A fourth corruption trial involving Ex- Telekom Austria Bosses was started on Thursday.

Former CEO Heinz Sundt and Finance Chief Stefano Colombo of Telekom Austria are accused of selling a property at the half rates of its true value without the actual process.

It has been reported by her labor ministry that Austria's unemployment sought a rise by 38,000 to 361,279 in December. If compared to last year, the total unemployment rate increased by 11.9%. In December, the unemployment rate came down to at 9.5%, said the ministry.

According to a latest report, the new Finance Minister Michael Spindelegger has recently confessed that Austria is about to target a structural budget deficit of about 1.5% of economic output next year. This will be done according to the Finance Minister in order to work towards a balanced and well as objective budget in 2016.

Austrian lender Volksbanken has announced that there are chances that it might take the help of bonds issued by the regional savings banks in order to cover the capital gap that can emerge in 2014.

According to a latest report, a British teenager recently died due to a sudden avalanche while skiing in Austria. Sources revealed that due to this sudden storm, the father of the child is seriously injured.

It has been revealed by the sources that the age of the boy was 16 years and he was skiing with his father, twin brother and an experienced ski guide.

As per a latest report, Italy and China have been declared as best option for ski holidays in Europe as they are economical. Italian and Austrian resorts are considered as the most attractive destinations for skiers and snowboarders, especially for budget-conscious skiers.

Austria's Hannes Reichelt, who has finished ski racing in the downhill at second-place, has talked about difficulties to get a place in the Olympics team.

Austria and Italy have also decided to make the most of the ski holiday market this year. This is why both the countries have begun to narrow the gap on cheap prices in Eastern Europe.