Passengers wait on a regional railway station in Munich, southern Germany, during a wage strike by German train drivers on September 4, 2021. Christof STACHE / AFP
German rail operator Deutsche Bahn made an improved offer to train drivers on Saturday in a bid to avert a fourth strike in a pay dispute that has already paralysed large parts of passenger traffic over the holiday season.
The GDL drivers union ended its third and longest strike in this pay round on Tuesday in action that left passengers stranded and hit freight services in Europe's biggest economy.
It threatened to call a new strike if state-owned Deutsche Bahn did not come up with a better offer by early next week.
In addition to a 3.2% wage rise staggered over 36 months and a coronavirus bonus for 2021, both of which were already on the table, Bahn said it had offered an additional component and was ready to review the scope of the GDL union's collective bargaining arrangements.
It also said it had made some commitments on pensions.
"A wage deal with the GDL is overdue," said Bahn head of human resources Martin Seiler in a statement, demanding that the union return to negotiations quickly.
Among its demands, the union wants a wage increase of 3.2% but with earlier payouts and a coronavirus bonus of 600 euros.
The United States is introducing new tariffs on imports from 60 trading partners, including the European Union, China, Japan and South Korea, in a move that could reshape global trade flows and supply chains.
A long-awaited US-India trade agreement could be signed within the next three to four months, a senior US official said on Wednesday, indicating negotiations between the two sides have been virtually completed.
Alphabet's GOOGL.O Google was fined a total of €890 million ($1 billion) on Thursday for flouting European Union rules aimed at reining in the power of Big Tech, the European Commission said.
US President Donald Trump has announced sweeping new tariffs of up to 50 per cent on a broad range of Canadian imports, opening a new front in the trade dispute between the neighbouring countries.
Fitch Ratings has assigned Invest Bank (INB) its first long-term credit rating of BBB+ with a stable outlook, marking the institution’s strong financial profile and positioning the bank for sustainable long-term growth.
The UAE has joined seven regional countries in condemning what they described as Israeli escalations at the Al Aqsa Mosque compound in occupied East Jerusalem.
The United Arab Emirates has condemned in the strongest terms the attack by the Houthi group targeting the Saudi-flagged vessel Encelia while sailing in the Red Sea.
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has held talks with His Highness Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah.