Italy

Austria and Germany Agree to Open Borders on 15 June

The gradual opening of the borders between Austria, Germany and Switzerland will begin as early as Friday. From May 15th onwards there will only be spot checks at the borders between Austria and Germany, both countries announced. From 15 June, the borders are to be opened completely. Opening to Italy is not an issue for the time being.

May 13, 2020

Isolated Austria: 238 Border Closures Approved

Almost complete border closures to almost all neighbours, Germany (58), Italy (47), Switzerland (30), Liechtenstein (11), Slovenia (51) and Hungary (43), with the exception of Slovakia, have been approved by the main committee of the National Council and have already been implemented.

March 21, 2020

Austria Suspends Travel also with Great Britain, Russia, the Netherlands and Ukraine

After Italy, Switzerland, Spain, France, Iran and parts of China, Austria is now also discontinuing air and rail traffic with Great Britain, the Netherlands, Russia and Ukraine.

March 15, 2020

COVID-19: Closure of Border Crossing Points with Italy Formally Adopted

Austrian National Council approves closure of 47 border crossings with Italy.

March 15, 2020

Highest Security Level: Austria also Suspends Travelling with Switzerland, Spain and France

In addition to Italy, air and rail traffic to Switzerland, Spain and France will now be discontinued. Alongside the existing border controls, checks are now also carried out at the border to Switzerland. The highest travel warning (security level 6) applies to all 4 countries (incl. Italy). As a result of recent decisions, security level 6 now applies to 6 countries: Italy, Iran, parts of China, Switzerland, Spain and France. The Austrian government's "goal is to prevent a situation like that in Italy with all democratic possibilities".

March 13, 2020

Coronavirus Update: South Tyrol Confirms First Death

Now the first person infected with the coronavirus has also died in South Tyrol, reports South Tyrol.

March 12, 2020

Austrian Government Announces Drastic Measures on Coronavirus

In the fight against the coronavirus, the government has announced drastic measures for the first time. Entry ban from Italy, partial suspension of air and train traffic, cancellation of events, suspension of teaching at universities and technical colleges.

March 10, 2020

Coronavirus: Austria Declares Entry Ban for Persons from Italy

Austria's federal government has today passed a travel ban for people from Italy. The primary objective is to prevent the exchange of persons and thus the spread of the COVID-19 disease into our society, said Federal Chancellor Kurz at a press conference with regard to the situation in Italy.

March 10, 2020

Air Travel to Austria: Further Flights Stopped Due to COVID-19 Spread

To contain the coronavirus, direct flights from Austria to Iran, South Korea and the northern Italian airports of Bologna and Milan will be discontinued in the next two weeks. Passengers from third countries require a medical certificate. This was announced by the Federal Government during a press conference broadcast nationwide. Details as follows.

March 7, 2020

Travel between Austria and Italy: Security Levels 3 to 5

Due to the current situation of the increasing number of confirmed cases of infection with the coronavirus (COVID-19), the Foreign Ministry advises against unnecessary travel to Lombardy. However, air and rail traffic are also affected as follows.

March 3, 2020 · Updated: March 4, 2020; 17:12

Austrian Airlines Cancels Further Flights to Italy, China and Iran Still Suspended

Due to falling demand for flights to Italy as a result of the corona crisis, Austrian Airlines is cancelling 40 percent of its flights to Italy in March and April. Flights to Tehran (Iran) will continue to be suspended until 30 April 2020 and flights to Beijing and Shanghai (China) until 24 April 2020.

March 3, 2020

First Suspected Case of Coronavirus in Upper Austria: All-Clear

A suspected case of coronavirus occurred today in the Upper Austrian city of Linz. The all-clear was given in the late afternoon. The tests for COVID-19 were negative.

February 25, 2020 · Updated: February 25, 2020; 17:20

Austria Reports Its First Two Coronavirus Cases as Outbreak Widens

In the Austrian province of Tyrol, two people have been proven to be infected with the coronavirus. A second test was also positive. These are the first two confirmed cases in Austria. The infected persons are two 24-year-old Italians from Lombardy who live in the Tyrolean capital Innsbruck.

