SHANGHAI: Tesla cut car prices in China for the second time in less than three months on Friday (Jan 6), deepening its discounts in the world’s largest auto market as competition picks up and the demand outlook darkens. The latest cut, along with a reduction in October as well as […]
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BEIJING: China’s manufacturing activity contracted sharply in December for the third month in a row, according to official figures released on Saturday (Dec 31), despite Beijing’s loosening of COVID-19 restrictions at the beginning of the month. The Purchasing Managers’ Index (PMI) – a key gauge of manufacturing in the world’s […]
China will scrap quarantine for travellers from 8 January, officials said, marking the last major shift from the country’s zero-Covid policy. Travellers wait with their luggage at Beijing Capital International Airport, amid the coronavirus disease (COVID-19) outbreak in Beijing, China December 27, 2022. After three years of closed borders, […]
CEO Elon Musk’s preoccupation with Twitter after taking over the tech firm in late October and his sell-off of Tesla shares to fund his Twitter purchase has also contributed to the plunge in stock price SINGAPORE: Tesla’s shares are at their lowest level in years, with the company’s shares dropping […]
SINGAPORE : Chinese refining giant Sinopec Corp has appointed Zhong Fuliang, vice president of its trading arm Unipec, as the new managing director of the unit, according to a company representative. Zhong, 54, replaces Chen Gang, who is set to hand over the managing director’s position in January after reaching […]
SEOUL : Samsung Electronics plans to increase chip production capacity at its largest semiconductor plant next year, despite forecasts of an economic slowdown, a South Korean newspaper reported late on Sunday. The move contrasts with the scaling back of investment by rival chipmakers amid falling demand and a glut of […]
TOKYO : Toyota Motor Corp reported on Monday a 1.5 per cent rise in November global vehicle output, reaching a new record of 833,104. Domestic production slid 3.3 per cent to 266,174 vehicles, while overseas output rose 3.8 per cent to an all-time high of 566,930 for the month. Global […]
SINGAPORE : In a year when Indian equities emerged as the best performers in Asia and the country took advantage of a structural shift in supply chains from a pandemic-hit China, forecasts of robust economic growth are set to keep stocks on a firm footing. India’s Nifty 50 index struck […]
Tesla Inc is offering discounts on Model 3 and Model Y vehicles delivered in the United States and Canada this month, sales pages on its website showed on Wednesday, amid concerns the automaker is facing softening demand as economies slow. The company is giving a $7,500 credit in the United […]
NEW YORK: Billionaire Elon Musk said yesterday he will step down as chief executive of Twitter Inc TWTR.N once he finds a replacement, but will still run some key divisions of the social media platform. “I will resign as CEO as soon as I find someone foolish enough to take […]