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Signa Group in Crisis: Saudi Arabian Sovereign Wealth Fund Seeks Complete Takeover of Selfridges
The economic turbulence surrounding the Austrian Signa Group has taken a new turn: The Saudi sovereign wealth fund Public Investment Fund (PIF) is planning a complete takeover of the renowned British department store Selfridges. This announcement comes at a time when Signa, under the leadership of founder René Benko, is facing significant financial challenges.
July 25, 2024
Strengthening Economic Relations Between Austria and Saudi Arabia
The Saudi Minister of Economy, Faisal Al-Ibrahim, visited Vienna and met with the Austrian Federal Minister of Labor and Economy, Martin Kocher. A Memorandum of Understanding (MoU) was signed as part of the 9th Saudi-Austrian Joint Committee, which aims to strengthen further and diversify economic relations between the two countries.
June 5, 2024
OPEC+ Extends Production Cuts Until 2025
Representatives from Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman met in Riyadh on the sidelines of the 37th OPEC and Non-OPEC Ministerial Meeting (ONOMM). During the meeting, the participating countries decided to extend the existing production cuts until the end of 2025.
June 2, 2024
Austria's Schallenberg Visits Saudi Arabia: Exchange on Middle East Conflict and Economic cooperation
Austria's Foreign Minister Alexander Schallenberg visited Saudi Arabia as part of his latest visit to the Middle East and met with his Saudi counterpart Prince Faisal bin Farhan. The talks focused on the Middle East conflict and the intensification of economic relations between the two countries.
May 23, 2024
Austrian Technology at the Center of Gigantic Construction Projects in Dubai
The Austrian company Doka is continuing its international success story and will once again demonstrate its expertise in high-rise construction. The planned Azizi Tower in Dubai, which is to be completed within the next four years, aims to become the second tallest building in the world.
March 5, 2024
Saudi Arabia Allows Alcohol Sales to Foreign Diplomats for the First Time
In a significant change to its long-standing policy, Saudi Arabia has decided to allow the public sale of alcohol to "non-Muslim diplomats". This marks a historic departure from the country's strict alcohol ban.
January 25, 2024
Rene Benko and the Future of the Signa Group: Silence Before the Storm?
The Austrian Signa Group once celebrated as a shining star in the real estate sky and a powerful player in the retail sector, is currently facing uncertain times and financial turbulence. Company founder Rene Benko, who has led the group from a non-operational position since 2013 and holds the majority of voting rights through his family foundations, is at the center of a heated debate about the group's future.
November 6, 2023
Meet the New Permanent Representative of Saudi Arabia to the International Organizations in Vienna
Abdullah bin Khaled Tawlah, Saudi Arabia's new permanent representative, presented his credentials to the Director-General of the United Nations Office at Vienna, Ghada Waly. Meet Ambassador, Abdullah bin Khaled Tawlah, the new permanent representative of the Kingdom of Saudi Arabia to the International Organizations in Vienna.
September 27, 2023
Historic Center of Vienna Remains on the UNESCO Red List
The historic center of Vienna remains on UNESCO's red list of endangered World Heritage Sites despite recent changes to the Heumarkt project. This was decided by UNESCO. Now it is being examined whether the project is compatible with World Heritage in this way.
September 13, 2023
Austria's Ex-Economy Minister Schramböck in Saudi Arabia: Progress on Women's Rights and Economic Opportunities
The former Austrian Minister of Economy, Margarete Schramböck, has given insights into her new professional activities in Saudi Arabia in an interview with the magazine "trend". She is currently on the board of Aramco Digital, a digital subsidiary of Saudi Aramco, the world's largest oil company, which was founded in spring 2023. Schramböck plays an important role there, which she describes as "between the executive board and the supervisory board."
September 7, 2023
OPEC+ Surprisingly Cuts Oil Production
The OPEC+ alliance has announced a surprise cut in oil production. There will probably be a reduction of about one million barrels per day from May onward.
April 3, 2023
Minister Schallenberg Promoted Dialogue at Munich Security Conference
Austrian Foreign Minister Alexander Schallenberg attended the 59th Munich Security Conference. He met with several counterparts and he emphasized the importance of communication in these difficult times.
