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Austria-Western Europe Business & Diplomatic Relations

Goals of Austria's OSCE Chairmanship 2017

Germany will chair the OSCE until the end of December and will then hand over to Austria in 2017. Austria will promote greater security and stability as well as the preservation of common values within the OSCE region.

August 31, 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

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

Brexit and Its Consequences for Austria

Like any other economy within the euro area, Austria will also be confronted with challenges following the Brexit vote, according to the latest analysis by RBI Research analysts. However, the economic momentum should not experience any noticeable weakening, even though one should expect considerable declines in exports to the United Kingdom.

July 1, 2016

Stock Markets Including Vienna Stocks Nosedive on Brexit Vote

The Vienna stocks are plummeting on Friday, in line with historic losses on other European and international markets, after the Brits voted to leave the EU in Thursday's referendum.

June 24, 2016

What Brexit Means for Austria: Mitterlehner, Kurz, Fiat Steyr

Mitterlehner hopes that the referendum will end in Britain staying in the EU. Kurz says, that Brexit would be terrible. Fiat could relocate production of agriculture and construction machine maker CNH (Case New Holland) from UK to Steyr in case of Brexit.

June 20, 2016

20 Years Comprehensive Nuclear-Test-Ban Treaty (CTBT): Ministerial Meeting at VIC

Marking the 20th anniversary of the signing of the Comprehensive Nuclear-Test-Ban Treaty (CTBT), a Ministerial Meeting was held at Vienna International Center. Hosting some 40 international organizations, Austria is a hub for the promotion of peace, safety and security, sustainable development and the fight against crime, drug abuse and terrorism.

June 20, 2016

Austrian Microelectronics Company AMS Buys British CCMOSS

Styrian microelectronics company AMS has acquired British firm Cambridge CMOS Sensors (CCMOSS). The agreement for the acquisition of all shares of CCMOSS for cash has already been signed, the Austrian company, listed on the Swiss stock exchange, announced on Thursday. The price has not been disclosed.

June 16, 2016

Mogherini Visits Vienna to Discusses Migration and Nuclear Disarmament Issues with Kurz

EU High Representative Federica Mogherini met with Sebastian Kurz in the margins of the CTBT Ministerial in Vienna on 13 June. Mogherini und Kurz stressed their support for the entry into force of the CTBT and the importance of nuclear disarmament and non-proliferation.

June 13, 2016

IMD Competitiveness Ranking: Austria Edged Up to Rank 24

According to the latest issue of the competitiveness ranking established by Swiss research facility Instituts für Management-Entwicklung (IMD), Austria edged up from rank 26 to 24 y/y in 2015.

May 31, 2016