Japanese carmakers suffer 11.5% sales decline in 2020

Jan 07, 2021 04:50 am UTC| Business Economy

Japanese automakers sold 4,598,615 new cars in 2020, slumping by 11.5 percent from a year earlier, to mark the largest decline since 2011. The cars sold includes 1, 718,088 mini-vehicles with engines of up to 660 cc,...

Number of freight trains serving China-Europe route up 50% in 2020

Jan 06, 2021 23:59 pm UTC| Economy Business

The number freight trains running between China and Europe grew by 50 percent to 12,400 last year, according to China State Railway Group Co Ltd. The trains transported 1.14 million standard containers, up 56 percent...

Hyundai Motor to build hydrogen fuel cell plant in China: sources

Jan 06, 2021 23:52 pm UTC| Economy Business

Hyundai Motor Co. is in talks with a Chinese firm to form a joint company for the construction of its first overseas hydrogen fuel cell systems plant in Guangzhou this year as it seeks to enter the Chinese hydrogen...

Nissan India to hire 1,000 plus workforce to accelerate Magnite production

Jan 06, 2021 23:49 pm UTC| Economy Business

Nissan India is hiring over 1,000 people to work on the third shift in its plant to reduce the waiting period for the compact SUV Nissan Magnite to two to three months. The Magnite is termed the most successful product...

Fiat Chrysler to invest $250 million in India for SUV production, assembly

Jan 06, 2021 23:31 pm UTC| Economy Business

Fiat Chrysler Automobiles NV (FCA) will invest $250 million in India to manufacture a mid-size, three-row SUV, assemble the Jeep Wrangler and Jeep Cherokee, and launch a new version of its Jeep Compass SUV. FCAs...

NYSE backpedals on its plans to delist three Chinese telecoms

Jan 06, 2021 06:44 am UTC| Economy

The New York Stock Exchange announced that it will be delisting three Chinese telecommunication giants, namely China Mobile, China Telecom, and China Unicorn. However, four days later, the American stock exchange stated...

World economy in 2021: here's who will win and who will lose

Jan 06, 2021 04:19 am UTC| Insights & Views Economy

The coronavirus has crippled the world economy. Global GDP suffered its sharpest drop since the end of the second world war in 2020, millions were unemployed or furloughed, and governments pumped trillions of dollars into...