Ball guests expenditures will pour more than 70 million Euros into the Viennese economy this winter, according to research.The citys Economy Chamber (WKW) said today (Mon) ball guests spending on tickets, taxi rides and visits to the hairdresser will help the citys businesses to around 74 million Euros in the upcoming ball season.WKW said it […]
Red Bull Racing profits soar
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Red Bull Racings profits before taxes were up more than six-fold year on year in 2009, according to British media.The Daily Telegraph reports today (Mon) that the British Formula One (F1) team which is financed by Austrian energy drinks producer Red Bull increased to 4.6 million Euros from 2008 to 2009.The newspaper also […]
Lufthansa upset by Austrian ticket tax
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Lufthansa boss Wolfgang Mayrhuber has appealed to the Austrian government to remain a reliable partner and pull out from setting up a tax on flight tickets.The Austrian businessman, who will retire as head of the German airline by the end of this year after having been in charge since 2003, said today (Fri) that […]
Austrian industry’s turnover up
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Turnover of Austrias productive sector improved by more than seven per cent year on year in July, it has been reported.Statistik Austria said today (Fri) the companies in the countrys industrial and construction branch rose by 7.7 per cent to 19.3 billion Euros.The sectors metal production department did best. The sectors monthly turnover soared by […]
Strabag snatches Koralm tunnel order
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Strabag SE has been assigned to begin one of Austrias biggest infrastructure projects.Carinthian Freedom Party (FPK) Governor Gerhard Dörfler announced today (Fri) that the Vienna-based market leader was contracted to build both sections of the Koralm tunnel.The railway tunnel will connect the Carinthian capital of Klagenfurt and Graz in Styria from 2022. Strabag said it […]
Carinthian machine and packaging manufacturer Hirsch Servo AG managed to reduce its losses in the past business year.The company said today (Fri) it suffered net losses of 6.2 million Euros in the 2009/2010 business year, down by 4.5 million Euros year on year.Hirsch Servo, which managed to keep its turnover stable at around 86 million […]
Austrian unemployment rate edges up
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Austria has failed to retain its position as the Eurozones jobless rate model pupil, it emerged today (Fri).Figures presented by Eurostat, the European Commissions (EC) statistics agency, show that 4.5 per cent of people living in Austria had no job last month (August 2010: 4.3 per cent). The Netherlands, which took second place in August, […]
Lufthansa has said it expects its subsidiary Austrian Airlines (AUA) to be in the black in 2011.The German aviation giant acquired a major interest in the Vienna-based company last year. AUA has carried out a strict cost-cutting programme during the past few months. It said the plan was to reduce its overall staff number of […]
Verbund earnings tumble
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Verbund AG, Austrias leading electricity provider, suffered a significant decline in earnings in the first nine months of this year.The company, which was founded in 1947, announced today (Thurs) that earnings before interest and taxes (Ebit) dropped by 22.1 per cent year on year to 625.6 million Euros in the first three quarters of 2010. […]
Quanmax equity and earnings jump
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Notebook producer Quanmax has managed to raise its equity in the first three quarters of this year.The Upper Austrian company, which was formerly named Gericom, announced today (Thurs) that its equity soared from 18.1 million Euros in December 2009 to 32.7 million Euros. This amount means the firm currently has an equity ratio of 52 […]