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Iran-Deal Withdrawal: Consequences for Iran-Austrian Economics Relations

About 50 Austrian companies have branches in Iran. Austrian exports to Iran rose by 9.2 percent to 301 million euros in 2017; imports increased by 18.5 percent to 119 million euros. A JCPOA supported only by the EU, Russia, China and Iran is not sufficient in the medium and long term to create the necessary investments and renewals in Iran. Without the US on board, international banks and large companies will continue to shy away from activities in Iran. Secondary sanctions will contribute to this.

May 11, 2018

Trump's Iran Deal Withdrawal Increases Uncertainty for Austrian Companies

Austrian companies react in a wait-and-see manner. The withdrawal of the US from the Joint Comprehensive Plan of Action (JCPOA) with Iran means in practice that the suspension of sanctions will no longer be extended. Considerations range from an immediate halt to activities in Iran to the longest possible active participation within the new sanctions framework. It is unlikely that Austria's exports will reach the 300 million euro mark of the previous year.

May 11, 2018

Iran-Deal - Austrian Oberbank Distances Itself from Framework Credit Agreement with Tehran

Only last year, the Upper Austrian Oberbank was the first European bank to sign a framework credit agreement with Iran. After the USA's withdrawal from the nuclear treaty, the bank is now under pressure and intends to wait and see. The bank says it could certainly take two weeks for a final solution to be found and officially agreed.

May 11, 2018

The Future of the EU: Europe Day Is To Be Given Greater Importance

On Europe Day, one pupil from each member state of the European Union came to the Hofburg for a discussion. More political education in schools and a more comprehensive climate policy are their main demands. "We are 20 percent of the population, but 100 percent of the future."

May 11, 2018

Erotic Art: The Egon Schiele Jubilee Show at the Leopold Museum

The Leopold Museum houses perhaps Egon Schiele's (1890–1918) most important and complete collection of work, featuring over 200 exhibits. One hundred years after the Expressionist's death, the museum is showing a special exhibition entitled "The Jubilee Show".

May 11, 2018

Takeover of Serbian Sugar Producer Sunoko by Agrana on Hold

The takeover of the Serbian sugar manufacturer Sunoko by the Austrian sugar, starch and fruit manufacturer Agrana has failed due to problems on the European sugar market.

May 4, 2018

OMV Group Report Q1 2018: Profit Down 43%, Production Up 30%

Adjusted operating profit amounted to EUR 818 million, up 2% year-on-year. Net income was also in line with forecasts, although net income for the period fell by 43% year-on-year. One of two key events was the signing of a concession agreement for the acquisition of a 20% stake in two fields offshore Abu Dhabi from ADNOC, as well as two satellite fields. The agreed participation fee amounts to USD 1.5 bn and the duration of the contract is 40 years.

May 4, 2018

Hongkong Holding Company Completes Acquisition of Majority Stake in Austrian Lingerie Brand Wolford

Following the acquisition of 50.87% of the shares (for at least €36M) from the previous majority shareholders, Fosun Industrial Holdings Limited (Hong Kong Central) is now the new main shareholder of Wolford. The Hongkong financial investor, which is the investment vehicle of Shanghai based Fosun Group, systematically invests in the global fashion and consumer goods industry, and the management of its growing portfolio in the fashion sector was recently put in the hands of Fosun Fashion Group, which holds stakes in the German Tom Tailor Group and the French luxury brand Lanvin, amongst other holdings

May 4, 2018

Update of Austria's Probe of UN Golan Troops Over Deaths of Syrians

According to media reports, the video, which shows the fatal incident in September 2012 on the Golan Heights, when Austrian blue helmet soldiers sent 9 Syrian security forces into a deadly ambush, was used as a "training film". In parallel with these reports, the former Defence Minister points out that the start of the Syrian Civil War has removed the basis of the UN mandate, which should focus exclusively on monitoring the ceasefire between Syria and Israel.

May 4, 2018

OMV Receives Political Support for €1.3 Billion Purchase of Two UAE Oil Fields

An economic delegation led by Federal Chancellor Sebastian Kurz, with the participation of Margarete Schramböck, Minister of Economic Affairs, OMV CEO Rainer Seele and a small delegation had the main objective of supporting OMV in the concession agreement for the acquisition of a 20% stake in two fields offshore Abu Dhabi from ADNOC.

