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Orbán's Controversial Visit to Vienna: Talks, Alliances and Criticism
Hungarian Prime Minister Viktor Orbán's visit to Vienna caused a stir across Europe and highlighted the ideological tensions within the EU. His meetings with FPÖ representatives and the discussions about the war in Ukraine and the future of Europe divided opinion between supporters of national sovereignty and advocates of European integration.
Yesterday
OPEC+ Extends Oil Production Cuts by One Month
OPEC+ has decided to extend the voluntary production cuts since November 2023 by 2.2 million barrels per day until the end of December 2024.
Yesterday
Austria's Wooden Ribbon: A Symbol of Innovation for the Expo 2025
Austria is preparing for Expo 2025 in Osaka and recently presented the centerpiece of its pavilion in Lower Austria: a spiral-shaped wooden loop that symbolizes the motto “Composing the Future”. This impressive sculpture stands for Austrian craftsmanship and the strong connection to Japan, which is to be further strengthened by the Expo.
October 31, 2024
Anti-Semitism in Austria: IKG Records Dramatic Increase in Anti-Semitic Incidents
The Jewish Community Vienna (IKG) warns of a worrying increase in anti-Semitic incidents in Austria. In the first half of 2024, the IKG's anti-Semitism reporting office registered a total of 808 anti-Semitic attacks and threats - an increase of around 160 percent compared to the previous year.
October 30, 2024
Raiffeisen Bank International: Consolidated Profit Excluding Belarus, Russia at 856 Million Euros
Raiffeisen Bank International AG (RBI) is successfully continuing its strategy of reducing risks in challenging markets and was able to present a solid performance for the first nine months of this year despite the withdrawal from Russia and Belarus. Adjusted consolidated profit, which was calculated without contributions from these two countries, amounted to EUR 856 million. RBI thus remains stable, while at the same time implementing its withdrawal plan from the Russian business.
October 29, 2024
Moldova and the UAE Launch Space Technology Projects with UNOOSA and MBRSC
In a major international collaboration, the United Nations Office for Outer Space Affairs (UNOOSA) and the Mohammed Bin Rashid Space Centre (MBRSC) announced the winners of the second round of the Payload Hosting Initiative (PHI): the Technical University of Moldova (TUM) and the start-up Madari Space Limited from the United Arab Emirates (UAE).
October 29, 2024
OPEC Fund Intensifies Global Development Cooperation with New Financing Commitments
The OPEC Fund for International Development has announced significant financing commitments of around half a billion US dollars at the 2024 World Bank-IMF Annual Meetings to support climate action, food security, and infrastructure in various partner countries.
October 28, 2024
AUA Flights to Tel Aviv and Tehran Remain Suspended Due to Escalating Tensions
Austrian Airlines (AUA) is extending the suspension of flights to Tel Aviv and Tehran due to the uncertain situation in the Middle East. Connections to the Israeli coastal city of Tel Aviv are expected to remain suspended until November 25, while flights to Tehran will be canceled until the end of November.
October 28, 2024
Maria Todorova and Balkan Research: “Mission Possible” in Vienna
Renowned historian Maria Todorova held a series of lectures in Vienna entitled “The Balkans: Mission Possible”, in which she presented new perspectives on the complex history and culture of the Balkans. The lectures, part of the IWM Lectures in Human Sciences, challenged common stereotypes and highlighted the region as a dynamic and culturally rich area.
October 27, 2024
Georgian Parliamentary Elections Characterized by Unevenness and Tension
Widespread tensions, political polarization, and numerous concerns about fairness marked the recent parliamentary elections in Georgia. While voters had a choice of 18 parties and lists, international election observers, including the OSCE and the Council of Europe, criticized the conditions as unequal and prone to manipulation. In particular, the controversial Foreign Influence Transparency Act, introduced shortly before the elections, exacerbated the conflict and significantly impaired the independence of civil society.
October 27, 2024
Austria in Pursuit of Compromises for the Next Government
After the 2024 National Council elections, exploratory talks between the ÖVP and SPÖ will now begin to pave the way for a new government in Austria. Federal President Alexander Van der Bellen has tasked ÖVP leader Karl Nehammer with forming a government, even though the FPÖ under Herbert Kickl received the most votes. This decision led to criticism from the FPÖ, which continues to see itself as an important player in the political process.
