DIRS.INFO The most relevant business & tech news

Doha has faced mounting criticism, mostly from Europe, over its treatment of foreign workers and LGBT rights ahead of the World Cup that began on Sunday. It has denied discrimination and pointed to labour reforms, while organisers previously denied allegations of bribery to win hosting rights. In October his office summoned the German ambassador to object over critical comments by Germany's interior minister. The QatarEnergy boss said Habeck had never voiced such criticism of Qatar to him directly. The German minister, who is responsible for Berlin's energy portfolio, was in Doha in March and had said that long-term energy partnerships were being negotiated.

☆ Germany rejects no-fly zone, could lead to NATO-Russia confrontation
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Nov 16 (Reuters) - Establishing a no-fly zone would pose a threat of direct confrontation between Russia and NATO, a German government spokesperson said, after a missile blast in Poland near the Ukrainian border killed two people on Tuesday. The spokesperson rejected this and said, "Together with all our allies we are agreed that we want to avoid a further escalation of this war in Ukraine." Berlin will offer support to the Polish air defence, a spokesperson for the defence ministry said at a regular news conference on Wednesday. The NATO meeting following Tuesday's blast was not based on the article 4 of the alliance's founding treaty, under which members can bring any issue of concern for discussion, a foreign ministry spokesperson said. Reporting by Rachel More and Riham AlkousaaOur Standards: The Thomson Reuters Trust Principles.

☆ Germany shy of 2030 climate target at current CO2 reduction rate - govt advisors
▼ + stars: | 2022-11-04 | by ( Riham Alkousaa | Zofeen T. Ebrahim | ) www.reuters.com time to read: +2 min

Germany aims to become carbon-neutral by 2045 and cut 65% of emissions by 2030 compared with 1990, but current reduction rates are falling short, the first biennial report by the council showed. The energy sector contributed almost half of Germany's 27% CO2 reduction between 2000 and 2021, while the construction, transport and industry sectors, after a good start, have been sluggish to cut emissions in the past decade. The council said the transport and construction sector needed to be restructured to reverse the trend. A change in consumer behaviour was also necessary and the government should impose strict limits on emissions volumes for all sectors, it added. Nearly 200 countries will gather in Egypt next week for climate talks, as pressure for tougher action to tackle global warming grows.

The trip comes amid rising voices within Scholz's ruling coalition calling for a rethink of Germany's China policy, and growing public concern about Berlin's commercial reliance on the global economic powerhouse. One in two Germans wish that Germany's economy could be more independent from China, a survey published by ARD broadcaster showed on Thursday. China has been Germany's biggest trading partner for the past six years, with volumes reaching over 245 billion euros ($238.9 billion) in 2021. During the trip, where Scholz will meet Xi and prime minister Li Keqiang, the German Chancellor is expected to discuss Russia's war in Ukraine, hoping that China can convince Russia to end hostilities. But Xi expressed his concerns over Ukraine to Russian President Vladimir Putin when the two leaders met in September.

BRUSSELS, Nov 2 (Reuters) - Italy is attempting to weaken a pledge 10 European governments intend to make on Thursday to stop export credit support for fossil fuel projects, according to draft documents and sources familiar with the matter. A group of ministers plan to make a joint statement on Thursday committing to end public trade and export finance support for overseas fossil fuel projects by the end of 2022. Three sources familiar with the discussions told Reuters Italy had asked to remove the list specifying which fossil fuel activities would lose such support. That report said no new fossil fuel extraction projects can be developed if the world is to limit global warming to 1.5 Celsius above pre-industrial levels. An Export Finance for Future report in May said the 10 countries involved had committed 29.8 billion euros ($29.50 billion) in export credit support for fossil fuel projects from 2015-2020.

☆ Fresenius Medical cuts outlook on slower recovery, rising costs
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Oct 30 (Reuters) - Kidney dialysis provider Fresenius Medical Care (FMC) on Sunday revised down its forecast for 2022, expecting net income to decline this year, dragged down by rising labour costs and a slower than expected recovery in North America business. The company now expects net income to decline in the high-teens to mid-20s percentage range this year, down from its previous outlook of a high-teens percentage drop. It still expects revenue to grow at a low single digit percentage rate. FMC said net income dropped 16% in third quarter to 230 million euros ($229.15 million) while operating income fell by 7% to 472 million euros in the quarter. ($1 = 1.0037 euros)Reporting by Riham Alkousaa; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

☆ Audi supports one-off staff payments over permanent wage hikes
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Oct 30 (Reuters) - German carmaker Audi is in favour of offering employees one-off tax-free payments instead of permanent wage increases, its human resources director said, as unions across Europe's biggest economy demand higher wages in light of rising inflation. Workers' purchasing power in Germany has already taken a hit, with consumer price inflation at 11.6% in October. Employers, however, do not see much scope for wage increases due to the rising costs of material and energy. But such payment could be a way to reach an agreement, Audi HR Director Xavier Ros said, adding that responding to rising consumer prices with significant wage increases would harm the economy in the long-term. Audi, a Volkswagen Group (VOWG_p.DE) brand, is not itself a direct partner in the wage negotiations, but it adopts the talks outcomes in a collective wage agreement.

