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Latest News

Hot Summer Boosts Ottakringer Beer Consumption

Hot summer weeks boosted the sales of beverage producers, which earlier went down. Also in case of the listed beer and mineral water company Ottakringer sales and profits in the first half of the year were under previous year's level. However, the summer was successful, the head of the company Sigi Menz said. He reckons with higher sales and profit in 2015 than in 2014.

5 minutes ago

EHL Immobilien Heading for Record-Breaking Results in 2015

Following strong performance in the period from January to June this year the property group EHL Immobilien is heading for record-breaking results this year. In the first half of the year EHL handled, just as last year, a third of Austrian investment transactions. Out of this 70 percent was commercial property and 30 percent were tenement houses.

5 minutes ago

Kopf: Not More than 1,100 Baumax Employees Can Lose their Jobs

The head of the labor office Johannes Kopf said that the 1,100 employees of Baumax registered in the early warning system of the labor office is the maximum number of people who may lose their jobs. As he recalled, in case of the bankruptcy of Alpine, 4,000 people were registered in the system, but only 500 actually became unemployed, as most jobs were taken over.

1 hour ago

Number of Unemployed in Austria Grows 8.1 Percent in August

In the summer the number of unemployed in Austria increased further. At the end of August 384,585 people were unemployed. This means 8.1 percent growth, compared to last year.

1 hour ago

Record Number of Foreign Entities Set up Business in Austria

As ABA Invest, Austrian investment promotion company reported, in 2014 a record number of foreign entities decided to establish their branches in Austria. 276 companies decided to establish their representations in Austria last year.

2 hours ago

Baumax Sale to OBI - Fate of 3,800 Jobs in Austria Uncertain

After the sale of most Baumax shops to Obi and Supernova it is still uncertain how many of the 3,800 jobs in Austria will be lost. Above all, the jobs at the Baumax headquarters in Klosterneuburg are at risk.


Iran Could be Interesting Market for Austrian Automotive Suppliers

According to Siegfried Wolf, ex had of ÖIAG and CEO of Russian Machines, the Iran would be an interesting market for the automotive supplier industry, once sanctions get lifted. He noted in an interview for WirtschaftsBlatt (Monday issue) that the market was estimated at about 2 million cars and it has been stagnating for 15-20 years.


Austria Opens New Honorary Consulate in Wrocław/Breslau

The population of Wrocław is 633,802, making it the fourth largest city in Poland. Grzegorz Schetyna, the Polish Minister of Foreign Affairs opened the new Austrian honorary consulate in Wrocław (Breslau) together with Thomas M. Buchsbaum, the Austrian ambassador in Poland.


German DIY Chain OBI Acquires Baumax for EUR 200 Million

Ailing DIY chain Baumax was sold to German DIY chain OBI and Graz real-estate developer Supernova, Kurier daily and Kronen Zeitung reported. The sale was fixed contractually on Friday. The volume of the deal has been estimated at nearly EUR 200 million by Kurier.