October 24, 2024
Magnus Brunner Pleads for Schengen Accession of Bulgaria and Romania
In a published document, the designated EU Commissioner for Migration, Magnus Brunner, has spoken out clearly in favor of Bulgaria and Romania's full admission to the Schengen area. Brunner emphasized that both countries meet all the necessary conditions for accession and called for the EU Council to abolish the remaining border controls.
October 24, 2024
Insolvency of Viennese Real Estate Developer Lukas Neugebauer and his LNR Group
Another Austrian real estate company has been hit by insolvency. Bankruptcy proceedings have now been opened at the Vienna Commercial Court over the assets of Viennese real estate developer Lukas Neugebauer and his LNR Group. The bankruptcy affects both B&R Generalunternehmer GmbH and LNR Development GmbH, two central companies in Neugebauer's real estate conglomerate. The insolvency affects 32 creditors who have claims totaling 94 million euros. The creditors have until December 30, 2024, to assert their claims.
October 23, 2024
Austria's State Security: Increasing Threat of Terrorism in Europe Since the Hamas Attack
In the last twelve months, the threat of planned terrorist attacks in Europe has increased significantly. The Directorate of State Security and Intelligence (DSN) reported a fivefold increase in the number of detected attack plans since 7 October 2023, when the Islamist terrorist organization Hamas launched a large-scale attack on Israel. This development underlines the increasing security threat in Europe, particularly concerning geopolitical tensions.
October 23, 2024
Discussion on the Sobieski Monument in Vienna Continues
The discussion about a monument to King Jan III Sobieski in Vienna has picked up speed again. Since 2013, there have been calls for a monument to be erected on the Kahlenberg to the Polish king, who played a key role in saving Vienna from the Ottoman siege in 1683. Despite the failure of these efforts to date, in September 2024 the Polish embassy once again appealed to the relevant authorities to pay due tribute to this important chapter in European history.
October 21, 2024
Record Number of Company Bankruptcies in Vienna Burdens Economy and Labor Market
In Vienna, more than 1,100 companies filed for insolvency between January and September 2024, with the real estate sector particularly hard hit. This development contributes to rising unemployment, which has increased by 8.8% compared to the previous year. Experts blame the rise in the poor global economic situation, high inflation, and increased energy and rental costs. The increase is particularly worrying for retail and service companies, as shown by the example of Pepco, which has affected over 600 employees.
October 21, 2024
Austria Strengthens Partnership With Yad Vashem in the Fight Against Anti-Semitism
Dani Dayan, Chairman of the Jerusalem Holocaust Memorial Yad Vashem, visited Vienna to strengthen the close partnership between Israel and Austria. Dayan met with both Federal President Alexander Van der Bellen and Federal Chancellor Karl Nehammer. Both emphasized the importance of continued cooperation in the fight against anti-Semitism and in preserving the memory of the Shoah.
October 20, 2024
Inflation in Austria at its Lowest Level Since 2021
Inflation in Austria fell to 1.8 percent in September compared to the same month last year. This was the lowest figure for a good three and a half years, according to Statistics Austria.
October 19, 2024
ÖBB Increases Ticket Prices by 4.9 Percent
ÖBB announced that prices for standard tickets will increase by an average of 4.9 percent from December 15, 2024, in parallel with the winter timetable. This is the first price increase in 18 months. However, numerous tickets, including the popular Sparschiene tickets and seat reservations, will remain unaffected by the price adjustment.
October 17, 2024
FPÖ Election Victory Causes Unease in Western Intelligence Agencies
The FPÖ's election victory in Austria is causing concern among Western intelligence services. Experts fear restrictions in international cooperation due to previous security gaps in the Austrian Office for the Protection of the Constitution and the FPÖ's proximity to Russia. In particular, the exchange of sensitive information could be affected if the FPÖ is in government.
