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Tyrol
Joint European Police Raids on Benko in Austria, Italy, and Germany
In one of the largest cross-border raids in recent years, an international team of investigators has taken action against the imprisoned former real estate mogul René Benko and his Signa empire. Officials from Austria, Germany, and Italy simultaneously searched dozens of properties - including the Tyrol department store in Innsbruck, the Signa headquarters in Vienna's Palais Ferstel, and several warehouses and foundation offices.
May 7, 2025
Tyrolean Biotech Company Cyprumed Closes 493 Million Dollar Deal with American MSD
The Innsbruck-based biotechnology company Cyprumed GmbH is making international headlines with a multi-million dollar license deal: Together with the U.S. pharmaceutical group MSD (Merck & Co., Inc.), the company has signed an agreement worth up to 493 million US dollars. The aim is to develop innovative tablet formulations for peptide drugs - a potential game changer in modern drug therapies.
April 15, 2025
Swarovski Back on the Road to Success: Lux-Ignite Strategy Shows Results
After years of challenges, the Tyrolean crystal group Swarovski is back on the road to success. For the first time in five years, the company is in the black and recorded a significant increase in sales in the 2024 financial year. Thanks to the ambitious Lux-ignite strategy and a strong fourth quarter, CEO Alexis Nasard succeeded in returning the long-established company to profitability. But it was not an easy road.
March 20, 2025
Future of Benko Villa Igls Uncertain After All: City of Innsbruck Rejects Hotel Plans
The planned rededication of Villa Igls, once a renowned castle hotel and later the residence of the now-imprisoned real estate entrepreneur René Benko, has met with resistance from the city of Innsbruck. The Laura Private Foundation, whose sole benefactor is Benko's mother, was planning to use the building for tourism, but the city council has now clearly rejected these plans. At the same time, Benko remains in custody as the judiciary has made serious allegations against him.
March 12, 2025
Luxury Villa Becomes Wellness Hotel: Benko Family Leaves Estate in Igls
Following the insolvency of Signa and the imprisonment of company founder René Benko, his family is leaving the luxury villa in Igls. The property is to be converted into a wellness hotel. Meanwhile, a court ruling makes new headlines in the Benko case.
March 9, 2025
Surge in Demand for Houses as Prices Decline Across Austrian Regions
Austria’s real estate market underwent a dynamic transformation in 2024, marked by a significant surge in the demand for single-family homes alongside fluctuating property prices across the country. While potential homeowners increasingly entered the market, drawn by improved financing conditions and relaxed credit regulations, regional price trends revealed a complex picture.
February 12, 2025
Austria and Liechtenstein to Chair the EU Strategy for the Alpine Region in 2025
The handover ceremony for the presidency of the EU Strategy for the Alpine Region (EUSALP) took place at Brdo Castle in Slovenia. From January 2025, Austria and Liechtenstein will jointly take over the leadership from Slovenia.
November 19, 2024
Alpbach: Between Tradition and the Future - the European Forum Alpbach 2024
The European Forum Alpbach (EFA) celebrated its 80th anniversary in 2024. It once again attracted over 4,000 participants to the small Tyrolean mountain village, which became the center of European discourse for two weeks. Under the general theme of “Moment of Truth”, this year's forum focused on the groundbreaking decisions that Europe must make in the face of multiple crises, from climate catastrophes to political tensions.
August 18, 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
Italy Initiates EU Proceedings Against Austria
The Italian Minister of Transport Matteo Salvini has taken legal action against Austria. He has initiated an infringement procedure because of the transit driving bans in Tyrol.
January 25, 2023
Two Young Ukrainians Were Taken to Moskau
Two young Ukrainians have been brought from Tyrol to Moscow without noticing the responsible Ukrainian authorities. An employee from the state of Tyrol and the European Ombudsman office is said to have been involved in bringing young people to Moscow as part of family reunification that was not coordinated with the Ukrainian authorities.
January 15, 2023
Diplomats as Economic Bridge Builders: Austrian Companies Present Themselves to the Diplomatic Corps
International investors and cross-border business relations were what Tyrolean and Vorarlberg company representatives hoped for at the recently held "Business Location Austria" event. This brought together representatives from business, tourism and entrepreneurship with diplomats accredited in Austria to network with each other.
