Austria

Slight rise in OPEC crude price after cartel announces meeting

Organization of the Petroleum Exporting CountriesVienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) rose by 0.48 dollars Friday, following the cartel's decision to meet on October 24 to discuss production cuts.

One barrel (159 litres) of OPEC crude stood at 63.82 dollars Friday, up from 63.34 dollars on the previous day, OPEC said Monday.

In his home province, locals glorify late rightist Haider

In his home province, locals glorify late rightist HaiderKlagenfurt, Austria - Karin Zloebl started crying when she spoke of Joerg Haider, the late far-right leader who was commemorated Saturday in an elaborate public ceremony in the town of Klagenfurt.

"It is very, very hard," she said about the death of the governor of the Carinthia province, who had personally helped her son find a job.

Austria mourns far-right leader Haider in grand ceremony

Joerg Haider

Klagenfurt, Austria  - One week after Joerg Haider died in a car accident, politicians and 25,000 Austrians gathered Saturday in the town of Klagenfurt to commemorate the far-right politician.

In a grand official ceremony that took place before the private funeral, the coffin of the late governor of Carinthia was led in a procession around the centre of the provincial capital, watched by masses dressed in black or in traditional dirndl dresses and lederhosen.

Austria mourns far-right leader Haider in grand public ceremony

AustriaKlagenfurt, Austria  - One week after Austrian far-right leader Joerg Haider died in a car accident, his funeral, expected to be a grand official ceremony, was due to be held Saturday in the town of Klagenfurt.

With at least 30,000 people expected to attend the event in the capital of Austria's southern province of Carinthia, the Austrian railway company was running additional trains to cope with the masses.

The memorial service was to be attended by President Heinz Fischer, Chancellor Alfred Gusenbauer and several ministers, but it was above all set up as an event for the public.

Controversies fade and legends grow as masses mourn Haider

Vienna  - Joerg Haider was one of Austria's most divisive political figures, but his memorial service on Saturday is set up like the funeral for a national hero.

Up to 30,000 people are set to attend the public mourning in Klagenfurt, the capital of Austria's southern province of Carinthia, where Haider was governor.

Before his death last Saturday, when Haider drove drunk at 142 kilometres per hour and crashed his car, the politician was known mainly for his anti-immigrant policies, his portrayal of refugees as criminals, or calling SS veterans "respectable people."

Major Austrian banks, government rescue Constantia Privatbank

Vienna - Applying Austria's bail-out plan for the first time, leading financial institutions and the government are stepping in to rescue Constantia Privatbank AG, which was faced with a liquidity crunch, the finance ministry said Friday.

Five major Austrian banks are set to take over 100 per cent of the private banking institution that was reportedly suffering from an outflow of capital as major customers shifted their funds to bigger institutions.

In addition, the banks decided to inject 400 million euros (538 million dollars) into Constantia, while the Austrian national bank will contribute 50 million euros.

As foreseen in the Austrian government's banking package, the state will guarantee the capital injection.

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