Auto Industry News

Oil prices rose on expectations that OPEC+ will discuss output cuts at a meeting on Sept. 5, though concern over China's COVID-19 curbs and weakness in the global economy loomed over the market.

India's Reliance Industries said late it would acquire a 79.4% stake in California-based solar energy software developer SenseHawk for $32 million.

India's government raised taxes on aviation turbine fuel exports to 9 rupees ($0.11) per liter from 2 rupees per liter, a government notification said.

Thousands of people joined protests across Indonesia this week against a fuel price increase but even as anger mounts on the streets of Southeast Asia's largest economy, analysts say President Joko Widodo is well placed to weather the storm.

Indonesia's Transport Ministry has raised fares for app-based motorbike transport services to account for the recent fuel price hike, senior official Hendro Sugiatno said.

The number of people forced into modern forms of slavery has risen by a fifth in recent years to around 50 million on any given day amid a surge in poverty and other crises, the U.N. International Labour Organization (ILO) said.

Fossil fuel firms may have to share their excess profits to help European households and industries cope with red-hot energy bills, a draft European Union plan showed on Monday as the cost of the West's "energy war" with Russia took a growing toll.

Indonesia will review minimum wage and other labour rules, the president's office said, after trade unions staged nation-wide protests against a recent hike in petrol prices that they say has come even as incomes stagnate.