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Austria and Turkey Business and Diplomatic Relations

Do & Co Holds on to Plans in Turkey

The political turmoil in Turkey is apparently no obstacle for the businesses of the Austrian catering company DO&CO;. The company will, as planned, continue "its activities in Turkey and has expressed commitment to its long-term projects”. The renewal of the contract with Turkish Airlines is currently subject to negotiations.

August 23, 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

Austrian Post Takes Over 30% of Advanced Commerce Labs

Austrian listed postal group Post AG is taking over 30 percent of Styrian firm ACL (Advanced Commerce Labs) which is specialised in e-commerce and online trade, Kleine Zeitung writes in its Saturday issue. The former sole owner was EOSS Industries, a Graz-based investment firm. The price has not been disclosed. ACL employs about 100 people. The transaction volume in e-commerce amounts to about EUR 150 million (USD 167 million) per year. ACL’s revenue reached EUR 6 million in 2015.

July 4, 2016

Vienna-Istanbul Flights Cancelled after Attacks

Wednesday flights between Vienna and Istanbul were cancelled following the attack at the airport of Turkey's capital, the Vienna airport spokesman Peter Kleemann said. It remains to be seen whether further flights after the two morning ones will be cancelled, he added.

June 29, 2016

Azeri Socar Interested in OMV's Petrol Ofisi

Azeri State-owned oil company Socar is considered interested in the Turkish subsidiary of OMV, the company Petrol Ofisi. The Azeri company will tackle the possible acquisition in September.

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

Austria's EU-Turkey Refugee Agreement Payment to Be Made in Autumn

Austria wants to pay its contribution to the EU-Turkey refugee agreement in autumn. The first installment is to be paid in Q4 2016, a spokesperson of the Finance Ministry said. Austria is to contribute EUR 45.6 million to the scheme.

April 21, 2016

Report: Drug Money and Opiate Trafficking on the Balkan Route

A report recently launched by the United Nations Office on Drugs and Crime (UNODC) shows that the total value of illicit heroin and opium trafficked from Afghanistan to Western Europe through the Balkans amounts to some $28 billion every year. Sixty-five per cent of this total ($18 billion) is generated in Western and Central Europe.

December 14, 2015

Austrian Ministry of Foreign Affairs: Council of Ministers Places 27 New Diplomats at Head of Embassies

The Council of Ministers of the Austrian Ministry of Foreign Affairs has decided to place 27 new Austrian diplomats at head of Austrian Embassies worldwide.

December 10, 2015

Foreign Minister Kurz Met Adel al-Jubeir and King Salman bin Abdulaziz

During his first visit to Saudi Arabia, Austria's Foreign Minister Sebastian Kurz was received both by his Saudi Arabian counterpart Adel al-Jubeir, as well as King Salman bin Abdulaziz. The talks included besides bilateral issues - which also include economic relations - the future of Syria, the danger of the "Islamic State" and human rights.

November 27, 2015