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  • BYD's steep EV discounting in Thailand sparks backlash, PM seeks assurances

    Thailand's consumer protection agency has received about 70 complaints since initiating a probe into aggressive discounting by BYD dealers that has left some buyers feeling they overpaid for their Chinese electric vehicles. Prime Minister Srettha Thavisin told BYD Chief Executive Wang Chuanfu, who was in Thailand to mark the opening of its first Southeast Asian factory this week and paid a courtesy call to the premier on Friday, to better manage customer expectations about pricing and ensure local buyers were protected. Wang gave assurances that future pricing would be appropriate and affected customers would receive support, according to a government spokesman.

  • China reveals next steps in EU brandy probe as EV tariffs take effect

    BEIJING (Reuters) -China announced on Friday the next step in its anti-dumping investigation into European brandy imports, ramping up tension on the same day the European Commission's provisional tariffs on Chinese-made electric vehicles take effect. While a commerce ministry spokesperson stressed at a news conference on Thursday that Brussels and Beijing should stay at the negotiating table ahead of the bloc confirming tariffs of up to 37.6% on Chinese-made EVs, the prospect of retaliation was kept alive by a reference to another probe into EU pork imports. On Friday, the commerce ministry said it would hold a hearing on July 18 to discuss an investigation into claims that European brandy producers are selling into China at below market rates.

  • Exploring Three SGX Stocks With Intrinsic Value Discounts Ranging From 43% To 47.2%

    Amidst a landscape of heightened vigilance against financial fraud, as highlighted by initiatives from major banks like National Australia Bank, investors in the Singapore market may find reassurance in focusing on fundamentally sound investments. In this context, identifying stocks trading below their intrinsic value can offer a prudent strategy, especially when market conditions underscore the need for careful investment choices.

  • China's BYD opens first EV factory in Southeast Asia

    STORY: Step inside BYD's first electric vehicle plant in Thailand.It's part of the Chinese automaker's plan to expand in Southeast Asia, where BYD has become the dominant player.BYD CEO and President Wang Chuanfu."We are convinced that Thailand will have a golden development period for new energy vehicles. China and Thailand are geographically close, culturally close, and economic and trade cooperation is booming. New energy vehicles are not only a bridge between China and Thailand to enhance friendship, but also a link between BYD and Thailand."Thailand is a regional auto assembly and export hub.The country aims to convert 30% of its annual production of 2.5 million vehicles into EVs by 2030.Chinese EV makers clearly like the lure of the Thai government's subsidies and tax incentives.They've invested more than $1.4 billion setting up factories in the country, with BYD's new plant the latest addition.The sprawling facility is worth $490 million.And it will have a production capacity of 150,000 vehicles per year, including plug-in hybrids."It will provide over 10,000 jobs after reaching full capacity."As part of its expansion outside China, the world's largest EV maker is also building its first European production base in Hungary.Although BYD could feel some pain in that particular market.The European Commission has imposed tariffs of up to nearly 38% on Chinese-made EVs.

  • Why are Chinese electric cars in EU crosshairs?

    The European Union will impose additional provisional duties of up to 38 percent on Chinese electric cars from Friday after concluding manufacturers in China benefited from unfair state support.The EU will now impose provisional duties between 20 and 38 percent on top of the current 10 percent tariff on Chinese electric cars.

  • BMW attacks EU tariffs on Chinese electric car imports

    BMW has accused the European Union of protectionism as Brussels prepares to hit imported Chinese electric cars with a wave of tariffs.

  • EU slaps Chinese electric cars with tariffs of up to 38%

    The European Union on Thursday slapped extra provisional duties of up to 38 percent on Chinese electric car imports because of Beijing's "unfair" support, a move that risks escalating tensions with Beijing.- Expected cut to imports - The United States has already hiked customs duties on Chinese electric cars to 100 percent, while Canada is considering similar action.

  • China's BYD opens EV plant in Thailand despite slowdown, tariff row

    China's electric vehicle giant BYD opened a factory in Thailand on Thursday, continuing its international expansion despite a market slowdown and hours before the European Union was due to impose swingeing tariffs on Chinese EV firms.China has led the global shift to electric vehicles, with almost one in three cars on its roads set to be electric by 2030, according to the International Energy Agency's annual Global EV Outlook.

