The Austrian National Bank (OeNB) said today (Fri) it expected the Austrian economy to grow by 2.1 per cent year on year.OeNB announced only in June that the countrys economy could improve by 1.8 per cent in 2011 compared to this year.The banks latest estimation is also more optimistic than recent predictions by Austrias leading […]
A-Tec Industries AG boss Mirko Kovats will spend his own assets to save his struggling company, according to a report.Business newspaper WirtschaftsBlatt reported today (Weds) that the businessman will contribute a “substantial amount” to get the firm back on track.Kovats sent shock waves through the Austrian economy last week when he informed shareholders that he […]
Austria has retained its title of being the European Unions (EU) jobless rate model pupil.The European Commissions (EC) statistics body Eurostat found that Austria still had the lowest unemployment rate among the EU-27 with 4.3 per cent, followed by the Netherlands where 4.5 per cent of residents were out of work in August.The agency also […]
Siemens AG, the German IT and electronics firm headed by an Austrian, has been knocked down two spots in the ranking of the worlds biggest brands.The company which is headquartered in Munich, Berlin and Erlangen made 49th place in analysis agency Interbrands Best Global Brands 2010 list.Interbrand said today (Fri) Siemens current brand […]
A leading think tank has claimed the Austrian economy grew stronger than it was initially predicted to do.The Vienna-based Institute for Economic Research (WIFO) announced today (Fri) the countrys gross domestic product (GDP) rose by 2.4 per cent year on year in the second quarter of 2010, adding that this was a 1.2 per cent […]
Peoples Party (ÖVP) Economy Minister Reinhold Mitterlehner has said the Austrian economy will prove think tanks wrong by growing stronger than predicted.The Institute for Economic Research (WIFO) and the Institute for Higher Studies (IHS) said earlier this year they expected the countrys economy still considered to be in a fragile condition after the global […]
The Austrian trade industry is showing signs of recovery as exports and imports soared year on year in April.Statistik Austria announced today (Fri) foreign trade businesses reported a 13.6 per cent improvement in export rates last April compared to the same month of 2009. This improvement follows a 9.6 per cent year on year plus […]
Georg Kapsch is rumoured to follow Veit Sorger as president of the Federation of Austrian Industries (IV).Business newspapers report today (Weds) that the head of IT firm Kapsch TrafficCom AG has the best chances of heading the body. Sorgers term only ends in around two years, but the institution is allegedly interested in clarifying the […]
Siemens chief Peter Löscher said he saw signs of recovery of the European economy as he attended the opening of a new office complex in Vienna today (Fri).The Austrian said: “Tendencies of the European economy managing to recuperate are clearly visible despite the nervousness dominating the international financial markets.”Löscher stressed that a “stable and transparent” […]
Peoples Party (ÖVP) Economy Minister Reinhold Mitterlehner claimed Austria was “positioned to achieve sustainable growth” as the Organisation for Economic Co-operation and Development (OECD) predicted a bright future was ahead for the countrys economy.The body announced today (Weds) it expected Austrias economy to grow by 1.4 per cent year on year in 2010. Its most […]