China Drives Tesla’s Success as Model Y Becomes World’s Top Seller: China has emerged as the largest market for Tesla’s Model Y electric sport utility vehicles, propelling it to become the world’s best-selling vehicle in the first quarter of this year, according to data from market research firm JATO, as…
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Opening the Gates to Innovation In an exciting move towards fostering digital asset innovation, Sberbank, the largest bank in Russia, has announced the expansion of developer access to its cutting-edge decentralized finance (DeFi) platform. Alexander Nam, the head of Sberbank’s Blockchain Lab, revealed this groundbreaking development during the bank’s recent…
Nigerian stocks surged to a two-month high on Tuesday, a day after President Bola Tinubu was sworn in and announced a series of economic reforms to revive the country’s struggling economy. The main equity index rose by 5.2 per cent, adding over N1.5 trillion to the value of shares. Investors…
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Skoda Auto, the prominent Czech carmaker, is embarking on an ambitious plan to shift its production focus towards electric vehicles (EVs). Martin Jahn, the company’s board member for sales and marketing, revealed in an interview with daily E15 that the majority of Skoda Auto’s production after 2025 will consist of electric cars. This strategic move aligns with the global trend towards sustainable mobility and reflects Skoda Auto’s commitment to a…
Tanzania Investment Centre (TIC) is in advanced discussions with Toyota Motor Corporation (TMC) from Japan regarding the potential establishment of an assembly plant in Tanzania. According to TIC’s Senior Investment Officer, Ms. Latiffa Kigoda, the details of the investment will be disclosed after the July meeting. Promising Talks between TIC and Toyota Ms. Kigoda confirmed that Toyota has expressed a keen interest in investing in Tanzania. A delegation of five…
Asian Productivity Organization Concludes 65th Governing Body Meeting, Fostering Regional Collaboration for Productivity Growth
By Mamoon Alvi
The Asian Productivity Organization (APO) successfully concluded its 65th Governing Body Meeting (GBM) in Ulaanbaatar, Mongolia, from May 24 to 26. The event brought together 44 APO Directors, Alternate Directors, and Advisers from 19 member countries to review and deliberate on the organization’s progress, strategic directions, policies, and programs. Inaugural Session Sets the Stage for Productive Discussions The GBM commenced with an inaugural session featuring a vibrant cultural performance. Yamaaranz…
Consumer Lawsuit Challenges Delta’s Carbon Neutrality Claims Delta Air Lines faces a consumer class action lawsuit filed on Tuesday, accusing the airline of falsely presenting itself as the world’s “first carbon-neutral airline” and seeking damages. The complaint, filed in federal court in California, claims that Delta relied on carbon offsets that were largely ineffective. Scrutiny on Carbon Offsets and Delta’s Involvement Companies worldwide purchase carbon credits to offset their emissions by investing in projects that aim to absorb carbon dioxide…
Sierra Leone, along with four other African Development Bank (AfDB) member countries, has pledged to contribute a minimum of $1 million to replenish the African Development Fund (ADF), the concessional window of the Bank Group. The agreement was formalized during the African Development Bank Group’s 2023 Annual Meetings held in Sharm El-Sheikh, Egypt. Enhancing Economic Resilience and Sustainable Development With a focus on poverty reduction and economic development in least-developed African nations, the African Development Fund plays a vital role…
France has inaugurated its first-ever electric car battery factory, marking a significant milestone in the nation’s ambition to reindustrialize and compete with China in the thriving electric vehicle market. The “gigafactory” in Billy-Berclau, northern France, is jointly owned by Automotive Cells Company (ACC), a partnership between energy giant TotalEnergies, Mercedes-Benz, and Stellantis, the parent company of Peugeot, Fiat, and Chrysler. With the CEOs of these companies in attendance, along with government officials from France, Italy, and Germany, the plant’s inauguration…
Rescue 1122 and Civil Defense demonstrate readiness in the flood preparedness exercise
By Rizwan Shah
The mock exercise conducted by Rescue 1122 to prepare for the monsoon floods Under the supervision of District Emergency Officer Ali Hussain, a mock exercise was conducted by Rescue 1122 in Shadi Khan, located along the Indus River. The exercise aimed to enhance the readiness of the rescue teams in dealing with potential flood situations during the upcoming monsoon season. Relief camps and control rooms established by Rescue 1122 and welfare organizations In collaboration with various institutions and private welfare…
XacBank, one of the prominent financial institutions in Mongolia, has announced its plans to sell 5.01% of the total number of shares in the primary market. The bank aims to raise a substantial amount of 35.7 billion tugriks through this offering, which will support its expansion initiatives and further strengthen its position in the financial sector. Customers and Investors Engage in Pre-Order Placement The process of placing pre-orders for XacBank shares has commenced, allowing the bank’s valued customers and investors…
A recent five-day expo held in Herat, Afghanistan, has proven to be a resounding success, attracting over 20,000 visitors and facilitating the signing of numerous contracts between business owners, investors, and traders from various provinces. The event, organized by the Herat Chamber of Industries and Mines, provided an opportunity for factory owners to showcase their products in 120 booths, with an impressive range of items on display, including dairy and consumable products, plastic goods, medicines, and home appliances. Expo Draws…
OGBL Commerce Union Highlights Lack of Transparency in Negotiations The OGBL Commerce union has raised concerns over the lack of transparency in the communication of Coca-Cola Luxembourg’s financial statements during negotiations for the renewal of the collective labor agreement. The union expressed disappointment that the management did not provide clear financial information specific to Luxembourg, instead presenting figures for both Belgium and Luxembourg, which made it difficult to assess the precise financial situation of the company in Luxembourg. Management’s Refusal…
Energy Sector Declines Amidst Falling Crude Oil Prices On Tuesday, Canada’s main stock index experienced a decline due to losses in commodity-linked stocks and concerns about an economic slowdown. At 10:15 a.m. ET (14:15 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 0.6% at 19,847.99, shedding 119.96 points. The energy sector was the hardest hit, falling 2.0% and exerting the most downward pressure on the TSX. This decline can be attributed to the drop in crude oil prices.…