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Climate Incentive Programs in the USA: A Magnet for Austrian and International Investors
At an information event in Austria, the U.S. Commercial Service and SelectUSA, together with the American Chamber of Commerce in Austria, provided important insights into the latest U.S. climate incentive programs. The event attracted a large number of Austrian and international investors who learned about the opportunities offered by the Inflation Reduction Act and the Bipartisan Infrastructure Law.
5 minutes ago
Raiffeisen Bank International Expects ECB Call to Accelerate Withdrawals from Russia
Raiffeisen Bank International (RBI) is facing increasing pressure from the European Central Bank (ECB) to reduce its business activities in Russia more rapidly. This follows a number of developments and the publication of an ad hoc announcement by the bank in which it is expected that the ECB will make an official request to accelerate the wind-down measures in the near future.
12 minutes ago
Russia Expels Austrian Diplomats and Threatens Further Measures
In the latest twist in diplomatic relations between Austria and Russia, the Russian Foreign Ministry has declared an Austrian diplomat an "undesirable person". This decision follows the expulsion of two Russian diplomats from Austria in March in connection with allegations of espionage.
Yesterday
Escalating Tensions: EU Responds to Iranian Missile Strikes on Israel
Tensions in the Middle East have further escalated following the recent Iranian drone and missile attacks on Israel, prompting an international response, particularly from the European Union. An urgently convened virtual meeting of EU foreign ministers, including Austria's Foreign Minister Alexander Schallenberg, took place to discuss the situation and possible steps to be taken.
Yesterday
Group DF International and Hyundai Engineering in Vienna: New Industrial Park in Ukraine
In an ambitious move to aid Ukraine's post-war reconstruction, Group DF International, led by controversial Ukrainian oligarch Dmytro Firtash, and Hyundai Engineering Co. Ltd., have embarked on a major venture to establish a chemical industrial park in the city of Rivne, situated in Western Ukraine. This pivotal agreement was officially sealed in Vienna, setting the stage for what is poised to be one of the most substantial investment initiatives in the region.
April 15, 2024
OSCE Chair Ian Borg Concludes Diplomatic Tour Across Serbia, Kosovo, and Moldova
Ian Borg, the Chair-in-Office of the Organization for Security and Co-operation in Europe (OSCE) and Malta’s Minister for Foreign and European Affairs and Trade, recently wrapped up a series of diplomatic visits aimed at strengthening partnerships and advocating for continued dialogue and cooperation within the OSCE member states, focusing on Serbia, Kosovo, and Moldova.
April 15, 2024
Vienna Stock Exchange Experiences First Record Quarter Despite Global Uncertainties
The Vienna Stock Exchange closed the first quarter of 2024 with a remarkable increase in bond listings, although the economic environment continues to be characterized by high-interest rates, the ongoing war in Ukraine and the Middle East, and high inflation. Despite these challenges, the exchange recorded a record 3,000 new listings, the best start to a year in its history.
April 14, 2024
Vienna to Host Austria's Honorary Consular Conference 2024
The Austrian capital Vienna was the center for the Honorary Consular Conference 2024, attended by around 200 honorary consuls from all over the world. The meeting, which takes place from April 10 to 12, is the first of its kind since 2015 and serves as a platform for the exchange and further development of consular practice.
April 14, 2024
Escalating Tensions at Europe's Largest Nuclear Plant Amidst War in Ukraine
As the conflict between Russia and Ukraine continues, the Zaporizhzhia Nuclear Power Plant, Europe's largest nuclear facility, has become a focal point of escalating tensions and mutual accusations between the two nations. The plant, seized by Russian forces early in the invasion, now sits precariously at the center of military and geopolitical strife, with both nations accusing each other of dangerous provocations.
April 14, 2024
FPÖ Distances Itself from Friendship Treaty with "United Russia"
In a press conference, the Third President of the National Council, Norbert Hofer, clarified that the Freedom Party of Austria (FPÖ) relativizes the friendship treaty concluded with the United Russia party in 2016. This comes in light of the recent accusations of an espionage affair involving the FPÖ.
