Auto Industry
Reuters
May 27, 2022, 8:05 PM
Asian shares on Friday extended overnight global gains thanks to strong results from regional tech firms and U.S. retailers
1 Min
car&bike Team | May 27, 2022India's ONGC To Boost Exploration With $4 Billion Investment Over 3 YearsIndia, the world's third biggest oil importer and consumer, ships in over 80% of its oil needs. Asia's third largest economy wants to monetise its oil and gas resources to cut its import bill.1 min read
car&bike Team | May 27, 2022COVID-hit Shanghai Heads For Lockdown Exit But China Still Lost In Economic GloomShanghai is set to finally emerge from its lockdown on June 1 after new infections fell sharply. The mega-city of 25 million people has been cautiously allowing more of its population to venture out and putting more vehicles back onto its once busy streets and boulevards.1 min read
Reuters | May 27, 2022Supply Chains Snarl Taiwan Tech Firms As Some Strive To Meet DemandTaiwanese tech suppliers are suffering from supply constraints, even for such things as packing materials, as some struggle to take advantage of soaring demand.1 min read
Reuters | May 27, 2022Faulty Battery Cells, Modules Likely Caused e-Scooter Fire In India, Initial Probe FindsIndia wants e-scooters and e-bikes to make up 80% of total two-wheeler sales by 2030, from about 2% today.1 min read
car&bike Team | May 27, 2022Pakistan Hikes Fuel Prices To Unlock IMF FundingThe price hike has been the main issue between Pakistan and the IMF as part of an agreement to withdraw subsidies in oil and power sectors to reduce the fiscal deficit before the annual budget is presented next month.1 min read
Reuters | May 27, 2022Toyota Warns Profit To Skid 20% As Raw Materials Costs Pile UpToyota Motor warned "unprecedented" hikes in raw material costs could slice a fifth off full-year profit, a clear sign the world's top automaker by sales can no longer shrug off the supply-chain crunch that has roiled the global industry.1 min read
car&bike Team | May 27, 2022Oil Rises To 2-Month High On Tight Supplies, EU Seeks Russian Crude BanHungary remains a stumbling block, as EU sanctions require unanimous support. Hungary is pressing for about 750 million euros ($800 million) to upgrade its refineries and expand a pipeline from Croatia.1 min read
car&bike Team | May 27, 2022Indian Shares Jump Over 2% As Auto, Metal Stocks RallyIn Mumbai, all 50 stocks on the Nifty 50 index were trading higher and nearly all Nifty sub-indexes climbed. The Nifty auto index, realty index and metal index gained more than 3% each.1 min read