May 4, 2018

Wolford: Capital Increase of Around EUR 22 Mln Approved, Dr. Junyang Shao is New Chairperson of the Supervisory Board

Today's extraordinary general meeting of Wolford AG resolved to increase the share capital from EUR 36,350,000 to EUR 48,848,227.77 by issuing 1,719,151 new ordinary shares. The issue price (Ausgabebetrag) per new share amounts to EUR 12.80; the total issue price amounts to EUR 22,005,132.80. The new shares have a profit entitlement (Gewinnberechtigung) as of 1 May 2017. The new shares will be issued at a ratio of 20 to 7, i.e. 20 existing shares entitle to subscribe for 7 new shares. The management board was authorized to implement the capital increase by 31 August 2018 and to determine the further details of its implementation.

May 4, 2018

Meet Vienna's New Mayor Dr. Michael Ludwig

Michael Ludwig is a Viennese politician, member of the SPÖ, and since a battle vote in January 2018 against Andreas Schieder the designated mayor respectively state governor of Vienna and the state party chairman of the SPÖ Vienna. On 24 May 2018 he will take up his new position as successor to Michael Häupl.

May 3, 2018

Meet the Ambassador of the Principality of Liechtenstein to Austria: H.S.H. Maria-Pia Kothbauer, Princess of Liechtenstein

Her Serene Highness Maria-Pia Kothbauer, Princess of Liechtenstein is the Ambassador Extraordinary and Plenipotentiary of the Principality of Liechtenstein to Austria and the Czech Republic. She also serves as Liechtenstein's Permanent Representative to the OSCE and to the United Nations. She would explain the country of Liechtenstein to a stranger as follows: "One of Austria's eight neighbours, closely related to Vorarlberg in terms of landscape and character, a German-speaking constitutional hereditary monarchy with a highly-developed system of direct democracy, economically liberal, business-friendly and innovative, simultaneously urban and rural, debt-free, a country with a very high quality of life."

May 2, 2018

New Forum for Deepening German-Austrian Relations: Österreichisch-Deutsches Länderforum

Recently the Österreichisch-Deutsches Länderforum e.V. was founded in Vienna by Dr. Harald Wögerbauer with the intention of offering a platform for deepening German-Austrian relations.

May 2, 2018

Teddy Kollek Exhibition at the Jewish Museum Vienna

Teddy Kollek, who grew up in Vienna, and as mayor of Jerusalem for nearly three decades did more to build and develop the city as Israel’s primary city than any other figure while still seeking to meet the needs of its Arab residents, died in 2007 in Jerusalem. The Jewish Museum in Vienna is showing a retrospective entitled "Teddy Kollek - The Viennese Mayor of Jerusalem".

May 1, 2018

Aristocratic Wertheim Palace in New Splendour

The Ring-Road Palace Wertheim (Palais Wertheim) presents itself as a new full service event location in the First District of Vienna. The Palace Wertheim was built in 1868 by Heinrich Ferstel for the tycoon Franz Ritter von Wertheim. On a total area of more than 1.000m² and 6 meters room height three impressive halls with different design variations are available. The palace became known primarily through the opening of the first and thus oldest McDonald’s branch in Vienna, which still exists at present.

April 30, 2018

Vienna's Attractiveness as a Location for Business Continues to Grow

For the sixth year in a row, Vienna recorded the highest number of companies settling in the city. After Vienna had already achieved a record figure in the previous year with 178 international new additions, this was again exceeded last year with 191 new companies, which is an increase of 13%. These business establishments together are responsible for investments totalling €537 million and 1,087 new jobs. There are 344 new foreign invested businesses throughout Austria. German companies remain the number one investors in Austria.

April 30, 2018

Diversity Ball 2018 at the Kursalon Vienna: „Your Time Is Now“

The 11th Diversity Ball 2018 with the theme "Your time is Now" will take place on May 5th 2018 and will transform the location Kursalon Wien into a shining symbol for practiced tolerance in our community. In a glittering ball night the organizers would like to set an example for the diversity of our community, for tolerance, accessibility and mutual respect.