October 17, 2024
Austrian Defence Minister Tanner and European Consensus on Continuation of UNIFIL Mission in Lebanon
The UNIFIL mission in Lebanon, which has been in operation since 1978, is to continue despite increasing attacks. The European troop contributors reaffirm their support to ensure stability and humanitarian aid.
October 16, 2024
Austrian Financial Market Authority Orders Forced Closure of Euram Bank
The Financial Market Authority (FMA) has withdrawn the business license of European American Investment Bank AG (Euram) in Vienna with immediate effect. This follows an extraordinary general meeting at which the bank failed to present a plausible plan for an orderly self-resolution. The bank should have either decided on a capital increase of 25 million euros or presented a credible liquidation strategy.
October 16, 2024
Stalemate after National Council Elections: Van der Bellen Calls for Revived Talks
Following the national elections in Austria, the country finds itself in a political impasse. President Alexander Van der Bellen declared in a speech that he would not give any party the task of forming a government at present due to the stalemate that has arisen. The FPÖ, which emerged from the election as the strongest force with 28.8%, is currently unable to find a coalition partner, as both the ÖVP and the other parties (SPÖ, NEOS, and Greens) refuse to cooperate with FPÖ leader Herbert Kickl.
October 15, 2024
Austria Excludes Solo Withdrawal from UNIFIL Mission in Lebanon
The escalation in southern Lebanon poses a significant threat to stability in the region, with UNIFIL continuing to attempt to maintain its security and observation mission despite the ongoing attacks. Austria's Defense Minister Klaudia Tanner has ruled out a withdrawal of Austrian blue helmets in Lebanon on her own.
October 15, 2024
Austrian Airlines Extends Flight Suspension to Tehran and Tel Aviv
Due to the ongoing tensions in the Middle East, Austrian Airlines (AUA) has decided to suspend flights to Tehran and Tel Aviv until at least the end of October.
October 15, 2024
Music Giants Rock the Cineplexx Cinemas: A Trend Excites Austria
Concert films and music biographies bring the biggest stars to the big screen, creating a very special cinematic experience. Among others, Coldplay's “Moon Music” and Whitney Houston's “Durban Concert” celebrated great success. These films not only offer high-resolution picture and sound quality but also allow fans to experience their favorite artists' concerts together without the inconvenience of a live event.
October 15, 2024
Palestine Congress in Vienna Causes Controversy and Criticism
The Palestine Congress, which had already caused a great deal of controversy in the run-up to the event, was moved at short notice from Vienna-Rudolfsheim-Fünfhaus to Favoriten. The event will take place in a hall in Kudlichgasse shortly before the anniversary of the devastating Hamas attack on Israel.
October 5, 2024
Vienna: The Best City Destination in Europe for Americans
Vienna has once again proven that it is undisputed as a world-class travel destination. Readers of the renowned luxury and lifestyle magazine “Condé Nast Traveler” voted the Austrian capital the best European travel destination in this year's “Readers' Choice Awards” 2024.
October 5, 2024
OSCE Chairman-in-Office Ian Borg on Strengthening the Organization during the UN General Assembly
The Chairman-in-Office of the OSCE, Maltese Foreign Minister and Deputy Prime Minister Ian Borg, took the opportunity of the 79th United Nations General Assembly in New York to address the most pressing challenges facing the Organization for Security and Co-operation in Europe (OSCE) in a series of meetings. The central themes of his discussions with high-ranking representatives of various states revolved around ensuring the OSCE's ability to function in the face of global and regional tensions as well as financial and personnel difficulties.
October 3, 2024
Deficit Forecast for 2024 Rises to 3.3 %: Austria Facing Economic Challenges
The Ministry of Finance has raised its deficit forecast for the 2024 budget to 3.3% of GDP, which puts the deficit above the Maastricht limit of 3%. The reasons for this development include the sluggish economic recovery, the effects of the flood disaster, and the increase in the climate bonus. This represents a significant deterioration, as the forecast in March was still 2.9%.
October 3, 2024
Triumph of the FPÖ: Herbert Kickl in the Contest for the Chancellorship
The Freedom Party of Austria (FPÖ) celebrated a historic victory in the 2024 national elections with 29% of the vote, led by Herbert Kickl. The FPÖ leader, who speaks of an “Orbanization” of Austria, is demanding the chancellorship, but his chances of forming a government remain uncertain. Despite his success, Kickl has met with resistance from potential coalition partners, particularly the ÖVP.
October 2, 2024
Jewish Community in Austria Deeply Concerned about the FPÖ's Election Victory
The disturbing election victory of the right-wing populist FPÖ in the parliamentary elections in Austria has alarmed the Jewish community. Oskar Deutsch, President of the Jewish Community of Vienna (IKG), expressed his deep concern in a statement.
October 2, 2024
Austria at the Decision: National Council Election 2024 and the Political Parties at a Glance
On Sunday, September 29, 2024, Austria will decide on the political direction of the coming years in the National Council elections. In addition to the five established parties ÖVP, SPÖ, FPÖ, Grüne and NEOS, smaller groups such as the KPÖ Plus, the Bierpartei, the Madeleine Petrovic list and the “KEINE” list are also running. The election campaign is characterized by discussions about social justice, migration, security and Austria's role in the European Union.
September 26, 2024
Signa Insolvency: Controversial Loan from the Laura Private Foundation
The insolvency of Signa, under the leadership of René Benko, continues to cause a stir. Particularly controversial is a loan that the Laura Private Foundation, which Benko and his mother back, granted to Signa Holding six weeks before the insolvency filing in November 2023. Trustee in bankruptcy Christof Stapf considers the transaction detrimental to the holding company and seeks to have it set aside by the court and claim damages.
September 26, 2024
Finland Takes Over OSCE Chairmanship in 2025: Focus on Resilience and Support for Ukraine
Finnish Foreign Minister Elina Valtonen outlined Finland's priorities for the OSCE Chairmanship in 2025 to the OSCE Permanent Council in Vienna. Finland's approach is based on three central pillars: resilience, support for Ukraine and upholding OSCE principles that have been violated by Russia's actions. This comes at a time when the European security architecture is under severe pressure.
September 25, 2024
Strengthening Sino-Austrian Relations: Ambassador QI Mei Meets Graz Mayor Elke Kahr
The Chinese Ambassador to Austria, QI Mei, and the Mayor of Graz, Elke Kahr, met at Graz City Hall. This official visit underlines the importance of bilateral relations between China and Austria, particularly at local level and in terms of economic, cultural and tourism cooperation.
September 25, 2024
Austria's Schallenberg and Ukraine's Sybiha with Talks on Solidarity and Peace
Austrian Foreign Minister Alexander Schallenberg and Ukrainian Foreign Minister Andrij Sybiha met in Vienna. This visit marked a key moment in Sybiha's first trip abroad, during which he represented Ukraine in neighboring countries. Having already visited Romania, Sybiha's tour now took him to Austria, where the focus was on support for Ukraine and the international peace process.
September 24, 2024
Global Peace Photo Award 2024: “Dreams of Childhood” Honored as Peace Photo of the Year
The Global Peace Photo Award ceremony took place in the Austrian Parliament. The peace photo of the year 2024, “Dreams of Childhood”, by photographer and multimedia artist Elisa Iannacone from the UK, was honored.
September 24, 2024
European Health Forum Gastein 2024: Health Policy in the Context of Democracy, Demography and Digitalization
The 27th European Health Forum Gastein (EHFG) is one of the most important health policy conferences in Europe. For four days, more than 1200 participants from science, civil society, industry and the public sector will meet to discuss current challenges in the field of health policy. The conference is dedicated to the complex interplay of the “3D” trends: democracy, demography and digitalization.
September 24, 2024
Glock Ecotech Delivers Green Energy to Japan to Promote Sustainability
The Austrian company Glock Ecotech has secured an important project in Japan. As part of a partnership with the Japanese company Eishin Co., Ltd., Glock Ecotech supplies 18 modern Glock CHP 50 thermal power plants to Tokamachi in Niigata Prefecture. This major project will start in the first half of 2025 and marks an important step in Japan's efforts to reduce fossil fuels and become climate-neutral.
