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Austria's Economy: End of Recession in Sight, but Recovery Remains Fragile
After two years of recession, a turning point appears to be on the horizon for the Austrian economy. This is according to leading economic research institutes WIFO (Austrian Institute of Economic Research) and IHS (Institute for Advanced Studies), which have raised their forecasts for 2025 and now expect economic output to stagnate or grow slightly. Nevertheless, both institutes warn of ongoing risks and only a modest recovery.
Yesterday
Vienna as Europe's AI hub: Supercomputer Launched, Gigafactory in Sight
The Austrian capital is consolidating its position as a European hub for artificial intelligence (AI). With the imminent launch of AI Factory Austria (AI:AT) and its active bid to become one of Europe's AI gigafactories, Vienna is sending a strong signal for innovation and digital sovereignty.
June 24, 2025
Austria Relocates Embassy from Tehran to Baku
The Austrian Embassy in the Iranian capital, Tehran, has been temporarily relocated to Baku, Azerbaijan, due to security concerns. This was announced by the Austrian Foreign Ministry in a statement. The measure is aimed at ensuring the safety of embassy staff. At the same time, the ministry assures that there are still ways for Austrians to leave Iran.
June 24, 2025
Austrian Chancellory Reaffirms its Commitment to the Rule of Law and Multilateralism
Austrian Chancellor Christian Stocker, together with Foreign Minister Beate Meinl-Reisinger and Minister for Europe and Family Affairs Claudia Plakolm, invited the diplomatic corps and representatives of international organizations to a reception at the Federal Chancellery. The reception, which took place exactly three months after the government took office, emphasized the central role of diplomacy and dialogue in an increasingly uncertain world.
June 18, 2025
UN High Commissioner for Human Rights Points Urgent Appeal for Gaza
The United Nations High Commissioner for Human Rights and Austrian UN diplomat, Volker Türk, has urged governments worldwide to take action to end the “unbearable suffering” of the people in the Gaza Strip. At the start of the 59th regular session of the UN Human Rights Council in Geneva, Türk emphasized that “everyone who bears governmental responsibility must wake up and see what is happening in Gaza.”
June 18, 2025
City Trialogue in Vienna: Working Together for a Sustainable and Livable Future
The mayors of Zurich, Hamburg, and Vienna met in the Austrian capital for the fifth “City Trialogue.” This year's exchange focused on pressing issues such as climate protection, renewable energies, circular economy, technology development, health infrastructure, care, and culture.
June 13, 2025
Export Day 2025: Austria's Export Economy with its Opportunities and Challenges
The Austrian Federal Economic Chamber's (WKÖ) Export Day 2025 was once again the largest internationalization event in Central Europe. Under the motto “Seizing Business Opportunities. NOW!”, the event brought together around 3,000 participants, including over 2,500 decision-makers, more than 60 WKÖ economic delegates, top international speakers, and leading export service providers. The aim was to encourage companies to actively seize international business opportunities and put the Austrian export industry in the spotlight.
June 11, 2025
French Art History Festival: Austrian Cultural Diplomacy on Display
Austria was the guest country at this year's renowned “Festival of Art History,” which attracted up to 10,000 visitors and took place at the Palace of Fontainebleau, around 70 km south of Paris. The importance of cultural diplomacy for Austria was once again emphasized.
June 10, 2025
Austria Designates Special Envoys for Austrian Candidacy for the United Nations Security Council
For quite some time now, the new federal government has pursued a more active role in international diplomacy, and a defined goal is a non-permanent seat on the UN Security Council for 2027/28. Being elected requires a two-thirds majority vote from the United Nations General Assembly, and therefore, the federal government designated special envoys to advocate for Austria.
June 8, 2025
Susanne Raab Elected as New Director General of ICMPD
Representatives of the 21 ICMPD member states have elected Susanne Raab, a former ÖVP Integration Minister, in Stockholm to succeed Director General Michael Spindelegger, who is stepping down at the end of the year. This means that after nearly 10 years, the organization in Vienna will have new leadership, albeit Austrian once again.
