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Economic Report: „Reducing Dependence on Europe“
Today, the Austrian government published its "Economic Report 2012".
July 9, 2012
Schlecker Austria Sees High Probability of Takeover
The insolvency manager of the German chemist chain Schlecker sees a favorized potential buyer for Schlecker Austria.
July 9, 2012
Active Direct Investments Higher than Passive Direct Investments
Austrian enterprises make more investments abroad than foreign countries do in Austria, Austrian Central Bank announced.
July 5, 2012
Railway Cartel: € 8.5m Fine for voestalpine
The steel group participated in a railway cartel in Germany. The cartel proceedings are finished now.
July 5, 2012
„Up to 70% of European Steel Capacities are Endangered“
Wolfgang Eder, CEO of Austrian voestalpine, thinks that the European steel industry faces fierce competition from the East.
July 3, 2012
Iveco Shuts Down Austrian Factory
Fiat´s Subsidiary Iveco plans to close five factories in Europe. In total, 1,075 workers will be laid off. In Austria, 110 workers are affected.
July 2, 2012
Strong Increase in Unit Labor Costs
Since 2008, the Austrain economy records a disproportionately high increase in unit labor costs. The average of the eurozone amounts to 6.4%. In Austria, the unit labor costs were up by 11.1%.
June 29, 2012
Orange Sale: EU Commission is Concerned too
After the Austrian Federal Competition Authority (BWB) expressed its concerns about the acquisition of Orange by Hutchison Austria, the EU Commission announces to deepen its examination.
June 29, 2012
Euro-Crisis Continues
According to RCB, the factional dispute between Germany and France decisive for the eurozone. An easing of the situation is not expected.
June 29, 2012
Infineon to Invest € 250m in Austria
In 2012, Infineon Austria´s CEO Monika Kircher-Kohl wants to make investments of € 250m. The high tech company is already looking for new staff.
June 28, 2012
WIFO Wants Unlimited Firewall
According to the Austrian Institute of Economic Research, the firewall must be big enough in order to make speculation against the euro unattractive.
June 28, 2012
Credit Crunch in CESEE?
Anglo-Saxon banks and funds are most aggressive in deleveraging; Austrian bank are not relying on funding from countries in hotspots of deleveraging.
June 27, 2012
Fiscal Pact More Expansive for Austria than for Germany
According to the latest calculations, small Eurozone member states would have to pay higher transfers than Germany.
June 26, 2012
Survival of the Euro Questionable
Regarding the future of the common currency, the Austrian economist Fritz Breuss is highly skeptical.
June 26, 2012
Dismal Prospects for Schlecker Austria
An insolvency of Schlecker Austria seems likely. A sale to MTH is still uncertain.
June 25, 2012
U.S. Hedge Funds Hinders Andritz
The Austrian technology group Andritz plans a complete takeover of the German Schuler Group. The U.S. hedge funds Elliott Capital recently acquired a stake in Schuler.
June 25, 2012
Investment Attractivity: Poland Ranks Second
According to Ernst & Young, the most attractive location for investments in Europe is Germany, which is followed by its Eastern Neighbour Poland.
June 25, 2012
Fekter Promotes Financial Transaction Tax
There was no agreement on a common financial transaction tax in all EU member states. Austria´s Finance Minister Fekter wants to introduce the tax in a group of countries instead.
June 23, 2012
Alpine Establishes Joint Venture with German RGM
Alpine establishes the AFM - Austrian Facility Management joint venture with Germany's RGM.
June 23, 2012
Green Party: ESM Approval Depends on Financial Transaction Tax
The Austrian Green party will only vote for the ESM if there is a basic consent for the financial transaction tax.
June 22, 2012
Controversy About Nowotny
Ewald Nowotny, the governor Austrian Central Bank (OeNB) argued that the austerity policy in the 1930s caused the rise of the Nazi regime. A wave of indignation emerged.
June 21, 2012
Austria Pushes for Danube Strategy
Together with Germany, Slovakia and Bulgaria, Austria wants to implement a common transport strategy for the Danube.
June 21, 2012
Schlecker Austria Threatened by Insolvency
The Austrian subsidiary of the insolvent German chemist chain must find a buyer in order to prevent its own bankruptcy.
June 19, 2012
Tax Treaty with Switzerland Finally Confirmed
The second chamber oft he Swiss Parliament approved the tax deal with Austria, Germany and the U.K.
June 16, 2012
Success for CA Immo in Frankfurt
The Austrian real estate company CA Immo has concluded another lease for approximately 1,350 m2 (14,531 ft2) of office space in Frankfurt’s Tower 185.
