Automaker Chery posts strong NEV sales
HEFEI – Chinese automaker Chery Holding Group Co., Ltd. reported strong new energy vehicle (NEV) sales in the first four months of this year, said the company. Chery sold 68,587 NEVs in the January-April period, up 168.5 percent year on year. In April alone, NEV sales surged by 81.2 percent year on year to 15,533…
CommSec morning report Friday
Latest news The US Senate voted overwhelmingly on Thursday to give Jerome Powell a second term as US Federal Reserve chair. In US economic data, the Producer Price Index (PPI) lifted by 0.5% in April to be up by 11% on the year (survey: +10.7%). The core PPI (ex-food and energy) rose by 0.4% in…
CommSec Evening Report
Latest News The Australian sharemarket has erased yesterday’s gains after the S&P/ASX 200 slipped by 1.8 per cent or 124 pts, to 6941. The tech sector fell the most today, and all 11 sectors finished in the red for the 10th time this year. A key update on US inflation last night set the tone,…
central bank conducts reverse repos to maintain liquidity
BEIJING, – China’s central bank on Thursday conducted 10 billion yuan (1.48 billion U.S. dollars) of reverse repos to maintain liquidity in the banking system. The interest rate for the seven-day reverse repos was set at 2.1 percent, according to the People’s Bank of China. The move aims to keep liquidity in the banking system…
China’s share of global economy rises to over 18 pct: official
BEIJING, – China accounted for over 18 percent of the global economy in 2021, rising from 11.4 percent in 2012, an official said Thursday. China has both cemented and improved its status as the world’s second-largest economy over the past decade, said Han Wenxiu, a senior official with the Central Committee for Financial and Economic…
Australia’s future depends on science
The longer you live through a crisis, the less likely you are to fully appreciate that you’re in one. This is especially true if there is more than one crisis, and they overlap. In Australia, we’ve experienced several in the past few years: bushfires and floods turbo-charged by climate change, and an enduring pandemic. These…
China to encourage foreign investment
BEIJING – China will further expand the industry catalog of sectors encouraging foreign investment, authorities said. The new list will add 238 more items, while up to 114 existing ones will be modified with expansion, said a notice issued by China’s National Development and Reform Commission and the Ministry of Commerce (MOC). The increase is…
ASIC commences proceedings against Australian Mines
ASIC has commenced civil penalty proceedings in the Federal Court against Australian Mines Limited (ASX: AUZ) for allegedly breaching its continuous disclosure obligations and its managing director Benjamin Bell for allegedly breaching his directors’ duties. On 19 February 2018, Australian Mines announced to the ASX that it had entered a term sheet for an offtake…
Production picks up pace at Tesla
SHANGHAI – A total of 10,000 vehicles had rolled off the production line by April 30 in U.S. carmaker Tesla’s Shanghai Gigafactory since it resumed production on April 19 after a brief hiatus, according to the company. In the first four months of this year, Tesla’s Shanghai factory delivered 183,686 vehicles, over 1.7 times the…
CommSec morning report Wednesday
Latest news In US economic data, the NFIB small business optimism index was unchanged at 93.2 in April (survey: 92.9). European sharemarkets rose from two-month lows on Tuesday. The pan-European STOXX 600 index rose by 0.7%, led higher by financial services stocks which rose 1.4%. Germany’s ZEW institute survey showed economic expectations lifting from -41…