☆ EU examines classifying Iran Revolutionary Guards as terrorists - Germany
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Oct 30 (Reuters) - Germany and the European Union are examining whether to classify Iran's Revolutionary Guards as a terrorist organisation, Foreign Minister Annalena Baerbock said on Sunday. "I made it clear last week that we will launch another package of sanctions, that we will examine how we can also list the Revolutionary Guards as a terrorist organisation," Baerbock said in a interview with ARD broadcaster on Sunday. Her comments come after the head of the Revolutionary Guards warned protesters that Saturday would be their last day of taking to the streets, in a sign that security forces may intensify their already fierce crackdown on widespread unrest. Germany last week said it was tightening entry restrictions on Iran beyond an already announced EU sanctions package. Baebock also said there were currently no negotiations about the nuclear agreement between Iran and the West.

☆ Climate activists glue themselves to dinosaur exhibit at Berlin museum
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Oct 30 (Reuters) - Two women glued themselves to the handrails around a dinosaur exhibit at Berlin's Natural History museum on Sunday in the latest protest by climate activists, calling on the German government to scale up measures to fight climate change. "The dinosaurs became extinct because they couldn't withstand the massive climate changes. The Last Generation group, which was behind the protest, said Germany must cut emissions immediately to stop mass extinction of species and called on Berlin to impose a speed limit on motorways. The Germany government has set CO2 reduction targets to become carbon neutral by 2045 but has not set a speed limit on the country's motorway network. The Natural History Museum said it had filed a criminal complaint for trespassing and property damage.

☆ Germany set to attach conditions to gas price 'brake', sources say
▼ + stars: | 2022-10-30 | by ( Christian Kraemer | ) www.reuters.com time to read: +3 min

Berlin last month set out an energy relief package, including a gas price brake and a cut in fuel sales tax to help households and small and medium-sized business (SMEs). The government is expected to accept many of the commission's proposals once finalised, the sources said. Any companies that breach the conditions would have to pay back the price difference to the government. The gas procurement price for some 25,000 large industrial customers will be capped at 7 euro cents per Kwh for 70% of consumption, the sources added. Private households and small companies will benefit from the cap from March 2023 until the end of April 2024 while the measure could come into force in January for industrial customers.

☆ Germany's Solar Valley could shine again as Europe strives to close energy gap
▼ + stars: | 2022-10-28 | by ( Riham Alkousaa | ) www.reuters.com time to read: +6 min

It is also reacting to a new U.S. law that has raised concern the remains of Germany's formerly-dominant solar industry could relocate to the United States. China's production is also around 10%-20% cheaper that in Europe, separate data from European Solar Manufacturing Council ESMC shows. Dries Acke, the Policy Director at industry body SolarPower Europe, said the body had written to the European Commission urging action. Berlin-based residential solar energy supplier Zolar said orders have risen by 500% year-on-year since the Ukraine war began in February, but clients might have to wait for six-to-nine months to get a solar system installed. "The signs for the solar industry in Germany are much, much better now," he said.

☆ Daimler Truck raises FY outlook on stronger than expected Q3
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Oct 26 (Reuters) - Daimler Truck (DTGGe.DE) on Wednesday slightly raised its full-year earnings forecast after reporting better-than-expected results in the third quarter thanks to a jump in unit sales, higher prices and strong aftersales business. Daimler Truck now expects full-year group revenue between 50 billion - 52 billion euros ($50.40 billion - $52.42 billion), up from a previous forecast of 48 billion - 50 billion. The company, which will present its third-quarter report on Nov. 11, said adjusted earnings before interest and taxes (EBIT) rose 159% in the third quarter to 1.27 billion euros, above analysts' forecast of 1.08 billion euros. ($1 = 0.9921 euros)Reporting by Riham Alkousaa Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Germany to legalize cannabis use for recreational purposes
▼ + stars: | 2022-10-26 | by ( Riham Alkousaa | ) www.reuters.com time to read: +4 min

Health Minister Karl Lauterbach presented a cornerstone paper on planned legislation to regulate the controlled distribution and consumption of cannabis for recreational purposes among adults. Acquiring and possessing up to 20 to 30 grams of recreational cannabis for personal consumption would also be made legal. Many European countries, including Germany, have already legalised cannabis for limited medicinal purposes. The use of cannabis for medicinal purposes has been legal in Germany since 2017. Germany's pharmacists association warned of the health risks of legalising cannabis and said it would put pharmacies in medical conflict.

