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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
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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
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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
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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
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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
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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
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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
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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
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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
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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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No Money from Al Jaber: Restructuring of Kneissl Has Failed
The last attempt to rescue the Tyrolian ski manufacturer has failed as majority owner Al Jaber has not transferred the € 2.1m necessary to continue business. The company will be liquidated.
June 15, 2011
Swarovski to Invest in US Jewelry Retailer
The Tyrolean optics and crystal group is attracted by a global distribution network of 2,000 stores. The two companies already have a strategic partnership.
June 7, 2011
Kneissl: Creditors Accept Restructuring Plans
Al Jaber has to pay € 2m into an escrow account before June 15. Otherwise, the Tyrolian company will be liquidated.
June 1, 2011
Hypo Tirol Continues Restructuring Process
The Supervisory Board of the Austrian regional bank appoints two new board members. Furthermore, withdrawal from Germany and Switzerland is to take place.
April 27, 2011
ÖBB Promote Construction of the Brenner Tunnel
After the ÖBB detached themselves from the financing of the Brenner tunnel in February, an agreement was reached with the Ministry of Finance.
April 14, 2011
Plansee Expands Into Chile
The Austrian Plansee Group acquires minority ownership of the Chilean company Molibdenos y Metales S.A.
April 5, 2011
Increase of Profits at RLB Tirol
Raiffeisenlandesbank Tirol registered a higher yearly net profit despite falling income. Risk provisions were greatly reduced.
April 5, 2011
BTV with Record Figures in 2010
The regional bank for Tyrol and Vorarlberg was able to increase its net income from 20.4% to 61.8%.
March 26, 2011 · Updated: March 26, 2011; 13:03
Tax Revenue from the Tyrolean Industry is Picking up Strongly
IV (Industrialists Association) President Schretter said: "The manufacturing industry contributes hugely to prosperity; no new burdens for our companies, the costs of green electricity are an enormous burden"
March 15, 2011
Signa Holding Invests More than € 1.00bn
The Austrian real estate holding company conducted by Rene Benko intends to put strong effort into further growth.
March 7, 2011
Brenner Tunnel: ÖBB will not pay
The Austrian Federal Railways will only accept to build the tunnel for € 10bn, if the costs are passed on to the state.
February 22, 2011
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