June 7, 2025
International Climate Conference in Vienna, Austrian World Summit 2025: Schwarzenegger Calls for Action
The ninth Austrian World Summit took place at the Hofburg Palace in Vienna under the motto “Unite in Action – Terminate Pollution.” Organized by former California Governor Arnold Schwarzenegger and the Schwarzenegger Climate Initiative, the event aimed to present concrete measures to combat the climate crisis, strengthen cooperation, and generate political and social momentum for ambitious climate protection policies.
June 4, 2025
Austria Recruiting U.S. Researchers: Science Committee Discusses Simplified Appointment Procedures
The Austrian Parliament's Science Committee is considering a draft law that would facilitate the appointment of professors without a competitive application process. The aim is to attract researchers from the U.S. who want to leave their home country due to political developments under President Donald Trump.
June 4, 2025
Austria Wants to Position Itself as a Safe Haven for International Science
Given the increasing restrictions on academic freedom in the U.S.A., the Austrian federal government has adopted a comprehensive package of measures to support international researchers and students. The Council approved the Minister's package and aims to strengthen Austria as an attractive and secure location for science.
May 27, 2025
Acquittal for Former Chancellor Sebastian Kurz in False Statement Trial
The Vienna Higher Regional Court (OLG) acquitted former Austrian Federal Chancellor Sebastian Kurz of the charge of making false statements in connection with the Ibiza Investigation Committee. The judgment of the Vienna Regional Court from February 2024, which provided for an eight-month conditional prison sentence, was thus overturned.
May 26, 2025
New Natural Gas Well in Upper Austria: ADX Expands Exploration Area in Molln
The Australian-Austrian energy company ADX Energy has received approval from the Austrian authorities to significantly expand its exploration area in the Upper Austrian district of Kirchdorf an der Krems. The measure relates in particular to the so-called Welchau area in the municipality of Molln, which had already come into focus last year with an initial well.
May 23, 2025
Van der Bellen Visits Japan: Focus on Business Delegation and EXPO 2025
Austria's President Alexander Van der Bellen is currently on a state visit to Japan, accompanied by a high-ranking business delegation of around 150 people. The four-day trip - organized in close cooperation with the Federal Ministry of Labour and Economy and the Austrian Federal Economic Chamber - is all about deepening bilateral economic and diplomatic relations.
May 22, 2025
Meet the New Georgian Ambassador Alexander Maisuradze in Vienna
Alexander Maisuradze is the new Ambassador of Georgia to the Republic of Austria and Permanent Representative of his country to the international organizations in Vienna. The experienced diplomat formally presented his credentials to the Austrian president and several leading representatives of multilateral diplomacy in the Austrian capital.
May 19, 2025
Commemoration, History and Geopolitics: Russia Marks the 80th Anniversary of the Liberation of Vienna
The Russian Federation commemorated Austria's liberation from National Socialism in 1945 with a series of ceremonial events in Vienna and several Lower Austrian cities, focusing on the 80th anniversary of the capture of Vienna by the Red Army, which had made a significant contribution to the defeat of the Nazi regime. The Embassy of the Russian Federation used the occasion to celebrate historical commemoration on the one hand, but also to anchor its foreign policy narrative in the present.
May 15, 2025
Swiss Defense Minister Pfister at TRIAS25 in Austria
With his first official visit abroad, the new Swiss Minister of Defense, Federal Councillor Martin Pfister, sent a clear signal for intensified military partnership. He met his Austrian counterpart, Klaudia Tanner, at the Allentsteig military training area as part of the multinational exercise “TRIAS25”.
May 12, 2025
EU Ambassadors Meet Foreign Minister Meinl-Reisinger at the Polish Embassy in Vienna
The ambassadors of the EU member states gathered at the Embassy of the Republic of Poland in Vienna for a meeting in the HoMs format with Austrian Foreign Minister Beate Meinl-Reisinger. The meeting focused on the foreign policy priorities of Austria's new tripartite government and current security policy challenges in Europe.
May 11, 2025
Ex-Meinl Austrian Banker Peter Weinzierl in U.S. Pretrial Detention
The former CEO of the now-defunct Meinl Bank, Peter Weinzierl, is in custody in the United States. After years of investigations and complex extradition proceedings, the 59-year-old Austrian was transferred to a federal prison in Brooklyn, New York.