☆ Germany to cap electricity prices by taxing excess profits
▼ + stars: | 2022-10-19 | by ( Markus Wacket | ) www.reuters.com time to read: +3 min

BERLIN, Oct 19 (Reuters) - Germany's government plans to introduce a cap on electricity prices for households and industry to ease the impact of soaring energy costs, a ministry document seen by Reuters on Wednesday showed. To help finance the cap and pay for the stabilisation of power transmission grids, Berlin is considering skimming off some of electricity companies' profits, the document showed. Its design would be similar to a price brake for gas, details of which the government announced earlier this month, the document showed. As part of the plan, Berlin may skim off 90% of the power profits that electricity companies make above production costs, the paper showed. For spot prices, the levy would apply retroactively from March, and for future prices from December, it said.

☆ Concern about climate change shrinks globally as threat grows - study
▼ + stars: | 2022-10-19 | by ( Riham Alkousaa | ) www.reuters.com time to read: +3 min

Climate change awareness rose slightly in the United States in 2021, the second biggest global polluter, to 51.5%, it added. Regions with the highest ecological threats are on average the least concerned about climate change, with only 27.4% of the Middle East and North Africa and 39.1% of South Asian respondents concerned about the risks. The findings come ahead of the next round of global climate talks when countries meet in Egypt in November for COP27. But despite the shrinking concern, the ecological bill of climate change is growing globally. "Negotiators at COP27 need to consider the ways in which climate change is exacerbating the impacts of ecological threats ... and how the international community can mitigate them," Steve Killelea, the founder of the Sydney-based institute, said.

☆ Explainer: How will Germany implement its nuclear power extension?
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +5 min

The operators of the three remaining nuclear power plants are E.ON (Isar 2), RWE (RWEG.DE) (Emsland) and EnBW (EBKG.DE) (Neckarwestheim 2). HOW LONG CAN THE PLANTS RUN WITH EXISTING FUEL RODS? According to industry group Nuclear Technology Germany (KernD), it usually takes around one year until fresh fuel rods are delivered. CAN GERMANY EXTEND NUCLEAR POWER BEYOND APRIL 2023? Politically, extending the lifespan of nuclear power is a red line for the Greens party, which has ruled out buying new fuel rods for longer operation of the country's remaining nuclear power plants.

☆ German nuclear power extension wins Green minister's endorsement
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Oct 18 (Reuters) - Economy Minister Robert Habeck on Tuesday endorsed the decision of Chancellor Olaf Scholz to use his executive authority to settle a long-running row within the coalition over extending the life of Germany's three remaining nuclear power stations. Robert Habeck's Greens, opponents of nuclear power, wanted two plants kept running until April, while the business-friendly Free Democrats wanted an extension involving all three plants. On Monday, Scholz, a Social Democrat, ordered that all three should be kept going until April at the latest. Habeck said Scholz's decision had offered a political solution and although it was unusual, it was not a scandal for the chancellor to have an opinion and authority that he exercised. Register now for FREE unlimited access to Reuters.com RegisterReporting by Riham Alkousaa, writing by Thomas EscrittOur Standards: The Thomson Reuters Trust Principles.

☆ Possible extension of Germany's nuclear power at risk -econ ministry
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +2 min

But disagreements within the German cabinet could jeopardize the possible lifespan extension for the Isar II power plant, a spokesperson for the Economy Ministry told Reuters. The plant operator needs clarity on the government's plans before starting the maintenance, the Economy Ministry spokesperson said. Monday's decision was delayed due to objections from the finance ministry, a source told Reuters. The ministry is run by the Free Democrats party, which has been demanding a longer lifespan extension for the reactors. "The finance ministry is of the opinion that the proposed continued operation of only two power plants alone is not sufficient," a finance ministry source said.

☆ Berlin has no plans to support joint EU debt for loans - source
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Oct 10 (Reuters) - Germany has no plans to back a joint European Union debt issuance, a government source told Reuters on Monday, denying a media report saying Chancellor Olaf Scholz supported joint debt issuances to tackle the energy crisis. "Such plans are not known in the government," the source said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Andreas Rinke; Writing by Riham Alkousaa; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Germany's measures to protect consumers from rising energy prices
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Lisi NiesnerBERLIN, Sept 29 (Reuters) - Germany agreed a 200 billion euro ($194 billion) "defensive shield" on Thursday to protect companies and consumers against the impact of soaring energy prices, in what the government called a show of strength in an "energy war" against Russia. GAS PRICE BRAKEThe measure will be temporary and benefit private households and companies, bringing prices down to more manageable levels. ECONOMIC STABILISATION FUND REACTIVATIONThe government will finance the gas price cap and the liquidity and subsidies required for the electricity price brake through the Economic Stabilisation Fund (ESF). The government will skim off short-term large gains made by some energy companies during the crisis. GAS VAT REDUCTIONThe government will lower value-added tax (VAT) on gas from 19% to 7% until Spring 2024 and will extend the tax cut to district heating as well.

