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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Int'l Business Times
8 hours ago
- Int'l Business Times
Tens Of Thousands In Rome For Vatican's Jubilee Of Youth
Tens of thousands of young Catholics from all over the world gathered on Tuesday in Rome for a week of pilgrimage during the Vatican's Jubilee of Youth -- an event that takes place every 25 years. The mass gathering is taking place just over two months after Leo XIV became the head of the Catholic Church and the first American pope. Since Monday, groups of pilgrims -- chanting and draped in flags of their countries -- have flooded the streets of Italy's capital and the corners of the Vatican City. An opening mass is scheduled at St Peter's Basilica later on Tuesday at 1700 GMT. The Vatican had last week said it expected some half a million people from more than 150 countries to take part in the youth events -- that are dedicated to faith and culture. The week will culminate with a giant mass led by Pope Leo on Sunday. The Jubilee of Youth is aimed at young people aged between 18 and 35. Pilgrims AFP spoke to said topics they most wanted to discuss at the events were wars, climate change, social inequalities and the dangers linked to AI. "The most important topic for me is war. Everyone is talking about it, thinking about it, and we want to know what the pope thinks about it and what he expects from us," 25-year-old Tiago Santos, a pilgrim from Portugal, told AFP. The event is taking place as tens of thousands have been killed in Gaza after almost two years of war with Israel and as UN groups warn of spreading starvation in the blocked territory. In Ukraine, Russia's almost 3.5-year invasion has killed thousands, with Moscow continuing deadly attacks despite Western pressure to end its campaign. For Teophanie Nasta, a 26-year-old Lebanese pilgrim who left her country for the first time, said that -- despite the conflicts in the Middle East -- she was filled with "faith in humanity by seeing so many young people" gathered for the church. In an unprecedented move, the Vatican decided to dedicated a series of events to Catholic influencers -- a sign of growing importance of social media for the church. Speaking to them on Tuesday morning, Pope Leo warned against the dangers of undermining "human dignity" in the AI era.
DW
9 hours ago
- DW
Ukraine: Zelenskyy to allow over-60s enlist in military – DW – 07/29/2025
Ukrainian officials say a Russian attack on a prison near Zaporizhzhia has killed 16 inmates, with Kyiv calling the strike a war crime. More were reported killed in other parts of Ukraine and Russia. Follow DW for more. Ukrainian President Volodymyr Zelenskyy has signed a law allowing people over the age of 60 to voluntarily join the armed forces, which have struggled to find recruits since the Russian invasion started in February 2022. Meanwhile, a Russian attack has killed at least 16 inmates at a prison near Zaporizhzhia, Ukrainian officials have said, with at least 35 more injured in the overnight bombing. Eight strikes were reported as likely involving glide bombs, which also damaged nearby homes and left buildings inside the complex in ruins. The Ukrainian president's chief of staff condemned the attack as a war authorities said a jailed Colombian man started two fires in Poland on behalf of Russia last year. Poland has a close political and military relationship with Ukraine and strained relations with Russia. The 27-year-old man stands accused of setting fire to two material warehouses in Warsaw and Radom in 2024, a spokesman for the Interior Ministry in Warsaw said. The fires were quickly extinguished, and no one was injured in either case. The Colombian man had previously been trained by a person with links to Russian secret services, according to the Interior Ministry. The public prosecutor's office is now investigating the man for working for a foreign secret service and for terrorism. Ukrainian President Volodymyr Zelenskyy signed a bill on Tuesday allowing citizens over 60 to voluntarily join the military while the country is under martial law. The new law allows people over 60 to sign one-year military service contracts if they pass a medical exam and receive approval from a unit commander. Each recruit will face a two-month trial period, during which the contract can be terminated early if they are found unfit. While the law sets no maximum age for service, all contracts will automatically end when martial law concludes. This measure expands Ukraine's recruitment pool by enabling older volunteers to serve in non-combat and specialized roles in Ukraine's ongoing manpower shortages. The Kremlin has acknowledged a new ultimatum from US President Donald Trump, who