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Vienna International Professional Services Industry News
Read the latest headlines about developments in the international service industry in Vienna and Austria
The Chamber of Commerce Switzerland-Austria-Liechtenstein Turns 100 Years Old
The Chamber of Commerce Switzerland-Austria-Liechtenstein or Handelskammer Schweiz-Österreich-Liechtenstein (HKSÖL) has supported economic relations between the countries for 100 years. They provide professional assistance to companies in these countries and Central and Eastern Europe. The HKSÖL has facilitated a particularly successful economic relationship between Austria and Switzerland. Read more about what the HKSÖL does and the Austro-Swiss economic relationship.
August 27, 2021
Austrian Business Agency: René Tritscher Succeeds René Siegl
René Tritscher has succeeded René Siegl as the new Managing Director of the Austrian Business Agency (ABA). Read about Mr. Tritscher's views on the future of the agency, as well as his previous experience working for ABA - WORK in AUSTRIA and the Austrian Economic League (Österreichischer Wirtschaftsbund).
August 24, 2021
The New Austrian Identity Card: Modern and Forgery-proof
Experts from the Austrian Ministry of the Interior, Federal Criminal Police Office, and Austrian State Printing House have developed a modern and more secure identity card. The release of the cards is accompanied by a new mobile phone app that allows users to verify the authenticity of the new cards.
August 6, 2021
Real Estate: Property Becoming Increasingly Expensive in Austria
Real Estate prices continue to rise in Austria despite the COVID-19 pandemic. While the property market is becoming increasingly expensive, rents in Vienna remain fairly affordable. Learn the new cost of buying property in Austria and how it compares with the rest of Europe.
August 5, 2021
Peace in Hard Times: Global Peace Photo Awards Ceremony
After canceling the event last year due to the COVID-19 pandemic, the Global Peace Photo Awards Ceremony 2020 was recently held in Baden. The Global Peace Photo Awards Ceremony 2021 will be held later this year. These awards honor the images that best capture the theme of peace each year. Read about the ceremony and who won the awards for 2020.
July 30, 2021
City of Vienna Offers Moderna Vaccine Without Registration
The City of Vienna is offering the Moderna vaccine without prior registration at the Austria Center Vienna (ACV) to help combat the COVID-19 pandemic. This marks the fourth vaccination campaign offered by the City of Vienna.
July 26, 2021
Digital Pandemic: Interior Ministry Warns About Fraudulent SMS
The Ministry of the Interior led by the Interior Minister, Karl Nehammer, is warning about fraudulent SMS circulating in Austria. The scam aims to trick people into installing malware on their mobile phones by providing a link to an alleged missed voicemail message. Learn how to protect your device and what to do if your device is infected.
July 26, 2021
What Is the Joint Vienna Institute and What Does It Do?
The Joint Vienna Institute (JVI) is a Vienna based International Organization which provides policy-oriented training primarily to public sector officials from countries in Central, Eastern and Southeastern Europe, the Caucasus and Central Asia, and other selected countries. It has been a hallmark of cooperation between the IMF and Austria for 29 years. Find out how the institute justifies its existence.
July 22, 2021
Building Permits in Vienna Reach Record Levels in 2021
In positive news for the construction industry, reports show that building permits in Vienna have reached record levels in the first quarter of 2021. They also show an interesting trend in Lower Austria.
July 16, 2021
City of Vienna and Vienna Business Agency Create New Business Immigration Office
The Vienna Business Agency and Vienna City Government have partnered to create the Business Immigration Office (BIO). The BIO will help streamline residence permit and immigration issues and offer help with integration for key personnel and highly skilled workers.
July 15, 2021
Arab Ambassadors in Vienna and Economic Relations between their Countries and Austria
The Ambassadors from Egypt, Iraq, Jordan, Morocco, Oman, Palestine, Qatar, Tunisia, and the UAE to Austria provided an economic overview of their countries and their relationship with Austria in an online forum with the Austro-Arab Chamber of Commerce (AACC).
