Auto Industry News

Serbian President Aleksandar Vucic said on Sunday he had agreed a new three-year gas supply contract in a phone call with Russian President Vladimir Putin.

European Commission President Ursula von der Leyen said on Monday she had made progress in talks with Hungarian Prime Minister Viktor Orban on a possible EU-wide ban on Russian fossil fuels.

Russian importers are reaching out to small Indian businesses to secure fresh produce, auto parts, medical devices and other key goods that are growing scarce due to international sanctions, people familiar with the matter in both Russia and India said.

The EU's proposed new sanctions against Russia, including an oil embargo, should not be discussed at next week's summit of the bloc's leaders, Hungarian Prime Minister Viktor Orban said in a letter to the President of the European Council.

Two top executives at Grab Holdings' fintech business have quit, adding to other senior departures in recent months, as the Southeast Asian ride-hailing and delivery firm rejigs the key unit at the loss-making group, two sources said.

Russia's invasion of Ukraine has reconfigured the global oil market, with African suppliers stepping in to meet European demand and Moscow, stung by Western sanctions, increasingly tapping risky ship-to-ship transfers to get its crude to Asia.

European Union leaders agreed in principle on Monday to cut 90% of oil imports from Russia by the end of this year, resolving a deadlock with Hungary over the bloc's toughest sanction yet on Moscow since the invasion of Ukraine three months ago.

Mexico's Economy Ministry has accepted a U.S. request to probe alleged labor abuses at a Panasonic auto parts plant in the northern border city of Reynosa, it said on Monday.