Vienna International Professional Services Industry News

"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

Conference Metropolis Vienna on the Rise

With more than 4,500 events, 631,000 participants and 1.9 million overnight stays per year, Vienna is one of the world's most popular meeting metropolises and sets new records year after year. Last year was a highly successful year, as conferences in the metropolis of Vienna have never brought so much added value as in 2018.

September 23, 2019

New Meinl Bank to Pay 36 Million Euro to Damaged European Land Investors

The legal successor to Meinl-Bank, AAB Anglo Austrian Bank AG, will pay around EUR 36 million to settle the claims of the remaining investor proceedings of approx. 4,000 investors of the former MEL Meinl European Land. Simultaneously, AAB starts a repositioning in which the credit business and the payment transactions are to be reduced, while the advisory business and investment banking are to be focused on.

August 27, 2019

RBI: Significant Decline in Profits in the First Half of 2019

Stock Exchange-listed RBI Raiffeisen Bank International recorded a significant 25% decline in profits in the first half of 2019. The consolidated profit generated was only €571 million, compared to €756 million in the first half of 2018.

August 8, 2019

International Congress Guests Love Vienna

Vienna is the second most important destination for international congresses after Paris. The Austria Center Vienna profits from this in a unique way and last year brought about 116,000 international visitors to Vienna inducing an economic impact of half a billion euros.

July 29, 2019

Central European University Accredited as Private University in Vienna

The Austrian accreditation procedure for the CEU Central European University was successfully completed, so that the university can now start its operations in Vienna. Until now, the university was accredited in the USA and Hungary, the teaching took place exclusively in Hungary.

July 12, 2019

Meinl Bank Rebranding - Anglo Austrian Bank Launches with Negative Result of EUR 4.5 Mio

As part of a rebranding, Meinl Bank of Julius Meinl V (59) has renamed itself Anglo Austrian Bank and is relaunching its operations in Vienna with 49 employees in order to respond to the increased demand for qualified asset management in the countries of the former Danube Monarchy and to provide clients with a bridge to the countries and financial markets of Western Europe.

June 28, 2019

So What Does the Future Hold for the Eurozone?

The Eurozone between crisis and reform. At the Austrian Academy of Sciences, the renowned European financial experts Agnès Bénassy-Quéré, Klaus Regling, Elke König and Josef Zechner discussed the structure, challenges and necessary financial market reforms within the euro zone.

June 28, 2019

Largest Chinese Bank Opened Branch Office in Vienna

China's largest bank, ICBC - Industrial and Commercial Bank of China was officially commenced for business in Vienna. Mr. Li Zhanshu, Chairman of the Standing Committee of the National People's Congress, who was on an official visit in Austria attended the opening ceremony of ICBC Austria Bank GmbH (ICBC Austria).

May 28, 2019

How Austria Shapes its Future with Artificial Intelligence

Austria's Government is currently working together with the consulting firm Accenture on an Austrian Artificial Intelligence (AI) strategy, which is to be finalised by summer 2019. A study shows that a 3 percent economic growth is possible. That much is already known.

May 3, 2019

WeWork Cooperation to Facilitate Internationalization of Austrian Start-ups in the USA

The aim of the cooperation between shared workspace provider WeWork and AWS - Austria Wirtschaftsservice is to support innovative Austrian start-ups in their internationalisation in New York and on the US market.

April 26, 2019

Mobile Bank N26 Invests in Tech Centre in Vienna

Germany's mobile bank N26 plans to hire more than 300 software engineers, product managers and IT specialists in Vienna in the long term and up to 100 in the medium term. The office is scheduled to open in autumn 2019, and specialists will be recruited with immediate effect.

April 26, 2019

Sberbank Europe Generates Net Profit of EUR 34 Million

Vienna based Sberbank Europe looks back at its best annual result since the acquisition of Austrian Volksbank International in 2012.

April 11, 2019

Congress Tourism in Vienna Continues to Boom

Vienna as a congress destination is booming. Last year, the metropolis achieved record figures for conference participants and added value. Around 631,000 participants (plus three percent) attended 4,685 congresses and company events (plus 15 percent), which resulted in 1,925,000 overnight stays (plus three percent). A single congress participant spends 541 euros per day.

April 5, 2019

Vienna Stock Exchange: High Dependence on UK Traders

In 2018, around 60% of the equity turnover on the Vienna Stock Exchange came from UK trading participants. Hence equity turnover declined by 16.3% compared to the previous year. The most active stocks were Erste Group, OMV and Voestalpine. The SME segment "direct market plus" started with 8 companies, including 4 new listings.

April 3, 2019

International Financial Institutions World Bank Group and IMF Expand Presence in Austria

Important success for Austria's business location policy. According to media reports, the IMF International Monetary Fund will move to Vienna in June, while the World Bank Group will double the staff and size of its Vienna office.

March 29, 2019

Vienna-Campus of Central European University to be Temporarily Set Up in Southern Vienna

The CEU Central European University of George Soros announces that it has opted for an interim location in Vienna's Favoriten, the "heart of the multicultural 10th district". This campus is scheduled to start operations in autumn 2019. By 2023, the university will be moved as planned to the premises of the Otto Wagner Hospital on Baumgartner Höhe in Vienna's 14th municipal district.

March 22, 2019

Viennese Merchants' Guild Prepares for Chinese Century

Something is happening in the Viennese school system. The VBS Vienna Business School will offer its students the opportunity to learn Chinese (Mandarin) at all six school locations from autumn onwards and to take advantage of an extensive range of Chinese language and culture courses.

March 18, 2019

Is Benko's Chrysler Deal in the Big Apple a Bargain?

The New York property firm RFR Holding LLC of German-American Aby J. Rosen, together with Signa Holding of Tyrolean real estate investor Rene Benko, is buying the traditional Chrysler Building in New York City for around 150 million dollars. The land is not part of the deal and the rent amounted to USD 32.5 million in 2018 and will continue to rise to USD 41 million a year by 2028.

March 11, 2019

Benko-Hyatt Project - New Luxury Lifestyle Hotel Opens in Vienna in April 2019

The first Andaz Hotel in Austria, the boutique hotel "Andaz Vienna Am Belvedere" at the new Vienna Central Station, opposite the 21er Haus and the Schweizergarten, next to the park apartments at the Belvedere, is to be opened on 17 April 2019. It is the second project and a 50:50 joint venture between René Benko's Signa Group and Andaz Hotels, an affiliate of Hyatt Hotels Corporation.

March 1, 2019 · Sponsored Content