February 25, 2020 · Updated: February 25, 2020; 14:25

Coronavirus: Emergency Meeting of Central European Health Ministers in Rome

At the invitation of the Italian Government, the Health Ministers of Austria, Italy, Slovenia, France, Switzerland and Germany are meeting today.

February 25, 2020

Austria is Arming itself against the Coronavirus

The Austrian Federal Government today presented a package of measures against "all" upcoming scenarios, with the aim of ensuring transparency, information and protection for the population. The next 2 to 3 weeks will be decisive in determining how the coronavirus situation develops.

February 24, 2020

Italy-Austria: Coronavirus Emergency Measure Caused Chaos and Panic

A false coronavirus alarm paralysed train traffic between Italy, Austria and Germany. Meanwhile the far right Freedom Party demands that the National Security Council should discuss the situation and that travel to Austria from the affected regions should be restricted.

February 24, 2020 · Updated: February 24, 2020; 11:57

Sobotka in Rome Promotes EU Enlargement Towards the Western Balkans

Meetings with top Italian politicians, but also the commemoration of the Shoah were the focus of a visit by Wolfgang Sobotka to Rome.

January 30, 2020

Foreign Trade: Imports and Exports Pass the 150 Billion Euro Mark for the First Time

The total nominal value of imports of goods in 2018 was 5.8% higher than in the previous year at 156.06 billion euros, while exports of goods rose by 5.7% to 150.1 billion euros. This results in a trade deficit of 5.99 billion euros. More than half of Austria's foreign trade was spread across only five countries.

July 10, 2019

Italian President Sergio Mattarella in Austria

Italy's President Sergio Mattarella was on a two-day state visit to Austria. The main topics discussed were Sea Watch 3, South Tyrol and the situation of the European Union after the elections.

July 3, 2019

Diplomats for the International Day Against Homophobia, Transphobia and Biphobia 2019

More and more embassies, delegations and permanent representations to international organisations supported this day (IDAHOBIT), that raises awareness of LGBT rights violations and stimulate interest in LGBT rights work worldwide, as well as EuroPride 2019 in Vienna.

May 29, 2019

Hub to the Far East - ÖBB Rail Cargo and Port of Trieste Strengthen Cooperation

At a critical time when the question of Italian economic independence from China is being discussed throughout Europe, ÖBB's Rail Cargo Group is intensifying its cooperation with the port of Trieste in order, among other things, to be able to use the transport connection of the Adriatic port to the Far East.

March 22, 2019

Una Notte Italiana at the Concordia Ball 2019

The Concordia Ball, the most important ball held annually at Vienna City Hall, will take place on Friday, 14 June 2019 under the motto "Una Notte Italiana". If you have always dreamed of elegantly waltzing through a festively decorated ballroom, look no further! Grab your dancing shoes, dress in your best gown and enjoy a stunning experience in the home town of the Waltz!

March 7, 2019

Tourism: Vienna Achieves New Record Number of Overnight Stays

Vienna recorded a new tourist record in March with an increase of 8.5% compared to the previous year. The number of guest overnight stays rose to 1,169,000. Most of the tourists came from Germany, Italy, Russia, Spain, the UK and Switzerland.

April 19, 2018

Federal President Widow Margot Klestil-Löffler Designated to Become Special Envoy to Russia and China

Due to tensions in the CEI Central European Initiative in Trieste between the Italian diplomat Giovanni Caracciolo di Vietri as CEI Secretary General and his deputy Margot Klestil-Löffler, it is rumored that the Foreign Office must find a new job for Klestil-Löffler. This is what the daily "Der Standard" writes in its Thursday issue.

February 23, 2018

Unicredit Bank Austria Preliminary Results: Net Profit of About EUR 1.3 Billion for 2015

Unicredit Bank Austria has published its preliminary results for the 2015 financial year. Unicredit's Austrian subsidiary posts a net profit of about EUR 1.3 billion for 2015. Systemic charges including bank levies are up by EUR 89 million to EUR 326 million.

