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Switzerland in Austria | Swiss in Vienna | Bilateral Relations

Cost of Living Rankings: CEE Capitals Cheaper, Vienna is 32nd Most Expensive City

The Mercer's 2014 Cost of Living Rankings have been published and cover 211 cities across five continents. While Western European cities have all risen in the rankings mainly due to the strengthening of the Euro against the US dollar, most cities in Central and Eastern Europe (CEE), however have fallen in the ranking as a result of local currencies depreciating against the US dollar. Bratislava (#84), Prague (#92), Kiev (#98), Ljubljana (#116), Zagreb (#120), Budapest (#135), Warsaw (#142), Belgrade (#184).

July 25, 2014

FDI in Austria up by EUR 25 Million

In the first half of 2014 the number of international companies setting up business operations in Austria with the assistance of ABA in cooperation with the regional investment promotion agencies climbed from 88 to 114. Total investment volume was up 15.9 % in the first half of 2014 to EUR 179.97 million from EUR 154.33 million in the prior year period.

July 11, 2014

Analysis: The South Stream Gas Pipeline

Due to the signing of the South Stream agreement between OMV and Gazprom for the Austrian part of the pipeline during Putin's visit to Vienna, we take a look at the background of the project.

June 25, 2014

Switzerland: IMD Releases the World Competitiveness Yearbook Ranking 2014

The US leads, Europe recovers, and big emerging markets struggle.

May 22, 2014

Exporttag: Meet All Austrian Trade Delegates at the Export Day 2014

On June 24, the Export Day (Exporttag) of the Austrian Chamber of Commerce (WKO) will take place in Vienna. Economic delegates from all over the world will be present.

May 20, 2014

Helvetia Takes Over Basler in Austria for EUR 130 Million

Helvetia takes over Basler Versicherungen in Austria for EUR 130 million, thereby becoming one of the Top 10 Austrian insurance companies.

May 16, 2014

Swiss Telecoms Services Provider TalkEasy to Enter the Austrian Market

TalkEasy aims to target the unhappy customers of Telekom Austria, which recently raised its tariffs substantially.

May 12, 2014

Hypo Group: Shady Deals with Balkan Diplomats

The Austrian problem bank Hypo Group has troubles recovering debts.

May 3, 2014

Situation for Austrian Banks in Russia is “Sensitive”

According to the latest statistics, Austrian banks are considerably more engaged in Russia than assumed so far. Debts to domestic financial institutes amount to € 50bn.

April 29, 2014

Austrians Cautiously Observant

Despite economic recovery the Austrian citizens are still cautiously observant.

April 22, 2014

Austria: Hypo Group’s Investigation Committee Ready for Action

The group of foreign experts at the investigation commission for Hypo Group Alpe Adria is supposed to guarantee the required objectivity. The first results are expected to be published at the end of the year.

April 10, 2014

Austria: Economic Recovery Remains Modest

Political clouds over economic recovery.

April 1, 2014

Austria: State Revenues Increased

In 2013 the Austrian budget deficit came at 1.5 percent of GDP wile public debts increased to 74.5 percent of GDP.

March 31, 2014

Final Time-Out for Austrian Bank Secret

During the EU Summit the final time-out for the Austrian bank secret for foreigners was decided. Both Austria and Luxembourg agreed to give up their banking secrets.

March 21, 2014

Austria: Reform Steps Very Modest

Austria, along with Germany and Switzerland, hardly put any economic reforms into realization. This is the conclusion of the annual “reform barometer” for the three countries.

March 20, 2014

Austrian Bank Secrecy to be Abolished by 2016

EU Commissioner Algirdas Semeta recently stated that bank secrecy in Austria will expire since by then the automatic exchange of information will be implemented as a standard.

February 24, 2014

Vienna: City with Highest Quality in Life

Just like last year Vienna is on top of the list of the major cities with the highest life quality. Baghdad ranks last in the survey carried out by Mercer.

February 19, 2014

Hypo Disaster: Who Are the Beneficiaries?

International investment companies, funds and domestic banks are the major recipients of the billions of Euros in the Hypo Group disaster.

February 19, 2014

Austria Most Popular Country among Hungarians

93 percent of Hungarians feel compassion towards Austria.

February 19, 2014

Threat of Bankruptcy: Moody´s Cuts Hypo Group Alpe Adria´s Rating

The U.S. rating agency downgrades the rating of the Austrian nationalized lender by four notches. Moody´s referred to the uncertainty and the vague statements of the Austrian government.

February 15, 2014 · Updated: February 15, 2014; 18:47

Spindelegger Insists on Austrian Bank Secret

On Friday the Finance Ministry confirmed to the Austrian Press Agency (APA) that there is “momentum in the field” in regard to disclosure of information about bank accounts of foreigners.

February 10, 2014

Hypo Group Alpe Adria: Bankruptcy Would Affect Foreign Investors

In case of an unorderly insolvency of the Austrian nationalized lender, not only Austrian creditors would have to absorb losses. The majority of the bondholders are German and Swiss investors.

February 6, 2014

Bank Austria Generates Fresh Capital

On Monday, January 13, UniCredit Bank Austria issued its first mortgage bond for 2014 to strengthen its capital base.

January 14, 2014

Slovenia: FDI to Remain Low in 2014

No improvement in increasing foreign direct investments in Slovenia is expected this year. The country has one of the smallest shares in inward FDI among EU member countries.

