Economy of Germany

As the latest estimates regarding just how hard Greek hotels have been hit by the collapse of UK travel giant Thomas Cook are pointing to unpaid invoices of some 230 million euros, and the government is assessing its options in terms of response measures, the now-dominant European tour operator, Tui AG, is sending one of its big bosses to Greece.

OTE telecom announced on Wednesday the conclusion on Tuesday of the bookbuilding process for the issuance of a 500 million-euro seven-year bond in international debt capital markets.
The issuance was strongly oversubscribed allowing tight pricing. The coupon was set at 0.875 percent, the lowest ever achieved, OTE stated.

German designer and architect Luigi Colani, who worked for industrial companies, car companies, furniture and technology companies, died in Karlsruhe at the age of 91, according to worldwide  agencies, BTA reported.

Economic growth in the euro area and across the European Union slowed sharply in the second quarter after a better performance earlier this year, a final, unaudited Eurostat estimate showed.

Insurer Allianz has invested more than 1 billion euros (around $1.1billion) since 2008, Tolga Gürkan, the chairman of the executive board of Allianz Türkiye, told Anadolu Agency.

The German economy shrank by 0.1 percent in the second quarter from the previous quarter as global trade conflicts and troubles in the auto industry weighed on Europe's largest economy.

Friedrich Joussen, chief executive officer of travel operator Tui, told Kathimerini in an interview published on Sunday that even more important than lower taxes are laws "being applied to everybody," including social security contribution provisions.

A 23-year-old man has died after a car accident in the northern Athens suburb of Aghios Stefanos on Tuesday.
Reports have identified the victim as Alexandros Zaharias, son of the owner of Greek toy store chain Zaharias.

German car maker Volkswagen plans to build a factory for the production of several automotive models in Turkey, Automobileworld, a German automobile magazine, said on Friday.

This information means that the new Volkswagen car factory will not be based in Bulgaria.

Turkey's Enerjisa and Germany's Enercon won Turkey's second Renewable Energy Resources Zones (YEKA) wind energy tenders for a total capacity of 1,000 megawatts (MW) on May 30.