German bank braces for wave of bad loans in ‘greatest real estate crisis since the financial crisis’

Deutsche Pfandbriefbank, or PBB, a German lender focused on real estate, has set aside more money for bad debts as it braces for what it says is the worst decline in commercial property values in 15 years.

PBB increased its provisions for los…[Read more]

Europe’s growth engine is sputtering. Can Germany’s economy be revived?

The world’s fourth-largest economy has got off to a bumpy start this year. A strike by Lufthansa ground crew on Wednesday was just the latest industrial action to cause travel chaos in recent weeks, after train drivers walked off the job in January over a wage dispute and f…[Read more]

German firm BASF to pull out of Xinjiang after Uyghur abuse claims

The German chemicals producer BASF has said it will withdraw from its two joint ventures in Xinjiang, after media reports about alleged human rights abuses relating to its partner company, which BASF’s CEO said crossed a red line.

In a statement on Friday, BASF said that while “…[Read more]

COVID patients again rising in Japan; experts warn of 10th wave

The average number of coronavirus patients among designated hospitals across Japan has been rising for 11 consecutive weeks, health ministry data showed Friday, with experts warning the country has entered its 10th COVID-19 wave.

The average among the roughly 5,000 medical…[Read more]

Japan OKs new foreign trainee program to attract more workers

The Japanese government adopted plans on Friday to scrap its current foreign trainee program, which has been criticized as a cover for importing cheap labor, and replace it with a system it says will actually teach skills and safeguard trainees’ rights as Japan desperately seeks more…[Read more]

41-year-old man arrested for assaulting 2 elementary school boys

Police in Kagoshima have arrested a 41-year-old man on suspicion of assaulting two elementary school boys by punching them in the face and pulling their arms and hair.

The incident occurred at around 5:20 p.m. on Feb 2, local media reported. Police said Kenji Ueno, whose occupation…[Read more]

Data rigging scandals threaten to undermine Toyota’s growth

Behind Toyota Motor Corp’s record earnings announced last Tuesday are its relentless efforts to make its vehicles reliable and operations leaner. A series of data fraud scandals at the auto group have put part of its success formula at risk of collapse.

Data rigging in vehicle…[Read more]

Japan joins others in halting funds for U.N. Palestinian refugee agency

Japan has decided to suspend funding for a U.N. agency that supports Palestinian refugees, joining the United States and others, amid allegations that its staff may have been involved in Hamas’ attack on Israel last year.

Foreign Ministry spokeswoman Maki Kobayashi said in a…[Read more]

Japan preparing to add transport roles to skilled visa amid shortages

Japan is preparing to add four sectors including the transportation industry to its foreign blue-collar skilled worker visa granting up to five years of working rights, government sources said Sunday, amid fears of driver shortages.

The move would bring the eligible industries…[Read more]

Aso praises Kamikawa but says she is ‘not very beautiful,’ and calls her ‘Kamimura’

Liberal Democratic Party Vice President Taro Aso praised Foreign Minister Yoko Kamikawa during a speech Sunday in Ashiya, Fukuoka Prefecture, but mistakenly called her “Kamimura” twice and said he didn’t think she could be called “very beautiful.”…[Read more]

Tea producers in Türkiye address ‘salty tea’ controversy

Tea producers in Türkiye have chimed in on an American chemist’s seemingly outrageous suggestion to put salt while brewing tea which sparked controversy on social media saying, “tea should be drunk in its purest form, without altering the taste.”

“When tea is drunk completely unsweet…[Read more]

Istanbul church attack: Gunmen kill one person during Sunday morning mass

Two gunmen attacked a Catholic church in Istanbul, turning morning mass into a scene of terror and killing one man.

The shooting happened at the Church of Santa Maria during Sunday mass at around 11:40 local time (08:40 GMT).

Turkey’s interior minister later said on X,…[Read more]

US approves sale of F-16 fighter jets to Turkey

The United States has approved the sale of F-16 fighter jets to Turkey after the Turkish parliament this week ratified Sweden’s NATO membership.

The US Department of State notified Congress of the $23bn agreement to sell the warplanes to NATO ally Turkey on Friday night, along with a companion $…[Read more]

How to found a political party in Germany

Any adult citizen in Germany can vote, join a party, stand for election — or found their own party. No permission from the state is necessary, but founders must commit to basic democratic principles.

Foreigners can also establish a party in Germany. However, the majority of the party’s executive c…[Read more]

Will nuclear energy make a comeback in Germany?

One year ago, Germany took its three remaining nuclear power plants off the grid, consigning the technology to the history books.

Nuclear fission was once seen as the future. In the early 1960s, politicians and scientists in Germany thought that it would provide an endless supply of electricity,…[Read more]

Germany records a sharp rise in counterfeit bills

German authorities recorded a sharp increase in counterfeit cash in 2023, with around 56,600 banknotes theoretically worth almost €5.1 million withdrawn from circulation.

The figures, announced by the country’s central bank, the Bundesbank on Monday, represent a 28% increase in the number of n…[Read more]

German defense minister says the military is unfit for problems Europe faces

Germany’s defence minister has called for a “serious national debate” about the future of the country’s military, arguing that in its current state it is not fit to tackle the array of security policy challenges facing Europe.

Boris Pistorius, who has frequently called…[Read more]

Germany unearths pro-Russia disinformation campaign on X

Digital forensic experts in Germany have uncovered a vast, pro-Russia disinformation campaign against the government using tens of thousands of fake accounts on the social media platform X.

The German foreign ministry, which commissioned the study after suspecting it was being targeted by…[Read more]

Gov’t estimates Japan quake damage will reach ¥2.6 tril

The government on Thursday said damage to infrastructure from the earthquake that rocked central Japan on New Year’s Day may reach as high as 2.6 trillion yen.

The magnitude-7.6 quake that struck the Noto Peninsula in central Japan has added a layer of uncertainty over the economy, amid…[Read more]

21,818 people committed suicide in Japan in 2023, health ministry says

The number of suicides in Japan in 2023 was 21,818, the Ministry of Health, Labor and Welfare announced on Friday. The provisional figure, based on National Police Agency statistics, was 63 fewer than in 2022.

Males accounted for nearly 70% of the total, at 14,854, and…[Read more]