June 15, 2012
Fitch: „AAA Endangered in Case of Greek Exit“
The U.S. rating agency warns the remaining AAA-Eurozone members of the consequences of a Greek exit.
June 13, 2012
MTH Group Considers Taking Over Schlecker Austria
The industrial holding group MTH may acquire the Austrian subsidiary of the insolvent German Schlecker Group.
June 12, 2012
Germans Have € 25bn Deposits in Austria
In the last six years, savings deposits owned by German nationals grew steadily in Austria.
June 12, 2012
Austrialian Mining Company Plans to Exploit Lithium in Austrian Alps
Global Strategic Metals NL plans a site with an investment volume of € 125m in Austria. For Austria, the lithium deposits would be a „highly strategic asset“.
June 9, 2012
Voestalpine Shuts Down Steelworks in Duisburg
The Austrian steel producer plans to close the mill in 2013. At the moment, voestalpine has talks with trade unions and the workforce.
June 9, 2012
Austrian Furniture Industry Increases its Exports
In 2011, the total production of the Austrian furniture industry decreased by 3.3 percent to close to € 2.3bn according to the latest figures.
June 6, 2012
Insolvencies: Stable Development Expected
In 2012, the number of Austrian business insolvencies is expected to remain stable. Whereas in Germany and the U.S. insolvencies are decreasing, Southern Europe faces a vast increase.
June 5, 2012
„India and China are not the Problems“
Voestalpine´s CEO Wolfgang Eder thinks that competitors from Turkey, Russia and Ukraine may become problematic for the European steel industry.
June 5, 2012
Keuschnigg: „Raising ESM for Italy and Spain“
Christian Keuschnigg, director of the Austrian Institute of Advanced Studies (IHS) argues for raising ESM funds to € 1,000bn.
June 4, 2012
Rates on Austrian Sovereign Bonds Reach New Record Low
The premium on ten-year Austrian sovereign bonds fell to a record low of 2.015%.
June 4, 2012
„Schlecker Austria is Solvent“
The spokesman of Schlecker Austria is optimistic to find a buyer for the Austrian subsidiary of the insolvent German chemist chain.
June 4, 2012
Energy: Germany and Austria Agree on Closer Cooperation
German dena and Austrian Verbund advocate stronger German-Austrian energy partnership and aim to build more pumped storage power plants for the integration of wind and solar power.
June 1, 2012
No Future for Schlecker
The insolvent German chemist chain will be closed. Fort he Austrian subsidiary, the search for a buyer goes on.
June 1, 2012
Austrian Business Location: Further Slump in Competitiveness
According to the Swiss Management Institute IMD, Austria only ranks 21th among 59 analyzed countries. The Austrian tax policy is the absolute weak point.
May 31, 2012
The Euro - A Big Error (Part 4)
The common currency did not create convergence, but widened the gap between Northern and Southern Eurozone member states.
May 31, 2012
Switzerland Ratifies Tax Treaty with Austria
The Swiss National Council approved the tax deal with Austria. Illegal funds of Austrian nationals in Switzerland will be taxed.
May 30, 2012
S Immo Does Not Plan Investments
The Austrian real estate company regards the current framework conditions as not suitable for investing in new projects. S Immo plans more sales, by contrast.
May 29, 2012
Andritz Expands in Germany
Andritz acquires 38.5% stake in Schuler AG, Germany, and announces takeover offer to purchase the remaining shares.
May 29, 2012
New Records for Austrian Tourism
Winter season 2011/12: with 64.3 million overnights still at a high level; new record of 16.4 million arrivals.
May 24, 2012
bwin.party received licence in Germany
The British-Austrian betting company is allowed to operate online sports betting in the Northern German province of Schleswig-Holstein.
May 24, 2012
Immofinanz Expands in Germany
The Austrian real estate group launches first internal development project in Germany with construction project at Düsseldorf Airport.
May 24, 2012
The Euro – A Big Error (Part 2)
The system of the common currency has failed to work, but is still kept alive artificially. The euro brings enormous difficulties to stronger as well as weaker European economies.
May 23, 2012
Fekter: Hollande´s Suggestions are “Nonsense”
Vice-Chancellor Spindelegger and Finance Minister Fekter are strictly against the introduction of Eurobonds and any amendments of the Fiscal Treaty.
May 22, 2012
Black Labor Decreases
In Austria, the share of black labor is still big. However, there is a downward trend.
May 22, 2012
“Three Problems of Europe: Divergence, Indebtedness and Weak Banks”
The new director of the Austrian IHS (Institute of Advanced Studies) Christian Keuschnigg thinks that a Greek exit would have to take place suddenly.
May 21, 2012
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