Vienna International Professional Services Industry News

Austrian Banks with Capital Reserves Prove Resilient Despite Downturn

Despite Austria's longest, albeit not deepest, recession since World War II, domestic banks are in robust shape. Thanks to high profits in 2024, most of which were retained to strengthen the equity base, the Common Equity Tier 1 (CET1) ratio rose to an impressive 18.6 percent by mid-2025.

November 12, 2025

The Magnificent Villa Andrássy at Hohe Warte in Vienna is up for Sale for €18 Million

The Vienna real estate scene is currently being shaken up by a spectacular sales announcement: the magnificent Villa Andrássy in the exclusive Döbling cottage area, Hohe Warte, is up for sale. The asking price for the historic property, which is considered an architectural masterpiece, is €18.5 million.

November 10, 2025

Vienna Stock Exchange Launches CEE Thematic Indices on AI, Defense, and Ukraine's Reconstruction

The Vienna Stock Exchange (VSE) is reinforcing its role as a specialist for Central and Eastern Europe (CEE) and has expanded its index offering with three new, thematically focused benchmarks. The indices, which reflect the currently popular investment themes of digitalization, security, and reconstruction, are now being calculated. They offer investors the opportunity to invest specifically in companies in the CEE region that are expected to benefit from these long-term trends.

November 5, 2025

Austria at the Center of a Global Surveillance Scandal Involving Celebrities, Politicians, and Red Bull Executives

An international investigation by the "Surveillance Secrets" consortium has uncovered the largest known data set in the global surveillance industry to date and shines a spotlight on the allegedly illegal activities of the Indonesian company First Wap. Over the years, thousands of people worldwide have been secretly tracked and monitored, including Austrian singer Wolfgang Ambros, Hollywood actor Jared Leto, and numerous employees of the Red Bull Group.

October 16, 2025

First Verdict in the Signa Complex Case: Two Years Imprisonment for René Benko

The founder of the insolvent real estate empire, René Benko (48), was sentenced to two years' imprisonment for fraudulent bankruptcy at the Innsbruck Regional Court. The time he has spent in custody since January will be counted towards his sentence. The verdict is not yet final.

October 16, 2025

Trial to Begin in René Benko Case Involving Non-Transparent Cash Flows and €30 Billion in Claims

Just under two years after the spectacular collapse of the Signa empire founded by René Benko, the 48-year-old investor is facing a turning point: the first criminal trial begins next Tuesday at the Innsbruck Regional Court. While the judiciary accuses him of concealing assets from creditors, the investigating authorities still consider the “big picture” of cash flows in the opaque Signa structure to be open.

October 12, 2025

OMV Changes Capital Market Strategy, Scales Back Investment Plans Until 2030

The partially state-owned energy company OMV is significantly adjusting its 2030 strategy and massively scaling back its planned investments. In order to increase its financial resilience in the face of ongoing economic and geopolitical volatility, the group is reducing its cumulative organic investment plans for the period from 2026 to 2030 by a total of five billion euros.

October 7, 2025

Croatian Businesses Showcase Their Activities at Schönbrunn Palace

The Croatian Economy Day took place in the imperial setting of the Gloriette in Schönbrunn Palace Park. Over 200 guests took the opportunity to engage in direct dialogue with around 40 Croatian companies. The event, organized by the representative office of the Croatian Chamber of Commerce (HGK) in Vienna, once again underscored the close and growing economic partnership between Austria and Croatia.

October 6, 2025

Austria's Budget Deficit One Billion Higher Than Expected

The Austrian economy faces far-reaching challenges: while the overall government budget deficit for 2025 is forecast to be one billion euros higher than originally assumed, massive bankruptcies, including that of Süba AG and the Höhrhan Group, are shaking the real estate and automotive supply industries.

October 5, 2025

Austria Focuses on “Continent of Opportunity” with National Africa Strategy

The federal government has given the green light in the Council of Ministers for the development of a comprehensive, nationwide Austrian Africa strategy. The strategy aims to raise relations with the African continent in the areas of economy, security, migration, education, and culture to a new, structured level.

October 2, 2025

Fugitive Wirecard Manager Marsalek Tracked Down in Moscow

After extensive international research, a consortium of journalists has tracked down fugitive Wirecard manager Jan Marsalek in Moscow. According to reports, the 45-year-old is living under a false identity and working for the Russian secret service, the FSB.

September 17, 2025

Record Claims Amounting to Billions Against Signa Founder René Benko

René Benko, founder of the insolvent Signa Group, is also facing unprecedented claims in his personal bankruptcy.

