“Repowering” New boost for wind power?

Status: 22.06.2021 3:09 p.m.

The expansion of wind power has not progressed as planned for years. Now the grand coalition has agreed on a number of measures that should give the industry a new boost. This week, the new Federal Climate Protection Act should pass the Bundestag and Bundesrat. It stipulates that Germany will become greenhouse gas neutral by 2045 – five years earlier than planned. By 2030, 65 percent of climate-damaging greenhouse gas emissions are to be saved compared to 1990. In order to achieve this goal, along with other measures, renewable energies must also make a major contribution. Wind power is one of them. The planned changes are essentially about making it easier to replace existing wind turbines, known as repowering. The new regulation is intended to facilitate the approval of new windmills at old locations and thus enable repowering that maintains the location. This also applies to wind farms that reach up to 350 meters from residential areas – provided that the loads from the new systems are not higher than the old ones. The aim is to make better use of existing wind sites with more modern system technology, said the politicians Matthias Miersch from the SPD and Stephan Stracke from the CDU.

There is still a lack of space

Lothar Schulze, CEO of the Wind Power Plants Association, maintains that repowering is facilitated “basically makes sense”, but criticizes the unchanged strict requirements for species protection. In addition, there is still a lack of space for new wind farms if the goal set by the federal government of reserving two percent of Germany’s land area for wind farms is to be achieved. Currently 0.9 percent of the area is designated for this, but only 0.5 percent can be used with modern systems. “This means that another 1.5 percent of the federal territory is missing, which means that a giant step has to be taken in the next legislative period”, said Schulze in conversation with tagesschau.de .

SPD parliamentary deputy Miersch also regretted that no agreement had been reached on binding land commitments for wind power. But at least he spoke of one “bridge” in the next legislative period. Green parliamentary group leader Anton Hofreiter criticized that there was only one “a couple of small funding programs” instead of “fundamental reforms”. “Very important and positive” On the other hand, association chief Schulze finds the increase in the tender volume for wind power to four gigawatts agreed for the coming year. However, it is only one “small compensation” the deterioration that has taken place since 2017. In fact, not all tenders were actually implemented between 2017 and 2020. “We would therefore have liked a perspective beyond 2022”, says Schulze. But this task will probably only be taken over by the new government.

Further loosening is necessary

Overall, however, the wind power industry is satisfied with the planned innovations. Material errors and limitations would be corrected. Despite the still too low approval procedures, the quantities were sufficient for 2022 and, due to the catch-up, also in the following years. The next government must, however, continue to promote the expansion of wind energy through further easing, also in the field of species protection, in order to increase the output to 5,000 MW per year, said Association Board Member Schulze.

Nevertheless, the controversial cases in the construction of new wind turbines have steadily increased in recent years. Since 2018, the expansion of wind energy has stagnated at 1,000 to 1,500 MW per year. In addition to the growing resistance from the population, this is also due to the different administrative practices from state to state. The industry also has the impression that new hurdles are always being sought. In the meantime, monument protection has also been included in the approval process for wind turbines. The compromise reached between the Union and the SPD over the past year also caused criticism from the industry Minimum distance from wind turbines to residential buildings . After that, each federal state can now determine which distance is permitted. This can be 1000 meters or less

Source: GPLP Rhino Finance (ID: gplpcn)

On June 19, Xueda Education (000526.SZ) announced that it would invest no more than 800 million yuan in entrusted financial management in the next 12 months. Entrusted wealth management will invest in short-term, low-risk bank wealth management products, structured deposits and monetary funds with high security and good liquidity.

Xueda education relies heavily on investment income. The annual report shows that in 2020, its investment income will reach 73.397 million yuan, accounting for 94.19% of the total profit. Among them, the income from long-term equity investment was RMB 8,899,300, the investment income during the holding period of transactional financial assets was RMB 1,189,600, the investment income from disposal of trading financial assets was RMB 47.593,000, and the income from bank wealth management products was RMB 15.716 million.

