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Austria International Political News | International | EU | Domestic
Read the latest headlines about developments in Austrian politics with reference to the international interest
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HYPO Group: Further Liabilities Necessary?
The Carinthian HYPO Group would suffer massive losses should it sell its real estate in the Balkans. Due to the write-offs, new liabilities of the Republic might be required.
October 25, 2010
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New Budget: Details and Reactions
The entire tax package will bring additional revenues for around 1.2 billion euro. There are further saving measures for 1.6 billion euro. Reactions from the economic actors are ambivalent.
October 25, 2010
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New Budget, New Taxes
The budget includes a new austerity package, which consists essentially of taxes on mineral oil, tobacco and banks.
October 25, 2010
Bank Austria CEO Cernko: No More Bank Tax Soon
Due to Basel III, location reasons and to safeguard jobs, the bank tax will only be effective temporarily, according to Cernko
October 22, 2010
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Vienna: SPÖ negotiates with the Greens
There is no fixed coalition commitment as yet. However, all signs point to a red-green coalition in the federal capital.
October 22, 2010
Switzerland: Pecik and Stumpf Ransom Themselves
While the two investors paid a fine for the case Sulzer, the case Oerlikon is still not finished.
October 21, 2010
Justice: Powerless Against Accounting Frauds?
A poorly equipped Justice is facing an increasingly complex subject, aggravated by insufficient legal regulation.
October 21, 2010
Increase in Mineral Oil Tax likely
Economy Minister Mitterlehner speaks of a possible moderate increase.
October 21, 2010
Criticism of Austria's Allocation of Subsidies
Both the volume and the organization of the allocation of subsidies are susceptible of improvement, experts say.
October 21, 2010
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Verbund Group: Capital Increase has Been Determined
The capital increase for the biggest domestic electricity generator will allow large investments in energy infrastructure and thereby accelerate new power generation projects.
October 20, 2010
IMF Considers Recovery as "Moderate and Uneasy"
Growth in Europe seems to be normalizing slowly. Dynamism is missing though, and many vulnerabilities are as yet unresolved.
October 20, 2010
New Westbahn Claims Unjustified Subsidies for the ÖBB
The reason is an amendment to the Public Procurement Act, which allegedly gives preference to the ÖBB.
October 20, 2010
Austrian Federal Railways in Debt Crisis
Several infrastructure projects will increase the debt burden of the Federal Railways dramatically. This could bring considerable effects for the financial situation of the whole Federation.
October 19, 2010
Tax Evaders Targeted by the Ministers of Finance
Budget problems plague the majority of EU countries. In addition to budget discipline, the prosecution of tax evaders is to be addressed.
October 18, 2010
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Industry Representatives are Satisfied with New Skilled Workers Regulation
Industry sees the new based immigration model based on criteria as a viable compromise.
October 18, 2010
Slight Fall in Corporate Tax
On the other hand, indirect taxes experienced an increasing trend. Despite tax competition, tax increases are expected due to budget needs.
October 18, 2010
Hypo-Group: Bavarian Lawsuit Against Carinthia
The balance sheet of the Hypo Group -nationalized in 2009- was artificially inflated, according to the accusation from Bavaria.
October 18, 2010
Supervision of Banks: Austria and Russia Intensify Cooperation
A Memorandum of Understanding just signed facilitates cooperation in banking supervision between the two countries.
October 18, 2010
Deal of the Social Partners on Immigration and Social Dumping
Introduction of the "Red-White-Red Card" to combat abuse in the labor market
October 17, 2010
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WIFO-Boss Aiginger Calls Government for Economization
Aiginger claims for reforms in the tax system
October 17, 2010
Production Quota of OPEC Remains Stable
There was consensus in the Vienna-based OPEC. Members show their satisfaction with the current situation.
October 15, 2010
Property Tax is Not Unconstitutional
Property tax is constitutionally unobjectionable; concerns about unit values for calculation of income tax for foundations are however maintained for now.
October 15, 2010
Higher Tolls for Trucks Likely
Higher toll rates in the EU countries are likely due to noise, air and traffic disturbances.
October 15, 2010
Mineral Oil Tax: A Cash Cow for the Finance Minister
State revenues for the mineral oil tax have risen steadily since 2000. At that time, motorists paid 2.726 billion euro; this year it will be 3.9 billion euro.
October 15, 2010
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Stability Pact with Federal States Has Never Been Met
Deficits of the federal states were too high already since 2001, as well as the deficits of the federation. The surplus of the municipalities couldn´t offset them.
October 14, 2010
CEOs of Stock Exchange Alert: Vienna´s Taxation Plans Cast Investors out
The heads of Vienna´s stock exchange, Schaller and Bohl, fear that the introduction of capital and transactional taxes downgrades Austria´s capital market.
October 14, 2010
Global Financial Market System: Norbert Walter Urges for Regulation of Financial Markets
Economist Norbert Walter discussed world financial markets with Lower Austria Deputy Governor Sobotka and Hypo Lower Austria Chairman of the Board Harold at the HYPO Invest Club.
October 12, 2010
Wilhelm Molterer: Management Consultant Since Early October
Former ÖVP Vice Chancellor and Finance Minister Wilhelm Molterer (55) started working as a management consultant. Since early October, his EuroAdvisory GmbH based at Mahler Road 11, is operative in the Vienna city center .
