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“Russia now among top 10 Austrian Trading Partners”

Austrian Foreign Minister Spindelegger meets with Russia’s Deputy Prime Minister Zubkov.

April 25, 2012

Austria Wants to Raise Efficiency in EU Funds

The Austrian State Secretary Waldner participates in the negotiations of the EU financial framework 2014-2020 and calls for setting a regional and environmental course.

April 25, 2012

Austria to Intensify Cooperation with Croatia

The Austrian Minister of Economics met his Croatian counterpart in Vienna. Above all, the EU-accession and investments were discussed.

April 24, 2012

Labor Costs: Austria in the Upper Third

Hourly labor costs ranged between € 3.5 and € 39.3 in the EU27 Member States. In Austria, labor costs reach € 29.20.

April 24, 2012

Austrian Ministry of Finance Records Higher Tax Intake

In the first three months of 2012, tax proceeds were up by 3.8%. The Ministry of Finance registered revenues of € 16.2bn.

April 23, 2012

Fekter meets British Chancellor of the Exchequer Osborne

The Austrian Minister of Finance Maria Fekter and George Osborne talked about Basel III, the EU budget and taxation.

April 23, 2012

Maastricht Criteria: Austria in the Middle Field

In 2011, the government deficit of both the euro area (EA17) and the EU27 decreased in absolute terms compared with 2010, while the government debt rose in both zones.

April 23, 2012

Waldner: “Germany and Austria are Role Models in the Eurozone“

The Austrian State Secretary Wolfgang Waldner had a work meeting today with his colleague in the German Federal Foreign Office, Minister of State Michael Link.

April 23, 2012

Waldner Wants Closer Cooperation with Spain

Austrian State Secretary Waldner is meeting his counterpart in the Spanish Foreign Ministry, State Secretary Gonzalo de Benito Secades, and EU State Secretary Inigo Mendez de Vigo today.

April 19, 2012

Roiss Claims European „Fracking“ Strategy

OMV´s CEO Gerhard Roiss calls for a common strategy to exploit shale gas. The European industrial sector should become more competitive.

April 18, 2012

Mitterlehner: „AAA is still Far Away“

Austria´s Minister of Economics does not believe that S&P gives back the “AAA” rating soon. However, the debate about Austria´s rating is overvalued, he thinks.

April 17, 2012

Austria Supports EU Capitalization Plans for Banks

Regulators in the European Union may be allowed to impose capital surcharges on banks

April 17, 2012

Austrian Inflation Slightly Down

In March, a decrease of the Consumer Price Inflation to 2.4% was observed.

April 17, 2012

Tax Deal Fiercely Criticized

Last week, Austria concluded a tax treaty with Switzerland. For experts, the deal does not solve the main problems.

April 16, 2012

Hypo Tirol: NPL Quota at 37%

The Tyrolean regional bank recorded losses of € 125m last year. The owner, the province of Tyrol has to inject further capital.

April 16, 2012

Austrian Economy on Moderate Growth Course

Bank Austria Forecasts table growth until summer followed by chances of an upswing. Austria could achieve GDP growth of 0.8 percent in 2012 and 2 percent in 2013.

April 16, 2012

Waldner: “Serbia Needs to Continue its Approach to the EU Unwaveringly”

Wolfgang Waldner, Austrian State Secretary is on a working visit in Belgrade.

April 12, 2012

Nowotny Ask For Alternative to Financial Transaction Tax

The governor of the Austrian Central Bank (OeNB) sees a good sign in Austria´s low interest rate on sovereign bonds. The introduction of a European financial transaction tax is unrealistic, the governor says.

April 11, 2012

Financial Transaction Tax: Schieder Raises Pressure on EU

Austria´s Financial State Secretary Andreas Schieder threatens to vote against higher EU contributions. To discuss about alternatives of the financial transaction tax is “too early.”

April 10, 2012

„Natural Gas to Become Most Important Energy Source“

Gerhard Roiss, CEO of the Austrian oil and gas group OMV pushes the EU to recognize the importance of natural gas.

April 7, 2012

Tax Intake Higher Than Expected

In the first two months of 2012, the Austrian state received € 460m more tax proceeds than initially expected.

April 6, 2012

EU: Austrian Labor Costs Rose Decently

Since 2000, Austrian labor costs rose by 40%. Among the 27 member states, Austria ranks 22th.

April 5, 2012

EU Approved Joint Venture between Agrana and Ybbstaler

The EU Commission granted Agrana and RWA Raiffeisen Ware Austria the green light for the merger of their fruit juice concentrates subsidiaries.

April 5, 2012

Go-Ahead for Joint Venture Between Agrana and RWA.

EU Commission approves joint venture between the two Austrian food companies Agrana Juice Holding GmbH and Ybbstaler Fruit Austria GmbH (RWA).

April 4, 2012

Euro-Group: Fekter Presses Ahead

Jean-Claude Juncker, head of the euro-group is angry at the Austrian Minister of Finance, Maria Fekter, who presented the summits´ results before Juncker´s press conference.