April 14, 2024
Traditional Inaugural Visit of the Swiss Head of State to Vienna: Deepening bilateral relations between Switzerland and Austria
Swiss President Viola Amherd met with her Austrian counterpart Alexander Van der Bellen. During geopolitical uncertainty and European challenges, the bilateral talks focused on European security policy, relations with the EU, and the planned Ukraine peace conference.
April 10, 2024
Russia's Covert Influence in Europe: Current Strategy Only "Plan B"
The Czech government recently revealed the existence of a Moscow-funded propaganda network that used the Prague-based online portal Voice of Europe to influence the upcoming EU elections. Austrian political scientist Gerhard Mangott and his Ukrainian colleague Anton Shekhovtsov explained that this tactic was merely Russia's "plan B".
April 10, 2024
Slovakia Takes the Helm of ICPDR Presidency
In the annual transition for the International Commission for the Protection of the Danube River (ICPDR), Slovakia has officially taken over the presidency from Serbia, marking the beginning of a year dedicated to enhancing the health and sustainability of the Danube River Basin.
April 9, 2024
Annual Conference of European Local Councils in Vienna
In the magnificent setting of the Austrian National Library located at the Hofburg, leading political players, including Austrian Federal Chancellor Karl Nehammer and Austrian Minister for Europe Karoline Edtstadler, gathered for the conference marking the annual meeting of the European Community Councils.
April 9, 2024
Austria Deploys 50th Contingent to Kosovo for Peacekeeping
The Austrian Armed Forces are continuing their long-standing commitment to peace and security in Kosovo. At the beginning of April, the 50th contingent of Austrian troops will be deployed to the KFOR mission. This mission, in which Austria has been involved since 1999, will now be continued under the leadership of Colonel Bernhard Gruber of the General Staff Service, who will assume responsibility for around 190 soldiers.
April 8, 2024
Austria's Nehammer and France's Macron: An Alliance for Innovation and Security
During his first bilateral working visit to France, Austrian Chancellor Karl Nehammer underlined the importance of promoting innovation and the joint fight against terrorism and organized crime as key topics of his meeting with French President Emmanuel Macron.
April 8, 2024
Influential Voice in Culture and Politics: Nina Khrushcheva at the Salzburg Festival
Nina Khrushcheva, an outstanding academic, great-granddaughter of the famous Soviet Communist Party leader Nikita Khrushchev, and fierce critic of the current Russian government, will take to the podium at this year's Salzburg Festival with an opening speech that has already caused a sensation in the run-up to the festival. This event not only marks a cultural highlight of the year but also a moment of profound reflection on the role of art in turbulent times.
April 3, 2024
Transit Clash at the Alps: Italy's Salvini Against Austrian Bans
The increasingly explosive dispute over the Tyrolean anti-transit measures is escalating between Italy and Austria. Italy's Deputy Prime Minister and Transport Minister Matteo Salvini publicly accused the Austrian government of "arrogance" and criticized the European Commission for its "long-standing shameful inaction".
April 3, 2024
Seventh OPEC-China Energy Talks in Vienna: Joint Focus on Sustainable Future and Energy Cooperation
The seventh high-level meeting of the OPEC-China Energy Dialogue took place in the Austrian capital. The meeting was hosted by the Secretariat of the Organization of the Petroleum Exporting Countries (OPEC), with key representatives from both sides discussing their visions and plans for the future of energy cooperation and sustainable development.
April 2, 2024
Partial Schengen Integration of Romania and Bulgaria
A first step towards the full integration of Romania and Bulgaria into the European Schengen area has been completed. With the abolition of entry controls on air and sea travel for citizens of these countries, known as "Schengen-Air", an intermediate path was found between Romania's and Bulgaria's aspirations towards integration and Austria's veto stance.