February 10, 2016

UniCredit Final Restructuring Program on Bank Austria's Retail Business

UniCredit announced a major step in its strategic plan execution, by launching a profound restructuring program on its Austrian retail business that will enable Bank Austria to develop its business in a sustainable way, while bringing down significantly its cost income ratio. The restructuring plan will allow to reduce by 2018 Bank Austria's overall costs by € 150mn per year on an ongoing basis on top of the Strategic Plan and with main focus on personnel expenses, leading to an overall cost decrease by almost € 300mn versus 2014 in order to ensure the business sustainability in the long-run.

December 15, 2015

Bank Austria Posts Net Profit of EUR 660 Million for the First Nine Months

UniCredit Bank Austria announced that net profit in the three months to end-September dropped to 172 million euros from 291 million in the previous three months. As reported, the bank plans to terminate up to 14,000 jobs and restructure or exit its retail business in Austria and leasing operations in Italy as it seeks to strengthen its equity.

November 11, 2015

UniCredit - Bank Austria: CEE Operations Move from Vienna to Milan - Retail Business to be Sold or Restructured

Until the end of 2016, all CEE interests with currently 48,000 employees have to be transferred to Milan. Until now this division has been the most important earner for Bank Austria. The 13 banking subsidiaries of Bank Austria in Eastern and Southeastern Europe employ nearly 48,000 people - and thus the majority of the approximately 57,000 employees of Bank Austria. The retail banking business of in Austria with 1.6 million customers has to be sold or restructured, Unicredit announced in the afternoon.

November 11, 2015

Tensions Prior to Announcement of the UniCredit Savings Plans

It is rumored that the groupwide reduction of up to 14,000 jobs will be announced today. It is also about the future of Bank Austria. Bank Austria's parent UniCredit may withdraw the group's CEE head office from Vienna.

November 11, 2015

Euromoney Names UniCredit-Bank Best Bank in CEE

Euromoney has presented UniCredit with nine awards for excellence, including Best Bank in Central Eastern Europe, Best Debt House in Central Eastern Europe and Best Transaction Services House in Central Eastern Europe.

July 14, 2015

Vienna and Triest - Through History Connected

A recent visit by Triest's Mayor Roberto Cosolini highlights that Vienna and Trieste were connected in the Austro-Hungarian monarchy for more than 500 years. Especially in the 18th and 19th century the port of Trieste flourished and because of its location became one of the most developed economic areas of the Habsburg Empire. It was the most important port of one of the Great Powers of Europe. As a prosperous seaport in the Mediterranean region, Trieste became the fourth largest city of the Austro-Hungarian Empire (after Vienna, Budapest, and Prague).

June 25, 2015

Analysis: Austrian Economy Falls Behind Eurozone Average

The latest "Attractiveness Survey" from consultancy Ernst & Young Global Limited shows, that espite strong fundamentals, Austria’s economy lost some ground on the Eurozone average in 2014, with growth of just 0.4% compared with 0.9% for the Eurozone as a whole. This comparative weakness will also continue in 2015, with Austria’s GDP growth estimated at 1.1%, against 1.5% in the Eurozone. This is despite a boost from lower energy prices, quantitative easing from the European Central Bank (ECB) and a weaker euro.

June 1, 2015

Voestalpine Buys Italian Drawn Wire Producer

Voestalpine is expanding its activities in the drawn wire business segment and has completed its acquisition of Italian company Trafilerie Industriali S.p.A. based in Nervesa della Battaglia (Treviso). The acquisition of this Italian manufacturer of special wires brings additional strength to the Voestalpine product portfolio of drawn wire for the automotive industry.

January 12, 2015

Government Debt Increased to 82.6% of GDP in Austria and to 92.7% in Euro Area

At the end of the second quarter of 2014, the government debt to GDP ratio in the euro area (EA18) stood at 92.7%, compared with 91.9% at the end of the first quarter of 2014. Austria's government debt rose to 82.6 percent of GDP in Q2 2014 from 81.3 percent in Q1.

