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OECD: "Austria Is Set to Overcome the COVID-19 Shock and Its Economic Scars"
The Organisation for Economic Co-operation and Development (OECD) has released its latest Economic Survey of Austria. Read what the Survey says about the Austrian economy coming out of the latest wave of the COVID-19 pandemic.
December 20, 2021
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Inaugural Statement of Austria's New Chancellor: "We Want to Reconcile with History"
Newly appointed Austrian Chancellor Karl Nehammer delivered his inaugural statement to the National Council. Read what the new chancellor said are some of the key issues his government will focus on.
December 10, 2021
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The Consequences of the COVID-19 Pandemic for Austria's Economy
The consequences of COVID-19 pandemic continue to determine economic activity in Austria and the banks’ higher resilience has been key to COVID-19 response.
November 29, 2021
Migration: Expansion of Value and Orientation Courses for Asylum Seekers Planned
Integration Minister Susanne Raab announced that the mandatory values and orientation courses for asylum seekers will be expanded to include three days of lessons rather than just one. Read more about the expansion of the program and what will be taught.
November 12, 2021
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Business Immigration Office: Vienna Launches New Service Point for Expats and International Companies
As of today, Vienna has its own service office for international professionals (expats) and companies for matters of residence law as well as consultations.
October 13, 2021
AMS to Provide Support as Companies Struggle to Fill Job Vacancies
Austria's public employment service (AMS) announced that it will be supporting companies with the "AMS Business Tour" initiative. Teams from the AMS will help companies in finding personnel, as the latest employment figures from the AMS show that three out of ten job vacancies currently cannot be filled even after three months of searching. Read more about this new initiative and some of the latest numbers from the AMS.
October 11, 2021
Austrian Unemployment Decreases in March
The number of unemployed Austrians has decreased significantly in March compared to the previous month. About 56,000 fewer people have been reported unemployed, while the number of people in training at the Austrian Arbeitsmarktservice (AMS) has increased. This is likely due to the recent measure, which provides training priorities in areas where there is a particular demand for qualified workers.
April 7, 2021
Ludwig Is Sworn In as New, Old Mayor of Vienna
Michael Ludwig was sworn in as mayor of Vienna by Federal President Van der Bellen. The President sees the coalition between Ludwig's Social Democratic Party (SPOE) and the New Austria and Liberal Forum (NEOS) as an interesting opportunity, since this constellation had not existed on a federal or state level before.
November 24, 2020
Equality in the Job Market: Federal Minister Advocates For Improvements
At the informal meeting of EU ministers and at a discussion with EU Commissioner Helena Dalli, Austrian Minister for Women's Affairs Raab pleaded for a mix of measures to meet the current challenges on the labor market and to bring more women into future industries.
October 13, 2020
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WKO Secretary General: Labor Market Situation Improves, But Remains Great Challenge
The secretary general of Austria's Federal Chamber of Commerce WKO recognizes a slightly positive trend in the labor market but underlines the importance of ongoing and future economic measures.
September 7, 2020
Higher Unemployment Rate in Euro Zone, Decreasing Numbers in Austria
Even though many EU Member States have loosened Covid-19 containment measures, unemployment increased once again in the euro zone. Austria's rate decreased slightly from June to July 2020.
September 2, 2020
Coronavirus: Profit Warning Issued by Vienna International Airport - Reduced Working Time Planned
Travel restrictions and the resulting massive reduction in the number of scheduled flights at Vienna International Airport severely depress revenues and annual results for 2020.
March 12, 2020
New Working Holiday Program Enables Young Argentinians to Experience Living in Austria
Austria includes the largest Spanish-speaking nation, Argentina, in its range of working holiday programmes, so that in the future young people between 18 and 30 years of age from both countries will be able to travel more easily to the other country and gain new valuable experience on the labour market during a given period.
April 5, 2019
Labour Supply in Austria to Grow by 5% by 2050
The supply of labour in Austria will continue to increase in the future if the trends in immigration and labour market participation continue. In 2017 there were an annual average of 4.55 million labour force in Austria, in 2020 according to the trend variant of the forecast there will be 4.63 million (+2%) and in 2050 4.79 million (+5%). No further growth is expected in the second half of this century.
November 22, 2018
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Annual Report of the European Commission: How did Austria do?
The European Commission presented its annual reports on 27 EU member states. How did Austria do? Well, it kinda ended up with a black eye. The report took a pop at Vienna for a number of structural shortcomings, including tax burden on labour, pension and healthcare expenditures, house prices, restrictive regulation in the services markets, stagnating productivity and and not enough action on spreading digital technologies. That isn’t a particularly good report card for the previous coalition government of ÖVP und SPÖ. Let’s see if the new coalition government of ÖVP und FPÖ can make the grade the next time around.
March 11, 2018
Bawag Laying Off Further 180 to 200 Employees
Bawag Bank will optimize its branches and in course of the process will cut 180 to 200 jobs. 70 to 80 of the affected employees are supposed to be sent back to their actual employers - Post AG.
May 3, 2016
Austria: Right-Winged Extreme Party Buoyed by Tailwind
The Austrian right-winged Freedom Party (FPÖ) is using the disappointment over the grand coalition’s inability to tackle major economic issues to its advantage.
May 21, 2014
“Romania Can Never Become the China of Europe”
Stabilization in Central and Eastern Europe (CEE) is becoming stronger. However, the political crisis in Ukraine is causing a feeling of insecurity among the population.
