Rumours that People’s Party (ÖVP) Finance Minister Maria Fekter will soon have to go are increasing following the most recent budget dispute. The finance minister was seen as a contender for ÖVP leadership following the resignation of Josef Pröll as chairman, vice chancellor, and finance minister last year. Economy Minister Reinhold Mitterlehner was given good […]
The money the state poured into nationalised banks is lost, according to an economic expert. Franz Hahn of the Institute for Economic Research (WIFO) said today (Weds) that the Republic of Austria might not see the billions of Euros it had poured into Hypo Group Alpe Adria (HGAA), Kommunalkredit and Volksbank AG (ÖVAG) ever again. […]
Social Democratic (SPÖ) Chancellor Werner Faymann is still facing abuse of office charges, it emerged yesterday (Thurs). The Chief Prosecution of Vienna (OStA) announced it advised prosecutors to keep examining whether Faymann applied pressure on state-funded railroad company Federal Railways (ÖBB) over a series of ads in Austria’s most popular newspaper. There have been contradictory […]
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 […]
Styria which promotes itself as the green heart of Austria is celebrating 40 years of the green heart campaign. The project was launched in 1972 to promote the Federal State of Styria which is the greenest state in Austria, with around 60 per cent forest as well as agriculture – whether pumpkins, apples or the […]
A former BAWAG PSK (BAWAG) manager could take over at Volksbank AG (ÖVAG), according to reports. Business dailies claim today (Weds) that ex-BAWAG vice chief Stephan Koren – whose late father Stephan sen. served as Austrian People’s Party (ÖVP) finance minister between 1968 and 1970 – could be asked by the state to succeed Gerald […]
Viennese Social Democratic (SPÖ) Health Councillor Sonja Wehsely has a fifty-fifty divide of the General Hospital’s (AKH) expenditures. Around two thirds of the costs of Europe’s largest clinic are currently covered by the city hall. The Republic of Austria comes up for the remaining part of the hospital’s budget. Wehsely said the state must compensate […]
A finance institute the state rescued from ruin in 2008 is in need of more money, according to the finance minister. People’s Party (ÖVP) Finance Minister Maria Fekter admitted yesterday (Tues) that Kommunalkredit – which was nationalised shortly after the collapse of US investment bank Lehman Brothers caused a global crisis – must be funded […]
The Austrian government has decided to partly nationalise one of the country’s biggest banks. Negotiators – including People’s Party (ÖVP) Finance Minister Maria Fekter and Social Democratic (SPÖ) State Secretary Andreas Schieder – announced yesterday evening (Mon) that the state would increase the small share it was currently holding in Volksbank AG (ÖVAG) to 49 […]
Heavy snowfall in mountainous areas around Austria over the last two days has resulted in nine avalanches and the death of two people. Several roads around the country are impassable after the new snow with the state of Vorarlberg left completely cut off from the rest of Austria. A series of severe avalanches in the […]