Tag: Germany

Germany allows India to procure MP5 submachine gun spares: Report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The German government has granted approval to India’s National Security Guard (NSG) to procure spares and accessories for MP5 submachine guns, reported Hindustan Times. Earlier Germany had imposed restrictions on the sale of small arms along with their spares to ‘third countries’ including India.

“A huge exception has been made for India. This shows the importance Germany attaches to its partnership with India,” one of the officials said, asking not to be named, the Hindustan Times report said.

Also Read: Germany likely in recession, Bundesbank says

NSG bought its MP5s, manufactured by the German company Heckler & Koch before the sale restrictions were imposed around 15 years ago. ‘Third countries’ in this context refers to all nations except European Union member states, North Atlantic Treaty Organisation (NATO) countries and NATO-equivalent countries (Australia, Japan, New Zealand and Switzerland).

The removal of restrictions for India will give the Indian military, para-military forces and state police forces another option to buy small arms, said another official. The navy’s marine commandos also use MP5s, the report added.

Some reports had earlier linked the restrictions to German concerns over the possible use of the weapons by security forces in Jammu and Kashmir and human rights issues, but officials clarified that the restrictions were for all ‘third countries’.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Lufthansa suspends Tehran flights amid Middle East tensions

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Germany’s Lufthansa has suspended its flights to and from Tehran because of the present situation in the Middle East, which is on alert following possible Iranian retaliation for a suspected Israeli strike on its embassy in Syria.

An Iranian news agency published an Arabic report on X saying airspace over Tehran has been shut for military drilles. However, it removed the report and denied issuing the news.

Countries in the region and the United States have been on high alert and preparing for a possible attack by Iran since April 1 when Israeli warplanes were suspected of bombing the Iranian embassy compound in Syria.
Lufthansa said it suspended flights to and from Tehran from April 6 until probably April 11.

“We are constantly monitoring the situation in the Middle East and are in close contact with the authorities. The safety of our guests and crew members is Lufthansa’s top priority,” a spokesperson for the company told Reuters.

Lufthansa and its subsidiary Austrian Airlines are the only two Western carriers operating international flights into Tehran, which is mostly served by Turkish and Middle Eastern airlines.
Austrian Airlines, which is owned by Lufthansa and runs a direct Vienna-Tehran service six times a week, was still scheduled to operate its flight into Tehran on Thursday, according to its website and FlightRadar24.

There was no immediate word from other international airlines that fly to Tehran.

Iran’s supreme leader, Ayatollah Ali Khamenei, said that Israel “must be punished and it shall be” for the Damascus strike that killed seven Iranian Revolutionary Guards Corps members.

Among them was Mohammad Reza Zahedi, a senior commander in the Quds Force, an elite overseas unit of the Revolutionary Guards.

Israel, which launched a war in the Gaza Strip six months ago against Iran-backed Hamas, has not confirmed it was behind the strike on Damascus, but the Pentagon has said it was.

With inputs from Reuters

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Kremlin says German army discussing strikes on Russia, questions if Scholz is in control

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Kremlin said on Monday a purported recording of German military discussions showed Germany’s armed forces were discussing plans to launch strikes on Russian territory, and questioned whether Chancellor Olaf Scholz was in control of the situation.

Russian media last week published an audio recording of what they said was a meeting of senior German military officials discussing weapons for Ukraine and a potential strike by Kyiv on a bridge in Crimea, prompting Russian officials to demand an explanation.

“The recording itself says that within the Bundeswehr, plans to launch strikes on Russian territory are being discussed substantively and concretely. This does not require any legal interpretation. Everything here is more than obvious,” Kremlin spokesman Dmitry Peskov said.

Germany says it is investigating the recording. Russia has summoned Germany’s ambassador to demand an explanation.

“Here we have to find out whether the Bundeswehr is doing this on its own initiative. Then the question is: how controllable is the Bundeswehr and how much does Scholz control the situation? Or is it part of German government policy?” Peskov said.

“Both (scenarios) are very bad. Both once again emphasise the direct involvement of the countries of the collective West in the conflict around Ukraine.”

Germany is among the NATO countries that have supplied weaponry to Ukraine including tanks. Russia accuses what it calls the “collective West” of using Ukraine to wage a proxy war against it; NATO says it is helping Kyiv to defend itself against a war of aggression.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Germany likely in recession, Bundesbank says

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Germany is likely in recession now as external demand is weak, consumers remain cautious and domestic investment is held back by high borrowing costs, the Bundesbank said in a regular monthly report on Monday about Europe’s biggest economy.