has shortened his deadline for Moscow to move toward a ceasefire in Ukraine or face additional sanctions. "We have taken note of President Trump's statement yesterday. The special military operation continues," Kremlin spokesman Dmitry Peskov said Tuesday during a press call, using Moscow's official term for the war. He added, "We remain committed to a peace process to resolve the conflict around Ukraine and to ensure our interests in the course of this settlement." Trump, speaking Monday in Britain, gave Russia 10 to 12 days to show progress toward ending the war, citing frustration with the lack of results. "There's no reason in waiting... We just don't see any progress being made," he said. The revised timeline accelerates a warning Trump issued on July 14, when he threatened new sanctions on Russia and countries purchasing its exports within 50 days — a deadline that would have expired in early September. Trump, who has spoken with President Vladimir Putin multiple times since returning to the White House in January, also said he is "not so interested in talking anymore." Missile and drone attacks have killed at least four people and wounded several others in Ukraine's central Dnipropetrovsk region, regional officials said Tuesday. A strike on the city of Kamyanske killed two people, injured five, and damaged a hospital, according to regional military head Serhiy Lysak. Another person was killed and several wounded in an attack on the Synelnykivsky district. In a separate strike on Velykomykhaylivska late Monday, a 75-year-old woman was killed and a 68-year-old man injured. A private home was also damaged, Lysak said. Russian shelling has killed five civilians and wounded three others in Ukraine's northeastern Kharkiv region, local police said Tuesday. "According to preliminary data, five civilians were killed and three more were wounded to varying degrees as a result of the shelling," police said in a Telegram post, noting that Russian forces likely used a multiple launch rocket system. The regional capital, also called Kharkiv, is Ukraine's second-largest city and serves as a major economic and cultural hub. Russia has hit Kharkiv with multiple strikes in recent months, including one that damaged a maternity ward in July. Ukrainian President Volodymyr Zelenskyy has said that a Russian airstrike on a prison near Zaporizhzhia was "deliberate" and not accidental, calling for increased international pressure on Moscow to end its attacks. "It was a deliberate strike, intentional, not accidental," Zelenskyy said Tuesday in a social media statement. "The Russians could not have been unaware that they were targeting civilians in that facility." He added that Russia "must be compelled to stop the killing and make peace." A Ukrainian drone strike has killed one person in Russia's Rostov region, the area's acting governor, Yuri Sliusar, said Tuesday. Sliusar reported that the victim died after a car was hit on Ostrovsky Street. He said multiple locations were targeted in the overnight attack, including Salsk, Kamensk-Shakhtinsky, Volgodonsk, Bokovsky, Tarasovsky, and Slyusar. Debris also struck the Salsk train station, damaging both a freight and a passenger train. Passengers were evacuated, and no additional injuries were reported. Ukrainian officials say a Russian airstrike has killed at least 16 prisoners at a detention facility near the front-line city of Zaporizhzhia. Another 35 inmates were injured in the overnight attack, which also damaged multiple buildings within the complex, according to regional governor Ivan Fedorov. Federov said the area was struck eight times overnight, likely by Russian glide bombs, and nearby homes were also hit. The wounded were receiving medical care, he added. Glide bombs, launched from Russian aircraft over occupied territory, strike Ukrainian targets with little warning. Their speed and range make them difficult for Ukraine's air defenses to intercept while keeping the launch aircraft out of range. Ukrainian President Volodymyr Zelenskiy's chief of staff, Andriy Yermak, condemned the strikes as "another war crime" committed by Russian President Vladimir Putin's Kremlin. "Putin's regime, which also issues threats against the United States through some of its mouthpieces, must face economic and military blows that strip it of the capacity to wage war," Yermak said on X. 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 the Russian war on Ukraine. You join us after Russia carried out eight strikes on the Zaporizhzhia region, hitting a prison where at least 16 people were killed. The governor of Russia's Rostov region also said one person had been killed in a Ukrainian drone strike there. Stay with us for the latest news and analysis from the ongoing war.
