Austria benefited the most by the introduction of the Euro, according to an investigation. The German department of internationally operating consulting group McKinsey examined the economic performance of the 17 members of the Eurozone to determine which nation prospered the most. Twelve European Union (EU) states including Austria are the Eurozone’s founding members as they […]
Fitch confirms Austrian AAA
Categories
Another leading credit rating agency has confirmed Austria’s excellent financial condition. US American rating agency Fitch said yesterday (Tues) it decided to keep Austria’s rating at AAA, the best possible estimation agencies issue on the financial trustworthiness and stability of a country or a company. Some experts warned that Fitch might consider downgrading Austria due […]
AUA announcements alarm employees
Categories
Austrian Airlines (AUA) chief Jaan Albrecht has asked the airline’s business partners and lawmakers in Austria for help in combating the crisis. Albrecht said yesterday (Tues) he was determined to fly back into the black this year but also made clear that aviation security authorities, Vienna International Airport (VIA or VIE) and other institutions had […]
Hotels cut down investments
Categories
Austrian hotels are reducing their investments, according to a bank focusing on financing tourism projects. The Austrian Hotels and Tourism Bank (ÖHT) said yesterday (Tues) it provided hotels across the country with loans worth 880 million Euros in 2011. The tourism industry businesses financed 1,800 renovation, restoration and expansion projects with the funds, according to […]
Car fuel sales slide
Categories
Austrians acquired less fuel last year, according to a traffic research organisation. The Austria Traffic Club (VCÖ) said yesterday (Sun) around 9.6 billion litres of petrol were sold in 2011, down from 9.7 billion litres in the previous year. An all-time record was achieved in 2005 when 10.2 billion litres were sold across the country, […]
Lugner argues Sunday shopping campaign
Categories
Richard Lugner has revealed details about his Sunday shopping initiative. The businessman – who owns and manages Vienna’s Lugner City shopping centre – recently said he contacted Social Democratic (SPÖ) Mayor Michael Häupl to find out whether the city of Vienna might issue an extraordinary regulation enabling him to open on the seventh day of […]
AK calls for cooperation tax hike
Categories
Labour Chamber (AK) President Herbert Tumpel has demanded higher corporation taxes. Tumpel said yesterday (Thurs) Austrian firms had handed over just 17 per cent in taxes in 2010 despite the mandatory 25 per cent taxation rate. He explained the investigated enterprises used various loopholes to evade worse tax burdens. The AK investigated the performance of […]
Michael Ludwig has vowed to improve the quality of services to people living in social housing flats in Vienna. The Viennese Social Democratic (SPÖ) housing councillor told the Kurier newspaper today (Thurs) his department recently raised the number of advice and information checkpoints situated at community housing complexes to 100 in the past months. He […]
Asset tax hike useless, says study
Categories
An increase of taxes on assets will not help lower the state debt, according to a survey. Researchers of Salzburg University – who cooperated with a tax consultant office to conduct their investigation – said yesterday (Weds) raising Austria’s comparably low taxation rate on assets would not significantly support the government in its current attempt […]
Energy discount in eastern Austria
Categories
Three leading electricity providers have reduced their prices. The Austrian Energy Alliance – the distribution agency of Vienna’s Wien Energie, Lower Austrian company EVN AG and Eisenstadt-based BEWAG – said yesterday (Weds) it reduced the price for one kilowatt hour (KWh) of electricity by 3.3 per cent at the beginning of this month. The decrease […]