September 17, 2025

New Twists in the Signa Scandal: Benko Incriminates Former Chancellor Gusenbauer

There has been a decisive turn of events in the ongoing investigation into the Signa bankruptcy. Real estate investor René Benko, who is currently in custody, has directly implicated former Austrian Chancellor Alfred Gusenbauer in a court hearing. Benko claims that Gusenbauer was fully aware of the dire financial situation of the Signa Group—a statement that contradicts Gusenbauer's previous denials.

August 21, 2025

Another Bankruptcy Rocks the Real Estate Industry: Viennese Investor Klemens Hallmann Files for Personal Bankruptcy

Vienna-based entrepreneur Klemens Hallmann has filed for personal bankruptcy. The investor, who is active in the real estate and film industries, is seeking a restructuring process under his own administration. He is offering his creditors a 30% dividend, payable within two years. Hallmann Holding is not affected by the bankruptcy.

August 19, 2025

AT&S and European Partners Revolutionize Electromobility with Research Project “HiPower 5.0”

In a step forward for the European microelectronics and mobility industry, leading technology companies and research institutions in Europe have launched the EU research project “HiPower 5.0.” Coordinated by Austrian mobility technology company AVL List GmbH and with Austrian microelectronics manufacturer AT&S as a strategic partner, the project aims to develop intelligent and highly compact drive solutions for the automotive and shipping sectors that enable greater efficiency and range.

August 14, 2025

Signa Insolvency Proceedings Take a New Turn: €191 Million Claim Against Benko

In the insolvency proceedings involving former Signa founder René Benko, a new development is once again causing a stir. A company from Abu Dhabi has filed claims against Benko in the amount of €191 million at the Innsbruck Regional Court.

August 13, 2025

Kaufhaus Tyrol in Innsbruck Sold After Signa Bankruptcy

The sale of the Kaufhaus Tyrol department store in Innsbruck, once a prestigious project of Signa founder René Benko, is now officially complete. As part of the bankruptcy proceedings of Signa Prime Selection AG, the newly founded company KHT AcquiCo SARL has taken over the downtown department store.

August 6, 2025

Austria's Armed Forces Want Own Satellites for Greater Independence

The Austrian Armed Forces are finalizing their plans to venture into space. According to an announcement by the Ministry of Defense, the first Austrian satellites are scheduled to be launched in late 2026 or early 2027. The aim is to reduce dependence on other countries for important satellite services and to establish an independent infrastructure in space.

August 5, 2025

EU Approves 1.6 Billion Euros for Comprehensive Reforms in Austria

The European Commission today approved Austria's second payment request for €1.6 billion from the NextGenerationEU recovery plan. In doing so, the Commission confirms that Austria has successfully met the ambitious 67 milestones and targets for the second and third installments.

July 30, 2025

OPEC Fund Development Forum 2025: Global Partners Seek Ways to Build a Stronger Future

The international development community is gathering in Vienna for the fourth OPEC Fund Development Forum. Under the theme “A Transition that Strengthens Our Tomorrow,” more than 500 high-level representatives, including heads of state, ministers, and heads of international institutions, are coming together in the historic setting of the Hofburg Imperial Palace to discuss pressing global challenges.

July 29, 2025

Austria's Debt Relief: A Focus on Billions

Since the turn of the millennium, Austria has waived debts amounting to around €3.4 billion owed to other countries. This information is based on a recent parliamentary response from the Ministry of Finance, which has drawn particular criticism from the Freedom Party of Austria (FPÖ).

July 16, 2025

Wirecard Scandal: Liquidator Reveals Billion-Euro Loss

Five years after its collapse, the Wirecard scandal continues to reverberate: Insolvency administrator Dr. Michael Jaffe revealed in the trial against former CEO Markus Braun that an incredible €1.1 billion was “burned” at the payment processor. While Braun claims in court that a shadow network existed, the main suspect, Jan Marsalek, remains at large, presumably in Russia.

July 9, 2025

Microsoft Strengthens Austria's Digital Future: Billion-Euro Investment in New Cloud Region

Technology giant Microsoft officially opened its new cloud region in Austria in the presence of State Secretary Alexander Pröll. With an investment of one billion euros and three data centers in the Vienna metropolitan area, which will go into operation in August, Microsoft is sending a strong signal for the country's digitalization and economic development.

July 3, 2025

Vienna No Longer the Most Livable City in the World: Copenhagen Takes Top Spot

After three years, Vienna has lost its top position in the Economist Intelligence Unit (EIU) Global Liveability Index 2025 to Copenhagen. The Austrian capital now shares second place with Zurich. The main reason for Vienna's decline is a loss of points in the area of stability, influenced by foiled terrorist attacks.

July 1, 2025

Charges Against René Benko Loom Closer: New Lines of Investigation Revealed

In the far-reaching Signa affair, the first charges could soon be brought against the insolvent company founder René Benko. The Public Prosecutor's Office for Economic Affairs and Corruption (WKStA) has submitted an initial “proposal report” to the Ministry of Justice.

