Standard & Poor’s (S&P) analyst Alois Strasser has warned that a crisis worse than the most recent one could “totally demolish” Austrian finance institutes’ capital. Strasser – who is in charge of the US American rating agency’s economic estimations for the Austrian economy – told Die Presse today (Fri) that the Republic of Austria could […]
An opposition party wants jail sentences for energy sector businesspeople while the government plans to increase the financial support of drivers. Alliance for the Future of Austria (BZÖ) head Josef Bucher announced yesterday (Weds) stricter penalties were needed to stop mineral oil firms from not passing on international trading developments to customers. Bucher said Austrian […]
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 […]
OMV boss predicts energy price jumps
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OMV AG chief Gerhard Roiss has claimed that psychological aspects often matter more regarding the price of oil than fundamental grounds. Roiss called the increase of car fuel prices a “delicate topic”. He said the price for mineral oil might rather drop in the future than rise further. But Roiss also stressed that he was […]
Prices spiral up less strongly
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Predictions that the Austrian inflation will decelerate this year appear to be correct. Products and services on offer in the country cost 2.4 per cent more last month than in March 2011. This increase followed a price jump of 2.6 per cent between February 2011 and February 2012. The annual inflation soared by 3.3 per […]
One of the world’s leading credit rating agencies has confirmed the Austrian AAA. US American agency Fitch announced yesterday (Tues) it decided to reaffirm the alpine country’s top credit rating. Fitch also gave a stable outlook on Austria’s economic development. The Austrian economy strongly depends on tourism, its retail trade – which employs more than […]
Car fuel prices rise further
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The price for petrol keeps increasing, new figures show. Motorists’ association ÖAMTC announced that one litre of diesel fuel cost 1.473 Euros on average yesterday (Tues). The organisation pointed out this was a significant increase compared to last Friday’s average price of 1.439 Euros per litre, let alone to prices 10 years ago. One litre […]
The new owner of struggling supermarket chain Zielpunkt has rubbished rumours that he plans a sale. Business newspapers are speculating about a sale of the firm in the foreseeable future due to stagnating earnings and decreasing turnover. Zielpunkt has 300 stores in Austria. Most of them are situated in capital Vienna. The enterprise has around […]
Austrians believe in economy
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Austrians are cautiously optimistic about the state of their home country’s economy. A new poll by Spectra shows that 49 per cent of residents expect the economy to develop similarly to the past months in the foreseeable future. Around 33 per cent fear a decrease while nine per cent think that the domestic economy will […]
Windfall for WBAG company chiefs
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The bosses of Austria’s most powerful companies are earning much more this year than in 2011, according to a survey. The Labour Chamber (AK) said yesterday (Thurs) that the chiefs of the 20 Austrian firms which were listed on the Vienna Stock Exchange (WBAG) would rake in 1.3 million Euros on average in 2012, up […]