  • MG, Nio hint at car price increases this year following EU EV tariff decision

    Chinese brands MG and Nio suggested on Thursday they might raise prices of their cars in Europe later this year, following the European Union's decision to confirm tariffs on Chinese-imported EVs. The EU will impose tariffs of up to 37.6% from Friday on imports of electric vehicles made in China, EU officials said, ratcheting up tensions with Beijing in Brussels' largest trade case yet. Chinese automaker Nio said in a statement it might adjust prices of its cars in Europe as a result of the EU's decision on tariffs.

  • EU hits Chinese electric cars with new tariffs

    The move poses a challenge to Beijing, which hopes EVs will help revive the country's flagging economy.

  • Exclusive-Europe seeks industry views on China's older generation chips

    The European Commission has begun canvassing the region's semiconductor industry for its views on China's expanded production of older generation computer chips, two sources familiar with the matter told Reuters. The Commission, the EU executive, has sought feedback ahead of two voluntary surveys for the chip industry and major chip-using industrial firms that will be due in September. It is unclear what action will result from the study but tensions between Brussels and Beijing are already rising as the European Union seeks to protect its industries from Chinese competition.

  • Bird flu hits McDonald's Australia breakfast hours

    The fast food giant is serving its full breakfast menu in the country until 10:30am, instead of midday.

  • Chinese tech executives discuss how AI large language models can shape businesses

    Chinese tech executives - including those from Alibaba Group Holding and generative artificial intelligence start-up Zhipu AI - discussed how large language models (LLMs) can shape businesses at the annual conference held by Luohan Academy, the open research institute initiated by Alibaba. At the 2024 Luohan Academy Annual Digital Economy Conference, Zhang Fan, chief operating officer of Zhipu AI - one of China's "four artificial intelligence (AI) tigers" - talked about how the tech unicorn help

  • Data centres will create a thriving ecosystem around them; talent development remains govt’s priority

    In this week’s Digital Ministry round up, we look at how data centres can help create jobs, and the importance of talent development to ensure no one is left behind in the digital race. The post Data centres will create a thriving ecosystem around them; talent development remains govt’s priority appeared first on Twentytwo13.

  • Malaysian companies have significant scope to promote diversity at the workplace - according to a foundit survey

    Here are some of the key findings from the survey - 49% of respondents state that their organisations do not have diversity training programs - 32% of employees believe their workplace is highly committed to hiring a diverse team - 28% of respondents are not familiar with the concept of diversity hiring - 36% of respondents state that their organisations support work-life balance, especially for women caregivers and differently-abled individuals. - 47% of employees are aware of employee resource

  • I’m a Financial Planning Expert: You’re Right About Your Retirement Savings If …

    Finding the magic number for your retirement savings is no easy feat. According to a recent survey of over 1,000 Americans conducted by GOBankingRates, more than a third (35.48%) of the respondents...

  • Brent crude trades above $87, sets highest levels since April

    (Reuters) -Oil prices for Brent crude hit their highest level since April on Thursday, holding above $87 after data the previous day showed a decline in U.S. inventories. Brent crude futures were up 21 cents, or 0.2%, at $87.55 a barrel by 1922 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 18 cents at $84.06 in trade thinned by the U.S. Independence Day holiday.

  • Is retiring at 65 a huge mistake? Here's what you need to consider

    Deciding when to retire is deeply personal.

  • Australian court rules PayPal unit used unfair term in small business contracts

    The court found the term was unfair because customers who did not bring the overcharging errors to PayPal's notice within 60 days were forced to accept the fees as accurate, the Australian Securities & Investments Commission (ASIC) said. ASIC had initiated court proceedings against PayPal over this issue last September.

  • 8 Money Rules That Make Retirement Saving Easy

    Retirement should be relaxing, enjoyable and fun. Hopefully, you've saved and invested enough money throughout your career so you're able to enjoy your golden years without financial worries. Read...