
Germany updates: Merz seeks to win over investors – DW – 07/21/2025
Chancellor Friedrich Merz is welcoming executives from top German firms on Monday, hoping to rally fresh investment after two years of recession.
Around 30 companies — including big hitters like Siemens and Deutsche Bank — are expected to present projects under the "Made for Germany" push to restore confidence in the economy.
While the government has approved billions in tax relief and a €500-billion ($580 billion) fund for infrastructure and climate, Berlin says public money alone won't be enough.Once famed for never being late, German trains almost never run on time anymore.
Deutsche Bahn has launched a refurbishment program that is likely to last at least a decade, and the costs and criticism are increasing.
Read the full story on increasing delays on Germany's rail network.
Germany's bond market calmed slightly on Monday after weeks of rising long-term interest rates. Investors are now waiting for new economic data from the Eurozone and a key decision from the European Central Bank (ECB).
A bond yield is the return investors get for lending money to the government by buying its bonds. When bond prices go up, yields go down — so falling yields often reflect expectations of slower growth or lower interest rates.
Economists believe the ECB will keep interest rates steady for now, but might cut them again as early as September.
Some analysts think this week's Eurozone business activity data could show little change, partly due to global trade worries and a strong euro. That could make German government bonds more attractive, pushing their prices up and yields down.
Senior representatives from around 50 countries are reconvening for another meeting of the Ukraine Defense Contact Group.
The virtual session is set to begin with opening statements from German Defense Minister Boris Pistorius, UK Defense Secretary John Healey, and Ukrainian Prime Minister Denys Shmyhal.
The Ukraine Defense Contact Group was first launched on April 26, 2022, at the US air base in Ramstein, Germany — leading to the term "Ramstein format."
US President Donald Trump's turnaround on military aid for Ukaine is likely to be the main topic of discussion, as NATO allies work to facilitate the weapons delivery.
Survivors of abuse within the Catholic Church are urging the Vatican to take action against Cologne Cardinal Rainer Maria Woelki, following years of controversy and a newly closed investigation.
The plaintiffs accuse Woelki of shielding perpetrators and retraumatizing victims through his handling of abuse cases in the archdiocese.
The complaint, submitted by all 12 members of the survivors' advisory board at the German Bishops' Conference, was drafted by physician and board member Katharina Siepmann.
"The affected often experience the cardinal's behavior as offensive," said Siepmann, who suffered three years of severe abuse as a child and has served on the board since early this year.
The body was established in 2022 to represent victims and advise the Church.
The group's formal complaint against Woelki refers to alleged breaches of church law, not state law. "We ultimately hope that officials in Rome — and the pope himself — will view the cardinal's behavior as unacceptable and intervene," Siepmann told German broadcaster WDR.
In May, Cologne prosecutors announced that Woelki would not face perjury charges in connection with his sworn statements about when he learned of abuse allegations in his archdiocese. The archbishop had been under investigation for more than two years.
Woelki, who remains a cardinal and Archbishop of Cologne, took part in the conclave that chose Pope Leo XIV.
The small town of Bohmte near the city of Osnabrück in the northwestern state of Lower Saxony was the scene of a spectacular accident that left two people seriously injured, including a seven-year-old boy.
For as yet unknown reasons, local police reported, a car appears to have come off the road at high speed before colliding with a parked vehicle and crashing through a hedge.
It then landed on a trampoline, hitting and injuring the child who was playing on it, and bounced into the attic of a barn.
Read the full story about the car that crashed into a trampoline in northern Germany.
German Chancellor Friedrich Merz is set to meet top executives from major German firms on Monday in a bid to restore investor confidence and revive the struggling economy.
Representatives from around 30 companies — including Siemens and Deutsche Bank — are expected to attend the talks in Berlin, according to sources cited by DPA. More than a dozen firms listed on the DAX, Germany's main stock index, are among those invited.
The meeting will focus on the "Made for Germany" initiative, launched by Siemens and Deutsche Bank, which aims to strengthen the country's investment climate. Participating firms are expected to outline upcoming projects and signal readiness to commit fresh capital.
