Page 2 - Germany

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.

Workers launch nationwide strike in Germany demanding higher wages

The strikes by unionised workers in the nearly 4-million strong electrical engineering and metal industries hit companies such as Porsche AG, BMW and Mercedes

Volkswagen AG workers brace for fallout from years of dereliction

The manufacturer plans to close at least three German factories, shrink all other remaining sites in the country and slash wages by 10 per cent for around 140,000 workers

Germany's Rhenus Group eyes cargo operations in inland waterways

These barges, estimated to be worth $10 million each, will be brought in from overseas, but the firm eventually would tap into the local supply chain

Volkswagen labour chief sounds alarm on mass layoffs, plant closures

Europe's biggest carmaker has been negotiating for weeks with unions over its plans to revamp its business and lower costs, including considering plant closures in Germany for the first time

India and Germany both regionally rooted but globally committed: Risch

India and Germany are both democratic countries, good partners and are regionally rooted but globally committed, Rear Admiral Helge Risch of the key European nation's Navy said on Saturday. Risch, the commander of the Task Force Group, was talking to reporters on board frigate FGS Baden-Wurttemberg in Vasco in Goa. The German frigate is currently at Mormugao Port in south Goa as a part of its Indo-Pacific deployment which began on May 7. "We are both democratic countries. We share a lot of values, we share a lot of interests. Both countries are regionally rooted but globally committed. This is the trigger for closer cooperation between India and Germany," the rear admiral said. Speaking about the joint naval exercise, he said the aim was to establish friendship and partnership between the two nations and its navies. "We will see future exercises but I cannot speak about any concrete plans at the moment. Maybe this was something our governments discussed (in New Delhi)," he said in

German Chancellor 'closely following' Ariha Shah case: Indian Foreign secy

The case of Ariha Shah who is in Germany under foster has been followed very closely

EAM Jaishankar meets German counterpart Baerbock post 7th IGC meeting

Hubertus Heil, German Federal Minister of Labour and Social Affairs said that the message he has for India is- 'If you want to make it, make it in Germany'

Germany raises visa quota for skilled Indians by 4.5 times to 90K

Scholz pushes early EU FTA; Modi says right time to join India growth story