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German Economy Minister, Peter Altmaier, announced that Germany would buy stakes in foreign companies to prevent the sale of key technologies. Germany has developed a national industrial strategy aimed at supporting local exporters. German companies face competition from the US and China, and buying assets in foreign corporations can help them remain in the market. German automakers, BMW, Mercedes-Benz and Volkswagen, were left behind Tesla after the company released viable cars. The popularity of electric cars threatens the competitiveness of the automotive industry in Germany. The German government will also strengthen competitiveness by controlling foreign investment. China has already merged some of Germany’s electricity and equipment companies. Last summer, the German government vetoed the purchase of Leifeld Metal Spinning AG by a Chinese investor.
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
On Monday, Deutsche Bundesbank’s President Jens Weidmann said in a newspaper interview that Germany would toughen its auditing and accounting regulations to prevent another scam like the Wirecard scandal. Wirecard AG (WDI), a financial ...
Germany’s contribution to the European Union’s budget would rise by 42% or 13 billion Euros ($14.63 billion) annually in the coming years, the German national daily newspaper Die Welt reported on Monday. Government calculations ...
Chinese Internet service provider Tencent Holdings Ltd (0700.HK) said on Friday that it is discussing an investment worth $200 Million in the world's largest music company Warner Music Group (WMG) as part of its initial public offering ...
Germany’s Economy Minister Peter Altmaier announced on Monday that the government is still negotiating with the European Commission over its rescue deal for German airline Lufthansa (LHAG.DE). He added that Berlin expects Brussels to ...
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