Page 33 - Germany

Lufthansa revenues in Q3 almost doubles YoY to 10.1 billion euros

Revenues of German flag carrier Lufthansa have almost doubled year-on-year to 10.1 billion euros in the third quarter of 2022, the airline said.

Germany approves reduced investment of China in Hamburg port deal

China and Germany have reached a deal on a compromise to allow Chinese shipping group COSCO to take a smaller stake in the controversial Hamburg port deal

Kanye West, Adidas and his long list of controversies: A look at the past

Adidas has terminated its contract with Kanye West, but he is no stranger when it comes to controversies

German president arrives in Ukraine as tensions with Russia rise

Germany's president arrived in Kyiv Tuesday for his first visit to Ukraine since the start of Russia's invasion, a trip that comes amid Moscow's unsubstantiated warnings of a dirty bomb attack as the conflict enters its ninth month. President Frank-Walter Steinmeier said after arriving that it was important to me in this phase of air attacks with drones, cruise missiles and rockets to send a signal of solidarity to Ukrainians, German news agency dpa reported. Steinmeier's spokesperson, Cerstin Gammelin, posted a picture of him in Kyiv on Tuesday. Our solidarity is unbroken, and it will remain so, she tweeted. The German president, whose position is largely ceremonial, made it to Ukraine on his third try. In April, he was planning to visit the country with his Polish and Baltic counterparts, but said his presence apparently wasn't wanted in Kyiv. Steinmeier has been criticized in Ukraine for allegedly cozying up to Russia during his time as Germany's foreign minister. Last week, a

Guangdong: The Chinese province with more EV chargers than all of the US

The coastal region, which borders Hong Kong, has built hundreds of thousands of public charging points - the EV equivalent of gas pumps - over the past few years

Germany hails 1st delivery of 'green' hydrogen from UAE, to replace coal

Germany took formal delivery Friday of its first, modest, batch of hydrogen from the United Arab Emirates, a "green" fuel it hopes will help replace coal and gas used by energy-intensive industries in future. Germany is scrambling to substitutenatural gas imports from Russia while also staying on track for its ambitious goal of cutting greenhouse gas emissions to net zero by 2025. One alternative is energy-rich hydrogen gas, provided it is made with the help of renewable energy. Since hydrogen is difficult to transport it is sometimes stored as liquid ammonia. The delivery in Hamburg was modest: just a single container with 13 metric tons of ammonia. Still, it was symbolic enough for German Economy Minister Robert Habeck to hold a joint ceremony with the UAE's climate envoy, Sultan Ahmed Al Jaber, and the CEO of German metals manufacturer Aurubis, which is testing the fuel to make copper wire.

European Union leaders avoid deep rift on gas price cap at energy summit

European Union leaders struggled to find immediate practical solutions on how to deal with the energy crisis but avoided an open rift between Germany and France on Friday that would have exposed a divided bloc as it confronts Russian President Vladimir Putin over his war in Ukraine. After daylong talks in Brussels dragged well into the night, the 27 EU leaders papered over divisions between some of the biggest member states and at least agreed to continue working on ways to impose a gas price cap in case of big price increases. French President Emmanuel Macron highlighted his work with German Chancellor Olaf Scholz to create a veneer of unity after talks that started early Thursday. He said that together with close technical advisers, I will see Chancellor Scholz in Paris next week so that we can move forward, with our teams, on all the issues. Scholz said the main issue was curbing spikes in gas trading that may last only a few hours but still send prices excessively upward. He sai

German health minister urges stepped-up Covid measures amid surge in cases

Germany's health minister on Friday urged the country's 16 states to consider stepping up their measures against the coronavirus amid a rise in new cases. Karl Lauterbach said he favours requiring mask-wearing indoors, a measure that has largely faded in Germany except on public transport, in medical facilities and care homes. The direction we're going in isn't a good one," Lauterbach told reporters in Berlin. He added that it would be better for states to impose limited restrictions now than stricter ones later. The sooner we step on the brake the better it will be. German authorities registered over 114,000 newly confirmed cases in the past 24 hours, and 165 COVID-related deaths. A rise in cases in Bavaria has been linked to the recent Oktoberfest, which draws hundreds of thousands of visitors every year. Lauterbach said more could have been done to limit the spread of the virus at the beer festival in Munich, such as offering or mandating on-site testing for visitors. The Hea

India to become world's third-largest economy by FY28, says IMF

Projected to grow bigger than Japan at $5.36 trillion

India's inflation at 7.4%; What are inflation numbers in other countries?

