BERLIN, Sept 2 (Reuters) – The German government plans to
close a legal loophole to prevent utility companies from evading
a 40 billion euro ($45 bln) payment to fund the country’s
nuclear exit, a copy of the draft law seen by Reuters shows.
The move deals a major blow to the country’s biggest utility
E.ON, which has announced plans to spin-off its
ailing power plants, blaming German energy policy that has
promoted renewables at the expense of conventional power. It
threatened legal action on Wednesday if the revision of the law
TEHRAN, July 20 (Reuters) – Germany and Iran moved
tentatively on Monday towards reviving a once close trade
relationship, anticipating the lifting of western economic
sanctions against Tehran following a landmark nuclear deal.
Economy Minister Sigmar Gabriel, making the first top level
German government visit to Tehran in 13 years, indicated that a
ministerial-level meeting of a long dormant German-Iran economic
commission would take place early next year in Tehran.
TEHRAN, July 19 (Reuters) – German Vice Chancellor Sigmar
Gabriel urged Iran at the start of a three-day visit to improve
its relationship with Israel if it wanted to establish closer
economic ties with Germany and other western powers.
Gabriel, who is also economy minister, is the first senior
figure from a large western government to visit Iran since it
struck a landmark agreement with world powers on its nuclear
programme last week.
TEHRAN/WASHINGTON (Reuters) – President Barack Obama’s administration sent a nuclear agreement with Tehran to Congress on Sunday and Israeli Prime Minister Benjamin Netanyahu urged U.S. lawmakers to reject a deal he said would only feed an “Iranian terror machine”.
In a first concrete sign of European determination to quickly rebuild economic and political ties with Iran after a 12-year standoff, German Economy Minister Sigmar Gabriel arrived in Tehran with an economic delegation. Other European powers were expected to follow.
TEHRAN (Reuters) – German Economy Minister Sigmar Gabriel arrived in Iran with an economic delegation on Sunday, becoming the first high-ranking western politician to visit the country after it struck a nuclear deal with world powers.
By traveling to Tehran with a delegation of industry group representatives and company officials, Gabriel sends a strong signal that Germany wants to quickly rebuild economic and political ties with Iran after a 12-year standoff over Tehran’s nuclear program.
DRESDEN, Germany (Reuters) – Finance chiefs from the Group of Seven economic powers met on Thursday to discuss how to revive a faltering global recovery, with the United States leaning on Europe to reach a deal to avert a Greek bankruptcy.
The threat of a Greek default, rising oil prices and bond market turmoil are fuelling investor nervousness about an unwinding of the global economic recovery. A slowdown in China — not present at the talks in Dresden, Germany — is adding to the concern.
BERLIN (Reuters) – German Finance Minister Wolfgang Schaeuble told Reuters that the recent rise in the yields of long-term German government debt was a move in the right direction and boded well for life insurers.
Last week, Germany’s 10-year borrowing costs rose at a debt auction for the first time since January 2014.
BERLIN (Reuters) – German Finance Minister Wolfgang Schaeuble told Reuters the Greek government’s optimism about clinching a cash-for-reforms deal with its lenders in days was not backed up by negotiations and he could not rule out Greece becoming insolvent.
Greek Prime Minister Alexis Tsipras’s leftist government hopes a deal with foreign lenders is imminent, with Finance Minister Yanis Varoufakis saying on Monday that an agreement could be reached within a week.
NEW YORK/ATHENS (Reuters) – Germany’s finance minister said on Wednesday there was no prospect of the euro zone reaching a deal with Athens next week on economic reforms that would unlock bailout funds, potentially leaving Greece perilously short of money.
Both the Greek government and its creditors have expressed the need for an agreement, at least in outline, to be reached when euro zone finance ministers meet in the Latvian capital Riga on April 24.
BERLIN (Reuters) – Germany is not investing anywhere near enough and its public and private sector must boost spending to ensure Europe’s largest economy continues to grow and create jobs, a panel of experts said on Monday.
Marcel Fratzscher, head of the Berlin-based DIW economic institute, said the 21-member panel convened by Economy Minister Sigmar Gabriel to come up with a range of investment options had concluded that Germany was suffering from very weak investment.