In addition, on June 19, Xueda Education issued another announcement stating that as of June 17, 2021, the company’s fund-raising account balance was about 559 million yuan, and about 247 million yuan of raised funds had been used. Among them, the adjusted investment projects and use plans of raised funds include: teaching online store construction project, teaching network optimization project, OMO online trading platform construction project, repayment of shareholder Ziguang Zhuoyuan’s loan, etc.

The financial report shows that in the first quarter of 2021, Xueda’s education revenue was 692 million yuan, a year-on-year increase of 15.31%; net profit was 5,366,900 yuan, a year-on-year increase of 133.47%, turning losses into profits.

It is worth noting that on May 18, the Beijing Municipal Education Commission issued the “Notice on Examining Problems Found in Off-campus Training Institutions”, which was on the Educational List of Xueda University. The reason for the notification was that it carried out improper advertisements such as low-price marketing and sales anxiety.

(This article is for reference only, does not constitute investment advice, and operates at your own risk accordingly)

Increasing number of passengers The US airlines lack pilots

As of: 22.06.2021 10:05 a.m.

The number of air travelers in the US is rapidly increasing again. In the meantime, the remaining pilots at some airlines are no longer sufficient to carry out all the planned flights.

By Torsten Teichmann, ARD studio Washington

The US airline Delta is looking for staff again. 1000 pilots are to be hired in the coming months. A year ago, in the middle of the corona pandemic and with constantly falling passenger numbers, the airline threatened to fire 1,700 pilots. In the end, the airline forced the unions to accept indirect wage cuts. Now Delta could even have to pay more for new employees in order to find staff again.

American Airlines is canceling flights as a precaution

American Airlines has similar problems. Especially on weekends, the number of pilots who have already been trained and tested is apparently not enough. In the event of delays and bad weather, flights are canceled because pilots would otherwise exceed their working hours and there is no one who can take over the shift. Now American canceled almost 1,000 flights for July as a precaution. The staffing level is so tight that the airline has been overwhelmed by rising demand and its own ambitious plans. The Wall Street Journal reports that there is also a frequent lack of ground crews to refuel aircraft.

Vacation trips partly at pre-crisis level

The number of vacationers in the US could return to pre-pandemic levels this month for some airlines. Delta expects the restrictions on transatlantic traffic to fall in the second half of the year. So far, travelers from Schengen countries such as Germany are still banned from entering the USA. US President Joe Biden has not yet announced that he will change anything

report

Mining in Bolivia Lithium rush in the Andes

As of: 06/20/2021 4:40 p.m.

The largest lithium deposits on earth are believed to be under the Uyuni salt lake in Bolivia. The planned dismantling of the metal, which is important for batteries, raises hopes, but is controversial because of the high water consumption.

By Anne Herrberg, ARD Studio Buenos Aires, and Matthias Ebert, ARD studio Rio de Janeiro

It lies dazzling white between the majestic peaks of the Bolivian Andes, an area nine times the size of Berlin: the Uyuni salt lake. Hidden underneath is a treasure: white gold, lithium, or as Panfilo Huayllas, Mayor of Rio Grande says: “our future”. He demands: “All communities around the salt lake and all Bolivians must benefit from the lithium that is under this salt crust.

Lithium, the lightest metal on earth, is required for lithium-ion batteries. They are not only found in cell phones and laptops, but also in electric cars. Without lithium there is no e-mobility – and nowhere in the world are more reserves believed than here, on the roof of the Andes.

Bolivia doesn’t just want to be a supplier of raw materials

But Bolivia wants to be more than just a supplier of raw materials. “We local residents have to share in the profits, because we will feel the effects of lithium industrialization here in Rio Grande,” says Mayor Huayllas.

Lithium is said to be a driver for Bolivia’s industrialization. The plan is to build the batteries yourself. Ex-President Evo Morales was once looking for partners for this project – and found them in a German medium-sized company: ACISA from Zimmer ob Rottweil on the edge of the Black Forest. It was a deal of the century. But it burst in 2019 , after the election overshadowed by allegations of fraud and Morales’ flight into exile. Since then, the German-Bolivian project has been on hold.

