Read the latest headlines about developments in Austrian politics with reference to the international interest
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Retirement Provisioning: Austrians Put aside € 63 per Month

Retirement provisioning study 2011: Austrians prefer low-risk investments. 58% rely on the financial knowledge of their bank account managers.

June 29, 2011

Slight Decline in Company Insolvencies

Private insolvencies are on the rise, while the number of companies filing for bankruptcy is falling moderately.

June 28, 2011

“We Need to Increase Support for SME”

Experts say the government’s efforts for increasing the research quota are half-hearted. € 600m per year would be necessary to achieve the target.

June 24, 2011

Constitutional Court Cancels Starting Date of New Capital Gains Tax

The Court has no objections to the new capital gains tax itself. Only the starting date for automatic collection by the banks was declared unconstitutional.

June 24, 2011

Austrians Support Aid for Greece

The majority of the Austrian population does not want to let Greece down. 55% see the common currency at risk.

June 22, 2011

Almost One Million Shareholders in Austria

Compared internationally, the Austrian population has a very low interest in the stock market. Only 13% invest in shares or funds.

June 21, 2011

Retail Sector: New Discussion about Sunday Opening

The current dispute is about the right to open shops on certain lucrative Sundays. The operator of a shopping center has brought in an action at the Constitutional Court.

June 20, 2011

Patent Protection to Become Cheaper

In Europe patent protection is currently ten times more expensive than in the US or Japan. Austria will participate in an EU-wide cooperation which will reduce the cost significantly.

June 20, 2011

IMF Calls for More Ambitious Budgetary Consolidation

Austria was asked to make higher efforts to reduce its debt. The IMF recommends savings in the pension and health care systems as well as lower state subsidies in next year’s budget.

June 14, 2011

Massive Drop in Trading at the Vienna Stock Exchange

Trading volume slumped by 42% to € 4.4bn as a result of the new capital gains tax on securities. The proportion of Austrian investors fell to 26%.

June 9, 2011

ÖBB: Opposition to Privatization Plans

Austrian Finance Minister Maria Fekter has sparked a debate about the railway company’s future. Her plans have been criticized from many sides.

June 6, 2011

Swiss Expert Criticizes Austria’s Role in International Money Laundering

OECD expert: “Austria is used as a gateway for international money laundering. It is doing too little to fight the phenomenon.” Only twelve convictions were made in 2009.

May 26, 2011

Slight Decline in OeNB’s Profit in 2010

The Austrian national bank's operating profit came to € 291m in the previous year. € 269m will be paid to the central government.

May 26, 2011

„Austria Is Losing Its Competitiveness“

The Industrial Association’s president sees a “dramatic deterioration” of Austria’s competitiveness as a business location and criticizes a lack of respect for industrialists.

May 18, 2011

Industrial Association Demands Modernization of School System

The Austrian Industrial Association emphasizes the role of school and the need for reforming the educational system as the economy already suffers from a skills shortage.

May 17, 2011

Upheaval in the Austrian Gambling Market

Casinos Austria are going to face competition. The exact conditions for granting the casino concessions have not been decided yet.

May 17, 2011

Reactions to Treichl’s Criticism

Treichl’s criticism of Austrian politicians and Basel III rules has sparked a public dispute. WIFO disagrees and calls banks’ attitude “highly provincial”.

May 17, 2011

Erste’s Treichl Says Politicians ‘Cowardly’ on Basel III Rules

Andreas Treichl, CEO of Erste Group, provokes fierce reactions with his criticism of Austrian politicians and new international capital rules.

May 16, 2011

voestalpine: Eder Threatens to Withdraw from Austria

The voestalpine steel company has to struggle already massively with the EU’s climate change protection objectives, said Eder. They should not be increased further.

May 14, 2011

Leitl: "Reforms, Despite the Positive economic Outlook Should Not Be Forgotten"

Spring forecast by the EU Commission: Clearly improved growth prospects for Austria and the European Union

May 14, 2011

Resistance to Privatization Plans

The SPÖ criticized the plans of its coalition partner ÖVP to reduce public participation in order to abate debt.

May 10, 2011

Contradictions Regarding Expenditure for Bank Package

According to Eurostat, € 1.4bn more were spent on bank assistance than the corresponding revenues. The Ministry of Finance contradicts this.

May 7, 2011

Workers Continue Feeling the Crisis

The Austrian Working Climate Index increased only slightly from 107 to 108 points during the last half-year. According to the Labor Chamber, the crisis has not been mastered yet, particularly for workers.

May 7, 2011

Leitl and Sorger Demand Privatizations

Economic Chamber’s President Christoph Leitl and Industrialists' Association President Veit Sorger spoke in support of privatization at a press conference.

May 5, 2011

Leitl: "Austria was the Largest Investor in Turkey in 2010"

WKÖ President Leitl pointed to the intense economic links between the two countries during the state visit of Turkish President Abdullah Gül to Austria.