Germany has struggled since Russia’s 2022 invasion of Ukraine pushed up energy costs, and its vast, industry-heavy economy is now in its fourth straight quarter of zero or negative growth, weighing on all of the euro zone.

“There is still no recovery for the German economy,” the Bundesbank said. “Output could decline again slightly in the first quarter of 2024. With the second consecutive decline in economic output, the German economy would be in a technical recession.”

This weak performance has raised questions about the sustainability of the German economic model and critics argue that much of its energy-reliant heavy industry is now being priced out of international markets, warranting an economic transformation.

The government, however, has pushed back on gloomy projections, arguing that it is merely a perfect storm of high energy costs, weak Chinese demand and rapid inflation that temporarily holds back growth but does not fundamentally question economic strategy.

For now the weakness will persist, the Bundesbank argues.

Foreign industrial demand is trending down and the order backlog is dwindling.

Firms are also holding back investment, partly because financing costs have risen sharply since the European Central Bank pushed up interest rates to a record high to combat inflation, the central bank said.

High nominal wage growth is also impacting firms and strikes in key sectors, such as transport, could also weigh on growth in the quarter.

Disruption of shipping in the Red Sea will, however, not have a significant impact because there is plenty of spare capacity in shipping and because freight costs are only a minor part of the overall cost of goods, the Bundesbank said.

While the outlook is weak, the bank said it expects no major deterioration in the labour market, which has insulated the economy so far, and Germany was not facing a broad-based, prolonged recession.

“The weak phase in the German economy that has been ongoing since the beginning of the Russian war of aggression against Ukraine will thus continue,” the bank added.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

‘Risqué Business’: Explore the ‘sex cultures’ of the Netherlands and Germany in this Netflix show

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Popular South Korean comedians Shin Dong-yup and Sung Si-kyung are all set to take you through a completely rare and surprising adventure in their upcoming show ‘Risqué Business: The Netherlands and Germany’. The trailer of the new talk show was released last week, generating curiosity among fans. It features the duo exploring the sex cultures of the Netherlands and Germany.

The show is slated for release on Netflix on Tuesday, February 20.

As per the OTT platform, the show will showcase Shin Dong-yup and Sung Si-kyung “boldly explore the sex cultures of the Netherlands and Germany, mixing hands-on experiences with revealing interviews.”

It’s not the first time the two embarked on a journey to explore the sex culture and business of a country. They have previously explored places like Japan and Taiwan.

The series touches upon a genre that Korean performers rarely discuss and is a departure from the usual content, which ‘K-drama’ lovers are used to. This project is a daring and bold step for the two comedians, who have been part of the industry for a long time now.

From visiting naked dance clubs to red light areas, ‘Risqué Business: The Netherlands and Germany’ will show the two comedians travelling through the unconventional and fascinating aspects of the two European nations. They will also be seen taking part in several talks as part of their journey.

Shin Dong-yup, a renowned comedian and TV host, came into the limelight after appearing in shows like ‘Happy Saturday’ and ‘Guys n Girls’. The 53-year-old has also been a part of projects like TV Animal Farm, Immortal Songs: Singing the Legend, Saturday Night Live Korea, Witch Hunt, DoReMi Market and We Got Divorced among others.

Meanwhile, Sung Si-kyung is a South Korean singer, entertainer and TV. The 44-year-old made his debut in the entertainment industry in 2001. He has released eight studio albums in Korean language and two studio albums in Japanese. Some of his popular shows include 2 Days & 1 Night, Witch Hunt, Vocal War: God’s Voice, On & Off, Vocal War: God’s Voice, and Battle Trip.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Strike by security workers at most German airports, affects 2 lakh passengers

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Security workers at most of Germany’s major airports walked off the job Thursday in a one-day strike to step up pressure in a pay dispute, prompting widespread flight cancellations.

The Verdi union, which announced the walkout on Tuesday afternoon, called on workers to strike at 11 airports: Frankfurt, Berlin, Cologne, Duesseldorf, Hamburg, Stuttgart, Leipzig, Hannover, Dresden, Bremen and Erfurt.

Airports in Bavaria — including Munich, the country’s second-busiest — were not affected.

All departures for the day from Berlin, Hamburg and Stuttgart were cancelled before the strike started. About four-fifths of flights in Cologne and one-third in Duesseldorf also were cancelled.