After two years of recession and amid a bleak outlook for 2025, Merz is urging companies to ramp up domestic investment. His government, which took office in May, has approved multi-billion-euro tax relief packages to stimulate growth.
A government spokesperson last week pointed to the recently passed €500 billion (over $580 billion) infrastructure and climate fund, saying public investment will lead the way — but private sector participation is essential.
Once Europe's growth engine, the German economy has been hit hard by inflation, energy price shocks, and mounting global competition in the wake of the pandemic and the war in Ukraine.
To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video
from the DW newsroom, overlooking the Rhine River in Bonn — the former capital of West Germany.
You join us as Chancellor Friedrich Merz gets ready to woo some of Germany's biggest business bosses to help get the sluggish economy back on its feet.
Top names like Siemens and Deutsche Bank are expected talks in Berlin, along with more than a dozen other DAX-listed giants.
About 30 firms are set to join what's being billed as a major push to rebuild investor confidence in the country's economic future.
Merz is under pressure after two back-to-back years of recession and little sign that 2025 will turn things around.
Follow along for the latest on what Germany is talking about on Monday, July 21.
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Int'l Business Times
an hour ago
- Int'l Business Times
Ukraine Curbs Anti-corruption Agencies, Sparking Rare Protests
Ukrainian President Volodymyr Zelensky signed a bill on Tuesday revoking the autonomy of two anti-corruption agencies, a proposal that has sparked rare street protests in Kyiv and alarm among the country's international backers. Critics say the legislation consolidates power in Zelensky's hands and will allow government meddling in high-profile graft cases. The European Union called the decision a "serious step back", while hundreds gathered in central Kyiv to oppose the measure -- a show of anti-government anger rarely seen since Russia's invasion of Ukraine. Lawmakers in Ukraine's parliament voted 263 to 13 to approve the bill, the majority of those in favour being from Zelensky's ruling party. Zelensky later signed the bill into law, a senior official told AFP. The bill would place the National Anti-Corruption Bureau of Ukraine (NABU) and Specialised Anti-Corruption Prosecutor's Office (SAPO) under the direct authority of the prosecutor general, who is appointed by the president. The NABU investigates instances of corruption among state institutions, while the SAPO prosecutes other corruption. The Anti-Corruption Action Center, an NGO, said the law would render the agencies meaningless as Zelensky's prosecutor general would "stop investigations into all of the president's friends". Protesters in the capital expressed anger at the measure. Some chanted "veto the law". "The bill is being rushed through," said 26-year-old game designer Anastasia. "It is clear that this is a targeted effort," she added. The protesters jeered and booed after Zelensky signed the bill into law, an AFP reporter saw. NABU began work in 2015, as Kyiv sought to bring the country closer to Europe after a 2014 pro-European revolution. Since its inception, the agency has uncovered widespread graft, including among figures in Zelensky's administration. Many opponents of the law voiced concern that Ukraine was reversing course after a decade of democratisation. Ukraine has taken a tough stance on corruption in recent years, both as a prerequisite to joining the EU and to reassure allies who have sent wartime aid, but investigators say it remains a serious problem. EU Enlargement Commissioner Marta Kos slammed the vote and said anti-graft institutions were "essential for Ukraine's EU path". "Seriously concerned over today's vote," Kos wrote on X. "The dismantling of key safeguards protecting NABU's independence is a serious step back." The chair of the Ukrainian parliament's anti-corruption committee, Anastasia Radina, said the bill ran counter to Ukraine's EU accession process. One European diplomat speaking on the condition of anonymity described the move as "unfortunate". "Is it a setback? Yes. Is this a point of non-return? No," the official told a small group of reporters, including AFP. Ukraine's former foreign minister Dmytro Kuleba, who resigned from the government in 2024, said the measures marked a "bad day for Ukraine". "Now the President has a choice -- to stand on the side of the people or not," he said. On Monday, law enforcement conducted large-scale raids at the NABU, detaining one employee on suspicion of spying for Russia. Transparency International's Ukraine office called the raids an "attempt by the authorities to undermine the independence of Ukraine's post-Revolution of Dignity anti-corruption institutions." Transparency International ranked Ukraine 105th out of 180 countries in its "corruption perceptions index" in 2024, up from 144 in 2013.


