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IMF urges Germany to loosen purse strings

Frankfurt am Main - Al Maghrib Today

IMF chief Christine Lagarde has joined calls on Germany to invest in future economic growth even at the cost of relaxing its cherished budgetary discipline, raising hackles in Europe's powerhouse. "There is an excess of savings over investments which suggests that Germany can afford to spend and invest more" Lagarde said at a Thursday conference with top economists and policymakersRead more

German economy grew 2.2% in 2017: official data

Frankfurt am Main - Al Maghrib Today

The German economy grew 2.2 percent in 2017, official data showed Thursday, in line with forecasts from the the country's leading economic think-tanks and the OECD. Europe's largest economy also notched up a record government budget surplus of 1.2 percent of GDP, officials from statistics authority Destatis said at a Berlin press conference. Source: AFPRead more

German industrial output rebounds in November

Frankfurt am Main - Al Maghrib Today

Industrial production in Germany rebounded in November after two months of decline, official data showed Tuesday, adding to signs of a healthy economy entering the new year. Output from industrial firms increased 3.4 percent month-on-month in November, federal statistics authority Destatis said. Manufacturers reported a 4.3-percent boost to production, with the most powerful increase among makers of capitalRead more

German industrial orders dip in November

Frankfurt am Main - Al Maghrib Today

Industrial orders in Germany fell in November, data showed on Monday, but not enough to derail the growth outlook for Europe's biggest economy, analysts said. Industrial orders fell by 0.4 percent in November from the preceding month, the federal statistics office Destatis calculated in a statement. Analysts had been expecting a bigger drop, following a 0.7-percent increase in orders inRead more

VW to build autonomous cars

Frankfurt am Main - Al Maghrib Today

The world's largest carmaker Volkswagen said Thursday it would work with Silicon Valley firm Aurora to create self-driving cars, hoping to deploy fleets of autonomous taxis to city streets by 2021. "With Aurora, VW gains access to an experienced and globally leading development team in software and hardware for driverless vehicles," the Wolfsburg-based group said in a statement. Founded byRead more

German business morale eases back from record high: Ifo

Frankfurt am Main - Al Maghrib Today

German business confidence dipped slightly below last month's record high but remains "excellent", a closely-watched survey found Tuesday, as Europe's top economy ends 2017 in a party mood. The Ifo economic institute's business climate index hit 117.2 points in December, slightly below November's historic 117.5 points. "German businesses are full of festive spirit," Ifo president Clemens Fuest said in aRead more

ECB expects inflation to hit 1.7% in 2020, still below goal

Frankfurt am Main - Al Maghrib Today

The European Central Bank on Thursday said it expects inflation to hit 1.7 percent in 2020, still short of the bank's target of just under 2.0 percent that is seen as most favourable for growth. For 2018, the bank slightly lifted its forecast from 1.2 percent to 1.4 percent. Consumer prices are expected to rise by 1.5 percent in bothRead more

ECB's Draghi says 'ample degree of stimulus' still needed

Frankfurt am Main - Al Maghrib Today

European Central Bank chief Mario Draghi on Thursday said the eurozone economy still relied on "an ample degree" of stimulus in the face of sluggish inflation. While praising an "increasingly robust and broad-based economic expansion", Draghi said price pressures remained "muted". "Therefore an ample degree of monetary stimulus remains necessary for underlying inflation pressures to build up," he told aRead more

ECB to halve bond purchases from January: spokesman

Frankfurt am Main - Al Maghrib Today

The European Central Bank on Thursday announced it would halve its monthly bond purchases to 30 billion euros ($35 billion) from January but extend the easy money scheme until well into next year. "From January 2018 the net asset purchases are intended to continue at a monthly pace of 30 billion euros until the end of September 2018, or beyond,Read more