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Salzburg Summit: Europe's Challenge in the Global Economy
The Salzburg Summit 2024 provided a platform for discussions on the pressing economic and political challenges facing Europe. One of the central debates revolved around the tense relationship with the major economic power China and the resulting impact on European competitiveness.
July 25, 2024
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
Focus on Austria: EU Commission Launches Four Infringement Proceedings
The European Commission has today launched four new infringement proceedings against Austria as part of its monthly package of measures against Member States. The proceedings concern critical areas such as the environment, banking, and transport and underline the need to correctly implement European directives.
July 25, 2024
EU Rule of Law Report: Clear Criticism of Austria and Hungary
The EU Commission has sharply criticized the situation in Austria and Hungary in its latest Rule of Law Report 2024. The main focus is on political influence on the judiciary and a lack of transparency. The report, published annually since 2020, analyzes the state of the judiciary, media, and rule of law in the 27 EU member states and makes concrete recommendations for necessary reforms.
July 24, 2024
Austria Calls for a Reorientation of EU Policy Towards Syria
Austrian Foreign Minister Alexander Schallenberg is calling for a fundamental reorientation of EU policy towards Syria and is receiving support from seven of his EU colleagues from Italy, Croatia, the Czech Republic, Cyprus, Greece, Slovenia, and Slovakia.
July 23, 2024
Imfarr: Another Austrian Real Estate Developer in Insolvency
The Viennese real estate developer Imfarr Beteiligungs GmbH has applied to the Vienna Commercial Court for restructuring proceedings without self-administration. The company's liabilities amount to around 604 million euros. This affects 18 employees and around 110 creditors.
July 23, 2024
False Accusations Against Federal Police Chief Takacs in Wirecard Case Must Be Revoked by FPÖ
Austrian domestic politics recently experienced a considerable shake-up due to false accusations by the FPÖ, which claimed that Federal Police Director Michael Takacs had met with the fugitive ex-Wirecard manager Jan Marsalek on several occasions. These accusations led to legal action by Takacs, which resulted in a retraction and a cease-and-desist declaration by the FPÖ.
July 21, 2024
Vienna's Mayor Ludwig Reacts to Gang Violence in the City
In recent weeks, there has been a series of violent clashes between ethnic groups in Vienna, which have unsettled the population. The recent incident at Yppenplatz in Ottakring in particular, in which two men were seriously injured, has further exacerbated the situation. In response, Mayor Michael Ludwig has announced that the city's rapid reaction force will be increased in terms of personnel, while at the same time demanding comprehensive measures from the federal government.
July 21, 2024
Austrian National Bank Examined the Spread of Crypto Assets in Austria
Cryptocurrencies such as Bitcoin are widely known in Austria, but their actual distribution in private households remains modest. A recent study by the Austrian National Bank (OeNB) found that only 3% of the population own crypto assets. These few owners usually only hold small amounts, which rarely make up more than a third of their total financial assets.
July 16, 2024
Simpsons Cartoon Art: Unique Exhibition at the Caricature Museum Krems
To mark the 35th anniversary of the cult series “The Simpsons”, the Caricature Museum Krems is the first in Europe to present a special exhibition entitled “Here comes Bart! Simpsons Cartoon Art from the William Heeter and Kristi Correa Collection”.
July 16, 2024
Austria Among the World Leaders in Organic Viticulture
Austria is continuing its successful course in environmentally conscious viticulture and for the first time has more than 10,000 hectares of certified organic vineyards. The 10,432 hectares now correspond to around 24% of the country's total vineyard area, making Austria one of the global leaders in organic viticulture.
July 15, 2024
Twelve New Black Hawk Helicopters for the Austrian Armed Forces
The contract for the purchase of twelve UH-60M Black Hawk helicopters for the Austrian Armed Forces has been signed. This significant purchase represents an important step towards modernizing and expanding the Austrian Armed Forces' aircraft fleet.
July 15, 2024
Austria Businesses Heading for a Record Year of Bankruptcies in 2024
Austria is facing a possible record year for corporate insolvencies in 2024. The current economic situation shows a significant increase in insolvencies, especially in the first half of the year.
July 15, 2024
North Korean Agents in Vienna: A Network of Espionage and Currency Procurement
Vienna, the capital of Austria, is not only known for its high quality of life and cultural diversity but also conceals a network of espionage and illegal activities that extends to North Korea. New revelations shed light on the covert operations of the Kim regime, which cleverly uses its presence in Vienna to procure foreign currency and gather knowledge for nuclear armament.