The lithium deal negotiated by ex-President Morales collapsed in 2019. Image: AFP

Not everyone is enthusiastic about it anyway. Luis Machaca is the spokesman for a citizens’ initiative that opposes the project. “The Germans wanted to mine our raw material behind our backs, with a contract for 70 years,” he says. “They may be a good partner, but they have neither the technical means nor the technology.”

Lithium mining uses up a lot of precious water

What does mining mean for people, but also for the sensitive ecosystem? It is about the most precious commodity on the roof of the Andes: water.

A look across the border into the Atacama Desert to Chile: SQM has been mining lithium there for 25 years. The brine is pumped up from 40 meters, then evaporates in basins over months until a lithium-containing slag remains. It is a very water-intensive process, of all places in one of the driest regions in the world, says the Chilean biologist Cristina Dorador. “We can see from satellite images over the past 20 years that the soil has lost moisture,” she says. At the same time, the ground is heating up and the vegetation is receding. “These changes are directly related to lithium production over the past 20 years.”

Water protection should be improved

The company promises to make mining more sustainable. In Chile’s new constitution, on which the biologist Dorador will also be co-writing, environmental and water protection should be a top priority. Local residents like Cristian Toroca remain skeptical. “The company had not previously intended to involve local residents, that bothers us about this group,” he says. “They’re pulling this mineral out of the ground to sell in Europe as a clean product, but that’s a lie.”

In Bolivia it is still unclear who will be awarded the contract: the Germans are competing with Chinese and US companies. Panfilo Huayllas continues to hope that the white gold will bring prosperity to his community. But he too says: not at any price. “Alternative ways of supplying lithium production with water in the future must be found. If they only tap our wells, we will ruin the future of our children.”

Promotion fund planned New women’s network for start-ups

As of: 06/17/2021 1:58 p.m.

Women are a rarity in the boardrooms of young companies. As a study shows, this is also due to the corporate culture. A new network wants to change that. According to a study, women rarely make it to the top of listed start-ups. “The young companies repeat the design flaws of the previous generation: They grow without women,” said Wiebke Ankersen and Christian Berg, heads of the non-profit AllBright Foundation. The German-Swedish organization advocates more women and diversity in management positions. The proportion of women on the executive floor at the ten companies that were founded in the past 15 years and are represented in the DAX index family is 5.4 percent. For the 160 companies in the DAX, MDAX and SDAX, the average is 12.6 percent.

Men dominate

According to the study, the top young companies, with the exception of the online furniture retailer Home24 and the pharmaceutical company Medios, are almost exclusively made up of men. “The founders often surround themselves with people who are very similar to them and hold on to them,” says the study.

Delivery Hero is the only company in the top stock exchange league that still specifies the “target size zero”. This means that the DAX company has so far been planning the board of directors without women. The company declares that the composition of the management board has proven itself. “Of course, this does not rule out an increase in the proportion of women at this management level.”

Politicians decide on new quotas

A draft law recently passed by the Bundestag stipulates that in future at least one woman must sit on the board in listed and codetermine companies with more than 2000 employees and more than three board members. This must be taken into account when filling new posts.

According to the draft law, other companies that do not fall under the requirement should justify in future if they plan to run the board without women. If this does not happen, fines are to be threatened.

New investment network for start-ups

In order to support women in setting up companies, around 60 managers from large corporations and politicians have set up a network of women supporters. With their association encourageventures they want to accompany “female founders from the founding idea to the IPO” if at least one woman belongs to the founding team, explains initiator Ina Schlie.

For this purpose, the establishment of an “all-female growth fund” worth 100 to 200 million euros is planned, from which the support will be provided. Startups run by women have a harder time raising capital. “According to the Female Founders Monitor 2020, only five percent of the female founders’ teams have already received one million euros or more in external capital,” said Alexa Gorman from the software company SAP. “In the case of the founding teams, on the other hand, it is around 30 percent.” In addition to Schlie and Gorman, the network includes, among others, the former Minister of Economic Affairs Brigitte Zypries, the head of freight transport at Deutsche Bahn, Sigrid Nikutta, and Douglas boss Tina Müller