In Frankfurt, the operator of Germany‘s busiest airport said security checkpoints outside the transit area would remain closed. It advised passengers planning to start their journeys there not to come to the airport. However, there were connections for transferring passengers; Lufthansa planned to operate much of its planned schedule, including intercontinental flights.

Airport operator group ADV estimated that about 1,100 flights in total would be cancelled or delayed, affected some 2,00,000 passengers, German news agency dpa reported.

Three rounds of labor negotiations have failed to produce a pay agreement for some 25,000 security workers. Verdi is seeking a raise of 2.80 euros per hour ($3.03) for all employees and calling for bonuses for overtime work to kick in from the first extra hour.

An employers’ association says it offered a 4% raise this year and 3% next year, as well as concessions on when overtime bonuses kick in. The talks are due to resume on February 6.

Short “warning strikes” are a common tactic in German contract negotiations. In a separate dispute, Verdi has called for strikes Friday on local public transportation systems in much of the country.

A bitter dispute over working hours and pay resulted in full-scale strikes last month that affected Germany’s passenger trains. The GDL union, which represents many of the country’s train drivers, on Monday ended a five-day strike earlier than originally planned after agreeing to resume talks with the state-owned main railway operator, Deutsche Bahn.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Heavy snowfall and freezing rain cause flight, train cancellations across Germany

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Heavy snowfall and freezing rain across Germany on Wednesday caused the cancellation of hundreds of flights and trains, crashes on icy roads and school closures.

At Frankfurt airport, Germany’s biggest, more than 500 flights were canceled, while in Munich over 250 arrivals and departures were canceled. In western Germany, Saarbruecken airport closed for the day, and Duesseldorf and Cologne/Bonn airports were also affected by delays and cancellations.

National train operator Deutsche Bahn canceled several long-distance trains and announced that the maximum speed of its fast ICE train would be limited to 200 kilometers per hour (124 miles per hour) due to the extreme weather.

The freezing rain across western and southern Germany also led to many accidents on icy roads in the early morning hours of Wednesday. As a precaution, many schools and kindergartens closed for the day and some companies offered their employees the option of working from home.

The German Weather Service warned of a very high risk of icy roads due to freezing rain in a region including the city of Trier in the west and Frankfurt in the center of the country.

In the states of Rhineland-Palatinate, Hesse and Baden-Wuerttemberg, it said there was a “great danger to life and limb due to freezing rain with heavy ice accumulation; widespread ice breakage.” People living in the regions were asked to avoid driving and stay inside if possible.

North of Germany, the Scandinavian countries were also hit by the cold winter weather.

Heavy snowfall brought traffic to a standstill in large areas, with roads and highways clogged with stranded motorists, public transportation delays, cancellations of some ferry lines, and the closure of some bridges. Police in several parts of Denmark urged people to stay home.

The airport in Oslo, Norway, said that “due to heavy snowfall in the Oslo area, there are delays and cancellations with public transportation to and from Oslo airport. If you are going to travel, allow plenty of time to get to the airport and follow the information from your airline.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Lufthansa Airlines launches Hyderabad-Frankfurt direct flights five days a week

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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GMR Hyderabad International Airport Ltd (GHIAL) on Wednesday announced the launch of direct flights to Frankfurt, Germany in partnership with Lufthansa Airlines.

With five weekly departures (Monday, Tuesday, Wednesday, Thursday, and Saturday), flight LH753 will depart from Hyderabad at 01:55 hours and arrive in Frankfurt at 07:05 hours.

The return flight LH752 will depart from Frankfurt at 10:55 hours and arrive in Hyderabad at 23:55 hours, a release from GHIAL said.

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GMR Hyderabad International Airport Ltd CEO Pradeep Panicker said, “This connectivity will benefit travellers visiting Frankfurt as a transit point or for leisure trips and would open up multiple destinations in Europe, USA, Canada, and South America via Frankfurt.”

Lufthansa Group (South Asia) Senior Director George Ettiyil said, “As we launch Hyderabad-Frankfurt service, our capacity to India has increased by 14% (relative to 2019), making this country the fastest growing major market for Lufthansa.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

German rail strike disrupts travel plans; tourists stare at nationwide disruptions

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Members of the union representing German train drivers, GDL, are all set to launch open-ended strikes throughout 2024, intensifying an acrimonious dispute with the nation’s primary railway operator, Deutsche Bahn (DB). The contentious issues of the conflict revolve around working hours and compensation. Rail travel, in Germany, witnessed a series of disruptive strikes in 2023, and so far, the industrial action shows no signs of abating.