July 11, 2021
Handy-Signatur in Austria: What It Is and How to Get It
The Handy-Signatur is an important tool to have in Austria. It is useful for accessing many online portals, including health insurance and the new Green Pass for proof of COVID-19 vaccination. Learn more about it.
July 8, 2021
Austrian Residential Property Market: Prices Continue to Rise
The real estate market in Austria continues to boom. Last year again surpassed the record set the year before, with both sales and the value of properties sold continuing to rise in 2020 compared with 2019. The most expensive district outside Vienna remains Kitzbühel in Tyrol. Housing prices in a five-year comparison: Austria: +26%, Vienna: +21%, Burgenland: +47%, Vorarlberg: +45%, Carinthia: +18%. Find out how the Austrian real estate market works.
April 28, 2021
Dubai Expo: Which Austrian Companies Will Benefit from the Exhibition in the UAE?
Expo 2020 Dubai, which will take place in the United Arab Emirates from October 1, 2021 to March 31, 2022, is advertised above all as an opportunity for "Austrian companies to make a lasting impression with their innovative strength and creativity". The fact is that so far apparently only a handful of construction and design-related companies directly involved in the development of the Austrian pavilion financed by Austria are benefiting from the project. Which Austrian companies are involved in the project, you will find out in the following.
April 27, 2021
New York Architecture Firm to Design New Central European University Campus in Vienna
CEU has commissioned the U.S. architectural firm Kohn Pedersen Fox Associates (KPF) to renovate and develop those Otto Wagner-designed pavilions that will form the future CEU campus. KPF President James von Klemperer is an Austrian citizen. The final site of the Central European University at the Otto Wagner site is scheduled to open in 2025.
April 13, 2021
Two of Austrian Biggest Commercial Real Estate Companies Could Turn to One
The Austrian commercial real estate company Immofinanz AG has decided to make a voluntary public takeover offer for the s Immo AG. The two companies have considered a merger in the past, but the intentions never succeeded. Whether or not the public takeover offer will be going through this time depends on the General Meeting of s Immo and antitrust approvals.
March 18, 2021
Vienna Stock Exchange: New Calculation Technology Increases Quality
The Vienna Stock Exchange (Wiener Börse AG) has implemented a new index calculation technology, called "Vienna Index Engine" (VIE). The new software will allow even higher processing speed and stability for indices available on the exchange, which will also benefit more than 140 global financial institutions that rely on the indices of the stock exchange.
February 9, 2021
Microsoft Investment in Cloud Data Center Adds €2 Billion in Value for Austria
The data center for Austria, which Microsoft announced last fall as a milestone, is taking concrete shape. Microsoft has acquired operational building land for this purpose. The data center ecosystem is expected to include more than 4,000 local partners and cloud-using customers. It also announced investments in a new Center of Digital Excellence and skills training for up to 120,000 Austrians by 2024.
February 5, 2021
Vienna Stock Exchange: Herrmann Joins Boschan and Koblic on the Management Board
The Vienna Stock Exchange (Wiener Börse AG) has announced that its Supervisory Board has decided to appoint Andrea Herrmann as a third member of the Management Board (CFO).
February 4, 2021
"Ronaldo of Investment Banking" Becomes New CEO of Bank Austria Parent Company
The Board of Directors of UniCredit SpA, which owns 96.35% of Bank Austria, unanimously nominated "deal junkie" Andrea Orcel as designated CEO to replace the outgoing CEO, Jean Pierre Mustier.
January 31, 2021
Influential OPEC Fund Celebrates 45th Anniversary
The Vienna-based OPEC Fund for International Development marks its 45th anniversary today. Since inception in 1976 by the Member States of OPEC, the multilateral development finance institution has approved more than US$25 billion in essential financing for 135 partner countries.