Manufacturers deliver less Vaccination campaign could stall

Status: 16.06.2021 2:47 p.m. In Germany there will be fewer BioNTech cans available next month. Johnson & Johnson is also delivering less than planned. The German vaccination campaign could suffer a setback as a result. The vaccine manufacturer BioNTech will deliver significantly less vaccine to Germany in July than in June. Instead of 5.7 million cans for the last week of June, only 3.2 million cans are planned for the first week of July (KW 27). But there could be no question of a surprising cut, said a spokesman for the Federal Ministry of Health. Rather, BioNTech preferred deliveries in June that were actually intended for later. It was always clear that the delivery volume of the Mainz manufacturer in the third quarter would be around 40.2 million vaccination doses lower than the around 50 million in the second quarter. So far there has only been a clear delivery promise for the first week of July with 3.235 million cans. After that, around 3.3 million doses per week can be expected. That was also communicated to the federal states. SPD health expert Karl Lauterbach therefore warns of a setback for the vaccination campaign: “If the BioNTech deliveries fall so sharply, it will be difficult to demonstrate herd immunity before mid-September,” he told the “Spiegel”. At the same time, it is shown that the delta variant is highly infectious and sometimes causes severe disease. “That’s scary,” said Lauterbach.

06/02/2021

6.5 million fewer doses from Johnson & Johnson

The US pharmaceutical company Johnson & Johnson (J&J) will also deliver significantly fewer vaccine doses than planned. The European Commission expects that J&J will not be able to meet its delivery targets to the EU for the second quarter. The reason for this is a decision by the European Medicines Agency (EMA), according to which 17 million doses of the vaccine cannot be used in the EU for safety reasons after cases of contamination have occurred in a US plant. The group will therefore probably not reach its delivery target of 55 million cans by the end of June, says a commission spokesman. So far, only around twelve million cans have been delivered. The Federal Ministry of Health estimates that J&J will be able to deliver around 6.5 million fewer doses to Germany than planned by the end of June because of the breakdown. “That is unfortunate, because every vaccine counts,” said a spokeswoman. The ministry expects the missing quantity to be replenished in July.

June 16, 2021

Waiting for Sputnik and Curevac

The Germans will probably have to wait even longer for the Russian vaccine Sputnik V, because, according to government circles, approval will be postponed “probably to September, maybe even to the end of the year”. The reason is that the Russian manufacturer has not yet submitted the necessary clinical trial data to the European Medicines Agency (EMA), the news agency Reuters learned from government circles. The clinical dossier was supposed to be available by June 10th. The Russian state fund RDIF, which sells Sputnik V, described the information as incorrect. All the necessary data on the clinical studies have been submitted and received positive comments. Initially, no comments were received from the EMA. The vaccine from Curevac is also not yet available. The vaccine from the Tübingen company, once praised as a bearer of hope, is still not approved. The Federal Ministry of Health has therefore canceled the delivery of 1.4 million vaccine doses originally planned for the current second quarter. According to health expert Lauterbach, the delay in approval could indicate that the effectiveness of the Curevac vaccine is not looking good.

06/07/2021

Moderna delivers a little more

Meanwhile, there are increasing complaints about the shortage of vaccines – from company doctors, general practitioners and some vaccination centers. The calls from some prime ministers for more vaccine also persist – while millions of Germans are still waiting for an initial vaccination. There is positive news from Moderna: The US manufacturer will increase its delivery volume compared to June, from 622,000 to 733,000 cans per week. In addition, Schleswig-Holstein is giving part of the AstraZeneca vaccine provided by Denmark to Hamburg. Thanks to the delivery, at least 8,000 new appointments can be made in the vaccination center in the megacity since today. The neighboring state does not manage to use the cans from Danish stock in time before the expiry date at the end of June.