Since the start of the Russia-Ukraine war in February, almost all the economies have been facing high inflation mainly driven by high commodity costs, and supply chain constraints

Leak detected in pipeline that brings Russian crude oil to Germany

A leak was detected in an oil pipeline in Poland which is the main route through which Russian crude oil reaches Germany, the Polish operator said Wednesday. The operator, PERN, said it detected a leak in the Druzhba pipeline, which originates in Russia, on Tuesday evening about 70 kilometers (45 miles) form the the central Polish city of Plock. It said the cause of the leak wasn't known. The incident follows leaks late last month in the Nord Stream 1 and 2 gas pipelines running along the Baltic seabed.

Germany cuts fiscal deficit in overall budget as Covid measures expire

Germany cut its fiscal deficit in the overall public budget to 32.9 billion euros in the first half of this year, the Federal Statistical Office (Destatis) said

German expert panel proposes 2-stage energy subsidy to ease high rates

A government-appointed expert panel is proposing a two-stage system for distributing up to 200 billion euros ($195 billion) in subsidies Germany has announced to ease the strain of high energy prices. German news agency dpa reported Monday that the panel will suggest one-off payments to natural gas customers equivalent to a single monthly bill this year, followed by a price subsidy for part of people's consumption next year. Citing unnamed officials, dpa reported that from January businesses would pay 0.07 euros per kilowatt hour for the first 70% of their gas bill, based on the previous year's consumption. Private gas customers would pay 0.12 euros for the first 80%, starting in March. The proposal put together by a panel made up of representatives from industry, trade unions, scientists and lawmakers is due to be publicly announced later Monday. Many European countries have proposed similar subsidies on fossil fuels, prices for which have increased sharply worldwide in the wake

Leaders of Spain, Germany discuss ongoing energy crisis before EU summit

The leaders of Spain and Germany held talks in Spain Wednesday, two days before both participate in an European Union summit to discuss Europe's energy crisis derived from Russia's invasion of Ukraine. Spanish Prime Minister Pedro Snchez hosted German Chancellor Olaf Scholz in the northwestern city of A Corua. The two centre-left leaders were accompanied by 15 ministers from their governments. The EU summit in Prague on Friday will likely include discussions on Germany's plan to subsidise gas prices for its consumers and businesses, a move that has raised questions from France and Italy. Snchez said that he empathises with Germany due to its pressing need to find alternatives to Russian gas and oil, while adding that the EU should find common solutions. Both Snchez and Scholz support reforming the EU's energy market. The consequences of the war in Ukraine impact us all, but clearly it has a greater impact on the countries with a higher dependency on Russian carbon-based fuels so w

Shortage of nursing staff sparks bidding war as countries vie for talent

Now with pandemic-related travel restrictions easing, countries from Germany to the United Arab Emirates and Singapore are stepping up efforts to lure foreign nurses and other medical professionals

Germany's Merkel wins UN refugee agency award over welcome of Syrians

The UN refugee agency said on Tuesday it's giving its highest award to former German Chancellor Angela Merkel for her efforts to welcome more than 1 million refugees mostly from Syria into Germany, despite some criticism both at home and abroad. Matthew Saltmarsh, spokesman for the UN High Commissioner for Refugees, said Merkel had been selected as the latest recipient for the Nansen award, which is handed out annually by the Geneva-based UN agency. Under the then-Federal Chancellor Merkel's leadership, Germany welcomed more than 1.2 million refugees and asylum-seekers in 2015 and 2016, which, as you will remember, was the height of the conflict in Syria, and there was deadly violence in other parts of the world, Saltmarsh told reporters. "Dr. Merkel helped to highlight the plight of refugees globally." Merkel's decision to let in so many migrants boosted the far-right Alternative for Germany party and resulted in protests by a vocal minority. She was also blasted by some ...

European Union approves energy windfall profit levies, says report

Ministers from the 27 EU member states approved levies on energy firms' windfall profits to try contain an energy price surge aggravated by Russia's war against Ukraine.

Germany to set up $196 billion stabilisation fund to fight energy crisis

Germany is putting up a "defensive umbrella" of up to 200 billion euros ($196 billion) to stabilise the country's economy during the energy crisis, Chancellor Olaf Scholz announced

Germany set to enter recession in 2023 with 0.4% decline in GDP: Report

Germany is set to enter a recession in 2023, with a decline in gross domestic product (GDP) of 0.4 per cent, according to a joint forecast published by leading economic institutes in the country

Putin to annex seized Ukrainian land, UN warns of 'dangerous escalation'

If Russia moves ahead with its plans to annex four Ukrainian regions, it would mark a 'dangerous escalation' that would jeopardise the prospects for peace in the region, the UN Secretary-General said