
Companies pledge to invest over $700 billion in Germany over the next 3 years
The economy has shrunk for the past two years and is expected to stagnate this year. Chancellor Friedrich Merz's administration has made revitalizing it a top priority since it took office May 6.
It has launched a program to encourage investment and set up a 500 billion euro fund to pour money into Germany's creaking infrastructure over the next 12 years. It is promising to cut red tape and speed up the country's lagging digitization.
On Monday, Merz welcomed representatives of an initiative titled 'Made for Germany' to the chancellery to send a signal of confidence from and to private investors. The group currently includes 61 companies from across the economy, among them industrial conglomerate Siemens and financial giant Deutsche Bank.
'The investments by the initiative are a very powerful signal that we are now experiencing a shift in sentiment and consolidating it," Merz said. 'The message ... is very clear: Germany is back. It's worth investing in Germany again. We are not a location of the past, but a location of the present and above all the future.'
He stressed that private investment is crucial to encouraging growth.
The overall figure pledged Monday includes at least some already planned investments. Merz said the plans include investments in new facilities and in modernizing infrastructure, in research and development.
Deutsche Bank CEO Christian Sewing praised the new government as being 'determined to end the reform backlog that has slowed us down for too long.' But he said that it still needs to do more, and the companies 'encouraged' the government 'to continue the course of reform.'

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Mint
29 minutes ago
- Mint
Trump dials Thailand, Cambodia to end clashes, says both ‘ready to rejoin US trading table' after ceasefire
Trump claimed that Thailand and Cambodia desire peace amid the ongoing border clashes and are eager to continue trade with the United States. In a post on his official Truth Social handle, Trump wrote, 'I just had a very good call with the Prime Minister of Cambodia, and informed him of my discussions with Thailand, and its Acting Prime Minister. Both Parties are looking for an immediate Ceasefire and Peace. They are also looking to get back to the 'Trading Table' with the United States, which we think is inappropriate to do until such time as the fighting STOPS." He added, "They have agreed to immediately meet and quickly work out a Ceasefire and, ultimately, PEACE! It was an honour to deal with both Countries. They have a long and storied History and Culture. They will hopefully get along for many years to come. When all is done, and Peace is at hand, I look forward to concluding our Trading Agreements with both!' Thailand and Cambodia's ongoing border dispute intensified as they exchanged heavy artillery fire for the third consecutive day on Saturday. The fighting resulted in 33 deaths and displaced over 168,000 people from their homes along the border, reported AP. Several artillery and small arms fire were reported near several border villages, expanding the conflict area that started on Thursday after a land mine explosion along the border injured five Thai soldiers. Cambodian and Thai officials accused each other of initiating the clashes. In response, both nations recalled their ambassadors, and Thailand shut its border with Cambodia. According to the Cambodian authorities, 12 new deaths were reported on Saturday, the total death toll stood at 13, while The Thai military announced that a soldier was killed, increasing the death toll to 20, mostly civilians. Cambodia's Information Minister Neth Pheaktra stated on Saturday that the clashes have led to the evacuation of 10,865 Cambodian families, totalling 37,635 individuals, from three border provinces to safer areas. Meanwhile, Thai authorities reported that over 131,000 people have left their border villages. The 800-kilometer (500-mile) border between Thailand and Cambodia has been contested for decades, though previous conflicts have been brief. The most recent tensions arose in May when a confrontation resulted in the death of a Cambodian soldier, leading to a diplomatic dispute and stirring unrest within Thailand's politics.


Hindustan Times
an hour ago
- Hindustan Times
'Very much' remind me of India-Pak conflict: Trump on Thai-Cambodia tensions
As he announced he was seeking to mediate a ceasefire between Thailand and Cambodia, US President Donald Trump on Saturday said the intensified tensions between the bordering countries "very much" reminded him of the India-Pakistan conflict. US President Donald Trump has sought to broker a ceasefire between Thailand and Cambodia.(AP) In a Truth Social post, Trump said efforts were underway to ensure Thailand and Cambodia, and that he got in touch with leaders of both countries over separate phone calls. "I am trying to simplify a complex situation! Many people are being killed in this War, but it very much reminds me of the Conflict between Pakistan and India, which was brought to a successful halt," a part of Trump's post made after his conversation with the Prime Minister of Cambodia. India and Pakistan recently saw a military conflict following the launch of Operation Sindoor on May 7, a move targeted to destroy terrorist infrastructure in Pakistan and Pakistan-occupied Kashmir. The operation was launched by India days after a deadly terrorist attack in Jammu and Kashmir's Pahalgam claimed 26 lives, all civilians. A military conflict ensued between the bordering countries after Pakistan's targeting of Army bases in India, and a ceasefire was announced on May 10. Ever since, Donald Trump has claimed multiple times that brokered the truce, linking the move to a trade. While India has rejected his claim asserting the ceasefire was agreed upon bilaterally, Pakistan credits Trump with the de-escalation of tensions between the bordering nations. Trump's recent remark on the India-Pakistan conflict came as he spoke about the Thailand-Cambodia clashes. In subsequent posts, Trump said he had spoke to leaders of both neighbouring countries and they want immediate ceasefire. "After speaking to both Parties, Ceasefire, Peace, and Prosperity seems to be a natural. We will soon see!" a part of his post read. Trump also said both countries wanted to be on the 'trading table' with the US, but said he would act on it only after peace is restored.


