The American manufacturer of electric cars, Tesla, opens a factory in northern Mexico, the Mexican head of state Andrés Manuel López Obrador announced. The factory is being built in the industrial city of Monterrey. According to López Obrador, Tesla CEO Elon Musk makes a significant investment in the Latin American […]
Business
The World Bank estimates the damage caused by earthquakes in Turkey at around USD 34 billion. But the actual costs can be two to three times higher because rebuilding costs more money than what has been lost in housing and infrastructure. According to the World Bank, more than half of […]
Farmers who grow grain or vegetables may soon have a windfall. Fertilizer prices have fallen sharply in the past week and are lower than before the start of the war in Ukraine. Then, the Russian invasion of the country caused fertilizer prices to skyrocket, leading to concerns about the international […]
Russians and some Russian banks subject to sanctions can trade in digital currencies via the Huobi and KuCoin crypto exchanges. Data analyst Inca Digital, specialising in crypto coins, says this in a report. According to director Adam Zarazinski, the exchanges may violate US and European sanctions. Many Russians’ transactions concern […]
Swedish telecom equipment manufacturer Ericsson is cutting 8,500 jobs worldwide. Reuters reports this based on a memo that was sent to employees. The company hopes to save costs with the job cuts. On Monday, Ericsson will announce that it wants to cut 1400 jobs in Sweden. The cost savings are […]
Aviation group IAG, the parent group of British Airways, also notices that the aviation sector is recovering well from the corona crisis. The group, which also owns the Irish Aer Lingus and the Spanish companies Iberia and Vueling, made a profit again last year after losing billions in 2021. Last […]
The Swiss food group Nestle, known for Nescafe coffee, Maggi sauces and KitKat chocolate bars, sold fewer products in the fourth quarter. Consumers more often opted for alternatives to the more expensive branded products of Unilever’s counterpart due to the price increases. The drop in sales indicates that the largest […]
Turkey plans to resume trading in the capital Istanbul on Wednesday. This is reported by the Bloomberg news agency based on insiders. On Monday, it was still considered to extend the trade break, but that has not been done. Trading was halted last Wednesday after a sustained price fall following […]
PayPal is working on its own virtual currency but is currently on hold as a partner of the company is under investigation by the authorities. PayPal supports (only in the US) a number of cryptocurrencies for payments, but the company is also working on its own stablecoin. This is a […]
The impact of this week’s earthquake in southeastern Turkey on that country’s economy will be significant. Yet Turkey’s economy is now stronger than during the previous major earthquake in 1999 near Izmit. That’s what IMF directors said during a financial summit on the Arab world. IMF chief Kristalina Georgieva noted […]