May 11, 2025
Austria Strengthens its Commitment to the Reconstruction of Ukraine at the Gymnich Meeting
While the EU foreign ministers reaffirmed their solidarity with Ukraine at the Gymnich meeting in Warsaw and discussed security policy decisions for Europe, the Austrian federal government also sent a clear signal: Wolfgang Anzengruber, an experienced economic and energy expert, was appointed national coordinator for the reconstruction of Ukraine.
May 8, 2025
Austria Plans Holocaust Museum: Government Launches Feasibility Study
The Austrian Federal Government unanimously approved a feasibility study for establishing a Holocaust Museum. This marks the start of a politically and socially significant process which - more than 80 years after the end of the Second World War - is intended to permanently anchor the memory of the systematic extermination of Jewish life by the Nazi regime in the center of the capital.
May 8, 2025
Erste Group Expands into Poland: Takeover of Santander Bank Polska worth Billions
The Austrian Erste Group Bank AG has announced a step towards expansion in Central and Eastern Europe. The bank is acquiring a 49 percent stake in Santander Bank Polska for around EUR 6.8 billion and a 50 percent stake in asset manager Santander TFI for a further EUR 200 million. This transaction made Erste Group the third-largest bank in Poland and expanded its customer base in the region to around 23 million people.
May 5, 2025
Austrian Company Palmers: Hope for Rescue by International Investor
The traditional Austrian underwear manufacturer Palmers, which had to file for insolvency in February 2025, may be about to be rescued by a foreign investor. The regional court in Wiener Neustadt has decided that the company can continue to operate for now, but financial support is urgently needed.
April 24, 2025
Strengthening the Economic Bridge Between China and Austria at the 15th Investment Seminar in Vienna
The 15th seminar on “Austria as an investment location” took place in the Austrian capital in the context of growing economic ties between China and Europe. The event was organized by the Embassy of the People's Republic of China in Vienna, under the direction of Ambassador Qi Mei. The high-caliber event brought together representatives from Austrian federal authorities, economic institutions, and federal states as well as numerous executives from Chinese companies operating in Austria.
April 21, 2025
Austria Backs Multilateralism and Calls for Strengthening of International Cooperation in Vienna
Austrian Foreign Minister Beate Meinl-Reisinger opened the constituent meeting of the Council for Austrian Integration and Foreign Policy (RIA) in Vienna. In her speech, she emphasized the central role of multilateral organizations such as the EU, the UN, and the OSCE in ensuring security and stability in the face of global tensions.
April 17, 2025
Tri-national Military Exercise in Austrian Allentsteig with Almost 1,000 Swiss Soldiers
The multinational military exercise “TRIAS25” began at the Allentsteig military training area in Lower Austria. Around 1,300 soldiers from Switzerland, Germany, and Austria will be training together until May 9. The exercise aims to strengthen the interoperability of the armed forces and test new operational concepts.
April 15, 2025
OMV Stops Fuel Procurement from Serbian NIS due to U.S. Sanctions
The Austrian oil, gas, and chemicals group OMV has stopped purchasing fuel from the Serbian energy company Naftna Industrija Srbije (NIS) due to the threat of U.S. sanctions. NIS is majority-owned by the Russian companies Gazprom Neft and Gazprom.
April 10, 2025
Austria's Verbund Takes Over 272 MW Wind Project in Romania
The partly state-owned Austrian energy group Verbund has acquired a fully developed wind power project with a capacity of 272 megawatts (MW) from the Monsson Group via its Romanian subsidiary Verbund Wind Power Romania. The project is located in Caraș-Severin County in southwestern Romania and is expected to drive forward the energy transition in Europe.
April 10, 2025
FACC Recovers Millions Lost in Sophisticated Fraud Scheme: Spotlight on China’s Role in International Asset Recovery
Austrian aerospace manufacturer FACC, based in Ried im Innkreis, has finally recovered €10.8 million, nearly a decade after falling victim to one of the largest corporate fraud cases in the country's history. The case, which involved deceptive emails, impersonation of top executives, and complex international money transfers, not only reshaped the company’s internal controls but also tested the limits of global legal cooperation—especially between Austria and China, where a portion of the stolen money had been frozen for years.
