EU European Union
ÖBB Promote Construction of the Brenner Tunnel
After the ÖBB detached themselves from the financing of the Brenner tunnel in February, an agreement was reached with the Ministry of Finance.
April 14, 2011
Austria's Labor Costs above EU Average
An hour of work costs an Austrian employer an average € 28.00 - six euro more than the EU average.
April 13, 2011
No Rush Expected on the Labor Market after the End of the Transitional Periods
After 30 April 2011, an additional access to the Austrian labor market of about 11,500-16,500 people annually from Hungary, the Czech Republic and Slovakia is expected.
April 12, 2011
ÖVAG Participates in the Stress Test
Unlike last year, the Austrian Volksbanken group (ÖVAG) is to participate in the EU-wide stress testing of banks. 5% equity is assumed as lower limit.
April 9, 2011
Austria’s Exposure to Portugal: € 433m
France is clearly the larges creditor of the troubled country. Portugal owes Austria € 433m.
April 8, 2011
Leitl: "Austria is Very Well Positioned for the Opening of the Labor Market"
Experts estimate immigration potential to be between 15,000 to 25,000 people; gains from migration for Austria, as from 1 May, about € 900m.
April 8, 2011
Austrian National Bank Expects Tougher "Stress Tests"
The EU-wide bank stress tests planned for 2012 should turn out to be more rigorous, according to the Oesterreichische Nationalbank (OeNB).
March 19, 2011
Leitl Favors EU Financial Transaction Tax
The President of the Austrian Economic Chamber says: "The EU Parliamen has taken an important step towards EU financial transaction tax"
March 10, 2011
Hardly any Effects Expected by Labor Market Opening
As of May 1, 2011, the citizens of the countries which joined the EU in 2004 will be able to work in Austria without any restrictions. The effects should be kept within certain limits.
March 4, 2011
Leitl and Juncker Support a "Marshall Plan for Africa"
Austria and Luxembourg drive for support. Special attention is paid to education and know-how.
March 3, 2011
FPÖ Intends to Establish Itself as an Economic Party
In an interview with the "Wirtschaftsblatt", FPÖ chairman Heinz-Christian Strache says that the party wishes to address entrepreneurs more strongly in future.
March 3, 2011
Unemployment: Austria has Top-Position Among EU27
EU27 area unemployment rate at 9.9%, Austrian unemployment rate amounts to 4.3%. National youth unemployment is below the average too.
March 2, 2011
Vienna is Among the Cities with the Greatest Purchasing Power in Europe
Austria comes out relatively well in a study on the purchasing power of Europe The capital leads the Austrian comparison.
February 25, 2011
Leitl Demands More Support for SMEs
The Small Business Act must be also implemented at national level in a sustained way, says the President of the Austrian Economic Chamber.
February 24, 2011
Molterer Nominated as Vice-President of the EIB
Former Vice-Chancellor and Finance Minister Wilhelm Molterer is nominanted as candidate for Vice-President of the European Investment Bank (EIB).
February 23, 2011
Free Trade Agreement with South Korea
WKÖ: Additional trade potential for Austrian companies in South Korea for € 350m.
February 19, 2011
EU Requests Nabucco to Enter a Cooperation
The European Union is pushing a merger between Nabucco and the ITGI pipeline project.
February 18, 2011
Austria's Budget Deficit is Lower than Expected
The preliminary budget outcome for 2010 is 0.6% better than forecast. However, the results of the ÖBB could increase the deficit again.
February 17, 2011
Lopatka Demands Structural Reforms and Budgetary Discipline
The State Secretary for Finance at the German-Austrian Financial and Economic Forum.
February 11, 2011
Massive Increase in Public Debt
Austrian public debt could rise dramatically soon by a new calculation involving separate legal entities.
February 10, 2011
Eder Considers European Manufacturing Industry is at a Disadvantage
For the CEO of the Austrian steel company voestalpine, the European manufacturing industry is at a disadvantage, despite innovative leadership.
February 5, 2011
Austrian Foreign Trade Figures Rising Strongly
From January to November 2010, Austrian foreign trade grew substantially. Imports and exports increased by 15.8%
February 5, 2011
Oettinger Increases Pressure on OMV
In an interview with the daily newspaper "Presse", the European Commissioner for Energy considers that OMV must move now regarding Nabucco.
February 4, 2011
Innovativeness in Austria Drops
In the European comparison, Austria’s innovativeness is dropping and is presently located only in the upper mid-range.
February 2, 2011
New Advance for Baltic-Adriatic Corridor
The Carinthian Economic Chamber supports the information campaign of Governor Gerhard Dörfler in favor of the Baltic-Adriatic Corridor.
