China’s currency falls to record low – central bank under pressure

Chinese yuan The currency comes in an onshore variant, which is legal tender in China, and an offshore entity, which is traded abroad. Both are currently under a lot of pressure. (Photo: Reuters) Beijing, Frankfurt The different strategies of the US and the Chinese central bank (PBoC) are reflected in the exchange rates in Asia: […]

Chinese terminal participation in Hamburg only subject to conditions

A Cosco company tanker The IfW expressed criticism of the participation of the Chinese group. (Photo: Reuters) Hamburg/Kiel The Kiel Institute for the World Economy (IfW) has warned against a participation by the Chinese terminal operator Cosco in Hamburg’s HHLA terminal in Tollerort (CTT) without strict conditions. This “should above all include a guarantee that […]

China threatens to take Taiwan by force

Chinese pilot The Chinese military is currently demonstrating its strength in front of Taiwan. (Photo: dpa) Tokio China has presented a new white paper on Taiwan – thereby exacerbating the conflict with the island state. The publication makes it clear that there is no compromise for the leadership in Beijing: they are unequivocally raising their […]

How the lockdowns are damaging China’s reputation as a location for innovation

VW Work in China Companies from the automotive industry are fully committed to China. (Photo: dpa) Peking China had actually developed into an increasingly important research and development location for foreign companies in recent years – until the pandemic came. The lockdowns, especially the nine-week lockdown of Shanghai, could be a “game changer”, said Jörg […]

German ex-boss of Austria’s energy group OMV not relieved

WIEN Seele moved from the management of Wintershall to OMV in 2015. There he had put his faith in investments and business in Russia. In retrospect, OMV supervisory board chairman Mark Garrett described this as a mistake. He pointed out that the company had to write off two billion euros on Russia-related projects in the […]

Allianz sells majority stake in Russia

Allianz Interholding takes over the majority of the Russian business. (Photo: ullstein bild/Getty Images) Frankfurt Allianz is not withdrawing completely from Russia, but is significantly reducing its involvement there. The Dax group is selling a majority stake in its Russian business to Interholding, the owner of Russian property insurer Zetta Insurance. The insurer did not […]

Germany shouldn’t be surprised if India steals cheap Russian oil

Narendra Modi and Olaf Scholz The global south is suffering – without being able to help it – particularly badly from the consequences of the war. (Foto: Getty Images) Anyone who wants to punish Russia for attacking Ukraine can easily despair of India. As the West scales back its oil deals with Russia, the country of […]

Emir of Qatar and minister visit Berlin

BERLIN According to Qatari information, Foreign Minister Mohammed bin Abdulrahman Al Thani, Energy Minister Saad Sharida al-Kaabi, Finance Minister Ali bin Ahmed al-Kuwari and Trade Minister Mohammed bin Hamad Al Thani are also traveling in addition to the Emir. The German government hopes that deliveries of liquefied natural gas (LNG) from Qatar can help reduce […]