Real estate mogul René Benko stands trial for fraud again
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René Benko, whose Signa property empire was once the talk of the Alpine markets, is back in an Innsbruck courtroom. The Public Prosecutor’s Office alleges he defrauded an investor's foundation of five million euros. The trial marks another legal challenge for the founder following the collapse of his extensive real estate group.
Inflation reached 3.6 percent in October. Reports suggest that without the fallout from the war in Iran, the rate would be close to the two-percent target, prompting the Chamber of Labour to call for government price interventions. Meanwhile, officials are occupied with a search for a new railway chief and a debate over how many young men are choosing civilian service over the military.
The automotive sector remains a rare bright spot. Magna is reportedly close to signing deals with Chinese manufacturers where over 100,000 vehicles could be produced annually in Graz and Slovenia. For a country worried about winter energy costs, a potential billion-euro order from the East is a welcome distraction.