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Germany allows smaller Chinese stake in Hamburg port
Germany allows smaller Chinese stake in Hamburg port

Germany's coalition government on Wednesday allowed a Chinese firm to take a smaller-than-planned stake in a Hamburg port, after Chancellor Olaf Scholz resisted calls to ban the controversial sale outright. Scholz, a former Hamburg mayor, had supported the sale and has repeatedly stressed the importance of strong trade ties with China.

Mercedes-Benz to sell off Russian assets to local investor
Mercedes-Benz to sell off Russian assets to local investor

German carmaker Mercedes-Benz is expected to sell its Russian assets to a local investor, the Russian ministry of industry and trade said Wednesday, becoming the latest automaker to exit since Moscow sent troops to Ukraine. "Mercedes-Benz intends to sell its shares in Russian subsidiaries to a local investor," Avtodom, the ministry said in a Telegram statement.