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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

China Ambassador to Austria Qi Mei in the “Press Salon” of the Austrian Journalists' Club

China's Ambassador Qi Mei was a guest at the “Press Salon” event at the invitation of the Austrian Journalists' Club (ÖJC). In the presence of journalists from well-known media such as “Der Standard” and ORF, Qi Mei took the opportunity to talk about China's current economic and political developments as well as relations with Austria.

September 12, 2024

Gas Extraction in Upper Austria: Opportunities and Challenges for ADX Energy's Test Drillings

The planned natural gas extraction in Upper Austria is causing controversy. While the Australian company ADX Energy sees gas as a contribution to national energy independence, environmentalists warn of the ecological and climate policy consequences of new fossil fuel projects.

September 12, 2024

Vienna Receives Slovakian President: Deepening Relations and Discussion on Sanctions

Slovakian President Peter Pellegrini visited Austria as part of his official inaugural visit. It was his fourth bilateral trip to one of Slovakia's neighboring countries, having previously visited the Czech Republic, Poland and Hungary.

September 11, 2024

Vienna to Become a Center for Financial Technology: AFT 2024 International Conference

Vienna will once again become the international hub for innovative financial technologies in September 2024. From September 23 to 25, 2024, the sixth edition of the Advances in Financial Technologies (AFT) conference will take place at the Austrian National Bank (OeNB).

September 11, 2024

Foreign Currency Loans in Austria Fall to New Low in Q2 2024

The market for foreign currency loans in Austria continues to decline sharply. The Financial Market Authority (FMA) published a new survey for the second quarter of 2024, which shows a further significant decline in the outstanding volume of such loans.

September 11, 2024

Whistleblower System to Help Clarify the Signa Bankruptcy

The investigation into the insolvency of the Signa real estate empire is progressing. A new whistleblower system is now intended to help bring transparency to complex corporate structures through information from employees and creditors and to reveal previously undiscovered information.

September 11, 2024

Fighting Hunger with Innovation: Kofi Annan Award for Africa

The second presentation of the Kofi Annan Award for Innovation in Africa has now taken place at the Hofburg Palace in Vienna. The award recognizes digital and technological solutions to improve food security and the fight against hunger in Africa. In this edition, the focus was on SDG 2 - “No Hunger”.

September 9, 2024

OSCE Chairman-in-Office Ian Borg Ensures Organizational Continuity During Leadership Transition

In the absence of consensus on the appointment of a new leadership for the Organization for Security and Co-operation in Europe (OSCE), the Chairperson-in-Office, Malta's Minister for Foreign and European Affairs Ian Borg, has taken important steps to ensure the Organization's ability to operate during this transitional period.

September 9, 2024

Closing of the European Forum Alpbach 2024: Europe's Future under the Sign of the “Moment of Truth”

The European Forum Alpbach 2024 came to a successful conclusion with a lively discussion between high-ranking representatives of all Austrian parliamentary parties in front of around 500 participants. The final discussion marked the highlight of a two-week forum that once again served as an important platform for European and international dialog.

September 8, 2024

Azerbaijan's Parliamentary Elections: Lack of Competition and Restricted Fundamental Freedoms Draw International Criticism

On 1 September 2024, early parliamentary elections were held in Azerbaijan, which were sharply criticized by international observers from the OSCE. Despite efficient organization, the election was marked by a lack of political competition and an increasingly repressive political climate, which raised doubts about the democratic legitimacy of the entire process.

September 8, 2024

Technology Talks 2024: Vienna as a New Hotspot for Research and Innovation

On September 12 and 13, the MuseumsQuartier in Vienna will be transformed into a center for the latest developments in research, technology and innovation. The Technology Talks Austria 2024 will bring together over 700 experts from science, business and politics to discuss the challenges and opportunities of the so-called “triple transition” - a transformation that encompasses ecological sustainability, digitalization and social justice.

September 5, 2024

Russian Court Decision Complicates Raiffeisen Bank International Planned Sale of Subsidiary Bank

The planned exit of Raiffeisen Bank International AG (RBI) from Russia has suffered a significant setback. A Russian court has issued a temporary injunction blocking the sale of the Russian subsidiary AO Raiffeisenbank. This decision could significantly delay the Austrian bank's efforts to reduce its presence in Russia.

