Social Democratic (SPÖ) whip Josef Cap has said he is optimistic about strong support for a reform of the parliament by all represented factions. The long-time member of parliament (MP) said today (Fri) he was certain that the opposition would approve plans for a reduction of the federal parliament too “if the concept is convincing”. […]
Sberbank makes a good bargain in Austria
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Russia’s leading bank has managed to significantly lower the price it pays for the international operations group of Austria’s biggest banks. Sberbank bosses agreed with Volksbank AG (ÖVAG) managers to transfer 505 million Euros for all federal branches of Volksbank International (VBI) except its ailing Romanian department. Contracts sealing the takeover were signed in Vienna […]
Nielsen ready for a night at the opera
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Richard Lugner has praised Brigitte Nielsen as the “nicest Opera Ball guest I have ever had.” The Danish model and actress accepted the 79-year-old Viennese businessman’s invitation to this year’s Viennese State Opera Ball. Around 5,000 people will attend the glamorous event tonight (Thurs). TV channel ORF will screen all the action from the red […]
Austrias oldest person dies aged 111
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Austria’s oldest citizen has died aged 111. Hermine Nistler was born on 24 December 1900 in Favoriten in Vienna and had up until her death lived a long and healthy life. The first few years of Hermine’s life were far from easy however. When she was just eight years old, she lost both of her […]
OeNB boss criticises credit rating agency
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The head of the Austrian National Bank (OeNB) has questioned Moody’s decision to lower the outlook on the Austrian economy’s further development. OeNB Governor Ewald Nowotny said yesterday (Tues) that the government’s 27-billion-Euro budget consolidation package “is a step into the right direction”. He said the rating agency may not have considered the coalition’s measures […]
A leading rating agency has sent shockwaves through Austria by threatening to downgrade its credit rating. New York City-based credit rating agency Moody’s announced last night (Mon/Tues) that it decided to put Austria on negative credit watch due to great uncertainty about whether Europe will be able to solve the worsening debt crisis. The outlook […]
VBI sale ‘sealed soon’
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Volksbank AG (ÖVAG) bosses and Sberbank chiefs will sign contracts about the planned takeover of Volksbank International (VBI) later this week, according to Austrian business papers. Reports from today (Mon) have it that the struggling Austrian bank eventually agreed with the Moscow-based finance sector giant about a takeover price for VBI. Sberbank declared interest in […]
Viennese police officers are facing jail over failing to help a retired politician after he was assaulted by a right-wing mob. Albrecht Konecny, the former head of the Social Democrats’ (SPÖ) delegation in the federal council (Bundesrat), said a group of policemen were watching on as he was beaten up on his way home from […]
Brothel for the homeless in Vienna
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Homeless people are queueing up for free rooms in an Austrian brothel after owner Peter Laskaris said it would be unfair not to do everything he could during the current cold spell. Laskaris, owner of the Red Rooms Laufhaus in the Austrian capital Vienna, has opened his door to the homeless as temperatures of minus […]
Greens write off debt brake accord
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Greens chairwoman Eva Glawischnig has claimed the government stopped being interested in adding a debt brake to the constitution. Social Democratic (SPÖ) Chancellor Werner Faymann and Vice Chancellor Michael Spindelegger of the conservative People’s Party (ÖVP) announced in November they agreed on establishing a constitutional debt limit. The government leaders said the measure should help […]