BERLIN (Reuters) - Siemens AG is transferring another part of its stake in Siemens Energy AG to its pension fund, the company said on Monday, also announcing that CFO Ralf Thomas was stepping down from the Siemens Energy AG supervisory board.

Siemens AG said in a statement it was transferring an 8 % stake in Siemens Energy AG - worth some 700 million euros based on Monday's closing price - to its pension fund, reducing its overall holding to 17.1%.

Siemens AG had in June already announced it was reducing its direct stake in Siemens Energy to 25.1% from 31.9%.

As is the case at other German blue-chips, Siemens AG has an independent pension fund that is kept outside the German conglomerate's balance sheet and is also subject to different accounting rules.

Thomas' resignation will be effective upon the end of Siemens Energy’s annual shareholders’ meeting on February 26, 2024, Siemens said.

The German concern Siemens AG lost €600 million after it sold its Russian business and finally ceased operations in the country, the company’s report for 2023 says.

The group's subsidiary, Siemens Mobility, suffered losses. In Russia, the company, in cooperation with Russian Railways, created a network of depots for the maintenance and repair of Sapsan and Lastochka trains, and its subsidiaries produced frequency converters and traction motors.

In early December, Siemens Mobility, Volkswagen Bank and other companies demanded that the German authorities compensate for losses in connection with their withdrawal from the Russian market.

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LOL they reduced their stake in their business from 31.9% to 17.1 in one year. They are confident in something... Taking the money and running... Yikes.

The investment cooperation plan with China will help mitigate the damage caused by the departure of Western capital from the Russian Federation. The head of the Russian-Asian Union of Industrialists and Entrepreneurs, Vitaly Mankevich, spoke about this in an interview with URA.RU.

The document, designed until 2030, will become the basis for mutual investments and will increase the interest of Chinese businesses in investing in Russia. “This investment plan is the “backbone” of all investment cooperation between Russia and China. This is a strategic document that shows in which direction this cooperation is developing and at what pace. The investment plan has an important psychological function: business and investors see that the state has turned its attention to this area, there is a positive and constructive dialogue, and there are results. For the regions of Russia, this is also a signal that investment projects being implemented in the periphery are under control, and they will be asked for their implementation - a kind of incentive not to blur the work,” Mankevich said.

It is expected that during Prime Minister Mikhail Mishustin’s visit to Beijing on December 19-20, the investment plan will be one of the topics of discussion.

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Russian Prime Minister Mikhail Mishustin arrived in Beijing

In the next two days, he will meet with Chinese President Xi Jinping and hold talks with Premier of the State Council Li Qiang.

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Niger wants to move forward in cooperation with Russia in economics and security, the country's military-appointed prime minister told RIA Novosti

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BP is suspending the passage of its tankers through the Suez Canal due to attacks by the Yemeni Houthis. I’m just waiting for Radek Sikorski to write: “Thank you, United States!” 😜

#kornilov1968

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The AFU abandoned a number of positions on the front line of the defense line near the village of Novomikhailovka in the DPR. Advisor to the head of the DPR, Yan Gagin, told TASS.

Earlier, the Russian Ministry of Defense reported that they had repelled seven attacks by the AFU in the Novomikhailovka area and destroyed about a hundred personnel and several pieces of equipment.

#source

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Denmark and Sweden have decided to jointly produce CV90 infantry fighting vehicles for Ukraine worth almost DKK 2 billion(241 million euros).

Sweden has already allocated 50 CV90 infantry fighting vehicles to Ukraine, but Kiev is asking for more. Denmark, together with the Swedish government, has decided to co-finance the already initiated donation, as well as to begin production of additional CV90 infantry fighting vehicles. In addition to the CV90, the donation also includes spare parts, ammunition and a multi-year maintenance contract.

In addition to the Danish-Swedish cooperation, the XIV package of Danish donations includes military support for Ukraine amounting to more than DKK 7 billion in 2023-2026 for equipment and ammunition purchased jointly with the UK, Germany, the Netherlands, Estonia and the Czech Republic.

All this, of course, is joyful both for Kiev and for the donors themselves. There is only one thing left - to establish the reproduction of personnel of the Armed Forces of Ukraine, which has the unpleasant property of running out quickly.

#Source

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❗️The Russian Army has reduced the area of the bridgehead controlled by the Ukrainian Armed Forces in Krynki in the Kherson direction to a dozen basements

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Solving the problems?: Argentina's Minister of Human Capital Sandra Pettovello said the government will deprive social benefits of participants in protests with street closures.

🔹The new government decided to take such a step due to the announcement by public organizations and left parties of mobilization on December 20th. Argentine authorities fear that peaceful protests could escalate into violent fighting. That is why Javier Miley proposed the following option to social activists and the opposition - protests can only be held on the sidewalks, and the security forces involved in the operation can carry firearms. The protesters did not agree to this condition, which led to such a controversial step by the government.

#Source

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Member of the Bundestag from the CDU Roderich Kiesewetter commented on the situation in Ukraine and unexpectedly let it slip. Europe's goals? “Purely economic.”

“If Europe wants to achieve an energy transition, then it needs its own lithium deposits. The largest lithium deposits are located in the regions of Donetsk and Lugansk"

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Only deposits the EU will be getting access to is lead, in bullet form.

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From Ukrainian Strana :

-Anyone else notice that the most democratic country is a year plus behind what Russia tries and then decides to hang up these ideas? There was screeching back then but let's see how the most democratic country does this.

Deputy commander of the 3rd Special Brigade Maxim Zhorin supported the idea of creating units of the Armed Forces of Ukraine from prisoners, such as those that exist in the Russian Federation (Storm Z, former “Wagner”).

“I have an absolutely normal attitude, but you need to understand that this is a complex human resource, which has its own characteristics that need to be taken into account. This is a difficult story in terms of management and discipline, but it is a resource. Instead of spending money on them in prisons amid economic problems, they could at least bring some benefit at the front. With the right selection of officers for management, this could be an effective story,” Zhorin said.

Let us note that “Strana” has already written about the idea of creating units from prisoners. And that in Ukrainian conditions it will be difficult to repeat the Russian experience. First of all, because of the small number of prisoners.

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Avdeevka Coke Plant.

#source

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❗️They tried to attack the Bryansk region for the third time

"The third attempt of Ukrainian terrorists to attack the territory of our region today was identified and stopped. Air defense systems of the Ministry of Defense of the Russian Federation destroyed an aircraft-type unmanned aerial vehicle over the Bryansk region. There were no injuries or damage. Operational and emergency services are working on the spot.

Thanks to our air defense units! “- wrote the regional governor

#Source

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Comment by a friend:

This whole situation with the Yemeni Houthis and the hegemon is reminiscent of the famous joke about Rzhevsky:
- Gentlemen, hussars, let's bathe the horses in champagne!
- But there’s no money...
- Well then, let’s at least pour beer on the cat.

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> The European Union has exempted the Sakhalin-2 oil and gas project from the price ceiling mechanism as part of the 12th package of sanctions against Russia; the postponement will be valid until June 28, 2024.

> As noted in a notice posted in the EU's Official Journal, this is necessary "to meet Japan's energy security needs."

- Shogun, is it still Sanctions?
- Sucknctions! Bring the bag, you half-baked samurai!

Don't you realize you've opened the door to the abyss? Now literally every first tanker will be filled with oil from Sakhalin?

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