Germany's industrial competitiveness is declining at an unprecedented rate, warned the Munich-based Ifo institute. In January, 24% of German companies rated their competitiveness as low against non-EU firms, while 21% noted growing competition within the EU.
Ifo’s Klaus Wohlrabe highlighted the severity of the decline, stressing the urgent need for reforms. The downturn affects all sectors, with the automotive, metal, and chemical industries particularly impacted, while beverage manufacturers remain relatively stable.
To restore competitiveness, the government must cut bureaucracy, speed up approvals, offer tax relief, and address skilled labor shortages, Wohlrabe urged.
A small plane crashed into the terrace of a residential building near Mönchengladbach, western Germany, on Saturday, killing two people, police said.
President Ilham Aliyev met Michael Harms, Chairman of the Eastern Committee of the German Economy, to discuss expanding Azerbaijan-Germany economic relations and the signing of a joint economic projects roadmap.
Germany has dismissed Russian accusations of warmongering, defending its support for Ukraine’s missile development as a stand for international law.
Russian Foreign Minister Sergey Lavrov said Germany’s direct involvement in the war is already "evident," responding to German Chancellor Friedrich Merz’s remarks supporting long-range strikes by Ukraine.
Germany will deliver an additional €5 billion in military aid to Ukraine, the country’s defense ministry announced on Wednesday, as President Volodymyr Zelenskyy met with top German officials in Berlin.
As Germany considers providing long-range Taurus missiles to Ukraine, military experts warn the move could enable Kyiv to strike targets deep inside Russian territory, including Moscow — a shift that could escalate tensions and draw NATO closer to direct confrontation.
Ukraine has carried out one of its largest drone strikes of the war, reportedly hitting more than 40 Russian military aircraft at multiple air bases, a Ukrainian security official told Reuters on Sunday.
Ukrainian President Volodymyr Zelenskyy said on Sunday that Ukraine will attend a meeting in Istanbul on Monday, following a proposal from Russia.
Flash floods in central Nigeria have killed at least 151 people, with authorities warning the toll may rise further as search and rescue operations continue in the flood-ravaged town of Mokwa, Niger State.
A celebration of Turkish cuisine and friendship took place in Karachi on Sunday as the Turkish Consulate hosted a World Breakfast Day event, sharing traditional flavours with a distinguished Pakistani audience.
On May 28, the inauguration ceremony of Lachin International Airport was held.
Taxi drivers across France are protesting government plans to cut payments for driving patients to medical appointments. These cuts are part of a broader effort by Prime Minister François Bayrou to save €40 billion in the 2026 budget and reduce the country’s large deficit.
A car drove into crowds of Liverpool fans celebrating the club’s Premier League title in the city centre on Monday evening, injuring dozens including 4 children. A 53-year-old man believed to be the driver was arrested at the scene.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
Brazil’s economy is expected to have regained momentum in the first quarter of 2025, driven by a surge in household spending and private investment, according to a Reuters poll of economists conducted from May 21–26.
As Germany considers providing long-range Taurus missiles to Ukraine, military experts warn the move could enable Kyiv to strike targets deep inside Russian territory, including Moscow — a shift that could escalate tensions and draw NATO closer to direct confrontation.
Ukraine has carried out one of its largest drone strikes of the war, reportedly hitting more than 40 Russian military aircraft at multiple air bases, a Ukrainian security official told Reuters on Sunday.
Ukrainian President Volodymyr Zelenskyy said on Sunday that Ukraine will attend a meeting in Istanbul on Monday, following a proposal from Russia.
Flash floods in central Nigeria have killed at least 151 people, with authorities warning the toll may rise further as search and rescue operations continue in the flood-ravaged town of Mokwa, Niger State.
More than 500 people were arrested and two fatalities reported following chaotic celebrations across France after Paris Saint-Germain's historic Champions League victory, according to the interior ministry.
As Germany considers providing long-range Taurus missiles to Ukraine, military experts warn the move could enable Kyiv to strike targets deep inside Russian territory, including Moscow — a shift that could escalate tensions and draw NATO closer to direct confrontation.
Ukraine has carried out one of its largest drone strikes of the war, reportedly hitting more than 40 Russian military aircraft at multiple air bases, a Ukrainian security official told Reuters on Sunday.
Ukrainian President Volodymyr Zelenskyy said on Sunday that Ukraine will attend a meeting in Istanbul on Monday, following a proposal from Russia.
Flash floods in central Nigeria have killed at least 151 people, with authorities warning the toll may rise further as search and rescue operations continue in the flood-ravaged town of Mokwa, Niger State.
A celebration of Turkish cuisine and friendship took place in Karachi on Sunday as the Turkish Consulate hosted a World Breakfast Day event, sharing traditional flavours with a distinguished Pakistani audience.
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