Austrian economic news in a flash

(The most important economic news in Austria from 30 September) 

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Italian bank UniCredit appointed Federico Ghizzoni as its new CEO after previous group's head Alessandro Profumo stepped down surprisingly last week. Ghizzoni is currently deputy CEO of Bank Austria and is responsible for the Unicredit's eastern European business.

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The number of unemployed in Austria fell 12.5% year-on-year to 194,100 at the end of the third quarter of 2010, Statistik Austria said. The unemployment rate stood at 4.5%, down compared to 5.1% a year earlier.
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Austrian bank OeVAG has received a EUR 60m loan from German development bank KfW. The proceeds will be used for the support of German schools abroad.
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Auto parts supplier Vogl has filed for insolvency over EUR 12.9m indebtedness. The move will affect 160 employees and 190 creditors of the company.
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The output of steel construction company Hutter & Schrantz Stahlbau decreased 9% to EUR 67m in the first six months of 2010. Its EBITDA fell to EUR 3m from EUR 4.9m a year earlier. The company, however, said it has secured its utilisation by the end of 2011's second quarter.