May 15, 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
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Austria: Mitsubishi Takes Over Majority Stake in Siemens‘ VAI
The industrial systems subsidiary of Siemens, VAI with the business location in Linz, is sold to Japanese competitor Mitsubishi Heavy Industries (MHI).
May 7, 2014
Pewag Striving for Larger Market Share in US
The Austrian snow chain manufacturer appreciates the label “Made in USA”.
May 6, 2014
Federation of Industries: “Industrial Compact“ for European Competitiveness
The Austrian Federation of Industries (IV) considers the EU entry of Austria as the basis of prosperty and economic growth in the past years. However, now reforms are required to catch up to a global level.
May 5, 2014
Majority of Czech Entrepreneurs Want Euro
According to a survey, more than three quarters of Czech entrepreneurs are in favor of the country adopting the Euro.
April 30, 2014
Austria: Is Spindelegger Suitable as Finance Minister?
On Tuesday the Austrian Finance Minister will hold his first budget speech. Initial figures reveal record debt levels.
April 28, 2014
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Serbia: New Government Taking Drastic Measures
New head of the Serbian government Aleksandar Vucic has ambitious plans to reform the state and restructure state finances.
April 28, 2014
Austria: Difficult Market Situation for Selling Bawag
The selling of Bawag PSK proves difficult for its owner which is why an IPO is considered a realistic phasing-out scenario. However, experts doubt that an IPO will be a “highflyer”.
April 24, 2014
Eder: Policy-Makers Have to Make Decisions
Wolfgang Eder, CEO of Austrian steel manufacturer voestalpine, claims not to have heard anything from the Austrian policy makers after he raised criticizm with regard to the Austrian business location.
April 24, 2014
Struggling Insurance Industry
Despite favorable results last year the European insurance market has to face a number of adverse factors.
April 23, 2014
Serbia: “Huge Challenges Ahead”
President Tomislav Nikolic appointed Aleksandar Vucic to form a new Serbian government.
April 23, 2014
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Austrians Cautiously Observant
Despite economic recovery the Austrian citizens are still cautiously observant.
April 22, 2014
Industrial Location Austria Losing Attractiveness
Among other things, labor costs and energy prices are too high, according to the Austrian Federation of Industries.
April 16, 2014
Slovakia as a Role Model?
In an interview with Austrian daily “Wirtschaftsblatt”, Tomas Malatinsky, Economy Minister of Slovakia, talked about budget discipline, investments and tax policy.
April 16, 2014
IMF Upgrades Growth for Slovenia
In its latest report the International Monetary Fund has raised its projection for GDP growth in Slovenia.
April 9, 2014
Fitch: Polish Rating Foundations Very Solid
As reported by news portal “Warsaw Voice”, rating agency Fitch considers the Polish credit rating foundations to be very solid.
April 8, 2014
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Hungarian Electorial Law Supports Major Parties
Orban is the clear winner of the parliamentary elections in Hungary. He stressed that there are no more conflicts with the EU than any other member state had.
April 7, 2014
Serbia: Effective Measures for Economy
The Serbian Chamber of Commerce considers the measures for economic growth “a very big thing”.
April 7, 2014
Hungary: Clear Victory for Orban
Today, Hungary has held parliamentary elections. Despite controversial and radical reforms, Prime Minister Orban was confirmed.
April 6, 2014
Hungary: Orban Faces Re-Election
Tomorrow, Sunday, Hungary holds national elections. Despite the difficult economic frame conditions in Hungary, the centre-right government is expected to be confirmed for the next four years.
April 5, 2014
Serbian Future Government Needs to Be “Compact”
According to the deputy leader of SNS, Aleksandar Vucic “shall introduce iron discipline in the Government.”
April 3, 2014
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VIG: Takeover of Donaris Successful
Acquisition of the Moldovan insurer Donaris completed
April 3, 2014
Austria: “Financial Crisis is Not Yet Over”
Deputy Chancellor and Finance Minister Michael Spindelegger considers the financial crisis not to be completely over.
April 2, 2014
Austria: Industrial Production Loses Momentum
Austrian industry loses some momentum after strong growth at the start of the year.
March 28, 2014
Leitl: “Growth Must Not Mean Less Reforms”
Economic growth is now weaker than in the previous phases of upturn.
March 28, 2014
Austria: Economic Growth Slowly Getting in Gear
Wifo (Austrian Institute of Economic Research) projects economic growth in Austria to revive again only at the end of this year.
March 27, 2014
Serbia: Program for New Government in Progress
The future government will have to implement extensive reforms. Vucic, whose party saw a landslide victory in the parliamentary elections, is working on the government’s program.
March 26, 2014
Poland: Good Starting Point for Economic Growth
Economic growth for 2014 is expected to accelerate to 3.1 percent to 3.2 percent in the first quarter while for the full year it is anticipated to come at 3.5 percent, according to Polish Economy Minister Janusz Piechocinski.
March 26, 2014
Hungary: Orban Striving to Become PM Again
In an attempt to gain another four years as head of the government Hungarian Prime Minister Viktor Orban praises the country’s achievements in the past years since his Fidesz party came into power.
March 26, 2014
Poland: Promising Years Ahead
Poland observes the crisis in Ukraine with great concern, but does not forget to upgrade national resources.
March 25, 2014
Austria: Unemployment Rate to Remain at Record High
The Austrian unemployment rate is expected to remain at a record high even in 2015.
March 25, 2014
Serbia to Continue Talks with IMF
Serbia's Minister of Finance Lazar Krstic announced that an International Monetary Fund (IMF) mission will visit Serbia for talks on a new three-year arrangement shortly after a new government is formed.
March 21, 2014
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