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Opening of the Austrian Consulate General in Chengdu
Austria has set up a consulate general in Chengdu, capital of southwest China's Sichuan Province, with President Alexander Van der Bellen, Chancellor Sebastian Kurz and Foreign Minister Karin Kneissl attending the opening ceremony during their state visit to China. Van der Bellen also expressed his wish for a new male panda bear.
Relevance: 1.00 · April 12, 2018
Asylum Law: Duration of Proceedings at Austrian Supreme Courts Decreases
The duration of proceedings in asylum cases at the two Austrian Supreme Courts, Constitutional Court of Austria (VfGH) and Supreme Administrative Court of Austria (VwGH), is continuously decreasing.
Relevance: 1.00 · April 10, 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.
Relevance: 1.00 · May 2, 2018
Austrian Budget Airline LaudaMotion: Fighting the Top Dog Lufthansa
LaudaMotion is to become a powerful low-cost airline. Ryanair ultimately intends to acquire a 75 percent stake. From June 2018, a total of 65 routes are to be served from Vienna, from seven German airports (Berlin/Tegel, Cologne, Düsseldorf, Frankfurt, Munich, Nuremberg, Stuttgart) and from Zurich to the Mediterranean region and to the Canary Islands.
Relevance: 1.00 · March 30, 2018
Repatriation of Austrian Gold Reserves Nearing Completion
This year, and not in 2020, the OeNB Austrian National Bank is already concluding its repatriation campaign for half of its gold reserves. By the end of the year, 140 tonnes of gold are to be stored in Austria, with the other 140 tonnes remaining in London (84 tonnes) and Switzerland (56 tonnes).
Relevance: 1.00 · March 30, 2018
Austrian Support for Peace and Security Programm in Horn of Africa Region
Vienna based ADA - Austrian Development Agency signs an agreement on peace and security in the Horn of Africa with EU and IGAD (Intergovernmental Authority on Development). The EUTF - EU Emergency Trust Fund for Africa provides 40 million euros. 35 million of this will be made available to ADA and 5 million directly to IGAD. The ADA passes on one million euros to IGAD. The Swedish International Development Agency SIDA will also contribute one million euros..
Relevance: 1.00 · March 26, 2018
Expat Advise: How Does the Austrian Tax and Social Security System Work?
If you are moving to Vienna as an expat or are already living here with employment income and want to find your way around the complicated Austrian tax and social security system, Vindobona recommends attending an interesting event organised by the Vienna Business Agency and Deloitte Austria.
Relevance: 1.00 · March 22, 2018
Harvard Government Professor Michael Sandel to Lecture Austrian Opposition How to Win Back Popular Support
The election of Donald Trump was an angry verdict on decades of rising inequality and a version of globalization that benefits those at the top but leaves ordinary people feeling disempowered. American political philosopher and a political philosophy professor at Harvard University Michael J. Sandel will give a lecture on "Is Democracy in Peril? - Politics in the Age of Trump".
Relevance: 1.00 · March 29, 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.
Relevance: 1.00 · April 26, 2018
Leadership Change: Mahrer Follows Leitl as Austrian Chamber of Commerce President
Harald Mahrer, President designate of the WKO Austrian Federal Chamber of Commerce, will take over from acting President Christoph Leitl on 18 May.
Relevance: 1.00 · April 3, 2018
Austrian Delegation Seeks to Improve Economic and Political Relations with Jordan
An official visit of President Van der Bellen to Jordan will take place from 17 April to 19 April 2018. The delegation to Amman will be accompanied by an economic mission headed by WKO Vice President Richard Schenz. The economic mission of the WKO is the response of an invitation issued some time ago by the President of the Chamber of Commerce of the Kingdom.
