Germany urges more U.S. saving
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Germany said on Tuesday budget  consolidation and higher national savings in the United States  and more Asian exchange rate flexibility were among measures  that would help avoid a disorderly unwinding of global  imbalances.
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The OECD called on Tuesday for the  Federal Reserve to tighten interest rates a bit more as it  projected U.S. economic expansion was set to stay solid this  year before easing slightly in 2007.
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BRUSSELS, Belgiumââ A top European Union official urged the United States on Monday to curb its deficits to help bolster the sagging dollar amid fears a strengthening euro would stifle EuropeÂ´s fledgling economic recovery.
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HypoVereinsbank, Germany's second-biggest bank, could save up to 300 million euros (390 million dollars) from the cost-cutting programme it announced recently, sources close to the matter told AFP.
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Over the weekend, the U.S. Federal Reserve Chairman Alan Greenspan hinted at the maintenance of ``weak dollar policy (in Germany) while President Bush said he is committed to a ``strong dollar (in Chile). In a ...
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German Chancellor Gerhard Schroeder, saying the euro&#39;s gains against the dollar are ``worrying,&#39;&#39; called for changes to European Union budget rules to give governments more leeway on spending.
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U.S. Treasury Secretary John Snow said on Sunday he assured members of the Group of 20 nations that Washington will slash deficits they blame for a falling dollar and repeated his call for stronger European growth.
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Germany&#39;s interior minister said it was time to put aside differences with the United States over Iraq and look to the future as President Bush won a second term, but another
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Germany's budget deficit widened in the first half of this year, figures released Tuesday showed, but the government renewed its commitment to get the shortfall back within a European Union-imposed limit next ...
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MUNICH, Germany  - Germany appealed Saturday for the United States to join Europe in ending Iran's isolation, saying economic and security incentives were needed to persuade Tehran to abandon its nuclear ambitions.
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French President Nicolas Sarkozy and German Chancellor Angela Merkel called here on Monday for more transparency on international finance markets.
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German Chancellor Angela Merkel has called on politicians, business leaders, and researchers to cooperate more closely in helping the country secure a leading position in the global IT sector and pledged money to support collaborative efforts.
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German Chancellor Gerhard Schroeder called on creditor nations Wednesday to suspend debt repayments from Indonesia and Somalia to help in their recovery from the quake-tsunami disaster.
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German Finance Minister Hans Eichel declined to provide additional comment on currencies when pressed at the closing news conference of a G20 meeting of rich and developing countries in Berlin on Sunday.
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German Minister for the Environment, Nature Conservation and Nuclear Security Juergen Trittin called on the United States to support international efforts in the protection of climate and ecology.
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WARSAW - US Treasury Secretary John Snow said yesterday measures to spur faster global economic growth, not European concern about the dollarâs plunging value, will be the focus of weekend talks in Berlin of the Group of 20 nations.
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(InfoWorld) - German Chancellor Angela Merkel has called on politicians, business leaders, and researchers to cooperate more closely in helping the country secure a leading position in the global IT sector and pledged money to support collaborative efforts. Speaking at Germany's first-ever IT summit on Monday, Merkel said communications and telecommunications companies need to hook up with the country's traditional heavyweights such as the automotive and chemical sectors and collaborate more intensively in the area of software engineering. Already today more than half of the innovations in the automobile industry are based on software. The Chancellor pledged â¬1.2 billion ($1.6 billion) in grants over the next three years to support innovation in Germany's IT sector. The funds will come from the federal government's â¬15 billion high-tech investment program approved earlier this year. But Merkel was quick to add that in the future, industry grants should be carefully targeted and not simply "poured out of a watering can." Germany has seen its strong tradition of technological innovation steadily wane over the years, due in part to high labor costs that have deterred investment and declining university standards that have caused a brain drain. The country claims a number of IT achievements, including the Zuse, seen by some as the first freely programmable computer, and the MP3 audio compression algorithm. SAP Chief Executive OfficerÂ Henning Kagermann was blunt in his assessment of Germany's IT standing. Although the communications and telecommunications sectors combined employ around 800,000 people and generate annual revenue of around â¬150 billion, making it the country's largest industrial sector, "in a global comparison, we are not a leader and, even worse, we are falling behind," he said. In addition to funds, the government initiative calls for immigration policies designed to attract talented researchers from around the world, and grants to keep gifted students in the country.