Sunday , February 19 2017
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German organic food market keep growing

German organic food market keep growing

BERLIN: Organic food is growing more in Germany than in most countries, sales total only 5 percent of the nation’s groceries market. About 95 percent of the food sold in Germany in a single day – as measured by retail sales value – isn’t organic. That’s despite the fact that total organic food sales in Germany have been growing steadily ... Read More »

Germany, Indonesia discuss multilateral cooperation, bilateral partnerships


JAKARTA: Indonesian Foreign Minister Retno Marsudi held bilateral discussions with her German counterpart Sigmar Gabriel on the sidelines of the G20 foreign ministers meeting in Bonn on Friday (17/02). “The focus of the G20 meeting is on maintaining peace in a complex world, as it will contribute to creating stable conditions that will create room for development,” Retno said. The ... Read More »

Eurozone’s trade surplus widened in 2016


BERLIN: The eurozone’s surplus in its trade in goods with the rest of the world rose in 2016, as its exports were unchanged and its imports declined. The European Union’s statistics agency said Wednesday that eurozone exports exceeded imports by 273.9 billion euros($290.3 billion) last year, a widening of that gap from EUR238.7 billion in 2015. Exports were broadly unchanged ... Read More »

German firms to face major disruption after Brexit: Industry group


BERLIN: The Big Ben bell tower on the Houses of Parliament is visible through a shaped foil balloon as demonstrators protest during a German companies with business in Britain will face major disruption starting in 2019, the year in which the country is expected to officially leave the European Union, Germany’s BDI industry group said on Tuesday. Uncertainty about the ... Read More »

Germany’s economy speeds up in fourth quarter


BERLIN: Germany’s economy picked up speed in the final quarter of 2016, a trend that is likely to be maintained in the first few months of 2017, putting Europe’s largest economy on a solid footing at the start of a key election year. Germany’s economy grew at a quarterly clip of 0.4%, or 1.7% in annualized terms, the Destatis statistics ... Read More »

France calls on Germany to hike investment spending


BERLIN: France’s Economy Minister Michel Sapin has dismissed a US attack on Germany’s trade surplus but urged Europe’s biggest economy to boost its spending on investment. In an interview trailed by the financial daily Handelsblatt for its Monday edition (13 February), Sapin brushed aside US criticism that Germany exploited an “undervalued” euro to fuel its exports. The attack “very obviously ... Read More »

Germany extradites suspected migrant smuggler to Italy


BERLIN: Germany on Wednesday extradited to Italy an Eritrean man who is wanted on suspicion of being part of a migrant smuggling syndicate operating in Africa and Europe. The suspect landed at Rome‘s Fiumicino Airport after departing from Frankfurt. He was wanted in an investigation that led to the arrests in April 2015 of 24 Eritrean, Ethiopian, Ghanaian, Guinean, and ... Read More »

German industrial production down sharply in Dec


BERLIN: German industrial production unexpectedly dropped 3 percent in December compared with the previous month, apparently pushed lower by seasonal factors. The figure released Tuesday by the Economy Ministry compared with economists’ forecast of a 0.3 percent increase. It followed gains of 0.5 percent in each of the previous two months. However, the outlook appears brighter given that data released ... Read More »

Germany’s Merkel would welcome South American trade deal with EU


BERLIN: German Chancellor Angela Merkel said she would welcome a free trade agreement between South America and the European Union, further signaling her rejection of the protectionist stance being taken by U.S. President Donald Trump. A deal could include agriculture and energy, Merkel said Saturday in her weekly vodcast. She singled out Uruguay as one member of the Mercosur trade ... Read More »

German customs seize 1,580 pounds of cocaine from Caribbean


BERLIN: Customs officials in the German port of Hamburg say they have seized 717 kilograms (1,580 pounds) of cocaine, which they estimate would have produced drugs with a street value of 145 million euros ($156 million). The head of the Hamburg customs investigation office, Rene Matschke, said Friday that the cocaine the largest single seizure of the drug in Germany ... Read More »

