Federal and provincial financial issues decision-makers have postponed their negotiations about the budget of the coming years. People’s Party (ÖVP) Finance Minister Maria Fekter said talks with the provincial governments’ finance councillors would continue next week. Fekter angered the politically muscular provincial parliaments by revealing plans to sanction provinces which breached the stricter new budget […]
Tag: Euros
ÖVAG and BAWAG ‘will not merge’
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FIMBAG boss Klaus Liebscher has admitted uncertainties regarding whether the state will ever again see any of its Volksbank AG (ÖVAG) participation capital. Liebscher told radio station Ö1 today (Thurs) it was impossible to make a definitive statement regarding the issue. He admitted that it was unlikely that the more than one billion Euros would […]
Muzzled MP quits
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The crisis of the People’s Party (ÖVP) seems to worsen as inner conflicts are escalating. Ferdinand Maier announced he would resign as ÖVP parliament member (MP) in May. “I am already preparing my farewell speech,” Maier – who has been one of the most outspoken critics of the ÖVP’s various leaders of the past years […]
Sberbank set to spend 300mn
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The new owner of Volksbank International (VBI) has revealed plans to invest hundreds of millions of Euros. Sberbank – which transferred 505 million Euros for the finance institute to Volksbank AG (ÖVAG) in February – announced yesterday (Tues) it would spend 300 million Euros on the restructuring of VBI to support the planned expansion. Sberbank, […]
Makeover for VIA terminals
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The terminals of Vienna International Airport (VIA or VIE) will be renovated or rebuilt, according to Flughafen Wien AG (FW). Bosses of FW – which manages Austria’s biggest airport – said yesterday (Tues) they wanted to refurbish or reconstruct VIA’s three terminals in the coming years. They also informed shareholders that the opening of a […]
Viva reveals Austrian visions
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A German music television broadcaster has disclosed plans to introduce Austrian contents. Viva officials said yesterday (Weds) they wanted to add more music by Austrian artists to the programme soon. The plan is to set up Viva Austria, a specialised programme which screens Austrian chart shows on the same channel as Viva. Around 15 per […]
Austrian Airlines (AUA) chiefs and works committee officials are fighting for a consensual solution regarding the planned austerity measures. Lufthansa, which owns AUA since 2009, wants the Viennese aviation company to achieve savings of 220 million Euros this year following last year’s losses of almost 60 million Euros. The AUA supervisory board decided last week […]
ÖBB awaits 33bn
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The Austrian government coalition has decided to inject more than 30 billion Euros into Federal Railways (ÖBB). Werner Faymann’s Social Democrats (SPÖ) and the team of People’s Party (ÖVP) ministers agreed yesterday (Weds) to support the railway company with 33 billion Euros. The money will be invested in the coming years. The subsidisation is supposed […]
The Austrian government is cracking down on another alleged safe haven for private equity. Only last week, Austrian People’s Party (ÖVP) Finance Minister Maria Fekter met with Swiss Finance Minister Eveline Widmer-Schlumpf to finalise a tax treaty between the neighbouring countries. The agreement means that Austrians’ money in Switzerland would be charged with tax rates […]
An Austrian millionaire who became an Internet sensation when he revealed he had given away everything in order to help the poor is really a conman who simply wanted to get publicity to sell his house and pay off his debts. Media around the world rushed to cover the story of Karl Rabeder when he […]