background June 15, 2021

The Tianfu Greenway system is “one axis, two mountains, three rings, and seven belts”. Guixi Ecological Park is located on the Jincheng Greenway, one of the three rings. This “ring” refers to the expressway around the city. , Because the ecological background is the best here, it is also the earliest point for the start of the entire Jincheng Greenway. In addition, Tianfu Avenue, the north-south traffic artery of Chengdu, just passes through the park, and this has become one of the good places to enjoy the streetscape of Chengdu. Standing on the bridgehead and looking around, you can see the tall buildings here, although it is one of the most prosperous areas in Chengdu. First, it is also full of greenery, and the environment is very good, without the depressive feeling of the urban forest. Among the many buildings, the most conspicuous one is the Global Center next to the greenway. I believe this building is the largest single building in Asia, and it is also a commercial complex with the design concept of “flowing melody”. It not only covers the New Century Shopping Center of various brands, but also has Paradise Island Ocean Park, one of the world’s largest artificial beaches, and the internationally renowned hotel Paradise Intercontinental Hotel, which can be called one of the landmarks of Chengdu. The park has an excellent natural environment. Currently, a 6-meter-wide primary greenway of 2.3 kilometers and a 4-meter-wide secondary greenway of 5.5 kilometers have been constructed. There are more than 30 varieties of hibiscus in blooming hills and mountains. , There are more than 30,000 Hibiscus Misty Rain, which can be said to be a scene one step at a time. Even the lotus flowers are blooming in the nearby shallows. It seems that summer has already come. Not only that, for the convenience of visitors, there is basically a bench for visitors to rest every 50 meters in the park, as well as 15 public toilets, which solves the “worries” of visitors. At the same time, it does not charge tickets, so it is also allowed here. It has become a good place for surrounding residents to take a leisurely stroll. The catering facilities in the park are also gradually improving. For example, there is an ancient tea restaurant Zunsheng Yard dedicated to reviving the aesthetics of life in traditional culture and spreading a healthy and interesting lifestyle. In it, you can taste tea, taste Chinese dim sum and some traditional handicrafts. , There are also BISTRO-X Xichu, Nantang Tingxiang, Miyuan Coffee, etc. dinner and afternoon tea shops, fast food KFC is also about to open, there are many such as badminton courts, tennis courts, basketball courts of the straight arena, etc. Sports venues are simply a train of sports and leisure. It is for the above reasons that Guixi Ecological Park has become one of the typical representatives of Tianfu Greenway, and Tianfu Greenway Planning Exhibition Center is also here. The 1,700-square-meter steel structure and all-glass façade circular single building also makes it a scenic line in the park. The exhibition center does not charge tickets, and it can be visited freely. The Miyuan Coffee just mentioned is on the second side of the exhibition center. floor. The center stated the goal of the Tianfu Greenway, which is to enable the people of Chengdu to “push the windows into the wild and open the door to see the green” and build Chengdu into a “garden city under the snow mountain”. This is not bragging. The Tianfu Greenway was mentioned earlier. The system is “one axis, two mountains, three rings, and seven belts”, so what is the total length? According to the information checked inside, the length of the Tianfu Green Road is about 16,930 kilometers of regional-level green road! The prefecture-level green roads of this scale are beyond the reach of other cities. In addition to the data, the first floor of the center is also combined with the tour line to set up a circular LED screen, through VR technology and three-dimensional display, etc., to fully display the results of the Tianfu Greenway planning and construction to tourists, just touch the screen on the table, Tianfu Green The names, scenic spots, and promotional videos of other sections of the road will be projected on the big screen, which makes people clear at a glance. At the same time, I look forward to the early stringing of green roads everywhere, so that the reputation of “Huazhongjinguancheng” is also Will continue. Travel Tip: Nearby bus station: Guixi Road Middle/Guixi Interchange East Nearby Metro Station: Jincheng Square Metro Station/Century City Station Via bus: 84 Road, 15 Road, 171 B Road, 188 Road, 801 Road, etc. Parking nearby: Guixi Ecological Park-West District Yizhou Avenue parking lot distance Guixi Ecological Park-West District Liangjiang International Parking Lot Guixi Ecological Park-Shilong Plaza Pavement Parking Lot Guixi Ecological Park-Kehua Road South Extension Parking Lot Guixi Ecological Park-East District Underground Parking Lot The picture/text is original by Xia Xia Xia, a travel mad, unauthorized reprinting is prohibited About the author: I have traveled to 500+ cities around the world, and have studied abroad at Oxford University in the UK and Waseda University in Japan, as well as an international volunteer in Sri Lanka. Welcome to continue to pay attention and share with you the food, drink and fun of the world. If you like, remember to like and comment. Or share!