DW
6 hours ago
- DW
Ukraine: EU concerned about Kyiv's anti-corruption bodies – DW – 07/22/2025
Ukrainian lawmakers voted to strip two anti-corruption bodies of their independence. This could impede Ukraine's progress toward the EU, which has already expressed concern about the move. DW has the European Union's enlargement commissioner criticized a vote in the Ukrainian parliament to strip two anti-corruption bodies of their independence. Marta Kos stressed that the independence of he National Anti-Corruption Bureau of Ukraine (NABU) and an anti-graft prosecutor's office were "essential for Ukraine's EU path." Meanwhile, Ukraine's Prime Minister Yulia Svyrydenko said in an interview that she is likely to discuss a fresh loan program with the IMF next month. Ukraine and Russia are scheduled to hold the third round of peace talks in Istanbul on European Union's enlargement commissioner criticised a vote in the Ukrainian parliament to strip two anti-corruption bodies of independence. "Seriously concerned over today's vote in the Rada. The dismantling of key safeguards protecting NABU's independence is a serious step back," Marta Kos wrote on X, in reference to the National Anti-Corruption Bureau of Ukraine. Kos stressed that the independence of the agency and an anti-graft prosecutor's office were "essential for Ukraine's EU path." Kyiv has been adamant to accelerate its membership in the bloc, especially since the 2022 Russian invasion. Ukraine's lawmakers voted in favor of amendments that would remove the independence of two anti-corruption bodies in the country. The National Anti-Corruption Bureau of Ukraine (NABU) is the entity investigating corruption allegations within state institutions. The Specialized Anti-Corruption Prosecutor's Office (SAPO) prosecutes corruption cases. Both NABU and SAPO were placed under the direct supervision of the Prosecutor General, who is appointed by the president. This comes a day after a NABU employee was arrested on suspicion of spying for Russia. The move triggered criticism both at home and internationally, with the EU saying it was "concerned" with the decision. Ukrainian NGO The Anti-Corruption Action Center said the amendments made the two agencies meaningless, adding the country's Prosecutor General "will stop investigations into" President Volodymyr Zelenskyy's "friends." France's top diplomat, Foreign Minister Jean-Noel Barrot, visited the Ukrainian border region of Kharkiv in the northeastern part of the country on Tuesday. While walking through Kharkiv's city center, Barrot witnessed the current situation in the city, which is regularly being targeted by Russia, whose forces are some 30 kilometers away. Speaking during his visit, Barrot accused Russia of "deliberately" targeting civilians and residential areas, in a bid to "undermine Ukrainian morale." 1.4 million people lived in Kharkiv before Russia's full-scale invasion into Ukraine in 2022. As Russia steps up its attacks on Ukraine, the Kremlin is once again seeking help from North Korea. South Korean intelligence reports that the country has already sent Russia 28,000 containers filled with weapons and artillery shells. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Ukraine's delegation for the peace talks with Russia will be headed by the country's ex-Defense Minister and current secretary of the security council Rustem Umerov, President Volodymyr Zelensky said. The talks are scheduled to take place on Wednesday in Istanbul, in the same venue where previous talks between the two sides took place, with the Kremlin saying that there is no reason to expect a "miraculous breakthrough" in the talks. This comes after US President Donald Trump's threat to impose "severe" sanctions on Russia should a ceasefire agreement with Ukraine not be reached in 50 days. A 10-year-old boy was killed in Russian airstrikes on Ukraine, the authorities in the city of Kramatorsk say. According to city mayor Alexander Goncharenko, guided glide bombs launched by Russia hit a residential building in Kramatorsk, located in eastern Ukraine. The city is located in the area of Donetsk that remains under Ukrainian control three years after Russia's full-scale invasion of Ukraine. Glide bombs have a range of up to 40 kilometers (25 miles), and their use by the Russian army is made possible by the front moving closer and closer to Kramatorsk. Ukraine's new Prime Minister Yulia Svyrydenko said she will likely seek fresh financing from the International Monetary Fund (IMF) to cushion the country's fiscal needs in its defense against Russia's war, according to a report by Bloomberg. The report outlined that global donors have so far only earmarked half of the estimated $75 billion (€64.2 billion) budget that the war-strained country requires over the next two years. With the IMF's roughly $16 billion loan program set to expire in 2027, new discussions will likely be held at a lender's review planned for August, especially since the end to the war is not in sight, she told the media house. Meanwhile, Ukraine's Defense Minister took to messaging app Telegram, saying the country will need at least $120 billion for defense spending next year and that negotiations were ongoing with NATO and the EU over $60 billion in funding from partners. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video On Monday, the UK and Germany led a virtual meeting on how to help Ukraine acquire the weapons it needs to defend itself against Russian aggression. German Defense Minister Boris Pistorius said he will "contribute to providing" five Patriot missile defense systems to Ukraine, DW's Teri Schultz reported from Brussels. This includes two systems Berlin had previously discussed, with an additional one expected to be financed by Norway. It is not clear whether Germany would pay for the remaining two defense systems itself, or if it will seek contributions from other NATO members. Meanwhile, Ukraine's former prime minister and newly appointed Defense Minister Denys Shmyhal, who was also part of the meeting, said Kyiv needs more than $6 billion (€5.1 billion) worth of additional military spending to increase its own weapons production. The UK imposed new sanctions on Russia's so-called "shadow fleet" which will target 135 oil tankers and two Russian companies involved in circumventing oil sanctions on Moscow. Additionally, Ukrainian President Volodymyr Zelenskyy said Ukraine and Russia will hold another round of talks on Wednesday. Two previous rounds held in Istanbul failed to yield any meaningful progress on a ceasefire. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Welcome to DW's coverage of the latest developments in Russia's war in Ukraine. Both Ukraine and Russia continue to exchange drones and missiles, aiming at each other's capital cities. Overnight Monday, Russia unleashed one of its largest aerial assaults on Kyiv, just hours before the UK and Germany chaired a high-level meeting to discuss the US' plans for NATO allies to provide Ukraine with weapons it needs. Stay tuned for the latest news and analysis from the ongoing war.


DW
7 hours ago
- DW
Ukraine: EU concerned over Kyiv's anti-corruption bodies – DW – 07/22/2025
Ukrainian lawmakers voted to strip two anti-corruption bodies of their independence. This could impede Ukraine's progress toward the EU, which has already expressed concern about the move. DW has the European Union's enlargement commissioner criticized a vote in the Ukrainian parliament to strip two anti-corruption bodies of their independence. Marta Kos stressed that the independence of he National Anti-Corruption Bureau of Ukraine (NABU) and an anti-graft prosecutor's office were "essential for Ukraine's EU path." Meanwhile, Ukraine's Prime Minister Yulia Svyrydenko said in an interview that she is likely to discuss a fresh loan program with the IMF next month. Ukraine and Russia are scheduled to hold the third round of peace talks in Istanbul on European Union's enlargement commissioner criticised a vote in the Ukrainian parliament to strip two anti-corruption bodies of independence. "Seriously concerned over today's vote in the Rada. The dismantling of key safeguards protecting NABU's independence is a serious step back," Marta Kos wrote on X, in reference to the National Anti-Corruption Bureau of Ukraine. Kos stressed that the independence of the agency and an anti-graft prosecutor's office were "essential for Ukraine's EU path." Kyiv has been adamant to accelerate its membership in the bloc, especially since the 2022 Russian invasion. Ukraine's lawmakers voted in favor of amendments that would remove the independence of two anti-corruption bodies in the country. The National Anti-Corruption Bureau of Ukraine (NABU) is the entity investigating corruption allegations within state institutions. The Specialized Anti-Corruption Prosecutor's Office (SAPO) prosecutes corruption cases. Both NABU and SAPO were placed under the direct supervision of the Prosecutor General, who is appointed by the president. This comes a day after a NABU employee was arrested on suspicion of spying for Russia. The move triggered criticism both at home and internationally, with the EU saying it was "concerned" with the decision. Ukrainian NGO The Anti-Corruption Action Center said the amendments made the two agencies meaningless, adding the country's Prosecutor General "will stop investigations into" President Volodymyr Zelenskyy's "friends." France's top diplomat, Foreign Minister Jean-Noel Barrot, visited the Ukrainian border region of Kharkiv in the northeastern part of the country on Tuesday. While walking through Kharkiv's city center, Barrot witnessed the current situation in the city, which is regularly being targeted by Russia, whose forces are some 30 kilometers away. Speaking during his visit, Barrot accused Russia of "deliberately" targeting civilians and residential areas, in a bid to "undermine Ukrainian morale." 