The core of the dispute revolves around working hours, with GDL pushing for a reduction from 38 to 35 hours per week without a corresponding cut in pay. Additionally, the union is demanding a monthly pay increase of €555 (₹50,428.97) and an inflation compensation bonus for its members.

The latest round of strikes commenced at 2 am on Wednesday and will continue till 5 pm on Friday. DB has raised alarms, indicating that its services are poised to face substantial disruptions on a nationwide scale during the ongoing period of strikes. Citing information from BTN Europe, the railway operator foresees significant delays and widespread cancellations.

The impact of the strike extends beyond inconvenience for travellers; it also affects companies relying on rail cargo transport for raw materials or goods. DW reports that nearly 60% of DB’s freight transport services are conducted across Europe, with six out of 11 freight transport corridors in Europe passing through Germany, according to the Federal Ministry for Digital and Transport (BMDV).

As Germany’s largest employer of train drivers, DB oversees a broad spectrum of services, including long-distance passenger trains such as ICE, IC, EC, and Nightjet trains, as well as regional trains and S-Bahn lines. DB has urged travellers to cancel or postpone non-essential trips, emphasising that millions of travel plans will be impacted, according to Reuters.

DB has encouraged affected passengers to check travel connections 24 hours before their journey, as both long-distance and regional transport services are expected to experience significant reductions, SchengenVisaInfo.com reports.

To alleviate the impact on passengers, DB has temporarily lifted restrictions on train connections from January 10 to January 12. Passengers are allowed to use tickets at a later date, even if the route is modified, and seat reservations can be cancelled without charge, SchengenVisaInfo.com added.

The strike comes at a challenging time, with ongoing road obstructions in certain areas due to farmers’ protests, further complicating travel across Germany. Tourists and commuters are advised to plan accordingly and stay updated on travel advisories during this period of nationwide rail disruptions.

ALSO READ | China eases visa on arrival rules to attract more tourists

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Indian-origin tycoon entangled in Europe’s biggest tax fraud investigation

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In what seems to be Europe’s biggest tax scandal, the ‘cum-ex’ scheme fraud valued at £10 billion (around ₹1.0196 trillion) in Germany alone, is now poised to impact UK banks. Nearly 2,000 suspects, including bankers, brokers and hedge fund managers in London, find themselves implicated, according to the financial website This Is Money.

Notably, the scandal also ensnares several law firms and auditors. The investigation has also found links to an Indian-origin tycoon, who recently lost a final legal bid against proceedings.

Hedge fund founder Sanjay Shah was charged, along with six others, to settle their German money-laundering cases over the proceeds of ‘cum-ex’ tax deals. In a recent development, Sanjay Shah faced a setback as he lost his final attempt to prevent Denmark’s tax authority from pursuing him and fellow individuals in London regarding the alleged tax fraud. Senior judges ruled in favour of allowing the case to proceed, the report added.

The institutions under scrutiny span international giants like Barclays, Merrill Lynch from the UK, Bank of America, BNP from France, Morgan Stanley from the US, and Nomura from Japan.

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High-profile individuals entangled in the investigation face severe legal consequences if found guilty as already many people have faced imprisonment or fine. Christian Olearius, the ex-CEO of MM Warburg, faced charges in July 2022. German tax attorney Hanno Berger, extradited from Switzerland, received an eight-year sentence. Paul Mora, a former New Zealand investment banker, earned a spot on Interpol’s Most-Wanted list in 2021. Furthermore, executives from London-based Duet Group and four investment bankers associated with the now-defunct Maple Bank find themselves behind bars.

Allegedly commencing in 2001, the scandal was uncovered in Germany in 2012 through a comprehensive investigation known as the ‘cum-ex’ files, led by the German Correctiv group and collaborated with various European media outlets, according to a European Parliament report. Besides Germany and the UK, countries such as Denmark, Belgium, Austria, Switzerland, and Norway have also been affected, with repercussions expected to linger for years.

The total expense for European taxpayers stemming from cum-ex schemes implemented between 2001 and 2012 is projected to surpass €55 billion (approx. ₹4.8985 trillion), the European Parliament report added.

What is a ‘cum-ex’ scam?

The cum-ex scam, as explained by an old Washington Post report, exploited a tax code loophole, allowing multiple individuals to claim ownership of a stock and receive refunds on a dividend tax paid only once. The term ‘cum-ex’ originates from the Latin term cum/ex, signifying with/without, as the stock was sold with a dividend but delivered without one. In 2012, Germany prohibited this practice.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow