With his now-loved line “You’ll never walk alone” from the musical Carousel and the Liverpool anthem, Chancellor Olaf Soltz attempted today, during his customary summer press conference, to reassure citizens in view of the challenges of the coming winter, promising that the weakest will be adequately supported. He even expressed the belief that there will […]
Tag: Germany
Germany is intensifying its search for LNG suppliers around the world
Germany’s RWE is in talks with a large number of liquefied natural gas (LNG) suppliers, not just in Qatar and North America, its chief executive Markus Kreber said, as Germany’s biggest energy producer steps up efforts to replace supplies of Russian natural gas. As Reutes reports, earlier this year RWE said it was in talks […]
Germany: Tax reductions of more than 10 billion euros are proposed by the Ministry of Finance
Up to 48 million people will be the recipients of the economic relief presented today as a proposal by the Ministry of Finance aimed at compensating for high inflation. Central to Finance Minister Christian Lindner’s announcements today are tax cuts and increases in basic welfare and child benefit. The reactions, however, are already intense and […]
German electricity at a record level – At 420 euros per megawatt hour
German electricity prices have risen to record levels, with the ongoing heat wave and drought severely limiting one of Europe’s main waterways for transporting energy supplies, Bloomberg reports. The summer heatwave is putting pressure on Europe’s energy system, while Russia is cutting gas exports to the continent. This is set to hit the finances of […]
Germany: Economic prospects are fragile – Christian Lindner
The German Finance Minister, Christian Lindner said on Wednesday that the economic outlook for the eurozone powerhouse is fragile.. Previously, Lindner had said that high inflation in Germany was eroding economic fundamentals. Germany is bearing the brunt of the war between Russia and Ukraine, while the European gas crisis worsens. The economy is on the […]
Nuri became the first German fintech company to file for bankruptcy
Nuri today became the first German fintech company to file for bankruptcy, mainly due to the downturn in the cryptocurrency market. Nuri tried to save itself with a last round of funding, but failed to secure new investors or sell itself, and just hours ago declared bankruptcy. In the wake of the coronavirus pandemic and […]
German coal importers expect a flurry of shipments from September
Germany’s coal importers expect more shipments from next month as generators seek to shift to more coal burning and away from Russian gas, but fear logistical problems could hamper deliveries. “The Verein der Kohlenimporteure (VDKi) expects significant volume increases in monthly import figures from September onwards,” Alexander Bete, president of the German Coal Importers Group, […]
New German ambassador to Israel, Steffen Seibert
Steffen Seibert, a former spokesman for Angela Merkel when the latter was German chancellor, has officially assumed the duties of Germany’s ambassador to Israel. Seibert, 62, presented his credentials to Israeli President Isaac Herzog today. “The friendship between Israel and Germany is a treasure and I am honored to work to strengthen it,” Seibert tweeted […]
German Economy to Lose Over €260 Billion of Added Value Due to Ukraine War and High Energy Prices – IAB Study
According to a study by the Employment Research Institute (IAB), the German economy will lose more than €260 billion in value added by 2030 due to the war between Russia and Ukraine and high energy pricesas reported by Reuters on Tuesday. Additional data “Compared to the expectations of a Europe at peace, Germany’s gross domestic […]
Germany: Under conditions, problems in natural gas supply can be avoided
Germany could, under conditions, avoid gas supply problems ahead of winter, the Federal Network Agency estimates. According to the latest scenarios considered by the Agency, if the Nord Stream 1 pipeline continues until June 2023 to be used at 20% of its capacity, as currently, if there are savings from consumers of about 20% and […]