Relevance: 1.00 · March 8, 2018
Extremism-Gate: Special Session of Austrian National Council Convened
The somewhat opaque events surrounding the house search of the Federal Office for the Protection of the Constitution and Counter-Terrorism (BVT) are now making political waves. It is deeply disturbing that a unit, which in itself is not responsible for this, is supposed to have carried out the house search at the BVT and allegedly took highly sensitive intelligence information with it. The matter stinks to high heaven. The Austrian opposition has convened the National Council. The parties SPÖ, NEOS and Liste Pilz (LP) demand that Interior Minister Herbert Kickl (FPÖ) provides a complete explanation.
Relevance: 1.00 · March 9, 2018
The Western Balkans Remain a Priority of Austrian Foreign Policy
Because of a common history and the tradition of political, cultural and economic relations, Austrian foreign policy has always attached particular importance to the Western Balkans. The primary goal of Austrian foreign policy is to support the transformation of the Western Balkans area into a zone of stability. From the Austrian perspective there is only one option for the Western Balkans: a full European integration of the region. However, the political commitment from the regions' leaders is expected.
Relevance: 1.00 · February 28, 2018
Austrian Government Presents Double Budget 2018/19: EU Requirements Are Met - 2019 Balanced Budget
The new Austrian government is planning a zero deficit for next year, Chancellor Sebastian Kurz (ÖVP) and Vice-Chancellor Heinz-Christian Strache (FPÖ) have announced. The planned reduction in corporation tax could be of interest to foreign investors and companies.
Relevance: 1.00 · February 28, 2018
Mainland Chinese Billionaire Guo Guangchang to Take Over Austrian Asset Wolford AG
Shanghai based Fosun Group through its Hong Kong (Central) vehicle Fosun Industrial Holdings Limited (Fosun) has taken over control of one of Austria's last remaining lingerie assets. According to Wolford, its new strategic core shareholder has agreed to pay at least €36M for a 50.87% majority stake in Wolford AG. Wolford has been struggling with management problems for some time. It also has been loss making for several years. Fosun Industrial Holdings Limited, a subsidiary of Fosun International Limited (British Virgin Islands) is an investment holding company with interests in asset management and entertainment services. Fosun wants full control of the lingerie maker. Upon the closing of the share purchase agreement Fosun intends to launch a takeover offer to the remaining shareholders. Fosun was co-founded in 1992 by Fudan graduate Guo Guangchang who meanwhile became the 34th richest person in China with a net worth of €7 billion.
Relevance: 1.00 · March 3, 2018
Bawag Pays €110M for Separation from Austrian Post
Bawag presents its preliminary figures for 2017. The net profit will amount to 466.6 million euros (-1.4 percent). Due to profits, there will be dividend payments to shareholders. The long-term distribution partnership with Austrian Post is to be terminated.
Relevance: 1.00 · February 28, 2018
Vienna Energy Forum and the R20 Austrian World Summit 2018: Feedback of a Participant
At the Vienna Energy Forum and the R20 Austrian World Summit recently held in Vienna, Beatriz Mayor of IIASA - International Institute for Applied Systems Analysis also participated, who shares her interesting insights as follows.
Relevance: 1.00 · June 6, 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).
Relevance: 1.00 · April 20, 2018
Austrian World Summit 2020 Was a Success
The Austrian World Summit 2020 was held in a mixture of analog and digital setting due to Covid-19, yet starred international personalities that all highlighted the importance of sustainability and the fight against climate change.
Relevance: 1.00 · September 17, 2020
Blow Against Austrian Tourism: Germany Declares Vienna a Corona Risk Area
Because of too high corona infection figures, the German government now warns against "unnecessary, touristic" trips to Vienna. Vienna is classified as a risk area in view of the high number of new corona infections.
Relevance: 1.00 · September 16, 2020
Austrian Foreign Ministry - Diplomatic Excursion 2019 to Lake Neusiedl
Foreign diplomats and heads of international organisations in Austria were invited by the BMEIA Federal Ministry for Europe Integration and Foreign Affairs to the annual summer excursion to Burgenland (Diplomatenausflug 2019).