Deutsche Bank lags rivals with quarterly loss


BERLIN: Deutsche Bank (DBKGn.DE) fell further behind its Wall Street rivals in 2016, lagging their strong rebound in bond trading in the last three months of the year and increasing pressure on CEO John Cryan ahead of an expected strategy update this spring. Germany’s flagship lender posted on Thursday a net loss of 1.9 billion euros ($2.1 billion) in the ... Read More »

Vodafone upbeat despite fall in revenue


BERLIN: International mobile communications giant Vodafone posted a trading update for the quarter to 31 December on Thursday, reporting 1.7% growth in group organic service revenue, with Europe accounting for 0.7% of that growth and Africa, Middle East and Asia-Pacific (AMAP) 3.9%. The FTSE 100 firm said its European growth continued as average revenue per user (ARPU) stabilised, with Italy ... Read More »

Germany’s exporters fear Trump effect on trade


BERLIN: Deep in the Bavarian countryside the modern factory buildings of Delo, a company of little more than 500 people, supply the glue and technology that binds around half of all the world’s mobile phones. Like many other small and medium-sized companies in Germany’s heartlands known as the Mittelstand Delo provides parts and technical expertise that help make products consumed ... Read More »

Germany expects IMF to participate in Greece’s bailout program


BERLIN: The German finance ministry believes that the International Monetary Fund will take part in Greece’s third bailout program, despite the fact that IMF reports find that the Greek debt is unsustainable. On Monday, a spokesman for the German finance ministry told Reuters that Berlin believes the Fund will participate in the program and it is too early to speak ... Read More »

China becomes Germany’s top trading partner


BERLIN: China has surpassed the United States to become Germany’s top trading partner in 2016. The US dropped down from the top position in 2015 to become Germany’s third largest trading partner last year, Deutsche Welle reported, citing data from the Association of German Chambers of Commerce and Industry (DIHK). France continued to hold the position as Germany’s second largest ... Read More »

Three jailed in Germany for huge beer smuggling


BERLIN: For over a year, three men snuck beer into Britain while pretending to sell it in northern Bavaria. The problem? Nowhere on earth has as many breweries as northern Bavaria. A court in Hof, Bavaria on Wednesday condemned the men to jail sentences ranging between two years, and three years and three months, broadcaster Bayerische Rundfunk reports. The smugglers’ ... Read More »

Customs seize 18kg marijuana at Tabanovce border crossing


BERLIN: Customs officers prevented Wednesday the smuggling of 18kg of marijuana at Tabanovce border crossing with Serbia. An Albania-­registered vehicle driven by an Albanian national was checked while exiting the country. The customs officers found 15 packages of marijuana in the trunk of the vehicle, hidden in a gas cylinder. The suspect purchased the narcotics in Albania, with Germany being ... Read More »

Sky Germany revenue up 10%, profits down in H1


BERLIN: Sky has increased its revenue by 10 percent over the six months to December 2016 in Germany and Austria, though its operating profits slipped compared to the year prior. In the first half of financial year 2016/2017, Sky reported revenues of GBP 907 million in Germany and Austria, up from GBP 827 million in H1 2015/2016. In the same ... Read More »

Greek, German police operation to smash drug smuggling ring


BERLIN: A major operation is currently underway by Greek and German police, the coast guard and Thessaloniki drug enforcement unit since Monday night in various regions of Greece and Germany to smash an international gang, trafficking large quantities of cannabis. According to Greek police, the criminal organization imported cannabis from Albania in trucks and then packaged a large quantity which ... Read More »

German govt holds 2017 growth forecast at 1.4%


BERLIN: The government has proposed tax reforms to Congress that will raise as much as US$206.8 billion in additional revenue annually. The reforms include lowering income tax rates that will be offset by other measures including an increase in automobile and fuel excise taxes that some lawmakers and advocacy groups oppose. Administrative reforms are also being undertaken to improve tax ... Read More »