1.4 million people lived in Kharkiv before Russia's full-scale invasion into Ukraine in 2022. As Russia steps up its attacks on Ukraine, the Kremlin is once again seeking help from North Korea. South Korean intelligence reports that the country has already sent Russia 28,000 containers filled with weapons and artillery shells. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Ukraine's delegation for the peace talks with Russia will be headed by the country's ex-Defense Minister and current secretary of the security council Rustem Umerov, President Volodymyr Zelensky said. The talks are scheduled to take place on Wednesday in Istanbul, in the same venue where previous talks between the two sides took place, with the Kremlin saying that there is no reason to expect a "miraculous breakthrough" in the talks. This comes after US President Donald Trump's threat to impose "severe" sanctions on Russia should a ceasefire agreement with Ukraine not be reached in 50 days. A 10-year-old boy was killed in Russian airstrikes on Ukraine, the authorities in the city of Kramatorsk say. According to city mayor Alexander Goncharenko, guided glide bombs launched by Russia hit a residential building in Kramatorsk, located in eastern Ukraine. The city is located in the area of Donetsk that remains under Ukrainian control three years after Russia's full-scale invasion of Ukraine. Glide bombs have a range of up to 40 kilometers (25 miles), and their use by the Russian army is made possible by the front moving closer and closer to Kramatorsk. Ukraine's new Prime Minister Yulia Svyrydenko said she will likely seek fresh financing from the International Monetary Fund (IMF) to cushion the country's fiscal needs in its defense against Russia's war, according to a report by Bloomberg. The report outlined that global donors have so far only earmarked half of the estimated $75 billion (€64.2 billion) budget that the war-strained country requires over the next two years. With the IMF's roughly $16 billion loan program set to expire in 2027, new discussions will likely be held at a lender's review planned for August, especially since the end to the war is not in sight, she told the media house. Meanwhile, Ukraine's Defense Minister took to messaging app Telegram, saying the country will need at least $120 billion for defense spending next year and that negotiations were ongoing with NATO and the EU over $60 billion in funding from partners. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video On Monday, the UK and Germany led a virtual meeting on how to help Ukraine acquire the weapons it needs to defend itself against Russian aggression. German Defense Minister Boris Pistorius said he will "contribute to providing" five Patriot missile defense systems to Ukraine, DW's Teri Schultz reported from Brussels. This includes two systems Berlin had previously discussed, with an additional one expected to be financed by Norway. It is not clear whether Germany would pay for the remaining two defense systems itself, or if it will seek contributions from other NATO members. Meanwhile, Ukraine's former prime minister and newly appointed Defense Minister Denys Shmyhal, who was also part of the meeting, said Kyiv needs more than $6 billion (€5.1 billion) worth of additional military spending to increase its own weapons production. The UK imposed new sanctions on Russia's so-called "shadow fleet" which will target 135 oil tankers and two Russian companies involved in circumventing oil sanctions on Moscow. Additionally, Ukrainian President Volodymyr Zelenskyy said Ukraine and Russia will hold another round of talks on Wednesday. Two previous rounds held in Istanbul failed to yield any meaningful progress on a ceasefire. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Welcome to DW's coverage of the latest developments in Russia's war in Ukraine. Both Ukraine and Russia continue to exchange drones and missiles, aiming at each other's capital cities. Overnight Monday, Russia unleashed one of its largest aerial assaults on Kyiv, just hours before the UK and Germany chaired a high-level meeting to discuss the US' plans for NATO allies to provide Ukraine with weapons it needs. Stay tuned for the latest news and analysis from the ongoing war.