April 2, 2024
Escalation in the Tariff Dispute: AUA Facing Massive Flight Cancellations at Easter
Austrian Airlines (AUA) is on the brink of an extensive strike, which is to begin on Maundy Thursday and last 36 hours. Negotiations between the trade union vida and AUA management have so far been unsuccessful, leading to the announcement that over 400 flights will be canceled during the peak travel period at Easter. Around 50,000 passengers will be affected by the cancellations, significantly disrupting the Easter plans of many travelers.
March 26, 2024
Focus on Closer Cooperation and EU Enlargement: C5 Foreign Ministers Meet in Ljubljana
The foreign ministers of the so-called Central 5 Group (C5) - consisting of Austria, the Czech Republic, Slovenia, Hungary, and Slovakia - met in Ljubljana, the capital of Slovenia, for a landmark meeting. This meeting marks another significant step in Central European diplomatic cooperation, which goes beyond mere neighborly assistance and focuses on the region's key challenges and opportunities.
March 26, 2024
Christoph Leitl Re-elected President of the European Movement Austria
Christoph Leitl has been re-elected President of the European Movement Austria (EBÖ). With a view to the upcoming European elections on 9 June and the forthcoming appointment of the new EU Commission in the autumn, Leitl emphasizes the importance of the EU as a peace project and the need to find European answers to current issues.
March 25, 2024
Serbian Investor Plans Entry into Austrian Addiko Bank
A new investor is showing interest in Addiko Bank, a financial institution that emerged from the former Hypo Alpe Adria Balkan banks. The Cypriot company Agri Europe Cyprus, which is attributed to Serbian businessman Miodrag Kostić, is planning to acquire a significant stake in the bank.
March 25, 2024
Trade Seminar in Vienna on the Latest Regulatory Developments in the UAE
Diplomacy, business, and finance representatives gathered in Vienna for a seminar dedicated to the latest regulatory developments in the United Arab Emirates (UAE). Organized by the Embassy of the UAE in cooperation with Crowe UAE and the Austrian Arab Chamber of Commerce (AACC), the seminar provided a platform for an exchange on innovations in tax, corporate, and immigration law in the UAE. The event received special support through the participation of experts from the UAE Ministry of Finance and the Austrian Chamber of Commerce.
March 24, 2024
Negotiations at AUA at a Standstill: Risk of Strike at Easter Increases
An impending strike at Austrian Airlines (AUA) is casting its shadow and threatening the upcoming Easter travel season. The negotiating parties are sticking to their positions regarding the collective agreements and an agreement seems a long way off.
March 24, 2024
Austrian Economic Chamber: Opportunities and Challenges for Austria in Global Trade Dynamics
Against the backdrop of an increasingly interconnected global economy and the challenges posed by geopolitical tensions, Mariana Kühnel, Deputy Secretary General of the Austrian Federal Economic Chamber (WKÖ), emphasized the critical role of international trade for the Austrian economy. On the occasion of the Market Access Day in Vienna, she spoke about the need to secure access to global markets and open the doors to international sales markets, especially for small and medium-sized enterprises (SMEs).
March 21, 2024
Francophonie Forum in Vienna: A Bridge Between Culture, Business and Sport
An event took place in Vienna that underlined the cultural and economic importance of the Francophonie. The Austrian Federal Economic Chamber (WKÖ), in close cooperation with the French Embassy in Austria and the French-Austrian Chamber of Commerce (CCFA), organized the forum "L'industrie du sport parle français" ("The sports industry speaks French").
March 21, 2024
Harmony and Dialogue at the Interreligious Iftar in Vienna
In an impressive demonstration of unity, Foreign Minister Alexander Schallenberg and the President of the Islamic Religious Community in Austria (IGGÖ), Ümit Vural, hosted an unprecedented interfaith iftar. The event, which took place in the historic Palais Niederösterreich, brought together representatives of different religious communities and personalities from politics, science, and diplomacy.