July 11, 2024
Indian Prime Minister Modi in Vienna: A Historic Visit to Strengthen Relations
Indian Prime Minister Narendra Modi visited Austria and was officially received by Federal Chancellor Karl Nehammer. It is the first time in 41 years that an Indian Prime Minister has traveled to Austria. This year also marks the 75th anniversary of diplomatic relations between the two countries. Modi emphasized the deep bond based on shared values such as democracy and the rule of law.
July 10, 2024
Austrian Foreign Minister Schallenberg Opposes Boycott of Hungary's EU Presidency
Austrian Foreign Minister Alexander Schallenberg has firmly opposed a boycott of Hungary's EU Presidency, despite the controversial solo actions of Hungarian Prime Minister Viktor Orbán, who recently traveled to Moscow without an EU mandate. Schallenberg emphasized the importance of maintaining a professional working relationship within the EU.
July 10, 2024
Harald Vilimsky Becomes Vice President of the "Patriots for Europe" Faction in the EU Parliament
On July 8, 2024, the new faction "Patriots for Europe" was founded in the European Parliament. With 84 members from twelve countries, this group represents the third-largest faction and is led by Jordan Bardella, the chairman of the French Rassemblement National (RN).
July 9, 2024
Austria's Challenges and Successes in the OECD Report
The OECD has presented its latest country report for Austria. Every two years or so, the Organization for Economic Cooperation and Development analyses each member country as a whole and summarizes the findings of this analysis in a comprehensive report. Austrian policymakers have now taken up this report and are hotly debating it.
July 9, 2024
Politicians Debate Austrian Foreign Policy in Times of Global Change
Austrian foreign policy was the focus of a topical debate with Foreign Minister Alexander Schallenberg during the Federal Council session. Under the title "Austria's Foreign Policy in a Time of Global Change", the Federal Councillors discussed the challenges and direction of Austrian neutrality as well as the integration of the Western Balkans into the European Union.
July 8, 2024
Reorganization Proceedings of Signa Prime Selection Fail in Court for the Time Being
In a significant decision, the Vienna Higher Regional Court (OLG) upheld the appeal of the Finanzprokuratur against the trustee restructuring plan of Signa Prime Selection AG. The reorganization plan previously confirmed by the Commercial Court of Vienna was thus annulled.
July 8, 2024
Fights Over Women's and LGBTQI+ Rights at the United Nations
The UN Human Rights Council is currently engaged in heated discussions over the formulation of resolutions concerning the protection of women and LGBTQI+ persons. The UN High Commissioner for Human Rights and Austrian, Volker Türk, expressed his deep concern that established rights are increasingly being called into question.
July 7, 2024
Official Visit of Hungarian President Tamás Sulyok to Austria
The official visit of Hungarian President Tamás Sulyok to Austria began with a festive reception at the Hofburg Palace in Vienna. Federal President Alexander Van der Bellen warmly welcomed his counterpart and emphasized the long tradition of close cooperation between the two countries. The reception took place with military honors, symbolizing the deep-rooted friendship between Hungary and Austria.
July 7, 2024
Indonesian Foreign Minister in Vienna For Ratification of the Comprehensive Nuclear Test Ban Treaty and Recognition of Palestine
During her visit to Vienna, Indonesian Foreign Minister Retno Marsudi met the Executive Secretary of the Comprehensive Nuclear-Test-Ban Treaty Organization (CTBTO), Dr. Robert Floyd, and her Austrian counterpart Alexander Schallenberg. Ms. Marsudi's agenda included supporting the Comprehensive Nuclear-Test-Ban Treaty (CTBT) and strengthening bilateral relations with Austria.
July 4, 2024 · Updated: July 5, 2024; 15:21
Algerian Foreign Minister Ahmed Attaf in Vienna on Close Economic Relations
Austria's Foreign Minister Alexander Schallenberg welcomed his Algerian counterpart Ahmed Attaf to Vienna for a working visit. During the talks between the two foreign ministers, particular attention was paid to the joint fight against illegal migration and the expansion of economic cooperation, especially in the field of green hydrogen.
July 4, 2024
OSCE Chairman Ian Borg Concludes Central Asia Trip: Focus on Regional Cooperation and Security
In an intensive diplomatic mission, the Chairman of the OSCE (Organization for Security and Co-operation in Europe) and Maltese Foreign and European Affairs Minister Ian Borg visited the Central Asian countries of Kazakhstan, Tajikistan, and Kyrgyzstan. The trip aimed to strengthen cooperation and emphasize the role of the OSCE in tackling regional security challenges.
