Page 34 - Germany

Germany urges citizens to avoid Christmas lights in view of energy crisis

Germany should forgo its tradition of Christmas lighting in cities and private households this year due to the energy crisis, an environment advocacy group said

Germany loses 1 of 5 glaciers; scalding summer melts Southern Schneeferner

Scientists in Germany have stripped the Southern Schneeferner in the Alps of its status as glacier after extreme heat this summer hastened its demise. The announcement Monday by the Bavarian Academy of Sciences means Germany now has only four glaciers left. The Southern Schneeferner is an ice sheet that lies on a high plateau south of the country's highest peak, the Zugspitze. Researchers said that measurements in mid-September showed it has shrunk by half in the last four years. It is now little more than 2 metres thick in most areas, meaning it won't glide downhill anymore and therefore can't be considered a glacier, they said. "The remaining ice will melt away completely in the coming one to two years," the scientists said. Experts say many of Europe's glaciers are likely doomed to vanish in the coming decades due to human-caused climate change.

Energy crisis: Recession clouds gather in Germany, Europe's largest economy

Europe's largest economy is sending recession signals. Germany's key future indicator, the IFO survey of business confidence, pointed down for the fourth month in a row as high inflation fed by astronomical natural gas prices undermines consumer pricing power and imposes heavy costs on businesses. The index compiled by the Munich-based IFO institute dropped to 84.3 in September from 88.5 in August, to its lowest level since the global financial crisis more than a decade ago. High energy and commodity prices are weighing on demand and putting pressure on profit margins, said Carsten Brzeski, chief eurozone economist at ING bank. Companies can no longer pass through higher costs to consumers as easily as in the first months of the year. Company order books are shrinking, while businesses that use a lot of energy, such as bakeries, are facing costs that make them question whether they can stay in business. The news comes as more economists predict a recession for Europe as a ...

Europe's energy crisis: The looming winter of discontent that awaits India

Europe's bid to reduce its dependence on Russian gas ahead of the cold season will put pressure on prices and impact India's growing gas economy

Biden supports Germany, Japan, India as permanent members of UNSC: Official

US President Joe Biden supports Germany, Japan and India as permanent members of a reformed United Nations Security Council, a senior official of his administration has said. At the same time, a lot of work needs to be done in this matter, the official told reports on Wednesday on condition of anonymity. "We have historically and continue to stand behind the idea that Germany, Japan and India should be permanent members of the Security Council," the official said in response to a question. Earlier on Wednesday, President Joe Biden in his address at the UN General Assembly reiterated his commitment to reforming the UN Security Council. Biden said he believes the time has come for the institution to become more inclusive so that it can better respond to the needs of today's world. Members of the UN Security Council, including the United States, should consistently uphold and defend the United Nations Charter and refrain from the use of veto, except in rare and extraordinary situatio

Germany nationalises country's largest gas importer for energy security

The German government agreed to nationalise the country's largest gas importer Uniper in an effort to ensure energy security against the backdrop of Russia's gas supply freeze and rocketing gas prices

Germany takes over Uniper for $8 billion amid Europe's energy crisis

Germany also took control of a Russian-owned oil refinery, which supplies 90% of capital's fuel, putting a Rosneft unit under the trusteeship of industry regulator and taking over Schwedt plant

Consumer electricity prices in Germany expected to rise by 60% in 2023

Consumer electricity prices in Germany are to rise by around 60 per cent in 2023, the country's Association of Local Public Utilities (VKU) said.

German Chancellor Olaf Scholz betting billions of euros on securing energy

Scholz's strategy adds pressure on the country's finances at a time when Germany already risks tipping into recession

Germany takes control of Russian-owned refinery amid energy crisis

We are making ourselves independent of Russia, and any decisions that are taken there, said Scholz

German government takes over subsidiary of Russian oil giant Rosneft

The German government says it is taking control of Russian oil giant Rosneft's subsidiary in Germany, citing the need to ensure continued operations at three oil refineries in the country. The Economy Ministry said in a statement on Friday that Rosneft Deutschland GmbH and RN Refining and Marketing GmbH will be put under the control of Germany's Federal Network Agency. The agency will also control the companies' shares in three refineries: PCK Schwedt, MiRo and Bayernoil. Rosneft accounts for about 12 per cent of Germany's oil refining capacity, it said. The ministry said the move would help ensure continued energy supplies and is initially due to last for six months.

