The Swiss Central Bank said its expansive monetary policy was still appropriate in light of Turkey’s currency crisis and the recent appreciation of the frank versus the euro. The bank favors a weaker frank to support Swiss exports.
The quality of German school education dropped for the first time in 15 years as pupils performed worse in language and mathematics, and the percentage of drop-outs rose to 14.2%. (INSM study)
German municipalities need to spend €159 billion to bring their roads, bridges, schools, kindergartens and sanitation systems up-to-date and meet higher demand for transportation, education and child care. (KfW study)
The state of Saxony will set up two locations that can house between 500 and 750 refugees each to quickly process their asylum applications. It is part of Interior Minister Horst Seehofer’s stricter asylum policies.
Germany will accept up to 50 refugees from the rescue ship Aquarius, which has been looking for a port since Friday after picking up 141 people off the coast of Libya. The boat can dock at Malta, a Mediterranean island.
The state of Bavaria deported 46 Afghan refugees to their home country after authorities had rejected their asylum applications. A total of 194 Afghans have so far been expelled this year. (Welt)
Madame Tussauds in Berlin staged a live Donald Trump impersonator in its wax figure museum. The actor hit a picture of Chancellor Angela Merkel on a punchball and danced to the lyrics, “I’m sexy and I know it.”
The number of refugees traveling on top of cargo trains from Italy to Germany has risen sharply from a handful last year to 254 in the first six months of this year, police in the state of Baden-Württemberg said. (n-tv)
Siemens CEO Joe Kaeser said his company’s market value is as much as €20 billion too low compared to rivals. He wants to close this gap. (Passauer Neue Presse)
Ado Properties, which owns 22,000 homes in Berlin, reported a 26% rise in rental income in the first half year thanks to new rentals and rent increases. Its shares rose 1.4%
The number of jobs in Germany’s manufacturing businesses climbed to a new all-time high of 5.6 million at the end of June. Producers of data processing and electronic equipment added the most positions.
Shares of car-parts maker Leoni fell as much as 5.5% after second-quarter earnings disappointed investors and analysts.
Northern Europe’s summer heat exposed Germany’s dependency on solar and wind power: Due to a lack of wind, Germany’s 38,000 wind turbines delivered only a fraction of the electricity they could produce. High temperatures also reduced the performance of solar panels.
European cities, from Berlin to Barcelona, are imposing increasingly draconian restriction on Airbnb rentals, accusing the US home-sharing platform of exacerbating housing shortages and encouraging tax evasion.
Workers in two of 16 German states, Bavaria and Saarland, have a day off because of the Assumption of Mary holiday, which commemorates the ascension of Jesus’ mother into heaven.
The Bundesbank approved the government’s nomination of Sabine Mauderer for the vacant position on the central bank’s executive board. The 48-year-old director of development bank KfW will be the second woman on the Bundesbank board. (Reuters)
Heiko Maas, Germany’s foreign minister, expressed his sorrow and concern for those affected by the collapse of the motorway bridge outside Genoa.
The Aquarius refugee ship will dock in Malta after some EU countries agreed to accept the 141 people rescued off the Libyan coast.
The UK exports 45 million packs of medicine to the EU each month and after Brexit, Europe could face shortages of up to 108 drugs, according to the EMA chief, Guido Rasi. Of these, 88 treat people and 20 help animals.
A souped-up Volkswagen Jetta will try to beat land-speed records in a race in Utah in August. Its makers hope the vehicle’s 500-hp motor will drive it up to 335 kilometers per hour (208 mph).
Wirecard, a fintech handling online and card payments, surpassed Deutsche Bank’s market cap with a value of €21.3 billion ($24.3 billion). It is expected to join the DAX, Germany’s blue-chip stock index, next month.
Tourism to Berlin has increased 4% this year, compared to last year. Most travelers come from Germany, followed by the UK and the US.
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