Auto Industry News
Oil Sinks About 4% After Weak Factory Data Sparks Demand Concerns
Oil prices dropped about 4% as weak manufacturing data in several countries weighed on the demand outlook while investors braced for this week's meeting of OPEC and its producer allies on supply.
Russian Crude Prices Recover On Strong India, China Demand
Aug 29, 2022 05:12 PM
Spot prices for Russia's key export crude grade ESPO Blend to Asia have rebounded from all-time lows amid strong demand from top buyers India and China and easing concerns about possible sanctions, several traders said.
Monsoon Rains Dampen India's July Fuel Demand
Aug 29, 2022 05:12 PM
Gasoline and gasoil sales by Indian state refiners in July fell from a month earlier as monsoon rains restricted mobility and construction work while high inflation curtailed overall demand for goods.
VinFast Hiring 8,000 Additional Employees To Boost Production
Aug 29, 2022 05:11 PM
VinFast is looking to hire 8,000 more employees for its electric-vehicle plant in Vietnam as it ramps up production to deliver its first battery-powered SUVs to the United States by the end of this year.
OPEC+ Sees Slightly Smaller Oil Market Surplus This Year - Report
Aug 29, 2022 05:11 PM
OPEC+ sees this year's oil market as slightly less supplied than previously thought.
Indian Oil Corp To Issue Short-Term CP - Report
Aug 29, 2022 05:11 PM
Indian Oil Corporation plans to raise funds selling commercial papers maturing in a more than a month.
Bangladesh Announces Fuel Price Jump, Stokes Inflation Fears
Aug 29, 2022 05:10 PM
Bangladesh raised fuel prices by around 50%, a move that will trim the country's subsidy burden but put more pressure on inflation that is already running above 7%.
Tensions With U.S. Spur Chinese Buying Of Chipmaking Stocks
Aug 29, 2022 05:10 PM
Chinese chipmakers' shares jumped by the most in two years this week as House of Representatives Speaker Nancy Pelosi's visit to Taiwan heightened tensions with the U.S., driving patriotic bets on a sector Beijing sees as key to its rivalry with Washington.
VinFast Hiring 8,000 Additional Employees To Boost Production
Aug 29, 2022 05:10 PM
Vietnam's VinFast is looking to hire 8,000 more employees for its electric-vehicle plant in Vietnam as it ramps up production to deliver its first battery-powered SUVs to the United States by the end of this year, company said.