October 21, 2022
Austria's Population will Exceed Nine Million this Year
Austria's population is nearing nine million and should reach this mark sometime in 2022. Read more about Austria's recent population increase.
February 16, 2022
These Are Austria's Most Popular Lakes
Lake Constance is the most popular Austrian swimming lake on Instagram. Lake Wörthersee came in second, while Tyrol's Achensee, the newcomer to the podium, came in third. Read which other Austrian public bathing lakes took the 4th to 20th places.
August 18, 2021
Border Controls Between Germany and Austria "Could Stop Soon"
The German Interior Minister Seehofer and Austria's Chancellor Kurz have met in Berlin to discuss the ongoing Covid-19 pandemic. The two politicians agree on the fact that due to a decrease of the South African variant of Covid-19 in Tyrol, border controls between Germany and Austria can be suspended in the near future.
March 19, 2021
Israel, Denmark and Austria Agree on Covid-19 Cooperation
Israel's Prime Minister Benjamin Netanyahu, Denmark's Prime Minister Mette Frederiksen and Austria's Chancellor Sebastian Kurz agreed on establishing a joint research and development foundation as well as on vaccine production. Chancellor Kurz stressed the importance of global cooperation in the fight against Covid-19.
March 5, 2021
Germany Extends Entry Ban for Tyrol
The German government has decided to extend its entry ban for Tyrol until March 3, 2021. The German Health Minister Spahn sees this step as "necessary" in order to prevent the South African Covid-19 mutation from spreading in Germany. Austria's government and the EU Commission demand more coordination and dicussion.
February 16, 2021
Tyrol: The Scare of the South African COVID-19 Mutation
Actually there is a strong occurrence of the threatening South African COVID-19 mutation in Tyrol. Strict controls on tests when leaving Tyrol and administrative fines of up to 1,450 euros are intended to limit the spread of this corona mutation after the new "COVID-19 virus variant regulation" comes into force on February 12, 2021.
February 10, 2021
After Travel Warning: Further Restrictions for Tyrol
Austria's federal government has decided to further tighten the measures for the province of Tyrol, excluding East Tyrol. After announcing a non-binding travel warning, Chancellor Sebastian Kurz has now implemented tougher measures that will try to prevent the South African Covid-19 mutation from spreading to the rest of the country.
February 9, 2021
Austrian Government Warns of Travel to Tyrol
Due to the latest information on the South African Covid-19 mutation in Tyrol, the federal government has issued a travel warning for the province. All non-essential travel should be avoided and the government urges those who have been to Tyrol in the past two weeks to get tested.
February 8, 2021
Austria Fears for Winter Tourism
The upcoming winter will be an immense challenge for the Austrian tourism industry. Tourism operators are requesting general and unified regulations implemented by the government to secure planning and tourists. A major focus will be laid on Après-Ski.
August 21, 2020
Novartis Opens Production Facility for Innovative Eye Retina Product in Tyrol
The pharmaceutical company Novartis is investing EUR 27.4 million in the Kundl site in Tyrol to produce an active ingredient for a new therapy for wet age-related macular degeneration with 40 employees.
June 20, 2020
Austria: No more Border Controls with Neighbouring Countries except Italy
Restrictions on freedom of travel due to the Corona pandemic will be discontinued. The only country for which restrictions remain in place for the time being is Italy. A further evaluation is planned next week.
June 3, 2020
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
Tyrol Lifts Coronavirus-Quarantine
Tyrol is still under massive criticism and threat of a class action lawsuit from Germany and some Scandinavian countries because the authorities in the Tyrolean ski resort of Ischgl took quarantine measures very late, although warnings from these countries had already been issued. Today Tyrol's Governor Günther Platter announced during a video press conference that Tyrol would end its self-isolation.
April 6, 2020
German Embassy Vienna: Unusual Repatriation of 300 Germans from Tyrolean Ski Resorts
In an unusual repatriation operation, the German Embassy in Vienna has enabled more than 300 Germans to return home from Austrian quarantine areas.
March 30, 2020
Austria's Federal State Tyrol Under Total Quarantine
The province of Tyrol with 1.8 million inhabitants has issued a quarantine regulation for all 279 Tyrolean communities. Governor Platter: "That Tyrol isolates itself is absolutely necessary."