April 27, 2018

South Korea's LG Electronics Acquires Austrian Automotive Supplier ZKW for €1.1 Bln

South Korean electronics manufacturer LG Electronics is acquiring the Lower Austrian lighting and electronics systems specialist ZKW for more than 1.1 billion euros. It plans to buy a 70 percent stake in ZKW Holding, a supplier to Mercedes-Benz and BMW. Its holding company LG Corp. will purchase the remaining stake for 330 million Euro. LG hopes to expand its position in the automotive lighting sector for self-driving cars. ZKW was previously wholly owned by the entrepreneur Ulrich Mommert.

April 26, 2018

The Window of Opportunity for the Western Balkans

Will the Western Balkan countries be able to take advantage of the moment and will it bring the year 2018 closer to the European Union? In February 2018, a new Enlargement Strategy was presented in Strasbourg by the EU Commission. Bulgaria, currently having the Presidency of the Council of the EU, will organize a major Balkan’s Summit in May. Austria, for a long time one of the most prominent promoters of the EU Enlargement for the Western Balkans and a country deeply intertwined with the region, will assume the EU presidency in the second half of 2018. This year represents one of the crucial moments for enlargement as major steps need to be undertaken to reach the goal of making the enlargement perspective realistic for 2025.

April 26, 2018

Raiffeisen Centrobank: Yearly Financial Report 2017

Raiffeisen Centrobank AG is declaring the following financial reports below.

April 26, 2018

What does the Vienna-based ICMPD and its Director General Michael Spindelegger do?

The International Centre for Migration Policy Development (ICMPD) was founded in 1993 in Vienna on the initiative of Austria and Switzerland with the aim of making migration and mobility of people orderly, safe and regular, including through the implementation of planned and well managed migration policies. The aim is to counteract the often short-term thinking of governments so that sustainable solutions can be found and implemented in the medium and long term to combat and overcome the migration crisis. From this point of view, the tasks of the ICMPD have become extremely topical and important due to the refugee crisis.

April 26, 2018

New Appointments of Austrian Diplomatic Posts Abroad

At its meeting of 25 April 2018, the Austrian Council of Ministers decided to entrust the following Foreign Ministry officials with the direction of Austrian Missions.

April 25, 2018

Keith Haring at the Albertina: The Alphabet

To mark the 60th birthday of the American artist, who died at the age of 32, the Albertina is showing a large-scale exhibition of 100 internationally sourced works. The special focus will be on the one-of-a-kind symbolic language that is present throughout Haring's oeuvre as an artistic alphabet of sorts.

April 25, 2018

Austria Participates in World EXPO 2020 Dubai Investing €16.5 Mln

Austria's participation agreement for the World Expo 2020 from 20 October 2020 to 10 April 2021 in Dubai has been signed by Government Commissioner Beatrix Karl as part of the "Austria Connect Gulf 2018" event of the WKO Foreign Trade Center (Außenwirtschaftscenter).

April 25, 2018

Goals for Austria's Presidency of the Council of the European Union

On 1 July 2018, Austria will take over the Presidency of the Council of the European Union from Bulgaria. During its Presidency of the Council of the European Union (1 July to 31 December 2018), guided by the motto "A Europe that protects", Austria will focus on three key areas: security and the fight against illegal migration, retaining competitiveness through digitalisation, and stability in the neighbouring regions (particularly the accession of the Western Balkans to the EU).

April 25, 2018

International Congresses: Vienna Worldwide Number Two - UN Events Contribute 7% of Conference Nights

The Vienna meetings industry progresses from record to record. With 186 meetings, Vienna remains behind Paris with 196 meetings, number 2 in the Worldwide Ranking of the ICCA (International Congress and Convention Association). In the year prior to that, Vienna was still in fifth place. The proportion of congresses that can be allocated exclusively to the United Nations is enormous and accounts for around 7% of overnight stays.

April 24, 2018

Agrana: Dividend Proposal of € 4.50 Per Share for the 2017|18 Financial Year

The Management Board of Agrana has decided to propose a dividend payout in the amount of EUR 4.50 per share for the 2017|18 financial year (dividend for 2016|17: EUR 4.00 per share) to the 31st Annual General Meeting to be held on 6 July 2018.

