trade
Exports of German wines rose 9% on the year in the first quarter to €92 million ($99 million) partly on the back of strong demand from China, the German Wine Institute reported on Thursday. The increase measured by quantity also came in at 9%, with 283,000 hectolitres of German wine being sold abroad. Exports to China rose 47% by value to €5.4 million and 49% by quantity to 10,000 hectolitres. Double-digit increases were also recorded for Denmark, Japan, the Netherlands and Poland. Turnover over the whole of 2023 rose by 4% to €384 million compared with the previous year, largely as a result o...
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Sports and outdoor gear retailers in Germany have enjoyed a decade-long boom in business, according to official data. Sales in sports and camping stores increased by 41.5% from 2013 to 2023, even after adjusting for inflation, a report from Germany's Federal Statistical Office said on Wednesday. That significantly outpaced sales growth for the physical retail sector as a whole, where sales grew by 9.1% over the same period. Almost half of the sports equipment imported into Germany last year came from China, followed at a considerable distance by the Czech Republic (5.5%) and the Unite States (...
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Trade union verdi has called on workers at the northern German port of Hamburg to go on strike on Friday, after ongoing negotiations in a wage dispute failed to yield results. Verdi is in talks with the association of Central Association of German Seaport Operators on better wages for some 6,000 employees at the country's largest seaport, but a second round of negotiations on Thursday did not produce any results, according to the union. "The offer presented by the employers is completely inadequate," said verdi negotiator Maren Ulbrich. In order to ramp up pressure, the union called on dockwor...
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A battle sabre believed to have been commissioned by Napoleon Bonaparte and kept in Germany for over 200 years is to be auctioned in Paris. The richly decorated steel and gold sabre, which will go under the hammer at the Drouot auction house on Thursday, is estimated to be worth between €500,000 and €800,000 ($540,000-$870,000). According to the auction house, the sabre was probably commissioned by Napoleon for his brother-in-law, Joachim Murat, a marshal and grand admiral. The Napoleonic-era sabre, with its special decoration and gold fittings, is considered very rare. Only one other similar ...
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The influential sister of North Korean dictator Kim Jong Un, Kim Yo Jong, has rejected accusations that her country is engaged in prohibited arms trading with Russia. As reported by state media on Friday, the high-ranking official of the ruling Workers' Party described it as an absurd rumour that was "interwoven with a distorted view and fiction." "We have no intention of exporting our military technical capabilities to any country or releasing them," Kim said. North Korea, which is largely isolated due to its nuclear weapons programme, is internationally accused of supplying weapons and ammun...
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Afghanistan's Taliban have stepped up a major campaign against the cultivation of opium poppies despite widespread protests. In the north-eastern province of Badakhshan, 1,000 hectares of cultivated land have been destroyed since the beginning of the operation, the Islamists' Ministry of Defence reported on X on Thursday. The operation will continue until the poppy-growing land is completely destroyed, it added. According to a UN report from November, the cultivation of opium has decreased by 95% since the Taliban issued a ban in 2022. In a country plagued by war and poverty, the cultivation o...
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Australia has called on the European Union to delay new deforestation regulation due to concerns regarding its impact on trade, Agriculture Minister Murray Watt said on Tuesday. The new EU regulation, set to come into force on December 30, would see a ban on the import of products such as coffee, wood and beef if forests have been cleared for their production after 2020. The aim of the import ban is to significantly reduce deforestation of rainforests worldwide, including in the Amazon region in South America. Watt said he had contacted the EU commissioner for the environment to outline Austra...
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US Secretary of State Antony Blinken addressed points of difference with China regarding unfair trading practices in talks on Thursday with Shanghai Party Secretary Chen Jining, US press reports said. Blinken pressed "Chinese officials on a wide range of issues, including its support for Russia, cheap Chinese exports that US officials say threaten American jobs, and Chinese ships' aggressive manoeuvres in the South China Sea," the New York Times reported, citing a senior State Department official. The Chinese Foreign Ministry emphasized that China had always implemented economic and trade coop...
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Leaders of German automotive giant Volkswagen (VW) are expecting the next two years in the highly competitive Chinese car market to be difficult, but don't fear challenges from rival Chinese carmakers in the European market. Chinese carmakers will eventually need to invest in European production plants to build vehicles locally instead of shipping huge numbers of finished vehicles by ocean, Ralf Brandstätter, head of VW's China business, said on Wednesday in Beijing ahead of a major auto show in the Chinese capital. That would also put Chinese competitors on more equal footing with European ri...
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German automotive giant Volkswagen (VW) is expecting the next two years in the highly competitive Chinese car market to be difficult. "In April, we saw another round of price reductions coming, so this fierce competition will hold on for the next few years," VW board member Ralf Brandstätter said in Beijing ahead of a major upcoming motor show due to open next week. Many manufacturers of purely electric cars have significantly damaged their profit margins in recent years, he said, "so this leads to a consolidation of the market." He suggested that companies with lower sales volumes, below 100,...
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