Germany tops Europe for foreign capital

Germany is the most attractive European country for foreign companies to set up in, according to Monday news report.

Germany tops Europe for foreign capital
Photo: DPA

Citing a study by consulting firm Ernst and Young, daily Die Welt reported that Berlin, Frankfurt and Munich were especially popular locations for foreign investment – all landing in the top ten among the most popular European cities.

“German has an excellent reputation and is valued enormously,” study author Peter Englisch told Die Welt.

A large domestic market, highly educated workforce and high quality of life are among the reasons for Germany’s positive image among businesses, according to the report, which surveyed 812 managers from international companies.

Berlin was the third most popular city, only being surpassed by London and Paris.

“Berlin is trendy,” Englisch told Die Welt, pointing out the city’s close proximity to Eastern Europe and upcoming role as a major transport hub with the construction of a major new airport in the city.

Frankfurt is seen as a good location for science and pharmaceutical-focused companies, while Munich, Hamburg, Düsseldorf and Stuttgart are good locations for hard industries, the study reported.

Hi-tech industries, however, do not view Germany quite so positively, preferring to head to places like China and the United States, Englisch told Die Welt.

“The Googles and Microsofts of the future will not arise in Germany,” he said.

The Local/mdm

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Four injured as WWII bomb explodes near Munich train station

Four people were injured, one of them seriously, when a World War II bomb exploded at a building site near Munich's main train station on Wednesday, emergency services said.

Smoke rises after the WWII bomb exploded on a building site in Munich.
Smoke rises after the WWII bomb exploded on a building site in Munich. Photo: picture alliance/dpa | Privat

Construction workers had been drilling into the ground when the bomb exploded, a spokesman for the fire department said in a statement.

The blast was heard several kilometres away and scattered debris hundreds of metres, according to local media reports.

Images showed a plume of smoke rising directly next to the train tracks.

Bavaria interior minister Joachim Herrmann told Bild that the whole area was being searched.

Deutsche Bahn suspended its services on the affected lines in the afternoon.

Although trains started up again from 3pm, the rail operator said there would still be delays and cancellations to long-distance and local travel in the Munich area until evening. 

According to the fire service, the explosion happened near a bridge that must be passed by all trains travelling to or from the station.

The exact cause of the explosion is unclear, police said. So far, there are no indications of a criminal act.

WWII bombs are common in Germany

Some 75 years after the war, Germany remains littered with unexploded ordnance, often uncovered during construction work.

READ ALSO: What you need to know about WWII bomb disposals in Germany

However, most bombs are defused by experts before they explode.

Last year, seven World War II bombs were found on the future location of Tesla’s first European factory, just outside Berlin.

Sizeable bombs were also defused in Cologne and Dortmund last year.

In 2017, the discovery of a 1.4-tonne bomb in Frankfurt prompted the evacuation of 65,000 people — the largest such operation since the end of the war in Europe in 1945.