From trains to tanks: Germany’s rearmament marks industrial shift

For three generations, the Liebigs have made a living building double-decker railcars in the easternmost German town of Görlitz. But those who come after Carsten Liebig will now build weapons, not trains. Starting next year, Görlitz’s 176-year-old train factory will start producing components for Leopard II main battle tanks and Puma infantry fighting vehicles after…

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The rise of the trophy SWF

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Danantara, the new sovereign wealth fund in Indonesia, is a project of surpassing ambition. Taking possession of $900bn in public assets, it will divert about 0.6 per cent of GDP a year from the state…

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