October 12, 2010
Vienna's Municipal Election: SPÖ Loses Absolute Majority, FPÖ is Triumphant
The SPÖ achieves 44.3% at the election. The FPÖ can double its share of votes and comes in second, with 27%. The ÖVP and the Greens show losses.
October 11, 2010
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Asfinag: Toll Revenues for 1.63 Bllion Euro in 2010
The motorway vignette will bring the state-owned motorway company Asfinag 350 million euro this year, truck tolls one billion. Total revenues will be around 100 million above those of 2009, but debts increase by around 600 million.
October 8, 2010
Skylink: Board Changes at the Airport After Vienna Election
At Vienna Airport, the chairman of the supervisory board, Cristoph Herbst, is being talked about as successor to Ernest Gabmann(ÖVP). The Audit Court’s report on Skylink points to serious deficiencies.
October 7, 2010
Mandatory Community Service is Possible Legally
A mandatory community service to substitute military service in the event of the abolition of conscription, would be legally possible. Constitutional experts consider a compulsory community service not excluded by the Constitution.
October 7, 2010
Qualified Workforce: Austria’s Target is to Attract Skilled Immigrants
ÖAAB General Secretary Lukas Mandl: "Germany has long been an immigration country. Austria also has to become one. Austria’s target should be to attract skilled immigrants, after identifying the needs."
October 6, 2010
European Cities Monitor 2010 - Vienna is the biggest mover
According to Cushman & Wakefield research, this year Vienna is the biggest mover, rising up the ranking by six places to 22nd place.
October 5, 2010
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SPÖ's Absolute Supremacy Wobbles in Vienna, According to Surveys
The SPÖ is threatened with the loss of the absolute majority in the Vienna-election on next Sunday, the FPÖ is likely to surpass 20%. Greens and ÖVP might register losses and the BZÖ might miss its entry into the municipal council.
October 4, 2010
Skylink: Position on the Report of the Audit Court
The contents of the Rechnungshof (Audit Court, RH) report is said to be prejudicial; the Airport Board will submit its opinion today.
October 4, 2010
Post Boss Pölzl 3 Months prior to the Liberalization
Post Boss Pölzl allegedly looks ahead with confidence to free competition, even for traditional letters.
October 1, 2010
New Connection Between Mandarin Group and Karl-Heinz Grasser
Grasser invested money for his mother in law. According to reports, the connection between the Caribbean offshore company Mandarin and the ex-finance minister has been proven.
October 1, 2010
Vienna now has its own Expat Center
In Vienna, the first Expat Center in Austria was opened. The project was handled by the Vienna Business Agency (former WWFF).
September 30, 2010
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EU: Austria's Actual Net Contribution has Risen to 342 Million Euro
The net contribution to the EU rose again last year. Poland, with 6.5 billion euro is for the first time the biggest net recipient. Germany remains the biggest net payer with 8.1 billion euro.
September 28, 2010
BayernLB has to Wait 7 Years for 3.9 Billion from Carinthia
After the debacle of the Hypo Group Alpe Adria (HGAA), the Bayerische Landesbank will have to wait up to 7 years for the repayment of the 3.9 billion euro. The repayment plan provides for this period.
September 28, 2010
“GmbH light” Coming in Early 2011
The minimum capital will amount to 10,000 euro. Currently, the Amtsblatt (Official Journal) is still reluctant to reduce its fees for mandatory publications.
September 28, 2010
Elections in Styrya: SPÖ manages to claim first place, just.
The SPÖ was able to claim the first place after a thrilling count against the ÖVP. The FPÖ was able to double results as compared to 2005, and gets into the Landtag again.
September 27, 2010
Elsner Provides Help in Finding Missing Bawag Funds
Former BAWAG CEO wants to clarify the fate of 1.7 billion euro of failed investments allegedly made by the speculator Wolfgang Flöttl to the detriment of BAWAG.
September 24, 2010
Mitterlehner Meets Hendry: Development of Renewable Energies
The Finance Minister met with the British Energy Minister Charles Hendry for talks about the energy policy in the EU, the development of renewable energy sources and increasing the security of energy supply.
September 21, 2010
Siemens Austria: Corruption Prosecution Expands Investigation
According to a media report, the prosecution has questioned two ex-managers of the group on suspicion of infidelity. They allegedly bribed business partners in South Eastern Europe.
September 21, 2010
ÖIAG: ÖVP vs. SPÖ
Schieder and Rudas demand dissolution of the state holding ÖIAG, Finance Minister Pröll, on the other hand, wants to “strengthen” it.
September 17, 2010
CESEE Bank Conference: Joint Supervisory Academy in Vienna
Finance Minister Josef Pröll wants to create common standards for the CEE region with an Eastern Bank Supervisory Academy in Vienna.
September 17, 2010
Austrian Post Refurbishes its Board
ÖIAG boss Peter Michaelis gives green light for the refurbishment of the Post’s board. Meanwhile, rumors are growing that the changes will not only affect the parcels sector.
September 16, 2010
ÖIAG Boss Michaelis Under Pressure
ÖIAG Boss Peter Michaelis considers that the "campaign" against him evidences that "the actual work of ÖIAG provides no target for criticism." He considers his 700,000-euro salary as justified.
September 15, 2010
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