☆ CIA warned Berlin about possible attacks on gas pipelines in summer - Spiegel
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Sept 27 (Reuters) - The U.S. Central Intelligence Agency (CIA) had weeks ago warned Germany about possible attacks on gas pipelines in the Baltic Sea, German magazine Spiegel said on Tuesday, after gas leaks in Russia pipelines to Germany were reported. The German government received the CIA tip in summer, Spiegel reported, citing unnamed sources, adding that Berlin assumes a targeted attack on Nord Stream 1 and 2 pipelines. A German government spokesperson declined to comment, Spiegel added. Register now for FREE unlimited access to Reuters.com RegisterReporting by Riham Alkousaa; Editing by Tom SimsOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Annegret Hilse/File PhotoBERLIN, Sept 22 (Reuters) - The German government has opened discussions about providing urgent support for scores of regional state-owned energy providers which are struggling to cope with soaring gas prices, three sources familiar with the matter said. A spokesperson for Germany's economy ministry said it was in contact with the country's regional states concerning the municipal authorities, but declined to elaborate. There is a growing sense of urgency to provide support as energy bills for German households and industry become increasingly unaffordable. Liebing, who has previously warned about insolvencies in the sector, said the talks involved measures needed to shield municipal utilities from "acute" difficulties. "Should municipal authorities be at risk of collapse, many other services such as water, bin collection and public transport could fall apart," he said.

☆ Need for Berlin's backing of Uniper is becoming clear - sources
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +1 min

Gas flames of a cooker are pictured in a private home, as Russia's invasion of Ukraine continues, in Bad Honnef near Bonn, Germany, March 30, 2022. REUTERS/Wolfgang RattayBERLIN, Sept 20 (Reuters) - It's becoming increasingly clear to the German government that the unstable situation of Germany's biggest gas importers calls for the state's power, guarantees and financial backing, two sources told Reuters on Tuesday, after reports saying Berlin is close to agreeing a takeover of Uniper. The sources said the government's gas levy on consumers must address whether Uniper's current situation could be solved by state funding, as news about the government taking a majority stake raised questions about the need for a levy. Register now for FREE unlimited access to Reuters.com RegisterReporting by Riham Alkousaa, Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

☆ Germany reaches provisional agreement on Uniper nationalization - Bloomberg
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe logo of German energy utility company Uniper SE is pictured in the company's headquarters in Duesseldorf, Germany, March 10, 2020. REUTERS/Thilo SchmuelgenCompanies Uniper SE FollowFortum Oyj FollowBERLIN, Sept 20 (Reuters) - Germany has reached a provisional agreement with Uniper (UN01.DE) and its Finnish parent, Fortum (FORTUM.HE), about nationalizing the ailing German gas importer, Bloomberg reported on Tuesday, citing sources familiar with the situation. The German government aims to make an announcement regarding the agreement this week although contracts have not yet been signed, according to the report. Register now for FREE unlimited access to Reuters.com RegisterFortum also did not comment on the report while Uniper was not immediately available for comment. Register now for FREE unlimited access to Reuters.com RegisterReporting by Tom Kaeckenhoff, Christoph Steitz, Riham Alkousaa, Writing by Miranda Murray, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

The logo of the energy company Fortum headquarters a subsidiary of Uniper is pictured in Espoo, Finland July 22, 2022. Roni Rekomaa/Lehtikuva/via REUTERSRegister now for FREE unlimited access to Reuters.com RegisterCompanies Fortum Oyj FollowUniper SE FollowBERLIN/DUESSELDORF, Sept 20 (Reuters) - Germany is set to buy Fortum's (FORTUM.HE) stake in Uniper (UN01.DE) and inject a further 8 billion euros ($8 billion) as part of a nationalisation of the gas importer, Uniper said on Tuesday. The capital injection, which would come via a capital increase subscribed only by Germany's government, would bring the total package of loans and equity used to stabilise Uniper so far to at least 29 billion euros. Register now for FREE unlimited access to Reuters.com RegisterFortum, which owns a 78% stake in Uniper, said that the deal will include the "return of the financing Fortum granted to Uniper" which the Finnish group has put at 8 billion euros. ($1 = 1.0019 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Markus Wacket and Riham Alkousaa in Berlin, Tom Kaeckenhoff in Duesseldorf and Christoph Steitz in Frankfurt, editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "Riham al"

25 mentions found