Trends - Olaf Scholz - Business Recorder

Olaf Scholz

Germany to fine companies for rights violations abroad

BERLIN: Germany on Wednesday took a step towards forcing companies to take responsibility for any labour or...

Updated 08 Mar, 2021 09:16am

World

G20 should not withdraw fiscal support too early

"We must not scale back the support programs too early and too quickly," Scholz said ahead of a virtual meeting of finance ministers and central bank governors of the world's top 20 economies, adding he would campaign with his G20 colleagues for continued stimulus.

Published 26 Feb, 2021 07:06pm

Markets

Germany's profit from public debt may reach 600 million euros by 2029: document

The calculations are likely to fuel a debate in Germany about when Berlin should end massive deficit-spending triggered by the COVID-19 pandemic, and return to the fiscal rules of a debt brake that parliament suspended for 2020 and 2021.
Deputy Finance Minister Bettina Hagedorn said the calculations were only estimates and fraught with uncertainty due to the long time period.

Published 24 Feb, 2021 07:56pm

World

Germany gives extra 1.5bn euros for global vaccine rollout

BERLIN: Germany is donating an additional 1.5 billion euros ($1.8 billion) to boost the rollout of vaccines in the...

Updated 20 Feb, 2021 06:28pm

World

Germany pledges additional 1.5 bn euros for COVAX and WHO

We can only get out of the pandemic with vaccinations. We need to make progress on this, at home and abroad.
With today's announcement we make clear: We're standing side-by-side with the poorest countries.

Published 19 Feb, 2021 08:44pm

World

Germany's Scholz lauds Draghi-led government as ‘very good sign’

In Italy, again, a pro-European government has been formed. That's a very, very good sign.
Mario Draghi stands for a very smart policy, he is very experienced in fiscal policy. He is well connected internationally and he is a true European.

Published 15 Feb, 2021 08:54pm

World

Fight against smugglers rages on EU border with Belarus

More than 200 trucks a day cross into European Union member Latvia at the Paternieki border point, some of them stuffed with smuggled cigarettes hidden among other cargo.

Updated 14 Feb, 2021 05:13pm

World

Germany's Scholz: Something drastic needs to be done at Commerzbank

The government holds a stake of more than 15 percent in Commerzbank following a bailout during the financial crisis.
Stefan Wittmann, who sits on Commerzbank's supervisory board as a labour representative.

Published 02 Feb, 2021 07:20pm

World

German lawmakers turn sights on finance ministers in Wirecard fraud fiasco

Goldman Sachs declined to comment, referring to Wolfgang Fink's statement that he had no contact with officials on Wirecard.

Published 02 Feb, 2021 12:01pm

World

Germany replaces finance watchdog chief after Wirecard scandal

BERLIN: The head of German finance watchdog Bafin is stepping down as part of an overhaul triggered by last year’s...

Published 30 Jan, 2021 03:55am

Business & Finance

Germany takes on record debt in 2020, but less than expected

BERLIN: Germany took on record new debt in 2020 to shield the economy from the coronavirus pandemic, but less than...

Published 20 Jan, 2021 04:29am

World

Ireland could lose 2bn euros a year under global tax deal

Ireland, which took in 11.8 billion euros in corporate tax last year, has been accused by rivals of unfairly using tax policy to attract multinationals, which employ around 10% of the Irish workforce.
A deal could reduce Ireland's corporate tax take by between 800 million and 2 billion euros.

Published 14 Jan, 2021 09:06pm

World

Merkel says her party doesn't want property tax to cover pandemic costs

Finance Minister Olaf Scholz, the Social Democrat chancellor candidate for next year's federal election, has backed calls to reintroduce a wealth tax in Germany to pay back public debt amassed during the pandemic.

Published 16 Dec, 2020 06:30pm

World

EU leaders save landmark budget as Brexit looms

Leaders were looking to salvage the EU's 1.8-trillion-euro ($2.1-trillion) budget and coronavirus recovery package, seen as vital for the continent's battered economies, after it was blocked by Hungary and Poland over provisions linking it to the respect for rule of law.

