Germany's export slump since 2021 is largely driven by deep-rooted competitiveness issues, the Bundesbank warned in its latest report, calling for urgent structural reforms.
German exporters have suffered a significant loss of global market share between 2021 and 2023, with over three-quarters of the decline linked to deteriorating supply-side conditions, according to the Bundesbank’s monthly report released on Monday.
The report highlights widespread weakness across key sectors such as mechanical engineering, electrical equipment, and energy-intensive industries including chemicals. Rising energy costs and persistent supply chain disruptions also severely affected German export performance, the central bank noted.
The Bundesbank urged immediate policy reforms to improve the country's business environment. Recommendations include stronger work incentives, easing skilled migration, cutting bureaucratic barriers, and introducing targeted tax relief to spur private investment.
While Berlin has recently announced new measures to encourage innovation and investment, economists caution that deeper, more systemic reforms are needed to restore Germany’s competitive standing in the global economy.
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Russian authorities are moving to limit certain calling functions on Telegram and WhatsApp, the messaging service owned by Meta Platforms, the Interfax news agency reported on Wednesday, citing communications regulator Roskomnadzor.
President Volodymyr Zelenskyy has claimed that Russian forces are suffering battlefield losses nearly three times higher than those of Ukraine, even as Moscow maintains a significant numerical advantage in manpower and artillery.
Beyoncé has won her first Emmy Award for Outstanding Costumes for Variety, Nonfiction, or Reality Programming, putting her halfway to an EGOT, the elite status achieved by winning an Emmy, Grammy, Oscar and Tony Award.
French President Emmanuel Macron has formally acknowledged that France waged a war in Cameroon during the country’s struggle for independence - marking the first time Paris has used the term “war” for its actions in that period.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
A resumption of Iraq’s Kurdish oil exports is not expected in the near term, sources familiar with the matter said on Friday, despite an announcement by Iraq’s federal government a day earlier stating that shipments would resume immediately.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
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President Volodymyr Zelenskyy has claimed that Russian forces are suffering battlefield losses nearly three times higher than those of Ukraine, even as Moscow maintains a significant numerical advantage in manpower and artillery.
Ukrainian President Volodymyr Zelenskyy met German Chancellor Friedrich Merz in Berlin on Wednesday before joining a German-hosted virtual conference with U.S. President Donald Trump, NATO and European leaders, two days ahead of Trump’s first meeting with Russian President Vladimir Putin since 2021.
Starlink has officially started operations in Kazakhstan, making satellite internet available to the public for the first time. Citizens can now legally purchase, use, and register Starlink terminals in line with national regulations.
One of the world’s leading companies in the ski industry, Pas Grau International Management from Andorra, is coming to Kazakhstan. The company has registered a subsidiary in the Astana International Financial Centre as part of a large project to build a resort in the Kok Zhailau area.
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