Bank Austria (BA) chief Willibald Cernko has welcomed plans to create a bank bankruptcy regulation. Austrian law currently fails to feature rules which determine under which circumstances a financial institute with headquarters in the alpine country can start regulated insolvency procedures. Real economy businesses benefit from such an option on a regular basis. It is […]
The number of unemployed people is on the rise in Austria. Statistik Austria announced yesterday (Thurs) that 310,000 residents of the country had no job in February. This is an increase of 6.1 per cent compared to the same month of 2011. Styria experienced the strongest increase among Austria’s nine provinces at 9.4 per cent. […]
Austrians acquired less fuel last year, according to a traffic research organisation. The Austria Traffic Club (VCÖ) said yesterday (Sun) around 9.6 billion litres of petrol were sold in 2011, down from 9.7 billion litres in the previous year. An all-time record was achieved in 2005 when 10.2 billion litres were sold across the country, […]
Three leading electricity providers have reduced their prices. The Austrian Energy Alliance – the distribution agency of Vienna’s Wien Energie, Lower Austrian company EVN AG and Eisenstadt-based BEWAG – said yesterday (Weds) it reduced the price for one kilowatt hour (KWh) of electricity by 3.3 per cent at the beginning of this month. The decrease […]
Young businesspeople expect a worsening of the economic climate – but they are also convinced of being able to weather the turmoil. The Association of Young Entrepreneurs said yesterday (Tues) it interviewed 2,200 self-employed Austrians in the past weeks. Around seven in 10 of them expect a new crisis but only two per cent fear […]
Lift passes cost more than twice as much in Austria’s most popular skiing resorts than in small winter sport destinations, according to an investigation. The Austrian Association for Costumer Information, VKI, said today (Thurs) comparably small regions in Lower Austria and Styria were charging less than 300 Euros for weekly passes for a whole family […]
Some of the most popular foodstuffs became significantly more expensive last month. Statistik Austria said yesterday (Weds) that dairy products became seven per cent more expensive from October 2010 to the same month of this year. Statisticians also consider eggs in this price group. The price of bread and meat rose by four per cent. […]
News of a decline of cargo shipping at Vienna International Airport (VIA or VIE) may confirm analysts’ warnings that the economic crisis is not over. A spokesman for the aerodrome – which is located a few kilometres outside Vienna – said today (Thurs) that the volume of cargo transported to and from VIA declined by […]
Volksbank AG (ÖVAG) will sack hundreds of employees in the coming two and a half years, according to a report. The Kurier claims today (Weds) that the struggling bank plans to dismiss 500 of its staff in Austria. This would mean that the bank – which did not comment on the report – would lay […]
Federal Economy Chamber (WKO) President Christoph Leitl has called on the state and Austria’s nine provinces to abstain from raising fees in 2012. Leitl told the Kurier today (Weds) cities and communities should not introduce higher prices for services such as water disposal and the provision of gas. The WKO chief argued yesterday’s metal industry […]