Benko accused of hiding luxury ***ets, Vienna faces intense summer heat, and Austria moves forward with subsidy transparency—plus more stories from across the country on Friday.
Vienna’s summers are getting hotter and harder to endure
The first major heatwave of the summer has swept across Vienna, with temperatures climbing beyond 36C in recent days, as reported by Der Standard.
Climate researchers warn that the number and duration of heatwaves in Austria’s capital are steadily increasing, with 2024 already marking one of the warmest years on record.
Experts say Vienna’s urban landscape is particularly vulnerable to prolonged heat, and the city has outlined adaptation measures including planting 20,000 trees, creating green and shaded “garden streets”, and redesigning nearly half a million square metres of park and public space. Researchers also highlighted the risks of increasingly frequent extreme weather events, such as flash floods.
Heatwave raises public health concerns across Austria
As temperatures remain high across the country, health officials are urging residents to take precautions, especially the elderly, children and people with chronic conditions.
According to ORF, Austria’s public health agency advises drinking up to three litres of fluid per day, avoiding direct sunlight and strenuous activity, and eating light meals.
Experts also warn of psychological effects, with studies showing that extreme heat can worsen anxiety and depression, particularly among vulnerable groups. Caritas has opened 23 “climate oases” in Vienna and Lower Austria to offer relief to those affected, while some municipalities have introduced shaded “cool down” areas and redesigned public spaces for cooling.
Benko accused of hiding luxury goods and cash during insolvency
Signa founder René Benko is alleged to have concealed luxury watches, jewellery and €120,000 in cash in safes hidden at relatives’ homes after insolvency proceedings began in March 2024.
According to Der Standard, investigators found the items during searches, including a watch concealed in a gun cabinet.
Benko denies wrongdoing and claims the items were gifts or belonged to his wife. However, prosecutors argue the concealment aimed to withhold ***ets from creditors. The Signa founder remains in custody as investigations continue.
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State subsidies over €1,500 to become public under new law
Austria will soon make all public subsidies exceeding €1,500 publicly visible, as part of a sweeping transparency reform coming into force this September. As reported by ORF, the measure was p***ed in the Constitutional Committee and is part of a broader effort to end official secrecy and adapt nearly 140 laws to the new freedom of information rules.
The updated transparency database will include subsidies not granted to private individuals and allows for data sharing in cases of suspected abuse. While supported by the coalition, the FPÖ and Greens criticised aspects of the implementation process.
Austria expected to avoid a third year of recession
Austria’s two leading economic think tanks, WIFO and IHS, now expect the country to narrowly avoid a third year of recession in 2025. Presenting their revised forecast, they now predict stagnation or slight growth of 0.1 percent, up from previous estimates of economic contraction, according to ORF.
Although consumer spending is showing signs of recovery, experts warned that inflation remains high, exports are weak, and Austria continues to lag behind other eurozone economies. Both institutes called for reforms in pensions and taxation to restore competitiveness. The budget deficit is projected to remain above EU limits until at least 2029.
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Vienna’s Grand Hotel officially files for bankruptcy
The Grand Hotel on Kärntner Ring has entered bankruptcy proceedings, according to ORF. While the hotel’s parent company, Erste Wiener Hotel AG, filed for insolvency in May, this week’s development confirms that the landmark hotel itself is also affected.
Owned by Saudi-Austrian investor Mohamed Bin Issa Al Jaber, the hotel was previously thought to be continuing operations despite its parent company’s financial difficulties. Creditors have until August 19th to register claims.
If you have any questions about life in Austria, ideas for articles, or news tips for The Local, you can contact us at news@thelocal.at or leave a comment below.
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