January 2, 2014

Hypo Group: Restraining Effect on Budget Consolidation

According to the EU’s autumn prognosis, nationalized Hypo Group and its liabilities running in the billions still have a restraining effect on the Austrian budget consolidation.

November 5, 2013

Boost for Municipal Infrastructure in the Western Balkans

EBRD and KfW launch new €100 million fund

November 4, 2013

World Economic Forum Annual Meeting 2014

Davos-Klosters, Switzerland 22-25 January. The Reshaping of the World: Consequences for Society, Politics and Business

October 29, 2013

Uniqa to Aquire Western Balkan Insurance Companies

Listed insurance company Uniqa will take over Croatian and Serbian affiliates of Swiss insurance group Baloise (Basler) to strengthen its market position in the Western Balkan states.

October 22, 2013

Austria Remains Main Investor in Slovenia

Last year, almost the half of the foreign direct investments in Slovenia came from Austria.

October 11, 2013

WKO: Austrian Enterprises Miss out on Potential in Turkey

According to a commercial councelor at the Austrian Chamber of Commerce (WKO) in Istanbul, Austria is focused too much on Eastern Europe. Switzerland exports triple the amount to Turkey.

September 19, 2013

Austria: WKO Demands Impulses for R&D

Deputy President of the Austrian Chamber of Commerce (WKO), Martha Schultz, demands new impluses for research and innovation in the years from 2014 to 2020.

September 19, 2013

Wifo: Economy Remains Competitive Despite High Wages

Head of Wifo (Austrian Institute for Economic Research), Karl Aiginger, calls for a change of views in economic policy as competitiveness is more than just low costs.

September 18, 2013

Kapsch: Enormous Problems at Austrian Business Location

President of Federation of Austrian Industries (IV) Georg Kapsch confirms the criticism voiced by President of the Austrian Chamber of Commerce (WKO) Christoph Leitl and several other politicians by the Austrian People’s Party (ÖVP).

August 28, 2013

Austrian Economy Minister: “No Time for Idle Complacency”

Austrian Minister of Economics and former general secretary of the Austrian Chamber of Commerce (WKO), Reinhold Mitterlehner avoids any dispute with Christoph Leitl, President of WKO but signals a different opinion.

August 27, 2013

Austria: Leitl Reiterates Criticizm

State Secretary Schieder considers Leitl’s statements “totally out of place”.

August 23, 2013

Leitl: “Austria Screwed Up”

If the US, as the perpetrator of the financial and economic crisis, shows two percent in economic growth, while Austria only 0.2 percent, then this was a “disgrace”, Leitl announced during the economic forum in Alpbach.

August 21, 2013

Austria: First Tax Tranche from Switzerland Transferred

The first tranche of the tax agreement between Austria and Switzerland in the amount of € 416.7m was transferred. Fekter considers it “a great success for Austria and the taxpayers”.

July 25, 2013

EU: Current Account with Russia Deep in the Red

EU27 current account surplus came at € 29.1 bn in the first quarter of 2013.

July 18, 2013

Leitl: „Austrian Enterprises Need Further Growth Impulses“

The Austrian Chamber of Commerce (WKO) commits to budget consolidation but growth is the basis for a balanced state budget.

June 27, 2013

Bankruptcy Case Mayr-Melnhof in Switzerland

In Domat/Ems, Switzerland’s biggest sawmill was supposed to be operated. The only thing left now, however, is a financial hole running in the millions. Erste Group is concerned by losses as well.

June 17, 2013

Major Contract for Andritz in Switzerland

Andritz to modernize Innertkirchen 1 and Handeck 2 hydropower stations, Switzerland

June 11, 2013

WKO Export Day in Vienna

On June 20, the Export Day (Exporttag) of the Austrian Chamber of Commerce (WKO) will take place in Vienna. Economic delegates from all over the world will be present.

June 8, 2013

Leitl: „There Is No More Time To Waste“

Switzerland and Sweden pull away from the rest of the European countries in regard to international competitiveness, according to the latest IMD report, while Austria has been falling behind.

May 31, 2013

World Competitive Ranking: Austria Loses 7 Ranks

The World Competitive Ranking of Lausanne IMD Private School of Economics has become one of the most significant location comparisons on an international basis in the last 25 years.

May 29, 2013

Austrian Top Banker to Appear in „Offshore-Leaks“

For the first time, a European top banker appears in the “Offshore-Leaks” database. CEO of Raiffeisen Bank International (RBI) Herbert Stepic is coming under massive pressure.

May 23, 2013

Leitl: „EU Has To Deliver Clear Confession to Business Location Europe”

According to Leitl, the EU Summit has to deliver a “clear confession to business and industrial location” Europe.

May 22, 2013

Banking Secret until 2015 in European Union

The banking secret for tax foreigners in the European Union could finally be completely aborted by 2015. There is an ambiguity about Luxembourg’s position in advance to the EU mini-summit over the extended EU Savings Directive (EUSD).

May 22, 2013

World Economic Forum on East Asia 2013

Courageous transformation for inclusion and integration. Nay Pyi Taw, Myanmar, 5-7 June 2013.

May 21, 2013

Orban’s „Derailment“ Causes Indignation in Germany

Hungary’s head of government Viktor Orban seems to love the confrontation. However, with the accusation of Germany using Nazi-methods he overstepped the mark in terms of tact.

May 21, 2013

Austria to Give Up Bank Secret for Foreigners

After years of blocking, Austrian Finance Minister Maria Fekter gave green light to the abandoning of the bank secret for foreigners.

May 14, 2013
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