March 31, 2012

Austria Insists on Financial Transaction Tax

Despite Germany’s finance minister sees little chance of a European Union agreement on the levy, Austria is sticking to plans for a financial-transaction tax in Europe to help consolidate its budget.

March 27, 2012

EU Financial Framework Negotiations Enter the Hot Phase

State Secretary Wolfgang Waldner underlines Austria´s position as net contributor at the General Affairs Council in Brussels.

March 27, 2012

Keuschnigg: „Greece Must Leave Eurozone“

The Austrian Economist and designated director of HIS, Christian Keuschnigg advised Greece to leave the euro zone.

March 26, 2012

RBI: Günther Gall Appointed Vice-Chairman of EPC

The Austrian national Günther Gall of Raiffeisen Bank International AG (RBI) was elected vice president of the European Payments Council (EPC).

March 23, 2012

Orange Takeover Threatens to Fail

The takeover of Austria´s third-largest telecommunication service supplier Orange by the Hong Kong-based Hutchison Group may be postponed. Orange´s creditors are increasingly nervous.

March 22, 2012

Modest Economic Spring With Upward Potential

Bank Austria Business Indicator for February confirms that the economic turnaround has already begun. The outlook is positive.

March 19, 2012

Austria Underlines South Tyrol´s Autonomy

Austrian State Secretary Wolfgang Waldner on working visit in South Tyrol. Austria suggests an “Alpine Strategy”.

March 19, 2012

Bank Austria Plays Down Hungary Risks

The head of UniCredit unit Bank Austria's central and eastern Europe business played down potential risks from Hungary in a magazine interview published on Friday.

March 19, 2012

“The Czech Republic Has Traditionally Been an Important Partner for Austria”

Austrian State Secretary Waldner meets Czech EU State Secretary Belling.

March 19, 2012

Tax Agreement with Switzerland May Be Postponed

The plans of the Austrian government to conclude a tax agreement with Switzerland soon is unlikely. For the budget, this could cause a loss of revenues.

March 17, 2012

Unemployment of Older Aged Workers Increases Disproportionately

The Austrian labor market registers a rise both in employment and unemployment of persons aged beyond 50. Especially unemployment of male persons aged beyond 50 rises dramatically.

March 17, 2012

Austrian Government Holds on Financial Transaction Tax

In spite of discordance at the EU-level, the Austrian government is convinced to impose taxes on financial transactions by 2014.

March 17, 2012

Doubt About Austerity Package

Austria´s Finance Minister Fekter had to defend the government´s austerity package again. Experts are in doubt about the successful implementation.

March 15, 2012

Austria Wants More Leeway for Hungarian Budget

The Austrian Minister of Finance Maria Fekter criticizes the EU. Hungary is not treated equally, Fekter says.

March 13, 2012

GDP per Capita: Vienna Ranks 11th

In 2009, Austrian regions remained above average in terms of regional GDP per capita in the EU.

March 13, 2012

Despite Loss of AAA: Austria Pays Less Interest

The Austrian Republic had to pay € 300m less than initially expected in 2011. In spite of the downgrade by S&P, the trend seems to continue.

March 10, 2012

Ghizzoni: „Austrian Bank Tax Is Painful“

The Chief Executive Officer of UniCredit, the holding company of Bank Austria emphasizes not to sell the Austrian subsidiary. The bank tax is “unfair”.

March 10, 2012

Orange Takeover: Hutchison is Optimistic

The Hong Kong-based telecommunication company Hutchison 3 is sure that the takeover of Orange will be approved by the competition authorities. The competitor T-Mobile is not convinced at all.

March 9, 2012

Cernko Criticizes VBAG Bail-Out

Willibald Cernko, CEO of Bank Austria considers that the Austrian state reacted too late. A partly nationalization could have taken place already one year before.

March 9, 2012

Tax Treaty: Conflict with EU

The EU rejects Austrian tax treaty plans with Switzerland. Austria insists on the bilateral agreement.

March 7, 2012

Fekter: "Eurogroup Chief Must Be Head of Government"

Austria’s Finance Minister Maria Fekter said the next leader of the group of euro-area finance ministers has to be a head of his or her government in order to have the necessary authority.

March 6, 2012

Again Criticism on Austerity Package: „Lack in Sustainability“

The President of the Viennese Federation of Austrian Industries (IV), Georg Kapsch, misses details of the austerity package. The package is not ambitious enough, Kapsch considers.

March 5, 2012

EU ‘Surprised’ Austria Didn’t Warn on VBAG, Almunia Says

The European Commission was “surprised” Austria didn’t warn it about plans to bail out Oesterreichische Volksbanken AG (VBPS), according to Joaquin Almunia, the region’s commissioner responsible for approving state aid.

March 5, 2012

Nabucco: Costs Could Grow Further

The pipeline consortium Nabucco checks whether the project becomes more expensive than expected. Costs of € 15bn are forecasted.

March 3, 2012

Fiscal Treaty: Austrian Economy Satisfied, Opposition Criticizes

After the signing of the EU fiscal treaty at the EU Summit today, reactions in Austria are very different. The largest opposition party FPÖ calls for a popular vote.

March 2, 2012
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