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German sons leave home at average age of 24.5, daughters at 23

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More than a quarter of 25-year-old adults in Germany were still living in their parents’ house in 2022, according to figures by the Federal Statistical Office published on Tuesday.

In 2022, 9.2 per cent of people aged 30 were still living with their parents.

Sons continued to live at home longer than daughters: young men were on average 24.5 years old when they moved out, young women were 23.

The average age of moving out in Germany was 23.8 years across genders.

This is relatively early in an EU-wide comparison, where the average age is 26.4 years, the statistical office reported, citing estimates by the EU statistics authority Eurostat.

Southern and eastern European countries had a higher average.

In Croatia, the average age to leave home was the highest in the EU at 33.4 years, followed by Slovakia at 30.8 and Greece at 30.7.

Young people left home earlier in Northern European countries.

In Finland on average at 21.3 years, in Sweden at 21.4 years and in Denmark at 21.7 years, the statistical office reported.

In all EU countries, women were more likely to move out of their childhood homes at a younger age than men.

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Putin Registers As Candidate For Russia’s Next Presidential Election

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Russia on Monday officially recognised Vladimir Putin as a candidate for the presidential elections in March, a vote that he is all but certain to win.

The 71-year-old has led Russia since the turn of the century, winning four presidential ballots and briefly serving as prime minister in a system where opposition has become virtually non-existent.

The Central Election Commission said it had registered Putin, who nominated himself, as well as right-wing firebrand and Putin-loyalist Leonid Slutsky as candidates for the vote.

The election will be held over a three-day period from March 15 to 17, a move that Kremlin critics have argued makes guaranteeing transparency more difficult.

Following a controversial constitutional reform in 2020, Putin could stay in power until at least 2036.

Rights groups say that previous elections have been marred by irregularities and that independent observers are likely to be barred from monitoring the vote.

While Putin is not expected to face any real competition, liberal challenger Boris Nadezhdin has passed the threshold of signatures to be registered as a candidate.

However, it is still unclear if he will be allowed to run, and the Kremlin has said it does not consider him to be a serious rival.

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Hong Kong court grants Chinese real estate giant reorganisation postponement

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Hong Kong’s Supreme Court has once again granted the highly indebted Chinese real estate giant Evergrande a postponement for its reorganisation plan.

Judge Linda Chan surprisingly postponed the decision until Jan. 29, the South China Morning Post reported on Monday.

The property developer, which has liabilities estimated at more than 300 billion dollars, is threatened with liquidation.

However, creditors from abroad had taken the company to court because of its missing several payments.

Chan had already said at the previous hearing that this would be the last postponement and that she would very likely agree to liquidation if China Evergrande did not find a plan for restructuring with its creditors.

According to reports, however, the lawyers of the Hong Kong-listed group had now held out the prospect of being able to reach an agreement with the lenders in the coming weeks.

In the case of liquidation, an insolvency administrator would monetise the company and pay out the creditors.

Meanwhile, some experts were of the opinion that liquidation would return less money to creditors than a reorganisation, China Evergrande argued the same in court, according to reports.

The group had been trying to submit a restructuring plan since 2022, without success. Its founder and once China’s richest man, Hui Ka Yan, is being investigated by the Chinese authorities.

Like many other property groups, the company had been in a serious crisis for some time because it is earning significantly less on the slumping property market.

The company is finding it more difficult to obtain state support and is no longer able to service its loans.

“The Evergrande case also shows that the era of large private property developers in China is coming to an end,’’ says Max Zenglein from the Merics China Institute in Berlin.

If Chan decides to wind up China Evergrande, this could also have an impact on other companies.

“One challenge for the government will be to prevent domino effects in the economy caused by major bankruptcies,’’ says Zenglein.

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