Economy of Germany

The closure of the Bosch Siemens Hausgerate (BSH) factory in Piraeus has been put back three years to the end of 2021.

JP Morgan has raised its target price for OTE telecom shares to 14.1 euros, expecting the Deutsche Telekom-owned company to expand further in the domestic market by adding to its broadband connection market share.

On Wednesday OTE's share price on the Athens stock market ended at 10.75 euros.

SOFIA (Bulgaria), July 17 (SeeNews) - Bulgarian IoT company Allterco Robotics, a wholly-owned subsidiary of telecommunications services provider Allterco [BUL:A4L] said on Tuesday it has joined Deutsche Telekom's Hub:raum programme for mentoring startups with innovative business ideas.

OTE, Greece's biggest telecoms operator, said it raised 400 million euros from a four-year bond issue.

It completed the note issue on Wednesday via a bookbuilding process and said it was oversubscribed by about five times.

The coupon was set at 2.375 percent, the lowest that OTE has achieved in the last decade, it said in a statement on Thursday.

After having seen a decreasing demand from many Western and northern European markets, Turkey is back in fashion in summer season and has become the third most popular destination after Spain and Greece, Anglo-German travel and tourism company TUI has stated.

Bozankaya, a leading public transport vehicle builder in Turkey, is set to make the country's first-ever metro car export, as part of a consortium with Siemens Mobility, the company said on June 19.

U.S. warning it may introduce tariffs on foreign auto imports hit shares in German carmakers BMW, Daimler and Volkswagen yesterday, which together have a more than 90 percent share of North America's premium car market.

May 17, 2018, Sofia.

German carmaker Volkswagen has said it will recall 410,000 cars from its own brand and Spanish subsidiary Seat over faulty seat belts, warning customers not to use the middle seat in the meantime.

German insurance giant Allianz said on May 4 it would stop insuring coal-fired power plants and mines extracting the fuel, adding that it aims to divest from the sector completely by 2040.