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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
Austrian Economy Appreciates Serbian Approach to EU
Serbia officially became candidate for the EU-access. Christoph Leitl, President of the Austrian Chamber of Commerce, emphasized the importance of the “European perspective” for Serbia.
March 2, 2012
Nowotny: „Austrian Banking Activities in CEE Better than their Reputation”
According to the governor of the Austrian Central Bank (OeNB), Ewald Nowotny, Austrian banks engaged in Central and Eastern Europe are more stable than they are supposed to be.
March 1, 2012
Rise in Austrian Unemployment Rate
At the end of February, 380,000 persons were unemployed. This is a rise of 5.2%. At the EU level, Austria´s unemployment rate is still the lowest.
March 1, 2012
Merger of Nabucco-TANAP Discussed
Members of the gas pipeline projects Nabucco and TANAP talk about a merger in Vienna. The Turkish Minister of Energy participates therein.
February 28, 2012
Austria: Low Attractiveness as Research Location
According to a study among European scientists, Austria loses its reputation. The most attractive destination is the U.S.
February 27, 2012
Pessimism in Austrian Banking Industry
26% of interviewed managers in the Austrian banking industry regard the development of the operating business as “very bad”.
February 27, 2012
Significant Increase in Austrian Steel Exports to U.S.
U.S. Steel Imports are rising substantially, prices are on the fall. Austrian suppliers could raise their share.
February 27, 2012
Austrian Current Account Deficit Rising
Against 2010, the Austrian current account deficit almost doubled. Both imports and exports reached record levels.
February 27, 2012
Hutchinson-Orange Merger: T-Mobile Becomes Impatient
T-Mobile Austria, a subsidiary of Deutsche Telekom puts pressure on the Austrian Competition Authority. The merger must include a number of requirements.
February 25, 2012
Austria Discussing Top Banks’ Capital Rules With EU Commission
Austria’s regulators are discussing rules for its top banks that will curb excessive lending in Central and Eastern Europe with the European Commission.
February 25, 2012
EIB: Fewer Funds for Austrian Companies
After a record in 2011, the European Investment Bank (EIB) will reduce lending to Austrian companies this year.
February 24, 2012
Economic Growth Forecast: 0.7% in 2012
The EU-Commission sees an economic growth of 0.7% for Austria in 2012. Austria is in the middle-field among the EU member states.
February 23, 2012
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