Germany Cabinet approved the nationalization of banks to prevent bank failures
View Network on Feb. 18th hearing: the German Cabinet approved the alternative bill of the nationalization of banks in order to prevent systemic crisis leading bank failures. According to foreign reports, the Germany cabinet on 18th voted to permit the adoption of the bill of mandatory nationalization of the banks. The bill was known as the supplement laws for the stability of financial markets. The HypoRealEstateHoldingAG has received 102 billion euros of loans and guaranteed by the state.
According to the forecast, German exports fell significantly
The President of German Wholesale and Foreign Trade Association Anton Boerner said on 17th, because of the global financial crisis and economic downturn leading to a drop in demand, the association expected that in 2009 German exports may decline by 8%, higher than the decline of 4 percent of the previous prediction to 6%. In Ifo Institute of Munich Stenson responsible for economic questions also said that because of Germany’s major trading partners, the European Union, the United States and Japan had been plunged into economic recession, the demand from abroad would be substantially reduced. The data of German Federation of Industry and Commerce showed that Russia was Germany target market of fastest growing exports, but because of lower oil prices lead to Russian reduction in revenue in 2009 German exports to Russia dropped by about 20%.
By acquisition, China Mobile plans to enter into the Indian market
Beijing February 18, according to foreign news Web site reported that China Mobile recently said that the company was considering entering the Indian market through the acquisition. According to the number of subscribers, China Mobile is the world’s largest mobile operator, its total subscribers reached 457 million.
China Mobile chairman and CEO Wang Jianzhou attended the GSMA World Mobile Communications Conference and said that the company aimed at India. This was also the first time that China Mobile showed its interest in he Indian market. But Wang refused to disclose whether the company has negotiated with the Indian operators.
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