Lufthansa reports operating profit of 1.3 billion euros
FRANKFURT – Lufthansa Group reports an operating profit of 1.3 billion euros for the third quarter following a strong summer travel season. Carsten Spohr, Chairman of the Executive Board and CEO of Deutsche Lufthansa AG points out: “Today, we are … Continue reading Lufthansa reports operating profit of 1.3 billion euros
German-Indian Rapprochement: New Perspectives in New Delhi
NEW DELHI – Berlin and New Delhi are aiming to deepen their trade relations – a venture that was reaffirmed at the recent meeting between Chancellor Olaf Scholz and Prime Minister Narendra Modi in India’s capital, New Delhi. Despite the … Continue reading German-Indian Rapprochement: New Perspectives in New Delhi
China: Lufthansa capitulates to global competition
FRANKFURT—The German airline Lufthansa has officially confirmed that it will temporarily suspend its daily flight service from Frankfurt to Beijing due to intense competition and economic considerations. This decision, which comes into effect with the winter flight schedule on October … Continue reading China: Lufthansa capitulates to global competition
Chinese Automakers Accelerate European Expansion
PARIS – The Paris Motor Show has always been a grand stage for the automotive industry, and the 2024 edition is no exception. This year, the spotlight shines on the Chinese car industry, which is making significant moves to establish … Continue reading Chinese Automakers Accelerate European Expansion
EU plans punitive tariffs on Chinese EV cars
BRUSSELS/BERLIN – The European Commission has received the green light to impose high tariffs on electric vehicles produced in China. This measure, which has not yet been finalized, aims to protect European manufacturers from what is seen as China’s distortive … Continue reading EU plans punitive tariffs on Chinese EV cars
Electromobility in China: a model for sustainability?
BEIJING – A remarkable transformation is underway in the bustling metropolises of China, such as Beijing. Once a rarity, electric cars are now on the fast track to dominate the automotive market. Showrooms for electric vehicles, operated by innovative brands … Continue reading Electromobility in China: a model for sustainability?
Habeck initiates negotiations on EU punitive tariffs
BEIJING – During his current visit to China, German Minister of Economic Affairs Robert Habeck has initiated discussions with EU Trade Commissioner Valdis Dombrovskis about the commencement of negotiations on the punitive tariffs on Chinese electric cars considered by the … Continue reading Habeck initiates negotiations on EU punitive tariffs
China is no longer Germany’s largest trading partner
BERLIN/BEIJING – In a notable development in international trade, China has lost its status as Germany’s largest trading partner, now falling to second place behind the United States. This shift is reflected in the figures for the first quarter of … Continue reading China is no longer Germany’s largest trading partner
BASF plans to shift business from Germany to China
MANNHEIM – In a remarkable turn of events, BASF, Europe’s largest chemical company, has announced a strategic realignment of its business activities, which includes a gradual closure of its production sites in Germany and a shift of investments to China. … Continue reading BASF plans to shift business from Germany to China
Germany: Foreign investments showing a new record
BERLIN – The value of all planned foreign investment projects (FDI) in Germany was around 34.8 billion euros in 2023 – an increase of 37.5 percent compared to the previous year (2022: 25.3 billion euros) and thus a new record. … Continue reading Germany: Foreign investments showing a new record