Austrian economic news in a flash

(The most important economic news in Austria from 24 September)  


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The planned capital increase of EUR 1bn at Austria's leading utility Verbund was approved by an overwhelming majority of 99.97% of the company's shareholders on Friday. The proceeds are to be used for the funding of up to EUR 2.5bn in investments, mainly in hydropower and in the grid. Austria, as owner of 51% in Verbund, will contribute with EUR 510m in the capital hike. The move is expected to be implemented towards the end of November. 
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Austrian economic research institutes Wifo and IHS have considerably increased the forecasts for the country's gross domestic product (GDP) growth. Now Wifo sees 2% growth in 2010, up from 1.2% projected before, while IHS improved its expectation to 1.8% from 1.5%. For 2011 the projections were increased to 1.9% from 1.6% (Wifo) and to 2% from 1.9% (IHS). The growth will be mostly supported by the booming exports.
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SW Umwelttechnik has secured new orders of about EUR 4.5m, of which EUR 1.2m in Austria and EUR 3m in eastern Europe.
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Vienna Airport is seeking 120 new employees especially in the field of handling and cleaning of aircraft. Vienna International Airport Security Services is looking for 50 new employees. The move is due to the rising traffic figures at the airport.
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Raiffeisenbank a.s., the Czech unit of Reiffeisen, intends to open at least 10 new branches in 2011, CEO Rudolf Rabinak told journalists on Friday.
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Austria's production index rose 0.3% in July 2010, compared to a month ago, and 6.8% in annual terms, Statistik Austria reported.
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The number of overnight stays in Austria rose 1.1% to 46.58 million in May to August this year, the local statistics bureau said.