Germany’s economics ministry declined to comment on the details but a spokeswoman said Economics Minister Peter Altmaier had advocated extending the subsidies. BERLIN, – Germany will extend its enviromental subsidy for electric cars until 2025, government and auto industry sources told Reuters on Monday, a day ahead of a German auto industry summit in Berlin.… Continue reading Germany to extend electric car subsidies to 2025: Sources
Author: Economic Times of India Online News
Stimulus 3.0 signals a cautious approach towards economic recovery
In the third stimulus package, Finance Minister Nirmala Sitharaman announced measures to boost employment generation in the formal sector. With the inflation rate hovering above 7 per cent, the Reserve Bank of India (RBI) has limited scope to announce more monetary easing measures. Even before the pandemic, Indian economy was facing a slowdown with GDP… Continue reading Stimulus 3.0 signals a cautious approach towards economic recovery
View: A better tomorrow won’t fix India’s broken today
The threshold for the US dollar to weaken from current levels is high as a lot of dovishness has already been factored in. By Andy MukherjeeIndia’s currency is strong, the stock market is surging, and long-term interest rates are under control. The technical recession that blighted the June and September quarters is probably already over.… Continue reading View: A better tomorrow won’t fix India’s broken today
India rate cuts bets fall as recovery gains hold, inflation stays high
With inflation staying above 7% in October for a second straight month, well above the RBI’s medium term target of 4%, views that India is near the end of the current rate cutting cycle have become more pronounced. MUMBAI: Negative real rates in India and recovering growth alongside high inflation suggest its central bank has… Continue reading India rate cuts bets fall as recovery gains hold, inflation stays high
Laser focus on costs has brightened the 2021 outlook for stocks
Businesses have slashed expenses materially this year to cope with the fallout of pandemic-induced shutdowns. By Sam Unsted Corporate profits around the globe comfortably topped expectations in the third quarter, helped in no small part by cost cuts, and optimism is growing that earnings momentum will carry on in 2021 even if the bar to… Continue reading Laser focus on costs has brightened the 2021 outlook for stocks
Walmart partners with GM’s Cruise on self-driving delivery pilot in AZ
By Paul Lienert Walmart Inc is adding Cruise, a majority-owned affiliate of U.S. automaker General Motors Co, to its roster of self-driving startup partners, in a pilot delivery program early next year in Scottsdale, Arizona, the retailer said on Tuesday. Walmart previously has partnered with tech startups Flytrex, Nuro and Gatik on pilot delivery programs… Continue reading Walmart partners with GM’s Cruise on self-driving delivery pilot in AZ
Toyota launches first regional stockyard at Guwahati to cut delivery time
Mumbai: Toyota Kirloskar Motor (TKM) on Thursday announced the launch of its first regional stockyard in Guwahati, which aims at reducing delivery time from the current 13 days to a maximum of two days for the dealers in the northeastern states. The new stockyard will significantly enhance distribution efficiency, reduce inventory costs and turnaround time… Continue reading Toyota launches first regional stockyard at Guwahati to cut delivery time
Tata Motors net loss widens to Rs 307 crore in Q2
New Delhi: Tata Motors on Tuesday posted a consolidated net loss of Rs 307.3 crore for the quarter ended September 30. It reported a loss of Rs 187.70 crore in the corresponding quarter last year. Firm’s total revenue from operation declined 18.19% Y-o-Y at Rs 53,530 crore during the quarter under review. Guenter Butschek, CEO… Continue reading Tata Motors net loss widens to Rs 307 crore in Q2
Vehicle sales reach 83% of 2019 figures in Gujarat
AHMEDABAD: Driving a new vehicle home is considered auspicious on Dussehra and the day indeed spelled good news for car and two-wheeler dealerships across Gujarat, with buoyant sales. According to estimates by Federation of Automobile Dealers’ Association (FADA), an estimated 11,100 vehicles were sold across Ahmedabad on Sunday. These include 8,500 two-wheelers and 2,600 four-wheelers.… Continue reading Vehicle sales reach 83% of 2019 figures in Gujarat
Brilliance Automotive parent defaults on bond payment
SHANGHAI: Huachen Automotive Group Holding Co Ltd, the state-backed parent of BMW‘s main Chinese joint-venture partner, has defaulted on a bond payment, two sources with knowledge of the situation said, highlighting the automaker’s ongoing debt woes. Huachen was unable to a repay a 5.3% 1 billion yuan ($149.6 million) private placement corporate bond that matured… Continue reading Brilliance Automotive parent defaults on bond payment