Page 23 - Germany

Samil to acquire Germany-based Dr Schneider Group for over Rs 1,000 crore

Apart from the aforementioned three major global acquisitions, Samil has done seven other smaller acquisitions in India and other parts of the world in 2023

German firm Valtech Mobility enters India with Pune centre of excellence

German mobility firm Valtech Mobility on Monday announced its entry into the Indian market with the setting up of a centre of excellence in Pune. A joint venture between global business transformation agency Valtech Group and European auto major Volkswagen Group, Valtech Mobility has a robust global network and expertise in connected vehicles, shared mobility, electrification, and data monetisation. The decision to bring Valtech Mobility into the fold aligns with the company's global expansion strategy, underscoring its commitment to growth and establishing a strong presence in diverse markets, the company said in a statement. "Valtech's (Group) success in India, with established offices in Gurugram and Bengaluru, now extends to Pune with Valtech Mobility. Leveraging Pune's automotive hub, we aim to scale our team with 300 engineers in the next 2-3 years. We'll continue to foster close collaborations with our clients as we drive innovation right from the design and development phase

India skilled workers in huge demand as Germany tries to woo nurses

German Chancellor Olaf Scholz expressed the country's intention to simplify work visa rules for Indian IT workers in February to fulfil the demand for software expertise

Jaishankar meets German V-C, discusses 'opportunities' for bilateral ties

External Affairs Minister S Jaishankar on Thursday held "productive" talks with visiting German Vice Chancellor Robert Habeck focusing on "new opportunities" for bilateral ties. In a Twitter post, Jaishnakar said he and Habeck exchanged perspectives on the conflict in Ukraine and the situation in the Indo-Pacific. "Delighted to welcome German Vice Chancellor Robert Habeck in New Delhi. A productive discussion on the many new opportunities of India-Germany cooperation that a rising India presents," he said. "Also exchanged perspectives on the conflict in Ukraine and the Indo-Pacific situation," Jaishankar added. Habeck, who is also Germany's Minister of Economic Affairs and Climate Action, is in India on a three-day visit. He is accompanied by a high-ranking official and a business delegation comprising top executives of large and medium-sized German companies. Habeck said India and Germany want to further strengthen bilateral cooperation and increase investments and collaboration

India engaged with Germany for return of baby Ariha Shah, says MEA

India on Thursday said it remained engaged with Germany for the return of an Indian baby girl, who has been living in a foster care in Berlin for over 20 months. Ariha Shah was placed in the custody of Germany's Youth Welfare Office (Jugendamt) on September 23, 2021 after the then seven month-old baby suffered an accidental injury. She has been in foster care since then. India has been maintaining that it is important for the child to be in her linguistic, religious, cultural and social environment. At a media briefing, External Affairs Ministry spokesperson Arindam Bagchi said sending back the child to India is important for her cultural and national identity. "We have made very clear our desire to safeguard the child's cultural and national identity and ensure her return to India. We remain engaged with German authorities in this regard," he said. "There are separate parallel judicial proceedings underway and we are keeping close track of that," Bagchi said, replying to a questi

India, Germany to strengthen bilateral ties: German Vice Chancellor

Germany's Vice Chancellor and Minister of Economic Affairs and Climate Action Robert Habeck on Thursday said India and Germany want to further strengthen bilateral cooperation and increase investments and collaboration among companies. He arrived on a three-day visit to India on Thursday. Talking to reporters on the sidelines of the Indo-German Business Forum here, Habeck also said China is Germany's biggest trading partner and a lot of German and European companies have invested in that country. "It is a huge market and this goes the same for India and for the US for example. On the other hand we see that being dependent on only one market could be a risk and even more so if we see that economic issues are not politically neutral, that interests are interwoven in the economic relations," he said. He further said "we can't decouple from China" but de-risking and diversification is of highest importance. Diversification, he said means that other partnerships, the Indo-German ...

Madrid, Rome shut down tourist places as temperature rises to 40 degrees

The high heat in the continent is a result of an anti-cyclonic high pressure system, named 'Cerberus' by the Italian Meteorological Society

German law on forced labour to have little impact on India's trade: GTRI

The German law to prohibit forced labour and protect human rights in global business supply chains will have little impact on India's trade with the European country as India already has comprehensive rules to deal with these issues, according to a report by think-tank GTRI. Germany has banned forced labour and other labour law violations in its supply chains extending within and outside Germany. The law called the Supply Chain Due Diligence Act (SCDDA), came into effect on January 1 this year. It applies to firms with more than 3,000 employees. These include German firms and foreign firms doing business with Germany. This means that it covers a significant number of companies in Germany, and it will likely have a considerable impact on how these companies do business. Smaller firms will be covered under the law from January 2024. The SCDDA may have little impact as India already has comprehensive labour laws prohibiting child labour, forced labour, and workplace discrimination,

Thyssenkrupp Industrial Solution bags $100 mn contract from IOC Panipat

Thyssenkrupp Industrial Solution India, a unit of the German engineering major, on Wednesday said it bagged a USD 100-million order from Indian Oil Corporation to build a polybutadiene rubber plant at Panipat refinery complex in Haryana. Polybutadiene rubber is manufactured from the polymerization of butadiene and has applications in manufacturing tyres and additives. Thyssenkrupp Industrial Solutions will execute this project, with 60 kilo tonne per annum capacity, based on technology from a reputed licensor, the company said. The lump-sum EPC (engineering, procurement and construction) scope includes residual process engineering, detail engineering, project management, procurement, construction & commissioning of the plant, Rajesh Kamath, chief executive of Thyssenkrupp Industrial Solutions' chemical plant business said. Thyssenkrupp Industrial Solutions is into petrochemical and refinery, fertilizers, chlor-alkali, green chemicals, cryogenic storages etc. and has executed ...

Meta loses EU court fight over German antitrust crackdown on data

The EU's Court of Justice ruled that Germany's Federal Cartel Office didn't overstep its powers in 2019 when it ordered Facebook to overhaul how it tracks its users' internet browsing

Want to see expansion of UNSC permanent seats to include India, Brazil: UK

The UK has called for the expansion of the UN Security Council's permanent seats to include India, Brazil, Germany and Japan as well as African representation, underlining that it is high time the powerful UN body entered the 2020s. Permanent Representative of the United Kingdom to the United Nations and President of the Security Council for the month of July Ambassador Barbara Woodward's comments came as she briefed UN correspondents on the programme of work of the Security Council for the month. On reform of the UN Security Council, we want to see the expansion of the Council's permanent seats to include India, Brazil, Germany and Japan and African representation. It's high time the Council entered the 2020s, Woodward told reporters here on Monday. Woodward referred to remarks by British Foreign Secretary James Cleverly last week in which he announced the UK's ambition to drive forward reform of the multilateral system. Woodward said the UK's presidency of the Security Council in

Macron scraps trip amid rioting across France, as loved ones bury teen

President Emmanuel Macron on Saturday scrapped an official trip to Germany after a fourth straight night of rioting and looting across France in defiance of a massive police deployment. Hundreds turned out for the burial of the 17-year-old whose killing by police triggered the unrest. France's Interior Ministry announced that in the latest night of violence, 1,311 people had been arrested around the country, where 45,000 police officers fanned out in a so-far unsuccessful bid to restore order. In the violence sparked by the teen's death on Tuesday, some 2,400 persons have been arrested overall. The protesters and rioters turned out on the streets of cities and towns, clashing with police, despite Macron's appeal to parents to keep their children at home. About 2,500 fires were set and stores were ransacked, according to authorities. The violence in France was taking a toll on Macron's diplomatic profile. German President Frank-Walter Steinmeier's office said that Macron phoned on .