February 19, 2023
Weekly Briefing: Latest Developments in Diplomacy
The Find out more about this week's developments. Austrian policymakers are concerned with inflation and energy issues. Read about the latest developments in diplomacy in Vienna and Austria.
September 8, 2022
Austro-Arab Chamber Strengthens Relations with Kuwait, Saudi Arabia, Sudan and Egypt
The Austro-Arab Chamber of Commerce (AACC) strengthened its relations with Kuwait, Saudi Arabia, Sudan and Egypt. The AACC Secretary-General Mouddar Khouja met with important ambassadors and dignitaries from Kuwait, Saudi Arabia, Sudan and Egypt.
September 7, 2022
Space Diplomacy: Saudi Arabia Signed the Artemis Accords
In joining the Artemis Accords, Saudi Arabia shows its commitment to sustainable space exploration guided by a common set of principles. In signing the agreement, Saudi Arabia becomes the 21st Artemis Accords country.
July 19, 2022
OPEC Considers Possible Exclusion of Russia From Oil Production Agreement
OPEC countries are apparently considering the exclusion of non-OPEC member Russia from the concluded oil production agreement. According to a report in the Wall Street Journal, which cites statements from insider circles, other OPEC countries could step in to meet production targets following Russia's exclusion.
June 1, 2022
Opec and Non-OPEC Members Agree Further Gradual Increase in Oil Production
At the 25th OPEC and non-OPEC Ministerial Meeting (ONOMM), the oil-producing countries decided upon a gradual increase in oil production for March. Read about this and the other decisions made at the meeting.
February 2, 2022
Saudi Center KAICIID's Relocation from Vienna to Lisbon Completed
The Portuguese Minister of State for Foreign Affairs, Augusto Santos Silva and KAICIID Secretary General, Faisal bin Muaammar signed the Headquarters Agreement in Lisbon. Austria has one less international organization, while Portugal will now host nine international organizations. Faisal bin Muaammar has now completed his second term as planned. Ms. Elham Alshejni currently serves as the Interim Deputy Secretary General of KAICIID.
November 23, 2021
Austria Deepening Relationship with Gulf States: Foreign Minister Linhart in Qatar
Qatari Prime Minister Sheikh Khalid bin Khalifa bin Abdul Aziz Al-Thani and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani recently met with Foreign Minister Linhart in Doha, Qatar. The leaders discussed various issues, including the strengthening of ties between Qatar and Austria. Linhart also met with Qatari business leaders as part of the ReFocus Austria initiative. Read about Linhart's trip to Qatar.
October 29, 2021
Loss for Vienna: Relocation of Saudi Center to Lisbon Finalized
The controversial KAICIID (King Abdullah Bin Abdulaziz International Centre for Interreligious and Intercultural Dialogue), which is largely financed by Saudi Arabia and is currently based in Vienna, will relocate to Lisbon.
October 25, 2021
Security and Stability: Austria Deepens Cooperation with UAE, Saudi Arabia and Oman
Foreign Minister Schallenberg visited the UAE, Saudi Arabia, and Oman on a four-day trip to the Gulf region. While there, he spoke with various officials, including his counterparts: UAE Foreign Minister Abdullah bin Zayed bin Sultan Al-Nahyan, Saudi Foreign Minister Prince Faisal bin Farhan Al-Saud, and Omani Foreign Minister Sayyid Badr Albusaidi. The main topics of discussion were security, especially regarding extremism, and economic recovery from the COVID-19 pandemic.
September 15, 2021
Vienna Airport: Resumption of Flights to Toronto, Abu Dhabi, Riyadh and Jeddah
Vienna International Airport announced the resumption of flights to Toronto, Canada; Abu Dhabi, UAE; and Riyadh and Jeddah, Saudi Arabia. The flight resumptions will also provide more connection opportunities to other destinations around the globe.
July 28, 2021
Covid-19 in Austria: These Are the Updated Entry Rules
Due to today's amendment of the Austrian "COVID-19 Entry Regulation 2021", we bring you an update on the regulations for entering Austria.
July 20, 2021
Weekly Briefing: Austria Prepares for a "Summer Like Back Then"
Austria is getting ready for a summer with (hopefully) little Covid-19 impact. Night life will be celebrating its full return in a week from now and travel with the Green Passport should become easier as of July 1 as well. The Find out more about this week's developments.
