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

FMA Prohibits Speculative Elements in Savings Accounts

The Austrian Financial Market Authority FMA specifies the characteristics of savings certificates. The traditional savings account is to remain non-speculative

January 5, 2011

Downward Trend of Austrian Unemployment

Unemployment trend: Flash estimates for the fourth quarter of 2010 show an unemployment rate of 4.1%.

January 5, 2011

Demographic Development: a Future Challenge for Austria

The expected demographic development will increase expenditure in geriatric care in Austria.

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

R&D: High Activities of Austrian Firms with Foreign Co-Investors

The OECD publishes its Science, Technology and Industry Outlook 2010 for Austria. 23% of R&D expenses are funded from abroad.

January 4, 2011

Social Justice shows High Levels in Austria

The Bertelsmann Foundation released a study on social justice issues in OECD countries. Austria is located among the top third.

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

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

New Responsibilities for the Financial Market Authority

As of 2011, the Austrian Financial Market Authority (FMA) has to face new challenges. The focus is on the fight against money laundering.

January 3, 2011