January 28, 2021
Austria's Real Estate: Single-Family Houses Expensive, Offices Cheap
Also as a result of the Covid-19 crisis, living spaces with a garden, a balcony or a terrace see a significant increase in demand, while office spaces and other commercial real estate loses value. Another new aspect of the real estate market in Austria is the rise in demand for single-family houses in the outskirts of bigger cities.
January 5, 2021
EIB Group Cooperates with Hypo Vorarlberg
The European Investment Bank (EIB) has decided to support Austria's economy by unlocking part of Hypo Vorarlberg's regulatory capital. These funds will be used to invest in energy efficiency projects which are directly in line with the EIB's commitment to increasing its climate action lending.
December 1, 2020
Further Increase of Investment Subsidy
The Austrian government has decided to increase its budget for investment subsidies. The high demand for this subsidy by companies located in Austria has exceeded the expectations of the government and is therefore adjusted upwards by another EUR 1 billion in order to further promote investments into digitalization, sustainability and other sectors.
November 30, 2020
Increase of Budget for Investment Subsidies to EUR 2 Billion
The Austrian Government has announced a budget increase for investment subsidies. A high demand and investment volume in the first three weeks of the application period has lead to this decision that is welcomed by the Federal Chamber of Commerce.
September 23, 2020
Foreign Trade Has Partially Recovered from Crisis
According to the latest report from Statistics Austria, imports and exports are only slightly behind last year's number indicating an upwards trend after Covid-19 has impacted foreign trade significantly.
September 8, 2020
WKO Secretary General: Labor Market Situation Improves, But Remains Great Challenge
The secretary general of Austria's Federal Chamber of Commerce WKO recognizes a slightly positive trend in the labor market but underlines the importance of ongoing and future economic measures.
September 7, 2020
Austrian Technology Company Kapsch Will Cut Around 400 Jobs
Vienna-based company Kapsch is likely to cut about 400 jobs globally in the near future. The company has commenced a transformation program that will allow it to be successful in the future.
September 3, 2020
Economic Sentiment in Austria and the EU Brightened Further in August
Businesses and the population of the EU still have below-average economic sentiment although the expectations improved over the last month. The sharp decline due to Covid-19 is made up by about 60 % already.
August 31, 2020
Austrian Real Estate Companies with Devaluations in Central and Eastern Europe
Austrian real estate companies CA Immo and s-Immo felt the pressure of the Covid-19 crisis and had to face significant revaluations of their properties in Austria, Germany and Central Eastern Europe.
August 25, 2020
Financial Assets of Austrians Back at Record Level After Slump
Austrians have never been richer than today. Private financial assets have recovered and improved after a significant decline in the first quarter of 2020 due to Covid-19.
August 25, 2020
Vienna's Mayor Michael Ludwig Met German Vice Chancellor and Minister of Finance Olaf Scholz
Mayor Michael Ludwig and German Vice Chancellor Olaf Scholz met for a working meeting in Vienna. Discussions were held about economic relations and municipal topics such as affordable housing.
August 25, 2020
President Van der Bellen at the Salzburg Festival: "Artists Need All Our Support"
Federal President Alexander Van der Bellen invited his German counterpart Frank-Walter Steinmeier accompanied by Elke Büdenbender to a festival and working visit in Salzburg. Both presidents agreed on the fact that artists are in a very difficult situation at the moment and need to be supported.
August 24, 2020
Vienna Based UNIDO Holds Expert Panel to Discuss Developments in Industry and Society
The United Nations Industrial Development Organization hosted an expert panel about the future of industry and society. Main topics were the advancement of attaining the sustainable development goals and shaping society as a whole.
August 21, 2020
Statistics Austria: Inflation Has Risen to 1.7% in July 2020
According to latest reports, inflation in Austria has risen from 1.1% in June to 1.7% in July 2020. The pricing of clothing was the main driving force.
