German investment abroad soars

The weak dollar and pound helped German investment abroad to rise DM53bn (pounds 19bn) to DM362bn between the end of 1993 and 1995, the Bundesbank said in its May monthly report published yesterday. The Bundesbank said that direct investment in Germany rose DM47 bn to DM271 bn from DM224 bn in the same period. The bank said: "More than 70 per cent of the rise in German investments abroad - around DM39 bn - was in the other fourteen lands of the European Union," the bank said. More than half of the existing total German investment was in the EU

area.