German government sells its last shares in Lufthansa, say authorities

The German government has sold its last shares in the country's biggest airline, Lufthansa, which it stepped in to rescue at the height of the coronavirus crisis. The government's Finance Agency said late Tuesday that the remaining stake of some 9.9 per cent has now been sold to international investors. The agency's head, Jutta Doenges, said the total proceeds from selling the government's holdings came to 1.07 billion euros (dollars) a significant gain over the 306 million euros for which the shares were acquired. Doenges said that the stabilization of Deutsche Lufthansa AG has been concluded successfully and the company is once again in private hands. Lufthansa, which also owns carriers including Austrian Airlines and Swiss, received a 9 billion-euro government rescue package in mid-2020. The German government took a 20 per cent stake in the company. In November, Lufthansa said it had paid back all the aid and canceled funds that it hadn't tapped. It said it drew down about 3.8

Inflation in Germany soars to record level of 7.9% in August: Authorities

Government measures such as a cheap 9-euro ticket for public transport and a fuel discount had a "slight downward effect on overall inflation"

Mann to visit Germany from Sep 11-18 to push Punjab's industrial growth

Punjab Chief Minister Bhagwant Mann will visit Germany from September 11-18 to attract investments and strategic tie-ups. This will be Mann's first foreign visit after he took oath as the chief minister in March. "In order to give a major push to the industrial growth of the state, Punjab Chief Minister Bhagwant Mann will be undertaking a tour of Germany from September 11-18," an official statement said here on Friday evening. During the tour, the chief minister will be meeting business delegations and prominent companies to rope in investments and strategic tie-ups in key sectors like renewable energy, car manufacturing, pharmaceuticals and advanced agriculture practices, among others, it said. Mann will hold a meeting with companies like BMW, BayWa and others during his stay in Munich, Frankfort and Berlin. "This crucial visit of the Chief Minister is likely to immensely benefit the state in getting huge investments, technical know-how and expertise from German companies," said

German court keeps hearing farmer's climate case against Volkswagen

Environmentalists claimed a small legal victory Friday after a court in Germany said it would continue hearing a case brought by a local farmer seeking to force automaker Volkswagen to end the sale of combustion engine vehicles. Ulf Allhoff-Cramer says drier soil and heavier rains due to climate change are harming his fields, cattle and commercial forests. He argues that Volkswagen is partly to blame for this, as the mass production of vehicles running on gasoline contributes significantly to greenhouse gas emissions in the atmosphere. During a first hearing in May, a regional court in the western German town of Detmold appeared to cast doubt on those claims, with judges asking the plaintiff and his lawyers to provide further details to back up their legal arguments. On Friday, the court again asked for further details and set a new hearing for February 3. Environmental group Greenpeace, which supports the case, said it is the first time that a court will consider whether a car ..

Tesla to host town hall event near Brandenburg plant on Sunday: Official

The event, which is being held around six months after the plant's official opening, aims to appeal to families and includes activities for kids as well as opportunities to test drive Tesla cars

As Russia cuts gas supply, Germany increases coal power generation

Almost one third of Germany's electricity came from coal-fired power plants in the first half (H1) 2022, up 17.2 per cent year-on-year

Germany heading for recession, warns Deutsche Bank CEO Christian Sewing

"The longer inflation remains high, the greater the strain and the higher the potential for social conflict," Sewing said.

Germany well-placed on energy to get through winter: Olaf Scholz

Germany is well-placed to get through this winter with enough energy thanks to efforts to shore up supplies, Chancellor Olaf Scholz said Wednesday, dismissing criticism from the opposition. Center-right opposition leader Friedrich Merz charged in parliament that Scholz's three-party coalition lacks any strategic thinking and assailed a decision this week to stick in principle to a long-held plan to shut down Germany's last three nuclear power plants at the end of this year. The government, he said, may be damaging German companies irreparably. An unusually combative Scholz responded that his coalition has worked since it took office in December to prepare for problems that ministers from Merz's party in the previous government failed to anticipate. He pointed to a decision to require filling natural gas storage facilities for the fuel used to heat homes, generate electricity and power industry. Those facilities are now over 86% full, at a time when Russia has cut off gas supplies ..

Putin blames Germany and West for Nord Stream 1 shutdown at economic forum

President Vladimir Putin said on Wednesday that Russia would resume gas supplies to Germany through the Nord Stream 1 pipeline as soon as a key turbine was returned