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Oligarchs and Their Real Estate: How Effectively Is Austria Implementing the Russia Sanctions?
Almost three years after Russia's invasion of Ukraine, experts and politicians are puzzled as to how seriously Austria is implementing the EU sanctions against Russian oligarchs. Research shows that only nine properties have been frozen in this country, while other EU states are more transparent with their measures and enforce them more strictly.
February 17, 2025
Embassy of Kosovo in Vienna Celebrates Independence Through Literature
The Albanian Writers and Creators Association in Austria, "Aleksandër Moisiu," recently hosted a literary event in Vienna to celebrate the anniversary of Kosovo’s independence. Organized in cooperation with the Embassy of Kosovo, the gathering brought together diplomats, writers, and literary enthusiasts to highlight the role of literature in preserving cultural identity and fostering connections within the Albanian diaspora.
February 17, 2025
EAVISTA Takes Over card complete: Bank Austria and RBI Sell Their Shares
The Austrian credit card company card complete Service Bank AG has a new majority shareholder. UniCredit Bank Austria and Raiffeisen Bank International (RBI) have sold their shares in the company to EAVISTA Beteiligungsverwaltungs GmbH.
February 17, 2025
Deadly Knife Attack in Villach: 14-Year-Old Killed, Five Injured
A shocking knife attack in Villach, Austria, has left a 14-year-old boy dead and five others injured. The attack, which occurred on the afternoon of February 15, was carried out by a 23-year-old Syrian man who, according to authorities, may have been radicalized through online platforms.
February 17, 2025
Failure of the Coalition Negotiations Between the FPÖ and ÖVP: Relieving Reactions and a Sobering Outlook
The coalition negotiations between the Freedom Party of Austria (FPÖ) and the Austrian People's Party (ÖVP) have failed. Following a meeting with Federal President Alexander Van der Bellen, FPÖ leader Herbert Kickl announced that he had resigned from the government. The main point of contention was the distribution of ministries, particularly the interior and finance portfolios, which both parties claimed for themselves.
February 13, 2025
Surge in Demand for Houses as Prices Decline Across Austrian Regions
Austria’s real estate market underwent a dynamic transformation in 2024, marked by a significant surge in the demand for single-family homes alongside fluctuating property prices across the country. While potential homeowners increasingly entered the market, drawn by improved financing conditions and relaxed credit regulations, regional price trends revealed a complex picture.
February 12, 2025
European Commission Sues Seven Member States Including Austria for Failure to Implement the NPL Directive
The European Commission has filed a complaint against Austria and six other EU Member States with the European Court of Justice (ECJ). The reason: these countries have not transposed the EU Non-Performing Loans (NPL) Directive into national law on time.
February 12, 2025
Coalition Negotiations in Austria Failed: Political Future Uncertain
Austria is facing a political turning point: after weeks of negotiations, talks between the Freedom Party of Austria (FPÖ) and the Austrian People's Party (ÖVP) have broken down. The talks thus met the same fate as those between the ÖVP, SPÖ, and NEOS. With the collapse of the negotiations, the question now arises as to how things will continue politically and whether a new election is inevitable.
February 12, 2025
Steyr Arms Pushes Expansion - Austria as a Location in Danger?
The Austrian arms manufacturer Steyr Arms, part of the Czech investment group RSBC since 2024, is planning extensive expansion in the US and European markets. At the same time, the site in Austria is coming under pressure as export licenses are being delayed. While the company management wants to secure the future of the traditional business with new strategic decisions, a relocation could be considered.
February 11, 2025
Austria at Unprecedented Low in International Corruption Ranking
Political scandals, a lack of transparency and structural deficits have brought Austria to a new low in the international corruption index. Transparency International is sounding the alarm and calling for far-reaching reforms to restore trust in the rule of law.
February 11, 2025
Science Books of the Year: The Winners Announced
The results of Austria’s Science Book of the Year have been announced, recognizing works that present scientific topics in an accessible and engaging way for the general public. With over 8,000 votes cast, the awards reflect continued public interest in science communication and education.
