Essen, Germany - One of Germany's two main electricity companies, RWE, said it signed up Thursday for a project to build two nuclear power reactors in Romania.

RWE is legally required to shut down its nuclear plants inside Germany over the next 15 years as Germany abandons atomic power, but the company has been advocating a return to nuclear power.

It initialled Thursday the investment terms for two new reactors at Cernavoda Power Station in Romania, RWE said at its main office in Essen, Germany.

Berlin - A world economic confidence index released Thursday and drawn up by leading German institute dropped to its lowest level in 20 years amid worries that the global economy faced recession.

The Munich-based Ifo institute said its world economic climate survey fell in the fourth quarter to 60 points from 73.4 points in the third quarter.

"Altogether the data points to a global recession," the institute said releasing the report, adding that the expectations for the coming six months have worsened further.

Berlin - A world economic confidence index released by a leading German institute Thursday dropped to its lowest level in 20 years amid worries that the global economy faced recession.

The Munich-based Ifo institute said its world economic climate survey fell in the fourth quarter to 60 points from 73.4 points in the third quarter.

"Altogether the data points to a global recession," the institute said releasing the report, adding that the expectations for the coming six months have worsened further.

Reykjavik - Germany on Thursday welcomed Iceland's agreement with the International Monetary Fund (IMF) on a 2.1-billion-dollar loan to tide it over a major financial crisis.

The deal paves the way for a quick settlement with some 30,000 German depositors in Kaupthing Bank, one of the North Atlantic nation's three main banking groups that recently collapsed over the global credit crunch.

Germany's Finance Ministry said it welcomed "Iceland's commitment to meet its obligations to depositors and ensure the fair, equal and non-discriminatory treatment of creditors."

Stuttgart - The crisis in the automobile industry is likely to get worse, the chi

Berlin - Smoke from a fire in the empty quarantine station at Berlin's Tegel Airport reduced visibility for planes taking off and landing Thursday, but an airport spokesman said there were no cancellations.

In continuous rain, firefighters worked to extinguish the blaze in a building where passengers with dangerous infectious diseases and illegally imported animals are normally kept. It had not been in use Thursday.

The spokesman said no one was injured. Tegel, which is one of Berlin's two international airports, is destined for closure when the other airport, Schoenefeld, has been redeveloped.