News18
2 hours ago
- News18
Thailand, Cambodia trade fresh attacks, accusations as allies call for ceasefire
Agency: PTI Last Updated: Surin(Thailand), Jul 26 (AP) Thailand and Cambodia traded accusations of fresh attacks Saturday as deadly border clashes entered a third day and international pressure mounted for a ceasefire. The fighting has killed at least 33 people and displaced more than 168,000. Artillery and small arms fire were reported near several border villages, expanding the area of the fighting that flared Thursday after a land mine explosion along the border wounded five Thai soldiers. Cambodian and Thai officials blamed each other for starting the clashes. Both countries recalled their ambassadors and Thailand closed its border crossings with Cambodia. Cambodian authorities reported 12 new deaths on Saturday, bringing its toll to 13, while the Thai military said a soldier was killed, raising the number of dead to 20, mostly civilians. Cambodia's Information Minister Neth Pheaktra said Saturday that the clashes have forced 10,865 Cambodian families, or 37,635 people, in three border provinces to evacuate to safe locations. Thai officials said more than 131,000 people have fled their border villages. The 800-kilometer frontier between Thailand and Cambodia has been disputed for decades, but past confrontations have been limited and brief. The latest tensions flared in May when a Cambodian soldier was killed in a confrontation that created a diplomatic rift and roiled Thailand's domestic politics. Officials from the two countries did not immediately confirm any plan to meet. Trump's comments followed increasing pressure on the Association of Southeast Asian Nations to defuse the tensions between its two members. During an emergency meeting on Friday, members of the UN Security Council called for a de-escalation and urged ASEAN to mediate a peaceful solution. The council didn't issue a resolution on the crisis, but Thai Foreign Minister Maris Sangiampongsa said Saturday that the group's 15 members called for restraint, an end to hostilities and a peaceful resolution. The leader of Malaysia, ASEAN's current chair, has said Thailand and Cambodia are open to a ceasefire proposal. Malaysian media said Prime Minister Anwar Ibrahim has tasked the country's foreign minister with mediating peace talks, but no concrete plans have been announced. Maris said earlier Saturday that his country has agreed in principle to ASEAN's ceasefire proposal, but insisted Cambodia must first cease hostilities. He said Thailand continues to engage with Malaysia on the matter. 'Thailand reaffirms its commitment to resolving the conflict peacefully and in accordance with international law," he said, urging Cambodia to 'return to the negotiating table with sincerity and in good faith." Sides trade accusations and deny responsibility Cambodia's Defence Ministry condemned what it called an expanded Thai offensive early Saturday after five heavy artillery shells were fired into Pursat province. It said the attack was an 'unprovoked and premeditated act of aggression." Ministry spokesperson Lt Gen Maly Socheata said tensions flared in the coastal province of Koh Kong and expressed concern about the possibility of confrontations at sea. Maly Socheata said seven Cambodian civilians and five soldiers have been killed in two days of fighting. Another man was reportedly killed when a pagoda he was hiding under was hit by Thai rockets. The Thai army has denied targeting Cambodian civilians and accuses Phnom Penh of using 'human shields" by positioning their weapons near residential areas. In a statement Saturday, Thailand's navy accused Cambodian forces of initiating a new attack in the province of Trat, which shares a border with Koh Kong, saying Thai forces responded swiftly and 'successfully pushed back the Cambodian incursion at three key points." The navy warned that 'aggression will not be tolerated." Thai authorities also alleged several Cambodian artillery shells damaged homes and property in neighbouring Laos. Lao officials have not publicly responded to the claim. Call to protect civilians amid claim of cluster bomb use Human Rights Watch urged the UN Security Council and other nations to press Thailand and Cambodia to abide by international humanitarian law and take all steps to protect civilians. Children have been harmed and Thailand has closed at least 852 schools and seven hospitals for safety reasons, the rights group said in a statement Saturday. Both sides have fired rockets and artillery, and after initially denying Cambodian claims that internationally prohibited cluster munitions were being used, a Thai military spokesperson said Friday that such weapons can be utilized 'when necessary" to achieve military objectives. Human Rights Watch condemned the use of cluster munitions in populated areas. Neither Thailand nor Cambodia is party to the Convention on Cluster Munitions, which bans the use of the weapon. Thai authorities used them during a border dispute with Cambodia in February 2011 that left 20 people dead. 'Neither Thailand nor Cambodia appears to be paying attention to international humanitarian law at great expense to civilians," John Sifton, Asia advocacy director at Human Rights Watch, said in a statement. 'Diplomatic efforts underway need to prioritize protecting civilians and civilian infrastructure." Thai officials acknowledged it has used F-16 jets and drones to launch airstrikes. (AP) RD RD view comments First Published: News agency-feeds Thailand, Cambodia trade fresh attacks, accusations as allies call for ceasefire Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.