August 19, 2020
ABA - Invest in Austria: 270 Attendees at Austrian Business Agency Event
According to "ABA - Invest in Austria: Austrian Business Agency", 270 companies interested in investing in Austria took part in the first virtual open day to learn about new business models and general conditions for foreign companies in Austria during and after the Corona crisis.
June 25, 2020
New Chief Financial Officer at Allianz Group Austria
German-born Anne Thiel (49) is to take over as CFO of Allianz Group Austria on September 1, 2020. She succeeds Eva Meyer-Schipflinger, who will take over a global management position at Allianz SE in Munich.
May 30, 2020
Properties for Development in Austria: Location, Location, Location
Property prices in Austria (average property prices and house price index) continued to show high price dynamics last year. The current average prices for plots, houses and apartments for development can be found below.
May 30, 2020
COVID-19 Drug Made in Austria
Austrian biotech company Apeiron Biologics AG, which is currently working on a drug to treat the coronavirus, announces financing round for the further development of the COVID-19 drug APN01.
May 19, 2020
Austria Agrees to ESM Pandemic Crisis Support
The National Council has given its approval for financial aid within the framework of the ESM. Specifically, Finance Minister Blümel was authorized to approve a decision in the ESM Board of Governors to grant corona financial aid to all applicant ESM member states within the framework of the ESM Pandemic Crisis Support.
May 14, 2020
Tax Consultants and Auditors: Corona Aid Fund for Fee Losses Threatening their Existence
The Austrian Chamber of Tax Consultants and Auditors (KSW), which represents 8,000 Austrian tax consultants and auditors, is setting up a 2 million euro aid package.
May 12, 2020
Financier Ronny Pecik Appointed Chief Executive Officer of Immofinanz
Croatian-Austrian star investor and largest single investor becomes CEO of commercial real estate group Immofinanz AG.
April 23, 2020
Law Firm Wolf Theiss: Update on the Corona Virus Tests
The complete results of Wolf Theiss' corona virus testing of the employees in Vienna are now available: 3 employees positive, 293 employees negative.
March 4, 2020
Coronavirus: Vienna Law Firm Tests Three Employees Positive
The renowned law firm Wolf Theiss announces that three of more than 280 examined employees have become infected with the coronavirus.
March 3, 2020 · Updated: March 4, 2020; 19:10
Patrick Zehetmayr Appointed Boss of Erste Group's Commercial Real Estate Activities
The Salzburg native, who has almost 30 years of experience in banking and real estate business with Erste Group, was chosen to lead Erste's commercial real estate coverage and financing.
February 19, 2020
Digital Tax: Google Charges Customers
The search engine operator Google wants to collect the new digital tax, which has been levied in Austria since January on income from online advertising by international corporations, in its entirety from its advertising customers.
January 31, 2020
Another Electric Rental Scooter Has Arrived in Vienna
"Emmy", a Berlin-based start-up and electric scooter sharing company is rolling into Austria. The scooters are now also available for short-term rental in Vienna in addition to major German cities. Further Austrian cities are to follow.
November 15, 2019
Buy Local - Invest Global: How to Invest Your Money on the Vienna Stock Exchange
Expats in Austria now have access to over 680 internationally sought-after securities from 26 countries at local conditions.
October 25, 2019
City of Vienna Battles Airbnb & Co
Shortly before the new European Commission takes up its tasks, the City of Vienna is launching a new Europe-wide offensive to finally achieve clear rules for digital platforms such as Airbnb & Co.
October 22, 2019
Vienna Just an Emergency Solution: What's the Future for the Central European University?
About a year after it was driven out of Hungary by Viktor Orban, the CEU has started its provisional operation in Vienna-Favoriten. Two new Master programmes in Business Administration and International Public Affairs were launched simultaneously. Within 5 to 6 years, the Vienna campus is to move to Baumgartner Höhe. But the CEU will never abandon Budapest as a location.
October 9, 2019
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