Germany Financial News

Hubergroup India, a global printing inks and chemicals specialist, is in discussions with various lenders, including ICICI Bank, Axis Bank, HDFC Bank, Tata Capital, Axis Finance, and ICICI Prudential Credit Fund, to borrow ₹1,500 crore in working capital, amortising funds, and bullet loans at costs ranging from 9-14%. Part of the funds will be used to buy out businesses from its German parent. «Hubergroup India, one of the largest in manufacturing globally, is borrowing money to buy out many businesses from the German parent so that the Indian entity will become the flagship entity for the group,» a source said. While talks with ICICI Bank, HDFC Bank, and Axis Bank are ongoing, the finalisation is pending.

By Foo Yun Chee

Germany has approved Citizenship Law Reforms that are aimed at integration and skilled worker attraction. In a decisive move, German lawmakers voted 382-234 on Friday to approve legislation that relaxes the rules on obtaining citizenship and eliminates restrictions on dual citizenship. The proposal, advocated by center-left Chancellor Olaf Scholz's socially liberal coalition, aims to enhance immigrant integration and facilitate the recruitment of skilled workers. Are you immigration ready? Find out Under the new legislation, individuals can qualify for citizenship after residing in Germany for five years, or three years in the case of «special integration accomplishments,» compared to the current requirements of eight or six years. German-born children will automatically acquire citizenship if one parent has been a legal resident for five years, a reduction from the previous eight years. Moreover, the legislation eliminates restrictions on holding dual citizenship, a significant departure from the existing requirement for most individuals from non-European Union countries to renounce their previous nationality upon gaining German citizenship. The government emphasizes that approximately 14% of the population, more than 12 million out of 84.4 million inhabitants, does not possess German citizenship. Of this population, around 5.3 million have lived in Germany for at least a decade. Germany's naturalization rate is reported to be below the European Union average.

Vienna, Jan 19, 2024 -The Swiss watch that got Hollywood star Arnold Schwarzenegger in trouble with German custom officials has been sold for 270,000 euros ($290,000), the actor's charity said Friday. The action hero-turned-environmental campaigner was held at Munich airport Wednesday for failing to declare the bespoke Audemars Piguet timepiece that was being auctioned for his climate charity. Schwarzenegger called his brush with the law a «wild experience» at the charity dinner Thursday where the watch was auctioned, cracking raunchy jokes about a female official who he said «was going to put me in handcuffs», according to a video posted on entertainment website TMZ. «Usually I pay $500 for that,» said the 76-year-old actor, a former governor of California. Schwarzenegger was held for three hours, according to the German media, before being allowed to take the watch to the dinner. The fundraiser for his Schwarzenegger Climate Initiative was held across the border in his native Austria in the Alpine resort of Kitzbuehel, with US climate envoy John Kerry said to be among the guests. «The world's most famous watch was auctioned off for 270,000 euros,» the charity said Friday. «Arnold Schwarzenegger's customs adventure had a happy ending,» it added. Duty should have been paid on the watch because Schwarzenegger was intending to sell it in the European Union, German customs spokesman Thomas Meister said.

Indian women's hockey team failed to qualify for the Paris Olympics after going down 0-1 to Japan in the third-fourth place match of the FIH Olympic Qualifier here on Friday. Kana Urata scored for Japan off a penalty corner in the first quarter and they kept the lead intact till the end of the match while Indians failed to find the target.

Bielefeld Germany, January 19: Today, NTT DATA Business Solutions announces that it has been recognized as a global Top Employer for 2024 by Top Employers Institute. This confirms the internationally operating SAP© consulting company as one of only 17 global Top Employers that place their employees at the center of their business activities and offer an outstanding working and development environment around the world. “I am delighted that we have been honored as a global Top Employer.

Investing.com — European stock markets rose Friday, continuing the tech-inspired global rally as investors shake off the negative sentiment from earlier in the week. 

recently certified class action lawsuit is seeking at least $1.2 billion from multinational company Bayer on behalf of Canadians who claim to have been harmed while using Roundup weedkiller products.The allegations have not yet been tested in court and Bayer says it stands behind the safety of the products.Roundup, the brand name of a glyphosate-based herbicide that is the subject of the lawsuit, is the most commonly used herbicide in the world and has been sold across Canada since 1976 by U.S. company Monsanto. The German pharmaceutical giant Bayer acquired Monsanto in 2018.About 165,000 claims have been filed in the U.S.

By Holger Hansen

Arnold Schwarzenegger was stopped for hours by customs at Munich Airport after entering Germany with a luxury watch that was potentially to be auctioned at a charity event

Retired U.S. Army Blackhawk helicopter pilot Lt. Col. Darin Gaub says the only hope to mitigate conflict in the Middle East is for Israel to uphold its defense.

By Nell Mackenzie

Deutsche Bank CEO Christian Sewing on Thursday said that merger and acquisition activity is not a priority for his group, as speculation resurfaces over the future of domestic rival Commerzbank.

(Reuters) -Birkenstock beat analysts' expectations for fourth-quarter sales and forecast annual revenue above estimates on Thursday, in the German luxury sandal maker's first results since going public, betting on higher pricing and strong demand.

Investing.com — European stock markets traded marginally higher Thursday, steadying after the previous session’s sharp losses, but any gains are likely to be limited on increased doubts of early interest rate cuts. 

CES in Las Vegas gives us a glimpse of where automakers believe vehicles are headed in the future

Ukraine has won praise for stabilizing its economy under dire circumstances

European Central Bank head Christine Lagarde says cutting interest rates too soon could threaten Europe’s progress in battling the inflation that has ravaged the economy

The Interior Department is updating and expanding an Obama-era plan to promote solar power on public lands in the West

Heavy snow and freezing rain have hit parts of northern and central Europe, bringing transport to a halt in some Scandinavian regions and causing major disruption at airports in Frankfurt and Oslo

LONDON (Reuters) — Britain's antitrust regulator on Wednesday won an appeal over its powers to demand information from companies based outside the United Kingdom, in a case arising out of a probe into BMW (ETR:BMWG) and Volkswagen (ETR:VOWG_p).