Published 11 Dec, 2020 09:18am

World

Germany plans 22bn euros in COVID aid for companies in first half of 2021

Separately, Germany's November coronavirus aid package to compensate firms affected by lockdown measures will this month amount to 14 billion euros.
As part of the new round COVID-19 relief measure, companies can get up to 200,000 euros a month to cover fixed costs such as rent,

Published 14 Nov, 2020 06:00pm

World

Germany pushes up 2021 debt plans to nearly 100bn euros

The pandemic plunged Europe's largest economy into its deepest recession on record in the first half of the year.
The step would require another suspension of Germany's constitutionally enshrined debt limits after Berlin already abandoned them this year.

Updated 17 Sep, 2020 07:56pm

World

No-deal Brexit would hurt Britain more than EU: Scholz

My assessment is that an unregulated situation would have very significant consequences for the British economy.
Europe would be able to deal with it and there would be no particularly serious consequences after the preparations we have already made.

Published 12 Sep, 2020 06:12pm

World

Germany says UK to suffer if no Brexit deal, not EU

The EU has warned that the contentious legislation has "seriously damaged trust" between the two sides.

Published 12 Sep, 2020 05:56pm

World

Germany's Scholz in hot seat over financial scandals

Scholz on Wednesday said he was "grateful for the work" of the FT reporters.

Published 10 Sep, 2020 02:29am

World

Germany's Scholz plans 2021 budget with new debt of over 80bn euros

The exact debt figure for 2021 is still subject to negotiations within Chancellor Angela Merkel's conservative-led coalition government.
The step will require another suspension of Germany's constitutionally enshrined debt limits after Berlin already abandoned them this year.

Updated 03 Sep, 2020 09:01pm

World

German lawmakers grill Scholz over Wirecard scandal

Scholz entered the closed-door meeting in the parliament's finance committee without giving a statement to reporters.
Scholz last week rushed out a reform agenda that would give financial watchdog BaFin greater investigative and enforcement powers.

Published 29 Jul, 2020 11:06pm

World

German finance minister under fire over Wirecard warnings

Wirecard collapsed spectacularly last month after admitting that 1.9 billion euros ($2.2 billion) missing from its accounts likely did not exist.
Scholz has described the Wirecard scandal as "unparalleled in the financial world" and called for reforms of the country's finance watchdog Bafin.

Published 17 Jul, 2020 08:33pm

World

German FinMin points to regulatory failures in Wirecard scandal

Wirecard case raises questions about regulation, FinMin.
Says regulators did not appear to be effective.
Says need to determine necessary regulatory changes.

Published 23 Jun, 2020 05:09pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 3	278.23
USD PKR Interbank Buying / May 3	278.03
USD to Japanese Yen / May 3	153.05
USD to Swiss Franc / May 3	0.91
Pound Sterling to USD / May 3	1.25
Euro to USD / May 3	1.08

Stock	Volume
S&P 500 / May 3	5127.79
India Sensex / May 3	73878.15
Tokyo Nikkei / May 3	38236.07
Nasdaq / May 3	16156.33
Hang Seng / May 3	18475.92
FTSE 100 / May 3	8213.49
Dow Jones / May 3	38675.68
Germany DAX 30 / May 3	18001.60

Item	Value
Crude Oil USD/Barrel / May 3	78.11
Karachi Cotton PKR/37.32 KG / May 3	20535
Gold 10 Grams PKR / May 3	205418
Gold Spot USD/Ounce / May 3	2301.74
Cotton US¢/pound / May 3	78.06
Petrol/Litre / May 6	288.49

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 6 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 6 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 6 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 6 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 6 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 6 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 6 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 6 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 6 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 6 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 6 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 6 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 6 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 6 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 6 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 6 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 6 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 6 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 6 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 6 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 6 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 6 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 6 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 6 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 6 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 6 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 6 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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Olaf Scholz

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