February 11, 2025
Austria’s Population Approaches 9.2 Million, Growth Slows in 2024
Austria's population continues to grow, but at a noticeably slower pace than in recent years. While Vienna remains the primary driver of population growth, with the highest increase among all federal states, other regions like Burgenland experienced slight declines. The data also reveals a growing proportion of foreign nationals, now accounting for over 20% of Austria’s population.
February 11, 2025
Chancellor and Foreign Minister Schallenberg Met with "Friends of the Western Balkans" Group and Prime Minister Meloni in Rome
Austrian Chancellor and Foreign Minister Alexander Schallenberg reaffirmed Austria's commitment to regional stability and European unity during meetings in Rome. Engaging with both the "Friends of the Western Balkans" group and Italian Prime Minister Giorgia Meloni, Schallenberg emphasized the strategic importance of EU enlargement and the necessity of fostering robust bilateral relations with key European partners.
February 10, 2025
Construction Prices 2024 in Austria: Moderate Increase Despite Tense Situation in the Construction Industry
Construction prices in Austria rose moderately by 1.3% in 2024 compared to the previous year. This was announced by Statistics Austria in its latest report. While price increases eased over the year, the economic situation in the construction industry remains challenging. Residential construction in particular is suffering from high construction and financing costs, which could have a long-term impact on the labor market and future housing supply.
February 10, 2025
Austria's Initial Federal Deficit for 2024 Better Than Expected
Austria's federal deficit for 2024 ended up being 1.7 billion euros lower than initially forecast, standing at 19.1 billion euros. This positive outcome comes despite economic challenges, with lower-than-expected government spending helping offset revenue shortfalls.
February 9, 2025
Increase in Business Insolvencies in Austria Amid Economic Challenges
Austria's business landscape saw a challenging year in 2024, with a significant increase in corporate insolvencies driven by economic factors such as rising inflation, recession, and the end of pandemic-related support. While businesses struggled, a notable rise in new company formations offered a mixed picture.
February 9, 2025
Austria Opens New Cultural Forum in Sofia
The Austrian Cultural Forum was officially opened in Sofia. With the inauguration of this new center for art and culture, Austria is sending a further signal for bilateral exchange with Bulgaria and for its commitment to cultural diplomacy.
February 7, 2025
Minister and Chancellor Schallenberg Met with his Luxembourgian Counterpart
Austria and Luxembourg have reaffirmed their commitment to maintaining a rule-based international order. This was the central theme of a recent bilateral meeting between Austrian Chancellor and Foreign Minister Alexander Schallenberg and Luxembourg’s Deputy Prime Minister and Foreign Minister Xavier Bettel in Vienna. The discussions underscored the importance of diplomatic dialogue and international cooperation in addressing pressing global issues.
February 6, 2025
Scientists Warn Against Potential FPÖ-Led Government
Fearing for the country's democratic foundations and the integrity of its research institutions, leading scientists and scholars have united their voices in an open letter against a potential FPÖ-led Government. Their message is clear: the future of Austria’s liberal democracy, human rights, and academic freedom hangs in the balance.
February 6, 2025
A Sign of Friendship: The New Year's Meeting of the Austrian-Polish Society in Vienna
Bilateral relations between Austria and Poland are an important pillar of European cooperation and thrive not only through diplomatic meetings, but also through cultural and scientific exchange. The New Year's meeting of the Austrian-Polish Society in Vienna was an impressive example of how tradition and a vision for the future come together in a festive setting.
February 6, 2025
Labor Market in Austria 2024: Number of Vacancies Significantly Decreased
The Austrian labor market is facing an apparent contradiction: while companies are complaining about an acute shortage of skilled workers, vacancies fell significantly in 2024. Rising unemployment figures meet unfilled positions, and many industries are struggling with economic uncertainties. What is behind this development?