April 24, 2018

Eurozone Finance Ministers Welcome Austria's Budgetary Plans

The 19 members of the Eurozone welcome Austria's submission of an updated draft budgetary plan for 2018.

April 24, 2018

Austria's Role in Brussels' Syria Conference Rather Modest

Austria's recent efforts regarding Syria to make only 4 million additional euros available on the one hand, and Lawrow's clear rejection of Austria's possible mediation role in the Syrian conflict on the other, cannot be classified as a success. Rather than Vienna, the Brussels Conference will seek to resume the UN peace talks in Geneva.

April 24, 2018

Doppelmayr to Build Cable Liner at London Airport

At London Luton Airport, Doppelmayr is building a cable car almost two kilometers long with a capacity of 2,720 passengers per hour and per route. This makes Luton Airport the second airport project in the UK after Birmingham for Doppelmayr. The Cable Liner is scheduled to go into operation in April 2021. Doppelmayr does not give details of the project turnover.

April 23, 2018

The AMBASSY for Ambassadors

In Vienna's embassy district, surrounded by over thirty diplomatic missions, an interesting urban residential object is being created in three lifestyle categories, "The Ambassy Parkside Living".

April 23, 2018 · Sponsored Content

Presentation of the First Ari Rath Prize for Critical Journalism

Journalist Alexandra Föderl-Schmid will be awarded the First Ari-Rath Prize for Critical Journalism on 3 May 2018, the Day of Freedom of the Press. This prize was established to honour journalists who have rendered outstanding services to critical reporting on immigration, expulsion and asylum, committed to respect for human rights, in the spirit of the former editor-in-chief of the Jerusalem Post, who died in January 2017.

April 23, 2018

Kapsch TrafficCom AG Awarded Contract to Upgrade TollCollection Equipment on Maryland Roads

The Maryland Transportation Authority (MDTA) has awarded Kapsch TrafficCom (Kapsch) a contract to replace and maintain all roadside tolling equipment in the mixed-mode, cash, and express toll lanes under MDTA management. The contract commenced in February 2018 and includes the replacement of all toll equipment, expected to be converted to the Kapsch system by 2020, and six years of subsequent operations and maintenance as well as the option to extend the contract for additional four years. The project volume of the base contract exceeds EUR 55 million and will be managed locally from the Kapsch office in Rockville, Maryland.

April 23, 2018

Toys "R" Us in Austria Gets Northern Irish Owner

The Northern Irish toy dealer Smyths Toys takes over the 15 Toys "R" Us toy stores in Austria.

April 23, 2018

A Competitive Classical Summer Stage for the World's Capital of Opera

The Danube Arena, a huge summer stage for classical concerts, opera and operetta, is reportedly to be built on the banks of the Danube in the middle of Vienna. The aim is to compete with the big summer venues Bregenz, Mörbisch and Salzburg and to give tourists and locals the chance to enjoy classical music even in summer (during the summer breaks of the established venues).

April 20, 2018

Austria Center Vienna Unveils Largest Modernization Concept in Its History

Austria's largest congress centre, the Austria Center Vienna, recently presented its modernisation concept until 2022. This will make completely new event formats possible and at the same time make the space around the house more attractive to the public. This is the largest construction project in the company's 30-year history.

April 20, 2018

Austrian Financial Market Authority Is Pleased With Whistle-Blowing System

In 2017 whistleblowers made 158 tip-offs regarding misconduct in the Austrian financial market. The FMA has been operating a special IT-based whistleblowing system since 1 February 2014 that allows the anonymous receipt of confidential information about possible instances of malpractice in supervised entities. FMA Executive Board: “Our whistle-blowing system is an important source of information for the FMA.”

April 20, 2018

Soros's Central European University is to Remain in Budapest

The Central European University (CEU) donated by US billionaire George Soros does not plan to move to Berlin or Vienna, but expects the Hungarian government to sign the agreement with the State of New York as soon as possible so that the CEU can remain in Budapest.

April 20, 2018 · Updated: April 20, 2018; 19:10

Immigon Portfolioabbau AG: Yearly Financial Report 2017

immigon portfolioabbau ag is declaring the following financial reports below.

