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New Management for Microsoft Austria
With Georg Obermeier, the Austrian subsidiary of the U.S. software group has a new executive.
January 14, 2012
Investments in Wind Power to Increase Substantially
In 2012, the Austrian wind power production will be enlarged by 33%. Investments of € 620m are expected.
January 14, 2012
Austrian Hotel Industry Under Pressure
Over the last years, the domestic hotel industry improved its size, capacity utilization and revenues. However, costs are rising massively.
January 14, 2012
Downgrade: Government Surprised and Criticized
For the Austrian government, the downgrade by the U.S. rating agency is „not comprehensible”. The domestic industry urgently claims structural reforms.
January 14, 2012
OMV: Libyan Oil Production at 60% of Pre-War Level
The Austrian OMV produces 19,000 barrels per day in Libya. Production can be improved steadily. A Romanian refinery will be sold to the Romanian state.
January 13, 2012
Feared Export Slump Did Not Occur
The Austrian export activity slowed down in the fourth quarter, but the pessimistic expectations did not become real. In 2011, Austrian exports were up by 12%.
January 13, 2012
OMV Starts Downsizing Operations
The Austrian oil and gas company starts to reduce the weighting of the Refining and Marketing (R&M) business segment in the overall portfolio.
January 13, 2012
Central European Gas Hub Sets a New Record in Gas Trading
Trading volume of the Austrian gas hub rose to 40 billion cubic metres in 2011. This is an increase by 15% compared to the previous year.
January 13, 2012
Exit in Hungary Would be Expensive
In case of leaving the Hungarian market, Austrian banks would face enormous costs, says Citigroup.
January 13, 2012
Unions Protest Against AUA´s Plans
Austrian trade unions are strictly against new austerity measures at Austrian Airlines. Management wants to negotiate over new collective agreements.
January 12, 2012
Lenzing Continues Supply to U.S. Army
U.S. President Obama signs permanent import approval allowing the Austrian Lenzing AG to supply flame-resistant fibers to the U.S. Army.
January 12, 2012
Austrian Banks Must Downsize in Hungary
Erste Group and Raiffeisen Bank International (RBI) must streamline their operations. Nevertheless, a further capital increase could become necessary.
January 12, 2012
Dotter Takes Over Management of Alpine
The second-largest Austrian construction company has a new Chief Executive Officer, the 50-year-old Johannes Dotter.
January 12, 2012
Agrana Achieves Significant Rise in Earnings
The Austrian fruit and starch company posts its results for first three quarters of 2011|12. Revenues were up from € 1.62bn to € 1.95bn.
January 12, 2012
Pressure on Hungary Increases
The chairman of the Austrian Central Bank, Ewald Nowotny, sees no danger for Austrian banks from Hungary. EU and IMF criticize the Hungarian government.
January 11, 2012
Zotter Sounds Chinese Market
The Austrian chocolatier Josef Zotter wants to offer his products to Chinese customers. A market entry is considered.
January 11, 2012
Pankl Takes Over German Automotive Company
The Austrian automotive and racing company Pankl acquires the German specialist Huber, which is located in Munich.
January 11, 2012
3.4% Passenger Increase for AUA
According to Austrian Airlines traffic results, more than 11 million passengers were carried in 2011.
January 11, 2012
Immofinanz Repays € 77.6m in Convertible Bonds
The Austrian real estate group announces the end of the put period for premature redemption of the 2014 convertible bond.
January 11, 2012
Austrian Wage Tax Intake Grows
The Austrian wage tax volume totaled 21.6bn in 2010. Gross wages were up by 2.5%.
January 11, 2012
OMV Condemned by Antitrust Authorities
Petrom, a subsidiary of the Austrian oil and gas company has to pay a € 85.2m fine in Romania.
January 11, 2012
Austrian Airlines Records High Losses
Against previous expectations, the Austrian subsidiary of Lufthansa could not improve its results in 2011 compared to 2010.
January 10, 2012
Economic Inequalities between Austrian Regions
Urban regions record a significantly higher income. The economic crisis caused a decline in gross regional product and disposable income in 2009.
January 10, 2012
CA Immo Secures Refinancing for Project in Budapest
The Austrian real estate company CA Immo has agreed on refinancing for an office building in Budapest with Bank Austria. The investment totals € 27.0m.
January 10, 2012
Wienerberger Issues Corporate Bond
The Austrian brick producer will issue bonds of at least € 50m in order to refinance liabilities.
January 10, 2012
Dismal Prospects for Construction Industry
According to WIFO (Austrian Institute of Economic Research), the Austrian construction industry will face stagnation in 2012.
