A Styrian politician is in hot water after failing to declare over 100,000 Euros in cash visiting Venezuela. Weekly magazine profil revealed that Andreas Grauf, the mayor of Pirka near Graz, had 110,000 Euros in the inner pocket of his jacket when he arrived in the South American country in May. According to the European […]
Austria supplied Syria with armoured vehicles in 2006, according to an investigation by Amnesty International (AI). The group announced yesterday (Weds) Austrian firms delivered vehicles of such kind worth two million Euros to the Arabian country that year. AI added the same type of vehicles were shipped from Austria to Yemen in 2006. AI criticised […]
Struggling Hypo Group Alpe Adria (HGAA) withdraws from nautical leasing operations in Southeast Europe. The bank – which is currently trying to restore its finances after being nationalised in 2009 – said around 320 leased HGAA vessels were currently operating, down from 700 in 2008. International consulting company PriceWaterhouseCoopers claimed in 2009 that 400 HGAA […]
Austrian Airlines (AUA) is set to introduce higher cancellation fees, Austrian business newspapers report today (Weds). Viennese dailies write that the economically challenged airline will ask costumers wanting to cancel or change their bookings for flights within Europe for 60 instead of 50 Euros as of 1 August. Reports also have it that changes regarding […]
Germany is challenging Austria’s position as a top investor in Croatia. Figures presented by the Croatian National Bank (HNB) today (Fri) reveal that German companies spent 131.8 million Euros in the country in the first quarter of this year, more than any other country. German firms only spent 90.4 million Euros in the same time […]
The Austrian economy seems to reassert itself, new figures presented by a creditors’ protection organisation show. The Creditors’ Protection Association of 1870 (KSV) said today (Weds) that 1,672 companies declared bankruptcy in the first half of this year. This is a three per cent decrease compared to the first six months of 2010, according to […]
A large number of people has signalised interest in two high-profile aviation industry positions, it was reported today (Tues).Flughafen Wien AG (FW) announced that “more than 110” businesspeople handed in their applications for the two vacant executive board positions. The company which manages Austrias biggest airport, Vienna International Airport (VIA, VIE) explained it […]
Bank Austria (BA) has decided to abstain from taking over struggling rival Hypo Group Alpe Adria (HGAA), according to a report.The Kurier newspaper writes today (Fri) that BA decided not to acquire HGAAs Austrian department. Only in March, the BA CEO Willibald Cernko said it would be “highly ignorant” to rule out an investment due […]
The turnover of electricity and gas provider EVN AG has dropped slightly, new figures show.The Lower Austrian company said today (Thurs) it achieved a turnover of 1.63 billion Euros in the first half of the 2010/2011 business year, 0.3 per cent less than in the same period of the previous business year.EVN added that its […]
Austria and Germany are enjoying an economic upturn – bouncing back following the crash in 2008 and recession of 2009.But despite the current positive economic news, companies are being warned of troubled times ahead, and the need to use the current positive situation as a chance to prepare for troubled times ahead.This was the message […]