March 19, 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
Austrian Province of Tyrol Orders Curfew
The province of Tyrol, which is particularly hard hit by the coronavirus pandemic, is imposing a curfew.
March 15, 2020
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
Hollywood in Austria's Mountains - Avalanche Drama Film Follows Current Avalanche Danger
In Tyrol, a Hollywood drama about a married couple whose perfectly believed family life gets completely out of balance when they barely escape an avalanche is currently in the making. Austrian film funding supports the production of "Downhill" with Will Farell and Julia Louis-Dreyfus. With a shooting time of 8 weeks, an added value of 7 million Euros and 10,000 overnight stays is expected.
January 18, 2019
Austria Underlines South Tyrol´s Autonomy
Austrian State Secretary Wolfgang Waldner on working visit in South Tyrol. Austria suggests an “Alpine Strategy”.
March 19, 2012
Tyrol Equity Takes over Rim Producer BBS
The Austrian industrial hold, owned by Raiffeisen, Hypo Tyrol and Swarovski, acquired the insolvent German rim producer BBS.
February 27, 2012
Hypo Tirol Withdraws from Italy
The Tyrolean regional bank decided in favor of a downsizing strategy. The Italian market should be served through Innsbruck.
February 23, 2012
BTV: Moderate Increase in Profits
The Austrian regional bank for Tyrol and Vorarlberg reached growth in profits, total assets and lending.
February 10, 2012
S&P Downgrades Austrian Provinces
The U.S. rating agencies lowers ratings for Upper Austria, Vienna and Tyrol from “AAA” to “AA+”.
January 26, 2012
Tyrol Equity Takes Over German RSN Sihn
The Austrian investment company acquired 50.1% in the German automotive supplier company RSN Sihn.
January 2, 2012
Real Estate Boom in Austria
Property prices rose by 5.0% over the last two years. An end of the boom is currently “not in sight”, says the real estate industry.
December 14, 2011
€ 230m Capital Increase at Hypo Tirol
The province of Tyrol, the owner of Hypo Tirol, decided to strengthen the bank´s capital base. From where the funds will be provided, is not clear yet.
December 12, 2011
Hypo Tirol Needs Capital Increase
The Tyrolean bank suffers from a low equity capital quota. After major write-offs in Italy, the core capital amounts to 5.8%.
December 7, 2011
Further Write-Offs at Hypo Tirol Possible
The Tyrolean bank could make further write-offs in 2012. Non-performing loans of € 30m in Italy are still in the books.
December 5, 2011
Hypo Tirol Expects Loss of € 110m
The Austrian regional bank’s result will be impacted by major write-downs of non-performing loans in Italy.
December 2, 2011
Kneissl Acquired by “Friends of Sports”
The bankrupt Tyrolean ski producer is taken over by a German holding company. The brand name will be retained; the Kufstein production site will be expanded.
October 6, 2011
Kneissl to Be Taken Over by Foreign Investor
Negotiations about the sale of the bankrupt Tyrolean ski producer are about to be concluded. Three investors from Europe and overseas are still interested in an acquisition.
September 23, 2011
New Difficulties for Brenner Tunnel
The project of the alpine tunnel between Austria and Italy, which is the core of a trans-European axis, faces new problems. The Italian government plans to tender the license for the highway Europe-wide.
September 12, 2011
Kneissl: Decision about Sale to Be Taken in September
Four international investors are interested in taking over the insolvent Austrian ski manufacturer. A purchase price of € 4m is expected.
August 29, 2011
ugichem Closes € 2m Financing Round
The Tyrolean biotech company secured funding from two major investors and a research grant from the Austrian Research Promotion Agency.
August 9, 2011
IHS: Keuschnigg in Pole Position for Succession of Felderer
The institute’s board of trustees has voted for the Tyrolean Keuschnigg as successor of retiring boss Felderer. Contracts still have to be signed.
July 28, 2011
Bankruptcy Judge Stops Production at Kneissl
The Austrian ski manufacturer continues the search for an investor. Production has been stopped by the judge in the bankruptcy proceedings.
July 14, 2011
Plansee Group Achieved Sales Record
The Austrian provider of metallurgically manufactured products increased revenue by 46%. A new factory near Shanghai is scheduled to start operation in 2012.
July 7, 2011
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