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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
Kneissl is Insolvent
Parts of the Austrian Kneissl group have started insolvency. Sheikh Al Jaber’s capital contribution did not take place.
February 8, 2011
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Energie AG Plans Capital Increase
The Upper-Austrian energy company is to raise funds in order to realize further investment projects.
February 7, 2011
Sales Increase at Darbo
The Austrian jam manufacturer increased its sales by 5% in 2010. Already 42% go to exports.
February 5, 2011
Berglandmilch Merger Approved
The merger between the Austrian market leader Berglandmilch and Tirolmilch was approved by the Federal Competition Authority (FCA).
February 5, 2011
Austria Provides 1.09 million Beds for Tourists in 2010
In Austria, the bed capacity utilization in the winter season is higher than in the summer season.
February 4, 2011
Consumption Expenditure of Foreign Tourists Grows
Russian and Chinese tourists are proving to be particularly generous consumers in Austria. Overall sales rose by 23% in 2010.
February 3, 2011
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Swarovski plans to grow again
The traditional Tyrolean company intends to increase its sales by 10% after three difficult years.
February 1, 2011
Increase in Passengers at Austrian Airports
Every of the six Austrian Airports could record substantial growth in passengers in 2010. Their number rose by 7.9%.
January 31, 2011
Kneissl: Insolvency Seems Inevitable
The traditional Austrian ski producer Kneissl, owned by the Arab investor Al Jaber, did not pay its mature liabilities for months.
January 3, 2011
Hypo Tirol Regroups
The Tyrolean Hypo Bank AG is planning a new market direction, staff restructuring and financial consolidation.
November 16, 2010
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