Most Austrians fear that the nuclear disaster in Japan will lead to higher energy prices.Linz-based research agency Market found that 62 per cent expect electricity and other energy sources to become more expensive due to the detonations at the Fukushima nuclear power plant.Several countries across the world are currently reconsidering their plans to engage with […]
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TUI Travel, Europes leading travel company, is bracing for immense losses due to the riots in Egypt.TUI Austria, the German companys Austrian subsidiary, announced today (Thurs) that the whole company is expecting to make a loss of between 29 million and 35 million Euros in the first quarter of 2011 due to the thousands of […]
Austria drops in EU innovation ranking
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Austria has been left behind by Belgium in the European Commissions (EC) latest Innovation Union Scoreboard.Austria comes seventh in the ECs 2010 edition of the study which examines the conditions for innovations in the European Unions (EU) 27 member countries. The country came sixth in 2009 but has been overtaken by Belgium in the most […]
IV meets Azerbaijani leaders
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An Austrian delegation has met with Azerbaijani businessmen and the country’s political elite to discuss opportunities to do with the countries economic relationship.Azerbaijani business newspaper Trend reports that a group of entrepreneurs headed by Federation of Austrian Industries (IV) boss Veit Sorger travelled to the Eurasian countrys capital Baku to debate key topics with their […]
The global economy will grow strongly in the coming years, a Viennese think tank has predicted.The Institute for Economic Research (WIFO) said today (Mon) it expected the world economy to grow by 4.5 per cent every year until 2015. Austrias economy will grow by 2.2 per cent every year until 2015, according to WIFO.WIFO announced […]
Socialists & Democrats Group in the European Parliament (EP) leader Martin Schulz has defended the decision of the EP and the European Commission (EC) to examine Hungarys controversial new media law.Critics have claimed the check might take longer than the countrys six-month presidency of the Council of the European Union (EU) which started on 1 […]
Austrian brewers employ nearly 4,000
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Almost 4,000 people work for Austrian breweries, new figures show.A study published by magazine News reveals the countrys 69 brewing companies have around 3,900 employees. Only Germanys 1,319 breweries (29,604) and the 124 Belgian beer firms (5,190) have more staff in the European Union (EU). There are significantly more breweries in Denmark (120) than in […]
Bank Austria (BA) CEO Willibald Cernko has warned tougher rules and new taxes could make it more difficult for banks to find investors.The former HypoVereinsbank manager said today (Weds): “I think the debate over investors should have an Austrian background or come from abroad is totally misleading. The decisive question will be whether we (the […]
Residents of Vienna and Salzburg are facing fines if being caught clearing snow from the pavement onto the roads, it has been reported.Authorities in the cities confirmed today (Tues) that tenants and privately assigned snow workers will be reported to the police or fined by city council officials on the spot if they throw snow […]
Spindelegger meets German leaders
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Peoples Party (ÖVP) Foreign Minister Michael Spindelegger met with Germanys political elite today (Fri).Spindelegger was welcomed by German President Christian Wulff at Bellevue Palace in Berlin in the morning before meeting with Bundestag MPs and the countrys Foreign Minister Guido Westerwelle of the Free Democratic Party (FDP) later in the day.The ÖVP officials office explained […]