German trade surplus shrinks

BERLIN: Germany’s trade surplus narrowed in the first half of the year as strong domestic demand led to imports growing faster than exports, adding to signs that Europe’s largest economy is slowly reducing its dependence on foreign sales. The International Monetary Fund and the European Commission have urged Germany for years to do more to […]

Tens of thousands losing jobs as India’s auto crisis deepens

New Delhi: Slumping sales of cars and motorcycles are triggering massive job cuts in India’s auto sector, with many companies forced to shut down factories for days and axe shifts, multiple sources said. The cull has been so extensive that one senior industry source told Reuters that initial estimates suggest that automakers, parts manufacturers and […]