In the 2021 annual general meeting of shareholders on the morning of April 23, Mr. Le Quoc Binh, General Director of the company, explained the reason. Mr. Binh said that CII really wants to pay dividends because the BT project of Thu Thiem new urban area (total investment of over 10,000 billion dong) will finish this year and create cash flow for the company. However, this cash flow is late, and the debt index of the company at the end of 2020 will increase due to having to issue a large amount of bonds. In fact, bondholders forced CII to stop paying dividends to shareholders. Besides, the negotiation with foreign partners is quite difficult, so it is impossible to say when it is possible to close the right to pay dividend, Mr. Binh said. Shareholders suggest the company should use retained earnings from previous years to pay dividends in cash for shareholders. In response, Mr. Binh shared that according to the law, in order to pay dividends, the debt obligation criteria must be guaranteed in advance for a third party. Not to mention, CII needs to accumulate money to invest. Mr. Binh noted that it will be difficult for the company to ensure both debt repayment and investment and also pay dividends to shareholders. Therefore, Mr. Binh suggested that shareholders agree to the decisions of the Board of Directors to distribute profits, but Mr. Binh also affirmed that the company will do its best to ensure dividends to shareholders. 2021 is 12% cash (1,200 dong / share) “. The audited consolidated financial statements show that by the end of 2020, CII’s total liabilities are over 21,761 billion dong, of which short-term debt is 8,293 billion dong and long-term debt is over 13,468 billion dong. Debt to equity ratio is about 2.81 times. At the end of the stock trading session on April 24, the price of CII stock was temporarily stopped at VND 21,350 / share, a slight increase compared to the previous session, but down more than 6% within a week. CII share price fell by nearly 12% within a month and nearly 8% within a quarter.

According to CNN, Moscow said it had ended “rapid inspections” of troops in the east and west of the country. Illustration. Source: CNN The process of rallying Russian troops along the border in recent weeks has created tensions in eastern Ukraine. Russian Defense Minister Sergei Shoigu said that the country’s army has completed drills near Ukraine and will return to its permanent base before May 1. “I am confident that the exercise objectives are completed. The military has demonstrated its ability to provide a reliable defense force to the country,” Shoigu said at a meeting in Crimea. Shoigu’s announcement came weeks after Moscow initiated the largest military surge near Ukraine’s border since 2014. The European Union estimates that more than 100,000 troops have gathered near the border and in Crimea. However, the announcement does not specify how many troops will remain in the area after Moscow intends to withdraw before May 1. US Department of Defense spokesman Ned Price confirmed that the US would continue to closely monitor the situation along with Ukrainian officials and other allies. “What we are looking for now is action on the Russian side,” said Ned Price. “We have made clear our commitment to the Russian government, reaffirming efforts to curb the escalation and immediately cease all provocations around Ukraine, including military mobilization. Crimea and the Ukrainian border as well as its intention to block ships in the Black Sea, “Pricwe said at a press conference. Russian state news agency TASS said that some weapons from the 41st Army, including tanks and heavy artillery, will be left in preparation for the Russian-Belarus strategic military exercise Zapad 2021 taking place in May. Nine years now. The move is believed to have caused Russia to increase fire tensions on the Ukrainian border more than before. It is too early to reduce escalation Conflict Intelligence (CIT) says it is too early to assess the de-escalation process in this area. “Russian forces staying in the Ukraien border are still in danger of deploying east of Ukraine, while a large-scale invasion of the government-controlled territory will inevitably still have to mobilize more forces to the border. “Conflict Intelligence Team (CIT) said on Twitter. On April 20, the Russian Defense Ministry said more than 20 ships took part in the exercise in the Black Sea – bordering both countries. “A ship unit comprising the Admiral Makarov and Admiral Essen frigates; the small missile ships Grayvoron and Vyshny Volochek with the missile ships; the small anti-submarine and large amphibious ships conducted the exercises. repulsion of the enemy’s aerial attack vehicles. Russian Defense Minister Shoigu said the Russian military was ready to react quickly to any “adverse” developments amid NATO’s ongoing Defender Europe military exercises. NATO’s Defender Europe 2021 exercise is an annual multinational exercise led by the US military to prepare for readiness and interoperability between the United States and the military of NATO partners. The exercise was canceled last year due to the complicated developments of the epidemic. “Each year in Europe, the alliance organizes more than 40 major combat drills with a focus on dealing with Russian challenges. In the spring of this year, NATO’s joint armed forces began the exercises. The biggest ambitious match in 30 years “, Russian Defense Minister Sergei Shoigu said. The NATO alliance expressed deep concern about Russia’s military deployment near Ukraine. NATO Secretary-General Jens Stoltenberg last week described the move as part of a provocation from Russia. “Allies fully support Ukraine’s sovereignty and territorial integrity. We urge Russia to immediately de-escalate, stop provocative actions and respect international commitments,” said Shoigu. to speak. Ukrainian President Volodymyr Zelensky earlier this week invited President Vladimir Putin to a meeting in Donbass, urging his Russian counterpart to restore a ceasefire in the eastern region that put “millions of lives” at stake. “President Putin said he is ready to discuss bilateral relations with President Zelensky in the Russian capital,” TASS reported. Ukraine is calling for increased international support in a state of tension with Moscow while calling on the West to introduce new sanctions to prevent the Kremlin from deploying more military forces.