September 24, 2024
OPEC Celebrates 64 Years of Shaping the Global Oil Industry
The Organization of the Petroleum Exporting Countries (OPEC) marked a significant milestone this September as it celebrated its 64th anniversary. For more than six decades, OPEC has played a crucial role in stabilizing the global oil market, fostering international cooperation, and championing the sovereignty of oil-producing nations over their natural resources.
September 19, 2024
Magnus Brunner Becomes EU Migration Commissioner: A Challenge for the ÖVP and Europe
From the world of finance to migration – Austria's outgoing Finance Minister Magnus Brunner is taking on one of the toughest jobs in the European Union: EU Commissioner for Migration and Home Affairs. This decision has sparked both surprise and skepticism, especially within Austrian politics and the media.
September 19, 2024
Japan's Rohto Pharmaceutical Invests in Austrian Sigmapharm
In a move to enhance pharmaceutical production in Europe, Japan’s Rohto Pharmaceutical has entered into a strategic partnership with the Austrian Sigmapharm Group. The collaboration aims to expand the production and distribution of ophthalmic drugs and medical products across Europe, with Rohto Pharmaceutical investing nearly €30 million in research, development, production, and sales.
September 18, 2024
Voestalpine in the Midst of an Accounting Scandal and Weak Quarterly Results
Voestalpine AG, one of Europe's leading steel and technology groups, is currently facing a double crisis. In addition to a massive drop in profits in the first quarter of the business year 2024/25, the company is struggling with the consequences of an accounting scandal that spanned more than a decade and only became public in June 2024.
September 18, 2024
Record Rainfalls Caused Flood Disaster in Austria
Over the past few days, Austria has experienced extreme rainfall that has broken numerous rainfall records and led to widespread flooding. The federal states of Lower Austria, Upper Austria, and Vienna were particularly affected, with many weather stations recording several hundred millimeters of rain in just a few days.
September 17, 2024
Subway Lines in Vienna Back in Operation after Flooding - Delays with U6
Following the massive flooding and flood protection measures in Vienna, subway services are slowly returning to normal. From Wednesday morning, September 18, 2024, the U2, U3, and U4 lines will be fully operational again. However, there are still restrictions on the U6, as the line between Längenfeldgasse and Niederhofstraße is impaired due to water ingress.
September 17, 2024
OSCE Economic and Environmental Forum 2024: Focus on Digitalization and Climate Protection
The 31st OSCE Economic and Environmental Forum at the Czernin Palace in Prague focused on the global challenges posed by digital transformation and climate change. Under the theme “Strengthening security and stability in the OSCE area through digital innovation”, the risks and opportunities arising from technological change and climate adaptation were discussed in depth. The forum brought together high-level representatives from governments, international organizations, academia, business, and civil society to debate innovative approaches and policy solutions.
September 17, 2024
IAEA Holds 68th General Assembly in Vienna
The 68th General Assembly of the International Atomic Energy Agency (IAEA) in Vienna has begun, providing an important platform for exchanges between member states on nuclear safety, non-proliferation, and sustainable development. In addition to discussing global issues of nuclear safety and climate change, numerous heads of state and government are taking the opportunity to hold bilateral talks.
September 17, 2024
Austria Opens Embassy in Ghana: Strengthening Relations, Promoting Security and Economic Potential
Austrian Foreign Minister Alexander Schallenberg traveled to the Ghanaian capital Accra to open the new Austrian embassy and deepen bilateral relations between Austria and Ghana. In addition to the opening ceremony, the agenda included meetings with Ghanaian President Nana Akufo-Addo, Foreign Minister Shirley Botchwey, and representatives from both countries' business and cultural sectors.
September 15, 2024
Arab Diplomats Visit Burgenland to Promote Renewable Energies
In a major initiative to strengthen bilateral relations between Austria and the Arab world, the Austro-Arab Chamber of Commerce (AACC) together with Energie Burgenland welcomed a high-ranking delegation of Arab ambassadors and diplomats to Burgenland. The focus of the event was on progress in the field of renewable energies and sustainable development.
September 15, 2024