Carmaker Daimler is to transfer a 7.5-percent stake in European aerospace and defence giant EADS to Germany's state-owned bank KfW, the Economy Ministry announced on Thursday.
Germany's state development bank KfW has claimed back 50 Siemens trains leased to Bulgaria's state railways company BDZ over delayed payments and an insurance row, a press report said on Friday.
A German development worker was killed by insurgents in northern Afghanistan on Friday night. Development Minister Dirk Niebel described the killing as a "cowardly attack," while Chancellor Angela Merkel has expressed her shock.
German prosecutors said Tuesday they had dropped a probe into six bankers from state-owned KfW for transferring some €320 million ($408 million) to Lehman Brothers after it had collapsed.
German Economy Minister Karl-Theodor zu Guttenberg has announced a plan to create a €10 billion state fund to help companies in credit difficulties, news magazine <i>Der Spiegel</i> reported Saturday.
The state-owned development bank has had a terrible year thanks to to the finance crisis and management missteps. Now, the bank’s CEO is set to receive a bonus of at least €160,000, the daily <i>Bild</i> reported Saturday.
Germany's state-owned development bank KfW is expecting further losses in its final-quarter 2008 results, following losses in the first three quarters of the year, the bank's chief said on Monday.
The German government is reportedly planning an ambitious aid package for small and medium businesses, the backbone of the German economy, to help them survive the credit crisis.
Police searched the offices of the KfW state development bank in Frankfurt on Wednesday while investigating alleged crimes connected with money transferred to Lehman Brothers after it had gone bust.
Germany's KfW said Monday it had fired two directors who have been suspended since the state development bank transferred more than €300 million to Lehman Brothers after it filed for bankruptcy.
The €350-million transfer to Lehman Brothers from German state development bank KfW transfer was not a mistake, according to the Monday edition of daily <i>Frankfurter Allgemeine Zeitung</i>.
With Germans wondering how employees at the KfW bank came to sink over €300 million ($500 million) into Lehman Brothers just hours before the Wall Street firm collapsed, one paper has gone straight to the source.
German Finance Minister Peer Steinbrück has called for KfW officials to pay the consequences for the state development bank's mistake transfer of €300 million ($427 million) to Lehman Brothers just as the US investment bank was collapsing.
Germany's state bank announced on Tuesday a new effort at further privatizing national phone company Deutsche Telekom with a €3-billion ($4.6-billion) convertible bond offering.
Germany’s KfW development bank reportedly wants to impound the cargo of a Chinese ship – a horde of weapons and ammunition intended to bolster the Robert Mugabe’s authoritarian regime in Zimbabwe.
