Moody’s took the first step toward stripping Germany of its coveted AAA credit rating on Monday, cutting the outlook for Europe’s largest and most pivotal economy to “negative.” Delivering a stark warning that no one is immune from the eurozone’s rolling crisis, the ratings agency lowered Germany’s credit outlook from “stable” to “negative.” A... 

German power suppliers are suing the government for 15 billion euros ($19 billion) in damages over the decision to abandon nuclear power, the Frankfurter Allgemeine Zeitung reported Wednesday. The country’s biggest power utility E.ON, alone, wants at least 8.0 billion euros, the newspaper said, without revealing its sources. In the wake of the nuclear disaster in Fukushima, Japan, Berlin decided... 

Vietnam Bank for Industry and Trade, shortly known as VietinBank, on Monday opened a branch in Berlin, which is the bank’s second unit in Germany after its first branch in Frankfurt. VietinBank’s board chairman Pham Huy Hung told the opening ceremony that the presence of the bank’s branch in Germany’s most populous city would foster and facilitate business development between Germany and... 

The State Bank of Vietnam (SBV) has agreed in principle to allow the Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) to set up a subsidiary bank in Germany. The Vietinbank (Europe) Ltd is located at No. 44 on Reuterweg street in Frankfurt am Main city, with an estimated capitalization of Euro 50 million. Before operating with its charter capital of Euro 25 million, it will... 

Evidence that the eurozone debt crisis is beginning to hurt the German economy sent investor confidence in Europe’s largest economy to a three-year low, data showed on Tuesday. The ZEW economic think-tank said in a statement that its closely watched economic expectations index fell by 5.0 points to stand at minus 48.3 points in October, its lowest level since November 2008. The decline was steeper... 

German Chancellor Angela Merkel iterated in HCMC on Wednesday that German companies would flock to Vietnam to sound out opportunities, especially in high-tech, environment-friendly sectors seen as vital for Vietnam’s sustainable development. In her keynote address given at the Germany-Vietnam Economic Forum, Merkel said German investors always eyed long-term business for sustainable development,... 

Eurozone countries must settle their debt crisis at an emergency summit this week to stop Greece toppling into default and dragging bigger euro economies into deeper trouble. After finance ministers failed to clinch a new rescue package for Greece on July 11, stocks and the euro tumbled amid warnings that a Greek debt default could infect the third and fourth biggest eurozone economies, Italy and... 

Vietnam Star Automobile, the authorized dealer of Mercedes-Benz, is investing an extra US$5 million in its new flagship Autohaus 600 in HCMC according to Daimler’s global standards. The Mercedes-Benz Autohaus 600 project is located next to the Customer Service Center on Nguyen Van Linh Parkway in the Saigon South new urban in District 7. This is a high-class complex comprising a deluxe showroom with... 

The eurozone is preparing for the worst in the Greek debt crisis and will cope even if Athens defaults on its loans, German Finance Minister Wolfgang Schaeuble said in an interview published Sunday. Schaeuble said he and his European counterparts fully expected the Greek parliament to pass a crucial austerity package this week despite massive street protests and opposition resistance, but would manage... 

German lighting company Osram, which is owned by industrial giant Siemens, said Monday that it had filed suit against Samsung and LG of Korea for patent violations. Osram filed complaints in Germany and the United States in connection with alleged violations regarding patents for light emitting diode (LED) technology and plans to file another on Tuesday against LG in China, a statement said. “Osram...