Relevance: 1.00 · July 3, 2019
C-QUADRAT Investment AG / Austrian FMA clears majority takeover by HNA Group
The HNA Group (International) Asset Management Co., Limited ("HNA") was informed by the Austrian Financial Market Authority ("FMA") by letter dated 21.12.2017 that FMA had no objections against the proposed acquisition of 74.8% of the shares in C-QUADRAT and its supervised Austrian subsidiaries.
Relevance: 1.00 · December 22, 2017
Austrian Retail Association - Handelsverband raises alarm: every year 560 million Chinese parcels reach Europe without import VAT
More than 10 percent of Austrian retail sales are already generated online, which corresponds to around € 6.8 billion. The problem: half of this online turnover does not arrive at the domestic market, but flows abroad. Particularly problematic is the crossborder business with Asian traders and platforms, especially from China. Currently, 560 million parcels per year are sent to the European Union via Alibaba (AliExpress). 97 percent of these shipments are completely dutyfree and VATfree in the EU and a large part of the remaining 3 percent, at least without import duty.
Relevance: 1.00 · December 21, 2017
AUSTRIAN POST Q1-3 2017: HIGHER REVENUE AND EARNINGS
In the first three quarters of the current financial year, Austrian Post's Group revenue amounted to EUR 1,404.7m. Adjusted for the subsidiary trans-o-flex sold in April 2016, the revenue increase equals 2.1 %. On the basis of the good revenue development combined with strict cost discipline, operating earnings (EBIT) totalled EUR 139.9m, comprising a year-on-year rise of 3.3 %.
Relevance: 1.00 · November 15, 2017
Kommunalkredit issued the first Austrian Social Covered Bond
Kommunalkredit Austria AG (Kommunalkredit) today has successfully issued the first Austrian EUR 300 m Social Covered Bond with a tenor of 4 years and a coupon of 0,375 per cent. The issuance was preceded by a euro-wide roadshow. The issuance was significantly oversubscribed with the order book totaling EUR 531 m (from more than 40 investors). Kommunalkredit was also capable of broadening its investor base by this transaction. This bond has been the first issuance since the privatization of the Bank in 2015.
Relevance: 1.00 · July 4, 2017
Österreichische Post AG / AUSTRIAN POST Q1 2017: INCREASE IN REVENUE AND EARNINGS
In the first quarter of the current financial year, Austrian Post's Group revenue amounted to EUR 488.7m. Adjusted for the subsidiary trans-o-flex sold in April 2016, the revenue increase equals 4.0%. This positive development was strongly influenced by seasonal effects.
Relevance: 1.00 · May 12, 2017
Austrian Top Diplomat Walter Siegl Deceased
The Austrian Foreign Ministry mourns the loss of retired Ambassador and former Political Director Walter Siegl.
Relevance: 1.00 · July 19, 2019
Ursula von der Leyen Gets Johannes Hahn Proposed as Austrian EU Commissioner
Ursula von der Leyen was approved by the European Parliament as the next president of the European Commission. Her first, and very tricky, task is to assign jobs to the commissioners of each country. Johannes Hahn was again nominated by the main committee of the austrian parliament as the Austrian member of the next EU Commission.
Relevance: 1.00 · July 19, 2019
European Elections 2019: Austrian Preliminary Final Results
The preliminary result of the 2019 European elections (without absentee ballot) has been announced. The Austrian People's Party won clearly ahead of the Austrian Socialist Party (SPÖ) and the Austrian Freedom Party (FPÖ). The Greens and NEOS followed in places 4 to 5. Votes cast by absentee ballot are not yet included in this result. The turnout without postal votes was 50.6%. In Vienna, the turnout including postal votes was 58.71%.
Relevance: 1.00 · May 27, 2019
Austrian Government Dismissed: National Council Denies Government Confidence
The parliamentary motion of no confidence of the Social Democrats (SPÖ) was supported by the right-wing populist Freedom Party (FPÖ) and the Liste Jetzt. The majority of the members of the National Council thus expressed their distrust of Chancellor Kurz's government and removed it from office.