June 24, 2021
Saudi Arabia Aims to Deepen Relations with Austria
During a working visit by the Saudi Arabian Foreign Minister Prince Faisal bin Farhan bin Abdullah Al Saud in Vienna, he and his Austrian counterpart Alexander Schallenberg have agreed on expanding trade relations and other economic cooperations. Read more below.
June 23, 2021
Israel Flag Hoisting Crisis: Protest of Arab Ambassadors in Austria
All 17 ambassadors of Arab states accredited in Vienna protest against the raising of the Israeli flag on the roofs of the Austrian Federal Chancellery and the Austrian Foreign Ministry.
May 27, 2021
Ambassador to China Appointed New CEO of the Austrian Development Agency
Friedrich Stift succeeds Martin Ledolter as CEO of the Austrian Development Agency (ADA). Who is Dr. Friedrich Stift and what is his background?
May 5, 2021
King Abdullah Center Will Officially Leave Vienna
The King Abdullah bin Abdulaziz International Centre for Interreligious and Intercultural Dialogue (KAICIID) will officially leave Austria. After rumours of a possible reallocation, the Secretary General of KAICIID Faisal bin Muaammar has now announced that the Center is looking for a new location.
March 8, 2021
Influential OPEC Fund Celebrates 45th Anniversary
The Vienna-based OPEC Fund for International Development marks its 45th anniversary today. Since inception in 1976 by the Member States of OPEC, the multilateral development finance institution has approved more than US$25 billion in essential financing for 135 partner countries.
January 28, 2021
Start of Arab-Austrian Cultural Season 2020
The Arab-Austrian Cultural Season 2020 will be carried out under the motto “Austria and Arab Countries: A Cultural Partnership And An Extended History” has officially started.
March 9, 2020
Ambassador Kumlin Granit Takes Over from Ambassador Al-Hadid as New Chairperson of IAEA Board of Governors
The IAEA Board of Governors elected by acclamation Ambassador Mikaela Kumlin Granit of Sweden as the Chairperson of the IAEA’s Board of Governors for 2019–2020.
September 24, 2019
Meet the New Ambassador of the Kingdom of Saudi Arabia, H.E. Prince Abdullah Bin Khaled Bin Sultan Al Saud
The new Ambassador of the Kingdom of Saudi Arabia to Austria, Prince Abdullah Bin Khaled Bin Sultan Al Saud presented Austrian Federal President Alexander Van der Bellen with his letter of accreditation at the Vienna Hofburg. He is also non-resident ambassador to Slovakia and Slovenia.
September 20, 2019
Closure of Controversial King Abdullah Center in Vienna Decided
The Austrian National Council has decided to close the King Abdullah Centre in Vienna. The KAICIID - King Abdullah bin Abdulaziz International Centre for Interreligious and Intercultural Dialogue, which is largely financed by Saudi Arabia, has long been controversial. The imminent death sentence of 18-year-old Murtaja Qureiris in Saudi Arabia was the immediate cause. The majority decision of parliament must now be implemented by the Foreign Ministry under Alexander Schallenberg. The Austrian People's Party (ÖVP) spoke out in favour of a new centre under the auspices of the UN.
June 13, 2019
Emir of Qatar Struggling for Survival Visited Vienna
The 38 year old Emir of Qatar, Sheikh Tamim bin Hamad Al-Thani, who 5 years ago ascended the throne as successor of his father Hamad bin Khalifa Al Thani and is now fighting under pressure of his neighbours, especially Saudi Arabia, for the survival of his monarchy, came to an official visit to Austria to talk about business.
March 7, 2019
Saudi Arabia Closes Controversial Private School in Vienna
Saudi Arabia closes the controversial Saudi School Vienna in Vienna's Landstrasse district. The Embassy of the Kingdom of Saudi Arabia in Vienna sees "better" opportunities for integration into the local community by visiting other schools in Vienna.
February 27, 2019
The OPEC Fund OFID Has A New Director-General
Saudi Arabian national Dr. Abdulhamid Alkhalifa has taken over the post of Director-General of the OFID (OPEC Fund for International Development) from his predecessor Suleiman J Al-Herbish at the former Palais Deutschmeister at Vienna's Parkring 8. His task is to implement OFID's objective, which is to reinforce financial cooperation between OPEC Member Countries and other developing countries, by providing financial support to the latter for their socioeconomic development.
