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Articles

Germany's recovery dims amid industrial order decline

Jan 8, 2025 | thestar.com.my | Che Yunlong

BERLIN, Jan. 8 (Xinhua) -- Germany's industrial sector experienced a sharp decline in incoming orders in November 2024, falling by 5.4 percent compared to the previous month, official data revealed on Wednesday. This follows a 1.5-percent decline in October, intensifying concerns over the recovery of Europe's largest economy.
German inflation expected at 2.2 pct in 2024

Jan 6, 2025 | thestar.com.my | Che Yunlong

BERLIN, Jan. 6 (Xinhua) -- Germany's inflation rate climbed to 2.6 percent in December 2024, with official data released on Monday indicating an annual average of 2.2 percent for the year. The figure for December marks the third consecutive monthly increase, following a low of 1.6 percent in September. The rebound was driven by a narrowing decline in energy prices, while service prices continued to rise sharply since early 2024.
Volkswagen workers across Germany strike over cost-cutting plans

Dec 2, 2024 | thestar.com.my | Che Yunlong

BERLIN, Dec. 2 (Xinhua) -- Tens of thousands of Volkswagen workers across Germany staged a nationwide strike on Monday, protesting the automaker's controversial cost-cutting plans, which include mass layoffs, wage reductions, and potential plant closures. The strike, organized by IG Metall, one of Germany's most influential trade unions, impacted nine out of Volkswagen's ten factories in the country, including its Wolfsburg headquarters.
U.S. carmaker Ford to cut 4,000 jobs in Europe amid EV challenges

Nov 20, 2024 | thestar.com.my | Che Yunlong

BERLIN, Nov. 20 (Xinhua) -- U.S. automaker Ford announced on Wednesday that it plans to cut 4,000 jobs in Europe by the end of 2027, in a bid to create a more cost-competitive structure and ensure the long-term sustainability and growth of its business in Europe.
German business sentiment improves after 4-month decline

Oct 25, 2024 | thestar.com.my | Che Yunlong

BERLIN, Oct. 25 (Xinhua) -- Business sentiment in Germany showed signs of recovery in October after four consecutive months of decline, according to a survey released Friday. This uptick brings a glimmer of hope to the country's struggling economy, which has faced persistent challenges, particularly in the manufacturing sector. The Munich-based ifo institute of economic research reported that its business climate index rose to 86.5 points in October, up from 85.4 in the previous month.
German economics minister urges political solution to EV tariffs with China

Sep 18, 2024 | thestar.com.my | Che Yunlong

BERLIN, Sept. 18 (Xinhua) -- Germany's Economics Minister Robert Habeck has called for the European Union (EU) and China to reach a political solution to the issue of tariffs on electric vehicles (EVs). "We want to avoid a trade conflict that could escalate into a tariff spiral, ultimately harming both sides," Habeck said in a statement on Tuesday, reaffirming that his stance is clear -- a political solution is essential.
Germany to invest 12 bln euros for startup innovation

Sep 17, 2024 | thestar.com.my | Che Yunlong

BERLIN, Sept. 17 (Xinhua) -- The German government and its partners have pledged to invest around 12 billion euros (13.3 billion U.S. dollars) in venture capital by 2030 to support young startups for their innovations, according to a joint declaration made at a startup summit here on Tuesday.
Volkswagen considering plant closures in Germany to cut costs

Sep 2, 2024 | today.line.me | Che Yunlong

Alongside potential closures, the carmaker has also hinted at possible layoffs. BERLIN, Sept. 2 (Xinhua) -- German automotive giant Volkswagen is considering closing its production plants in Germany to cope with rising costs, said the company on Monday. Vehicle plant and component factory closures can no longer be ruled out in the current situation, barring rapid countermeasures, German Press Agency quoted the carmaker as saying.
Roundup: Germany's inflation sinks amid continued consumer caution

Aug 30, 2024 | thestar.com.my | Che Yunlong

BERLIN, Aug. 30 (Xinhua) -- Inflation in Germany took a bigger dip than expected in August, with the European Union (EU)'s statistical office reporting a rate of 2 percent on Friday. The overall inflation in the eurozone was 0.2 percentage points higher. The data aligns with preliminary figures released by Destatis, Germany's statistics office, on Thursday.
Companies in Germany less satisfied in August, ifo index shows

Aug 26, 2024 | thestar.com.my | Che Yunlong

BERLIN, Aug. 26 (Xinhua) -- Business confidence among companies in Germany continued to decline in August, with the ifo business climate index falling to its lowest level in six months. According to data released by the Munich-based economic institute on Monday, the index, which measures companies' satisfaction with their current business conditions and future expectations, dropped to 86.6 points in August, down from 87 points in the previous month.