June 24, 2025

Vienna as Europe's AI Hub: Supercomputer Launched, Gigafactory in Sight

The Austrian capital is consolidating its position as a European hub for artificial intelligence (AI). With the imminent launch of AI Factory Austria (AI:AT) and its active bid to become one of Europe's AI gigafactories, Vienna is sending a strong signal for innovation and digital sovereignty.

June 24, 2025

ISTA and Google Forge Long-Term Research Partnership in Klosterneuburg

The Institute of Science and Technology Austria (ISTA) in Klosterneuburg and global technology giant Google have signed a far-reaching Master Sponsored Research Agreement to consolidate their existing collaboration and jointly advance innovative scientific research projects. This long-term partnership, which also includes financial support for research projects from Google, aims to further strengthen the ecosystem at the ISTA campus and open up new avenues in science.

June 24, 2025

Austria's Role in the Reconstruction of Ukraine: An Opportunity for Business and Long-Term Partnership

While the war in Ukraine continues to rage, attention is already turning to the aftermath: the massive reconstruction of the war-torn country. Austria, once the fifth-largest foreign investor in Ukraine, could play a decisive role in this process, not only to boost its economy but also to build a long-term partnership.

June 23, 2025

Signa Insolvency: Creditors Demand €11.7 Billion, Sale of Luxury Real Estate Underway

Following the collapse of the real estate group Signa, founded by René Benko, creditors have filed claims totaling €11.7 billion. The insolvency administrator of Signa Prime Selection AG (SPS), Norbert Abel, is working to sell the remaining assets to satisfy creditors.

June 2, 2025

Alfred Stern Leaves OMV in Summer 2026: End of an Era of Change

Alfred Stern, CEO and Chairman of the Executive Board of OMV, will not extend his contract beyond August 31, 2026. The 60-year-old top manager announced this decision to the Chairman of the Supervisory Board, Lutz Feldmann. This marks the end of a term of office characterized by far-reaching strategic upheavals, geopolitical challenges, and ambitious sustainability goals.

May 20, 2025

Ex-Meinl Austrian Banker Peter Weinzierl in U.S. Pretrial Detention

The former CEO of the now-defunct Meinl Bank, Peter Weinzierl, is in custody in the United States. After years of investigations and complex extradition proceedings, the 59-year-old Austrian was transferred to a federal prison in Brooklyn, New York.

May 11, 2025

Joint European Police Raids on Benko in Austria, Italy, and Germany

In one of the largest cross-border raids in recent years, an international team of investigators has taken action against the imprisoned former real estate mogul René Benko and his Signa empire. Officials from Austria, Germany, and Italy simultaneously searched dozens of properties - including the Tyrol department store in Innsbruck, the Signa headquarters in Vienna's Palais Ferstel, and several warehouses and foundation offices.

May 7, 2025

Erste Group Expands into Poland: Takeover of Santander Bank Polska worth Billions

The Austrian Erste Group Bank AG has announced a step towards expansion in Central and Eastern Europe. The bank is acquiring a 49 percent stake in Santander Bank Polska for around EUR 6.8 billion and a 50 percent stake in asset manager Santander TFI for a further EUR 200 million. This transaction made Erste Group the third-largest bank in Poland and expanded its customer base in the region to around 23 million people.

May 5, 2025

Russian Court of Appeal Confirms Billion-Dollar Fine Against Raiffeisen Subsidiary

A Russian appeals court in St. Petersburg has confirmed the decision of a court of first instance, according to which the Russian subsidiary of Raiffeisen Bank International (RBI), AO Raiffeisenbank, must pay over two billion euros to the Cypriot company Rasperia Trading Limited. However, this could also mean two exemptions at the same time - and one of them in Austria.

April 24, 2025

ECB Cuts Key Interest Rate Again: Vienna Stock Exchange Reacts Cautiously

The European Central Bank (ECB) cut its key interest rate again, for the seventh time since June 2024. The deposit rate, a key reference value for banks and savers, was lowered by 0.25 percentage points to 2.25 percent. The measure had been expected, but its frequency and the tone of the ECB's communication make it clear that the situation is serious.

April 17, 2025

Austrian Securities Ownership Reaches New Heights

A recent survey reveals a significant increase in the number of Austrians investing in securities, highlighting a shift towards private pension planning amid economic challenges.

April 9, 2025

René Benko Remains in Pre-Trial Custody: Investigations Against Signa Founder Widen

The Regional Court for Criminal Matters in Vienna has extended the pre-trial detention of Austrian real estate entrepreneur René Benko by a further two months. The court cited the continuing danger of the offense as the reason for this.