March 20, 2024
Small Unrest During EU Parliament President Metsola's Visit to Vienna
The Austrian capital was the scene of a heated appearance by EU Parliament President Roberta Metsola. During a public event at the Law Faculty of the University of Vienna, which was held under the motto "Ask President Metsola", there were loud protests and interruptions by demonstrators. The discussion, which was originally supposed to cover topics such as the future of the EU, the upcoming European elections, and international political affairs, lost focus when the Middle East conflict came up.
March 20, 2024
New Dynamics on the Labor Market and with the Red-White-Red Card: Austria Relies on the Influx of Skilled Workers
At a meeting of the interministerial Skilled Workers Strategy Committee, decisive measures to speed up the procedures for the Red-White-Red Card were discussed. The aim is to combat the shortage of skilled workers in Austria through more efficient recruitment of internationally skilled workers and to increase the location's attractiveness.
March 19, 2024
Europe at Crossroads: Austria's Push for Bosnia's EU Accession Negotiations
In a new phase of European integration and geopolitical strategy, attention is turning to the Western Balkans, particularly Bosnia and Herzegovina. At the heart of these discussions is Austria's committed plea for the opening of accession negotiations with Bosnia, a move that has the potential to shape Europe's political landscape in the long term.
March 19, 2024
Deepening Austrian-Kazakh Relations: Focus on Economic and Political Cooperation
At a time characterized by geopolitical tensions and economic challenges, Austria and Kazakhstan have reaffirmed their intention to raise bilateral relations to a new level. The working visit of Kazakh Deputy Prime Minister and Foreign Minister Murat Nurtleu to Vienna marks an important milestone in the cooperation between the two countries, with a particular focus on the economy, politics, and security.
March 18, 2024
Elections in Russia Also Held in Vienna: Between Protest and Farce
In Vienna, there were unusually long queues outside the Russian embassy as numerous young Russians lined up, sometimes for hours, to take part in the presidential election. However, their efforts were in vain as Vladimir Putin secured the elections in Russia, which were deemed neither fair nor honest internationally.
March 18, 2024
Memorial for Navalny in Vienna: A Sign of Resistance and Mourning Destroyed
An impressive testimony to the compassion and protest of the Russian community in Austria has formed in front of the Russian embassy in Vienna. In honor of the deceased Russian opposition leader Alexei Navalny, an improvised memorial was created that not only expresses grief but can also be seen as a clear statement against the Putin regime.
March 17, 2024
U.S. Secretary of State Antony Blinken in Vienna: Commitment to Global Challenges
At a time of global uncertainty and increasing challenges, U.S. Secretary of State Antony J. Blinken's visit to Vienna sent a strong message of international cooperation and diplomatic dialog. During his stay in the Austrian capital, Blinken tackled several key issues ranging from the fight against synthetic drugs to nuclear security and continued support for Ukraine.
March 17, 2024
Austria Expels Two Russian Diplomats and Austrian Ambassador in Moscow is Summoned
After Austria recently declared two Russian diplomats undesirable persons, Russia is now summoning Austria's ambassador to the Foreign Ministry. This indicates a serious deterioration in diplomatic relations between the two countries. So far, a total of eleven Russian diplomats have been expelled from Austria since 2020
March 14, 2024
European Gas Conference in Vienna Postponed due to Protests
The European Gas Conference planned for March 26-28 in Vienna is no longer on the international energy industry's calendar. Security concerns caused by announced protests forced the organizers to postpone the event indefinitely.
March 14, 2024
Cyprus Concludes Chairmanship of the OSCE Forum for Security Cooperation
The final session of the Forum for Security Co-operation (FSC) of the Organization for Security and Co-operation in Europe (OSCE) was chaired by Cyprus. Cyprus' engagement in the OSCE FSC impressively illustrates the value of dialog and multilateral cooperation, even in the most difficult times.
March 13, 2024
Inflation Outlook for Austria Shows Significant Improvement
The Austrian National Bank's (OeNB) latest inflation forecast gives cause for cautious optimism for the Austrian economy. Inflation has decreased and economic growth has also returned since the start of the year, albeit weakly.
