OMV AG chief Gerhard Roiss has claimed that psychological aspects often matter more regarding the price of oil than fundamental grounds. Roiss called the increase of car fuel prices a “delicate topic”. He said the price for mineral oil might rather drop in the future than rise further. But Roiss also stressed that he was […]
Predictions that the Austrian inflation will decelerate this year appear to be correct. Products and services on offer in the country cost 2.4 per cent more last month than in March 2011. This increase followed a price jump of 2.6 per cent between February 2011 and February 2012. The annual inflation soared by 3.3 per […]
The Social Democrats (SPÖ) plan an initiative for shorter working weeks. SPÖ Labour Minister Rudolf Hundstorfer said yesterday (Tues) he would appreciate a reduction of the general working volume from 40 to 38.5 hours. Hundstorfer claimed such a reform could help keeping elderly labourers and employees in work longer. He argued that lowering people’s average […]
A public opinion researcher has given the Austrian Pirate Party (PPÖ) good chances to enter the city hall of Graz next year. Sophie Karmasin of Viennese research group Karmasin said the recently established political party might manage to make it into the parliament of the capital of Styria in next year’s city hall ballot. Graz […]
One of the world’s leading credit rating agencies has confirmed the Austrian AAA. US American agency Fitch announced yesterday (Tues) it decided to reaffirm the alpine country’s top credit rating. Fitch also gave a stable outlook on Austria’s economic development. The Austrian economy strongly depends on tourism, its retail trade – which employs more than […]
The People’s Party (ÖVP) has denied that it tries to enforce an early end to the parliamentary anti-corruption commission. The panel headed by Greens parliamentary member (MP) Gabriela Moser is investigating the various alleged corrupt connections between politicians and businesspeople since January. It suffered a setback when the ÖVP and its government coalition partner, the […]
Austrians are cautiously optimistic about the state of their home country’s economy. A new poll by Spectra shows that 49 per cent of residents expect the economy to develop similarly to the past months in the foreseeable future. Around 33 per cent fear a decrease while nine per cent think that the domestic economy will […]
A heated debate has erupted following a radical traffic reform idea by the Viennese Greens. The party said on Wednesday cyclists should be allowed to cross junctions or turn right at red light in some cases. Special traffic lights could be established to introduce the model used in other European cities, the Greens said. Christoph […]
The Viennese Greens plan significant cycling rule reforms. Several Viennese newspapers report today (Thurs) that the party of Vice Mayor Maria Vassilakou wants to lift the obligatory cycling path usage law. The restriction means that all cyclists have to use cycling strips wherever available. Abandoning the ruling could create a conflict between the city coalition […]
The Economy Chamber (WKO) has warned from overly positive economic forecasts. The Institute for Economic Research (WIFO) recently said Austrian enterprises might invest 5.6 billion Euros this year in the domestic economy, 12 per cent more than in 2011. The WKO’s industrial section announced yesterday (Weds) that firms’ spending might not rise as sharply. WKO […]