Germany's 5.5 mn Muslims exposed to everyday, structural racism: Report

Racism, hatred and sometimes violence against Muslims in Germany are widespread and often part of their everyday experience, according to a new report presented at the interior ministry in Berlin on Thursday. The Independent Group of Experts on Muslim Hostility worked for three years on the comprehensive report about racism and hostility toward the country's 5.5 million Muslims. The group analysed scientific studies, police crime statistics and documentation of anti-Muslim incidents by anti-discrimination agencies, counselling centers and nongovernmental organisations. The report concludes that at least one third of Muslims in Germany have experienced hostility due to their religion. However, the experts pointed out that the real numbers are likely vastly higher since only 10 per cent of Muslims appear to report hostility and hate crimes against them. Muslim life belongs to Germany as a matter of course, Interior Minister Nancy Faeser said in a statement. This makes the findings of

Inflation in Germany reaches 6.8%, while Spanish CPI hits 1.6% YoY in June

Inflation is pushing in different directions in Europe, rising in Germany and falling again in Spain, official figures said Thursday. German consumer prices jumped 6.8 per cent in June from a year earlier, up from May's 6.3 per cent, the state statistics office Destatis said. The figure was boosted in part by a widely used offer of cheap transport tickets last summer, analysts said. The increase in Europe's largest economy comes a day before the release of inflation figures for the entire 20-country area that uses the euro currency. Inflation in the eurozone has been falling from its peak of 10.6 per cent in October, coming in at 6.1 per cent in May. But that is still far above the target of 2 per cent set by the European Central Bank. ECB chief Christine Lagarde has warned inflation is persistent enough to warrant at least one more interest rate hike at the bank's July 27 meeting. Higher interest rates are central banks' chief tool against inflation. Meanwhile, lower food and ene

Deutsche Bank plans to cut 10% of 17k German retail jobs to curb expenses

The plans at Germany's largest bank come as Claudio de Sanctis prepares to take over the retail unit, known as the private bank division, on July 1

About 40% of SAP's R&D innovations come from India: India COO Rahul Baheti

In a Q&A, Baheti dwells on why his company is bullish on cloud in India and on the firm's expansion plans in the country

Germany, Intel strike $33 bn chip plant deal; $11 bn subsidy on offer

The agreement includes what Intel said was increased government support including incentives, reflecting the expanded scope of the project since it was first announced in March 2022

Germany's net-zero plan for old vehicles

Carbon-neutral synthetic fuels for existing internal combustion vehicles can revolutionise the future of transportation

Road to COP28: Bonn climate talks end without resolving finance differences

The two-week mid-year UN climate talks held in Germany's Bonn ended on Thursday without a resolution to the dispute between developed and developing countries over finance. The developed nations emphasised the urgent need for mitigation measures, while the developing countries demanded adequate financial support to reduce emissions and adapt to the impacts of climate change. These mid-year talks set the stage for political discussions at the annual Conference of Parties (COP) to the United Nations Framework Convention on Climate Change later in the year. Due to a stalemate on the issues of finance for mitigation, the governments could agree on the meeting's agenda only on the second-to-last day (Wednesday) of the conference. The developed countries wanted that the "Mitigation Work Programme", which calls for urgently scaling up emission reduction efforts in this crucial decade to fight climate change, be included in the agenda. The developing countries, however, strongly opposed this

Road to COP28: Climate talks end without resolving differences over finance

The two-week mid-year UN climate talks held in Germany's Bonn ended on Thursday without finding a resolution to the dispute between developed and developing countries over finance. The developed nations emphasised the urgent need for mitigation measures, while the developing countries demanded adequate financial support to reduce emissions and adapt to the impacts of climate change. These mid-year talks set the stage for political discussions at the annual Conference of Parties (COP) to the United Nations Framework Convention on Climate Change later in the year. Due to a stalemate on the issues of finance and mitigation, the governments could agree on the meeting's agenda only on the second-to-last day (Wednesday) of the conference. The developed countries wanted that the "Mitigation Work Programme", which calls for urgently scaling up emission reduction efforts in this crucial decade to fight climate change, be included in the agenda. The developing countries, however, strongly ...