Page 12 - Germany

JK Tyre to get 30 million euros long term loan from German entity

The company will invest the funds in a sustainable expansion of production capacities at its Madhya Pradesh-based passenger car radial tyre facility, the tyre maker said in a statement

Battle for Seven & i shows Japan Inc's resilience amid management buyout

Seven & i Holdings Vice President Junro Ito swooped in last month with an offer to take private the company founded by his late father

German Chancellor Scholz to submit Parl request to hold confidence vote

Scholz has agreed with the opposition to hold the vote on Feb 23, setting Germany up for a short and wintry election campaign

Europe's economy to suffer if chaos continues in France, Germany: Experts

Even before the French and German governments collapsed, Europe's economy had enough difficulties. Tepid growth and lagging competitiveness versus the US and China. An auto industry that's struggling. Where to find billions for defense against Russia? And now Donald Trump threatening tariffs. Solutions will be harder to find while the two countries that make up almost half of the eurozone economy remain stuck in political paralysis well into 2025. Where once there was the so-called French-German axis to push Europe ahead, now there's a vacuum. French Prime Minister Michel Barnier resigned Thursday after losing a vote of confidence, and while President Emmanuel Macron will appoint a successor, the new head of government will lack a majority. Elections are not constitutionally permitted until at least June. Germany's coalition led by Social Democratic Chancellor Olaf Scholz with the Greens and pro-business Free Democrats fractured in November, triggering an early election on Feb. 23.

Freedom: Book explores ex-German chancellor's journey, record, and vision

Merkel devotes a long section of her book to the rapid and unexpected events that followed November 1989

Volkswagen workers to go on warning strikes at plants across Germany

"If necessary, this will be the toughest collective bargaining battle Volkswagen has ever seen," IG Metall negotiator Thorsten Groeger said in a statement

Germany needs 288,000 immigrants yearly: How Indians can help fill the gap

Earlier this month, Germany announced it would issue over 10% more professional visas in 2024 to address labour shortages

Google to tweak search results in Europe after rivals highlight low traffic

Under the EU Digital Markets Act (DMA), Google is prohibited from favouring its products and services on its platform

Thyssenkrupp to cut 11K jobs at steel division in major corporate shakeup

Germany's largest steelmaker, a division of Thyssenkrupp AG , is under pressure from cheaper Asian competitors, high power prices and a weakening global economy,

Merkel says she felt sorrow at Trump's win, recalls awkward non-handshake

Merkel worked with four American presidents while she was German chancellor. She was in power throughout Trump's first term - easily the most tense period for German-US relations of her 16-year tenure

Bosch plans to slash 5,550 jobs in latest blow to German auto sector

Bosch, the world's biggest car parts supplier, said it is planning to cut 3,500 jobs by end-2027 in its cross-domain computer solutions division

Ashwini Vaishnaw invites German companies to trust, invest in India

Union Minister Ashwini Vaishnaw has invited German companies to invest in India, saying it is a trusted partner which offers political and economic stability. Addressing the TV9 Global Summit in Stuttgart on Thursday evening, he said India was growing steadily at 6-8 percent and was poised to continue this trajectory for many years to come. "Consider including India in your supply chain. India hosts over 1,800 global capability centres across virtually every sector. We offer a vast pool of talent, with world-renowned capabilities in IT," the minister said. "The success of our government reflects in the fact that good economics can also make good politics. While many democratic nations have faced turmoil, India remains a trusted partner, offering both political and economic stability," he said. Vaishnaw said India had a very healthy balance sheet, with debt at 57 percent of the GDP, well below the debt levels seen in other large economies. "This success is not a coincidence. It is

Germany shares unprecedented offshore property data with Indian government

The information, obtained under the 'spontaneous exchange of information' clause in the Double Taxation Avoidance Agreement between the two countries, has sparked widespread action by tax authorities

In high-wage Germany, Volkswagen's labour costs outstrip the competition

Management will start the next round of negotiations with unions representing roughly 120,000 German workers on Thursday. Unions are demanding a 7 per cent pay rise

France, Germany, other EU nations team up to develop air defence system

Many European countries have ramped up defence spending in recent years, spurred by Russia's war in Ukraine and fears the United States may cut its commitments to protect the continent

Germany raises visas by 10% for foreigners, adopts Canada's points system

Germany will issue 200,000 professional visas will be issued in 2024

Germany's Scholz discusses Ukraine with Putin in first such call in 2 years

German Chancellor Olaf Scholz condemned the war in Ukraine in a phone call Friday with Russian President Vladimir Putin, the German government said, in the first such conversation in two years. Government spokesman Steffen Hebestreit said Scholz condemned Russia's war of aggression against Ukraine during the call, and called on Putin to end it by withdrawing troops that invaded the country in February 2022. The chancellor urged Russia to be willing to negotiate with Ukraine with the aim of achieving a just and lasting peace and stressed Germany's unwavering determination to support Ukraine in its fight against Russian aggression for as long as necessary, Hebestreit said in a statement. Scholz had spoken beforehand with Ukrainian President Volodymyr Zelenskyy, and would do so again after the call with Putin, the statement said. The German leader condemned Russian air raids on Ukrainian civilian infrastructure and warned that the deployment of North Korean troops to Russia to fight i

Netherlands follows Germany, others in enforcing extra border checks

The Dutch government said on Monday that it will bring in extra checks at its land borders to combat irregular migration, similar to a policy brought in by Germany in September. It is the latest move by the country's hard-right government aimed at reining in immigration, as anti-foreigner sentiment surges across Europe. Dutch Migration Minister Marjolein Faber announced the policy in a press release after the move got the green light from the Cabinet. It is time to tackle irregular migration and migrant smuggling in a concrete way. That is why we will start reintroducing border controls in the Netherlands from the beginning of December, she said in a statement. The measure will take effect on December 9. Under European Union law, countries must give Brussels four weeks notice before restricting freedom of movement. Earlier this year, Faber told Brussels the Netherlands also wanted to opt out of EU refugees obligations. Geert Wilders, whose anti-immigration party won the largest sh

Germany's Scholz fires his finance minister amid coalition's collapse

Germany's centre-left Chancellor Olaf Scholz announced Wednesday he was firing Finance Minister Christian Lindner, signalling the collapse of the ruling three-party coalition that relied on Lindner's pro-business party. Scholz announced the move at a news conference following weeks of disputes among the coalition partners over ways to boost the country's ailing economy. He said he would seek a vote of confidence in January that he said might lead to early elections that otherwise would be due next September. I feel compelled to take this step to prevent damage to our country. We need an effective government that has the strength to make the necessary decisions for our country," Scholz said. Lindner, from the pro-business Free Democrats, had rejected tax increases or changes to Germany's strict self-imposed limits on running up debt. Scholz's Social Democrats and the environmental Greens, who are also part of the coalition, wanted to see massive state investment and rejected the Free

After execution of a German-Iranian, Germany closes 3 Iranian Consulates

Germany ordered the closure of all three Iranian consulates in the country on Thursday in response to the execution of Iranian German prisoner Jamshid Sharmahd, who lived in the United States and was kidnapped in Dubai in 2020 by Iranian security forces. Sharmahd, 69, was put to death in Iran on Monday on terrorism charges, the Iranian judiciary said. That followed a 2023 trial that Germany, the US and international rights groups dismissed as a sham. The decision to close the Iranian consulates in Frankfurt, Hamburg and Munich, announced by Foreign Minister Annalena Baerbock, leaves the Islamic Republic with only its embassy in Berlin.