September 5, 2024

From Foreign Minister to Tiger Ambassador: Karin Kneissl's Unusual Career in Russia

Karin Kneissl, the former Austrian Foreign Minister, has taken on a new and, at first glance, unexpected role in Russia: She has been appointed official ambassador for the protection of the endangered Amur tiger. This extraordinary career move shows how deep her connection to Russia, and in particular to Vladimir Putin, has become. Her relationship with Russia and Putin has been at the center of international attention for years and has attracted both admiration and criticism.

September 5, 2024

Austria's Diplomats Meet Up: Ambassadors' Conference 2024 in Vienna

More than 100 Austrian ambassadors, permanent representatives, and consuls general from all over the world have gathered in Vienna for the Foreign Ministry's annual Ambassadors' Conference. The event, which lasts until September 5, offers diplomats a platform to discuss challenges in foreign policy. The focus is particularly on topics such as security, economic and cultural diplomacy as well as strengthening international dialog.

September 4, 2024

UNOOSA and University of Bonn Renew Partnership to Promote Space-Based Disaster Relief

The United Nations Office for Outer Space Affairs (UNOOSA) and the University of Bonn have extended their partnership to intensify the use of space technology to tackle growing threats from natural and man-made disasters. The five-year agreement signed in Vienna aims to continue and expand the “Spaceborne Earth Observation Applications for Emergency Response and Disaster Risk Reduction” (SPEAR) project with a focus on Africa.

August 29, 2024

CIA Provided Crucial Clues to Attack Plans at Swift Concert in Vienna

The CIA has confirmed that it provided the decisive tip-off to prevent a possible attack on a Taylor Swift concert in Vienna. Information had been received about four people with links to the Islamic State (IS) terrorist militia who were planning an attack.

August 29, 2024

Controversy Over "Mosque Education 2.0": IGGÖ Criticizes the Lack of Recognition for their Reform Efforts

The Islamic Religious Community in Austria (IGGÖ) has expressed strong criticism of the recent public discourse surrounding the "Mosque Education 2.0" initiative announced by the Minister of Integration, Susanne Raab.

August 28, 2024

Diplomatic Tensions Rise as Iran Summons Austrian Ambassador Over Hezbollah Dispute

In a new diplomatic development, the Iranian government summoned the Austrian Ambassador to Tehran, Wolf Dietrich Heim, to the Iranian Foreign Ministry. This move comes in direct response to Austria's earlier summoning of the Iranian Ambassador to Vienna, Abbas Bagherpour Ardekani, following his controversial social media post that included symbols of the Hezbollah militia, which is banned in Austria.

August 28, 2024

Austria's Colonel Markus Reisner: Escalation, Strategies and Possible Turning Points in the Ukraine War

The war in Ukraine has reached a new dimension in recent weeks. With intensified Russian airstrikes, fierce fighting in the Donbas, and a risky Ukrainian offensive across the Russian border, the conflict is facing a potential escalation and strategic realignment. Colonel Markus Reisner, one of the Austrian Armed Forces' strategists and military academics, assesses the situation.

August 27, 2024

European Forum Alpbach Enters Second Week: A Look Back and a Look Forward

The European Forum Alpbach (EFA) is entering the second week of its high-caliber discussion rounds. Under the motto “Moment of Truth”, the focus is on Europe's challenges and opportunities. While the first few days of the forum have already set important accents, the coming week promises equally exciting insights and groundbreaking debates.

August 27, 2024

IGGÖ President Vural Makes Clear Position Against Extremism

In a powerful speech, Ümit Vural, President of the Islamic Religious Community in Austria (IGGÖ), called for a joint effort to combat extremism and strengthen social cohesion. In view of the increasing challenges posed by terrorist attacks, geopolitical conflicts and heated security debates in the run-up to the upcoming elections, Vural emphasized the responsibility and long-standing role of the IGGÖ as a state-recognized religious community in Austria.