January 9, 2012
Hungarian Crisis: BIS Warns Austria Insistently
A collapse of the Hungarian economy would hit Austria very hard, says the Bank for International Settlements (BIS). Austrian Banks have a high exposure.
January 9, 2012
Immofinanz Closes Leasing Contract With Leonardo Hotels
The Austrian real estate group enters an agreement with the German subsidiary of the Israeli Fattal International Hotel Chain.
January 9, 2012
ÖVP Does Not Exclude New Taxes Anymore
Against previous statements, the head of the Austrian conservatives, Michael Spindelegger, considers to introduce new taxes.
January 9, 2012
Austrian Balance of Current Accounts Positive
In the first three quarters of 2011, the Austrian economy achieved a strong performance. The balance of current accounts was significantly positive.
January 9, 2012
Petrom and Exxon Explore in Black Sea
Petrom, the Romanian subsidiary of the Austrian oil and gas group OMV, closed a partnership with the U.S. oil group ExxonMobil.
January 9, 2012
Major Order for Strabag in Poland
The Austrian construction group strengthens its market position in Polish transportation infrastructures segment with a € 254m order.
January 9, 2012
Agrana Sues Chinese Yantai North Andre Juice.
The Austrian sugar and starch company claims $ 9.8m from the Chinese Yantai North Andre Juice.
January 9, 2012
Austerity Package: AUA in Difficulties
The implementation of further austerity measures faces resistance. Moreover, competition for Austrian Airlines becomes even stronger.
January 7, 2012
„Not Talking Down Austerity Policy“
Bernhard Felderer, head of the Austrian Institute of Advanced Studies (IHS), warns daily issued ideas for new taxes. First signs of a recovery are arising.
January 7, 2012
ATX: Andritz Becomes Number 4
The Austrian technology company Andritz could raise its weight in the prime market of the Austrian Traded Index. Erste Group and Raiffeisen lost massively.
January 7, 2012
Austria Grants Highest Subsidies in Europe
In 2010, subsidies amounting to 6.5% of the Austrian GDP were distributed. The EU-average is only the half.
January 7, 2012
Austrian Banks Have $ 41.0bn Exposure in Hungary
After another downgrade, a national bankruptcy of Hungary is not excluded anymore. Consequences for Austrian banks would not be foreseeable.
January 7, 2012
Austrian Has Lowest Unemployment Rate in EU
Euro area unemployment rate at 10.3%, EU27 at 9.8%. Austria ranks first with 4.0%. Regarding youth unemployment, only the German unemployment rate is lower.
January 7, 2012
AUA to Implement Drastic Cost Cuts
Austrian Airlines, a subsidiary of German Lufthansa, is said to cut costs drastically. Old planes will not be replaced anymore.
January 5, 2012
Rise in Private Insolvencies in 2011
Austrian private insolvencies rose by 4.0% in 2011. 9,600 persons were concerned.
January 5, 2012
Zero Growth in Austrian Trade Sector
The Austrian trade sector closes the year 2011 with “zero growth”. The Chamber of Commerce expects “very difficult times” for 2012.
January 5, 2012
„We Are at the Tipping Point“
2012 will be a crucial year for Europe and Austria, says the director of the Austrian Institute of Economic Research (WIFO). The coming decade will be coined by debt reduction.
January 5, 2012
T-Mobile and Hutchinson 3G Become Partners
The Austrian subsidiary of the German T-Mobile and the Chinese Hutchinson 3G closed an agreement over a long-term grid partnership.
January 5, 2012
Germany Calls for Austrian Electricity
In order to guarantee stability of the German power grid, Austria has to export more electricity to Germany.
January 5, 2012
Austrian Economy Pushes for Austerity
In order to prevent new taxes, the Austrian Chamber of Commmerce and the Federation of Industries call for austerity measures.
January 5, 2012
Hungary Becomes Fundamental Risk Factor for Austrian Banks
Over the last weeks, fears of a Hungarian bankruptcy grew drastically. The Hungarian Forint has reached a new record low.
January 5, 2012
Wettpunkt Invests in Croatia
The Austrian betting company expands its operations in Croatia. Investments of € 10m were announced.
January 4, 2012
Rising Costs for Labor Market Service
The Austrian Labor Market Service (AMS) offered less trainings in 2011. However, costs rose up to € 455m. The AMS management faces critics.
January 4, 2012
Thomas Cook Austria Achieves Record Result
The Austrian subsidiary of the Germany Thomas Cook AG recorded a rise in operating profits by 19% in 2011.
January 4, 2012
