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  • BusinessReuters

    Anhui Jianghuai Automobile says Nio unit, state-owned firm win bid for assets

    Anhui Jianghuai Automobile (JAC) said on Tuesday that electric vehicle maker Nio's Anhui unit and a state-owned company of China's Hefei government won a bid for its assets worth a combined 4.58 billion yuan ($641.2 million). Nio will take some fixed assets and equipment at two factories from JAC at a price of 3.16 billion yuan while Hefei Hengchuang Intelligent Technology, a state-owned industry park developer, will buy the buildings and land use rights of one of the plants for 1.42 billion yu

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  • NewsAFP News

    Eight dead as cyclone batters India's southeast coast

    Chest-high water surged down the streets of India's southern city Chennai on Tuesday, with eight people killed in intense floods as Cyclone Michaung made landfall on the southeast coast.Police said on Tuesday eight people had been killed in Chennai, the state capital of Tamil Nadu on India's east coast. 

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  • NewsAFP News

    COP28 fossil fuel battle hardens despite new warning on warming

    Battle lines on fossil fuels hardened at UN climate talks on Tuesday despite scientists warning that global warming could breach the 1.5C threshold within seven years.Fossil fuel CO2 pollution also rose 1.1 percent last year, according to an international consortium of climate scientists in their annual Global Carbon Project assessment, with surging emissions in China and India -- now the world's first and third biggest emitters.

    4-min read
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  • BusinessReuters

    India to be world's third-largest economy by 2030 -S&P Global Ratings

    India will remain the fastest-growing major economy for at least the next three years, setting it on course to become the world's third-largest economy by 2030, S&P Global Ratings said in a report. S&P expects India, currently the world's fifth-largest economy, to grow at 6.4% this fiscal and estimates growth will pick up to 7% by fiscal 2027. India's gross domestic product (GDP) grew a bigger-than-expected 7.6% in the second quarter of fiscal 2024, data showed last week, which prompted severa

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  • NewsAFP News

    Nigeria army drone strike accidentally kills 85 civilians

    A Nigerian army drone strike accidentally killed at least 85 civilians on Sunday in a village in northwest Kaduna State, officials said, in one of the country's deadliest military bombing mishaps.Nigerian military bombing raids have accidently hit civilians in the past.

    3-min read
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  • BusinessReuters

    Japanese tech lobby warns against EU cybersecurity labelling scheme

    Lobby group Japan Association of New Economy has joined U.S. Big Tech to warn against proposed EU cybersecurity labelling rules that they said could hamper their access to the bloc's markets, according to a letter sent to the EU industry chief. The European Union wants to set up an EU certification scheme (EUCS) to vouch for the cybersecurity of cloud services and help governments and companies in the bloc to select a secure vendor for their business. A requirement that Amazon, Alphabet's Goog

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  • BusinessAFP News

    Moody's downgrades outlook on China credit rating over debt fears

    Ratings agency Moody's on Tuesday downgraded the outlook on China's credit rating to "negative" from "stable" on the back of rising debt in the world's second-largest economy.Moody's said Tuesday its decision "reflects rising evidence that financial support will be provided by the government and wider public sector to financially stressed regional and local governments and state-owned enterprises".

    2-min read
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