Germany has planned 'never before' military deployment to India, says German embassy spokesperson
The deployment is meant to underline that Germany's engagement in Indo-Pacific is 'serious & long lasting'. German Air Force will send jets to India, along with France, Spain and the UK. Key Points
ThePrintGermany is about to make life much easier for foreign workers in 2024
Reforms have been announced with an aim to make Germany more appealing for skilled labor. A points-based system, based on language proficiency and professional experience, will grant eligible immigrants a one-year visa to search for jobs. Key Points
Economic TimesGermany buys stake in EnBW's high voltage grid for $1.1 bln
Germany has acquired a minority stake in local utility EnBW's (EBKG.DE) high-voltage business, the company said on Friday, firming up its grip on critical energy infrastructure in a bid to speed up the country's energy transition. Key Points
ReutersGerman grid operator 50Hertz awards 4.6 bln eur power line contract for renewables switch
German power grid operator 50Hertz said on Friday it had signed a 4.6 billion euro ($4.88 billion) contract with Denmark's NKT and Italy's Prysmian Group as it expands high-capacity submarine and land cables for Germany's renewables switch. Key Points
ReutersIntel’s Big Chip-Making Push in Germany Hits Bottleneck
A worker shortage and high energy prices in the country pose challenges for the U.S. company’s planned semiconductor factory. Key Points
mint
Germany is trying to woo skilled workers from India, starting with nurses
The German government has eased visa regulations and streamlined the recognition process for foreign qualifications. This move is aimed at simplifying the entry and integration of skilled professionals, making it more appealing for Indian nurses to consider working in Germany. Key Points
Economic TimesGermany vs Ukraine: Kick-off date, time, how to watch on TV, live stream
Germany and Ukraine on Monday will clash in a friendly match at Bremen's Weserstadion. Germany has a flawless record against Ukraine in their previous eight encounters, with five victories and three draws. Key Points
Economic TimesGermany is running out of workers, putting growth in jeopardy
The working-age population in Germany actually peaked at the end of the last century, but the country has managed to stave off demographic decline for some time thanks to the arrival of millions of immigrants and the rising number of women going to work. But both trends are now fading just as the post World War II baby-boomers are retiring. Just to stay flat, the country needs 400,000 newcomers a year. Key Points
Economic TimesEconomic recession in Germany may impact certain export sectors from India: CII EXIM committee chairman
Germany, the world's fourth-largest economy, is facing recession as its GDP fell 0.3 per cent in the first quarter of 2023, following a decline of 0.5 per cent in the fourth quarter of the last year. Key Points
Economic TimesEconomic recession in Germany may impact certain export sectors from India: CII EXIM
Germany, the world's fourth-largest economy, is facing recession as its GDP fell 0.3 per cent in the first quarter of 2023, following a decline of 0.5 per cent in the fourth quarter of the last year. Key Points
Financialexpress
Germany enters recession: Europe's largest economy is breaking down
Decades of flawed energy policy, the demise of combustion-engine cars and a sluggish transition to new technologies are converging to pose the most fundamental threat to the nations prosperity since reunification. But unlike in 1990, the political class lacks the leadership to tackle structural issues gnawing at the heart of the countrys competitiveness. Key Points
Economic TimesIndia's exports to Germany may get adversely impacted due to recession: Exporters
The German economy contracting for two consecutive quarters could affect India's export to Germany and Europe as a whole. The most affected sectors would be leather products, chemical and light engineering items, and exports like apparel, footwear, and leather goods. Yogesh Gupta, the FIEO Eastern Region's Regional Chairman, stated that it is too early to comment on the impact of the recession on Indian exports, but Germany being the main growth driver for the EU, the recession there will impact the purchasing there. Key Points
Economic TimesGermany is experiencing a mass worker shortage. Can migration fix it?
