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  • Germany’s current economic course unsustainable, says finance minister

    Germany’s current economic course unsustainable, says finance minister

    The German government has predicted the country will see just 0.2% growth in 2024 – a development the finance minister has described as “dramatically bad”. Speaking in Leipzig, finance minister Robert Habeck – tipped by many as Germany’s next Chancellor – warned the nation could not continue as it had, indicating drastic action may be…

  • Economic outlook gloomy but Germany still attractive for FDI

    Economic outlook gloomy but Germany still attractive for FDI

    German businesses are “significantly” reducing their investment plans, according to the latest economic survey from the country’s ifo Institute. The Munich-based organisation said the investment climate within Germany had “deteriorated noticeably” as a result of higher financing costs, weak demand and uncertainty around economic policy. Companies that specialise in trade, it said, were the most…

  • Climate change at forefront of investors’ minds – Deutsche Bank

    Climate change at forefront of investors’ minds – Deutsche Bank

    Climate change remains the biggest environmental consideration affecting investment decisions, a new report from Deutsche Bank argues. According to the group’s 2023 ESG Survey, more than two-fifths (44%) of respondents saw it as the most-important factor, followed by 20% naming land degradation, 15% ocean pollution and the unsustainable use of marine resources, and 12% naming…

  • Appert takes up PGIM head of Switzerland role

    Appert takes up PGIM head of Switzerland role

    PGIM Investments has appointed Rochus Appert to the new role of the group’s country head of Switzerland. Appert, who will be based in Zurich, will lead the US asset manager’s wholesale distribution strategy for the Swiss market. “PGIM Investments has been continuing to grow and develop its presence across Europe,” said Matt Shafer, head of…

  • Germany struggling after boom years

    Germany struggling after boom years

    The cost-of-living crisis is biting in Germany, with reports this week of surging food inflation and a collapsing fibreoptic sector. The German financial newspaper Handelsblatt ran the two reports, stating in one that food inflation within the country had reached 97% for some items. App company smhaggle had compared prices for the paper, concluding that…

  • DWS and MEAG team up to buy German bioenergy firm Weltec

    DWS and MEAG team up to buy German bioenergy firm Weltec

    Asset manager DWS has joined with Munich Re’s and ERGO’s asset manager firm MEAG to buy the biogas and biomethane firm Weltec. DWS confirmed it had entered into the joint acquisition as part of its third institutional Pan-European Infrastructure Fund (PEIF III). Financial details, said the group, were confidential. “We are pleased to be working…

  • German economy expected to perform worse than predicted – IWH

    German economy expected to perform worse than predicted – IWH

    The Halle Institute for Economic Research (IWH) has predicted Germany’s GDP will fall by 0.6 percentage points over 2023, a sharp revision to previous predictions. One of the most-prominent economic organisations on the continent, the IWH has called its new forecast a “strong downward revision” of 0.9 percentage points. It cited a slower recovery in…

  • Is Germany now the ‘sick man of Europe’?

    Is Germany now the ‘sick man of Europe’?

    The economies of Europe have proved a drag on worldwide economic growth, according to new work from the OECD. The organisation’s Interim Report September 2023: Confronting Inflation and Low Growth found global GDP advanced at an annualised pace of 3.2% in the first half of the year. While growth was strong in the US and…

  • How solid are the German property market’s foundations?

    How solid are the German property market’s foundations?

    Three major property developers in Germany have gone into insolvency in the space of two months. According to reports from Berlin, Centrum Group, Development Partner and Euroboden have all begun to declare bankruptcy in recent weeks due to financial problems caused by a constraint on the nation’s property markets. A report from Reuters suggested Euroboden…

  • German government ramps up on 2045 net zero goal

    German government ramps up on 2045 net zero goal

    The German government has earmarked more than €57bn for green investment over the course of 2024. According to Reuters, the money will be distributed through the Climate and Transformation Fund and includes €18.9bn in subsidies in renovations and new construction. The entire amount is up more than 60% from its 2023 target, noted the German…

  • Siemens to invest €1bn in Germany, eyes Nuremberg as tech hub

    Siemens to invest €1bn in Germany, eyes Nuremberg as tech hub

    Focused on growing a ‘Technology Campus’

  • Inflation rises in Germany, but falls across Europe as a whole

    Inflation rises in Germany, but falls across Europe as a whole

    The Destatis agency said German CPI reached 6.4 per cent in June