April 20, 2018

The New Balkans in the Year of Hope for EU Enlargement

2018 has been frequently described as the „year of hope“ for EU enlargement and for the Balkans. In February 2018, a new Enlargement Strategy was presented in Strasbourg by the EU Commission. Bulgaria, currently having the Presidency of the Council of the EU, will organize a major Balkan’s Summit in May 2018. Austria, for a long time one of the most prominent promoters of the EU Enlargement for the Western Balkans and a country deeply intertwined with the region, will assume the EU presidency in the second half of 2018. 2018 represents one of the crucial moments for enlargement as major steps need to be undertaken to reach the goal of making enlargement perspective realistic for 2025.

April 20, 2018

Austrian Minister of Education Demands Clarification from Islamic Community

In connection with the affair over children as soldiers playing war games in a Viennese mosque, Minister Blümel demands further information and clarification of the incidents from the Islamic Religious Community in Austria (IGGÖ - Islamische Glaubensgemeinschaft in Österreich).

April 20, 2018

Top Energy Events Put Vienna in the Focus of the Global Clean Energy Economy

The Vienna Energy Forum 2018 in May in Vienna brings together a multitude of people and institutions to discuss and solve the key questions of the present on the topic of energy. Among them are heads of state, ministers, energy experts, representatives of international and non-governmental organizations, academia, civil society and the private sector. The PFAN Climate and Clean Energy Investment Forum and the R20 Austria World Summit are also part of this huge event. This event, sponsored by Arnold Schwarzenegger, is a high-level summit about leadership on implementing the Paris Climate Agreement and the United Nations Sustainable Development Goals.

April 19, 2018

Tourism: Vienna Achieves New Record Number of Overnight Stays

Vienna recorded a new tourist record in March with an increase of 8.5% compared to the previous year. The number of guest overnight stays rose to 1,169,000. Most of the tourists came from Germany, Italy, Russia, Spain, the UK and Switzerland.

April 19, 2018

Telekom Austria: Strategic Restructuring of Management and Supervisory Board

At Telekom Austria's Supervisory Board meeting, not only the change at the top of the company's Supervisory Board was sealed, but also the restructuring of the Management Board. Thomas Arnoldner (40), previously responsible for Sales & Services on the T-Systems Board of Management, replaces Alejandro Plater as Telekom Austria CEO. Economics lawyer Edith Hlawati takes over as Chairman of the Supervisory Board from Wolfgang Ruttenstorfer.

April 19, 2018

C-Quadrat Streamlines Corporate Group Structure

C-Quadrat plans to spin off the business operations of C-Quadrat Wealth Management GmbH (formerly: C-Quadrat Kapitalanlage AG) to ARTS Asset Management GmbH, in which the company holds a 45% stake. In return, societal profit participation rights ("sozietäre Genussrechte") will be granted to the company instead of additional company shares.

April 19, 2018

Meet the Ambassador of the Republic of Ecuador to Austria: H.E. Mr. Carlos Alberto Játiva Naranjo

The new Ambassador of the Republic of Ecuador to Austria H.E. Mr. Carlos Alberto Játiva Naranjo presented President Alexander Van der Bellen with his letter of accreditation at the Vienna Hofburg.

April 16, 2018

Meet the Ambassador of the Republic of Iraq to Austria: H.E. Mr. Jabir Habeb Jabir Hemaidawi

The new Ambassador of the Republic of Iraq to Austria: H.E. Mr. Jabir Habeb Jabir Hemaidawi presented President Alexander Van der Bellen with his letter of accreditation at the Vienna Hofburg.

April 16, 2018

Meet the Ambassador of Malaysia to Austria: H.E. Dato’ Ganeson A/L Sivagurunathan

The new Ambassador of Malaysia to Austria H.E. Dato’ Ganeson A/L Sivagurunathan presented President Alexander Van der Bellen with his letter of accreditation at the Vienna Hofburg.

April 16, 2018

Meet the Ambassador of the Sovereign Military Order of Malta to Austria: H.E. Sebastian Prinz von Schoenaich-Carolath

The new Ambassador of the Sovereign Military Order of Malta (Souveräner Malteser Ritterorden) to Austria H.E. Sebastian Prinz von Schoenaich-Carolath presented President Alexander Van der Bellen with his letter of accreditation at the Vienna Hofburg.

April 16, 2018