Germany

November Records Fall in German Unemployment

On the back of a steadily recovering economy, and the fact that the Government had fiercely discouraged firing, the unemployment rate for the month of November recorded a fall all throughout Germany. As confirmed by the figures shared by Nuremberg-based Federal Labor Agency, the number of employed people fell 7,000 to 3.42 million for November, leading to the month recording an unemployment rate of 8.1%, compared to last month's recorded figure of 8.2%.

Qatar to sign rail deal with Germany

The Qatari Diar headquarters is set to witness a deal worth a mega $25 billion between Qatar and German rail and logistics giant, Deutsche Bahn as reported by the Qatar-based The Peninsula. The deal is aimed to strengthen integrated railway network.

Media reports, citing official sources, claims that both sides would sign a deal for passenger as well as freight rail networks in Qatar. German industrial group Siemens could get contracts for supplying trains while construction firms of German can be involved in building rail networks.

Telefonica acquires HanseNet for €900 million

Telefónica SA of Madrid has agreed to buy HanseNet Telekommunikation, Germany's fourth-largest broadband company from Telecom Italia SpA for €900 million in all-cash deal.

The buyout will make Telefónica, which also owns O2 Germany, the number three player in the German market. The deal is expected to close in early 2010.

Hamburg-based HanseNet operates under the brand name Alice and presently has about 2.2 million broadband subscribers in the country. Telefónica currently holds only 253,000 broadband home subscribers.

Synlab GmbH buys United Medical Lab Riyadh

Germany based Laboratory services provider Synlab GmbH, has bought Saudi-owned United Medical Lab Riyadh to form the largest private laboratory in the region.

Trucks to be built by UAE's Aabar, German Firms

Monday saw United Arab Emirates' Aabar Investments PJSC saying that it has signed a deal with Algeria and five German companies, including MAN Ferrostaal AG and Daimler AG, to make all-terrain vehicles and trucks in North Africa.

MAN Ferrostaal said in a separate statement that finally the agreement will produce a joint-venture company between Aabar and MAN Ferrostaal to manage the plants in Algeria.

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