Tag: Germany

German Chancellor Olaf Scholz meets with Japanese officials to explore strategies for diversifying economic partnerships, addressing vulnerabilities exposed by the Ukraine war and COVID-19 pandemic. The nations aim to reduce reliance on single economic partners and strengthen collaborative approaches to global economic challenges.

The European Union has agreed to ban Russian coal, marking its first significant energy sanctions over the Ukraine conflict. While the €4 billion annual ban represents a symbolic break from Russian energy dependence, deeper challenges remain in restricting oil and natural gas imports without triggering potential economic recession.

Germany's government unveiled a comprehensive energy reform package aimed at dramatically increasing renewable power generation. The 600-page "Easter package" prioritizes wind and solar energy expansion, streamlining bureaucratic processes and targeting nearly 100% renewable electricity by 2035. This strategic move addresses climate goals and reduces dependence on Russian energy imports.

Poland moves to cut Russian oil by year-end, with Germany cautioning on gas conservation as European energy landscape shifts due to conflict with Russia.

U.S. chipmaker Intel announces an ambitious €80 billion investment across Europe to expand semiconductor manufacturing and research. CEO Pat Gelsinger highlights the global demand for chips, with planned production sites and R&D centers in Germany, Ireland, France, and Italy over the next decade.

GlobalFoundries is investing US$6 billion in new semiconductor manufacturing facilities, with a primary focus on Singapore. The expansion aims to address ongoing global chip shortages affecting industries like automotive and consumer electronics, while responding to strategic manufacturing priorities.