February 2, 2011
Bawag has to Sell Non-Core Business
The Austrian bank, which is owned by the US-American investor Cerberus, is obliged to sell its non-banking subsidiaries.
January 29, 2011
"Austria Does Not Deserve an AAA Rating"
The chief economist of the American Citigroup, Willem Buiter, also denies Austria, alongside the U.S. and the UK, the right to the AAA rating.
January 29, 2011
Leitl Welcomes Medvedev's Idea for a European-Russian Economic Area
Closer cooperation between the EU and Russia would "stabilize economic and social development". Austria's foreign trade with Russia is flourishing.
January 28, 2011
Slow Progress for Nabucco
The negotiations in the Caspian region are "tough", but the political will exists, say sources from the Austrian oil and gas group OMV.
January 26, 2011
EU: New Early Warning System Against Financial Market Risks
Two Austrian officials point out the relevance of the new institution, which will particularly benefit Austria.
January 21, 2011
Pröll is Against the Extension of the Euro Shield
The Austrian Finance Minister, Josef Pröll (ÖVP), called for stricter budget discipline and pronounces himself against a more extensive rescue shield
January 20, 2011
Reform Backlog Prevents Austria Being a Success Model
The chairman of the WIFO, Karl Aiginger considers that Austria’s future capital has been gambled away because of lack of reforms. The EU, however, is "not on track" either.
January 19, 2011
Hungary: Calls for Boycotts against Foreign Companies in Hungary
A Hungarian initiative demands that 13 foreign companies be boycotted, including Austrian OMV
January 18, 2011
New Perspectives for Nabucco
The European Commission wants to commit Azerbaijan to supply gas to Europe. This is expected to be done via the Nabucco pipeline.
January 14, 2011
WKÖ endorses policy of the European Commission
The Austrian Economic Chamber welcomes the focus of the EU Commission on structural reforms, consolidation of public finances and competitiveness.
January 13, 2011
Recovery in Austria´s Labor Market Continues
The domestic labor market´s data for 2010 were better than expected. The number of job-seekers declined by 3.7%
January 8, 2011
Demands for Financial Transactions Tax
The Chairman of the Austrian Provincial Governors’ Conference, Josef Pühringer, demands the introduction of a pan-European financial transactions tax.
January 7, 2011
Strong Increase in Austrian Foreign Trade Figures
January to October 2010: imports and exports increased by more than 15%
January 6, 2011
Special Tax: Hungary Under Fire
Especially the Austrian economy criticizes the Hungarian special tax on large companies. The EU Commission has already started an investigation.
January 4, 2011
New Responsibilities for the Financial Market Authority
As of 2011, the Austrian Financial Market Authority (FMA) has to face new challenges. The focus is on the fight against money laundering.
January 3, 2011
Experts: No Failures in the Austrian Labor Market
The last hurdles for the new EU-members to enter the Austrian labor market will fall in May 2011. However, even the unions has no concerns.
January 3, 2011
13 CEOs Call For Sanctions Against Hungary
Because of the new taxes introduced by the Hungarian government, a group of prominent European CEOs call for EU-sanctions.
January 2, 2011
State Secretary for Finance: Euro-bonds as a Medium-term Strategy
The Austrian State Secretary for Finance, Andreas Schieder, does not discard Euro-bonds, against the majority view of German and Austrian politicians.
December 31, 2010
Austria's Labor Market Opens
As of May 1, 2011 the German and Austrian labor markets open for the new EU citizens. Romania and Bulgaria will follow suit in 2013.
December 30, 2010
Spindelegger: Turkey's Joining the EU Will Not Happen Before 2024
In an interview with the "Wirtschaftsblatt", the Austrian Foreign Minister stresses the relevance of Turkey. Croatia should come into the EU much earlier EU.
December 29, 2010
Economic Chamber Criticizes Import Control System
According to the WKÖ, Austrian businesses incur additional costs and bureaucracy by the import control system.
December 27, 2010
Austrian Official Debt Level Rises
Due to the EU-wide commitment to a more transparent presentation of liabilities, the official debt ratio of Austria will continue to increase.
December 21, 2010
WKÖ: EU patent to stimulate Austrian innovation
The Austrian Economic Chamber (WKÖ) welcomes the enhanced cooperation for the EU-wide patent and hopes to obtain benefits for the domestic economy.
December 16, 2010
More Employees in Austria, Purchasing Power and Taxes Remain High.
Austria records an employment increase of 1.2%. Purchasing power and taxes are above the international average.
December 15, 2010
Austrian Economic Chamber is Against Euro-Bonds
Chamber President Leitl calls for an in-depth cooperation in economic policy instead of euro-bonds.
December 15, 2010
Fast News Search
