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Die Welt:
— During the visit of German Chancellor Angela Merkel in Beijing, billion-dollar contracts between German and Chinese companies have been signed. Merkel stressed in her meeting with her Chinese counterpart, she believes that Germany is well placed in the race for Chinese investment.

Sueddeutsche Zeitung:
— Because of the continuing influx of refugees, the German cities will face expenditure in billions of euros. Accommodation, supply and integration of refugees could cost up to 16 billion euros in the next year, according to calculations by the German Association of Cities.

Frankfurter Allgemeine Zeitung:
— Germany’s largest bank Deutsche Bank will reduce the number of their employees in the next three years by almost 30,000. As the new Chief Executive Officer John Cryan announced on Thursday, the cost burden will be reduced by 3.8 billion to less than 22 billion euros. Enditem

Source: Xinhua

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