Read the latest cross-border business, finance, investment, diplomatic and cultural activities between Austria its partners
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Austria's International Economic & Political Relations

Heta Bad Bank Sells Iconic Holiday Inn Sarajevo Hotel

Bad bank Heta sold the Holiday Inn hotel in Sarajevo to tourism group Europe d.d., the company said. The iconic Holiday Inn Sarajevo was home of foreign correspondents during the 1984 Winter Olympics and throughout the siege of Sarajevo during the Bosnian War. The price was not disclosed.

July 20, 2016

Austrian Ministerial Council Approves EUR 1.5 Mln for Iraq Humanitarian Aid and Resettlement

The Austrian Ministerial Council approves 1.5 million euros in funding for humanitarian aid and resettlement in Iraq. The humanitarian aid for the population in need on the ground and measures aimed at promoting resettlement are supposed to contribute towards managing the refugee crisis.

July 15, 2016

Austria Takes Over OSCE Chairmanship: "Need for Decisive Action!"

In his first address to the OSCE Permanent Council as incoming OSCE Chairperson-in-Office, Austria’s Minister of Foreign Affairs Sebastian Kurz said that the fight against radicalization will be the main priority of Austria’s 2017 OSCE chairmanship. In first address to OSCE Permanent Council, incoming Chairperson-in-Office Austria’s Foreign Minister Kurz, stresses

July 14, 2016

New "Open Austria Initiative" Supposed to Open Doors to Silicon Valley

Foreign Ministry and Austrian Economic Chamber open joint office in California to support Austrian companies and pave their way for success in Silicon Valley.

July 14, 2016

Best Gaming Technology Acquired by Rival Playtech

Vienna-based maker of software for self-service betting terminals Best Gaming Technology (BGT) has been acquired by UK gambling software group Playtech for €138m. Playtech holds the option to purchase the remaining shares for up to €55m from Armin Sageder, the company’s founder and chief executive.

July 14, 2016

OSCE: "Reliable, Affordable and Sustainable Energy Supplies are Prerequisite for Stability and Security"

Energy experts from the OSCE Mediterranean Partners for Co-operation, representing both government institutions and private sector companies, will begin a week-long field study of sustainable energy in Austria and Germany.

July 12, 2016

Western Balkans Summit was Held in Paris

Following the 2014 Western Balkans Summit in Berlin and the Vienna Western Balkans Summit of August 2015, the third Western Balkans Summit was held in Paris in the context of the ‘Berlin Process’. More than 500,000 of the people with migration background who live in Austria are from the region. Austrian companies have hundreds of branches or subsidiaries in the Western Balkans, which clearly illustrates the very close economic relations.

July 8, 2016

Western Balkans Countries Discussed Investment, Jobs and Integration in Vienna

The World Bank and the Vienna Institute for International Economic Studies (wiiw) held a high-level policy dialogue on ‘Investment, Jobs and Integration’ last week. Ministers and senior officials from the Western Balkans region as well as policy experts from international organisations and the business community gathered to discuss the challenges the region is currently facing, in particular the high unemployment rate, low international competitiveness, and lack of modern infrastructure.

July 8, 2016

Vienna Insurance Group Buys AXA Subsidiaries in Serbia

Vienna Insurance Group (VIG) is acquiring AXA’s life and non-life companies in Serbia. The purchase will increase VIG’s market share in Serbia to around 11.5 percent.

July 7, 2016

Austrian Post's Turkish Subsidiary in Conflict with Majority Owner

Post AG is involved in a buyback conflict regarding the Turkish subsidiary. Post took over a 25-percent stake in Turkish parcel delivery service Aras Kargo in 2013; it had been granted an option to buy another 50 percent of the shares. The company has been negotiating to use the option for a year now, but has been unable to reach a compromise.

July 5, 2016