An economist has rubbished claims that only the financial sector is to blame for the crisis. Stefan Bruckbauer, the chief economist of Bank Austria (BA), said on Saturday: “I don’t claim that banks are totally innocent since they financed the debtors.” Bruckbauer told the Kurier the Republic of Austria had to invest 1.7 billion Euros […]
Green groups have raised the alarm over plans to use a controversial mining technique known as Fracking around Lake Constance in Germany that is already banned in some countries. Gas and oil is harvested naturally after it leaks into underground reservoirs from source rocks – but with fracking the natural process is accelerated. Expanding chemicals […]
The number of people opting for annual Wiener Linien tickets is soaring. A spokesman for the Viennese public transport agency told the Kurier newspaper today (Fri) that more than 8,000 people ordered annual passes last month. He explained that the average number of purchasers of this kind of ticket used to range around 2,000. Rising […]
Gourmet escapes in Kitzbühel
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The ski resort of Kitzbühel in Tyrol, Austria is hoping to provide visitors with both a luxurious snowy and foodie experience this winter season with their snow pass packages. The legendary resort is known not only for its 170 kilometres of ski slopes but also for its high class gastronomy. The 60 runs are accompanied […]
Austrians unimpressed by rising rents
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Almost one out of five Austrians consider investing in real estate within the next 12 months, according to an investigation. Public opinion agency Integral found that 19 per cent of Austrians planned to spend money on properties in the coming 12 months – five per cent more than in the previous quarter. The research group’s […]
WU wants higher budget
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The head of one of Austria’s biggest universities has said the current situation at his institution was “dramatic”. Vienna University of Economics and Business (WU) boss Christoph Badelt explained yesterday (Mon) that the things were becoming increasingly difficult due to a soaring number of students who qualified to sit their final exams. He said the […]
Austria is investigating how much money it could generate by a tax on financial transactions, according to Chancellor Werner Faymann. The chairman of the Austrian Social Democratic Party (SPÖ) told radio station Ö1 this morning (Tues) a team of experts were examining the issue for the government coalition of his party and the People’s Party […]
Schlecker to sell foreign business
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Works council chiefs and unionists are closely observing developments at Schlecker as the German drugstore chain revealed plans to sell its international business. Schlecker officials announced yesterday (Mon) they wanted to put the firm’s foreign activities for sale to ensure meeting creditors’ demands. The Ehingen-based enterprise started controlled insolvency procedures last month. Schlecker, which runs […]
HGAA hopes for black 2011
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Hypo Group Alpe Adria (HGAA) managed a solid performance, according to its CEO. Gottwald Kranebitter said yesterday (Mon) the bank could have reached the black in 2011. Kranebitter stressed that final figures for the past year would not be released before March. He said the current course was increasing the chance to find a new […]
Upper Austrian People’s Party (ÖVP) Governor Josef Pühringer has put the federal government’s cost reduction course into question. Pühringer said today (Tues): “Everybody who thinks that subsidies could be reduced by billions of Euros is wrong.” The ÖVP wants to reduce the state’s annual spending on private and public companies, cultural institutions and various organisations […]