April 7, 2025

Taxes Rising, Deficit Growing: Austria Faces EU Criminal Proceedings

Austria is threatened with EU deficit proceedings - at 4.7 percent of GDP, the budget deficit is well above the Maastricht limit. To counteract this, the federal government is taking the first noticeable steps - above all, tax increases on tobacco, betting, e-vehicles, and court fees. However, experts warn that the road to budget consolidation is rocky and politically explosive.

April 1, 2025

Signa Insolvency: Trustee in Bankruptcy Demands the Return of Gifts From Nathalie Benko

Real estate and trading mogul René Benko has been in custody in the Vienna-Josefstadt prison since January 24, 2025. Meanwhile, bankruptcy trustee Andreas Grabenweger is trying to shed light on the complex asset structures surrounding the Signa Group and uncover possible asset shifts.

March 24, 2025

Future of Benko Villa Igls Uncertain After All: City of Innsbruck Rejects Hotel Plans

The planned rededication of Villa Igls, once a renowned castle hotel and later the residence of the now-imprisoned real estate entrepreneur René Benko, has met with resistance from the city of Innsbruck. The Laura Private Foundation, whose sole benefactor is Benko's mother, was planning to use the building for tourism, but the city council has now clearly rejected these plans. At the same time, Benko remains in custody as the judiciary has made serious allegations against him.

March 12, 2025

Vienna Stock Exchange Reviews 2024 with Record-Breaking Developments and Strategic Initiatives

The year 2024 will go down in the history of the Vienna Stock Exchange as a year of upswing and trend-setting developments. After a rather subdued previous year, the Austrian capital market recorded impressive growth figures in several areas. Particularly noteworthy are the significant increase in share turnover, a new record for bond listings, and the implementation of strategic measures to further strengthen the Vienna Stock Exchange as an important financial center in Europe.

March 11, 2025

Austrian Leading Index Exceeds 10,000 Points for the First Time

The ATX Total Return, Austria’s leading index, reached a historic high, surpassing the 10,000-point mark for the first time and closing at 10,100.07 points.

March 10, 2025

Luxury Villa Becomes Wellness Hotel: Benko Family Leaves Estate in Igls

Following the insolvency of Signa and the imprisonment of company founder René Benko, his family is leaving the luxury villa in Igls. The property is to be converted into a wellness hotel. Meanwhile, a court ruling makes new headlines in the Benko case.

March 9, 2025

Vienna Plan 2035: Urban Development Without New Building Areas

The new Urban Development Plan 2035, known as the “Vienna Plan”, has been officially presented. It sets out the framework for the city's spatial development in the coming years and takes particular account of the forecast population growth. One decision in particular is surprising: No new large urban development areas are planned for the time being and the focus will be on sustainability and climate protection.

March 6, 2025

Austria's Real Estate Market Continues to Weaken: Hope for Recovery in 2025

Economic uncertainty, high interest rates, and strict lending guidelines also left their mark on the Austrian real estate market in 2024. While prices and transaction volumes fell in some federal states, Vienna recorded growth. Experts see opportunities for a recovery in the coming year.

March 5, 2025

Trump Appoints Real Estate Agent Arthur Graham Fisher as New US Ambassador to Austria

Before taking office, US President-elect Donald Trump announced the appointment of Arthur Graham Fisher as the new US ambassador to Austria. Fisher, a successful real estate agent from North Carolina, is primarily known for his work in the real estate industry and has no diplomatic experience. The appointment has therefore provoked mixed reactions.

March 3, 2025

Reclaiming Undisclosed Portfolio Commissions: Erste Bank and Sparkassen Reach Agreement with the VKI

Banks have collected so-called trailer fees when brokering fund products - without disclosing these payments to customers. However, according to the current legal situation, such “kick-back payments” are not permitted if they are not made transparent. After lengthy negotiations, the Association for Consumer Information (VKI) has now agreed with Erste Bank Österreich and the savings banks: Those affected can receive a refund.

February 25, 2025

Rise in Corporate Insolvencies in Austria Reaches New High

The tense economic situation led to a significant increase in corporate insolvencies in Austria in 2024. According to the latest data from Creditreform, around 6,700 company bankruptcies were recorded, an increase of 22% compared to the previous year.

February 24, 2025

Increase in Naturalizations in Austria in 2024

In 2024, Austria recorded a notable rise in naturalizations, with 21,891 individuals acquiring citizenship. This represents an increase of 9.8% compared to the previous year, reversing the decline observed in 2023.

February 19, 2025

German Election and AfD in the Wake of a Donation Scandal from Austria

The German parliamentary elections are approaching, and yet another donation scandal is rocking the Alternative for Germany (AfD). The focus is on millions of euros that are said to have flowed from Austria - in some cases in a questionable manner. While the Austrian authorities are investigating the suspicion of money laundering, the question arises as to what extent actors from the Alpine country are influencing the German election campaign.

February 19, 2025