Search Results for: cars

The rapid escalation of Sri Lanka’s political and economic crisis, causing its former President Gotabaya Rajapaksa to flee the country and resign, has had far-reaching implications for the country’s clothing and textile manufacturing sector, which plays a crucial role in the nation’s economy.…

Mexico’s largest automotive industry association, the AMIA (Asociación Mexicana de la Industria Automotriz) is optimistic about the Mexican sector’s future, despite having to recover from Covid-19 disruption, continued semi-conductor shortages and government support for used car sales.

Speaking to Wards Auto, AMIA president José Zozaya said current production halts because of chip-related parts shortages should end in 2022’s second semester, having already been reduced to hours a week from days in late 2021.…

The European Parliament has approved giving Europol more powers, backing a European Union (EU) regulation that would authorise the police agency to pursue its own research and innovation projects, process large datasets for intelligence, and help national authorities screen foreign direct investment in security-related cases.…

Russia’s invasion of Ukraine has disrupted energy supplies and raised concerns about the future availability of oil and gas, inflating these commodity prices and hence energy prices, increasing textile and apparel processing costs worldwide. On December 21, as Russia was preparing to send its military into Ukraine-government controlled territory (February 24), Brent crude was selling for USD71.57 a barrel.…

Another major auto manufacturer has announced a significant investment in Canadian electric auto production, this time GM, who this morning (Monday April 4) said it would sink more than Canadian dollars CAD2 billion (USD1.6 billion) into establishing an EV vehicle plant at CAMI, Ingersoll.…

The Canadian auto sector has expressed disappointment that its federal government has not done more in its latest budget, released on April 7, to finance the expansion of electric vehicles sales.

While industry associations have welcomed an expansion of financing for EV purchase subsidies and the development of battery mineral production, more money was needed to encourage sales, they said.…

Stellantis and South Korea’s LG Energy Solution today (Wednesday March 23) announced they would build a CAD5 billion (USD4.1 billion) electric vehicle battery plant in Windsor, Ontario.

It will be the first such plant in the province, and should open in 2024, employing an estimated 2,500 people.…

The European Public Prosecutor’s Office (EPPO) has launched its first annual report, saying that by December 31, it had processed 2,832 crime reports, opened 576 investigations (515 still active that day), identified EUR5.4 billion in estimated damages to European Union (EU) budgets and seized EUR147.3 million from alleged criminals.…

The US auto sector has been considering what technologies are best to comply with a mandate requiring automakers to install technologies preventing drivers from operating vehicles when impaired by alcohol or drugs. The requirement was attached to the USD1.2 trillion Infrastructure Investment and Jobs Act signed into law by President Joe Biden in November (2021) and aims to improve road safety amid rising road fatalities. …

Pakistan’s retail banking sector is tapping into demand for Islamic consumer finance from religious-minded Pakistani expatriates via a government-backed digital accounts facility that enables remote buying of a property and a car in their home country.

In September 2020, the central bank, the State Bank of Pakistan (SBP), allowed the 8.6 million non-resident Pakistanis (NRPs) to open a bank account in Pakistan through a digital and online process, without any need to visit a bank branch in person.…