February 6, 2025
Austria's Federal President Van der Bellen Calls on Diplomacy for Unity
In his traditional speech at the New Year's reception for the diplomatic corps in Vienna's Hofburg, Austrian President Alexander Van der Bellen highlighted the challenges of the current global situation. He emphasized the need for closer international cooperation, warned against increasing disinformation, and called for greater efforts to combat the climate crisis.
February 5, 2025
Chinese New Year Celebrations Strengthen Chinese-Austrian Friendship
The Chinese New Year was celebrated in Vienna with festive events underscoring the close diplomatic and cultural ties between China and Austria. The celebrations attracted not only high-ranking political representatives but also numerous members of the Chinese community and interested Viennese.
February 5, 2025
Austria Commemorates the 80th Anniversary of Auschwitz Liberation
January 27, 2025, marked the 80th anniversary of the liberation of Auschwitz-Birkenau, the largest Nazi concentration and extermination camp. This milestone was being observed with solemn ceremonies in Austria and at the historic site in Poland, where world leaders, Holocaust survivors, and dignitaries gathered to honor the victims and reinforce the commitment to remembrance.
February 5, 2025
Austria and Liechtenstein Take Over EUSALP Chairmanship
In 2025, Austria and Liechtenstein have taken on the co-chairmanship of the EU Strategy for the Alpine Region (EUSALP), a framework that fosters cross-border cooperation among seven countries and 48 regions. With a focus on sustainability, innovation, and resilience, this initiative aims to ensure that the Alpine region remains a thriving and livable space for future generations.
February 5, 2025
Austria Welcomes the World: FIS Alpine Ski World Championships 2025 Kick Off in Saalbach
Saalbach-Hinterglemm has once again become the epicenter of the alpine skiing world as the FIS Alpine Ski World Championships 2025 officially begin. With athletes, fans, and officials from across the globe gathering in the Austrian Alps, the event promises thrilling races, unforgettable moments, and a celebration of winter sports excellence.
February 4, 2025
Austria’s Fight Against Cancer: Progress and Challenges on World Cancer Day
Cancer remains one of the most significant health challenges worldwide, affecting millions of people every year. In Austria alone, approximately 42,000 new cases are diagnosed annually, with around 20,000 deaths attributed to the disease. However, thanks to advancements in research, early detection, and innovative treatments, survival rates are steadily improving.
February 4, 2025
Coalition Negotiations Between FPÖ and ÖVP Enter Decisive Phase
The coalition negotiations between the Freedom Party of Austria (FPÖ) and the Austrian People's Party (ÖVP) are reaching a critical juncture. According to party sources, FPÖ leader Herbert Kickl and ÖVP chairman Christian Stocker are meeting today and tomorrow in a smaller circle for discussions. The goal is to overcome unresolved issues and lay the foundation for a joint government. However, differences remain significant.
February 3, 2025
Austria's Industry and Economy under Pressure: Economic Experts Discuss Solutions
The situation in Austrian industry has deteriorated continuously since mid-2021. The Federation of Austrian Industries (IV) is now issuing an urgent warning about the consequences of this development. “Industry is in a bleak situation,” explained IV chief economist Christian Helmenstein. There is no sign of a recovery shortly, which is seriously jeopardizing the competitiveness of the location and the prosperity of the country.
February 2, 2025
Suspected Terrorist from Austria: Investigation into Mecca Attack Raises Questions
The Directorate of State Security and Intelligence (DSN) has announced that no suspicious data was found on the seized laptop belonging to Hasan E., a 20-year-old from Lower Austria who allegedly carried out a terrorist attack in Mecca in March 2024. At the same time, the authorities rejected accusations that errors were made in the investigation.
February 2, 2025
Ex-ÖBB Boss Christian Kern Criticizes German Railways: “It Will Never Work Out Like This”
The ongoing problems at Deutsche Bahn (DB) are again causing sharp criticism. This time, the former head of the Austrian Federal Railways (ÖBB) and former Chancellor of Austria, Christian Kern, is unusually outspoken about the situation of the German state-owned company.