April 10, 2025
Austrian Securities Ownership Reaches New Heights
A recent survey reveals a significant increase in the number of Austrians investing in securities, highlighting a shift towards private pension planning amid economic challenges.
April 9, 2025
René Benko Remains in Pre-Trial Custody: Investigations Against Signa Founder Widen
The Regional Court for Criminal Matters in Vienna has extended the pre-trial detention of Austrian real estate entrepreneur René Benko by a further two months. The court cited the continuing danger of the offense as the reason for this.
April 7, 2025
China's Ambassador QI Mei in Dialogue with Austrian Parliamentary Leadership
The Chinese Ambassador to Austria, QI Mei, held important diplomatic talks with leading representatives of the Austrian Parliament to further deepen bilateral relations between China and Austria. Within a few days, the Ambassador held talks with the two top representatives of the Austrian legislature - National Council President Dr. Walter Rosenkranz and Federal Council President Dr. Andrea Eder-Gitschthaler.
April 6, 2025
Strengthening Neighbourly Ties: Swiss Ignazio Cassis Receives Austrian Foreign Minister Meinl-Reisinger
Despite a time of increasing geopolitical challenges, the traditional neighborly dialogue between Switzerland and Austria is gaining importance. Against this backdrop, a bilateral working meeting took place in Bern between Austrian Foreign Minister Beate Meinl-Reisinger and her Swiss counterpart, Federal Councillor Ignazio Cassis. The meeting aimed to deepen existing relations and discuss joint solutions for current political and security policy issues.
April 6, 2025
China's Ambassador Visits the Austrian Theatres-Holding in Vienna
The recent visit of Chinese Ambassador Qi Mei to the Bundestheater-Holding underlines the increasing importance of cultural exchange between Austria and China. The focus is on joint theater projects, artist exchanges, and the strengthening of bilateral relations in the performing arts.
April 2, 2025
Austria's Budget Crisis: Between Austerity Measures and Deficit Procedures
The Austrian government is facing one of the biggest financial challenges in recent years: the budget deficit, originally estimated at 6.4 billion euros, has almost doubled according to current forecasts and could reach up to twelve billion euros. This dramatic development forces the coalition of ÖVP, SPÖ, and NEOS to rethink their austerity plans and possibly face an EU deficit procedure.
March 31, 2025
Economic Forum in Vienna: Poland and Austria in Dialogue on Security and Economy
As part of the Polish EU Council Presidency, the high-caliber forum “Ensuring Security and Freedom of Business - Polish and Austrian Perspectives” took place at the headquarters of the Austrian Federal Economic Chamber (WKÖ). The event, which was organized by the Polish Embassy in Vienna in cooperation with the WKÖ, brought together over 130 representatives from public institutions, business organizations, and various industries from both countries. The event aimed to discuss current challenges and opportunities in the areas of energy security, digital transformation, and economic policy at the EU level.
March 19, 2025
The Austrian Institute of Technology Aims to Become a Leading Institution in Applying Modern AI Methods
The Austrian Institute of Technology (AIT) is pursuing ambitious goals: It wants to establish itself as a leading institution for applying modern artificial intelligence (AI) methods. At the heart of this strategy is the “AI Factory Austria” (AI:AT), a flagship project to strengthen the Austrian AI sector and promote the country's technological sovereignty. With European co-financing and broad support from business and science, the initiative is seen as a milestone for Austria as a location for innovation.
March 19, 2025
Steyr Motors Flying High: Defense Business and Expansion Drive Growth
The Austrian specialty engine manufacturer Steyr Motors is experiencing a remarkable economic upswing. Thanks to the increased demand for military technology, in particular high-performance engines for armored vehicles and special boats, the company was able to significantly increase its sales and profits. In addition, consistent expansion in Asia, the Middle East, and North Africa is ensuring further growth.
