Category: germany
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Germany: Interoperability – What Does It Mean?
International organizations like the United Nations (UN) or NATO are alliances of individual nations. The ability for these nations to cooperate militarily is called interoperability. We will show what is necessary for this. Interoperability refers to the ability of different systems, organizations, or entities to work together effectively and seamlessly. In the context of international…
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Digital Money: Options for the Financial Industry
The current monthly report from the Bundesbank explores the options available to the financial industry for payment processing as digital transaction technologies become increasingly prevalent. It is expected that the combination of Distributed Ledger Technology (DLT), digital asset tokenization, and digital money could generate significant efficiency gains for the financial industry. “Through the use of…
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Germany Sees 78% Surge in International Travel in 2022 Compared to Previous Year, but 13% Below Pre-COVID Levels
Germany saw a significant increase in international travel in 2022 compared to the previous year, with a rise of 78%. However, the number of trips abroad was still 13% lower than before the COVID-19 pandemic. These findings were reported by the Federal Statistical Office (Destatis) in a press release. Italy, Austria, and Spain emerged as…
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German Economy Begins to Recover, according to Monthly Report
The German economy is expected to have seen a slight increase in the second quarter of 2023, according to the monthly report. The previously declining private consumption stabilized, aided by the strong state of the labor market, significant wage increases, and a lack of further price increases. Experts believe that these factors have also benefited…
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Joachim Nagel Highlights the Crucial Role of Digital Change for Higher Labor Productivity in Guest Article
Bundesbank expert explores the impact of digital transformation on productivity growth Frankfurt, Germany – In a guest article published in the Frankfurter Allgemeine Zeitung, Joachim Nagel, an expert from the Bundesbank, emphasizes the importance of digital change in driving higher labor productivity, which is crucial for maintaining a high standard of living and fostering prosperity.…
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Psychological Disorders Were the Most Common Cause of Hospitalizations for 10- to 17-Year-Olds in Germany in 2021
Psychological disorders and behavioral disorders were the leading cause of hospitalizations for children and adolescents in Germany aged 10 to 17 in 2021, according to the latest data from the Federal Statistical Office (Destatis). Out of approximately 427,600 hospital patients in this age group, nearly 81,000 were treated for mental health conditions, accounting for 19%…
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German Federal Finance Agency Completes Secondary Market Placement
The auction held on July 10, 2023, by the German Federal Finance Agency for the Unsinkable Treasury Notes of the Federal Republic of Germany (“Bubills”), issued in January 2023 with a maturity of 12 months and due on January 17, 2024, with a remaining term of 6 months (189 interest days), ISIN DE000BU0E014, yielded the…
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German Truck Toll Mileage Index Decreases by 1.4% in June 2023 Compared to Previous Month
The mileage of toll-charging trucks with at least four axles on federal highways in June 2023 decreased by 1.4% compared to May 2023, after calendar and seasonal adjustments, according to the Federal Office for Logistics and Mobility (BALM) and the Federal Statistical Office (Destatis). Furthermore, the calendar-adjusted Truck Toll Mileage Index was 3.3% lower than…
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Successful Completion of Highest Test Level for Germany’s Protected Core Network
In a notable achievement, the Mobile Communication System of the German Armed Forces, known as MobKommSysBw, successfully completed the Coalition Warrior Interoperability eXploration, eXperimentation, eXamination eXercise (CWIX) in 2023. Administered by NATO’s latest standards, the system achieved a remarkable 100% success rate in solving test cases, showcasing its compatibility with the highest NATO expansion level,…
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Deutsche Bundesbank Releases Data on Credit Institutions in Germany as of December 31, 2022
The Deutsche Bundesbank has published its latest data on credit institutions in Germany, revealing the number of institutions as of December 31, 2022. The report shows a decrease in the overall number of credit institutions compared to the previous year. According to the data, there were a total of 1,458 credit institutions in Germany at…
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Germany Enhances Multinational Troop Deployments with Standhafter Bär Exercise
Germany, acting as a logistical hub, plays a crucial role in troop movements within and through Europe. The transportation of troops and materials requires meticulous planning and coordination to ensure the deployment of operational forces in the target area. The planning processes involved in these operations were the focus of the Standhafter Bär exercise. The…
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German Economist Joachim Nagel Delivers Keynote Address on Economic Challenges and Inflation at Bundesbank-Symposium in Frankfurt
In Frankfurt am Main, Germany, on the 5th of July 2023, Joachim Nagel delivered a keynote speech at the annual Bundesbank-Symposium titled “Banking Supervision in Dialogue.” Unfortunately, he couldn’t be present in person and expressed his regret for it. During his address, Nagel acknowledged the representation of his colleagues, Mr. Walch and Ms. Braun-Munzinger, who…
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Weekly Activity Index for the German Economy Shows Promising Growth
The Weekly Activity Index (WAI), designed to measure real economic activity in Germany in a timely manner, has recently been updated, showcasing positive developments in the country’s economic landscape. For the week of June 26 to July 2, the WAI recorded a value of 0.7, indicating a stronger increase compared to the previous week’s value…
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Mandatory Macroprudential Oversight by the Committee for Financial Stability
The Committee for Financial Stability (Ausschuss für Finanzstabilität or AFS) serves as the central body for macroprudential oversight in Germany, established at the beginning of 2013 through the Financial Stability Supervision Act. The committee is composed of three representatives each from the German Federal Ministry of Finance (BMF), Deutsche Bundesbank (German central bank), and the…
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German Troops from Three States Engage in Orange Road 2023 Exercise in Ohrdruf, near Erfurt
The Field Hunter Regiment 3 is conducting a training exercise with 350 soldiers from Baden-Württemberg, Bayern, and Thüringen in Ohrdruf, near Erfurt. The primary focus of the first drill, codenamed Orange Road 2023, is on exploring and operating a traffic control network and ensuring the robust protection of critical infrastructure. During the exercise, soldiers are…
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Safeguarding Sustainable Supply Chains: New EU Regulation Halts Deforestation for Import Products
Safeguarding Sustainable Supply Chains: New EU Regulation Halts Deforestation for Import Products Berlin, June 29, 2023 – The EU has enacted a groundbreaking regulation at the end of June aimed at securing sustainable supply chains. The regulation prohibits the import of products such as palm oil, coffee, natural rubber, or soy into the EU if…
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German Import Prices Plummet in May 2023: Down 9.1% Compared to May 2022
Germany experienced a significant 9.1% decrease in import prices during May 2023 compared to the same month in 2022, according to the latest report by the Federal Statistical Office (Destatis). This marks the most substantial price drop since September 2009, when prices fell by 11.4% due to the global financial crisis. The primary factor contributing…
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Rent values in East and West Germany to be equalized
In a significant development, the pension values in East and West Germany will be equalized starting from July. This achievement comes a year earlier than originally planned, signifying a major step towards harmonizing the retirement system in the country. As a result of this equalization, pensioners in both regions will receive the same level of…
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Germany’s population grew by 1.3% in 2022
The increase was driven by a significant rise in net immigration, particularly due to the influx of refugees from Ukraine. Additionally, more people died than were born, resulting in a surplus of deaths over births. The western and eastern German states both experienced population growth. The number of people with foreign citizenship increased by 1.4…
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German Service Producer Prices Decline in Q1 2023 Due to Falling Sea Freight Rates, While Energy and Personnel Costs Rise
Germany’s producer prices for services in the first quarter of 2023 have decreased by 0.8% compared to the same period in the previous year. This decline can be attributed to significantly falling prices in sea freight, while costs for energy and personnel have increased in various service sectors. According to the Federal Statistical Office (Destatis),…