January 29, 2025
Australian Foreign Minister Penny Wong Meets Austrian Chancellor Schallenberg in Vienna
Austria's Foreign Minister and interim Chancellor Alexander Schallenberg received his Australian counterpart Penny Wong for a bilateral working meeting in Vienna. This high-level visit marks another milestone in the strategic cooperation between Austria and Australia, which has been steadily deepening since the signing of the Agreement on Strategic Cooperation (ASCo) in 2021.
January 28, 2025
Austria's Security Situation: Publication “Risk Report 2025” Presented
The Federal Ministry of Defense presented the publication “Risikobild 2025 - Gewählt! Democracy and the free world”. This annual analysis highlights the greatest security policy challenges facing Austria and Europe in the coming months. With contributions from numerous experts, the publication provides a comprehensive overview of risks such as the erosion of the rules-based world order, hybrid threats, and the consequences of the so-called “super election year 2024”.
January 27, 2025
Talks Between Austria and the Taliban on Deportations to Afghanistan
The Austrian Ministry of the Interior has held talks at the official level with representatives of the Taliban regime in Afghanistan to explore the possibility of returning rejected asylum seekers. A delegation consisting of two high-ranking officials from the ministry was in the Afghan capital Kabul for this purpose.
January 24, 2025
Meet the Ambassador of the French Republic to the Republic of Austria
Matthieu Peyraud, France's Ambassador presented his credentials to Austria's Federal President Alexander Van der Bellen in Vienna. Meet Matthieu Peyraud the ambassador of the French Republic to Austria.
January 21, 2025
Austria's Finance Minister Mayr Must Explain Letter to Brussels in Austrian Parliament
Finance Minister Gunter Mayr is facing a political test. At the initiative of the SPÖ, the Standing Subcommittee on EU Affairs must meet to discuss the letter with which the coalition negotiators wanted to avert the threat of deficit proceedings by the EU. According to regulations, the meeting must take place within the next two weeks. The focus will be on the planned austerity measures amounting to 6.4 billion euros outlined in the letter to the EU Commission.
January 21, 2025
Austria Signs Letter of Intent for Southern Hydrogen Corridor
In a pioneering initiative, Austria, Italy, Germany, Algeria, and Tunisia signed a declaration of intent for the construction of the “SouthH2 Corridor” in Rome today. This pioneering infrastructure project will transport green hydrogen from North Africa to Europe over a distance of 3,300 kilometers and make the continent's energy supply more sustainable and independent.
January 21, 2025
Austria's Foreign Minister Schallenberg Awarded “Arms Control Person of the Year”
A significant success for international diplomacy: Foreign Minister Alexander Schallenberg and the Austrian Foreign Ministry have been named “Arms Control Person of the Year” in 2024 by the renowned US Arms Control Association (ACA). This prestigious award recognizes the special commitment of Schallenberg and his team to the regulation of autonomous weapons systems (AWS) as well as the organization of the Vienna conference “Humanity at the Crossroads: Autonomous Weapons Systems and the Challenge of Regulation”.
January 15, 2025
Austria and Ukraine Deepen Partnership in Culture, Education and Science
Ambassador Christoph Thun-Hohenstein, Head of the Section for Foreign Culture at the Austrian Foreign Ministry, and Ukrainian Ambassador Vasyl Khymynets sealed a forward-looking agreement with a handshake. For the first time, a comprehensive bilateral work program for cooperation in the fields of culture, education, and science was adopted. At a time of geopolitical challenges, this initiative is an important signal of solidarity and the common will to shape the future.
January 15, 2025
Greens Launch Petition for the Preservation of the Climate Ticket
The Greens have today launched a petition to preserve the climate ticket in its current form. The background to this is speculation that a possible FPÖ-ÖVP coalition is planning to cancel or restrict the annual ticket for Austria's public transport system.
