Economy of Germany

Could the closure of two Volkswagen plants trigger a domino effect that will hit the already weakened governing coalition under Olaf Scholz?

The Munich-based Ifo Economic Research Institute expects zero growth for the German economy this year, which today revised its previous estimate of 0.4% growth.

Weaker exports, costly energy and a stuttering green transition have combined to form a "perfect storm" for the German economy, leaving Chancellor Olaf Scholz's coalition bickering over how to change course.

The government will unveil its latest economic forecasts for 2024 on Wednesday, with media reports suggesting a sharp downgrade to a mere 0.2 percent growth.

MARRAKESH - Serbia's GDP growth will reach 2 pct in 2023 and accelerate to 3 pct next year, the International Monetary Fund (IMF) said in its latest forecast, released on Tuesday.

It said the eurozone would see 0.7 pct GDP growth in 2023 and 1.2 pct growth in 2024.

The German economy will shrink by 0.5 pct this year and grow by 0.9 pct in 2024, it said.

Thousands of tourists and residents fleeing a wildfire on Rhodes huddled in schools and shelters on Sunday, with many evacuated on private boats from beaches to safer areas of the Greek island when flames moved towards resorts and coastal villages.

Bosch Rexroth, a Slovenian company that is part of the eponymous German group, has launched a new commercial and production facility near Ljubljana airport. Employees from the company's three locations will now move there, and at least 123 new jobs will be created as production is expanded.

Germany exported goods worth 130.4 billion euros ($139 billion) in April, data published by federal statistics agency Destatis said, a 1.2-percent increase on the previous month.

In March, demand for "made in Germany" goods plunged by 6 percent.

Rescue workers are on the scene at factory 56 in Sindelfingen, which assembles the S-Class, according to the Bild newspaper.
According to a German newspaper report citing police, the suspect was detained after the shooting at the factory.
It added that the background of the shooting is still unclear.

Next month's 7th Posidonia Sea Tourism Forum will bring together top executives and industry leaders from the international cruise sector to discuss the challenges and potential of the industry and highlight the importance of the region and the need for new destinations to keep pace with the industry's rapid growth and emerging trends.

Public Power Corporation (PPC) and Germany's RWE have taken a final investment decision to build five solar farms in northern Greece, the two companies said on Thursday.

The farms will cost €180 million and have a total capacity of about 200 megawatts (MW).