Germany is struggling to balance integration and combating irregular migration as it faces both a shortage of skilled young workers and an enormous influx of migrants, including about 1.25 million new arrivals in 2022. The economy is facing up to a 7 million-worker shortfall by 2035 due largely to an ageing population. Key Points
Economic TimesGermany unveils immigration plan to tackle labour shortages, fill 60,000 jobs a year
With this, we are laying the foundation for a new start in migration policy, Finance Minister Christian Lindner tweeted after the cabinet approved the reforms. Anyone who can contribute to the country's economic success as a skilled worker is welcome. Key Points
Economic TimesIn comeback, Commerzbank to join Germany's DAX blue-chip index
Germany's Commerzbank will rejoin the DAX index on Feb. 27, Deutsche Boerse announced late on Friday, marking a comeback for Germany's No. 2 lender after it was removed from the club of blue-chip companies in 2018. Key Points
Reuters
India's hockey team lose 3-4 against Germany in shoot-out, to face Japan for Paris berth
In the 35th minute, India got a great chance to take the lead from a counter-attack but Deepika's push from close range was easily padded away by German goalkeeper Julia Sonntag. Seconds later, Germany bagged their second penalty corner but the Indian backline was rock solid, which weathered several German raids. Key Points
Economic TimesGerman law on forced labour in global biz supply chains to have little impact on India's trade: 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. Key Points
Economic TimesGermany wants more chipmakers, but they won't come cheap
Plans are in the works to revamp German immigration laws to attract more talent, but that might not be soon enough. Firms that already exist have real trouble finding skilled labor, Gropp said. Do we want to make that even worse and put those firms that didn't benefit from the subsidies out of business? Key Points
Economic TimesAnalysis: As baby boomers retire, German businesses turn to robots
At machine parts producer S&D Blech, the head of the grinding unit is retiring. With Germany's acute labour shortage leaving few candidates to take on the skilled but dirty and hazardous manual work, the company will replace him with a robot. Key Points
ReutersWhy the era of low-cost flights in Europe may be over
Environmental concerns are one of several factors driving up airfares. DW explores what's behind the price hikes. | Travel Key Points
Hindustan Times/cloudfront-us-east-2.images.arcpublishing.com/reuters/EUSJMMGYCZJFBFMNFPXKEXVAII.jpg)
Lilly to build $2.5 bln diabetes drug plant in Germany
Eli Lilly (LLY.N) will build its first plant in Germany for 2.3 billion euros ($2.5 billion) in the western town of Alzey, the U.S. pharmaceuticals maker said on Friday, as the sector scrambles to meet demand for new diabetes and obesity therapies. Key Points
ReutersAngela Merkel decorated with highest German honor
President Frank-Walter Steinmeier bestowed the Grand Cross of the Order of Merit for special achievement on the four-term chancellor, who became only the third ex-leader to receive that level of distinction. The other two were Konrad Adenauer, West Germany's first leader, and Helmut Kohl, who led Germany to reunification. Key Points
Economic TimesGermany overtakes Japan as third-biggest economy
Japan, once poised to become the world's largest economy, fell to fourth place behind Germany last year, according to official data released Thursday. Despite Japan's nominal GDP growing by 1.9% in 2023 to $4.2 trillion, a sharp decline in the yen's value against the dollar played a significant role in this shift. Key Points
Economic TimesGermany enters recession after GDP falls for second successive quarter
Germany's GDP fell by 0.3% in the first quarter of 2022, marking the country's second successive quarter of contraction and slide into recession. This was due to the energy crisis unleashed by Russia's invasion of Ukraine, which led to dwindling energy supplies and stoked inflation. Household consumption also dropped, but there were positive contributions from trade and rising investments. The recession was not as severe as predicted, but mild winter weather and supply chain problems created by Covid-19 were insufficient to save the economy from the danger zone of recession. Key Points
Economic TimesGerman Chancellor’s first India visit: Delhi, Berlin to focus on economic ties, green technology, Indo-Pacific strategy
Scholz will have official engagements in Delhi and will leave for Bengaluru on Sunday. He will leave for Berlin on Sunday evening. Key Points
The Indian Express
First round of changes to Germany's skilled immigration rules takes effect
As of November 18, 2023, Germany enacted the first phase of its new skilled worker law, bringing about modifications to the rules governing the EU Blue Cards. These changes aim to enhance opportunities for skilled workers entering Germany. Key Points
Economic TimesSpecial funds: how Germany gets round the debt brake
Germany sees itself as the European defender of solid finances with its debt brake restricting the public deficit to 0.35% of GDP but the euro zone's largest economy relies on off-budget funds to comply with the debt ceiling for financing its fiscal needs. Key Points
ReutersCommerzbank forecasts bigger profit returns for investors
Germany's Commerzbank (CBKG.DE) said on Thursday it was revamping its payout policy for investors, aiming for a return of least 70% of profit for 2024. Key Points
ReutersAlmost $1.9 billion left in COVID vaccine scheme for future health efforts -Germany
Almost $1.9 billion left in the global scheme to share COVID-19 vaccines more equitably will be used to help prepare for future pandemics and other health threats, said the German development ministry on Tuesday. Key Points
Reuters'India's solid growth makes it a highly attractive market,' says German Ambassador Philipp Ackermann
The German Ambassador to India, Philipp Ackermann, has praised India's economic growth and its appeal as a market for German companies. He also highlighted the increasing number of Indian students choosing to study in Germany. Key Points
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Calling all foreign workers! The German chip sector’s run into a labour problem
Germany is trying to get ahead of its skilled worker shortage. Last October, the government announced a strategy focusing on education, upskilling, increasing labor participation, improving work culture and reducing emigration. Europes largest economy is also reforming its immigration laws to make it easier for skilled workers from abroad to come to Germany. Key Points
Economic TimesNATO to buy 1,000 Patriot missiles in face of Russia threat
NATO members are buying 1,000 Patriot missiles to bolster air defences in the face of the threat from Russia. Alliance chief Jens Stoltenberg welcomed the timely announcement to invest in up to 1,000 new Patriot air defence missiles to bolster the alliance's security . NATO allies including the United States and Germany have sent US-made Patriot systems to Ukraine where they have been used to shoot down attacks by Russia's hypersonic missiles. Key Points
Economic TimesCommerzbank Q3 net profit more than triples, beats expectations
Germany's Commerzbank (CBKG.DE) said on Wednesday that net profit more than tripled in the third quarter, better than expected and helped by higher interest rates, as it presented a strategy update. Key Points
Reuters