Relevance: 1.00 · May 27, 2019
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.
Relevance: 1.00 · 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.
Relevance: 1.00 · 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.
Relevance: 1.00 · May 11, 2018
Thomas Drozda Appointed New Federal Managing Director of Austrian Social Democratic Party
The former cultural manager, who was brought back into politics by Chancellor Christian Kern, will accompany the new party leader, Pamela Rendi-Wagner, as Federal Managing Director of the Social Democratic Party (SPÖ).
Relevance: 1.00 · September 26, 2018
Austrian Exports to the Palestinian Territories Better than Ever
Despite the current tensions between the State of Palestine and Austria over the participation of Ambassador Martin Weiss in the US Embassy Opening Ceremonies, the Austrian Foreign Trade Centers Amman and Tel Aviv are planning a Fact Finding Mission to Ramallah and Amman for the second half of 2018. Austrian exports of goods to the Palestinian Territories increased by +108% in 2017.
Relevance: 1.00 · May 17, 2018
Austrian Anadi Bank AG / Yearly Financial Report
Austrian Anadi Bank AG is declaring the following financial reports below:
Relevance: 1.00 · March 23, 2018
Austrian Attaché at Tel Aviv Embassy Poses in T-Shirt of Right-Wing Identitarians
Austrian Foreign Minister Karin Kneissl has recalled Jürgen-Michael Kleppich, Attaché at the Austrian Embassy in Tel Aviv. The reason for this are media reports that shortly after Kleppich moved to Israel in January 2018, he posted a picture of himself in a T-shirt from the shop of right-wing extremist Identitarian Movement on Facebook.
Relevance: 1.00 · March 22, 2018
Austrian Post - Revenue Increase of 2.3% for 2017 Expected
Austrian Post will publish the final results for the 2017 financial year on March 15, 2018. According to preliminary figures Austrian Post will present a slight revenue increase of 2.3% to EUR 1,939m compared to EUR 1,896m in the previous year. The Parcel & Logistics Division of Austrian Post reflects the developments in e-commerce. According to a market report by Branchenradar, Austrian Post expanded in the competitive parcel market. Its overall market share rose from 45% to 47% based on handling 97 million parcels in 2017 compared to 81 million parcels in 2016. Revenue increased by a 17.7% to EUR 496m in 2017 after EUR 421m in 2016. However, the Mail & Branch Network Division reported a 2.1% decline in revenue in 2017 (EUR 1,448m in 2017 after EUR 1,479m in 2016). Also in the mail business revenue decreased. This was primarily caused by the ongoing electronic substitution of letters.
Relevance: 1.00 · February 27, 2018
Californian Woman Can Not Take Austrian Railways to Court in the US
Supreme Court says, Carol Sachs who was heavily injured in Innsbruck can’t sue in the US. Her lawsuit against the Austrian national railroad ÖBB for injuries that she suffered while attempting to board a train in Austria does not fall within the “commercial activity” exception to the Foreign Sovereign Immunities Act, and is therefore barred by the doctrine of sovereign immunity. The American wanted USD 20 million compensation from ÖBB.
Relevance: 1.00 · December 2, 2015
Österreichische Post AG / AUSTRIAN POST IN 2016: STABLE REVENUE AND HIGHER EBIT
Austrian Post showed a very satisfactory development in the 2016 financial year. In spite of difficult conditions, Group revenue (adjusted for the disposed German subsidiary trans-o-flex) remained stable at a high level. Operating earnings were also gratifying against the backdrop of a challenging market environment. EBIT improved by 2.2% to EUR 202.3m.