August 27, 2024

Ukraine's Kursk Offensive: IAEA Concerned About Kursk Nuclear Power Plant

The situation around the Kursk nuclear power plant in the Russian border region continues to deteriorate as fighting between Ukrainian and Russian forces intensifies in the immediate vicinity. Rafael Grossi, Director General of the International Atomic Energy Agency (IAEA), expressed his deep concern about the extremely dangerous situation during his visit to the power plant on Tuesday.

August 27, 2024

Outrage About Tweet by Iranian Ambassador in Vienna: Call for Summons

A social media posting by the Iranian ambassador in Vienna, Abbas Bagherpour Ardekani, has caused a considerable political stir. In addition to calls for the Iranian ambassador to be summoned, there have also been calls for further diplomatic consequences.

August 25, 2024

Lithuanian Asmik Grigorian to be Awarded the “Grand Jury Prize” of the Austrian Music Theater Award

The Lithuanian soprano Asmik Grigorian, one of the most outstanding personalities on the international opera scene, will receive the “Grand Jury Prize” of the Austrian Music Theater Award on September 1, 2024, at the Vienna Volksoper. This award, considered one of the most important honors in the field of opera in Austria, recognizes Grigorian's exceptional artistic achievements and her lasting influence on music theater.

August 25, 2024

Wien Museum Sheds “New Light” on the City's Islamic Heritage

In a new summer academy entitled “Islamic Heritage in Vienna”, the Wien Museum is focusing on the city's often overlooked but significant Islamic heritage.

August 22, 2024

UniCredit Bank Austria: Austrian Economy Remains in the Downturn - Hope for Recovery Only in 2025

The economic situation in Austria remains tense and a sustainable recovery does not appear to be in sight until 2025. The latest reports from UniCredit Bank Austria paint a gloomy picture for 2024. Despite some positive signs, particularly in the service sector, the economy is in a prolonged slump. Industry and the construction sector in particular continue to be under great pressure, which is weighing heavily on the overall situation in Austria.

August 22, 2024

Meet Germany's Permanent Representative to the United Nations in Vienna

Rüdiger Bohn, Germany's Permanent Representative, presented his credentials to the Director-General of the United Nations Office in Vienna, Ghada Waly. Meet Ambassador Rüdiger Bohn, the Permanent Representative of the Federal Republic of Germany to the International Organizations in Vienna.

August 20, 2024

OPEC Sees Oil and Electrification as an Inseparable Duo for the Future of Global Energy Supply

In the current debate about the future energy supply, electrification is often portrayed as the big opponent of oil. The increasing pressure to reduce CO2 emissions and make the energy supply more sustainable has led many to view the use of oil as obsolete. But Haitham Al Ghais, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), disagrees with this simplistic view and emphasizes the indispensable role that oil and its derivatives play in the global energy landscape.

August 20, 2024

Austria's Competition Watchdogs Criticize Concentration on Gas Market

The Federal Competition Authority (BWB) and the regulatory authority E-Control recently presented the second interim report of their joint Electricity & Gas Task Force. This investigation is a reaction to the developments in the Austrian energy markets, which are characterized by strongly fluctuating prices and high market concentration.

August 20, 2024

Vienna Airport Reports Strong Growth in the First Half of 2024

Flughafen Wien AG, the operator of the Vienna International Airport, presented impressive results for the first half of 2024. The company recorded significant growth in all key areas, including passenger numbers, revenue, and profit, thus continuing its successful growth course.

August 20, 2024

Austria's Olympic Splendor in Paris 2024: A Balance Between Tradition and Surprises

The 2024 Summer Olympics in Paris are history, and Austria can look back proudly on its sporting achievements. On Tuesday, the successful Olympic athletes were honored in the Vienna Hofburg by Federal President Alexander Van der Bellen.

August 18, 2024

Alpbach: Between Tradition and the Future - the European Forum Alpbach 2024

The European Forum Alpbach (EFA) celebrated its 80th anniversary in 2024. It once again attracted over 4,000 participants to the small Tyrolean mountain village, which became the center of European discourse for two weeks. Under the general theme of “Moment of Truth”, this year's forum focused on the groundbreaking decisions that Europe must make in the face of multiple crises, from climate catastrophes to political tensions.

August 18, 2024