Explore Business Standard
Don’t miss the latest developments in business and finance.
Austria
Russia's state-owned natural gas company Gazprom stopped supplies to Austria early Saturday, according to the Vienna-based utility OMV after it said it would stop payments for the gas following an arbitration award. The official cutoff of supplies before dawn Saturday came after Austrian Chancellor Karl Nehammer on Friday held a hastily called news conference to emphasise his country has a secure supply of alternative fuel for this winter. OMV said it would stop paying for Gazprom gas to its Austrian arm to offset a 230 million-euro (USD 242 million) arbitration award it won from the International Chamber of Commerce over an earlier cutoff of gas to its German subsidiary. The Austrian utility said in an email that no gas delivery was made from 6 a.m. on Saturday. OMV said on Wednesday it has sufficient stocks to provide gas to its customers in case of a potential disruption by Gazprom, and said storage in Austria was at more than 90 per cent. Russia cut off most natural gas suppli
The far-right Freedom Party had a lead over the governing conservatives in Austria's national election on Sunday and was well-placed for its first win in a parliamentary vote, a projection showed. But its chances of governing were unclear. The projection for ORF public television, based on partial counting, put support for the Freedom Party at 29.1% in the parliamentary election and Chancellor Karl Nehammer's Austrian People's Party at 26.3%. The centre-left Social Democrats were in third place with 20.9%. Herbert Kickl, a former interior minister and longtime campaign strategist who has led the Freedom Party since 2021, wants to become Austria's new chancellor on the back of the first far-right national election win in post-World War II Austria. But to become Austria's new leader, he would need a coalition partner to command a majority in the lower house of parliament -- and rivals have said they won't work with Kickl in government. The voter has spoken. Change is wanted in our ..
Prime Minister Narendra Modi left for home on Wednesday after concluding his visit to Russia and Austria, during which he held talks with the top leadership of the two countries and discussed ways to expand bilateral cooperation. "PM @narendramodi emplanes for New Delhi after concluding a successful visit to Austria," the Prime Minister's Office said in a post on X. Modi first travelled to Russia, where he participated in the 22nd India-Russia summit with President Vladimir Putin, in his first trip to Moscow since the Ukraine conflict. During his visit, he told Russian President Putin that a solution to the Ukraine conflict is not possible on the battlefield, and peace talks do not succeed amidst bombs, guns and bullets. The prime minister was on Tuesday officially conferred the 'Order of St Andrew the Apostle' award by President Putin for his contribution to fostering bilateral ties between the two countries. The award was announced in 2019. From Moscow, Modi travelled to Austria
Prime Minister Narendra Modi on Wednesday said India has given 'Buddha' to the world, not 'Yuddha' (war) which means it has always given peace and prosperity, and therefore the country is going to strengthen its role in the 21st century. Addressing the Indian diaspora in Vienna, Modi also said that India is working towards being the best, the brightest, achieving the biggest and reaching the highest milestones. "For thousands of years, we have been sharing our knowledge and expertise. We didn't give 'Yuddha' (war), we gave the world 'Buddha'. India always gave peace and prosperity, and therefore India is going to strengthen its role in the 21st century," Modi said in Austria, a day after he arrived here from Moscow where he highlighted the importance of finding a peaceful solution to the Ukraine conflict during his talks with President Vladimir Putin. Describing his first visit to Austria as "meaningful", Modi said that after 41 years, an Indian Prime Minister has visited the ...
India and Austria on Wednesday supported any collective effort to facilitate a "peaceful resolution" consistent with international law and the UN Charter to the Ukraine conflict and said that achieving a comprehensive and lasting peace in the eastern European country requires bringing together all stakeholders. A joint statement issued after the talks between Prime Minister Narendra Modi and Austrian Chancellor Karl Nehammer here said the two leaders exchanged in-depth assessments of recent developments in Europe as well as West Asia. The two leaders underscored the importance of democratic countries such as India and Austria working together to contribute to international and regional peace and prosperity. Modi arrived in Vienna from Moscow on Tuesday night after meeting Russian President Vladimir Putin. Prime Minister Modi and Chancellor Nehammer "exchanged in-depth assessments of recent developments in Europe as well as West Asia/Middle East. They noted the complementarities in
India is an influential and credit-worthy country whose role is more than important when it comes to the Russia-Ukraine peace process, Austrian Chancellor Karl Nehammer said on Wednesday and offered his country as a site for dialogue as a neutral country. Nehammer's remarks came during his joint press statement with visiting Prime Minister Narendra Modi after their formal talks. Nehammer said he discussed with Modi the conflict in Ukraine. Prime Minister Modi arrived here after holding several rounds of talks with Russian President Vladimir Putin in Moscow. "We had very intensive talks about the Russian aggression against Ukraine. For me as the Federal Chancellor of Austria, it is particularly important to get to know India's assessment and to understand it and to familiarise India with European concerns and worries," he said. "Moreover, the conflict in the Middle East was a major topic," he added. Before he visited Austria, Nehammer said Prime Minister Modi met President Putin.
The India-Austria friendship is strong, and it will get even stronger in the times to come, Prime Minister Narendra Modi has said as he met Austrian Chancellor Karl Nehammer for a private engagement ahead of their official talks on Wednesday to tap the full potential of the bilateral partnership. Modi arrived here from Moscow on Tuesday evening on a two-day visit, the first by an Indian prime minister in over 40 years. Modi was welcomed by Austrian Foreign Minister Alexander Schallenberg at the airport. "An important milestone in India-Austria partnership! PM @narendramodi hosted by Austrian Chancellor @karlnehammer for a private engagement. This is the first meeting between the two leaders. Discussions on realising the full potential of bilateral partnership lie ahead," MEA Spokesperson Randhir Jaiswal said in a post on X, along with photographs of the two leaders together in Vienna. Modi was seen hugging Nehammer in one of the photos, while in another, the Austrian chancellor was
The Congress on Tuesday recalled the key role India's first prime minister Jawaharlal Nehru played in the early fifties in the emergence of a sovereign and neutral Austria, and said those "suffering from Nehruphobia" like Prime Minister Narendra Modi will also do well to recall it. Ahead of Modi's Austria visit, Congress general secretary, in charge of communications, Jairam Ramesh said the Republic of Austria was established fully only on October 26, 1955, which is celebrated as its National Day and one person who was critical to this becoming a reality was none other than the man "Mr. Modi loves to hate and defame". "Dr. Hans Kochler, a noted Austrian academic, has written about the key role Jawaharlal Nehru played in the early fifties in the emergence of a sovereign and neutral Austria after a decade of occupation by the victorious World War II powers," Ramesh said. One of Nehru's most ardent global admirers was the legendary Bruno Kreisky, who was Chancellor of Austria during ..