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Labor is German chip sector's biggest challenge

Labor is German chip sector's biggest challenge

July 2, 2023 • 12:00 AM

Behind the Iron Curtain, chip development was centered in the former East German city of Dresden. Both in Dresden and the area around it, that legacy is still present. Today, more than three decades later, Saxony supplies one in three of the semiconductors produced in Europe. . Millions of dollars have been invested in the state, and Saxony, the rumored location of a future TSMC plant, is home to fabrication facilities, or "fabs," for firms like Infineon, Bosch, and Globalfoundries. But the...

Germany desperately in need of engineers

Germany desperately in need of engineers

July 2, 2023 • 12:00 AM

Engineers from other countries are drawn to the greater Munich area, but these professionals are extremely uncommon in Mecklenburg-Western Pomerania and Saxony-Anhalt, among others. This is demonstrated by a study that was released on Tuesday by the German Economic Institute (IW) and the Association of German Engineers (VDI). Immigrants from other countries are intended to help Germany fill its urgent need for more engineers. But there are significant variations between regions. 10,590...

Airbus doubles production in China

Airbus doubles production in China

April 10, 2023 • 12:00 AM

When the Chinese Aircraft Procurement Authority ordered around 300 new aircraft from Airbus for the state-owned airlines last year, at first glance this was not linked to any quid pro quo, as is usual in such cases. China simply seemed to need to buy a lot of new Airbus jets in order to be able to demonstrate the growth it was aiming for in air traffic. Since French President Emmanuel Macron showed up in Beijing last week with a large business delegation, people have been proven wrong. The...

New cars become more affordable again

New cars become more affordable again

April 7, 2023 • 12:00 AM

According to a study, new cars are becoming slightly more affordable again on the German car market. Manufacturers and dealers enticed customers with higher discounts on list prices in March in view of the renewed rise in production, according to the Duisburg-based Center Automotive Research. In addition, there was an increase in the proportion of vehicles that dealers and manufacturers registered on their own account and which were launched on the market as promotional offers after a short...

British central bank raises key interest rate

British central bank raises key interest rate

March 23, 2023 • 12:00 AM

The British central bank is continuing its fight against high inflation with another interest rate hike. The key interest rate will rise by 0.25 percentage points to 4.25 percent, as the Bank of England announced on Thursday in London after its meeting. The British banking system is "resilient," the central bankers said. In the short term, the economic outlook for the U.K. is better than it was in February, they said. The Bank of England (BoE) thus continues to push up the key interest rate in...

Pensions rise more than expected

Pensions rise more than expected

March 20, 2023 • 12:00 AM

Inflation is also causing problems for many pensioners. It is now clear how much their payments will increase in the summer. As Federal Minister of Labor Hubertus Heil announced on the sidelines of a visit to Canada, pensions will increase by 4.39 percent in western Germany and by 5.86 percent in the new federal states as of July 1. This means that the current pension value will be the same in the west and the east. Because of the higher wage increase in the east, the pension adjustment in the...

Crypto derivatives and security tokens regulation in 2023

Crypto derivatives and security tokens regulation in 2023

March 16, 2023 • 12:00 AM

FTX's collapse and the May crash of stablecoin TerraUSD served as a reminder of the necessity for thorough regulation of the crypto markets. This regulatory mechanism needs a strong legal base, the cornerstone of which is a workable framework to distinguish assets that are securities from those that are not. So what can we expect from the SEC and CFTC in 2023? Let's find out. Legal definition and taxation of cryptocurrency The notion of "cryptocurrency", which is also known as "virtual...

State of Lower Saxony wants to get into the solar industry

State of Lower Saxony wants to get into the solar industry

February 28, 2023 • 12:00 AM

Lower Saxony's Minister of Economics, Olaf Lies, wants to establish solar plant production in his state with state participation. "Our goal is to establish our own solar production capacities in Lower Saxony. We are currently looking into this," the SPD politician told F.A.S. Capacities would have to be in the gigawatt range for the project to make economic sense, he emphasized. The goal, he said, is to reduce dependence on imports from Chinese solar module manufacturers. In this regard, the...

BASF cuts 2,600 jobs but plans to distribute profits

BASF cuts 2,600 jobs but plans to distribute profits

February 25, 2023 • 12:00 AM

The chemical group BASF is cutting 2,600 jobs and closing roughly 10 percent of its production capacities at its main site in Ludwigshafen. The group is holding out the prospect of a stable dividend of 3.40 euros for shareholders for the crisis year 2022, notwithstanding the drop in profits, for a total of 3 billion euros. These are the key points of the forecast presented on Friday and the much-anticipated shape of the announced savings program for the European plants. The number of jobs to be...

Trainees in catering and hotel industry rising again

Trainees in catering and hotel industry rising again

February 23, 2023 • 12:00 AM

During the pandemic, tens of thousands of workers left the hospitality industry to find new jobs. Now there is at least a small turnaround on the Berlin training market. "The biggest increases were in the training occupation of specialist for restaurants and event catering," writes the Chamber of Industry and Commerce (IHK) in its 2022 training balance sheet. All in all, 7708 new company contracts were signed in IHK occupations last year, which was 13 percent more than in 2021. The...

Supermarket chains lower their coffee prices

Supermarket chains lower their coffee prices

February 12, 2023 • 12:00 AM

After butter prices, coffee prices in Germany are also sliding. The retail chains Aldi, Kaufland and Norma significantly reduced the prices of ground coffee and whole beans. Edeka, Rewe and Penny announced they would follow suit. The discounter Aldi announced on Friday that it had reduced the prices of its own brands Morena, Markus Kaffee, Amaroy and Tizio in its more than 4,000 stores "permanently by up to 20 percent" with immediate effect. The innovation applies to Aldi South and Aldi...

Austria's sixth place in Ukrainian investments a good example of how our business can cooperate after war

Austria's sixth place in Ukrainian investments a good example of how our business can cooperate after war

February 10, 2023 • 12:00 AM

Interview with Vitaly Kropachov, Ukrainian businessman and owner of the Ukrdoninvest group of companies, for the Austrian business magazine Trend Martina Bachler: I thank you for taking the time for this interview. The topic of our conversation is the post-war reconstruction of Ukraine. How does Ukrainian business feel today? Especially business that is not limited to one enterprise or one field of activity. Vitaliy Kropachov: Because of the war and the processes accompanying it, we clearly...

German PKV Insurance

German Private Health Insurance

Both private Health Insurance in Germany and public insurance, is often complicated to navigate, not to mention expensive. As an expat, you are required to navigate this landscape within weeks of arriving, so check our FAQ on PKV. For our guide on resources and access to agents who can give you a competitive quote, try our PKV Cost comparison tool.

Hospitals

Hospital and Clinic Directory

Germany is famous for its medical expertise and extensive number of hospitals and clinics. See this comprehensive directory of hospitals and clinics across the country, complete with links to their websites, addresses, contact info, and specializations/services.

Events

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Echtzeitalter

Join us for the premiere of Echtzeitalter, a captivating theater production based on the novel by Tonio Schachinger. The story follows Till, a new student at a prestigious gymnasium, who grapples with the outdated teaching methods of his strict teacher, Dolinar. As Till navigates his elite...

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Switzerland Plans Transit Fee for Foreign Drivers Using Its Roads
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European Parliament Blocks Fraud Investigation into CSU Politician Angelika Niebler
The European Parliament has halted ongoing fraud investigations against Angelika Niebler, a...

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