China's premier on Tuesday urged closer cooperation with Germany to shore up a struggling global economy, at a time when the European export powerhouse is seeking to reduce its reliance on the Asian giant. . - Mistrust - Export giant Germany, by virtue of its economic might, has always enjoyed special ties with China.
Hyundai Motor said Tuesday it aims to sell two million electric vehicles a year by 2030, raising its target from the 1.87 million it set last year as the market for clean-energy vehicles continues to soar.. "With global EV demand growing faster than market forecasts, Hyundai Motor is raising its 2030 sales target from 1.87 million units to two million units," it added.
Chinese imports of Russian oil last month hit their highest level since Moscow's February 2022 invasion of Ukraine, Beijing's customs data showed Tuesday.. And in May, China imported 9.71 million tonnes of oil from Russia, detailed customs data showed, up from 5.4 million tonnes in February 2022 and 6.3 million the following month.
British aviation tycoon Hamish Harding, one of five people aboard a missing Titanic diving vessel, is no stranger to daredevil antics -- and has three Guinness world records to his name.. Harding's Guinness records are for longest duration and distance traversed at full ocean depth by a crewed vessel, and the fastest circumnavigation via both Poles by plane.
Chinese tech giant Alibaba said Tuesday it will replace its top boss in a surprise move at the e-commerce titan as it looks to recover from years of slow growth caused weak consumer spending and a crackdown by authorities.. The firm has faced various new headwinds in recent years as Beijing imposed tighter restrictions on the domestic tech sector, while weak consumer spending saw it record its third consecutive quarter of single-digit revenue growth earlier this year.
Rather than celebrating finishing university, this summer Chinese graduates shared photos of themselves theatrically throwing their degrees into bins, underscoring the bleak outlook as youth unemployment sits at a record high.. Frustration over the fierce competition for any well-remunerated work has fuelled the online memes of throwing away degrees, with graduates also posting photos of themselves sprawled on the ground or in various poses of despair.
Stocks in Hong Kong and Shanghai led losses across most of Asia on Tuesday as a smaller-than-forecast interest rate cut by China's central bank added to worries about the lack of action to kickstart the country's lumbering economic recovery.. Stocks in Hong Kong dropped more than one percent, with tech firms -- which are susceptible to higher borrowing costs -- taking the brunt of the selling, while Shanghai was also in negative territory.
The EU will on Tuesday detail the economic security risks facing the bloc and new tools Brussels can use as it seeks to muscle up against rivals Russia and China.. The EU this year agreed to establish a trade tool that would go after countries that seek to put pressure on one of its members after China targeted Lithuania in a spat over Taiwan.
China's central bank on Tuesday cut two benchmark interest rates, following several similar measures last week in a bid to counter the post-Covid growth slowdown in the world's second-largest economy.. China's six largest state-owned commercial banks cut interest rates for savers earlier this month to boost spending, according to announcements on their websites, after a request by the central bank.
Berlin agreed Monday to grant US chip giant Intel subsidies totalling almost a third of the cost of a 30-billion-euro ($32.7-billion) German plant in a controversial decision following a months-long row.. The project, now projected to cost a total of 30 billion euros, had originally been expected to cost 17 billion, the government sources said.
