German court considers banning diesel cars in cities to tackle pollution

Cars pass by a sign reading ‘environment zone’ and allowing entrance just for cars with low emissions recognizable on a green sticker in Frankfurt, Germany. (dpa via AP)
Updated 22 February 2018
Follow

German court considers banning diesel cars in cities to tackle pollution

BERLIN: A German court began considering Thursday whether authorities should ban diesel cars from cities in order to lower air pollution, a move that could have drastic consequences for the country’s powerful auto industry.
The Federal Administrative Court in Leipzig is hearing an appeal by two German states against lower court rulings that suggested driving bans for particularly dirty diesel cars would be effective and should be seriously considered as a means of protecting public health.
The court has said a verdict could be issued as early as later Thursday. If judges reject the appeal, dozens of cities would have a few months to enact measures to remove heavily polluting diesel vehicles from the roads — an administrative nightmare for local authorities and a heavy blow to drivers who bought cars they were promised met emissions standards.
The original court cases were brought by the group Environmental Action Germany, which accuses the government of putting automakers’ interests before people’s health.
“We expect to be protected, that decisions will be taken which bring down emissions to a level that provides a healthy living for us,” said Axel Friedrich, a representative of the group.
German car manufacturer Volkswagen was found three years ago to have used in-car software to cheat on US diesel emissions tests. The discovery resulted in large fines and costly buybacks for VW in the US, but the German government has refrained from punishing VW, a major employer that’s partly owned by the state of Lower Saxony.
Apart from hitting Volkswagen and other German carmakers, officials warn that a ban could paralyze bus companies, garbage collection services and tradespeople who rely heavily on diesel vehicles.
The European Union is also putting pressure on Germany and other countries for failing to rein in air pollution.
In a bid to avoid punitive action by the EU, German officials recently proposed a series of steps to reduce harmful emissions, including making public transport free on days when air pollution is particularly bad, and requiring taxis and car-sharing companies to use electric vehicles.
Automakers are particularly worried about another government proposal: forcing them to physically upgrade millions of vehicles that don’t conform to emissions limits.
Protesters outside the Leipzig court said a diesel ban would make a positive difference in their lives.
“When I cycle, especially in winter, I have to breathe the emissions,” said Manfred Niess from Stuttgart. “I avoid breathing in deeply so as not to inhale all the poison.”


Saudi Arabia’s foreign reserves rise to a 6-year high of $475bn

Updated 22 February 2026
Follow

Saudi Arabia’s foreign reserves rise to a 6-year high of $475bn

RIYADH: Saudi Arabia’s foreign reserves climbed 3 percent month on month in January to SR1.78 trillion, up SR58.7 billion ($15.6 billion) from December and marking a six-year high.

On an annual basis, the Saudi Central Bank’s net foreign assets rose by 10 percent, equivalent to SR155.8 billion, according to data from the Saudi Central Bank, Argaam reported.

The reserve assets, a crucial indicator of economic stability and external financial strength, comprise several key components.

According to the central bank, also known as SAMA, the Kingdom’s reserves include foreign securities, foreign currency, and bank deposits, as well as its reserve position at the International Monetary Fund, Special Drawing Rights, and monetary gold.

The rise in reserves underscores the strength and liquidity of the Kingdom’s financial position and aligns with Saudi Arabia’s goal of strengthening its financial safety net as it advances economic diversification under Vision 2030.

The value of foreign currency reserves, which represent approximately 95 percent of the total holdings, increased by about 10 percent during January 2026 compared to the same month in 2025, reaching SR1.68 trillion.

The value of the reserve at the IMF increased by 9 percent to reach SR13.1 billion.

Meanwhile, SDRs rose by 5 percent during the period to reach SR80.5 billion.

The Kingdom’s gold reserves remained stable at SR1.62 billion, the same level it has maintained since January 2008.

Saudi Arabia’s foreign reserve assets saw a monthly rise of 5 percent in November, climbing to SR1.74 trillion, according to the Kingdom’s central bank.

Overall, the continued advancement in reserve assets highlights the strength of Saudi Arabia’s fiscal and monetary buffers. These resources support the national currency, help maintain financial system stability, and enhance the country’s ability to navigate global economic volatility.

The sustained accumulation of foreign reserves is a critical pillar of the Kingdom’s economic stability. It directly reinforces investor confidence in the riyal’s peg to the US dollar, a foundational monetary policy, by providing SAMA with ample resources to defend the currency if needed.

Furthermore, this financial buffer enhances the nation’s sovereign credit profile, lowers national borrowing costs, and provides essential fiscal space to navigate global economic volatility while continuing to fund its ambitious Vision 2030 transformation agenda.