DW
10 hours ago
- DW
Afghans seeking German visas in Pakistan fear deportation – DW – 07/29/2025
Thousands of Afghans approved for resettlement in Germany remain stranded in Pakistan, leaving them in limbo. Some report being harassed by Pakistani authorities. In a small, rented room in Pakistan's capital Islamabad, ZK (not her real name), a 40-year-old Afghan woman, lives her days like a prisoner. She spends most of her time cooking, singing, dancing and watching the news. ZK, an Afghan journalist from Badakhshan province, was one of the first women to work as a news anchor in Afghanistan. In doing so, she broke barriers in the war-ravaged country's archconservative Islamic society. After the Taliban seized power in Afghanistan in August 2021, they began rolling back progress achieved in the previous two decades when it came to women's rights. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video ZK fled to Pakistan in 2023 after she was accepted into a German humanitarian admission program designed for Afghans at risk under the Islamic fundamentalist group's regime. It was originally meant to be a short stay before she and her children were relocated to Germany, but has now stretched to over two years. This has left her uncertain about when they will be able to finally make the move to the European country. ZK said she had faced repeated harassment by Pakistani authorities, as well as detention and deportation back to Taliban-controlled Afghanistan in February. "I have been living in Pakistan for two years, waiting for my German visa, but delays in the process have hindered my journey. In February, I was arrested by Islamabad police and deported back to Afghanistan with my two sons," ZK told DW. "Thanks to my journalist friends, I managed to obtain a visa and return to Pakistan. At the time of my arrest, my daughter was hiding in fear of the police and was left alone in Pakistan," she added. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Following the Taliban takeover in Afghanistan, the German government promised to make it possible for people whose safety was in danger to come to Germany with their families. These humanitarian admission programs primarily intended to help Afghans who had worked for the German military, as well as people actively involved in cultural, economic, scientific and academic fields, and those who had worked for the former Afghan government. According to figures from Germany's Foreign Ministry, some 36,300 Afghans have so far come to Germany under the relevant schemes, including almost 20,800 locally employed staff. But around 2,400 people approved for admission are still waiting in Islamabad in Pakistan, as there is no longer a German diplomatic mission in Afghanistan itself. In Pakistan, they are housed in guest apartments belonging to the German government while they undertake seemingly interminable visa applications and security checks. Even though many of them have received firm promises from German authorities that they can come to Germany, they now face an uncertain future as the current German government, under Chancellor Friedrich Merz, has pledged a tougher stance on asylum and irregular migration. As a part of that push, Berlin has vowed to halt refugee admission programs, and is reviewing whether existing commitments can be revoked. The situation has left the Afghans in Pakistan awaiting resettlement in Germany in limbo. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Meanwhile, Pakistan, which for decades had served as refuge for Afghans fleeing from wars or oppressive regimes, has mounted a series of expulsion and deportation drives targeting Afghans since late 2023. The deportation offensive has targeted not only undocumented Afghans but also those with valid papers or awaiting resettlement in third countries such as Germany and the US. Aziz Gull, a 25-year-old Afghan rights activist in Islamabad, expressed her despair to DW, saying, "Our hopes are shattered, and we are homeless. No country is accepting us. My file has been sent to the German Ministry of Foreign Affairs, but I have not received any confirmation yet. My case at the German Foreign Office is currently on hold, leaving my fate uncertain." Gull, originally from Maidan Wardak province in Afghanistan, arrived in Pakistan in July 2024 and applied for a humanitarian visa through a German NGO. She added, "We face the threat of police harassment, forced deportation from Pakistan, and the Taliban will kill me because of my activism in Afghanistan." Several Afghans DW spoke to said they had been harassed by Pakistani authorities, and expressed fears of being deported to Afghanistan as a result of delayed resettlement in Germany. But a Pakistani Foreign Ministry official, who asked not to be named, denied allegations of harassment. The official instead blamed Germany for "not acting quickly to address the situation" and process the visa applications of the stranded Afghans. "The pressure should be on Germany, not us," the official said, adding: "The police are currently checking the status of undocumented Afghans and deporting those without visas or lacking legal documents to remain in Pakistan." To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Umer Gilani, a lawyer in Islamabad providing legal services to Afghan refugees, described the situation of Afghans stranded in Pakistan as "dire." "They have been repeatedly harassed by the police and seeking constant extensions of their Pakistan visas which means living in extreme anxiety," he added. Even if you leave the costs aside, Gilani pointed out, "there is no shortage of people whose visas expired and got summarily deported back to Afghanistan, putting their lives and liberty at risk." Gull, the Afghan rights activist in Islamabad, said she was "deeply concerned about the possibility of being forcibly returned to Afghanistan." Over the past few years, the Taliban have banished women and girls from almost all areas of public life. Girls have been barred from attending school beyond sixth grade, and women have been prohibited from local jobs and nongovernmental organizations. The Taliban have ordered the closure of beauty salons and barred women from going to gyms and parks. Women also can't go out without a male guardian. Outside the home, women and girls are required to hide not only their faces and bodies but also their voices. "Going back would likely result in imprisonment or even execution for us," said Gull. ZK, the female journalist, shares a similar view. "Returning to Afghanistan means death. The Taliban had already killed my husband."