From Eva Lamby-Schmitt, ARD capital studio It was a shock for investors and experts alike when three companies in the P&R group of companies went bankrupt – completely surprising. 54,000 investors feared for their money . Together they had invested more than three billion euros. The billion-dollar bankruptcy of the container rental company P&R has shown: That Small Investor Protection Act of 2015 is not enough. The protection of investors must be further strengthened, according to the federal government’s draft law, which the Bundestag is discussing for the first time today.

Facilitate risk assessment

The main thing is more transparency, explains Sarah Ryglewski, Parliamentary State Secretary at the Federal Ministry of Finance. “By publishing documents on the BaFin website on which investors base an investment decision,” she explains. In this way, private investors should be able to better assess the risks in the future. In addition, advisors and investment brokers are to be supervised by the Federal Financial Supervisory Authority (BaFin). “That is a clear step and has not been the case so far,” says Ryglewski, “so we also say here: In future, sales may only be permitted by supervised consultants and intermediaries.”

Prohibition of “blind pools” planned

A certain form of investment is to be banned completely in the future: so-called “blind pools”. This is a form of investment in which it has not yet been determined which specific investment objects will be financed with the investor’s money. “That is simply not suitable for private investors because they do not know what they are investing in and the possible risk is not really clear either,” says Ryglewski. “In the future, no more money may then be collected from private investors through publicly offered investments.” The ban on blind pools is the right step, says Stefan Loipfinger, an analyst at investmentcheck.de. But in his opinion the draft law is not enough to protect investors from fraud. “In future, the legislature will prevent providers from being allowed to sell products themselves. But it does not prevent investment brokering from taking place,” says Loipfinger.

The use of funds is to be monitored in the future

But at least: A case like the one at P&R, in which the company used the investors’ money for purposes other than intended, is no longer possible with the new law, explains Loipfinger. “Because there has to be a control of the use of funds who checks that an investor’s money actually flows into the investments, as stated in the prospectus.” For Stefan Schmidt from the Green parliamentary group in the Bundestag, the new draft law is a step in the right direction. “However, you have to look at this in detail again to see whether the measures are really sufficient or whether – from my Greens perspective – you don’t even have to go a little further.” In the end – everyone agrees – it is important that investors are well informed and advised on their behalf. The FDP member of the Bundestag Florian Toncar is calling for less bureaucracy. “More paper alone is not the solution. It is more that we talk about the quality of information, that we make it clearer and uniform for all product categories.” Clear information – that is exactly what well-informed investors need.