July 4, 2024
Vienna Stock Exchange Reaches New All-Time High in First Half of 2024
The Vienna Stock Exchange recorded a remarkable upward trend in the first half of 2024, taking the ATX Total Return (including dividends) to a new all-time high. The leading national index surpassed its previous high of February 9, 2022 (8,251.98 points) several times and reached its most recent record of 8,566.58 points on May 21, 2024.
July 4, 2024
Salzburg Forum Ministerial Conference 2024: ICMPD at the Center of Efforts against Migration and Human Trafficking
The ministerial conference of the "Forum Salzburg" in Laxenburg took place under the leadership of the Austrian Minister of the Interior Gerhard Karner. It attracted high-ranking representatives from the Forum's member states as well as the EU Commission and various regional and EU agencies. Discussions focused on topics such as asylum and migration, the fight against people smuggling, and measures against extremism and terrorism.
July 2, 2024
25 Years of the OSCE Mission in Kosovo: An Anniversary of Success and Cooperation
The OSCE Mission in Kosovo celebrates its 25th anniversary and looks back on a quarter of a century of intensive and successful work in the service of peace, democracy, and human rights.
July 1, 2024
OSCE and OIC Intensify Cooperation: High Commissioner on National Minorities Visits Jeddah
The High Commissioner on National Minorities of the Organization for Security and Co-operation in Europe (OSCE), Kairat Abdrakhmanov, met with the Secretary General of the Organization of Islamic Cooperation (OIC), Hissein Brahim Taha, and members of his cabinet in Jeddah, Saudi Arabia. The meeting aimed to discuss concrete ways to strengthen cooperation in areas of common interest.
July 1, 2024
Economic Outlook in Austria: High Inflation and Stagnation Until 2026
The Austrian Institute of Economic Research (WIFO) has published a comprehensive analysis of economic development and inflation forecasts for Austria, covering the years 2024 to 2028. The study shows that Austria will continue to struggle with high inflation until mid-2026 before the European Central Bank's (ECB) target of two percent is reached. At the same time, the economy will not see a slight recovery until 2025.
July 1, 2024
Kuwaiti Ambassador Talal Alfassam Visits Salzburg: Deepening Bilateral Relations and Investment Opportunities
The Austro-Arab Chamber of Commerce (AACC) organized the visit of H.E. Talal Alfassam, the Ambassador of Kuwait to Austria, to Salzburg.
June 30, 2024
Kickl, Orbán, and Babiš: An Alliance for a New Right-Wing Europe
At a joint press conference in Vienna, FPÖ leader Herbert Kickl, Hungarian Prime Minister Viktor Orbán, and former Czech Prime Minister Andrej Babiš announced the formation of a new right-wing group in the European Parliament. This "patriotic" alliance is to become the largest right-wing group in the EU Parliament and aims to form a strong opposition force against the established parties.
June 30, 2024
Vienna Once Again Named the World's Most Liveable City
Vienna has done it again: for the third time in a row, the Austrian capital has been named the most liveable city in the world by the British "Economist" group. In the annual "Global Liveability Ranking", Vienna beat 172 other cities to take the top spot once again.
June 27, 2024
Austria's Progressive Stance on Cyber Operations and International Law
The United Nations Office for Disarmament Affairs published a national declaration by Austria on the application of international law to the cyber activities of states. This declaration complements a list of more than 30 national positions and comprehensively addresses issues such as state sovereignty, non-interference and due diligence, diplomatic and consular law, international humanitarian law, and neutrality.
June 27, 2024
Leopold Museum Presents New Exhibition "German Expressionism"
The Leopold Museum in Vienna is opening a new focus exhibition entitled "German Expressionism". This exhibition brings together works by important artists such as Alexej von Jawlensky, Wassily Kandinsky, Ernst Ludwig Kirchner, Paula Modersohn-Becker, and Gabriele Münter and places them in an imaginary dialog with Austrian Expressionists.
June 26, 2024
UNODC World Drug Report 2024: Expanding Drug Market, Ese, and Harms Increase World Drug Problem
The newly published World Drug Report by the UN Office on Drugs and Crime (UNODC) paints an alarming picture of the global drug problem. The report documents a significant increase in drug use and trafficking, leading to a rise in drug addiction and considerable environmental damage.
June 26, 2024
Austria's External Trade Deficit 2023 has Fallen Sharply
Austria recorded a remarkable reduction in its foreign trade deficit in 2023. As the latest figures from Statistics Austria show, the deficit fell by around 90 percent from 20.59 billion euros in 2022 to just 2.02 billion euros. This decrease is mainly due to cheaper energy imports, especially gas.