January 15, 2025
Austria Confirms Brussels Budget Negotiations and Resilience of International Partnerships
Over the past few days, Austria has been at the center of European attention in several respects. While Finance Minister Gunter Mayr presented a new budget path in Brussels, interim head of government Alexander Schallenberg focused on strengthening international relations during his inaugural visit to the EU. Both developments are crucial for Austria's role within the European Union.
January 13, 2025
Susanne Raab: Austria's Candidate for the Head of the ICMPD
The Austrian Federal Minister for Women, Family, Integration, and Media, Susanne Raab, has officially announced her candidacy as Director General of the International Center for Migration Policy Development (ICMPD). After the end of the current government, Raab intends to continue her career at the international level. The election for the new head of the ICMPD will take place in spring 2025 by the representatives of the 21 member states.
January 12, 2025
Standstill in Government Formation: Kickl and the FPÖ on the Way to Forming a Government
Following the failure of the coalition negotiations between the ÖVP, SPÖ, and NEOS, Austrian President Alexander Van der Bellen has given the task of forming a government to FPÖ party leader Herbert Kickl. For the first time in the history of the Second Republic, the Freedom Party has been given the task of forming a federal government. This heralds a new phase in the political landscape in Austria, which is causing a stir both nationally and internationally.
January 7, 2025
Signa Development Selection and Signa Prime: Real Estate Giants on the Brink
The Supreme Court's (OGH) decision to reject the appeal on points of law by Signa Development Selection AG and a German investor has closed another chapter in the liquidation of René Benko's billion-euro real estate group. Previously, the restructuring plan for Signa Prime, another central company of the group, had already failed. The insolvency of the Signa Group represents one of the biggest economic crises in Austria's history.
December 30, 2024
Japan's Ambassador Ryuta Mizuuchi Ends his Term of Office in Austria
A total of 167 guests from the worlds of politics, diplomacy, business, culture, and science gathered at the Hotel InterContinental Vienna to bid a worthy farewell to the Japanese Ambassador H.E. Ryuta Mizuuchi and his wife Dr. Akemi Mizuuchi.
December 22, 2024
The Marsalek Espionage Case: A Web of Intrigue and Agents
The espionage affair surrounding former Wirecard manager Jan Marsalek has developed into one of Europe's biggest secret service scandals. New revelations show how deep and widely ramified the network of the fugitive manager, who is said to be operating on behalf of Russian intelligence services, is. The case reveals not only a complex network of agents and connections but also an alarming security situation in Austria and beyond.
December 22, 2024
Austria's Schallenberg Calls for New EU Course in Syria and Criticizes Israeli Occupation
Austria's Foreign Minister Alexander Schallenberg (ÖVP) is calling for a more pragmatic approach from European foreign policy in dealing with Syria and is positioning himself on the side of international law with his criticism of Israel's occupation of the Golan Heights. His demands have met with mixed reactions within the EU, but also raise fundamental questions about Europe's role in the region. Whether this course will endure remains uncertain given Austria's often cautious foreign policy.
December 18, 2024
Poland and Austria Network in the Field of Fintech and Finance
The Polish Embassy in Vienna hosted the conference “Poland and Austria: cooperation and exchange of expertise. Fintech and finance” took place. The event brought together many experts, industry representatives, and decision-makers from Poland and Austria. The aim was to network the dynamically growing Polish fintech sector with the stable and well-regulated Austrian financial market and explore potential cooperation areas.
December 18, 2024
Austria and Nauru: Working Together to Tackle Global Challenges
Austrian Foreign Minister Alexander Schallenberg and his Nauruan counterpart Lionel Rouwen Aingimea met in Vienna for a bilateral meeting. Topics such as climate change, the geopolitical situation in the Indo-Pacific, and global security issues took center stage.
December 17, 2024
Further EU Infringement Proceedings Initiated Against Austria
The European Commission has initiated further infringement proceedings against Austria. The reason: is non-compliance with EU regulations on the recognition of professional qualifications. The Commission sees this as violating the rules intended to make it easier for freelancers and employees to work temporarily and occasionally in other Member States.
December 16, 2024