March 18, 2025
Austrian Chancellor Stocker and Austrian EU Commissioner Brunner Discuss New EU Migration Policy
Chancellor Christian Stocker received EU Commissioner Magnus Brunner for a meeting at the Federal Chancellery. The meeting focused on measures to combat irregular migration and the reform of the European asylum system. Brunner recently presented a new proposal for an EU Return Regulation, which provides for more efficient deportations and establishing return centers outside the EU. Austria and Stocker have signaled their support for this initiative to their party colleague and are pushing for its swift implementation.
March 18, 2025
Visit to Kyiv by Austrian Foreign Minister Meinl-Reisinger Reaffirms Solidarity With Ukraine
Foreign Minister Beate Meinl-Reisinger traveled to the Ukrainian capital, Kyiv, with a clear message of support. There, she met Ukrainian President Volodymyr Zelenskyy and other high-ranking government representatives to reaffirm Austria's solidarity and diplomatic long-term support in the fight against the Russian war of aggression.
March 17, 2025
Austrian Bishops' Conference Meets in Hungary for the First Time Without Cardinal Schönborn
For the first time in its history, the Austrian Bishops' Conference is holding its spring plenary meeting at the Benedictine Archabbey of Pannonhalma in Hungary. Following the resignation of Cardinal Christoph Schönborn, he will no longer be attending the meeting. He will be replaced by the Apostolic Administrator Josef Grünwidl.
March 14, 2025
Austria Plans Decision on Long-Range Missile Defense by 2028
The Austrian government has set itself the goal of making a decision on the acquisition of a long-range air defense system by 2028.
March 14, 2025
Increasing Risk of Espionage for Austrian IT Companies
Austrian companies are increasingly being targeted by foreign intelligence services. According to a recent study by the Directorate of State Security and Intelligence (DSN) in the Ministry of the Interior, which was carried out in cooperation with the Chamber of Commerce and the Federation of Austrian Industries, almost one in ten companies stated that they had already been the victim of espionage. The IT sector is particularly affected. Experts also assume that the number of unreported cases is high.
March 13, 2025
Austria Threatened by Recession: Finance Minister Marterbauer Warns of Difficult Year Ahead
Finance Minister Markus Marterbauer (SPÖ) made a grim forecast for the Austrian economy at a meeting of the EU Economic and Financial Affairs Council (ECOFIN) in Brussels. According to Marterbauer, the country must expect a recession in 2025. This could have far-reaching consequences for the budget and the government's ability to act financially. Despite this negative development, the federal government is sticking to its goal of avoiding an EU deficit procedure.
March 12, 2025
Russian Ambassador Lyubinsky Sharply Criticizes Austria
The Russian Ambassador to Austria, Dmitry Lyubinsky, delivered a speech before the members of the "Society for Friendship with Austria" (ROO). The event, originally intended to promote cultural and civil society exchange, turned into a sharp political reckoning with the Austrian government.
March 11, 2025
Vienna Stock Exchange Reviews 2024 with Record-Breaking Developments and Strategic Initiatives
The year 2024 will go down in the history of the Vienna Stock Exchange as a year of upswing and trend-setting developments. After a rather subdued previous year, the Austrian capital market recorded impressive growth figures in several areas. Particularly noteworthy are the significant increase in share turnover, a new record for bond listings, and the implementation of strategic measures to further strengthen the Vienna Stock Exchange as an important financial center in Europe.
March 11, 2025
Austrian Leading Index Exceeds 10,000 Points for the First Time
The ATX Total Return, Austria’s leading index, reached a historic high, surpassing the 10,000-point mark for the first time and closing at 10,100.07 points.
March 10, 2025
Austrian FM Meinl-Reisinger Signals European Cooperation with her First Trip Abroad
With her first foreign trip to Brussels, Austria’s new Foreign Minister, Beate Meinl-Reisinger, has sent an unequivocal signal for European cooperation. In discussions with the High Representative of the Union for Foreign Affairs and Security Policy, Kaja Kallas, and EU Commissioner for Migration and Home Affairs, Magnus Brunner, the focus was on the close cooperation between Austria and the EU.
March 9, 2025
