Latest News

Stable Results and Sales Growth for Swietelsky

The Upper Austrian construction company recorded a strong growth in sales (+7.1%) in the first half-year. Results only vary slightly.

November 30, 2010

Salary Increase in Trade up to 2.3%

Low incomes are taken more into account than higher salaries; the minimum wage in trade now amounts to € 1,300.

November 30, 2010

Massive Lay Offs at Hypo Group

The still ailing Carinthian bank restructures the leasing division. 500 jobs are being cut.

November 30, 2010

Globalization Study: Vienna Among Top 20 Cities

New York remains at the top of the ranking of the "Global City Index 2010" by A.T. Kearney. Vienna stays unchanged at 18th place.

November 30, 2010

EU Growth Forecast: Austria Slightly Over Average

The EU Commission has revised its growth forecast for 2011 slightly upwards. Austria stays at 1.7% in the above average area.

November 30, 2010

Strong Sales Growth in Goods Production and Construction

According to Statistik Austria, sales growth in goods production was 14.3%. Orders for the construction industry decline however.

November 30, 2010

Vienna Stock Exchange: Winners and Losers (2010-11-29)

Daily News-Flash from the Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.

November 29, 2010

Carinthia Strengthens Relations with China

The Carinthian Economic Chamber President, Franz Pacher, has signed a bilateral trade agreement with the Beijing Economic Chamber.

November 29, 2010

Bank Austria: Growth Potential for Real Estate in Romania and Bulgaria

Despite the signs of economic revival, Bulgaria and Romania markets are still largely being ignored by international investors, says Bank Austria.

November 29, 2010

OeNB Governor Nowotny Approves of Ireland Protection Measures

The governor of the Austrian National Bank says the decisions on Ireland and the European stability mechanism are positive.

November 29, 2010

Leitl: Finland and Austria Have Much to Learn From Each Other

Finnish ex-Prime Minister Lipponen exposes economic success secrets of his country.

November 29, 2010

Major Order for Porr in Libya

Porr builds a sports stadium with a Turkish partner. The contract is worth € 220 million euro.

November 29, 2010

Strabag Records Small Decrease in Sales

EBITDA was up by 8% to € 476m, EBIT up by 10% to € 193 m. EPS rises by 5% from € 0.90 to € 0.95.

November 29, 2010

DO & CO Completed Capital Increase

The Capital Increase of Do & Co Restaurants & Catering AG has taken place successfully. The subscription and offer price was set at € 21.90

November 29, 2010

Renewable Energy: Great Potential, but Halted by Politicians

The Umweltdachverband (UWD, Environmental Federation) criticizes sharply the energy policy of the Austrian Government. Investments are made mainly in obsolete technologies

November 29, 2010

A-Tec: Kovats’s Prestige Projects on the Brink

Due to the insolvency of the A-Tec Group. founder and CEO Mirko Kovats will have to give up prestigious projects such as his A-Jet.

November 29, 2010

WIFO: Budget Consolidation in the EU is Not Sustainable

WIFO criticizes the consolidation programs of the individual EU countries for being easily enforceable, but containing hardly any sustainable measures.

November 29, 2010

Government Adapts Capital Gains Tax on Securities

Taxation will be implemented from October 1; loss compensation is allowed. There are no essential changes however.

November 29, 2010

Vienna Stock Exchange: Winners and Losers (2010-11-26)

Daily News Flash from the Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.

November 26, 2010

Verbund Completes its € 1bn Capital Increase

Vienna Stock Exchange listed Verbund AG successfully completed its capital increase and placed 39,215,686 new shares.

November 26, 2010

Vienna Insurance Group Takes a 100% Stake in TBIH

VIG now realizes an increased involvement in Turkey, Ukraine and Georgia.

November 26, 2010

Kapsch TrafficCom Increases Revenues by 85%

In contrast to negative earnings in FY10-H1, Kapsch TrafficCom Group, listed on the Vienna Stock Exchange, recorded clearly positive earnings in FY11-H1.

November 26, 2010

Uniqa Records Sharp Rise in Premiums and Profit

Premiums went up by 10.2% to €4,655 m. Life insurance drives growth, with premiums up by 18.7% Profit increases by 142.7% to €103 m.

November 26, 2010

ÖBB-CEO Kern Reconstructs Freight Division

After the decisions made about personnel, Kern wants to make the freight division profitable again. The group’s CEO has accorded himself three years for the process.

November 26, 2010

Is the Austrian Industry still competitive?

The chief economist of the Industriellenvereinigung (IV), Christian Helmenstein, draws a sobering picture on the future of the domestic industry.

November 26, 2010

Insolvency of AE&E

No agreement over the purchaser of the AE&E subsidiary could be reached. However, Andritz is still considered as a prospective buyer.