March 13, 2024
Italy's Giorgia Meloni Advocates Development and Autonomy for South Tyrol
In a move to strengthen the autonomy and development of northern Italy, Italian Prime Minister Giorgia Meloni signed agreements with the autonomous provinces of Trento and Bolzano. The ceremonies, which took place in the respective provincial capitals, marked a decisive moment for the regions, which historically enjoyed a special autonomy within Italy.
March 12, 2024
Austria and Turkmenistan Sign Cooperation Agreement
In a step towards deepening their bilateral relations, Austria and Turkmenistan have signed a new cooperation agreement for the years 2024-2025. The meeting in Vienna between Austrian Foreign Minister Alexander Schallenberg and his Turkmen counterpart Rashid Meredov focused on topics of mutual interest, including political-diplomatic cooperation, trade and economic relations, energy issues, and cultural exchanges.
March 12, 2024
Raiffeisen Bank International Under Observation by U.S. Sanctions Authorities
Raiffeisen Bank International (RBI), a prominent financial institution based in Austria, is the focus of the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) due to its ongoing business relationship with Russia. OFAC has contacted the bank to request details of its transactions and processes related to Russia.
March 11, 2024
Austria President Van der Bellen Opens New Holocaust Museum in Amsterdam
The National Holocaust Museum in Amsterdam was opened in a festive ceremony that was overshadowed by protests. Federal President Alexander Van der Bellen, who represented Austria on this occasion, emphasized his country's profound responsibility in the context of the dark chapters of the Holocaust.
March 11, 2024
U.S. Ambassador Kennedy Will Lead Austrian Delegation to Major Investment Summit in the U.S.
In a major announcement from the US Embassy in Vienna, it has been revealed that US Ambassador Victoria Kennedy will lead a high-profile Austrian delegation to this year's SelectUSA Investment Summit. The event, which will take place from June 23-26, 2024 at the prestigious Gaylord National Resort & Convention Center in National Harbor, Maryland, is considered a key platform for promoting foreign direct investment in the United States.
March 10, 2024
Six Decades in the Service of Peace: Austria Celebrates 60 Years of UNFICYP Deployment in Cyprus
Austria's involvement in the "United Nations Peacekeeping Force in Cyprus" (UNFICYP) marks an important anniversary this year: the Alpine Republic has been supporting the peacekeeping mission on the Mediterranean island of Cyprus for sixty years. A look back at the beginnings in April 1964 shows the deployment of a field hospital with 55 men following the unanimous adoption of Resolution 186 by the UN Security Council in March of the same year.
March 10, 2024
Meet Cyprus Ambassador to Austria and Permanent Representative to the United Nations in Vienna
Andreas Ignatiou, Cyprus Ambassador and Permanent Representative, presented his credentials to Austria's Federal President Alexander Van der Bellen, and the Director-General of the United Nations Office in Vienna, Ghada Waly. Meet Ambassador, Andreas Ignatiou, the permanent representative of the Republic of Cyprus to the International Organizations in Vienna and Ambassador to Austria.
March 7, 2024
Future of EU Enlargement Discussed in Vienna: Unified Vision Required
An event in Vienna, organized by the ERSTE Foundation in cooperation with the European Council on Foreign Relations (ECFR), focused on the debate about the future of EU enlargement. Under the title "Beyond Catch-27: How to make EU enlargement work?", leading experts from various fields gathered to discuss the challenges and opportunities of integrating new member states into the European Union.
March 7, 2024
Signa's Major Project "Lamarr" in Vienna Seeks New Owner
The prestigious "Lamarr" real estate project on the bustling Mariahilfer Strasse, a flagship property of the troubled Signa Group, is now officially on the market.
March 6, 2024
Austrian ÖVP Against EPP Election Program: Nuclear Energy, Schengen Enlargement and Unanimity Principle as Points of Contention
In the run-up to the upcoming EU elections, a conflict is emerging within the European People's Party (EPP), as the Austrian People's Party (ÖVP) has announced that it will not support the EPP's election program.
March 6, 2024
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