October 23, 2014

Italian SNAM to Acquire TAG Gas Pipeline for EUR 505 Mln

The Italian gas pipeline operator SNAM is going to buy the alpine Trans-Austria-Gasleitung GmbH (TAG), a pipeline running through Austria and the Alps. The price of the pipeline stretch amounts to EUR 505 million, Italian media reports. Austria’s listed oil and gas group OMV holds an 11-percent stake in TAG.

September 15, 2014

Analysis: The Brenner Base Tunnel

The Brenner Base Tunnel is a planned 55-kilometre long railway tunnel through the base of the Brenner massif. It will run from Innsbruck Hauptbahnhof in Austria to Franzensfeste (Fortezza) in Italy, replacing part of the current Brenner railway. The line is part of Line 1, the Berlin to Palermo route, of Trans-European Transport Networks (TEN-T).

August 11, 2014

Cost of Living Rankings: CEE Capitals Cheaper, Vienna is 32nd Most Expensive City

The Mercer's 2014 Cost of Living Rankings have been published and cover 211 cities across five continents. While Western European cities have all risen in the rankings mainly due to the strengthening of the Euro against the US dollar, most cities in Central and Eastern Europe (CEE), however have fallen in the ranking as a result of local currencies depreciating against the US dollar. Bratislava (#84), Prague (#92), Kiev (#98), Ljubljana (#116), Zagreb (#120), Budapest (#135), Warsaw (#142), Belgrade (#184).

July 25, 2014

FDI in Austria up by EUR 25 Million

In the first half of 2014 the number of international companies setting up business operations in Austria with the assistance of ABA in cooperation with the regional investment promotion agencies climbed from 88 to 114. Total investment volume was up 15.9 % in the first half of 2014 to EUR 179.97 million from EUR 154.33 million in the prior year period.

July 11, 2014

Austria: Western Balkans Representatives are Meeting in Vienna

The Western Balkans Conference and the Central European Initiative (CEI) Ministerial Meeting are currently discussing questions regarding the EU enlargement, the role of the EU as a peace project and the economic situation in the Western Balkans.

June 3, 2014

Czech Arca Capital to Invest in Romania

As reported by daily E15, Czech investment group Arca Capital is planning to make a huge investment in Romania.

May 12, 2014

Fiat Intensifies Investments in Poland

As reported by Polish daily Puls Biznescu, Italian automotive manufacturer Fiat plans on lauching the production of a new series, similar to the so-called Punto.

May 9, 2014

Verbund: Trying to Get Rid of Sorgenia

The Austrian utility Verbund announced not being willing to invest any further money into loss-making Italian energy group Sorgenia.

May 8, 2014

Hypo Group to Shut Down Subsidiaries in Italy

Until the end of this year five subsidiaries in Italy will be closed.

May 6, 2014

Bulgaria: Banking Sector Getting Back on Feet Again

In the first quarter this year profits of the Bulgarian banking sector grew by 34 percent.

May 2, 2014

Bank Austria: “Russia is Still Profitable”

According to Vice CEO of Bank Austria and head of business operations in CEE Gianni Franco Papa, business in Russia is not yet affected by the political crisis in Crimea.

May 2, 2014

Hypo Group Further Losses to Be Expected

Huge losses by the sale of the SEE banking network could be expected.

April 30, 2014

Situation for Austrian Banks in Russia is “Sensitive”

According to the latest statistics, Austrian banks are considerably more engaged in Russia than assumed so far. Debts to domestic financial institutes amount to € 50bn.

April 29, 2014

Austrian Banking Sector Making Losses

For the first time in 2013, the Austrian banks made losses in the amount of € 1.035bn.

April 29, 2014

Do Taxes Justify a Relocation of Business?

Tax sensitive business operations should be relocated to other areas if necessary, according to the head of Erste Bank Austria.

April 24, 2014

Slovenia: List of Debtors of NLB Published

The Slovenian bad bank BAMC (Bank Asset Management Company) has published the list of debtors of the country’s two largest banks, which are responsible for the disaster of the state-controlled banks.

April 23, 2014