June 25, 2024
Malta Launches OSCE Conference on the Security Implications of Climate Change
A high-level conference on climate change was held in the Maltese capital Valletta, organized by the Chairmanship of the Organization for Security and Co-operation in Europe (OSCE). This conference aims to examine the security implications of the climate crisis for the OSCE area and to emphasize the urgent need for cooperative efforts to tackle this global challenge.
June 25, 2024
Swiss Novartis Opens Fastest Cell Culture Facility in Tyrol
Novartis opened a state-of-the-art cell culture facility for the production of monoclonal antibodies in Schaftenau, Tyrol.
June 24, 2024
One Year of "Friends of the Western Balkans": A Review of Progress and Challenges
The "Friends of the Western Balkans" initiative celebrated its first birthday under the leadership of Austria's Foreign Minister Alexander Schallenberg. Launched a year ago, the group aims to support and accelerate the EU integration process of the Western Balkan countries. The foreign ministers from Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia met again in Göttweig to celebrate this milestone, review the past year and discuss future steps.
June 24, 2024
IAEA Chief Grossi Visits Peru: Agreements on Nuclear Technology for Food Security, Mining and Lithium
Rafael Mariano Grossi, Director General of the IAEA, signed agreements with Peruvian Foreign Minister Javier González-Olaechea to promote nuclear technology use in food security, health, and environmental protection.
June 21, 2024
Intensification of Cooperation between the Republic of Moldova and Austria: Visit of Popșoi to Vienna
The Foreign Minister of the Republic of Moldova, Mihai Popșoi, is in Vienna to hold important talks with the Austrian Foreign Minister Alexander Schallenberg, while the OSCE is holding talks in Chișinău with Moldovan state officials. These visits are part of Popșoi's wider efforts and travels across Europe to intensify cooperation between Moldova and the EU and Moldova's European aspirations.
June 21, 2024
Schwarzenegger's Climate Conference in Vienna: "Austrian World Summit" Calls for Concrete Measures
The "Austrian World Summit" (AWS) took place in Vienna for the eighth time. Host Arnold Schwarzenegger and several prominent guests emphasized the urgency of concrete climate protection measures. Around 700 international visitors, including high-ranking politicians and experts, gathered in the Vienna Hofburg to discuss the future of a clean energy supply and the fight against climate change.
June 20, 2024
Europa-Forum Wachau 2024: A Commitment to the Future of Europe
This year's Wachau European Forum, which traditionally takes place in Göttweig and Krems, opened with the title "Rebooting Europe". The forum focused on key topics such as innovation, research, and health to make Europe fit for the future.
June 20, 2024
Signa Group Stabilizes After Insolvency: Former CFO Retires
Following the collapse of the real estate group Signa, the former CFO Manuel Pirolt sees the company stabilized and announces his resignation.
June 20, 2024
25 Years "Partnership for Peace Consortium": Anniversary Celebration and Signing of a Memorandum of Understanding
NATO Headquarters in Brussels hosted an important celebration on Friday to mark the 25th anniversary of the Partnership for Peace Consortium of Defense Academies and Security Studies Institutes (PfPC). At the invitation of the German Minister of Defense, high-ranking representatives of the "Stakeholder Nations" came together to pay tribute to the successes and future goals of the consortium.
June 20, 2024
Moscow Announces Enhanced Revision of its Nuclear Doctrine
Russia's nuclear doctrine, particularly concerning its large arsenal of non-strategic nuclear weapons (NSNW), has become one of the most pressing issues in Euro-Atlantic security. Russia is planning to revise its nuclear doctrine, the Russian Foreign Ministry has announced. This decision is of course being made against the backdrop of the ongoing war of aggression against Ukraine and the reactions of the West.
June 18, 2024
30 Years of the WKÖ Export Prize: Austrian Companies Honored for Top Performance
Austria's export industry has achieved impressive successes over the last 30 years. EU accession in 1994 played a key role in this, paving the way for a more than five-fold increase in goods exports. Despite challenging framework conditions, the 63,700 domestic export companies achieved a record value of 200 billion euros in goods exports and 83 billion euros in services exports last year.
June 18, 2024
OSCE Chairman Ian Borg Reaffirms Peace Efforts at Ukraine Summit in Switzerland
The Ukraine peace summit on the Bürgenstock in Switzerland emphasized the OSCE efforts under the leadership of Ian Borg, while Russia was conspicuous by its absence and strict negotiating conditions.
June 17, 2024
Austria's Common Tones in Times of War and Conflict
Five musicians with Israeli, Arab, and Persian roots from Daniel Barenboim's West Eastern Divan Orchestra performed at Palais Niederösterreich, under the auspices of Foreign Minister Alexander Schallenberg, highlighting the unifying power of music amid global crises and conflicts.
June 17, 2024
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