November 26, 2010

Vienna International Airport: Decisions on Personnel are Postponed

The previously rumored change of leadership at Vienna International Airport is not taking place yet. There is time until mid-December for the board, highly criticized because of Skylink.

November 26, 2010

WKÖ’s Secretary General Advocates for Educational and Administrative Reform

Young people have to be trained practically to meet the challenges of the future. An administrative reform should not be foregone, said Hochhauser.

November 25, 2010

Polbank: Intesa Bids, Raiffeisen Still in the Race

In the battle for the takeover of the Polish private bank Polbank, the Italian Intesa has already placed a bid. No comments are being made by Raiffeisen.

November 25, 2010

Risk Exposure of Austrian Banks: € 32 billion

The volume that Austria's banks hold at the moment in the altogether not risk-free PIIGS countries (Portugal, Italy, Ireland, Greece), is € 32 billion.

November 25, 2010

aws Has Expansion Plans

The state-owned SME financing agency aws will double its fund volume to € 160 million, and extend its investments.

November 25, 2010

Vienna Stock Exchange: Winners and Losers (2010-11-25)

Daily News-Flash from the Vienna Stock Exchange. Upgrades & Downgrades, Winners & Losers.

November 25, 2010

AE&E: Next Insolvency is Coming Up

A subsidiary of the insolvent AE&E group in Raaba is negotiating with the Styrian plant manufacturer Andritz. They have time until Friday.

November 25, 2010

Discounts for Austrian Airlines and Lauda at Vienna International Airport

Vienna International Airport grants Austrian Airlines and Flyniki discounts. Flyniki rises to the second most important partner.

November 25, 2010

Financial Market Authority Strengthens Fight Against Money Laundering

The Austrian Financial Market Authority (FMA) wishes more on-site inspections and targeted action against international money laundering

November 25, 2010

Leitl Vehemently Asks the Government for Structural Reforms

The President of the Austrian Economic Chamber (WK), Christoph Leitl, call on the government for location and future investments.

November 25, 2010

Siemens Opens Multimedia Center in Vienna

Vienna gets new headquarters. Siemens inaugurates a "World Competence Center" for multimedia with its own research areas.

November 25, 2010

Kneissl: Bankruptcy Application Possible Despite Capital Increase

The traditional Tyrolean ski manufacturer Kneissl is possibly facing lawsuits and bankruptcy applications.

November 25, 2010

ÖBB: Changes in Freight Traffic Leadership

Because of poor results, the ÖBB CEO has to act on facts: The managers of the freight division are being replaced.

November 25, 2010

Europe's Public Debt and Unemployment Remain High

Austrian Institute of Economic Research: The revival of the EU states, driven by expansionary economic policies and export growth, is ebbing.

November 25, 2010

Vienna International Airport: Strong Growth in Profits and Passengers

The Vienna International Airport (Flughafen Wien) could increase its EBIT by 15%, passengers have risen by 8.3% to 14.87m.

November 25, 2010

OMV Supervisory Board: Confirmation of Ruttenstorfer as CEO

Being accused to insider trading, the other members of the board as well as the supervisory board demonstrated to have confidence in CEO Dr. Wolfgang Ruttenstorfer.

November 25, 2010

Hirsch Servo Still Records Losses

Sales were up by 27% in the first quarter. Hirsch already experiences an upward trend, the turnaround is expected in 2011.

November 25, 2010

S Immo Records Profits Again

Vienna-based Sparkassen Immobilien AG records a successful operating performance in the first three quarters of 2010 after the weak year 2009.

November 25, 2010

CA Immo Returns Back to Black

CA Immo presents its Q3 Results: strong increase in EBIT to € 134.6m (2009: € -6.1m), net income grew to € 13.5m (2009: € -78.3m).

November 25, 2010

Vienna Stock Exchange: Winners and Losers (2010-11-24)

Daily News-Flash from the Vienna Stock Exchange. Upgrades & Downgrades, Winners & Losers.

November 24, 2010

Walter Grahammer Becomes the New Austrian Ambassador in Brussels

Previously, Grahammer acted as Head in the Ministry of Foreign Affairs.

November 24, 2010

Food Industry Under Pressure

Above all, lack of capital and high labor costs are plaguing Austrian food producers.

November 24, 2010

Audit Court: Capital Increase for Vienna Airport

The Audit Court criticizes the Board again and advises a capital increase. The personal consequences may be tougher than expected yet.

November 24, 2010

AMS: Temporary Employment Will Continue to Rise

The Chairman of the Board of the AMS (Public Employment Service), Johannes Kopf, believes that the international trend of increasing temporary employment will also take root in Austria.

November 24, 2010