Relevance: 1.00 · March 9, 2017
Österreichische Post AG / AUSTRIAN POST H1 2017: Higher Revenue and Earnings
In the first half of the current financial year, Austrian Post's Group revenue amounted to EUR 953.7m. Adjusted for the subsidiary trans-o-flex sold in April 2016, the revenue increase equals 1.9 %. Revenue in the mail business was down only slightly from the prior-year level although the trend towards electronic substitution of traditional letter mail continued.
Relevance: 1.00 · August 10, 2017
Expat Insider: The Hard-Working Austrian Expat
After sharing a detailed picture of life in Austria for the international expat, InterNations shares with you a picture of life abroad for the Austrian expat. It revolves around work, but getting to know new friends through work and a relatively high income sweeten the deal.
Relevance: 1.00 · August 27, 2015
Austrian President Fischer is First European Head of State to Visit Iran
Austrian President Heinz Fischer is the first European head of state to visit Iran following the successful conclusion of nuclear talks between the Islamic Republic and the P5+1.
Relevance: 1.00 · September 7, 2015
How Can Exporters Benefit from the "Go-International Initiative" of the Austrian Chamber of Commerce?
Even in a challenging global economic environment, exports remain the driving force behind the Austrian economy. The go-international initiative of the Austrian Chamber of Commerce encourages companies to step across the border by offering advisory services, events and support, as well as making it easier for existing exporters to enter additional foreign markets.
Relevance: 1.00 · October 19, 2015
Österreichische Post AG / AUSTRIAN POST Q1-3 2015: STABLE BUSINESS
DEVELOPMENT WITH A RISE IN REVENUE AND EARNINGS
Österreichische Post AG / AUSTRIAN POST Q1-3 2015: STABLE BUSINESS DEVELOPMENT WITH A RISE IN REVENUE AND EARNINGS
Relevance: 1.00 · November 12, 2015
Austrian Ministry of Foreign Affairs: Council of Ministers Places 27 New Diplomats at Head of Embassies
The Council of Ministers of the Austrian Ministry of Foreign Affairs has decided to place 27 new Austrian diplomats at head of Austrian Embassies worldwide.
Relevance: 1.00 · December 10, 2015
Austrian-Russian Friendship Society to Appoint Richard Schenz as New President
Dr. Richard Schenz has recently been appointed as new President of the Austrian-Russian Friendship Society (ORFG - Österreichisch-Russische Freundschaftsgesellschaft). He succeeds CEO Ludwig Scharinger who left office for health reasons. KR Sen.hc Richard Schenz is a Vice President of the Austrian Chamber of Commerce (WKO). He was formerly CEO of OMV and Capital Markets Advisor to the Austrian Minister of Finance.
Relevance: 1.00 · December 22, 2015
VSE: US Interest Rate Decision Likely to Increase Appeal of Austrian Stocks
The Vienna Stock Exchange can look back at a year of solid developments on the stock market in 2015. The uptrend in equity trading volumes has now been sustained for more than two years: trading volumes were up by 24.3%; the ATX gained 11.20%, and innovations in bond trading were the highlights of the year. Market capitalization on the Vienna Stock Exchange reached EUR 86.28 billion in December 2015. This was a gain of 7.86% over the year-end figure of 2014.
Relevance: 1.00 · December 18, 2015
India Forum at the Austrian Federal Chamber of Commerce
Recently the Foreign Trade Department of the Austrian Federal Economic Chamber organised an event focused on India. Entitled “Parameters for Your Success with Business in India”, the event counted with the participation of ca. 70 Austrian companies and entrepreneurs aiming for India or potentially being interested in doing business there.
Relevance: 1.00 · December 3, 2015
AUSTRIAN POST IN 2015: REVENUE INCREASE OF 1.6% - OPERATING EBIT UP2.6% - SALE OF TRANS-O-FLEX LED TO IMPAIRMENT LOSSES - STABLE OUTLOOK FOR 2016
Austrian Post recorded a solid operating performance in the 2015 financial year. In spite of challenging market conditions, Group revenue rose by 1.6% to EUR 2,401.9m.
Relevance: 1.00 · March 10, 2016