May 4, 2011

Moser Demands Changes in Debt Policy

Josef Moser, President of the Audit Court warns urgent structural reforms of the policy. There is no all-clear; the situation is "ominous".

May 3, 2011

Labor Chamber: Productivity Grew Significantly More Than Salary Increases

Personnel costs per employee of Austrian companies, according to the Labor Chamber (AK) have grown less than half as strong as productivity since 2003.

April 30, 2011

Carinthia: Further Development of Lakeside Park Secured

The course for further expansion of the flagship project has been set; an area of 4.5 hectares has been secured.

April 30, 2011

Greenpeace, vida and EVN: "Austria's Future in Energy is Renewable"

The switch to clean energy is possible by 2050, according to a current IHS study. It is to be achieved by halving the demand for energy.

April 30, 2011

Austria's Deficit in 2011 at 3.9 Percent

Despite the economic recovery, the debt will increase significantly again in 2011. The consolidation will take place from 2013 onwards.

April 29, 2011

Austrian Educational Level Rises

Educational level of young people aged 15 to 34 compared with their parents: Trend towards higher education.

April 28, 2011

Lending Behavior of Banks Remains Stable

The credit policy of Austrian banks remained stable for the third year running in the first quarter of 2011 and it is also expected to remain unchanged in the second quarter of 2011.

April 28, 2011

"Austria has Lost its Chance"

The labor market opening of Austria for the more recent EU member states comes too late, according to the manufacturing industry.

April 27, 2011

Lower Austria Seeks Airport Privatization

Lower Austrian Governor Erwin Pröll (ÖVP) intends to sell the 20% share of Vienna International Airport. The city of Vienna is not pleased at all.

April 23, 2011

Austrian Government Reshuffle has been Completed

The resignation of Josef Pröll triggered a reshuffle in the ÖVP. Most of the positions have been filled by now.

April 22, 2011

Herbst’s Withdrawal is Imminent

The CEO of Vienna International Airport, Christoph Herbst, should be about to resign. He is considered to be seeking a position at the Constitutional Court.

April 22, 2011

More Unemployed are Looking for Full-Time Jobs Than at the Start of the Crisis

The Austrian Chamber of Labor criticizes that despite the economic boom there are less full-time jobs available than before the economic crisis.

April 21, 2011

Fierce Criticism of Austria's Energy Policy

Anschober (Greens): "The Minister of Economy insists on the worst promotion policy of green electricity in Europe: this is hostile to the business and labor market"

April 21, 2011

Research Undertaken by Enterprises is Growing Again

An increase in research expenditure of 5% is expected for 2011. The expenditure should amount to € 8.3bn this year.

April 20, 2011

Rethinking of Health Policy Required

Junge Wirtschaft (Young Business) demands more economic incentives for healthy lifestyles for employees. This should allow an increase in retirement age.

April 19, 2011

Bad Image for Tourism-Related Professions

Austria's tourism industry workers are dissatisfied with their jobs because of relatively low pay and bad working conditions.

April 19, 2011

Austrian Research Intensity Expected to be 2.79% of GDP in 2011

According to an estimate of Statistics Austria, for the first time presumably more than €8 billion will be spent on research and experimental development (R&D) in 2011.

April 19, 2011

Maria Fekter is the New Finance Minister

As part of the changes in the ÖVP government team, Minister for Internal Affairs Maria Fekter changes over to the more prestigious Ministry of Finance

April 16, 2011

Financial Problems in Austrian Municipalities

The revenue of Austrian municipalities should not be fall further in 2011, however, new expenditures will be caused by additional competences.

April 16, 2011

"Austria Has a Historical Chance to Become Europe’s Logistics Hub"

Sources from the transport industry consider that Austria offers potentials, mainly in the Danube and rail traffic.

April 16, 2011

Founding conference of the “CESEE Insurance Supervision Initiative” in Vienna

The “CESEE Insurance Supervision Initiative” is holding its founding conference today and tomorrow in Vienna.

April 16, 2011

Austria Fell for the First Time in the International Property Rights Index

The IPRI compares 129 different countries for their economic benefits in strong protection of land, intellectual property and other private property.

April 15, 2011

Spindelegger New Vice-Chancellor and Head of ÖVP

Michael Spindelegger succeeds Josef Pröll as leader of the conservative party and Vice-Chancellor. Who will be in charge of the Minister of Finance, is still not clear.

April 15, 2011

ÖBB Promote Construction of the Brenner Tunnel

After the ÖBB detached themselves from the financing of the Brenner tunnel in February, an agreement was reached with the Ministry of Finance.

April 14, 2011

Electric Mobility as a Topic of the Future for Domestic Enterprises

Austria's top politicians are expecting a high potential for Austria's economic landscape on occasion of the opening of the EL-MOTION congress.

April 14, 2011
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