November 22, 2018
Khashoggi Case: Austria Increases Pressure on Saudi Arabia
The Austrian Foreign Ministry is now having the legal status of the controversial King Abdullah Centre (KAICIID) reviewed. The Centre has been criticised by representatives of civil society who are concerned with Saudi Arabia's poor human-rights record in fears that the KAICIID would in fact be misused by founding member and chief financier Saudi Arabia as a bridge-head for spreading Wahhabism in Austria and Europe.
October 22, 2018
Siemens Austria Builds World's Largest Metro Project in Saudi Arabia
The Austrian unit of Siemens announced in Vienna Simmering at the rollout of the first vehicle that a "a very, very big order” has been secured. With six lines and a total route length of 175 kilometers, the capital of Saudi Arabia Riyadh is planning the world's largest subway project. Siemens is to supply the entire turnkey system for two driverless metro lines.
February 24, 2016
Foreign Minister Kurz Met Adel al-Jubeir and King Salman bin Abdulaziz
During his first visit to Saudi Arabia, Austria's Foreign Minister Sebastian Kurz was received both by his Saudi Arabian counterpart Adel al-Jubeir, as well as King Salman bin Abdulaziz. The talks included besides bilateral issues - which also include economic relations - the future of Syria, the danger of the "Islamic State" and human rights.
November 27, 2015
OPEC in Vienna Decides to Keep Production Unchanged
The Organization of the Petroleum Exporting Countries (OPEC) today hosted its 167th Meeting of the OPEC Conference at the OPEC Secretariat in Vienna. Participants included OPEC Heads of Delegation and the Secretary General. There were some expectations that the production goal of 30 million barrels a day could move higher. However, the key issue the market was looking for will remain at 30 million barrels a day.
June 5, 2015
OPEC Member Countries Discuss Global Petroleum Development Strategies in Vienna
The 6th OPEC International Seminar, with the theme "Petroleum - An Engine for Global Development", aims to build on the previous events from the past decade. It is currently taking place at the Imperial Hofburg Palace in Vienna. The Seminar intends to underpin OPEC’s commitment to stabilize the international oil market by promoting cooperation and dialogue with stakeholders around the world.
June 3, 2015
Does Abdullah's Death Improve Interreligious Dialogue?
Saudi King Abdullah is dead. Continuity is assured as Crown Prince Salman succeeds brother to the throne. Saudi Arabia is repeatedly being criticised for human rights violations. The case of internet activist Badawi caused in Vienna calls for the closure of the late King Abdullah Center for Interreligious Dialogue.
January 23, 2015
Large Saudi Delegation in Vienna
A memorandum of understanding in Austrian Federal Economic Chamber between the Austrian Republic and the Kingdom of Saudi Arabia will be signed.
July 9, 2012
Erne Fittings First Austrian 100% Ownership in Saudi-Arabia
Erne buys a 50% share from the former joint venture company Mada in Jubail, Saudi Arabia.
June 4, 2012
Spindelegger: „The Reform Process has Become Unstoppable“
42nd Viennese seminar of the International Peace Institute on the Arab Spring: Austria´s Foreign Minister is optimistic for the Arab community.
May 29, 2012
Saudi-Austrian Forum in Vienna
Saudi Arabia and Austria celebrated the 55th anniversary of Saudi-Austrian relations. Foreign trade is growing substantially.
May 14, 2012
Global Demand for Solar Technology from Austria
Riyadh, the capital of Saudi Arabia, is currently home to the world's largest solar thermal plant. The technology behind this plant came from Austria.
May 8, 2012
Austrian Trade Mission 2012: “A Big Success”
With their trip to the Kingdom of Saudi Arabia, Austrian companies are highly satisfied.
April 5, 2012
Meeting between Saudi Monarchy and Austrian Embassy
The Austrian ambassador presented Investment opportunities to Saudia Arabia´s Prince Alwaleed.
March 20, 2012
Austria Benefits from Economic Boom in Saudi Arabia
An Austrian trade delegation is looking for Saudi partners. This year, the bilateral trade volume is expected to exceed € 1.0bn again.
March 14, 2012
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